MIRA
INFORM REPORT
|
Report Date : |
01.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
NTPC LIMITED |
|
|
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|
Formerly Known
As : |
NATIONAL
THERMAL POWER CORPORATION LIMITED |
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Registered Office
: |
NTPC Bhawan, Scope Complex, 7, Institutional Area, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
07.11.1975 |
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Com. Reg. No.: |
55-007966 |
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Capital
Investment / Paid-up Capital : |
Rs. 82454.600 Millions |
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CIN No.: [Company Identification
No.] |
L40101DL1975GOI007966 |
|
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|
|
TAN No.: [Tax Deduction and
Collection Account No.] |
DELN11894B/ DELN05281D |
|
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PAN No.: [Permanent Account No.] |
AAACN0255D |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in the business of Generation and Sale of Bulk Power and also Providing Consultancy, Project Management and Supervision, Oil and Gas Exploration and Coal Mining. |
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No. of Employees
: |
25484 (Approximately) |
RATING and COMMENTS
|
MIRA’s Rating : |
Aa (75) |
|
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 3265000000 |
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|
Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is an old and well-established company having excellent track
record. The rating reflects NTPC’s dominant position
in India’s regulated power generation sector supported by strong business and
financial risk profiles and strategic importance to the Government of India. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A sharp fall in gold imports due to restrictions on
overseas purchases and muted import of capital goods helped shrink the current
account deficit.
Online retailer Flipkart
has acquired fashion portal Myntra as it prepares to
battle with the rapidly expanding India arm of the global e-commerce giant
Amazon. The company raised $ 210 million from Russian Investment firm DST
Global which has also invested in companies like Facebook,
Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune
in the second half of 2014. GM was one of the few global carmakers that was
using its India plant only for the domestic market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward Brown. Google’s brand value shot up 40 % in a year
to $ 158.84 billion. The top 10 of the 100 slots were dominated by US
companies.
Infosys lost another heavy weight when B G Srinivas,
a board member put in his papers. He is the third CEO-hopeful to quit after
Chairman N R Narayana Murthy’s return to the company
– Ashok Vemuri and V Balakrishnan being the other two.While
Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted biggest
quarterly loss – Rs 2153.37 crore
– in the three months ended March 31, mainly because it has been offering
discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala
Police had arrested Pinckney and two company directors on charges of financial
irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies.
China’s action which targets consultancies like McKinsey & Co. and the
Boston Consulting Group, sterns from fears that the first are providing trade
secrets to the US governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy AstraZeneca for nearly $ 118 billion after the latter
refused an offer of 55 pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “AAA” |
|
Rating Explanation |
High degree of safety and carry lowest credit risk. |
|
Date |
19.02.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A1+” |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
19.02.2014 |
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-COOPERATIVE (Tel. No. : 91-11-243878381)
LOCATIONS
|
Registered
Office : |
NTPC Bhawan, Scope Complex, 7, Institutional
Area, Lodhi Road, New Delhi – 110003, India |
|
Tel. No.: |
91-11-24361557/ 24361012/ 24360100/ 24387001 (10 Lines) |
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Fax No.: |
91-11-24368417/ 24361018 |
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E-Mail : |
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Website : |
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NTPC Regional
Offices: |
R and D, Centre, 8A, Sector - 24, Noida -
201301, District Ghaziabad, Uttar Pradesh, India Engineering
office complex Plot NO. 8A, Sector -16A, Noida - 201301,
District Ghaziabad, Uttar Pradesh, India Power management
institute Plot No. 5 to 14, Sector - 16A, Noida -
201301, District Ghaziabad, Uttar Pradesh, India Website: http://www.pmintpc.com Consultancy wing Core No.6, 7th Floor, Scope Complex, 7, Lodi Road, New Delhi, India 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,
Uttar Pradesh, India Tel. No.: 91-118-241285 |
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Corporate Office
: |
Core 5, Second Floor, SCOPE Complex, Lodhi
Road, New Delhi – 110003, India |
|
Tel. No.: |
91-11-24365088 |
|
Fax No.: |
91-11-24361903 / 3064 / 1781 |
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Regional
Headquarters : |
Eastern Region 2nd Floor, Alankar Place, Boring
Road, Patna - 800001, Bihar, India 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 1st Floor, B-1, Block Picup, Bhawan Vibhuti, Khand, Gomti Nagar, Lucknow-226010, Uttar Pradesh, India Tel. No.: 91-522-2395870/2394630/2395604 Fax. No.: 91-522-2398941/2391816 Sangam Place, 5th Floor, Civil Lines, Allahabad
- 211002, Uttar Pradesh, India 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, R.P. Road, Secunderabad - 500003, Andhra Pradesh, India 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, Maharashtra, India Tel. No.: 91-22-28310213/28227762/28310214/28209197 Fax. No.: 91-22-28310218/28310219 |
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National Capital
Region (NCR-HQ) : |
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Thermal
Power Stations : |
· Badarpur Thermal Power Station- Badarpur, New Delhi, India National
Capital Thermal Power Project- Distt. Gautum Budh Nagar,
Uttar Pradesh, India |
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|
Gas
Power Stations : |
· Anta Gas Power Project – Distt. Baran, Rajasthan, India Auraiya Gas Power Project – Distt. Auraiya, Uttar Pradesh,
India Faridabad Gas Power Project – Distt. Faridabad, Haryana, India National
Capital Power Project- Distt. Gautum
Budh Nagar, Uttar
Pradesh, India |
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Eastern Region (ER-HQ)-
I: |
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Thermal
Power Stations : |
· Barh Super Thermal Power Project- Distt. Patna, Bihar, Uttar Pradesh, India Farakka Super Thermal Power Station – Distt. Murshidabad, West
Bengal, India Kahalgaon Super Thermal Power Project- Distt. Bhagalpur, Bihar, India North
Karanpura Super Thermal Power Project – Hazaribagh, Jharkhand, India |
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Eastern Region
(ER-HQ)- II : |
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Thermal
Power Stations : |
· Talcher Super Thermal Power Station- Distt. Angul, Odisha, India Talcher Thermal Power Station- Distt. Angul, Odisha, India Bongaigaon Thermal Power
Project, Distt. Kokrajhar,
Assam, India Gajamara Super Thermal Power Project, Distt. Dhenkanal, Odisha, India Darlipalli Super Thermal Power
