|
Report Date : |
20.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
NUCLEAR POWER CORPORATION OF INDIA LIMITED |
|
|
|
|
Registered
Office : |
16th Floor, Centre - 1, World Trade Centre, Cuffe Parade,
Colaba, Mumbai - 400005, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
03.09.1987 |
|
|
|
|
Com. Reg. No.: |
11-149458 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 101743.327 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40104MH1987GOI149458 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN09769E / PNEN03855F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN3164F / AAACM3154F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Generation of Power. |
|
|
|
|
No. of Employees
: |
11662 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (81) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 1020000000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a Government Organization. It is a well established and reputed company having a fine track record.
Financial position of the company appears to be sound. Fundamentally the
company is strong. The company receives good operational and financial
support from the Government. Trade relations are fair. Business is active. Payments are reported to
be regular and as per commitments. The company can be good for normal business dealings at usual trade
terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : AAA |
|
Rating Explanation |
Highest degree of safety it carry lowest credit
risk. |
|
Date |
January 4, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
MANAGEMENT NON CO-OPERATIVE (91-22-25993000)
LOCATIONS
|
Registered Office : |
16th Floor, Centre - 1, World Trade Centre, Cuffe Parade,
Colaba, Mumbai - 400005, Maharashtra,
India |
|
Tel. No.: |
91-22-22182171/ 22182177 |
|
Fax No.: |
91-22-22180109 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Nabhikiya Urja Bhavan, Anushakti Nagar, Mumbai - 400094, Maharashtra,
India |
|
Tel. No.: |
91-22-25993000/ 25991000 |
|
Fax No.: |
91-22-25994020/ 25563350 |
|
|
|
|
Power Station / Power Projects : |
Located at: Ø Thane Ø Rajasthan Ø Kancheepuram Ø Uttar Pradesh Ø Gujarat Ø Tamilnadu Ø Karwar |
|
|
|
|
Offices Outside Mumbai : |
Located at: Ø New Delhi Ø Chennai Ø Hyderabad |
|
|
|
|
Quality Surveillance / Assurance Offices : |
Located at: Ø Baroda Ø Bangalore Ø Haridwar Ø Hyderabad Ø Bhopal Ø Chennai Ø Gujarat Ø Uttar Pradesh Ø Tiruchirapally Ø Walchandnagar Ø Kolkata Ø Pune |
|
|
|
|
Overseas Offices : |
Located at: Ø Moscow Ø St. Petersburg Ø Austria Ø
Tokyo Ø France |
DIRECTORS
AS ON 13.08.2012
|
Name : |
Mr. Kailash Chandra Purohit |
|
Designation : |
Managing director |
|
Address : |
62, Sreeniketan, Anushakti Nagar, Mumbai - 400094, Maharashtra, India |
|
Date of Birth/Age : |
10.05.1954 |
|
Date of Appointment : |
27.11.2009 |
|
DIN No.: |
02903715 |
|
|
|
|
Name : |
Mr. Shiv Abhilash Bhardwaj |
|
Designation : |
Whole-time director |
|
Address : |
C-602, Balaji Towers, Plot No. 8, Sector-22, Nerul, Navi Mumbai -
400706, Maharashtra, India |
|
Date of Birth/Age : |
04.01.1949 |
|
Date of Appointment : |
03.02.2005 |
|
DIN No.: |
00044553 |
|
|
|
|
Name : |
Mr. Rakesh Nath |
|
Designation : |
Director |
|
Address : |
D-II/ 93, Kaka Nagar, New Delhi - 110003, India |
|
Date of Birth/Age : |
21.05.1950 |
|
Date of Appointment : |
26.04.2011 |
|
DIN No.: |
00045986 |
|
|
|
|
Name : |
Mr. Nageswara Rao Guntur |
|
Designation : |
Director |
|
Address : |
8-A, Zerlina Little Gibbs Road, Malabar Hills, Mumbai - 400006,
Maharashtra, India |
|
Date of Birth/Age : |
01.01.1953 |
|
Date of Appointment : |
06.08.2007 |
|
DIN No.: |
01733801 |
|
|
|
|
Name : |
Mr. Sadasivam Raman Vindlachervu |
|
Designation : |
Nominee director |
|
Address : |
1-B, Zerlina Little Gibbs Road, Malabar Hills, Mumbai - 400006,
Maharashtra, India |
|
Date of Birth/Age : |
24.12.1953 |
|
Date of Appointment : |
18.07.2007 |
|
DIN No.: |
01734028 |
|
|
|
|
Name : |
Mr. Apurwa Prakash Joshi |
|
Designation : |
Director |
|
Address : |
9-B, Zerlina Little Gibbs Road, Malabar Hills, Mumbai - 400006,
Maharashtra, India |
|
Date of Birth/Age : |
09.09.1953 |
|
Date of Appointment : |
11.12.2008 |
|
DIN No.: |
Director |
|
|
|
|
Name : |
Mr. Shirish Balkrishna Agarkar |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. A/202, 2nd Floor, Rutu Park, Near Brindaban Bus
Stand, Thane - 400601, Maharashtra, India |
|
Date of Birth/Age : |
23.03.1952 |
|
Date of Appointment : |
27.11.2009 |
|
DIN No.: |
02904800 |
|
|
|
|
Name : |
Mrs. Nalini Bhat |
|
Designation : |
Director |
|
Address : |
D-1, Flat No. 1420, Vasant Kunj, New Delhi - 110070, India |
|
Date of Birth/Age : |
16.04.1951 |
|
Date of Appointment : |
15.07.2010 |
|
DIN No.: |
03209133 |
|
|
|
|
Name : |
Mr. Arvinder Singh Bakshi |
|
Designation : |
Director |
|
Address : |
WZ – 13A, Sant Pura, Bindra Market Tilak Magar, New Delhi – 110018,
India |
|
Date of Birth/Age : |
24.07.1953 |
|
Date of Appointment : |
29.02.2012 |
|
DIN No.: |
05175439 |
|
|
|
|
Name : |
Mr. Preman Dinaraj |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. 2-B, Zerlina Smt Khadija Shafti Tyabji Marg 1, Malabhar Hills,
Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
18.07.1957 |
|
Date of Appointment : |
10.01.2012 |
|
DIN No.: |
05190963 |
|
|
|
|
Name : |
Mr. Hemant Govindbhai Contractor |
|
Designation : |
Director |
|
Address : |
D-8, Kinellan Towers, 100-A, Nepeansea Road, Malabar Hills, Mumbai –
