1. Summary Information
|
|
|
Country |
|
|
Company Name |
NTPC LIMITED |
Principal Name 1 |
Mr. A.N. Dave |
|
Status |
Good |
Principal Name 2 |
Mr. S.N Banerjee |
|
|
|
Registration # |
55-007966 |
|
Street Address |
NTPC Bhawan, Scope Complex, 7,
Institutional Area, Lodhi Road, New Delhi – 110 003, India |
||
|
Established Date |
07.11.1975 |
SIC Code |
-- |
|
Telephone# |
91-11-24360100
|
Business Style 1 |
Electricity
Generating |
|
Fax # |
91-11-24361018 |
Business Style 2 |
Operation
and Maintenance |
|
Homepage |
Product Name 1 |
Super
Thermal Power Stations |
|
|
# of employees |
24375
(Approximately) |
Product Name 2 |
Associated
Transmission Lines. |
|
Paid up capital |
Rs.
82,454,644,000/- |
Product Name 3 |
- |
|
Shareholders |
Shareholding
of Promoter - 84.50 Public
shareholding - 15.50 |
Banking |
Allahabad Bank |
|
Public Limited Corp. |
Yes |
Business Period |
36 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
A
(66) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiaries : |
-- |
NTPC Electric Supply Company Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
317,576,700,000 |
Current Liabilities |
103,204,800,000 |
|
Inventories |
36,391,200,000 |
Long-term Liabilities |
431,882,400,000 |
|
Fixed Assets |
392,359,600,000 |
Other Liabilities |
43,064,000,000 |
|
Deferred Assets |
4,591,500,000 |
Total Liabilities |
578,151,200,000 |
|
Invest& other Assets |
506,154,700,000 |
Retained Earnings |
596,467,900,000 |
|
|
|
Net Worth |
678,922,500,000 |
|
Total Assets |
1,257,073,700,000 |
Total Liab. & Equity |
1,257,073,700,000 |
|
Total Assets (Previous Year) |
1,128,737,000,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
548,740,000,000 |
Net Profit |
91,025,900,000 |
|
Sales(Previous yr) |
463,225,000,000 |
Net Profit(Prev.yr) |
87,282,000,000 |
MIRA
INFORM REPORT
|
Report Date : |
23.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
NTPC LIMITED |
|
|
|
|
Formerly Known
As : |
NATIONAL
THERMAL POWER CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
NTPC
Bhawan, Scope Complex, 7, Institutional Area, Lodhi Road, New Delhi – 110 003 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
07.11.1975 |
|
|
|
|
Com. Reg. No.: |
55-007966 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.82454.644 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L40101DL1975GOI007966 |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on the
Stock Exchange. |
|
|
|
|
Line of Business
: |
Electricity
Generating Company with the Objectives of Construction, Operation and
Maintenance of Super Thermal Power Stations and their Associated Transmission
Lines. |
|
|
|
|
No. of Employees
: |
24375 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 2700000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a government of The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered
Office : |
NTPC Bhawan,
Scope Complex, 7, Institutional Area, |
|
Tel.
No.: |
91-11-24361557/24361012/24360100
(10 Lines) |
|
Fax
No.: |
91-11-24368417/24361018 |
|
E-Mail
: |
|
|
Website
: |
|
|
|
|
|
NTPC
Regional Offices: |
R and
D, Centre, 8A, Sector - 24, Noida - 201301, District Engineering office complex Plot
NO. 8A, Sector -16A, Noida - 201301, Dist. Power management institute Plot
No. 5 to 14, Sector - 16A, Noida - 201301, Dist. Website.
http://www.pmintpc.com Consultancy wing Core
No.6, 7th Floor, Scope Complex, 7, Tel.
No. 91-11-24360100/24361097/24361665/24365812/24362009 Fax.
No. 91-11-24361903/24360910/24360898 Center
satellite earth station (cces) Pipeline
Road, Muradnagar, Distt. Ghaxiabad - 201206, Tel.
No. 91-118-241285 |
|
|
|
|
Corporate
Office : |
Core
5, Second Floor, SCOPE Complex, |
|
Tel.
No.: |
91-11-24365088 |
|
Fax
No.: |
91-11-24361903
/ 3064 / 1781 |
|
|
|
|
Regional
Headquarters : |
Eastern Region 2nd
Floor, Tel.
No. 91-612-2232127 Fax.
No. 91-612-2230758/2230035 E-mail:
ntpcer@vsnl.com National
Capital Region
Tel.
No. 91-118-24410333 (10 Lines)/24410133 (5 Lines)/24410116(5 Lines) Fax.
No. 91-118-24410311 Northern Region Ist
Floor, B-1, Block Picup, Bhawan Vibhuti, Khand, Gomti Nagar, Lucknow-226010, Tel.
No. 91-522-2395870/2394630/2395604 Fax.
No. 91-522-2398941/2391816 Tel.
No. 91-532-2621989/2621990/2621984 Fax.
No. 91-532-2621981 E-mail.
ntpc/allahabad@dartmail.dolnet.com
2nd
and 5th Floors, M.C.H. Complex, Tel.
No. 91-40-27717267-70 Fax.
No. 91-40-27800743/27804516 E-mail.
ntpcsr@ap.nic.in Western Region Samruddhi
Trade Centre, 2nd Floor, MIDC, Marol Andheri (East), Mumbai-400093, Tel.
No. 91-22-28310213/28227762/28310214/28209197 Fax.
