Author Topic: EPQL -- Engro Powergen Qadirpur Ltd  (Read 128626 times)

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Offline SBM

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Re: EPQL -- Engro Powergen Qadirpur Ltd
« Reply #459 on: August 31, 2017, 09:30:22 PM »

Offline drymsec

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Re: EPQL -- Engro Powergen Qadirpur Ltd
« Reply #460 on: September 10, 2017, 05:33:45 PM »
any info on terms of gas supply from the qadirpur fields?

Offline drymsec

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Re: EPQL -- Engro Powergen Qadirpur Ltd
« Reply #461 on: September 11, 2017, 12:12:34 AM »

(3) The management has also indicated the company’s maximum payout capacity is Rs3.0/share till the

10-year loan repayment period ends (2010-2020), after which the IPP can increase its payout.



They have given a dividend of greater than Rs 3/share during that period... in fact multiple times. What is the source of this?

Offline SBM

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Re: EPQL -- Engro Powergen Qadirpur Ltd
« Reply #462 on: September 11, 2017, 11:14:50 AM »

(3) The management has also indicated the company’s maximum payout capacity is Rs3.0/share till the

10-year loan repayment period ends (2010-2020), after which the IPP can increase its payout.



They have given a dividend of greater than Rs 3/share during that period... in fact multiple times. What is the source of this?

source is maths
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Offline drymsec

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Re: EPQL -- Engro Powergen Qadirpur Ltd
« Reply #463 on: September 11, 2017, 02:38:35 PM »

(3) The management has also indicated the company’s maximum payout capacity is Rs3.0/share till the

10-year loan repayment period ends (2010-2020), after which the IPP can increase its payout.



They have given a dividend of greater than Rs 3/share during that period... in fact multiple times. What is the source of this?

source is maths

Oh i see.. i thought it was a restriction from the lender.

Offline SBM

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Re: EPQL -- Engro Powergen Qadirpur Ltd
« Reply #464 on: September 11, 2017, 04:47:42 PM »

(3) The management has also indicated the company’s maximum payout capacity is Rs3.0/share till the

10-year loan repayment period ends (2010-2020), after which the IPP can increase its payout.



They have given a dividend of greater than Rs 3/share during that period... in fact multiple times. What is the source of this?

source is maths

Oh i see.. i thought it was a restriction from the lender.

accounting earnings are misleading for ipps
they are allowed a fixed ROE +/- any savings on admin and fuel costs
They will pay out that much only .. which comes out to roughly 3-3.25 per year
Once long term debts are paid off, the company's sales & profits  will come down as the company is provided money to pay off lenders via sales & profits
so there wont be really any elevated payouts
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Offline drymsec

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Re: EPQL -- Engro Powergen Qadirpur Ltd
« Reply #465 on: September 12, 2017, 11:18:18 AM »

(3) The management has also indicated the company’s maximum payout capacity is Rs3.0/share till the

10-year loan repayment period ends (2010-2020), after which the IPP can increase its payout.



They have given a dividend of greater than Rs 3/share during that period... in fact multiple times. What is the source of this?

source is maths

Oh i see.. i thought it was a restriction from the lender.

accounting earnings are misleading for ipps
they are allowed a fixed ROE +/- any savings on admin and fuel costs
They will pay out that much only .. which comes out to roughly 3-3.25 per year
Once long term debts are paid off, the company's sales & profits  will come down as the company is provided money to pay off lenders via sales & profits
so there wont be really any elevated payouts

what do they do with unappropriated profits.

Offline SBM

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Re: EPQL -- Engro Powergen Qadirpur Ltd
« Reply #466 on: September 12, 2017, 01:42:41 PM »
all cash generated is utilized in paying either creditors or dividends
unappropriated profits are just an accounting entry.
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Offline drymsec

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Re: EPQL -- Engro Powergen Qadirpur Ltd
« Reply #467 on: September 12, 2017, 02:36:54 PM »
all cash generated is utilized in paying either creditors or dividends
unappropriated profits are just an accounting entry.

interesting  :skeptic:

Offline Koolfire

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Re: EPQL -- Engro Powergen Qadirpur Ltd
« Reply #468 on: February 01, 2018, 09:31:54 PM »
Failure Is Only a Temporary Change in Direction To Set You Straight For Your Next Success...Only Those Who Dare To Fail Greatly Can Ever Achieve Greatly...

Offline MZ

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Re: EPQL -- Engro Powergen Qadirpur Ltd
« Reply #469 on: October 16, 2018, 09:23:42 PM »
ENGRO POWERGEN QADIRPUR LIMITED (EPQL): 3QCY18 EPS CLOCKED IN AT PKR 1.03, UP 9% YOY

Tuesday, 16 October 2018

BY: ALFA ADHI SECURITIES (PVT.) LTD.

EPQL announced its 9MCY18 financial results today where company reported 3QCY18 EPS of PKR 1.03, up 9% YoY, 9MCY18 earnings clocked in at PKR 5.94/share up 4% YoY. Growth in 3QCY18 is likely on account of increase in ROE component because of currency devaluation. However, reported EPS is below our expectations owing to lower O&M savings during 3QCY18.
The IPP’s topline declined 10% YoY during 3QCY18 to settle at PKR 2.37bn, mainly attributable to decrease in load factor, which is likely to have clocked in at 80% as compared with load factor of 94% during 3QCY17.Topline for 9MCY18 clocked in at PKR 8.41bn, down 4% YoY.
Finance cost for 3QCY18 posted a decline of 14% YoY to settle at PKR 56mn on account of repayment of long-term loans.
We estimate our Jun-19 PT of PKR 36/share. Our PT implies an upside of 27% along with a dividend yield of 17.6%. We have a ‘BUY’ recommendation on the stock.

Offline SBM

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Re: EPQL -- Engro Powergen Qadirpur Ltd
« Reply #470 on: December 30, 2018, 08:50:17 PM »
Near Term Outlook
As envisaged in the Implementation Agreement; EPQL is now facing gas curtailment from Qadirpur gas field as it depletes
and has made its Plant available on mixed mode i.e. comingling of gas and HSD from September 7, 2018 onwards. Under
the Implementation Agreement; once gas curtailment reaches a certain point, EPQL is allowed one-time conversion to an
alternate fuel. The cost of this conversion is fully recoverable from the Power Purchaser as per the Implementation Agreement.
In the meanwhile EPQL is entitled to recover full capacity payments while making the Plant available on mixed mode.
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