OPG Power says annual revenue and earnings meet expectations
OPG Power Ventures PLC on Tuesday said revenue and earnings before interest, tax, depreciation, and amortisation for its recently ended financial year are expected to be in line with market expectations, amid flat electricity generation.
The Isle of Man-based developer and operator of power plants in India said total electricity generation for the financial year ended March 31 was 2.32 billion units, unchanged from the prior year. Plant load factor for the year remained steady at 69%.
OPG said softening coal prices during the year offset the impact of a lower average tariff, which slipped to ₹6.92 per kilowatt hour, around $0.083, from ₹7.52 in financial 2024. The company expects operating margins to be largely maintained due to softening coal prices.
OPG reported a significant improvement in liquidity, with net cash rising to £13.7 million at March-end from £3.6 million a year before.
Looking ahead, OPG said it expects financial 2026 plant load factor to remain around 70%, supported by a balanced sales mix of short- and long-term contracts.
Despite India’s ongoing energy transition, OPG said thermal power remains essential for grid stability and peak demand coverage. India’s power sector grew by 5% in financial 2025, adding 88 billion units to reach 1.821 trillion units, and with thermal sources accounting for over 73% of output, it noted.
Shares in OPG Power were up 6.1% at 5.25 pence in London on Tuesday afternoon.
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