No. 91-22-28310218/28310219 |
|
|
|
|
Thermal
Power Stations: |
Dadri,
Tanda, Unchahar, Kahalgaon, Farakka, Rihand, Kobra, Talcher TPS, Vindhyachal,
Singrauli, Ramagundam and Simhadri |
|
|
|
|
NTPC
Managed Stations: |
Located at: Badarpur
and Balgo |
|
|
|
|
Gas
Power Stations : |
Anta,
Auraiya, Gandhar, Kawas and Kayamkulam |
|
|
|
|
Branch
Office : |
Shakti
Nagar, 23122, Dist. Mirzapur, Uttar Pradesh |
|
|
|
|
Projects
: |
Anta Gas Power Project P.O.-Anta, Distt-Baran-325209 Rajasthan Auraiya Gas Power Station P.O.-Dibiyapur,
Distt-Auraiya-206244, Barn Super Thermal Power
Project Malayan! I Buddha Colony,
Patna-800001, Badarpur Thermal Power Station Badarpur, New Delhi-110044, Farakka Super Thermal Power
Station P.O. Nabarun-742236,
District-Murshidabad, West Village – Mujhedi, P.O. Neemka,
District – Feroz Gandhi
Unchahar Thermal Power Project P.O. Unchahar, District
-Raibareilly, Jhanor-Gandhar Gas Power
Project P.O.-Urja Nagar, Jhanor,
District -Bharuch Gujarat-392215 Korba Super Thermal Power
Station P. O. Vikas Bhawan, Jamanipali
– 495450, District Korba, Kahalgaon Super Thermal Power
Project P.O.-Kahalgaon,
District-Bhagalpur-813214, Kawas Gas Power Project P.O. - Adityanagar, Kayamkulam Combined Cycle Power Project, P.O.
Choolatheruvu, District- Alappuzha - 690506, Koldam
Hydroelectric Power Project P.O. Barmana, District
Bilaspur-174013, National Capital Power Station Vidyut Nagar, District Gautam
Budh Nagar- 201008, Loharinag-Pala
Hydroelectric Power Project 27 & 28, Maneri Colony,
P.O. Maneri, District Uttarkashi – 249194, Ramagundam Super Thermal Power
Station P.O. Jyotinagar, District -
Karimnagar- 505215, Rihand Super Thermal Power
Project P.O. Rihandnagar, District
-Sonebhadra - 231223, Simhadri Thermal Power Project P.O. NTPC Simhadri, District
Vishakhapatnam – 531020, Singrauli Super Thermal Power
Station P.O. Shaktinagar, District
Sonebhadra - 231222, Sipat Super Thermal Power
Station P.O. Sipat, Distt. Bilaspur –
495006, Talcher Super Thermal Power
Project P.O. Deepsikha (Kaniha),
District - Angul - 759147, Talcher Thermal Power Station P.O. Talcher Thermal,
Distt.-Angul – 759101, Tanda Thermal Power Station P.O. Vidyut Nagar Distt. Ambedkar Nagar - 224238,
Tapoban
Vishnugad Hydroelectric Power Project Ranigram, Joshi Math, Vindhyachal Super Thermal Power
Station P.O.-Vindhyanagar, District
-Sidhi - 486885, |
DIRECTORS
As on 20.09.2011
|
Name : |
Mr. A.N. Dave |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. S.N Banerjee |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. Rajeshwar Dutt |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. N K Sharma |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. A K Jha |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. K K Sharma |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. S C Pandey |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. G J Deshpande |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. A C Chaturvedi |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. K Siva Kemar |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. Sharad Anand |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. Umesh Prasad Pani |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. Virendra Kumar Gupta |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. R K Singh Gahlowt |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. R. Venkateswaran |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. M K V R Rao |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. S N Goel |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. S N Ganguly |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. Jayadeb Nanda |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. Saptarsi Roy |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Dr. Janardan Kar |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. M S Soin |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. Dinesh Kumar Agrawal |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. R C Dhup |
|
Designation : |
Executive Directors |
|
|
|
|
General Manger |
G.D. Agrawal S.K. Dutta J.K. Mehta M.S. Chawla R.K. Sikri R.N. Mehrotra A.K. Chatterjee Dinesh Agrawal Rakesh Khetarpal A.K. Sharma A.K. Mohindru Ashwani Sharma K.K. Sharma S.L.Arya B.K. Soni K.I. Singh Y.V. Rao S.J. Sankar V.K.C. Mohan Thomas Joseph G.K. Sadhu Sivaraman Krishnamurtt R.K. Srivastava S.J. Muley K.S. Garbyal S.P. Singh S.N.P. Goel B.K. Srivastava D. Saha H.K. Sandhir S.C. Gupta K.K. Singh Sangeet Kumar Dave S.K. Singh Shashi Ranjan, P. Ramesh V.B. Fadnavis Asim Kumar Haldar A.K. Gupta Ajit Kumar R.S. Rathee P.R.Dahake Dushyant Kumar Sood Gopal Ravindra P.K. Mohapatra J.N. Singh Anil Kumar Rastogi A. Upendra Rao Anil Kumar Pradeep Bhaskar Behere Govinda Chandra Mishra Vinod Kurnar Agarwal Prern Prakash Pathak O.P. Khorwal Sankar Bandyopadhyay P.S. Radhakrishnan V.S. Tamrakar Pankaj Bhartiya Vinod Kumar Padha Sanjay Kumar Sur lnder Kumar Rajdwa T. N. Pathak N.K. Srivastava S.K. Jain A.K. Garg Ramkrishna Pal S.K. Patnaik S.K. Roy Arun Kurnar Sinha Dwashis Bssu Subhasis Ghosh Nageen Kumar Kothari Pramod Kurnar V. Thangapandian Ajit Kumar Bhatnagar Sudhir Arya Shyamal Ray G.Jeya Prakash Narayan Madan S.V Mohan R.R. Shrivastava Arun Prakash Trivedi Rajiv Kumar Jain Yogendra Singh Jaiwant Pesumal Sachdev Manki Dilip Singh Ramahuj Mishra Dileep Mathur Ramesh Chand Prakash Harisinghaney Asit Baran Halder Sure Krishna Reddy Kunchala Sreenivasa Rao Harbans Singh Dilip Kumar Dubey Pranab Kurnar Bhattacharya Ajay Kumar Atrea Jadav Datta Satinder Pal Singh Kothandaraman Sreedhar K.V. Adivarahan Arun Kumar Gupta Revti Raman Murari Prasad Sinha Jambulingam Rajendran Atul Shrivastava Prakash Tiwari Anil Kumar Bansal Manoj Saxena Ms.Gitika Shiv Rakesh Samuel Shrikrishna Madhao Khare Tilak Raj Datta Jai Prakash Srivastava Pravin Kurnar Gupta Ms.Arundhati Bhattacharya Praveen Kurnar Bondriya Asim Kumar Samanta Balaji lyengar Vipan Kumar |
|
|
|
KEY EXECUTIVES
|
Name : |
Mr. A K Rastogi |
|
Designation : |
Company Secretary |
|
|
|
|
General Manger: |
Biswanath Mukherjee Anuttam Chaudhuri Kannan Narayanan Anil Gupta C.S. Gupta Vijay Damodar Paranjape Tufani Ram Atul Goyal R.K. Jain Syam Sundar Sen R.K. Bhatnagar Dharamdas Chakrabarty Janhvi Shanker Devraj Bhattacharjee Chander Prakash Malik Prabhat Kurnar Joseph Kurian B.D. Gondekar Gour Das Basu P.S. Rao A.K. Sinha Vedula Mohan Rao Satish Chandra Jha Amarinder Kumar Maggu Kaza Ram Chandra Murty Debasis Sarkar |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2011