400006, Maharashtra, India |
|
Date of Birth/Age : |
22.04.1954 |
|
Date of Appointment : |
26.09.2011 |
|
DIN No.: |
03455526 |
KEY EXECUTIVES
|
Name : |
Mr. Srikar Radhakrishna Pai |
|
Designation : |
Secretary |
|
Address : |
D-8, Ajanta, Anushakti Nagar, Mumbai - 400094, Maharashtra, India |
|
Date of Birth/Age : |
19.03.1961 |
|
Date of Appointment : |
08.03.2007 |
|
PAN No.: |
AEAPP2451G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 13.08.2012
|
Names of Shareholders |
No. of Shares |
|
President of India |
101743311 |
|
Ratan Sinha |
10 |
|
Kailash Chandra Purohit |
1 |
|
Preman Dinaraj |
1 |
|
Apurwa Prakash Joshi |
1 |
|
Sadasivam R Vindlachervu |
1 |
|
Arun Srivastava |
1 |
|
Niranjan Kumar |
1 |
|
|
|
|
Total |
101743327 |
AS ON 13.08.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Government [Central and State] |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Generation of Power. |
PRODUCTION STATUS (AS ON 31.03.2012)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Nuclear Energy |
MW |
Not Applicable |
4680 |
|
Wind Energy |
MW |
Not Applicable |
10 |
GENERAL INFORMATION
|
No. of Employees : |
11662 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
Ø State Bank of India,
Overseas Branch, World Trade Centre, Cuffe Parade, Colaba, Mumbai - 400005,
Maharashtra, India Ø Dena Bank Ø Bank of India Ø Bank of
Maharashtra Ø Canara Bank Ø Bank of Baroda |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kalani and Company Chartered Accountants |
|
Address : |
B-145-B, Kalyan Path, Mangal Marg, Bapu Nagar, Jaipur – 302015,
Rajasthan, India |
|
Tel. No.: |
91-141-2709001-3/ 2701001-2 |
|
Fax No.: |
91-141-2703507 |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFK0738Q |
|
|
|
|
Joint Venture Company : |
L and T Special Steels and Heavy Forgings Private Limited |
|
|
|
|
Subsidiaries : |
Ø Anushakti Vidhyut
Nigam Limited [U40300MH2011GOI212727] Ø NPCIL -
Indianoil Nuclear Energy Corporation Limited [U40104MH2011GOI215870] Ø NPCIL-Nalco
Power Company Limited [U40300MH2012GOI227632] |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150,000,000 |
Equity Shares |
Rs. 1000/- each |
Rs. 150000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
101,743,327 |
Equity Shares |
Rs. 1000/- each |
Rs.
101743.327 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
101743.327 |
101453.327 |
101453.327 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
152537.329 |
138392.637 |
128406.260 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
254280.656 |
239845.964 |
229859.587 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
85046.200 |
104046.200 |
91872.000 |
|
|
2] Unsecured Loans |
59492.687 |
48595.486 |
62747.017 |
|
|
TOTAL BORROWING |
144538.887 |
152641.686 |
154619.017 |
|
|
DEFERRED TAX LIABILITIES |
157.131 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
398976.674 |
392487.650 |
384478.604 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
127914.624 |
136585.499 |
124269.505 |
|
|
Capital work-in-progress |
175960.922 |
149031.954 |
161124.365 |
|
|
|
|
|
|
|
|
INVESTMENT |
23916.672 |
22896.090 |
24127.781 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
HEAVY WATER LEASE CHARGES RECOVERABLE |
0.000 |
0.000 |
4120.994 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4522.228
|
3926.241 |
3887.710
|
|
|
Sundry Debtors |
22352.445
|
11444.371 |
5034.896
|
|
|
Cash & Bank Balances |
51605.501
|
100695.844 |
72107.220
|
|
|
Other Current Assets |
10826.217
|
11095.224 |
6413.783
|
|
|
Loans & Advances |
19169.857
|
12512.406 |
5884.537
|
|
Total
Current Assets |
108476.248
|
139674.086 |
93328.146 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3751.414
|
1747.256 |
2852.240
|
|
|
Other Current Liabilities |
23734.804
|
45273.194 |
15242.731
|
|
|
Provisions |
9805.574
|
8679.529 |
4397.216
|
|
Total
Current Liabilities |
37291.792
|
55699.979 |
22492.187 |
|
|
Net Current Assets |
71184.456
|
83974.107 |
70835.959
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
398976.674 |
392487.650 |
384478.604 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operation |
79138.072 |
60125.316 |
38068.176 |
|
|
|
Other Income |
7950.989 |
8739.269 |
6725.297 |
|
|
|
TOTAL |
87089.061 |
68864.585 |
44793.473 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Fuel and Heavy Water |
28788.550 |
22910.940 |
14176.709 |
|
|
|
Operation and Maintenance Expenses |
6143.458 |
3903.011 |
3068.569 |
|
|
|
Employee Benefit Expenses |
9154.844 |
7628.930 |
6618.299 |
|
|
|
Administrative and Other Expenses |
2719.723 |
2258.856 |
2427.075 |
|
|
|
TOTAL |
46806.575 |
36701.737 |
26290.652 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
40282.486 |
32162.848 |
18502.821 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
6724.056 |
6614.603 |
4410.303 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
33558.430 |
25548.245 |
14092.518 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
9614.781 |
8676.518 |
7210.760 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
ADJUSTMENTS |
127.143 |
11.070 |
2141.185 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
23816.506 |
16860.657 |
4740.573 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4754.963 |
3097.400 |
576.440 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
19061.543 |
13763.257 |
4164.133 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
15164.155 |
11215.673 |
9806.465 |
|
|
|
|