Project, Distt. Sundergarh,
Jharsuguda, Odisha, India |
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Northern Region
(NR-HQ) : |
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Thermal
Power Stations : |
· Feroze Gandhi Unchahar Thermal Power Station – Distt. Raebareli, Uttar Pradesh, India Rihand Super Thermal Power Project – Distt. Sonebhadra, Uttar
Pradesh, India Singrauli Super Thermal Power Station – Distt. Sonebhadra, Uttar
Pradesh, India Tanda Thermal Power Station- Distt. Ambedkar Nagar, Uttar Pradesh, India Bilhaur Super Thermal Power Project, Distt. Kanpur, Uttar Pradesh,
India |
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Southern Region
(SR-HQ) : |
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Thermal
Power Stations : |
· Ramagundam Super Thermal Power Station- Distt. Karimnagar, Andhra Pradesh, India Simhadri Super Thermal Power Project- Vishakapatnam, Andhra Pradesh, India Kudgi Thermal Power Project, Bijapur, Karnataka, India |
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Gas
Power Stations : |
Rajiv Gandhi Combined Cycle Power Project – Distt. Alappuzha, Kerala, India |
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Wind Energy
Project, Belgaum, Karnataka Western Region
(WR-HQ)-I: |
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Thermal
Power Stations : |
· Solapur Super Thermal Power Project – Solapur, Maharashtra, India Mouda Super Thermal Power Project – Nagpur, Maharashtra, India |
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Gas
Power Stations : |
· Jhanor Gandhar Gas Power Project- Distt. Bharuch, Gujarat, India Kawas Gas Power Project- Aditya
Nagar, Surat, Gujarat,
India |
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Western Region
(WR-HQ)-II Thermal
Power Stations : |
· Korba Super Thermal Power Station- Distt. Korba, Chhattisgarh, India Sipat Super Thermal Power Project-Distt. Bilaspur, Chattisgarh, India Vindhyachal Super Thermal Power
Station- Distt. Sidhi,
Madhya Pradesh, India Gadarwara Super Thermal Power Project, Kandeli-Narsinghpur, Madhya Pradesh, India Lara
Super Thermal Power Project, Distt. Raigarh, Chattisgarh, India Khargone Super Thermal Power Project, Khargone, Madhya Pradesh, India |
DIRECTORS
As on 31.03.2013
|
Name : |
S.C. Pandey |
|
Designation : |
Executive Director |
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Name : |
G.J. Deshpande |
|
Designation : |
Executive Director |
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|
Name : |
Anil Kumar Ahuja |
|
Designation : |
Executive Director |
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|
Name : |
A. C. Chaturvedi |
|
Designation : |
Executive Director |
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|
Name : |
Sharad Anand |
|
Designation : |
Executive Director |
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|
Name : |
Virendra Kumar Gupta |
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Designation : |
Executive Director |
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Name : |
R. Venkateswaran |
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Designation : |
Executive Director |
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Name : |
M.K.V.R. Rao |
|
Designation : |
Executive Director |
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|
Name : |
S.N. Ganguly |
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Designation : |
Executive Director |
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|
Name : |
Saptarshi Roy |
|
Designation : |
Executive Director |
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|
Name : |
M.S.Soin |
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Designation : |
Executive Director |
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|
Name : |
Dinesh Kumar Agarwal |
|
Designation : |
Executive Director |
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|
Name : |
Manash Sarkar |
|
Designation : |
Executive Director |
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|
Name : |
Dr. Arja Srikanth - on deputation from Railways |
|
Designation : |
Executive Director |
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|
Name : |
Anand Kumar - IPS Officer on deputation |
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Designation : |
Executive Director |
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|
Name : |
A.K. Chatterjee |
|
Designation : |
Executive Director |
|
|
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|
Name : |
A.K.Sharma |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Y.V.Rao |
|
Designation : |
Executive Director |
|
|
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|
Name : |
Thomas Joseph |
|
Designation : |
Executive Director |
|
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|
Name : |
Anil Gupta |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
G.K.Sadhu |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
K.S.Garbyal |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Anand Kumar Gupta |
|
Designation : |
Executive Director |
|
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|
Name : |
Ajit Kumar |
|
Designation : |
Executive Director |
|
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|
Name : |
G. Ravindra |
|
Designation : |
Executive Director |
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|
Name : |
Sudhir Arya |
|
Designation : |
Executive Director |
|
|
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|
Name : |
S.J.Muley |
|
Designation : |
Executive Director |
|
|
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|
Name : |
H.K.Sandhir |
|
Designation : |
Executive Director |
|
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|
Name : |
V.B Fadnavis |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Nand Kishore Sharma |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
K.K.Sharma |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Arvind Kumar |
|
Designation : |
Executive Director |
|
|
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|
Name : |
Vinod Sharma |
|
Designation : |
Executive Director |
|
|
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|
Name : |
R.K.Srivastava |
|
Designation : |
Executive Director |
|
|
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|
Name : |
K.K.Singh |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Janardan Kar - On depu. to CSPGCL |
|
Designation : |
Executive Director |
|
|
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|
Name : |
R. N. Sen - On depu. to DVC |
|
Designation : |
Executive Director |
KEY EXECUTIVES
|
Name : |
Mr. A. K. Rastogi |
|
Designation : |
Company Secretary |
|
|
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|
General Manager |
· Biswanath Mukherjee Dinesh Agrawal Rakesh Khetarpal Anuttam Chaudhuri Narayanan
Kannan A.K.
Mohindru V.K.C.
Mohan S.P.
Singh D.
Saha Sangeet Kumar Dave S.K.
Singh Shashi Ranjan P.
Ramesh R.S.Rathee Janhvi Shanker P.R.
Dahake Dushyant Kumar Sood P.K.
Mohapatra J.N.
Singh Anil
Kumar Rastogi A.
Upendra Rao Devraj Bhattacharjee Anil
Kumar Chander Prakash Malik Pradeep Bhaskar Behere Joseph
Kurian Govinda Chandra Mishra Sankar Bandyopadhyay GourDas Basu P.S.
Radhakrishnan Vinod Kumar Padha Sanjay
Kumar Sur Inder Kumar Rajdeva P.S.
Rao S.K.
Jain Ramkrishna Pal S.K.
Patnaik Arvind Kumar Sinha S.K.
Roy Arun Kumar Sinha Devashis Basu Subhasis Ghosh Nageen Kumar Kothari Pramod Kumar V.
Thangapandian Ajit Kumar Bhatnagar R.R.
