Lanco Infra in the limelight
Another Infra company is in the news today. Lanco Infra. Today morning, before the opening bell, the company announced some good news. It stated that Lanco Amarkantak Power Limited (LAPL) a step down subsidiary of Lanco Infratech has started power supply to Haryana Discoms.
The company stated that resumption of Power supply to Haryana Discoms is going to be profit assertive for us in the coming quarters as it will double the revenues of Lanco Amarkantak to around Rs 1200 crore and increase EBITDA by around Rs.200 crore for full year of operations, and will also have a positive impact on overall financials of Lanco Group.
With the commencement of power supply to Haryana Discoms at regulated tariff from this pithead plant, the entire 1800 MW operating coal based power portfolio of Lanco is now utilised to its full capacity with fuel pass through.
Recently in September 2015, LAPL got a favourable order from the Hon’ble Supreme court directing the South Eastern Coalfields Ltd. to supply coal to the 300 MW Lanco Amarkantak unit II treating it as an unit having a subsisting long term PPA .
And on September 24, 2015 the company executed the documentation for flexible refinancing with its Lenders for 2 x 300 MW Unit 1 & 2. LAPL has also completed the documentation for the cost overrun financial closure of its 2 x 660 MW expansion project.
The stock price is up over 4% at Rs.6.42, with an intra day high of Rs.6.71. Its 52-week high is at Rs.7.40.