|
Category of Shareholder |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
6,967,361,180 |
84.50 |
|
|
6,967,361,180 |
84.50 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
6,967,361,180 |
84.50 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
102,197,711 |
1.24 |
|
|
552,125,001 |
6.70 |
|
|
307,924,621 |
3.73 |
|
|
962,247,333 |
11.67 |
|
|
|
|
|
|
143,182,739 |
1.74 |
|
|
|
|
|
|
152,602,674 |
1.85 |
|
|
13,676,002 |
0.17 |
|
|
6,394,472 |
0.08 |
|
|
3,978,602 |
0.05 |
|
|
1,303,136 |
0.02 |
|
Overseas
Corporate Bodies |
2,500 |
- |
|
Foreign
Corporate Bodies |
1,500 |
- |
|
Foreign
Nationals |
2,683 |
- |
|
Directors and their Relative and Friends |
37,209 |
- |
|
Clearing
members |
1,068,842 |
0.01 |
|
|
315,855,887 |
3.83 |
|
Total Public shareholding (B) |
1,278,103,220 |
15.50 |
|
Total (A)+(B) |
8,245,464,400 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total (A)+(B)+(C) |
8,245,464,400 |
100.00 |
(1)
Indian
Central
Government / State Government(s)
Individual
shareholders holding nominal share capital up to Rs. 0.100 MillionBUSINESS DETAILS
|
Line of Business : |
Electricity
Generating Company with the Objectives of Construction, Operation and
Maintenance of Super Thermal Power Stations and their Associated Transmission
Lines. |
|
|
|
|
Products : |
·
Generation of Electricity ·
Consultancy Services ·
Management of Power Stations |
|
|
|
PRODUCTION STATUS
As on 31.03.2011
|
Particulars |
Units |
|
|
Installed
Capacity |
|
MW Commercial units |
MUs |
|
|
29892 |
|
Quantitative information in respect of Generation: |
|
|
|
|
|
a) Pre-commissioning period : |
|
|
|
|
|
Generation (in MUs) |
|
|
|
162 |
|
b) Commercial period : |
|
|
|
|
|
Generation (in MUs) |
|
|
|
220379 |
|
|
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
24375 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
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|
Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
(Rs.
In Millions) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dass Gupta and Associates Chartered Accountants S.K. Mittal and Company Chartered Accountants Varma and Varma Chartered Accountants Parakh and Company Chartered Accountants B.C. Jain and Company Chartered Accountants S.K. Mehta and Company Chartered Accountants |
|
|
|
|
Joint Ventures: |
Utility Powertech Limited, NTPC- Alstom Power Services Private
Limited, BF-NTPC Energy System Limited |
|
|
|
|
Subsidiaries : |
|
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000000 |
Equity Shares |
Rs.10/- each |
Rs.100000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8245464400 |
Equity Shares |
Rs.10/- each |
Rs.82454.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
82454.600 |
82454.600 |
82455.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
596467.900 |
541919.600 |
491246.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
678922.500 |
624374.200 |
573701.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
99106.800 |
90799.200 |
89696.000 |
|
|
2] Unsecured Loans |
332775.600 |
287171.000 |
255982.000 |
|
|
TOTAL BORROWING |
431882.400 |
377970.200 |
345678.000 |
|
|
DEFERRED TAX LIABILITIES |
6029.500 |
2092.500 |
1.000 |
|
|
Deferred Revenue on account of Advance against
Depreciation |
7920.500 |
16108.400 |
19360.000 |
|
|
Deferred Income from Foreign Currency Fluctuation |
624.300 |
0.000 |
6077.000 |
|
|
Deferred Foreign Currency Fluctuation Liability |
965.400 |
610.500 |
545.000 |
|
|
|
|
|
|
|
|
TOTAL |
1126344.600 |
1021155.800 |
945362.000 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
392359.600 |
347612.900 |
329377.000 |
|
|
Capital work-in-progress |
333263.400 |
267623.900 |
212211.000 |
|
|
Construction Stores and Advances |
49442.900 |
53419.200 |
51838.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
123448.400 |
148070.900 |
139835.000 |
|
|
Deferred Foreign Currency Fluctuation Assets |
4591.500 |
3651.700 |
9734.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
36391.200
|
33477.100
|
32434.000
|
|
|
Sundry Debtors |
79243.100
|
66514.600
|
35842.000
|
|
|
Cash & Bank Balances |
161852.600
|
144594.800
|
162716.000
|
|
|
Other Current Assets |
10469.700
|
8440.400
|
9792.000
|
|
|
Loans & Advances |
66011.300
|
55131.100
|
68469.000
|
|
Total
Current Assets |
353967.900
|
308158.000
|
309253.000
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
76279.000
|
55905.600
|
52075.000
|
|
|
Other Current Liabilities |
26925.800
|
20970.200
|
22316.000
|
|
|
Provisions |
27524.300
|
30705.800
|
32495.000
|
|
Total
Current Liabilities |
130729.100
|
107581.600
|
106886.000
|
|
|
Net Current Assets |
223238.800
|
200576.400
|
202367.000
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Deferred Expenditure From Foreign Currency Fluctuation |
0.000 |
200.80 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1126344.600 |
1021155.800 |
945362.000 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
548740.000 |
463225.900 |
419238.000 |
|
|
|
Energy Internally Consumed |
647.000 |
551.000 |
514.000 |
|
|
|
Provisions Written Back |
78.100 |
127.700 |
170.000 |
|
|
|
Other Income |
24608.100 |
28561.900 |
32539.000 |
|
|
|
TOTAL (A) |
574073.200 |
492466.500 |
452461.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Fuel |
353737.800 |
294627.400 |
271107.000 |
|
|
|
Employees' remuneration and
benefits |
27897.100 |
24123.600 |
24631.000 |
|
|
|
Generation, administration
& other expenses |
26460.100 |
20940.300 |
18192.000 |
|
|
|
Provisions |
15521.500 |
109.000 |
246.000 |
|
|
|
Prior Period Income/ Expenses |
(16387.200) |
(778.300) |
1083.000 |
|
|
|
TOTAL (B) |
407229.300 |
339022.000 |
315259.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
166843.900 |
153444.500 |
137202.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
21490.800 |
18089.300 |
19962.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
145353.100 |
135355.200 |
117240.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
24856.900 |
26500.600 |
23645.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
120496.200 |
108854.600 |
93595.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
29470.300 |
21572.600 |
11582.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
91025.900 |
87282.000 |
82013.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
297.000 |
151.000 |
211.000 |
|
|
|
|
|
|
|
|
|
|
Write back from Bond Redemption Reserve |
2500.000 |
2000.000 |
1250.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Bonds Redemption Reserve |
