MIRA INFORM REPORT
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Report No. : |
314776 |
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Report Date : |
27.03.2015 |
IDENTIFICATION DETAILS
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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, Lodhi Road, New Delhi – 110003 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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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.] |
Not Available |
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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
: |
25013 (Approximately) |
RATING and COMMENTS
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MIRA’s Rating : |
Aa (75) |
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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 |
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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 fine 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 adequate liquidity position of the company. 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Long term rating = “AAA” |
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Rating Explanation |
High degree of safety and carry lowest
credit risk. |
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Date |
17.09.2014 |
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Rating Agency Name |
CRISIL |
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Rating |
Short term rating = “A1+” |
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Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
17.09.2014 |
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
31-03-2014.
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 Offices : |
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
Gautam Budh Nagar, Uttar Pradesh, India Consultancy Wing R&D Centre Building, 8A, Sector - 24, Noida – 201301, District Gautam Budh Nagar, Uttar Pradesh, India Centre for Power
Efficiency and Environment Protection (CENPEEP) NTPC R&D Centre Building, Sector-24, Noida – 201301, District Gautam Budh Nagar, Uttar Pradesh, India |
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Regional
Headquarters : |
Eastern Region Loknayak Jaiprakash Bhawan, 2nd floor Dak Bunglow Chowk Patna - 800001, Bihar, India National Capital
Region
Northern Region B-1 Block, Picup Bhawan, Vibhuti Khand Gomti Nagar,
Lucknow - 226001, Uttar Pradesh, India Southern Region 2nd and 5th Floor, M.C.H. Complex, R.P. Road, Secunderabad -500003, Andhra Pradesh, India Western Region Samruddhi Trade Centre 2nd Floor, MIDC, Marol Andheri
(East), Mumbai – 400093, Maharashtra, India |
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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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Solar Power
Stations : |
· 5MWp, Dadri Solar Power Plant, Dadri, District Gautum Budh Nagar, Uttar Pradesh, India ·
5MWp, Faridabad Solar Power Plant, District Faridabad,
Haryana, India |
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Eastern Region
(ER-HQ)- I: |
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Thermal
Power Stations : |
· Barh Super Thermal Power Project- Dist. Patna, Bihar, Uttar Pradesh, India · Farakka Super Thermal Power Station – Dist. Murshidabad, West Bengal, India · Kahalgaon Super Thermal Power Project- Dist. 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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Solar Power Station
: |
10MWp Talcher Kaniha Solar Power Station,
District Angul, 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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Solar Power Station
: |
10MWp Unchahar PV Solar Power Station, District
Raebareli, Uttar Pradesh, India |
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Southern Region
(SR-HQ) : |
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Thermal
Power Stations : |
· Ramagundam Super Thermal Power Station, 4th Floor, Administrative Building, Distt. Karim Nagar - 505215, 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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Solar Power Station
: |
· 5 MWp Solar PV Power Plant, Port Blair, A&N Islands ·
10MWp Ramagundam Solar Power Station, District
Karimnagar, Andhra Pradesh, India |
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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 |
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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 |
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Solar Power Station
: |
50 MWp Solar PV Power Plant, Rajgarh, Madhya Pradesh |
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Hydro Power
Projects : |
· Koldam Hydro Power Project – District Bilaspur, Himachal Pradesh, India · Tapovan–Vishnugad Hydro Power Project – District Chamoli, Uttarakhand, India · Lata Tapovan Hydro Power Projects – District Chamoli, Uttarakhand, India |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Dr. Arup Roy Choudhury |
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Designation : |
Chairman and
Managing Director |
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Date of Birth/Age : |
58 Years |
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DIN No.: |
00659908 |
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Name : |
Mr. I.J. Kapoor |
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Designation : |
Director (Commercial) |
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Date of Birth/Age : |
05.10.1956 |
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Qualification : |
Graduate in
Mechanical Engineering and MBA (Marketing) |
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Expertise in specific functional area : |
He joined NTPC
in 1978 as 3rd batch Engineering Executive Trainee (EET) and is the
first EET to be on the Board of the Company. He has a rich and varied
experience of over 35 years in the areas of Commercial, Engineering,
Contracts and Materials Management, Project Management, Consultancy, Cost