Shrivastava Arun Prakash Trivedi Rajiv Kumar Jain Jaiwant Pesumal Sachdev Dilip Singh Manki Ramahuj Mishra Dileep Mathur Asit Baran Halder Sure
Krishna Reddy Harbans Singh Dilip Kumar Dubey P.K.Bhattacharya Ajay
Kumar Atrea Satinder Pal Singh Kothandaraman Sreedhar |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 13.06.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
6180614980 |
74.96 |
|
|
6180614980 |
74.96 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
6180614980 |
74.96 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
45461928 |
0.55 |
|
|
807177708 |
9.79 |
|
|
112172034 |
1.36 |
|
|
871837890 |
10.57 |
|
|
1836649560 |
22.27 |
|
|
|
|
|
|
44599260 |
0.54 |
|
|
|
|
|
|
151687344 |
1.84 |
|
|
16832822 |
0.20 |
|
|
15080434 |
0.18 |
|
|
4891662 |
0.06 |
|
|
4396105 |
0.05 |
|
|
1500 |
0.00 |
|
|
2590 |
0.00 |
|
|
21543 |
0.00 |
|
|
5767034 |
0.07 |
|
|
228199860 |
2.77 |
|
Total Public shareholding (B) |
2064849420 |
25.04 |
|
Total (A)+(B) |
8245464400 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
8245464400 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Generation and Sale of Bulk Power and also Providing Consultancy, Project Management and Supervision, Oil and Gas Exploration and Coal Mining. |
|
|
|
|
Products/ Services : |
· Generation of Electricity Consultancy
Services Management
of Power Stations |
GENERAL INFORMATION
|
No. of Employees : |
25484 (Approximately) |
||||||||||||||||||
|
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|
||||||||||||||||||
|
Bankers : |
· Allahabad Bank Andhra
Bank Bank
of India Canara Bank Central
Bank of India Citi Bank, NA Dena
Bank Indian
Overseas Bank ICICI
Bank Limited IDBI
Bank Limited Jammu
and Kashmir Bank Limited Oriental
Bank of Commerce Punjab
National Bank Punjab
and Sind Bank State
Bank of Bikaner and Jaipur State
Bank of Mysore State
Bank of Hyderabad State
Bank of India State
Bank of Patiala State
Bank of Travancore UCO
Bank Union
Bank of India United
Bank of India Vijaya Bank |
||||||||||||||||||
|
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|
||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
O. P. Bagla and
Company Chartered Accountants K. K. Soni and
Company Chartered Accountants PKF Sridhar and Santhanam Chartered Accountants V. Sankar Aiyar and Company Chartered Accountants Ramesh C. Agrawal and Company Chartered Accountants A.R. and Company Chartered Accountants |
|
|
|
|
Subsidiaries : |
· NTPC Electric Supply Company Limited NTPC
Hydro Limited NTPC
Vidyut Vyapar Nigam Limited Kanti Bijlee Utpadan Nigam Limited Bhartiya Rail Bijlee
Company Limited |
|
|
|
|
Joint venture : |
· Utility Powertech Limited NTPC-Alstom Power Services Private Limited BF-NTPC
Energy Systems Limited Pan-Asian
Renewables Private Limited Trincomalee Power Company Limited Bangladesh-India
Friendship Power Company Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000000 |
Equity Shares |
Rs.10/- each |
Rs. 100000.000 Millions |
|
|
|
|
|
Issued, Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8245464400 |
Equity Shares |
Rs.10/- each |
Rs. 82454.600 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
82454.600 |
82454.600 |
82454.600 |
|
(b) Reserves and Surplus |
721420.500 |
650457.100 |
596467.900 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
(3) Deferred Revenue |
12440.500 |
14300.600 |
8544.800 |
|
Total
Shareholders’ Funds (1) + (2) |
816315.600 |
747212.300 |
687467.300 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
532536.600 |
459082.700 |
397356.800 |
|
(b) Deferred tax liabilities (Net) |
9153.000 |
6369.000 |
6029.500 |
|
(c) Other long term liabilities |
19659.900 |
17290.600 |
20505.800 |
|
(d) long-term provisions |
7399.200 |
6037.000 |
5619.000 |
|
Total Non-current Liabilities (3) |
568748.700 |
488779.300 |
429511.100 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
51587.700 |
44606.500 |
40880.100 |
|
(c) Other current
liabilities |
104467.200 |
95372.400 |
77625.000 |
|
(d) Short-term provisions |
70045.400 |
32336.900 |
21905.300 |
|
Total Current Liabilities (4) |
226100.300 |
172315.800 |
140410.400 |
|
|
|
|
|
|
TOTAL |
1611164.600 |
1408307.400 |
1257388.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
626874.200 |
450444.700 |
390290.700 |
|
(ii) Intangible Assets |
2486.800 |
2118.900 |
2068.900 |
|
(iii) Capital
work-in-progress |
371094.200 |
418278.200 |
354953.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.400 |
0.300 |
|
(b) Non-current Investments |
91376.400 |
95839.200 |
105328.400 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
96334.500 |
53943.500 |
39019.600 |
|
(e) Other Non-current assets |
11327.700 |
13718.800 |
4591.500 |
|
Total Non-Current Assets |
1199493.800 |
1034343.700 |
896252.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
16224.600 |
16224.600 |
18120.000 |
|
(b) Inventories |
40571.900 |
37028.500 |
36391.200 |
|
(c) Trade receivables |
53654.900 |
58325.100 |
14349.600 |
|
(d) Cash and cash
equivalents |
168677.000 |
161418.300 |
161852.600 |
|
(e) Short-term loans and
advances |
17455.300 |
15433.200 |
37778.600 |
|
(f) Other current assets |
115087.100 |
85534.000 |
92644.400 |
|
Total Current Assets |
411670.800 |
373963.700 |
361136.400 |
|
|
|
|
|
|
TOTAL |
1611164.600 |
1408307.400 |
1257388.800 |
PROFIT and LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
656739.300 |
620522.300 |
550626.500 |
|
|
|
Other Income |
31015.800 |
27896.500 |
23446.500 |
|
|
|
TOTAL (A) |
687755.100 |
648418.800 |
574073.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Fuel |
410182.500 |
416354.600 |
353737.800 |
|
|
|
Employee benefits expense |
33601.200 |
31017.100 |
27897.100 |
|
|
|
Generation, administration and other expenses |
42112.200 |
35887.900 |
49262.800 |
|
|
|
Prior period items (net) |
(297.200) |
(3135.800) |
(16387.200) |
|
|
|
Exceptional items |
(16841.100) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
468757.600 |
480123.800 |
414510.500 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
218997.500 |
168295.000 |
159562.500 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
19243.600 |
17116.400 |
14209.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
199753.900 |
151178.600 |
145352.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
33967.600 |
27917.000 |
24856.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
165786.300 |
123261.600 |
120496.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
39592.400 |
31024.300 |
29470.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX (G-H) (I) |
126193.900 |
92237.300 |
91025.900 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
721.400 |
324.500 |
297.000 |
|
|
|
|
|
|
|
|
|
|
WRITE BACK FROM
BOND REDEMPTION RESERVE |
3465.000 |
3250.000 |
2500.000 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Bonds Redemption Reserve |
4927.900 |
4823.800 |
4949.400 |
|
|
|
Transfer to Capital Reserve |
9.700 |
4.400 |
68.700 |
|
|
|
Transfer to General Reserve |
65000.000 |
52000.000 |
52000.000 |
|
|
|
Dividend - Interim |
30920.700 |
28859.200 |
24736.300 |
|
|
|
- Final (Proposed) |
16490.900 |
4122.700 |
6596.300 |
|
|
|
Tax on Dividend - Interim |
5016.100 |
4650.900 |
4108.400 |
|
|
|
- Final |
2802.600 |
628.300 |
1039.300 |
|
|
BALANCE CARRIED
TO THE B/S |
5212.400 |
721.400 |
324.500 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Professional and Consultancy fee |
21.500 |
24.800 |
10.100 |
|
|
|
Other Earnings |
1.000 |
2.800 |
1.100 |
|
|
TOTAL EARNINGS |
22.500 |
27.600 |
11.200 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
10090.500 |
8803.400 |
9653.100 |
|
|
|
Spare Parts |
1244.400 |
1900.900 |
987.300 |
|
|
TOTAL IMPORTS |
11334.900 |
10704.300 |
10640.400 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
15.30 |
11.19 |
11.04 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2013 |
30.09.2013 |
31.12.2013 |
31.03.2014 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
156618.500 |
164154.400 |
188051.200 |
210388.300 |
|
Total Expenditure |
113476.100 |
121635.000 |
141493.100 |
164962.800 |
|
PBIDT (Excl OI) |
43142.400 |
42519.400 |
46558.100 |
45425.500 |
|
Other Income |
6969.300 |
6439.700 |
7489.500 |
5990.400 |
|
Operating Profit |
50111.700 |
48959.100 |
54047.600 |
51415.900 |
|
Interest |
6174.100 |
6204.600 |
6010.300 |
5676.900 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
43937.600 |
42754.500 |
48037.300 |
45739.000 |
|
Depreciation |
9423.300 |
9679.400 |
10242.800 |
12076.400 |
|
Profit Before Tax |
34514.300 |
33075.100 |
37794.500 |
33662.600 |
|
Tax |
9244.100 |
8146.100 |
9181.700 |
2727.200 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
25270.200 |
24929.000 |
28612.800 |
30935.400 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
25270.200 |
24929.000 |
28612.800 |
30935.400 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
18.35 |
14.22 |
15.86 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
25.24 |
19.86 |
21.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.43 |
13.78 |
15.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.16 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.65 |
0.61 |
0.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.82 |
2.17 |
2.57 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
82454.600 |
82454.600 |
82454.600 |
|
Reserves & Surplus |
596467.900 |
650457.100 |
721420.500 |
|
Deferred Revenue |
8544.800 |
14300.600 |
12440.500 |
|
Net
worth |
687467.300 |
747212.300 |
816315.600 |
|
|
|
|
|
|
long-term borrowings |
397356.800 |
459082.700 |
532536.600 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
397356.800 |
459082.700 |
532536.600 |
|
Debt/Equity
ratio |
0.578 |
0.614 |
0.652 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
550626.500 |
620522.300 |
656739.300 |
|
|
|
12.694 |
5.837 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
550626.500 |
620522.300 |
656739.300 |
|
Profit |
91025.900 |
92237.300 |
126193.900 |
|
|
16.53% |
14.86% |
19.22% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
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 |
Yes |
|
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 |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 |
LITIGATION
DETAILS
IN THE HIGH COURT
OF DELHI AT NEW DELHI
O.M.P. 479/2011
SPML INFRA LIMITED ..... Petitioner
Through: Mr. Rakesh Sinha
and Mr. Samrat
Sengupta, Advs.