4949.400 |
4977.800 |
4537.000 |
|
|
|
Transfer to Capital Reserve |
68.700 |
49.700 |
86.000 |
|
|
|
Transfer to General Reserve |
52000.000 |
47500.000 |
44000.000 |
|
|
|
Dividend - Interim |
24736.300 |
24736.400 |
23087.000 |
|
|
|
- Final (Proposed) |
6596.300 |
6596.300 |
6596.000 |
|
|
|
Tax on Dividend - Interim |
4108.400 |
4204.000 |
3914.000 |
|
|
|
- Final |
1039.300 |
1072.200 |
1103.000 |
|
|
|
|
|
|
83323.000 |
|
|
BALANCE CARRIED
TO THE B/S |
324.500 |
297.000 |
151.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Professional & Consultancy fee |
10.100 |
8.000 |
21.000 |
|
|
|
Interest |
0.000 |
0.000 |
14.000 |
|
|
|
Other Earnings |
1.100 |
1.000 |
1.000 |
|
|
TOTAL EARNINGS |
11.200 |
9.000 |
36.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
9653.100 |
8969.700 |
10386.000 |
|
|
|
Spare Parts |
987.300 |
1392.600 |
919.000 |
|
|
TOTAL IMPORTS |
10640.400 |
10362.300 |
11305.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.04 |
10.59 |
9.95 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2011 (1st Quarter) |
30.09.2011 (2nd Quarter) |
31.12.2011 (3rd Quarter) |
|
Net Sales |
|
145242.300 |
156988.000 |
153833.900 |
|
Total Expenditure |
|
113416.200 |
121843.800 |
125125.800 |
|
PBIDT (Excl OI) |
|
31826.100 |
35144.200 |
28708.100 |
|
Other Income |
|
6436.600 |
6880.700 |
8620.300 |
|
Operating Profit |
|
38262.700 |
42024.900 |
37328.400 |
|
Interest |
|
3379.900 |
2854.300 |
4139.800 |
|
Exceptional Items |
|
0.000 |
0.000 |
0.000 |
|
PBDT |
|
34882.800 |
39170.600 |
33188.600 |
|
Depreciation |
|
6411.300 |
6582.800 |
7560.300 |
|
Profit Before Tax |
|
28471.500 |
32587.800 |
25628.300 |
|
Tax |
|
7713.700 |
8346.600 |
4324.400 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
|
20757.800 |
24241.200 |
21303.900 |
|
Net Profit |
|
20757.800 |
24241.200 |
21303.900 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
15.85
|
17.72
|
18.13
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
21.95
|
23.50
|
22.33
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
34.04
|
35.32
|
30.26
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.17
|
0.16
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.19
|
0.78
|
0.79
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.70
|
2.86
|
2.89
|
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
No |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
During the year 2010-11, the Company has added capacity of 2,490 MW (including 500 MW through JV) which is the highest ever in a year since its inception. After commissioning of one unit of 660MW at Sipat in June 2011. The Company has become a 34,854 MW Company (including 3,364 MW through JV).
FINANCIAL PERFORMANCE
Income The total income of the company for the year increased by 16.59% to Rs.573994.900 Millions from Rs. 492338.8 Millions during the previous year. Profit After Tax: The profit after tax but before provisions and prior period adjustments increased by 4.16% to Rs. 90082.1 00 Millions from Rs. 86485.000 Millions. Net profit after tax increased to Rs. 91025.900 Millions from Rs. 87282.00 Millions Registering a growth of 4.29% over last year. OPERATIONAL PERFORMANCE Generation: During the year, the power stations of the Company generated 220.54 BU of electricity which was 27.19% (29.18% including JVs) of the total power generated in India. The power generated by the company has registered an increase of 0.77% over the previous year`s generation of 218.84 BU. The Company (including JVs) contributed 16.93% of the generation increase in the country during the year. The total generation contributed by coal stations is 195.28 BU during the year against generation of 191.26 BU last year registering a growth of 2.1%. Generation from coal station could have been still higher but for an unprecedented generation loss of 5.94 BU due to less grid demand. The gas stations having commercial capacity of 3,955 MW achieved annual generation of 25.26 BU at a PLF of 71.77 as against 27.58 BU last year due to lowergrid demand which resulted in generation loss of 7.29 BUs. The average availability of gas based stations of the year was 92.60% as compared to 90.64% during previous year. The coal based stations of the company operated at average Plant Load Factor (PLF) of 88.29% (National PLF 75.08%) and average Availability Factor of 91.67% on bar during the year. As on 31.03.2011, the Company has an installed coal based capacity of 26,875 MW excluding 1,424 MW from JV Projects. During the year, 10 coal based stations out of 15 achieved more than 90% PLF including three stations registering PLF above 95%. COMMERCIAL PERFORMANCE Realisation of Dues: During the year, the Company realized 100% payment of current bills raised for sale of power for the eighth successive year. All the beneficiaries are paying within 30 days of billing except UPPCL, BSEB and JSEB which are making payment within the permissible 60 days period. Rebate Scheme/One Time Settlement Scheme for realization of dues: An innovative rebate scheme of providing incentive for early payment based on provisional bill has helped in achieving early realization of dues. All the beneficiaries have established and are maintaining Letters of Credit (LC). As on date, the Company has monthly LCs of Rs. 43860.300 Millions. RBI, on behalf of State Governments, serviced redemptions due on bonds and half-yearly interest installments on bonds in time as per One Time Settlement Scheme. The matter of securitization of outstanding dues amounting to Rs.13108.300 Millions pertaining to DESU period payable by Government of NCT of Delhi is under active consideration by the Ministry of Power. Power Purchase Agreements: The Company had signed Power Purchase Agreements (PP As) for 49000 MW capacity during the year. Government of India (Gol) has issued an order for allocation of 50% powerto Home Stateson 17.01.2011 for 14 upcoming projects of the Company. Gol has allocated 75MW each from Farakka III (500 MW) and Korba III (500MW) for sale outside long term PPA. It has issued Scheme for provision of supply of electricity in 5 km area around Central Power Plants on 27.04.2010. 29 stations and projects of the Company have been identified for this purpose and implementation of the scheme is under progress. Commercial Capacity: The following units were declared commercial during the year 2010-11, adding 1600 MW to commercial capacity of the Company: Determination of Tariff: The Company has filed tariff petitions for the five-year period starting 1.4.2009 before CERC for all stations in accordance with the CERC (Terms and Conditions of Tariff) Regulations, 2009. Pending final orders, CERC has issued provisional tariff orders for 26 stations of the Company for the period 2009-2014. Strengthening Customer Relationship:
Customer Relationship Management (CRM) initiative has been taken by the company towards trengthening relationship with our customers. Under this, regular structured interaction with customers takes place regularly for sharing of feedbacks /experiences / expectations. These meetings provide a platform for more interaction and sharing of experiences for mutual benefits. Based on the feedback received from the customers, the Company provides various support services to them, identifies potential areas of cooperation and shares best practice on a basis of mutuality. Besides, the Company also organized Regional Customer Meets, State specific Business Partner Meets and GENCOs Meets for better interaction and Sharing of experience. Starting from 2008-09, NTPC has rolled out a Customer Satisfaction Index (CSI) for gathering customers` feedback and responding to their requirement. This initiative serves as a useful tool For further strengthening Customer Relationship and better appreciation of our business imperatives. INSTALLED CAPACITY
During the year 2010-11, the Company added 2490 MW
Installed Capacity of NTPC Group: The total installed capacity of the NTPC Group has increased from 31,704 MWat the end of financial year 2009- 10 to 34,194 MW at the end of financial year 2010- 11. Further 660 MW of Sipat Unit#1 was added in June 2011, thereby increasing the total installed capacity to 34,854 MW. CAPACITY ADDITION PROGRAM Towards its journey to become the world`s largest and best power producer, the company has embarked upon an ambitious capacity addition program so as to have an installed capacity of 128GW by 2032. The Company has adopted a multi-pronged growth strategy which includes capacity addition through green field projects, brown field expansions, joint ventures and acquisitions. In addition to furthering capacity addition through Coal/ Gas based thermal power projects, the company has been pursuing enhancement of its power generation portfolio through Hydro, Renewable Energy and Nuclear energy projects. At present 1,320 MW Hydro capacity is under implementation together with 291 MW under bidding. In its endeavor towards Greener Power, the Company plans to add around 1000 MW from Renewable Energy Sources by 2017. Projects under Implementation As on 31.03.2011, The Company`s various projects having aggregate capacity of 14,748 MW including 3,890 MW, being undertaken by Joint Venture companies, are under construction 660 MW of Sipat Unit#1 commissioned on 28.06.2011 New Projects The Company at present has invited bids for Main plant packages, for 18,051 MW capacity (14,460 MW NTPC owned and 3,591 MW through its JVs and Subsidiaries). For most of the new projects, the Company is going for setting up Super Critical units of 660 / 800 MW which have higher efficiency and are also environment friendly. Towards this end, the company has invited bids under Bulk tendering for 5,940 MW capacity through 9 units of 660 MW and 7,200 MW capacity through 9 units of 800 MW respectively. Balance 4911 MW capacity, apart from 660MW units is envisaged through coal based, Gas based, Hydro and Renewable Energy projects. The Company has also taken up studies / preparation of Feasibility Reports and is pursuing statutory clearances for various other projects to be taken up in future once their viability is established. In order to meet the future challenges of meeting India`s electricity needs at affordable cost with minimum environmental impact, the Company has drawn a long term Technology Roadmap up to 2032 which involves development, adoption and promotion of safe, efficient and clean technologies for entire value chain of power generation business. Some of the technologies which the Company has targeted include setting up of coal fired units with Ultra Supercritical Parameters, establishment of Indian Coal Based Gasifier & Gas Cleaning System for IGCC. NTPC has adopted various technologies like units with advanced steam parameters for improving efficiency over that of conventional 500MW sub-critical plants. For the new sub-critical 500 MW Units, reheat temperature has been increased to 565 degree Centigrade resulting in about 0.7% gain in efficiency. The Company is also adopting technologies like flue gas desulphurization, ammonia flue gas conditioning system, advanced dust collection technology, high efficiency motors, energy efficient lighting system, plant C&l network Security System etc. Project Management - A New Approach The Company believes that in order to achieve its ambitious capacity addition targets, it has to build on its capabilities and leverage its expertise in power project execution. Accordingly, it has revised its delegation of powers and has empowered its regions and projects to enable faster decision making. The Company has already established a state-of-the-art IT enabled Project Monitoring Centre (PMC) for facilitating fast track project implementation. PMC has some advanced features like Web-based Milestone Monitoring System (Webmiles), Project Review and Internal Monitoring System (PRIMS), Enterprise-wide Issues Tracking System etc. The PMC facilitates monitoring of key project milestones and also acts as Decision Support System for the management. Features like SMS bsed information Delivery, Real time Video Capture, Storage & Retrieval Facility and Video Conference Facility are extensively utilized for project tracking, resolution of issues and management interventions. Capacity addition through Subsidiaries and Joint Ventures (JVs) Besides adding capacities on its own, the Company plans to add capacities through some of its subsidiaries and joint ventures. The detail of JV Companies/ Subsidiaries along with details of Joint Venture partners for addition of coal based capacity. Other Initiatives: The Company has signed MOU with Government of Punjab and Punjab Power Corporation Limited to set up 2640MW power project at Gidderbaha in the State of Punjab. Another MOU has been signed with Government of Madhya Pradesh and MP Tradeco Limited to set up 3960 MW power project at Barethi, Distt. Chhatarpur, Madhya Pradesh. The Company has also signed MOU with Ministry of Railways to set up 1320 MW power plant at Adra, West Bengal.