|
|
|
|
|
Add |
TRANSFER OF
EXCESS PROVISION OF DIVIDEND TAX |
10.155 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
10000.000 |
5000.000 |
1000.000 |
|
|
|
Dividend |
2918.500 |
2629.000 |
0.000 |
|
|
|
Tax on Dividend |
473.454 |
436.644 |
0.000 |
|
|
|
Interim Dividend |
2800.000 |
1500.000 |
1500.000 |
|
|
|
Tax on Interim Dividend |
454.230 |
249.131 |
254.925 |
|
|
BALANCE CARRIED
TO THE B/S |
17589.669 |
15164.155 |
11215.673 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Guest House Receipt (at KK Project) |
0.000 |
0.350 |
1.010 |
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
5116.992 |
7617.089 |
7380.664 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
187.61 |
135.66 |
41.04 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
21.89
|
19.99 |
9.30
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
30.09
|
28.04 |
12.45
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.08
|
6.10 |
2.18
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.07 |
0.02
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.57
|
0.64 |
0.67
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.91
|
2.51 |
4.15
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Amount due to Micro, Small and Medium Enterprises |
12.810 |
6.877 |
10.108 |
|
Payable to Others |
3738.604 |
1740.379 |
2842.132 |
|
Total |
3751.414 |
1747.256 |
2852.240 |
|
Sr. No. |
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 |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
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) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
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 |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
From Department
of Atomic Energy-GOI |
(Rs. In Millions) |
|
|
Russian Credit-Loan KK Project |
50474.937 |
48305.486 |
|
Interest Free Loan-KK Project |
0.000 |
290.000 |
|
Foreign Currency Loan-External Commercial Borrowing from State bank of
India, Singapore Branch |
9017.750 |
0.000 |
|
Total |
59492.687 |
48595.486 |
PERFORMANCE HIGHLIGHTS
The Company has achieved
higher average capacity factor of about 79% as against 71% for the previous
year. The use of imported fuel for reactors under safeguards and improved
domestic fuel availability for reactors fuelled by domestic uranium resulted in
higher capacity utilization. The year
recorded the highest nuclear power generation since the inception of the
Company. Electricity generation, as per the billing cycle, in 2011-12 has been
32451 Million kWh (MUs) as against 26469 MUs in 2010-11 showing an increase of
23%.
The Department of
Atomic Energy (DAE) had issued revised tariff norms for determining tariff for
sale of electricity by Atomic Power Stations vide notification dated 8th
December 2010. The tariffs, based on revised norms, which are inclusive of recovery
of tax are effective from 1st July 2010 for all atomic power stations and are
to remain effective for 5 years. The revised tariffs, as per new tariff norms,
have been notified by the DAE during the FY 2011-12 except for TAPS
Unit-1&2. Accordingly, the impact of the said notification has been
accounted for during the year. The revenue from operation includes Rs. 1400.000
Millions, the net impact of revised tariff for the year 2010-11.
The revenue from
sale of power generated from wind farm with an installed capacity of 10 MW at
Kudankulam during the year was Rs. 52.600 Millions as against Rs. 64.200
Millions for the previous year. The provision for taxation during the year was
Rs.4760.000 Millions as compared to Rs. 3100.000 Millions last year. The increase
was on account of hike in book profit before tax to Rs.23820.000 Millions as
against Rs.16860.000 Millions in the previous year. Presently, the Company is
being subjected to Minimum Alternate Tax @ 20.01% including surcharge and cess
on tax after availing tax holiday benefits available under provisions of the
Income Tax Act, 1961.
The amount
received towards interest on Research and Development Fund, Renovation and
Modernization Fund and Decommissioning levy with interest thereon has not been
considered as income of the Company. These funds are held by NPCIL on behalf of
the DAE and the Decommissioning levy is collected from beneficiaries based on a
statutory notification issued by the DAE. The Income Tax Tribunal has decided
that the interest earned on these funds be treated as income of the Company.
While an appeal has been filed in the Honorable High Court of Maharashtra,
Mumbai, the Company has appropriated Rs.430.000 Millions from these funds
towards the income tax, if finally, payable on these levies.
The Company has
been able to regulate its operational efficiency and has been able to achieve a
net profit of Rs.19060.000 Millions after tax. The accumulated deferred tax
liability as on 31st March 2012 was Rs.12910.000 Millions on account of timing
differences between book and tax profits. Out of the deferred tax liability of
Rs.12910.000 Millions, Rs.12750.000 Millions is recoverable from the
beneficiaries on account of income from generation of power, since the income
tax payable on income from generation of power is recoverable from
beneficiaries up to 30th June 2010. The amount of Rs.12750.000 Millions of
deferred tax is recoverable on becoming a part of the current tax. Therefore,
such deferred tax is considered as recoverable and netted from such deferred
tax liability / expense.