versus
NTPC LIMITED ..... Respondent
Through: Mr. Bharat Sangal
and Ms. I. Abenta Aiers,
Advs.
CORAM:
HON'BLE MR. JUSTICE MANMOHAN SINGH
ORDER
12.05.2014
Learned counsel for the respondent has produced the letter dated 7th May, 2014 which
indicates that Justice G.N. Ray, (former Judge, Supreme Court of
India) is appointed as sole Arbitrator. Counsel states that since
the Supreme Court has stayed the arbitration proceedings by order
dated 14th January, 2011, the application before the Sole
Arbitrator, in these circumstances, cannot be moved by the
petitioner. Learned counsel for the petitioner states that he will
move the appropriate application, if necessary, within two weeks otherwise
he will press the application filed in the present petition.
Renotify on 28th July, 2014.
MANMOHAN SINGH, J.
MAY 12, 2014/nk
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10495600 |
03/05/2014 |
5,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BUILDING, GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
C03722618 |
|
2 |
10501963 |
03/05/2014 |
7,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BUILDING,
GROUND FLOOR, 17, R. KAMANI MARG |
C03722915 |
|
3 |
10465479 |
10/12/2013 |
17,500,000,000.00 |
IL AND FS TRUST COMPANY LIMITED |
IL AND FS FINANCIAL
CENTREPLOT NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI,
MAHARASHTRA |
B91335646 |
|
4 |
10429728 |
04/05/2013 |
5,000,000,000.00 |
IL AND FS TRUST COMPANY LIMITED |
IL AND FS FINANCIAL
CENTREPLOT NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI,
MAHARASHTRA |
B74907619 |
|
5 |
10382985 |
15/10/2012 |
4,650,000,000.00 |
IL AND FS TRUST COMPANY LIMITED |
IL AND FS FINANCIAL
CENTREPLOT NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI,
MAHARASHTRA |
B59981050 |
|
6 |
10367677 |
30/07/2012 |
5,750,000,000.00 |
IL AND FS TRUST COMPANY LIMITED |
IL AND FS FINANCIAL
CENTREPLOT NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI,
MAHARASHTRA |
B44534576 |
|
7 |
10342964 |
16/03/2012 |
6,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B35070085 |
|
8 |
10304274 |
25/08/2011 |
1,800,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B19625060 |
|
9 |
10291216 |
13/06/2011 |
750,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
B14607170 |
|
10 |
10273106 |
16/03/2011 |
3,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B08475543 |
|
11 |
10238347 |
31/08/2010 |
3,450,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
A93591436 |
|
12 |
10222198 |
28/05/2010 |
8,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
A86464609 |
|
13 |
10165760 |
08/07/2009 |
7,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
A65451700 |
|
14 |
10139748 |
29/01/2009 |
20,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND
FLOOR, 17, R.KAMANI MARG, BA |
A55618680 |
|
15 |
10089840 |
27/02/2008 |
10,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI- 400 001., MAHARASHTRA, INDIA |
A33320375 |
|
16 |
10042089 |
27/03/2007 |
15,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI- 400001., MAHARASHTRA - 400001, INDIA |
A12399333 |
|
17 |
10000160 |
23/03/2006 |
10,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BUILDING,
GROUND FLOOR, 17, R KAMANI MARG, |
A00055962 |
|
18 |
90051612 |
10/06/2005 * |
5,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
10 FLOOR ; NARIMAN BHAVAN, 227 ; VINAY K SHAH MARG ; NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
19 |
90044130 |
23/03/2005 * |
500,000,000.00 |
ILANDFS TRUST COMPANY LIMITED |
ILANDFS FINANCIAL
CENTRE; PLOT; C-22; BLOCK G, BAND |
- |
|
20 |
90048988 |
20/01/2004 * |
1,500,000,000.00 |
IL AND FS TRUST COMPANY LIMITED |
IL AND FS FINANCIAL CENTRE ; PLOT C - 22, BLOCK G; BANDRA-KURLA COMPLEX, MUMBAI, MAHARASHTRA - 400051, INDIA |
- |
|
21 |
90043638 |
23/03/2005 * |
15,000,000,000.00 |
ILANDFS TRUST COMPANY LIMITED |
ILANDFS FINANCIAL CENTRE; PLOT; C-22; BLOCK G, BANDRA-KURLA COMPLEX; BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
- |
|
22 |
90040356 |
28/02/2013 * |
50,000,000,000.00 |
STATE BANK OF INDIA |
JAWAHAR VYAPAR BHAWAN, 11TH AND 12TH FLOOR, 1 TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA |
B70351135 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs. In Millions) |
31.03.2012 (Rs. In Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Bonds |
3000.000 |
0.000 |
|
Foreign Currency
notes |
|
|
|
4.75% Fixed rate notes due for repayment on 3rd October 2022 |
27455.000 |
0.000 |
|
Foreign Currency 5.625 % Fixed rate noted due for repayment on 14th July
2021 |
27455.000 |
25815.000 |
|
Foreign Currency 5.875 % Fixed rate notes due for repayment on 2nd March
2016 |
16473.000 |
15489.000 |
|
Term Loan - From
Banks |
|
|
|
Foreign Currency Loans |
47667.000 |
39271.500 |
|
Rupee Loans |
138849.000 |
94635.200 |
|
From Others |
|
|
|
Foreign Currency loan (guaranteed by GOI) |
26040.900 |
29994.900 |
|
Other foreign currency loans |
18645.500 |
18725.100 |
|
Rupee loans |
130905.500 |
143584.300 |
|
Deposits Fixed Deposts |
5.200 |
4.700 |
|
Bonds application money pending allottment |
2000.000 |
0.000 |
|
Total |
438496.100 |
367519.700 |
OPERATIONAL
PERFORMANCE
GENERATION:
During the year, the power stations of the Company generated 232.028 BUs (247 BUs including JVs) of electricity which was 25.57% (27.22% including JVs) of the total power generated in India (without Bhutan import).
The total power generated by the Company has registered an increase of 4.49% over the previous years generation of 222.068 BUs. The total generation contributed by coal stations is 212.329 BUs during the year against generation of 199.054 BUs last year registering a growth of 6.67%.
Generation from coal based units could have been still higher but due to less grid demand there was generation loss of 7.48 BUs. The coal based stations of the Company operated at average Plant Load Factor (PLF) of 83.08% (All India PLF 69.95%) and average Availability Factor of 90.20% on bus bar during theyear. During theyear, 6 coal based stations out of16achieved more than 90% PLF.
