Looking to target EBITDA of Rs 330cr for FY18: Orient Green Power

Orient Green Power Company is up in trade after the divestment of its biomass subsidiaries. In an interview to CNBC-TV18, S Venkatachalam, MD of the company spoke about the latest happenings in the company and gave his outlook for the future.

Venkatachalam said biomass had about 106 mw and it was contributing negative EBITDA over last two-three years for various reasons.

Therefore, we came up with an idea of divesting it and giving the shareholders value for their money, he added.

On debt front, he said the total debt is at Rs 1,650 crore and we are looking to refinance our debt.

He further said that the accumulated loss of Rs 50 crore will be off our books post sale of subsidiaries.

We are looking to target EBITDA of Rs 330 crore for FY18, he added.

Watch accompanying video for more details.