OPERATING
PERFORMANCE OF THE STATIONS
The performance of
all operating units was satisfactory during the year 2011-12 and these
generated 32455 MUs of electricity, recording the highest ever generation in a
financial year, crossing the MOU target. The overall Capacity Factor was 79%
and the weighted average Availability Factor was 91%. In addition, Kudankulam
Wind Farm generation during the year was 18 MUs.
ONGOING PROJECTS
KUDANKULAM NUCLEAR
POWER PROJECT-1&2 (2X1000 MW VVERS)
The Kudankulam
project, located in Tirunelveli District of Tamilnadu, is being implemented
with Technical co-operation from Russian Federation within the framework of the
Inter-Governmental Agreement signed between USSR and India. The power generated
from the project (2x1000 MWe) shall be fed to Tamilnadu and other beneficiary
states in the southern grid. The construction of Kudankulam Project commenced
on 31st March 2002 with the first pour of concrete, after receipt of the
financial sanction in November 2001. The project has recorded a cumulative
progress of 97% as of March, 2012 (Unit-1: 99% and Unit-2: 95%) with cumulative
expenditure of Rs.147140.000 Millions. On supplies front, Unit-1 supplies have
been completed and Unit-2 balance supplies are expected to be completed by
third quarter of the year 2012.
The Unit-1 of the
project has entered into the final commissioning phase. The project has
achieved significant milestones during the year 2011-12. After receipt of
clearance from Atomic Energy Regulatory Board (AERB), Hot Run, continuous
operation for 200 hrs of primary coolant system including tests like Reactor
Coolant Pumps (RCPs) hot and cold combination tests, Control Protection System
Absorber Rods (CPSAR) tests were completed at nominal parameters (pressure
15.7MPa and temperature 2800C).
Operability of
safety system equipments from Shielded Control Room has been checked.
Performance tests of safety system of all the four trains were carried out.
Subsequent to
completion of hot run, inspection of primary coolant system equipment and
piping was commenced and is in progress.
In Unit-2
construction activities are at advanced stage of completion with all civil
works, Reactor equipment erection, Turbo-generator boxing up, Ventilation
system erection, seawater system erection and common service system erection
completed and balance piping of Nuclear Steam Supply System and secondary side
are in advanced stage of completion.
For electrical system
all the equipment erection has been completed and more than 45% Cabling works
has been completed. For I&C systems, all the received panels have been
erected and cable laying and termination work is in progress.
Commissioning
activities of Unit-2 commenced with the successful charging of Reserve
Auxiliary Transformer and other downstream HT and LT buses on priority basis.
Commissioning of
fire water system, chilled water system in Reactor Building and Reactor
Auxiliary Building, essential load cooling pump (1 train) has been completed.
Sea water system commissioning, D.G system commission, valve commissioning,
reactor auxiliary system and ventilation system commissioning is in progress.
During the period
13th October 2011 to 19th March 2012, there was a local agitation in the
villages around KKNPP. Due to this agitation, though the progress of work at
KKNPP slowed down, the manpower required to carry out the essential activities
throughout this period was maintained, including surveillance of all the equipment,
preventive maintenance works and essential commissioning activities related to
regulatory clearances. The documentation works like commissioning reports,
construction completion certificates, DCNs, etc. were carried out in full
swing.
Due to agitation,
the erection and commissioning activities of balance work of Units-1&2 got
delayed. However, all the other activities viz. detailed design of the project,
manufacturing and supply of equipment / components / materials, stage-wise
consent from AERB and maintenance/preservation of the equipment and associated
systems continued satisfactorily.
For this, a
full-fledged office was established in KKNPP Township wherein activities such
as the preparation and supply of design work by Russian specialists and their
review by NPCIL officers for implementation, receipt of equipment and material
from Russian Federation etc. continued. In fact, a temporary storage facility
in KKNPP Township was also established where about 41 containers containing
these supplies were temporarily stored. The interaction with AERB at KKNPP
office in the Township for their consent regarding preparation of documents and
supply of relevant information to AERB continued with due support of
Headquarters. Regulatory inspection by AERB and IAEA safeguard inspection were
also carried out during the period of agitation.
Various systems
which were to be commissioned were kept continuously operating to preserve the
health and chemistry of the relevant systems.
The total revised
completion cost of the project is estimated at Rs.172700.000 Millions from
Rs.15824 Millions indicating an increase of Rs.14460.000 Millions. Unit-1&2
are expected to commence operations in the year 2012 and 2013.
NEW PROJECTS UNDER
CONSTRUCTION
KAKRAPAR ATOMIC
POWER PROJECT-3&4 (KAPP-3&4)
The construction
activities of KAPP 3&4 the first twin reactor of 700 MW series being
launched by NPCIL, commenced by laying the First Pour of Concrete on 22nd
November 2010. As of now around 43% of total expected main plant concrete
quantity has been poured.
Presently, works
are being executed simultaneously for all main plant buildings. First time in
Indian PHWR concreting of Inner Containment wall with Carbon Steel Liner has
been taken up after elaborate mockup exercise was done at site. This is a big
achievement as the entire system has been successfully developed indigenously.
In addition to Main Plant Civil Contract, the works for other similar contracts
have also commenced. This includes Balance of Turbine Island (BOTI), Plant
Water Package and construction of Induced Draft Cooling Tower (IDCT). PCC for
Turbine Building-3 has started after completion of excavation. Civil works for
all Buildings/structures up to
El.100 M under
Plant Water Package are nearing completion. IDCT excavation work to the extent
of approx. 50% has been completed.