The gas stations having a capacity of 3,955 MW achieved annual generation of 19.699 BUs at a PLF of 55.98% as against 23.014 BUs last year mainly due to less grid demand which accounted for a generation loss of 12.954 BUs. The average declared capacity of gas based stations of the year was 93.14% as compared to 93.81% during previous year.
COMMERCIAL
PERFORMANCE
The Company has realized 100% payment of current bills raised for sale of power, thus achieving this feat for the tenth consecutive year.
REBATE SCHEME/ ONE
TIME SETTLEMENT SCHEME FOR REALIZATION OF DUES:
In order to achieve early realization of dues, the Company gives rebate to its beneficiaries who make payments within time, through its Rebate Schemes.
In the Rebate Scheme for 2012-13 rebate was given to those customers also who were making payment after 30 days and upto 55th day.
Rebate Scheme for 2013-14 contains an additional provision of additional rebate of 0.1% for opening of monthly Letter of Credit (LC) by beneficiaries over and above the Rebate Scheme for 2012-13.
Most of the customers were making their payments within 30 days of billing, barring state utilities from UP, Haryana, Punjab, Himachal Pradesh, Andhra Pradesh, Tamil Nadu, Rajasthan, Meghalaya who were making their payments within allowable 60 days period.
All the beneficiaries have established LC and are maintaining it. As on 31.03.2013, the Company has monthly LCs of Rs. 5,9156.000 Millions.
The issue of DESU period dues payable by Government of NCT of Delhi has been settled and Government of India had approved settlement of Rs. 2,5200.800 Millions (Rs. 835.9.700 Millions as principal and Rs. 1,6841.100 Millions as interest and surcharge) towards DESU dues. The receipt of amount is being pursued with the Govt.
DETERMINATION OF
TARIFF:
The Company had filed tariff petitions for the five- year period starting 1.4.2009 before Central Electricity Regulatory Commission (CERC) for all the stations in accordance with the CERC (Terms and Conditions of Tariff) Regulations, 2009.
Tariff orders have been received for 26 stations till 31.03.2013 out of 35 stations.
True-up petitions for revision of tariff were filed for 20 stations.
CERC had allowed additional reimbursement of Rs. 7649.700 Millions for 2004-09 period related to pay revision for NTPC employees, CISF and Kendriya Vidyalaya staff.
OTHER ACTIVITIES:
Long term access for evacuation of power has been granted for five projects i.e. Vindhyachal-V, Dadri Solar, Tanda, Lara and Darlipalli.
CERC issued an amendment in the grant of connectivity regulation to allow connectivity to renewable projects having capacity above 5 MW but less than 50 MW being developed in the existing generating stations through the existing electrical system of the stations. This provision would enable the Company to set up renewable capacity within the premises of the existing generating stations.
STRENGTHENING
CUSTOMER RELATIONSHIP:
Customer Relationship Management (CRM) initiative has been taken by the Company towards strengthening relationship with the customers. This is also reflected in the Core Values of the Company which emphasize Customer Focus.
Under CRM, apart from Regional Customer Meets, Business Partner Meets, training programs for officials of customers at PMI, regular structured interaction with customers takes place on an ongoing basis for sharing of feedbacks, experiences and expectations. Based on the feedback received from the customers, the Company provides various support services to them, identifies potential areas of cooperation and shares best practices with the customer utilities. During 2012-13, 58 such services were provided to the customers on the basis ofthe requirement expressed by various customers. Further, 138 participants from various customer utilities attended training in 60 programs conducted by PMI.
Starting from 2008-09, NTPC has rolled out a Customer Satisfaction Index (CSI) Survey for gathering customers feedback and responding to their requirements. This initiative serves as a useful tool for further strengthening Customer Relationship and better appreciation of their business. The CSI Survey was conducted in 2012-13 and detailed action plan has been made based on the response to the survey.
NEW TECHNOLOGY
To meet the future challenges of meeting Indias electricity needs at affordable cost with minimum environmental impact, the Company has drawn a long term Technology Roadmap up to 2032. The technology roadmap envisages development, adoption and promotion of safe, efficient and clean technologies for entire value chain of power generation business.
For most of the new projects, the Company will be setting up super critical and Ultra Super Critical units of 660/ 800 MW which have higher efficiency and are also environmental friendly. The Company has awarded bulk tendering projects with super critical technology for Kudgi-I (3X800 MW), Lara-I (2X800 MW), Solapur (2X660 MW), Mouda -II (2X660 MW) and Gadarwara (2X800 MW).
The Company has adopted several new technologies, system and practices including combined cycle gas-fired power stations, Distributed Digital Control and Management Information System, High Voltage Direct Current transmission, Sliding Pressure Operation of SG, Dry Ash Extraction and Disposal, 765 KV Switchyard, Ash Water Recirculation System, Liquid Waste Management System, Performance Analysis and Diagnostic Optimization, Tunnel Boring Machines and Super Critical Technologies. Three (03) numbers Super critical units of 660 MW is already under operation at Sipat-I where steam parameters are 247 kg/cm2/537ø C/5650 C. Further, the Company has adopted higher steam parameters for all 660 and 800 MW units from Barh-ll onward resulting in 5% gain in efficiency over the efficiency of conventional sub-critical 500 MW unit using similar coal. For all the new sub-critical 500 MW units also, reheat temperature has been increased to 565 0 C resulting in about 0.7% gain in efficiency.
The Company has taken initiatives for indigenous development of advance ultra super critical technology for which it has entered into MOU with BHEL and IGCAR. It has potential to enhance thermal efficiency of the power plant to around 46% and result in about 15-20% less C02 emission as compared to conventional 500 MW sub-critical thermal power plants. It envisages installing a technology demonstration plant having 800 MW unitwith steam parameters of310 kg/sq cm7100 C/720 øC.
The Company is preparing Detailed Project Report for hybrid solar thermal plant of about 3.6 MW by integration of solar heat with 210 MW coal based unit at Dadri. Solar heat is proposed to be integrated along with feed heaters in the turbine cycle for conversion of solar heat to electrical power with the help of existing steam cycle of 210 MW. Once integrated, this will reduce coal consumption thereby reducing C02 emissions.
HYDRO POWER
7.6.1 The Company is setting up the following hydro projects for increasing its footprints in renewable energy development.
Construction work is in progress in Koldam HEPP and Tapovan - Vishnugad HEPP.
In addition, Lata Tapovan HEPP (171 MW) (under construction) and Rammam-lll HEPP (120 MW) (under bidding) were being implemented by NTPC Hydro Limited, a wholly-owned subsidiary of NTPC.
NTPC Hydro Limited is now being merged with NTPC Limited, for which the Shareholders Meeting of NTPC and Shareholders Meeting of NHL was held on 24.05.2013, as per the Order of the Ministry of Corporate Affairs. The legal process ofamalgamation is in progress.
Loharinag Pala HEPP had been discontinued on the advice of Ministry of Power. The Empowered Committee constituted by GOI for the purpose of settling the claims had approved reimbursement of Rs. 5363.000 Millions in first Phase to NTPC, the Company is pursuing for release of funds.
The flash flood during June 2013 in the river Dhauliganga have caused damage to barrage and roads approaching to power houses at Lata Tapovan HEPP and Tapovan- Vishnugad HEPP. At Tapovan-Vishnugad HEPP, damages have also been caused to upstream and downstream diversion dyke, roads, besides water logging and silt accumulation in power house cavern and Tail Race Tunnel (TRT). While the exact impact shall be known after receding of flood, however, these factors may influence project commissioning schedule.