Engineering, Station Engineering and Quality Assurance and Inspection. He is
a Fellow of Institution of Engineers, India and Senior Member, IEEE, USA. |
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Date of Appointment : |
26.12.2008 |
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DIN No.: |
02051043 |
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Other Directorship : |
1. Aravali Power
Company Private Limited Part-time Director 1. PTC (India)
Limited 2. NTPC Vidyut
Vyapar Nigam Limited 3. Meja Urja
Nigam Private Limited 4. NTPC BHEL
Power Projects Private Limited 5. Trincomalee
Power Company Limited 6. Bangladesh-
India Friendship Power Company Private limited |
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Name : |
Mr. N.N. Misra |
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Designation : |
Director (Operations) |
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Date of Birth/Age : |
60 Years |
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DIN No.: |
00575501 |
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Name : |
Mr. A.K. Jha |
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Designation : |
Director (Technical) |
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Date of Birth/Age : |
57 Years |
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DIN No.: |
03590871 |
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Name : |
Mr. U.P. Pani |
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Designation : |
Director (Human
Resources) |
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Date of Birth/Age : |
58 Years |
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DIN No.: |
03199828 |
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Name : |
Mr. S.C. Pandey |
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Designation : |
Director (Projects) |
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Date of Birth/Age : |
20.08.1957 |
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Qualification : |
B.E. in Instrumentation |
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Expertise in specific functional area : |
He joined NTPC
as Executive Trainee in 1978. He brings with him about 34 years rich
experience and exposure to areas of engineering, project construction and
operations of power plants. He has strong background in managing operating
and maintaining some of the largest power stations of the country. |
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Date of Appointment : |
01.10.2013 |
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DIN No.: |
03142319 |
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Other Directorship : |
1. Bhartiya Rail
Bijlee Company Limited Part-time Director 1. BF-NTPC
Energy Systems Limited 2. International
Coal Ventures Limited 3. Pan-Asian
Renewables Private Limited |
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Name : |
Mr. Kulamani Biswal |
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Designation : |
Director (Finance) |
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Date of Birth/Age : |
09.04.1961 |
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Qualification : |
Fellow member of
the Institute of Cost Accountants of India, LL.B and MBA from New Port
University, California, USA |
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Expertise in specific functional area : |
He has rich experience
of 28 years both in coal and power sector. He was Director (Finance) in
Mahanadi Coalfields Limited (MCL) since October 2010 managing finance,
accounting and corporate governance functions of the Company. He played a
pivotal role in making MCL as second largest coal company in India in terms
of production and profitability. He was Chief (Finance) at Central
Electricity Regulatory Commission and contributed to drafting of various
regulations and policies for smooth functioning of the power sector from year
2004 to 2010. |
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Date of Appointment : |
09.12.2013 |
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DIN No.: |
03318539 |
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Other Directorship : |
1. Meja Urja
Nigam Private Limited 2. NTPC Electric
Supply Company Limited |
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Name : |
Dr. Pradeep Kumar |
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Designation : |
Govt. Nominee Director |
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Date of Birth/Age : |
01.01.1961 |
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Qualification : |
B. Tech,
Electronics, MBA, Master Diploma in Public Administration and Governance and
M. Phil in Social Sciences |
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Expertise in specific functional area : |
He has more than
26 years of experience as IAS officer. He held various administrative
positions in the areas of Revenue, Finance, Transport, Shipping, Inland Water
Transportation, Water Resources, Irrigation, Food and Civil Supplies,
Consumer Affairs, Environment and Forests. Prior to joining as Joint
Secretary and Financial Adviser, Ministry of Power, he was Principal
Secretary, Environment and Forest Department, Government of Kerala. |
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Date of Appointment : |
10.09.2013 |
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DIN No.: |
05125269 |
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Other Directorship : |
1. Power Grid
Corporation of India Limited |
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Name : |
Mr. S. B. Ghosh Dastidar |
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Designation : |
Independent Director |
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Date of Birth/Age : |
67 Years |
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DIN No.: |
00145886 |
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Name : |
Mr. Rajib Sekhar Sahoo |
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Designation : |
Independent Director |