The project is
progressing well ahead of schedule. KAPP-3&4 are slated for completion in
the year 2016.
RAJASTHAN ATOMIC
POWER PROJECT-7&8 (RAPP-7&8)
After completion of
excavation and the regulatory clearances, First Pour of Concrete in Nuclear
Building NB-7 was carried out on 18th July 2011. First Pour of Concrete in NB-8
was achieved on 30th September 11. Completion of one of the concrete pours
(Pour-2) on 3rd November 2011 marked the biggest pour of size 5757CuM having
been carried out in the history of Nuclear sector in India.
Raft concreting in
Nuclear Buildings is in progress. Works are being executed simultaneously for
all main plant buildings.
RAPP-7&8 has
completed 556 reportable accident free days. The project is slated for
completion towards end 2016.
KUDANKULAM NUCLEAR
POWER PROJECT-3&4 (KKNPP-3&4)
The Kudankulam
project unit-3&4 is expansion of unit-1&2, located in Tirunelveli
district of Tamilnadu, is being implemented with co-operation from Russian
Federation (RF) within the framework of the Inter-Governmental Agreement signed
between RF and India.
Environmental
Impact Assessment studies for Kudankulam expansion units have been carried out
by National Environmental Engineering Research Institute (NEERI), Nagpur.
Based on the
report, public hearing has been successfully completed by the Tamilnadu
Pollution Control Board.
Environmental
clearance was obtained from the Ministry of Environment and Forest (MoEF) as
per the provisions of Environmental Impact Assessment (EIA) Notification 2006.
The process for Coastal Regulation Zone clearance from MoEF is in progress.
Siting consent was received from AERB and excavation consent submitted to AERB.
Techno Commercial
Offer was received from Atomstroyexport, Russian Federation. The division of
responsibility and various terms and conditions of the contract are in the
advanced stage of finalization. The General Framework Agreement is by the
sides.
A contract for the
first priority design works for initial design activities has been signed with
Atomstroyexport and the work is in progress. The layout has been finalized and
seawater intake and outfall scheme is in advanced stage of finalization. The
preliminary activities for finalization of Design and Technical specification
for the Indian scope of works have been initiated.
The pre-project
activities like Geo-technical investigation work in Onshore and Offshore areas,
thermal dispersion studies (2-D modeling) of KKNPP expansion programme, Coastal
Regulation Zone mapping of KKNPP coastline, Study on the impact of cooling
water discharge on marine environment, Comprehensive main plant survey work etc
has been completed. The work for bathymetric survey of larger off-shore area is
also completed.
Work on Phase-1
Plant site and Township Infrastructure like Property fencing, Security fencing,
Development of master plan for township and plant site has been completed.
Construction of Quality assurance building and canteen building started on
infrastructure front.
Engineering
service contract is awarded for basic design and finalization of technical
specification of system and equipments in the Indian scope of responsibility
and the work is under progress.
Recently, India has
signed Protocol with Russian Federation on 17th July 2012 in Moscow for
financing the KKNPP Unit-3&4.
As per the
protocol, the Russian Federation will extend credit amounting upto US$ 3400
million for financing 85% value of works, supplies and services provided by the
Russian organizations for construction of KKNPP Units 3&4. The Protocol
also has provisions for a State export credit amounting to US$ 800 million for
financing upto 85% nuclear fuel and control assemblies. The credit carries
interest at 4% p.a. The project credit is payable in 14 years and repayment
commencing one year after commissioning of the project whereas fuel credit
would be payable in 4 years and repayment commences after 2 years of receipt.
JAITAPUR NUCLEAR
POWER PROJECT (JNPP)
The Jaitapur
Nuclear Power Project (JNPP) is proposed to be set up in technical
collaboration with AREVA, France. Two units are planned in the first phase and
the project will have finally six units of 1,650 MW. Government of India
accorded the ‘in-principle’ approval for the site and land is in NPCIL
possession. All the safety guidelines of International Atomic Energy Agency and
Atomic Energy Regulatory Board are strictly adhered to. The land acquired in
Jaitapur is predominantly barren and several geographical and environmental
assessments are carried out to ensure the safety of ecology and local
population. The Environmental and Costal Regulation Zone clearance have been
accorded by Ministry of Environment and Forest (MoEF), Government of India in
2010. The Project will augment electricity generation of 36-39 MU/day from each
unit of 1650 MW.
Revised
Techno-Commercial Offer submitted by AREVA is under negotiation. The scope of
Early Works Agreement (EWA) signed between NPCIL AREVA on December 6, 2010 is
under revision to the lessons learned from Fukushima incident.
Various
pre-project activities like geo-technical investigation, boundary wall
construction, consultancy contracts, etc., are in progress at sites of Main
Plant and residential complex.
Several public
awareness activities on the various aspects of Nuclear Power and the project
were undertaken to dispel misconceptions among the people from surrounding
villages of the project, local and national press and media and the various
activist groups. An information centre has been set up at Ratnagiri to
disseminate information regarding Nuclear Power including JNPP.
PROJECTS AT NEW
SITES
In 2009, the
Government of India has given In-principle approval for full potential of Sites
at Kudankulam and Jaitapur and also for five new sites; two for indigenous
PHWRs and three for LWRs based on foreign co-operation.
