Greenko is a mainstream participant in the growing Indian energy industry and a market leading owner and operator of clean energy projects in India. The Group is building a de-risked portfolio of wind, hydropower, natural gas and biomass assets within India and intends to increase the installed capacity it operates by developing new greenfield assets.

Greenko's portfolio is carefully diversified geographically and risk is spread across a number of projects which utilise varied environmental technologies. The Company's medium term goal is to reach 1 GW of operational capacity in 2015.

With a core belief in sustainability both operationally and environmentally, Greenko endeavours to be a responsible business playing an important role in the community beyond its role in the power generation industry. The Company maintains a continuous involvement in localised projects and community programmes which centre on education, health and wellbeing, environmental stewardship and improving rural infrastructure.
Greenko Group PLC (previously Greenko S.A.) was incorporated in Luxembourg and is registered in the Isle of Man. The Group has been listed on the London Stock Exchange's Alternative Investment Market (AIM) since November 07, 2007


http://www.greenkogroup.com/

19 Jun Investec 275.00 Buy

Aim-listed company increases profits by 70pc

India-focused wind power group Greenko has ambitious expansion plans and if it continues to deliver then the shares are worth a closer look, says Questor

Revenue increased by 38pc to €53m (£42m) and pre-tax profits jumped by 70pc to €13.5m for the year ended March 31

Mr Albert said that he would be happy for wind turbines to be built on National Trust land Photo: REX FEATURE



By John Ficenec, Questor editor

6:00AM BST 21 Jun 2014


Questor says: BUY


AN AIM-listed India-focused wind power company that is listed in London but reports in euros would understandably not be everyone’s investment cup of tea.


However, soaring revenue and a sharp increase in profits, which could have further to go under an ambitious expansion plan, make shares in Greenko worth a second look.


Revenue increased by 38pc to €53m (£42m) and pre-tax profits jumped by 70pc to €13.5m for the year ended March 31, Greenko revealed last week. The driving force behind the increase was a more than doubling in the power-producing capacity from its Indian wind farms. Greenko said that capacity increased from 244 megawatts (MW), to 661 MW by the end of March.


The company has ambitious expansion plans to increase capacity to 1,000 MW in 2015 and up to 2,000 MW by 2015.

The company most recently commissioned an additional 50MW of new capacity last week.

“We are very pleased to have commissioned further wind projects on schedule, and we remain on target to reach roughly 700 MW of total operating capacity across our entire portfolio ahead of this year’s wind and monsoon season (July),” said Anil Chalamalasetty, the chief executive.

The shares currently trade on a forecast price earnings ratio of 18.1 times, but with the rapid growth that falls to 14.6 times next year.

House broker Investec has a bullish 275p price target based on successful wind farm growth.

India has serious structural power shortage problems and that should help underpin this growth. High risk this one, but a speculative buy.

HYDERABAD, DEC 24:
A team of officials from renewable energy company Greenko met with Telangana Chief Minister K Chandrasekhar Rao and expressed their interest in setting up 800 MW capacity by 2018.

According to a statement from the Chief Minister’s Office, the Greenko team requested the State Chief Minister to facilitate in getting the necessary land for the proposed renewable energy projects in the state.

During the meeting, the Chief Minister said that the Government was keen to add fresh capacity both thermal and in the renewable energy sector to bridge the demand supply mismatch and gradually make the State power surplus.

Referring to the recent invitation for companies to set up solar parks in the state, he said that these parks when completed would be able to provide additional power during the day time which could be used for the farm sector requirements.

He said if necessary another round of tenders would be called for inviting expression of interest to develop solar project in the State.

The Chief Minister also wanted to explore the potential of setting up wind energy farms in the rural parts of the State as these could be useful for energy short villages.

S T of IC today -Greenko sell off unwarranted

Shares in Greenko




(GKO: 123.5p), the Indian developer, owner and operator of clean energy projects, have fallen 10 per cent since I last updated the investment case a couple of months ago (‘Energising growth’, 8 December 2014) and are now below the 138p level at which I initiated coverage ('Buy signal flashing green', 18 March 2013).