HYDRO ENGINEERING
In pursuance of Memorandum of Agreement signed with Govt, of Mizoram, Detailed Project Report of Kolodyne-ll HEPP (4X115MW) prepared by Central Water Commission for Govt, of Mizoram and updated by NTPC was submitted to CEA for according Techno-Economic Clearance (TEC). CEA has considered the proposal and accorded Techno-Economic Clearance. As the land required for the project involves Forest Land, the proposal for approval of diversion of Forest Land was submitted to the Government of Mizoram. Government of Mizoram is yet to submit the proposal to Ministry of Environment and Forests.
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 geared capital structure 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 2012-13, term loan agreements of Rs. 6,9700.000 Millions were entered into including loan agreement of Rs. 20000.000 Millions executed with Union Bank of India and loan agreement of Rs. 6000.000 Millions executed with JandK Bank Limited. The cumulative amount of domestic loans tied up till March 31, 2013 was Rs. 596993.500 Millions (excluding undrawn loans short-closed as per agreements).
The Company has also tied-up USD 750 million from international debt markets through foreign currency notes and term loan.
The bond offering of the Company received strong investor response.
COAL SUPPLIES
The Company has Fuel Supply Agreements (FSA) in place for 20 years for 23,895 MW units commissioned till 31.03.2009. The Company has signed in-principle FSAs for NTPC and its JVs with Coal India Limited for 14,010 MW on 17.07.2013. However, detailed FSAs are signed for 4,760 MW NTPC Stations and 2,250 MW for NTPC JV stations. Further, detailed FSAs will be signed for balance capacity 4,860 for NTPC stations and 2,140 MW for NTPC JV stations shortly.
The Company has obtained Letter of Assurance from Eastern Coalfields Limited for supply of 0.4 MMT of coal for Bongaigaon (2X250MW).
The Company has also tied up coal supply through bilateral MOU for 0.3 MMT coal for Farakka with NEC and for 4.0 MMT with SCCL for Ramgundam and Simhadri at a mutually negotiated price. The total coal supply through bilateral MOU during 2012-13was 3.122 MMT.
GAS SUPPLIES
During 2012-13, the Company received 10.67 MMSCMD of gas and RLNG as against 13.09 MMSCMD received during 2011-12. The gas off-take in 2012-13 includes 8.77 MMSCMD ofgas and 1.90 MMSCMD of RLNG. Gas offtake was less due to less availability of generation schedule from the beneficiary states.
The Company has APM gas agreements up to the year 2021 and PMT gas agreements up to the year 2019 for its gas stations. The long-term RLNG supply agreement with GAIL is valid till 2019and the term sheet for non-APM gas with GAIL is valid till 2016. Further, out of 4.46 MMSCMD of KG-D6 gas allocated by Government of India for NCR gas stations, viz. Anta, Auraiya, Dadri and Faridabad, 2.30 MMSCMD has already been tied up. The tie-up of balance 2.16 MMSCMD KG D6 gas is under discussions. However, the gas supplies from KG D6 fields have been continuously decreasing. As per Empowered Group of Minister/ MOPandNG directive to supply KG D6 gas as per sectoral priority basis, the supplies to Power Sector (including NTPC stations) have reduced to Nil from March 2013.
The Company has been making arrangements for tie-up and supply of spot RLNG or Fallback RLNG from domestic suppliers on reasonable endeavour basis based on requirement and availability from time to time.
BUSINESS EXCELLENCE:
GLOBAL BENCHMARKING
In pursuit of actualizing their vision and with a view to achieve higher levels of excellence, the Company has developed and adopted its own NTPC Business Excellence Model on the lines of globally reputed Excellence Models such as Malcom Baldrige Model, USA and EFQM Model of Europe.
This model has been deployed at their Business Units (Stations) and they carry out assessment of generating stations using this framework of excellence.
The assessment process is aimed at identifying the areas for enhancing stakeholder engagement, accelerating critical processes and developing leadership potential. The outcomes of this model are organizational strengths, opportunities for improvement, issues of concern and best practices.
In the financial year 2012-13, the 3rd cycle of assessment was completed. The stations ranking high on excellence level like Korba, Talcher-Thermal and Faridabad were awarded by Honourable Union Minister of State (l/c) for Power.
As a next step on the Journey of Excellence, the Company is implementing Business Balanced Scorecard capturing proper matrices to enhance overall strategic focus and speed.
Other TQM initiatives and techniques like Quality Circles, Professional Circles, 5S, integrated management system (IMS) etc have been deployed across the organization for continuous improvement. Their Quality Circle teams of workmen have been consistently representing NTPC at national and international Quality Circle conventions and bringing many laurels. In the year 2012-13, Prayas Quality Circle team from Talcher-Thermal bagged Gold award at the International Quality Control Circles Convention held at Kualalumpur, Malaysia.
AWARDS:
The Company received FICCI Appreciation Plaque for 2011-12, Golden Peacock Award for CSR, 2012 and Greentech Award for CSR 2012.
NTPC FOUNDATION
NTPC Foundation is engaged in serving and empowering the physically challenged and economically weaker sections of the society.
Initiatives undertaken by the Company are covered under Annex-VII to this Report.
Distributed Generation Power Projects
The Company has signed MoU with Swiss Agency for Development and Cooperation for planning and implementing Renewable Energy and Distribution Generation projects. The main focus is on technologies like bio-mass gasification including two stage gasifier, small hydro and solar energy and sustainability of DG projects.
MANAGEMENT DISCUSSION
AND ANALYSIS
TRANSMISSION AND DISTRIBUTION
Transmission
The large expansion in generation and consumption of electricity has to be supported by a significant expansion and strengthening of the transmission network. The transmission systems that are in place in the country consist of Inter-State Transmission System CISTS) and Intra-State Transmission System (Intra-STS). ISTS is mainly owned and operated by Power Grid Corporation of India Limited which is also Central Transmission Utility.
The power system in the country is demarcated into five regions. Four regional grids have been operating in synchronous mode as a single system for the past few years. Only the southern grid is yet to be connected to the rest of the system. The high voltage Raichur-Sholapur 765 KV line to connect southern grid is under construction and expected to be commissioned during the financial year2013-14.
Transmission lines in the country upto March 2013 are 274588 ckm and Sub Stations are473216 MVA. A total of about 107440 ckm of transmission lines; 270000 MVA of AC transformer capacity and 12750 MW of HVDC systems are expected to be added during the XII plan.
The total capacity to transfer power across regions at the end of the XI plan was about27750 MW and this is expected to increase by 136 % to 65550 MW by the end of XII plan.
The proposed rapid expansion of the capacity to transmission capacity can be met if some serious challenges, viz. right of way, flexibility in line loading and regulation of power and improvement of operational efficiency are adequately dealt with.
Renewable Energy Sources (RES)
All over the world, investment in renewable energy sources has been increasing. India has been a late entrant into the field of renewable energy, but it is beginning to make rapid strides in this sector.
Some of the key issues facing renewable power generation are:
1. Regional concentration of renewable energy potential
2. Insufficiency and high cost of evacuation infrastructure
3. Renewable power, especially solar, is significantly costlier than conventional power
Out of a target of 4 GW RES capacity addition under Grid Interactive Power, 3 GW hasbeen actually deployed during the financial year 2012-13. Cumulative achievement of RESupto 31.03.2013 is approximately 28 GW.