Jaitapur and five
sites located in Haryana, Madhya Pradesh, Gujarat, Andhra Pradesh and West
Bengal as mentioned above are greenfield sites. In July 2011, the Government of
India, accorded ‘in-principle’ approval for three more inland sites for setting
up 700 MW PHWRs – Mahi Banswara (4x700 MW) in Rajasthan, Bhimpur (4x700 MW) in
Madhya Pradesh and Kaiga expansion (2x700 MW) in Karnataka. The pre-project
activities at new sites are in progress. These include opening of the NPCIL
offices in nearby towns, Environment Impact Assessment for MoEF clearance,
design input for regulatory clearance, steps for obtaining siting consent from
the regulator, public awareness programmes and actions for land acquisition to
prepare the sites ready for project construction within shortest time. The land
acquisition applications for issuance of Section 4 notification under Land
Acquisition Act, 1894 have been already submitted to the respective District
Authorities, Gujarat, Madhya Pradesh and Andhra Pradesh. In the case of
Haryana, an amount of Rs.4600.000 Millions was paid on 23rd June
2012 to the Land Acquisition Collector, Fatehbad.
Public Hearing was
organized by Haryana State Pollution Control Board (HSPCB), Hisar Region on
17th July 2012. The award under Section-11(1) of Land Acquisition Act, 1894 was
declared on 18th July 2012 and disbursement of land compensation has started.
In respect of new
sites at Mahi Banswara and Bhimpur, pre-project activities like seismotectonic
studies, flood studies, meteorological data, geotechnical investigation, land
acquisition processes, etc. are also at various stages of progress. Preliminary
discussions with foreign vendors for setting up 1000-MW or larger-capacity LWRs
based on international cooperation at Kovvada in Andhra Pradesh and Chhaya
Mithi Virdi in Gujarat are in progress.
MANAGEMENT DISCUSSION AND ANALYSIS
ECONOMIC
ENVIRONMENT
For the Indian economy,
GDP growth in FY 2011-12 is estimated at 6.9% against 8.4% in FY 2010-11.
Notwithstanding this, by any cross-country comparison, India remains among the
front-runners. During FY 2011-12, agriculture and services continued to perform
well but industrial production particularly in manufacturing sector slowed
perceptibly.
INDUSTRY OVERVIEW
Electric power is
part of the basic infrastructure required for the economy’s sustained growth.
The Indian power sector has registered significant progress since the process
of planned development of the economy began in 1950. Over the years, during
1950 till March 2012, the installed capacity of power utilities has increased
from a meager 1713 MW to 1,99,877 MW, the electricity generation increased from
about 5.1 billion kWh to 877 billion kWh, about 170 times. The per capita
annual consumption of electricity in the country also increased to about 55
times, from 15 kWh in 1950 to about 813 kWh in 2010-11.
India’s overall
electricity generation registered a growth rate of 8% in the year 2011-12. The
electricity generation from nuclear power grew at a much higher rate by 23% and
contributed about 3.7% in total generation in the country in 2011-12 against
3.2% in 2010-11.
The electricity
supply is, however, insufficient to meet the demand. The country’s energy and
peak shortages were about 8.5% and 11% respectively during the year 2011-12.
The per capita consumption of electricity continues to be very low, at about
one third of the world average.
There is a need
for large capacity addition to meet the growing demand, to ensure lifeline
energy needs of all citizens and also provide adequate energy to sustain growth
to meet the development objectives.
The Integrated
Energy Policy (2006) of India has projected augmentation of installed capacity
to about 800 GW by the year 2032 for a growth rate of 8%. This is projected to
be reached by deploying all sources of energy, including nuclear. Of the 800
GW, the projected contribution of nuclear power is 63000 MW.
NUCLEAR POWER A
PREFERRED OPTION FOR INDIA
Theoretically,
Nuclear energy offers India the most potent means to long term energy security.
India has to succeed in realizing the three-stage development process and
thereby tap its vast thorium resource to become truly energy independent beyond
2050. To utilize uranium and large thorium reserves in the country for
electricity generation, India’s nuclear power programme was envisaged as a
three-stage programme with a closed fuel cycle. The three stages of the
programme are:
Ø Natural uranium
fuelled Pressurised Heavy Water Reactors (PHWRs) in the first stage.
Ø Fast Breeder
Reactors (FBRs) utilizing plutonium based fuel extracted from the spent fuel of
the first stage, and
Ø Advanced nuclear
power systems for utilization of thorium.
Continuing support
to the three-stage development of India’s nuclear potential is essential.
Light Water
Reactors with international cooperation are planned as additionalities to the
programme for faster capacity addition to meet the growing demand of
electricity. NPCIL has already taken up development of design of a light water
reactor and so will be able to set up more light water reactors in future of
indigenous origin and indigenous design.
Seeing the climate
change concerns, it is desired to move towards a low carbon energy growth path
which is the growth path that not only the diminished fossil fuel resources
demand but also the climate concerns. In this context, the concerns about
global warming and carbon emissions or greenhouse gas emissions have made
nuclear power even that much more important for India than it was ever before.
India is highly
vulnerable to effects of climate change and has a strong interest in efforts
aimed at minimizing climate change risks. Although India contributes only
one-fourth of greenhouse gas emissions of global average in per capita terms,
it has pro-actively instituted several measures in this direction and has
defined self imposed target to reduce the emissions intensity.
Electricity
generation contributes about 38% of total GHG emissions and 51% of CO2
emissions in the country. Thus, reducing the emission intensity of the
electricity generation is of prime importance. Nuclear power, which is clean
and has life cycle emissions comparable to renewables like wind and hydro
power, is an important low carbon electricity generating technology.
PUBLIC CONCERNS
ABOUT SAFETY – POST FUKUSHIMA
Following the
recent incident at Fukushima-Daiichi nuclear power plant in Japan following the
massive earthquake ensuing tsunami, there are concerns in the public about
safety of nuclear power plants. In order to accelerate the nuclear power
programme, it is vital to reassure the public about safety of nuclear power
plants and address other concerns like waste management, fears about radiation
and economics of nuclear power. In this direction, enhanced public
communication and outreach activities are planned.
