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4-Traders Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Orient Green Power Company Ltd    GREENPOWER   INE999K01014

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ORIENT GREEN POWER : TO SELL LOSS-MAKING BUSINESS

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07/02/2017 | 02:00am CEST

Orient Green Power Company Ltd of the Shriram Group is planning to sell its loss making biomass business, which recorded a loss before tax of Rs81 crore on revenues of Rs78 crore in 2016-2017. The enterprise value of the business is estimated at Rs275 crore. It intends to sell 68 megawatts (mw) biomass capacity to its promoter company Shriram Ventures or its subsidiaries. The move follows the proposal of the renewable energy company to merge its wind energy assets with IL&FS Wind Energy. The company had 96 mw of biomass capacity, of which it has sold 30 mw in Rajasthan and Maharashtra. Its loss was Rs112.36 crore in 2016-2017 (Rs168.51 crore in 2015-2016 and Rs238.63 crore in

2014- 2015).

Copyright (c) 2017 . Informatics India Ltd., source Indian Business Insight

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Latest news on ORIENT GREEN POWER COMPANY
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Managers
NameTitle
Sesha Ayyar Venkatachalam Chief Executive Officer, Executive Director & MD
Rangachary Nambi Iyengar Non-Executive Chairman
Kunnavakkam Vinjemur Kasturi Chief Financial Officer
Panchapakesan Krishnakumar Executive Director
Thyagarajan Shivaraman Executive Vice Chairman
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