I have been scratching my head to ascertain why this has happened, but yesterday a plausible reason came to light when over 2m shares in the company passed through the market in block trades and quite possibly cleared a stock overhang. The fact that the shares have ticked up post those deals being executed would suggest this is a credible explanation for the underperformance.

In my view, the derating in the past two months is wholly unwarranted especially as last week’s pre-close trading update confirmed that the company is trading inline with analysts’ earnings estimates. Operationally, Greenko is progressing well with power generation up by 83 per cent to 1,565 GWh compared to the same nine month period in 2013, and 46 per cent ahead when compared to the previous twelve months. The wind portfolio contributed 660 GWh of this, with 640 GWh coming from the hydro portfolio.

Importantly, Greenko remains on track for its operational portfolio to exceed 1,000 MW this year, with all projects currently under construction being fully financed and within budget. Installed capacity increased by 154 MW to 715 MW in the nine-months to end December 2014, with all of the increase coming from new wind capacity commissioned. And the backdrop for renewable energy in India remains favourable, as conventional power assets struggle to supply power to the grid due to fuel supply and off-take price issues. Greenko's wind and hydro portfolios are able to profitably supply power to compete with conventional generation in many states of the country. Indeed, analyst Adam Forsyth at Arden Partners expects Greenko to report revenues of $97m for the nine months to end December 2014, adjusted pre-tax profits of $30m (up from $17.8m for the 12 months to end March 2014) and EPS of 10.1¢ (6.7p).

And with output being significantly ramped up, Mr Forsyth expects revenues to surge to $185m in calendar 2015 to generate adjusted pre-tax profits of $61.1m and EPS of 22.4¢ (14.9p). On this basis, the shares are priced on only 8 times 2015 earnings estimates. There is a realistic prospect of an income stream for investors too as the board plan to declare an inaugural dividend in next month’s financial results. Mr Forsyth predicts a first payout of 2.5¢ a share (1.6p) “with more substantial payouts going forward”.

True, the company is carrying high levels of debt: analysts predict net borrowings are currently around $723m, and this is expected to rise to $961m by the end of 2015. However, the company’s balance sheet is well funded following successful refinancing last year including a $550m (£367m) five-year bond issued on the Singapore Stock Exchange and a US$125m (£83m) six-year credit line from EIG Global Energy Partners. Moreover, net debt of close to $1bn at the end of this year equated to only eight times forecast operating profit, so debt service is hardly an issue.

No matter which way I look at this, I strongly feel that the shares are woefully undervalued offering almost 100 per cent upside to my target price in the range 225p to 230p. I also feel that investors are likely to warm to the investment case following the release of next month’s bumper full-year results. And with the share price decline halted by the upbeat trading statement, and a potential overhang cleared, the odds favour buying now in anticipation of a likely share price recovery driven by those financial results. Buy.

In for a strong recovery bounce.

Stmnt re Share Price Movement
RNS
RNS Number : 9893Q
Greenko Group plc
23 June 2015



23 June 2015

Greenko Group PLC

("Greenko" or "the Company")


Statement re Share Price Movement


The Board of Greenko, the Indian developer, owner and operator of clean energy projects, notes the recent movement in its share price. Global Environment Emerging Markets Fund III LP ("GEEMF") and Cambourne Investment Private Limited, the affiliate of the Government of Singapore Investment Corporation Pte Ltd ("GIC") hold shares in Greenko Mauritius which are capable of being exchanged for shares in the Company with effect from 1 July 2015.



The Company is in discussions to find a solution at a subsidiary level which supports all stakeholders and the business.



Further announcements will be made in due course.



-Ends-

What on earth is going on here?
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on edit down 97%

Looks a bit complicated....."disapplication of pre-emption rights for up to 10 per cent. of the existing issued share capital of the Company" plus a return of capital to shareholders. Looks like a re-organisation of the company rather than a stock crash.

Where did you find that HARRYCAT?
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Company RNS re AGM + EGM dated 18th DEC 2015.
I confess I haven't studied the docs as this Co isn't on my radar.

Thanks again HARRYCAT, they are delisting from AIM later this month.
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