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Date of Birth/Age : |
52 Years |
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DIN No.: |
02708503 |
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|
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Name : |
Mr. Ajit M. Nimbalkar |
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Designation : |
Independent Director |
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Date of Birth/Age : |
70 Years |
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DIN No.: |
02749940 |
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|
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Name : |
Mr. S.R. Upadhyay |
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Designation : |
Independent Director |
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Date of Birth/Age : |
64 Years |
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DIN No.: |
00841288 |
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Name : |
Ms. Homai A. Daruwalla |
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Designation : |
Independent Director |
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Date of Birth/Age : |
66 Years |
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DIN No.: |
00365880 |
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|
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Name : |
Mr. Anol Nath Chatterji |
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Designation : |
Independent Director |
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Date of Birth/Age : |
64 Years |
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DIN No.: |
05219334 |
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Name : |
Prof. Sushil Khanna |
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Designation : |
Independent Director |
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Date of Birth/Age : |
63 Years |
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DIN No.: |
00115364 |
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|
|
|
Name : |
Dr. Alwyn Didar Singh |
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Designation : |
Independent Director |
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Date of Birth/Age : |
63 Years |
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DIN No.: |
00275577 |
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|
|
|
Name : |
Mr. Prashant Mehta |
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Designation : |
Independent Director |
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Date of Birth/Age : |
63 Years |
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DIN No.: |
02284299 |
KEY EXECUTIVES
|
Name : |
Mr. A. K. Rastogi |
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Designation : |
Company Secretary |
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Name : |
Mr. M.R.P. Rao |
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Designation : |
Chief Vigilance Officer |
SHAREHOLDING PATTERN
AS ON 31.12.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter
and Promoter Group |
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|
6180614980 |
74.96 |
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|
6180614980 |
74.96 |
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Total
shareholding of Promoter and Promoter Group (A) |
6180614980 |
74.96 |
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(B)
Public Shareholding |
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|
|
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|
51387036 |
0.62 |
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|
884978914 |
10.73 |
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|
60880705 |
0.74 |
|
|
859230613 |
10.42 |
|
|
1856477268 |
22.52 |
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|
26666961 |
0.32 |
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Individual shareholders
holding nominal share capital up to Rs.0.100 Million |
151366733 |
1.84 |
|
Individual shareholders
holding nominal share capital in excess of Rs.0.100 Million |
17262646 |
0.21 |
|
|
13075812 |
0.16 |
|
|
5119119 |
0.06 |
|
|
6381255 |
0.08 |
|
|
1500 |
0.00 |
|
|
2690 |
0.00 |
|
|
22230 |
0.00 |
|
|
1549018 |
0.02 |
|
|
208372152 |
2.53 |
|
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. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
25013 (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 · 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 ·
HDFC Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institutions : |
· IL and FS Trust Company Limited IL and FS Financial Centreplot No C22G Block Bandra, Kurla Complex
Bandra East, Mumbai - 400051, Maharashtra, India · IDBI Trusteeship Services Limited Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai - 400001, Maharashtra, India |
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Auditors : |
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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 |
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Subsidiaries : |
· NTPC Electric Supply Company Limited · NTPC Vidyut Vyapar Nigam Limited · Kanti Bijlee Utpadan Nigam Limited · Bhartiya Rail Bijlee Company Limited |
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Joint Venture : |
· Utility Powertech Limited · NTPC-Alstom Power Services Private Limited · BF-NTPC Energy Systems Limited · National Power Exchange Limited · Pan-Asian Renewables Private Limited · Trincomalee Power Company Limited · Bangladesh-India Friendship Power Company Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000000 |
Equity Shares |
Rs.10/- each |
Rs. 100000.000 Millions |
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|
|
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Issued, Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8245464400 |
Equity Shares |
Rs.10/- each |
Rs. 82454.600 Millions |
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|
|
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|
a) During the year, the Company has not issued or bought back any shares.