NTPC-BHEL Power Projects Pvt. Limited (NBPPL), a joint venture of the Company with BHEL, incorporated on April 28,2008 for taking up activities of Engineering, procurement and construction of power plants and manufacturing of equipments, has acquired 750 acres of land at Mannavaram in Andhra Pradesh. Construction at site is in progress. The Company has bagged two contracts for EPC and Balance of Plant for Palatana Combined Cycle Power Plant in Tripura and Namrup Combined Cycle Power plant from BHEL on nomination basis. The Company is also negotiating with NBPPL for award of EPC contract for Unchahar Stage-IV (500MW). NBPPL is also exploring technology tie-up for Coal Handling Plant and Ash Handling Plant. Another joint venture Company, BF-NTPC Energy Systems Limited was incorporated with Bharat Forge Limited on June19, 2008 to manufacture castings, forgings, fittings and high pressure piping required for power projects and other industries. Land acquisition for establishing manufacturing plant at Sholapur, Maharashtra is in progress. Business/ Technical alliances for key product lines are being actively pursued. The Company has acquired 44.6% stake in Transformers and Electricals Kerala Limited from Government of Kerala on June 19,2009. The Company deals in manufacturing and repair of Power Transformers. The Company plans to augment the existing capacity to 6000MVA. For expansion and upgradation of the facility, technology tie-up is being pursued. Apart from the above initiatives, a subsidiaryof the Company namely NTPC Electric Supply Company Limited, has commenced business of distribution of power through its JVC namely KINESCO Power and Utilities Private Limited, formed with KINFRA. Please referto "Management Discussion and Analysis", Annexure-I included as a separate section to this report for further details. FINANCING OF NEW PROJECTS The capacity addition programs shall be financed with a debt to equity ratio of 70:30. The directors believe that internal accruals of the Company would be sufficient to finance the equity component for the new projects. Given its low gearing and strong credit ratings, the Company is well positioned to raise the required borrowings. The Company is exploring domestic as well as international borrowing options including overseas development assistance provided by bilateral agencies to mobilize the debt required for the planned capacity expansion program. During the year 2010-11, the Company has tied up loans of Rs. 34790.000 Millions including loan of Rs. 2000 0.000 Millions from HUDCO Ltd. and Rs. 10000.000 Millions from HDFC Bank Limited for part funding of debt requirement in respect of capex for next three years. In addition, loans amounting to Rs. 4790.000 Millions have also been tied with other banks to fulfill the debt requirement for next three years. TheCompanyhas entered into Term Loan Agreement with State Bank of India on 07.07.2011 for Rs. 100000.000 Millions for financing NTPC`s Ongoing Capital Expenditure for various power generation projects including renovation/ modernization of existing power plants. Bonds amounting to Rs. 7200.000 Millions were raised from domestic market for financing the capital expenditure and refinancing ofthe loans. The Company raised USD 500 million senior unsecured fixed rate 10 year bonds under its USD One Billion MTN programme during July 2011. The bonds carry a coupon of 5.625% p.a. payable semiannually and are due for maturity in July 2021. OUTLOOK
During the period 2001-02 to 2010-11, power generation in india has
grown at CAGR of 5.17%. As per 17th EPS the energy requirement at
the end of 12th plan would be 1392 Bus. To chive this target,
generation has to grow at a CAGR of over 9.0 % and hence, offers multiple
opportunities of growth to public as well as private sector entities.
UNAUDITED FINANCIAL RESULTS FOR THE
QUARTER ENDED 31st DECEMBER 2011
(Rs. in millions)
|
S. No. |
Particulars |
Quarterly
Ended 31.12.2011 (Unaudited) |
Quarterly
Ended 30.09.2011 (Unaudited) |
Nine-Month
Period Ended 31.12.2011 (Unaudited) |
|
1 |
(a) Net Sales (Net of Electricity Duty) |
153323.000 |
153775.400 |
448813.300 |
|
|
(b) Other Operating Income |
510.900 |
363.100 |
3698.500 |
|
|
(c) Depreciation written back (net) and advances against depreciation
recognized as prior period sales |
10.100 |
0.000 |
752.100 |
|
|
Total (a+b+c) |
153844.000 |
154138.500 |
453263.900 |
|
2 |
Expenditure |
|
|
|
|
|
(a) Fuel Cost |
107932.900 |
106494.000 |
311925.100 |
|
|
(b) Employees Cost |
7188.200 |
7846.100 |
21941.500 |
|
|
(c) Depreciation |
7560.300 |
6582.800 |
20554.400 |
|
|
(d) Other Expenditure |
9162.400 |
7046.200 |
24855.700 |
|
|
(e) Provisions |
485.900 |
0.100 |
486.100 |
|
|
Total (a+b+c+d+e) |
132329.700 |
127969.200 |
379762.800 |
|
3 |
Profit from Operations before Other Income, Interest & Exceptional
Items (1-2) |
21514.300 |
26169.300 |
72759.100 |
|
4 |
Other Income |
8610.200 |
9730.200 |
25479.900 |
|
5 |
Profit before Interest & Exceptional Items (3+4) |
30124.500 |
35899.500 |
98239.000 |
|
6 |
Interest & Finance Charges |
4496.200 |
3311.7.000 |
11551.400 |
|
7 |
Profit after Interest but before Exceptional Items (5-6) |
25628.300 |
32587.800 |
86687.600 |
|
8 |
Exceptional items |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
9 |
Profit (+) /Loss (-) from Ordinary Activities before Tax (7+8) |
25628.300 |