Draft 12th plan, in line with projections of Ministry of New and Renewable Energy, plans -30 GW for capacity addition of grid-interactive renewable power during the XII plan.
An important initiative by Government to boost RES is introduction of Renewable Energy Certificate Scheme (REC). REC enables distribution companies, captive plants and open access consumers to fulfil their Renewable Purchase Obligations. While renewable generators can receive additional revenue, buyers are able to meet obligations without investing into generating capacities. The REC trading in India is picking up gradually. Several other initiatives by government include establishment of National Institute of Solar Energy, National Bio-Energy Corporation of India, Renewable Energy Development Fund etc.
COMPANY OVERVIEW
NTPC LEADERSHIP POSITION IN INDIAN POWER SECTOR
The company is the undisputed leader in Indian power sector, with approximately 18.44%of total installed capacity of the country as on 31.03.2013, the Company contributes to around 27.37% of the country's generation during the financial year 2012-13.
The Company is ranked 1st in Asia among global electric utilities as per Forbes Global 2000 ranking published in the year 2013. It is also ranked as 384thlargest company in the world in the Forbes Global, 2013 rankings. The Company is also ranked no.1 Independent Power Producer and Energy Trader globally in the Platte Top 250Global energy company rankings -2012.
The Company aspires to be the world's largest and best power producer, with a mission to develop and provide reliable power, related products and services at competitive prices, integrating multiple energy sources with innovative and eco-friendly technologies and contribute to society.
PART I: STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST
MARCH, 2014
(Rs. In Millions)
|
Sl. No. |
Particulars |
Standalone |
||
|
Quarter ended
31.03.2014 (Unaudited) |
Quarter ended
31.12.2013 (Unaudited) |
Year ended
31.03.2014 (Audited) |
||
|
1 |
Income from operations |
|
|
|
|
|
(a) Net sales (net of electricity duty) |
209380.800 |
187793.900 |
716026.300 |
|
|
(b) Other operating income |
1007.500 |
257.300 |
4163.000 |
|
|
Total income from operations (net) |
210388.300 |
188051.200 |
720189.300 |
|
2 |
Expenses |
|
|
|
|
|
(a) Fuel cost |
144341.100 |
118305.200 |
458297.100 |
|
|
(b) Employee benefits expense |
8946.500 |
11796.500 |
38679.900 |
|
|
(c) Depreciation and amortisation expense |
12076.400 |
10242.800 |
41421.900 |
|
|
(d) Other expenses |
11675.200 |
11711.500 |
45566.900 |
|
|
Total expenses |
177039.200 |
152056.000 |
583965.800 |
|
3 |
Profit from operations before other income, finance costs and
exceptional items (1-2) |
33349.100 |
36315.300 |
136223.500 |
|
4 |
Other income |
5990.400 |
7489.500 |
26888.900 |
|
5 |
Profit from ordinary activities before finance costs and exceptional
items (3+4) |
39339.500 |
43804.800 |
163112.400 |
|
6 |
Finance costs |
5676.900 |
6010.300 |
24065.900 |
|
7 |
Profit from ordinary activities after finance costs but before
exceptional items (5-6) |
33662.600 |
37794.500 |
139046.500 |
|
8 |
Exceptional items |
-- |
-- |
-- |
|
9 |
Profit from ordinary activities before tax (7+8) |
33662.600 |
37794.500 |
139046.500 |
|
10 |
Tax Expense: |
|
|
|
|
|
(a) Current tax |
3329.500 |
8537.500 |
27936.000 |
|
|
(b) Deferred tax |
(602.300) |
644.200 |
1363.100 |
|
|
Total tax expense (a+b) |
2727.200 |
9181.700 |
29299.100 |
|
11 |
Net profit from ordinary activities after tax (9-10) |
30935.400 |
28612.800 |
109747.400 |
|
12 |
Extraordinary items (net of tax expense) |
-- |
-- |
-- |
|
13 |
Net profit for the period (11-12) |
30935.400 |
28612.800 |
109747.400 |
|
14 |
Share of profit/ (loss) of associates |
-- |
-- |
-- |
|
15 |
Minority Interest |
-- |
-- |
-- |
|
16 |
Net profit after taxes, minority interest and share of profit of
associates (13+14+15) |
30935.400 |
28612.800 |
109747.400 |
|
17 |
Paid-up equity share capital (Face value of share Rs. 10/- each) |
82454.600 |
82454.600 |
82454.600 |
|
18 |
Paid-up debt capital |
-- |
-- |
-- |
|
19 |
Reserves exluding revaluation reserve as per
balance sheet |
-- |
-- |
-- |
|
20 |
Debenture redemption reserve |
-- |
-- |
27649.100 |
|
21 (i) |
Earnings per
share (before extraordinary items) - (of Rs.10/-
each) (not annualised) (in Rs.): |
|
|
|
|
|
(a) Basic |
3.75 |
3.47 |
13.31 |
|
|
(b) Diluted |
3.75 |
3.47 |
13.31 |
|
21(ii) |
Earnings per
share (after extraordinary items) - (of Rs.10/-
each) (not annualised) (in Rs.): |
|
|
|
|
|
(a) Basic |
3.75 |
3.47 |
13.31 |
|
|
(b) Diluted |
3.75 |
3.47 |
13.31 |
|
22 |
Debt equity ratio |
|
|
0.78 |
|
23 |
Debt service coverage ratio |
|
|
2.77 |
|
24 |
Interest service coverage ratio (ISCR) |
|
|
8.62 |
PART II : Select Information for the Quarter and Nine-Months
ended 31st December 2013
|
Sl. No. |
Particulars |
Standalone |
||
|
Quarter ended
31.03.2014 (Unaudited) |
Quarter ended
31.12.2013 (Unaudited) |
Year ended
31.03.2014 (Audited) |
||
|
A |
PARTICULARS OF SHAREHOLDING |
|
|
|
|
1 |
Public shareholding |
|
|
|
|
|
- Number of shares |
2061366100 |
2061366100 |
2061366100 |
|
|
- Percentage of shareholding |
25.00 |
25.00 |
25.00 |
|
2 |
Promoters and promoter group shareholding |
|
|
|
|
|
(a) Pledged/encumbered |
|
|
|
|
|
- Number of shares |
-- |
-- |
-- |
|
|
- Percentage of shares (as a % of the total
shareholding of promoter and promoter group) |
-- |
-- |
-- |
|
|
- Percentage of shares (as a % of the
total share capital of the company) |
-- |
-- |
-- |
|
|
(b) Non-encumbered |
|
|
|
|
|
- Number of shares |
6184098300 |
6184098300 |
6184098300 |
|
|
- Percentage of shares (as a % of the
total shareholding of promoter and promoter group) |
100.00 |
100.00 |
100.00 |
|
|
- Percentage of shares (as a % of the
total share capital of the company) |
75.00 |
75.00 |
75.00 |
|
|
Particulars |
Quarter ended
31.03.2014 |
|
B |
INVESTOR
COMPLAINTS (Nos.) |
|
|
|
Pending at the beginning of the quarter |
3 |
|
|
Received during the quarter |
2486 |
|
|
Disposed of during the quarter |
2477 |
|
|
Remaining unresolved at the end of the
quarter |
12 |
STATEMENT OF ASSETS AND LIABILITIES
|
Sl.No. |
Particulars |
Standalone |
|
As at 31.03.2014
(Audited) |
||
|
A |
EQUITY AND LIABILITIES |
|
|
1 |
Shareholders' funds |
|
|
|
(a) Share capital |
82454.600 |
|
|
(b) Reserves and surplus |
775698.600 |
|
|
Sub-total - Shareholders'
funds |
858153.200 |
|
2 |
Deferred revenue |
|
|
3 |
Ash utilisation
fund |
-- |
|
4 |
Minority interest |
-- |
|
5 |
Non-current liabilities |
|
|
|
(a) Long-term borrowings |
624057.500 |
|
|
(b) Deferred tax liabilities (net) |
10516.100 |
|
|
(c) Other long-term liabilities |
25124.600 |
|
|
(d) Long-term provisions |
8793.600 |
|
|
Sub-total - Non-current
liabilities |
668491.800 |
|
6 |
Current liabilities |
|
|
|