A massive public
outreach programme was launched to allay the apprehensions of the people about
safety of nuclear power plants in a structured manner, by adopting a
multipronged approach in and around of nuclear power plant sites. The campaigns
have also been extended to other parts of the country. To supplement the scaled-up
outreach activities, NPCIL has entered into partnership with several special
agencies like Vigyan Prasar of the Department of Science and Technology, DAVP,
UFO Movies, etc.
Safety reviews of
the reactors in operation and under construction were undertaken by NPCIL task
forces, which found that they were safe and had margins and features in designs
to withstand extreme natural events. An expert committee of the Atomic Energy
Regulatory Board (AERB), which reviewed the safety of nuclear power reactors in
the country, also reached similar conclusion. The committees also made
recommendations to take the safety to a much higher level, which are being
implemented. The Government has decided to invite IAEA missions, namely,
Operational Safety Review Team (OSART) and Integrated Regulatory Review Service
(IRRS), for peer review of safety of nuclear power plants and of the regulatory
system, respectively.
A review of
emergency preparedness plans, in association with the National Disaster
Management Authority (NDMA) was carried out. Mock drills were carried out at
all sites and the plans validated and improved. Measures to strengthen the
monitoring of radioactivity and response to incidents involving radioactivity
at other locations across the country (all police stations) were discussed and
plans to implement the same finalized.
INDIAN NUCLEAR
SECTOR
India embarked
upon an indigenous three-stage nuclear power programme in the fifties, aimed at
optimum utilization of the country’s nuclear resources to provide long-term
energy security. Comprehensive capabilities in respect of indigenous reactor
technologies and associated fuel cycle have been developed in the country. The
facilities for the front-end and back-end fuel cycle, special materials like
zirconium and heavy water have been set up by the Department of Atomic energy
(DAE). These are in successful operation. Considerable efforts were put in to
develop the Indian industries to meet the exacting standards for manufacturing
of nuclear components and equipment. Today, Indian industries have the capacity
and capability to supply components, equipment and execute works for the
indigenous nuclear power programme.
In view of
expanding nuclear power programme, including imported nuclear power reactors of
higher unit sizes, industrial manufacturing capability and capacity need to be
significantly enhanced. Towards this, steps of forming various Joint Ventures
have been taken up.
COMPANY OVERVIEW
ROLE OF NPCIL
In India, nuclear
power generation commenced as a government activity and it entered the
commercial domain in 1987 with the formation of the Nuclear Power Corporation
of India Limited, a public sector enterprise under the aegis of Department of
Atomic Energy, Government of India.
NPCIL has attained
maturity in the first stage of nuclear power programme. Today, NPCIL is unique
in having comprehensive capacity in the various facets of nuclear technology
viz. site selection, design, construction, commissioning, operation and
maintenance and life extension of nuclear power plants.
GENERATION
PERFORMANCE
Starting with six
reactors in 1987, NPCIL now has a fleet of 20 reactors in operation. NPCIL owns
and operates 19 nuclear power reactors, in addition to operating Rajasthan
Atomic Power Station Unit-100 MW PHWR) owned by the DAE. The Company has to its
credit more than 355 reactor years of safe operation of nuclear power plants. A
very high availability factor, the hallmark of operational efficiency of a
nuclear power plant, sets apart the nuclear power reactors of NPCIL. In the
year 2011-12, NPCIL reactors achieved a weighted average availability factor of
91%.
NPCIL recorded
significantly improved generation performance during the year 2011-12. The year
recorded highest-ever nuclear power generation, registering 32455 MUs. This was
23% higher than the last year’s generation of 26472 MUs. This has been possible
mainly due to operation of reactors with imported fuel at higher capacity
factors. The overall capacity factor improved to 79% compared to 71% capacity
factor for the previous year. Also, TAPS-3 recorded a continuous run of 522
days. Nine reactors viz. KAPS-1 (372 days), RAPS-4 (394 days), RAPS-3 (404
days), KAPS-2 (406 days), MAPS-2 (432 days), KGS-1 (487 days), KGS-2 (529
days), TAPS- 2 (590 days) and TAPS-3 (522 days) have so far recorded continuous
run of more than a year.
STATUS OF ONGOING
PROJECTS
KKNPP-1and2 is at
an advanced stage of commissioning. The physical progress of Unit-1 and Unit-2
were 99% and 95% respectively as on March 2012. These units are expected to
commence operations in the year 2012 and 2013. The work on two other ongoing
projects, KAPP-3&4 and RAPP-7&8 comprising of indigenous 700 MW PHWRs
is progressing. These projects are expected to be completed by 2016 with a capacity
addition of 2800 MW.
NEW PROJECTS
In respect of
KKNPP-3&4, the site has been made ready in all respects to take up
excavation works. Siting consent from AERB and Environmental clearance from
MoEF have been received. Excavation consent is
by AERB. The CRZ clearance is awaited. Additional site infrastructure
development work is in progress.
As regards
Jaitapur Project i.e. JNPP-1&2, MoEF environmental clearance and CRZ
clearances have been received. Siting consent is under AERB review.
Geo-technical investigations are initiated. The post-Fukushima design review is
in progress. An information centre has been established at Ratnagiri for public
awareness.