32587.800 |
86687.600 |
|
10 |
Tax Expenses: |
|
|
|
|
|
a) Current Tax |
3288.200 |
9941.200 |
21361.500 |
|
|
b) Deferred Tax |
1036.200 |
(1594.600) |
(976.800) |
|
|
Total Tax Expenses (a+b) |
4324.400 |
8346.600 |
20384.700 |
|
11 |
Net Profit (+)/ Loss (-) from Ordinary Activities after Tax (9-10) |
21303.900 |
24241.200 |
66302.900 |
|
12 |
Extraordinary Items (Net of tax expenses) |
0.000 |
0.000 |
0.000 |
|
13 |
Net Profit (+)/ Loss (-) for the period (11-12) |
21303.900 |
24241.200 |
66302.900 |
|
14 |
Paid-up Equity Share Capital |
82454.600 |
82454.600 |
82454.600 |
|
15 |
Paid-up Debt Capital |
-- |
-- |
-- |
|
16 |
Reserves excluding Revaluation Reserve as per Balance Sheet of 31st
March 2010 |
-- |
-- |
-- |
|
17. |
Debenture Redemption Reserve |
-- |
-- |
-- |
|
18 |
Earning per share – (EPS in Rs.) |
|
|
|
|
|
(a) Basic and diluted EPS before Extraordinary items (not annualized) |
2.58 |
2.94 |
8.04 |
|
|
(b) Basic and diluted EPS after Extraordinary items (not annualized) |
2.58 |
2.94 |
8.04 |
|
19 |
Debt Equity Ratio |
-- |
-- |
-- |
|
20 |
Debt Service Coverage Ratio (DSCR) |
-- |
-- |
-- |
|
21 |
Interest Service Coverage Ratio (ISCR) |
-- |
-- |
-- |
|
22 |
Public Shareholding |
-- |
-- |
-- |
|
|
(a) Number of shares |
1278103220 |
1278103220 |
1278103220 |
|
|
(b) %age of shareholding |
15.50 |
15.50 |
15.50 |
|
23 |
Promoters and Promoter Group Shareholding |
|
|
|
|
|
(a) Pledged/Encumbered |
|
|
|
|
|
- Number of Shares |
-- |
-- |
-- |
|
|
- Percentage of share (as % of the total shareholding of promoter and
promoter group) |
-- |
-- |
-- |
|
|
- Percentage of share (as % of the total share capital of the company) |
-- |
-- |
-- |
|
|
(b) Non-encumbered |
|
|
|
|
|
- Number of Shares |
6967361180 |
6967361180 |
6967361180 |
|
|
- Percentage of share (as % of the total shareholding of promoter and
promoter group) |
100.00 |
100.00 |
100.00 |
|
|
- Percentage of share (as % of the total share capital of the company) |
84.50 |
84.50 |
84.50 |
REPORTING OF SEGMENTWISE REVENUE,
RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER AND NINE- MONTHS PERIOD ENDED 31ST
DECEMBER 2011
(Rs. in millions)
|
S. No. |
Particulars |
Quarterly
Ended 31.12.2011 (Unaudited) |
Quarterly
Ended 30.09.2011 (Unaudited) |
Nine-Month
Period Ended 31.12.2011 (Unaudited) |
|
1 |
Segment Revenue (Net Sales) |
|
|
|
|
|
- Generation |
155723.800 |
156559.900 |
457197.300 |
|
|
- Others |
346.200 |
431.900 |
1139.700 |
|
|
- Total |
156070.00 |
156991.800 |
458337.000 |
|
2 |
Segment Results (Profit before Tax and Interest) |
|
|
|
|
|
- Generation |
26056.800 |
31340.000 |
85032.400 |
|
|
- Others |
(323.100) |
129.400 |
(77.200) |
|
|
- Total |
25733.700 |
31469.400 |
84955.200 |
|
|
Less: |
|
|
|
|
|
(i) Unallocated Interest and Finance Charges |
4490.500 |
4012.700 |
12246.400 |
|
|
(ii) Other Unallocable expenditure net of unallocable income |
(4385.100) |
(5131.100) |
(13978.800) |
|
|
Total Profit before Tax |
25628.300 |
32587.800 |
86687.600 |
|
3 |
Capital Employed (Segment Assets - Segment Liabilities) |
|
|
|
|
|
- Generation |
569792.500 |
522204.700 |
569792.500 |
|
|
- Others |
424.400 |
861.100 |
424.100 |
|
|
- Un-allocated |
175009.500 |
200855.700 |
175009.500 |
|
|
- Total |
745226.100 |
723921.500 |
745226.100 |
The operations of the company are mainly carried out within the country
and therefore, geographical segments are not applicable.
Notes:
1. (a) The Central
Electricity Regulatory Commission (CERC) notified the Tariff Regulations, 2009
(Regulations, 2009) in January 2009, and also notified First and Second
Amendment in May and June 2011. In line with First Amendment dated 2nd May
2011, during the year the CERC has issued provisional tariff orders w.e.f. 1st
April 2009 for all the stations except Talcher Thermal Power Station (TTPS).
Beneficiaries are billed in accordance with the said provisional tariff orders
except for TTPS where it is done on provisional basis and for National Capital
Thermal Power Station - II where it is billed on final tariff order basis. The
amount billed during the quarter and for the nine-month period ended 31st
December 2011 on this basis are Rs.156759.100 Millions and Rs.443296.700
Millions respectively (Corresponding previous quarter and nine-month
Rs.130061.200 Millions and Rs.376692.700 Millions respectively).
(b) CERC has issued
final tariff orders for some of the stations under the Regulations, 2009, which
considers the projected year-wise additional capital expenditure for the tariff
period 2009-14. Sales for these stations
has been recognised, by truing up capital expenditure to arrive at the capacity
charges. Sales for these stations has
been recognised as Rs.20456.000 Millions for the quarter and Rs.56794.900
Millions for the nine-month period ended 31st December 2011 (Corresponding
previous quarter and nine-month Rs.14171.500 Millions and Rs. 43966.200
Millions respectively). For all other stations, pending determination of
station-wise tariff by the CERC, sales have been provisionally recognized at
Rs. 138061.600 Millions for the quarter and Rs.390578.100 Millions for the
nine-month period ended 31st December 2011 respectively (Corresponding previous
quarter and nine-month Rs. 114507.000 Millions and Rs.339642.500 Millions
respectively) on the basis of principles enunciated in the said Regulations,
2009 including the Amendments thereto.