(a) Short-term borrowings |
-- |
|
|
(b) Trade payables |
66333.400 |
|
|
(c) Other current liabilities |
113438.600 |
|
|
(d) Short-term provisions |
73026.000 |
|
|
Sub-total - Current
liabilities |
252798.000 |
|
|
TOTAL - EQUITY AND
LIABILITIES |
1795541.800 |
|
B |
ASSETS |
|
|
1 |
Non-current assets |
|
|
|
(a) Fixed assets (including capital
work-in-progress) |
1169995.000 |
|
|
(b) Goodwill on consolidation |
-- |
|
|
(c) Non-current investments |
81209.000 |
|
|
(d) Long-term loans and advances |
127762.200 |
|
|
(e) Other non-current assets |
17867.700 |
|
|
Sub-total - Non-current
assets |
1396833.900 |
|
2 |
Current assets |
|
|
|
(a) Current investments |
16369.600 |
|
|
(b) Inventories |
53733.500 |
|
|
(c) Trade receivables |
52200.800 |
|
|
(d) Cash and bank balances |
153113.700 |
|
|
(e) Short-term loans and advances |
31170.800 |
|
|
(f) Other current assets |
92119.500 |
|
|
Sub-total - Current
assets |
398707.900 |
|
|
TOTAL - ASSETS |
1795541.800 |
SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER AND
NINE-MONTHS ENDED 31ST DECEMBER 2013
(Rs in Millions)
|
Sl. |
Particulars |
Quarter ended
31.03.2014 (Unaudited) |
Quarter ended
31.12.2013 (Unaudited) |
Year ended
31.03.2014 (Audited) |
|
1 |
Segment revenue |
|
|
|
|
|
- Generation |
210940.100 |
189154.800 |
722402.600 |
|
|
- Others |
277.600 |
359.100 |
1150.700 |
|
|
Total |
211217.700 |
189513.900 |
723553.300 |
|
2 |
Segment results
(Profit before tax and interest) |
|
|
|
|
|
- Generation |
36887.300 |
40202.100 |
149748.000 |
|
|
- Others |
80.700 |
102.100 |
162.300 |
|
|
Total |
36968.000 |
40304.200 |
149910.300 |
|
|
Less: |
|
|
|
|
|
(i) Unallocated
interest and finance charges |
5676.900 |
6010.300 |
24065.900 |
|
|
(ii) Other unallocable expenditure net of unallocable income |
(2371.500) |
(3500.600) |
(13202.100) |
|
|
Profit before
tax |
33662.600 |
37794.500 |
139046.500 |
|
3 |
Capital employed
(Segment assets - Segment liabilities) |
|
|
|
|
|
- Generation |
820281.00 |
721621.800 |
820281.000 |
|
|
- Others |
9025.400 |
1858.900 |
9025.400 |
|
|
- Un-allocated |
28846.800 |
159206.300 |
28846.800 |
|
|
Total |
858153.200 |
882687.000 |
858153.200 |
The operations of the company are mainly carried out within the country and therefore, geographical segments are not applicable.
CONTINGENT
LIABILITIES (AS ON 31.03.2013):
a) Claims against the company not acknowledged as debts in respect of:
(i) Capital Works
Some of the contractors for supply and installation of equipments and execution of works at our projects have lodged claims on the Company for Rs. 39661.100 Millions (previous year Rs. 44272.700 Millions) seeking enhancement of the contract price, revision of work schedule with price escalation, compensation for the extended period of work, idle charges etc. These claims are being contested by the Company as being not admissible in terms of the provisions of the respective contracts.
The Company is pursuing various options under the dispute resolution mechanism available in the contracts for settlement of these claims. It is not practicable to make a realistic estimate of the outflow of resources if any, for settlement of such claims pending resolution.
(ii) Land compensation cases
In respect of land acquired for the projects, the land losers have claimed higher compensation before various authorities/courts which are yet to be settled. In such cases, contingent liability of Rs. 7475.400 Millions (previous year Rs. 1,1735.800 Millions) has been estimated.
(iii) Fuel Suppliers
Pending resolution of the issues with coal companies as disclosed in Note 33, payments and accounting of coal are being made based on GCV ascertained at station end. The difference between the amount billed by the coal companies and the payment released by the company amounts to Rs. 25311.000 Millions (previous year Rs. Nil).
Further, an amount of Rs. 3677.300 Millions (previous year Rs. 4006.300 Millions) towards surface transportation charges, customs duty on service margin on imported coal etc. has been disputed by the Company.
(iv) Others
In respect of claims made by various State/Central Government departments/Authorities towards building permission fee, penalty on diversion of agricultural land to non-agricultural use, nala tax, water royalty etc. and by others, contingent liability of Rs. 8628.100 Millions (previous year Rs. 8774.700 Millions) has been estimated.
(v) Possible Reimbursement
The contingent liabilities referred to in (i) above, include an amount of Rs. 9612.400 Millions (previous year Rs. 17697.000 Millions) relating to the hydro power project stated in Note 21 b) - Other current assets, for which Company envisages possible reimbursement from GOI in full. In respect of balance claims included in (i) and in respect of the claims mentioned at (ii) above, payments, if any, by the company on settlement of the claims would be eligible for inclusion in the capital cost for the purpose of determination of tariff as per CERC Regulations subject to prudence check by the CERC. In case of (iii), the estimated possible reimbursement is by way of recovery through tariff as per Regulations, 2009 is Rs. 27920.600 Millions (previous year Rs. 2834.500 Millions).
b) Disputed Income Tax/Sales Tax/Excise Matters
Disputed Income Tax/Sales Tax/Excise matters pending before various Appellate Authorities amount to Rs. 1,5476.100 Millions (previous year Rs. 3,0386.300 Millions). Many of these matters were disposed off in favour of the Company but are disputed before higher authorities by the concerned departments. In such cases, the company estimate possible reimbursement of Rs. 3651.900 Millions (previous year Rs. 21115.400 Millions).
c) Others
Other contingent liabilities amount to Rs. 2522.000 Millions (previous year Rs. 3169.300 Millions).
Some of the beneficiaries have filed appeals against the tariff orders of the CERC. The amount of contingent liability in this regard is not ascertainable.
FIXED ASSETS
Tangible Assets
Land
Building
Temporary
Erection
Water
supply, Drainage and Sewerage System
MGR
track and Signalling System
Railway
siding
Earth
dam Reservoir
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Office
Equipment
EDP,
WP Machines and Sitcom Equipment
Construction
Equipments
Electrical
Installations
Communication
Equipments
Hospital
Equipments
Laboratory
and Workshop Equipments
Intangible Assets
Software
Right
of Use
CMT REPORT (Corruption, Money Laundering and 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.60.09 |
|
|
1 |
Rs.102.33 |
|
Euro |
1 |
Rs.82.01 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE and RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
9 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
75 |
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 and 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.