The Government
accorded ‘in principle‘ approval in October 2009 for five new sites - Gorakhpur
in Haryana and Chutka in Madhya Pradesh to locate indigenous 700 MW PHWRs and
Kovvada in Andhra Pradesh, Chhaya Mithi Virdi in Gujarat and Haripur in West
Bengal to locate LWRs based on international technical cooperation. In July
2011, the Government accorded ‘in principle’ approval for three more inland
sites for setting up 700 MW PHWRs – Mahi Banswara in Rajasthan, Bhimpur in
Madhya Pradesh and Kaiga expansion in Karnataka.
Studies for Environmental
Impact Assessment for Gorakhpur, Chutka, Kovvada and Chhaya Mithi Virdi sites
are at various stages of progress. NPCIL has established local offices at these
new sites and extensive public outreach programmes have been organized for
target groups.
Pre-project
activities including seismotectonic studies, flood studies, meteorological
data, geotechnical investigation, land acquisition process and so on are at
various stages of progress. These are being initiated for new sites at Mahi
Banswara and Bhimpur.
MOU PERFORMANCE
The provisional
MoU rating for the year 2011-12 is ‘Very Good’. With availability of imported
fuel for reactors under IAEA safeguards, NPCIL surpassed the generation target
for the year 2011-12.
POWER TARIFFS
The Department of
Atomic Energy is the apex body for tariff regulation of nuclear power plants in
India. It determines the tariffs in coordination with the Central Electricity
Authority.
The effective
tariff of NPCIL stations considering the receivables pertaining to the
year was `2.58 paise/kWh (as against
`2.49 paise/kWh for 2010-11). Ensuring viable tariffs, in a manner that nuclear
power tariffs are comparable to those from other contemporary power plants of
other technologies in the area, is absolutely essential. Capital costs of
nuclear power projects are comparatively high and form the largest component of
nuclear power tariffs. The cost of indigenous PHWRs is being accordingly
optimized by variety of means including proper project management leading to
reduction in gestation period of projects, etc. The LWR projects cost are being
optimized by adopting suitable business models, increased indigenization and
adopting appropriate financing methods. The effort to reduce the tariff is an
ongoing and dynamic exercise.
OUTLOOK
Electricity is an
essential requirement for all facets of their lives. It is one of the key
drivers for rapid economic growth and poverty alleviation. Growth of power
sector in India since its independence has been noteworthy. However, the demand
for power has been outstripping the growth in its availability. Substantial
energy and peak energy shortages prevail in the country. The country faced
energy deficit of 8.5% and peak deficit of 11.1% during 2011-2012. The per
capita electricity consumption during the year 2009-10 was 813 MUs, which is
far lower compared to the countries like USA, France, China and various other
developed countries. Thus, India needs to increase its electricity production
many fold for economic growth as well as for meeting the electricity deficits.
No single energy of the country can meet the required production of
electricity. Hence, for India, utilization of all the available sources of
energy is inevitable for meeting the energy requirements. The other challenging
factors for power sector are environmental issues like greenhouse gas emissions
from burning of fossil fuel.
This, along with
country’s energy resource profile, necessitates an enhanced contribution from
nuclear power from both short-term as well as long-term perspectives. Nuclear
power in the country has already overcome the infant problems and is now poised
for its rapid expansion. Considering all the factors, Integrated Energy Policy
of
the country has
projected 63,000 MW contribution from nuclear power by the year 2032. Thus, for
NPCIL, being the flagship company along with Bharatiya Nabhikiya Vidyut Nigam
Limited for implementation of the three-stage programme, the outlook is bright
and challenging.
FIXED ASSETS:
Ø
Land building
Ø
Railway Sidings
Ø
Plant and Machinery
Ø
Furniture and Fixtures
Ø
Office Equipment
Ø
Vehicles
Ø
Software
WEBSITE DETAILS:
PRESS RELEASE
GOVERNMENT OF INDIA DEPARTMENT OF ATOMIC ENERGY PUBLIC AWARENESS
DIVISION
S.K. Malhotra Head, Public Awareness Division
November 27, 2012
PRESS RELEASE NO.: 12/2012
Dear Sir/Madam,
During the last
few days some sections of media have been reporting that Department of Atomic
Energy and its PSU Nuclear Power Corporation of India Limited will be dumping nuclear
wastes from Kundakulam Nuclear Power Plant, Tamil Nadu in Kolar Gold Field,
Karnataka. It is hereby categorically stated that the Department of Atomic
Energy or Nuclear Power Corporation of India Limited do not have any plans to
dump nuclear waste from any nuclear power plant in the Kolar Gold fields. In
fact Nuclear Power Corporation of India Limited has submitted a supplementary
affidavit today to the Hon’ble Supreme Court of India wherein it has stated
very clearly that “it is not considering the Kolar Gold Mine of BGML in
Karnataka for purposes of nuclear waste storage as is being alleged or has been
suggested by a section of media”.
Department of Atomic Energy has been
conducting studies in an underground chamber in Kolar Gold Mine with an objective
of understanding the behaviour of rock mass at an elevated temperature and to
ultimately develop appropriate models, their validation and to develop suitable
instrumentation for the underground mining conditions. These studies are being
carried out since 1980s at a depth of 1000 meter in the amphibolite rock
formation of Kolar Gold Fields. The studies employ electrical heater to
simulate the heat conditions which will be encountered in an actual deep
geological repository.
It may be noted
that Kolar Gold Mines being vulnerable to water ingress, have never been and
will never be a candidate for deep geological repository.
We request the
entire media to kindly publish these clarifications in their esteemed
journals/news channels for the benefit of their valuable readers/viewers.
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 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 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. 54.29 |
|
|
1 |
Rs. 84.09 |
|
Euro |
1 |
Rs. 72.44 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
81 |
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.