(c) Sales include (-)
Rs.1554.700 Millions for the quarter and Rs.3633.400 Millions for the
nine-month period ended 31st December 2011 respectively (Corresponding previous
quarter and nine-month Rs. 1598.000 Millions and Rs. 3803.600 Millions
respectively) pertaining to previous years recognized based on the orders
issued by the CERC/Appellate Tribunal for Electricity (APTEL).
(d) The Company
aggrieved over many of the issues as considered by the CERC in the tariff
orders for its stations for the period 2004-09 had filed appeals with the
APTEL. The APTEL disposed off the appeals favourably directing the CERC to
revise the tariff orders as per directions and methodology given.The CERC filed
appeals in the Hon’ble Supreme Court of India on some of the issues decided in
favour of the Company by the APTEL. The CERC has issued revised tariff orders
for all stations for the period 2004-09 excepting for few stations, considering
the judgment of APTEL subject to disposal of appeals pending before the Hon’ble
Supreme Court of India. Consequently, the Company is billing and recovering the
dues as per the aforesaid orders of the CERC, the impact of aforesaid issues
has been recognized as sales during the quarter and nine-month period ended
31st December, 2011 and corresponding 'Provision for Tariff Adjustment' has
been created to the extent of impact of the aforesaid issues recognised as
sales, as the appeal filed by the CERC with the Hon'ble Supreme Court is
pending disposal.
(e) Sales include (-)
Rs.4072.400 Millions for the quarter and (-) Rs. 3572.300 Millions for the
nine-month period ended 31st December 2011(Corresponding previous quarter and
nine-month Rs. 3224.300 Millions and Rs. 3727.300 Millions respectively) on
account of income tax recoverable from customers as per Regulations, 2004.
Sales also include Rs.893 Millions for the quarter and Rs. 268.000 Millions for
the nine-month period ended 31st December 2011 respectively (Corresponding
previous quarter and nine-month Rs. 287.900 Millions and Rs. 1194.500 Millions
respectively) respectively on account of deferred tax materialized which is
recoverable from customers as per Regulations, 2009.
2. Interest and
finance charges:
(a) include exchange
differences regarded as an adjustment to interest costs Rs. 356.400 Millions
for the quarter and Rs.1177.400 Millions for the nine-month period ended 31st
December 2011 respectively (Corresponding previous quarter and nine-month
Rs.351.300 Million and Rs.1122.800 Millions respectively).
(b) are lower by
Rs.Nil for the quarter and Rs.19,883 Millions for the nine-month period ended
31st December 2011 respectively on account of reversal of interest payable to
beneficiaries as per APTEL order, consequent upon the favourable judgement of
the Hon'ble Supreme Court of India, liability for which was created in earlier
years.
3. Other expenditure
include exchange differences arising from settlement/translation of foreign
currency monetary items denominated in foreign currency (other than long-term)
of Rs.70.900 Millions for the quarter and Rs.230.800 Millions for the
nine-month period ended 31st December 2011 respectively (Corresponding previous
quarter and nine-month credit of Rs.10.600 Millions and Rs.13.900 Millions respectively
considered in other income).
4. Current tax
expense include Rs. (-) 3143.400 Millions and Rs.1574.100 Millions for the
quarter and nine-month period ended 31st December 2011 respectively (Corresponding
previous quarter and nine-month Rs.2367.800 Millions) related to earlier years.
5. Consequent to the
demand made by the Ministry of Petroleum and Natural Gas to the consortium
partners towards unfinished minimum work programme cost in respect of
exploration block AA-ONN-2003/2, provision of Rs.403.800 Millions has been made
during the quarter and nine-month period ended 31st December 2011. However, the
Company has sought waiver of the above claim citing force-majeure conditions at
site leading to discontinuation of exploratory activities.
6. An amount of
Rs.7719.500 Millions (Rs. 7488.200 Millions upto 31st March 2011) has been
accounted as recoverable from GOI on account of expenditure incurred on one of
the hydro power project, construction of which has been discontinued on the
advice of Ministry of Power, GOI. Management expects that the total cost
incurred, anticipated expenditure on safety and stabilization measures, other
recurring site expenses and interest costs as well as claims of contractors/vendors
of various packages for this project will be compensated in full by the GOI.
Since, management is confident of recovery of the cost incurred, no provision
is made.
7. During the
quarter, one unit of 660 MW at Sipat project of the Company has been declared
commercial w.e.f 1st October 2011.
8. The Board of
Directors has recommended interim dividend of Rs. Rs.3.50 per share (face value
Rs.10/-each) for the financial year 2011-12 in their meeting held on 27th
January 2012.
9. Information on investors
complaints pursuant to clause 41 of Listing Agreements for the quarter ended 31st
December 2011:
|
|
Opening Balance |
Additions |
Disposals |
Closing Balance |
|
No. of complaints |
3 |
1226 |
1227 |
2 |
10. The above results
have been reviewed by the Audit Committee of the Board of Directors and
approved by the Board of Directors in their meetings held on 27th January 2012.
11.
The above results have been reviewed by the Statutory Auditors as required
under Clause 41 of the Listing Agreements.
12.
Figures for the previous period have been regrouped/rearranged wherever
necessary
FIXED ASSETS
Ř
Land: (Including development)
Ř
Ř
Ř
Roads, Bridges, Culverts and Helipads
Ř
Building
Ř
Main plant
Ř
Temporary Erection
Ř
Water Supply Drainage and Sewerage
Ř
MGR Track and Signalling System
Ř
Railway Siding
Ř
Earth Dam Reservoir
Ř
Plant and Machinery
Ř
Furniture, Fixtures and Other Office
Equipment
Ř
EDP,WP Machines
Ř
SATCOM Equipment
Ř
Vehicles including Speedboats
Ř
Construction Equipment
Ř
Electrical Installations
Ř
Communication Equipments
Ř
Hospital Equipments
Ř
Laboratory and Workshop Equipments
Ř
Leased assets - Vehicles
Ř
Intangible Assets – Software
Ř
Right of use – Land
Ř
Right of use – Others
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.99 |
|
|
1 |
Rs.83.53 |
|
Euro |
1 |
Rs.68.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
66 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.