b) The Company has only one class of equity shares having a par value Rs.10/- per share. The holders of the equity shares are entitled to receive dividends as declared from time to time and are entitled to voting rights proportionate to their shareholding at the meetings of shareholders.
c) During the year ended 31st March 2014, the amount of per share dividend recognised as distribution to equity shareholders is Rs.5.75 (previous year Rs.4.50 and special dividend of Rs.1.25).
d) Details of shareholders holding more than 5% shares in the Company:
|
Name of
Shareholders |
Number
of Shares |
% holding |
|
- President of India |
618,40,98,300 |
75.00 |
|
- Life Insurance Corporation of India |
70,67,78,072 |
8.57 |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
82454.600 |
82454.600 |
82454.600 |
|
(b) Reserves and Surplus |
775698.600 |
721420.500 |
650457.100 |
|
(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 |
16098.800 |
12440.500 |
14300.600 |
|
Total
Shareholders’ Funds (1) + (2) |
874252.000 |
816315.600 |
747212.300 |
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|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
624057.500 |
532536.600 |
459082.700 |
|
(b) Deferred tax liabilities (Net) |
10516.100 |
9153.000 |
6369.000 |
|
(c) Other long term
liabilities |
25124.600 |
19698.400 |
17290.600 |
|
(d) long-term
provisions |
8793.600 |
7399.200 |
6037.000 |
|
Total Non-current
Liabilities (3) |
668491.800 |
568787.200 |
488779.300 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
66333.400 |
51323.900 |
44606.500 |
|
(c) Other
current liabilities |
113438.600 |
104692.500 |
95372.400 |
|
(d) Short-term
provisions |
73026.000 |
70045.400 |
32336.900 |
|
Total Current
Liabilities (4) |
252798.000 |
226061.800 |
172315.800 |
|
|
|
|
|
|
TOTAL |
1795541.800 |
1611164.600 |
1408307.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
718658.600 |
626874.200 |
450444.700 |
|
(ii)
Intangible Assets |
2449.700 |
2486.800 |
2118.900 |
|
(iii)
Capital work-in-progress |
448867.400 |
371094.200 |
418278.200 |
|
(iv)
Intangible assets under development |
19.300 |
0.000 |
0.400 |
|
(b) Non-current Investments |
81209.000 |
91376.400 |
95839.200 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
127762.200 |
96334.100 |
53943.500 |
|
(e) Other
Non-current assets |
17867.700 |
14911.900 |
13718.800 |
|
Total Non-Current
Assets |
1396833.900 |
1203077.600 |
1034343.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
16369.600 |
16224.600 |
16224.600 |
|
(b)
Inventories |
53733.500 |
40571.900 |
37028.500 |
|
(c) Trade
receivables |
52200.800 |
53650.000 |
58325.100 |
|
(d) Cash and
cash equivalents |
153113.700 |
168677.000 |
161418.300 |
|
(e)
Short-term loans and advances |
31170.800 |
17455.700 |
15433.200 |
|
(f) Other
current assets |
92119.500 |
111507.800 |
85534.000 |
|
Total
Current Assets |
398707.900 |
408087.000 |
373963.700 |
|
|
|
|
|
|
TOTAL |
1795541.800 |
1611164.600 |
1408307.400 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations [Net] |
720189.300 |
657370.400 |
620522.300 |
|
|
|
Other Income |
26888.900 |
31187.700 |
27896.500 |
|
|
|
TOTAL (A) |
747078.200 |
688558.100 |
648418.800 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Fuel |
458297.100 |
410182.500 |
416354.600 |
|
|
|
Employees benefits expense |
38679.900 |
34159.600 |
31017.100 |
|
|
|
Generation, administration and other expenses |
45438.500 |
42356.800 |
35887.900 |
|
|
|
Prior Period Items [Net] |
128.400 |
(297.200) |
(3135.800) |
|
|
|
Exceptional Items |
0.000 |
(16841.100) |
0.000 |
|
|
|
TOTAL (B) |
542543.900 |
469560.600 |
480123.800 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
204534.300 |
218997.500 |
168295.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
24065.900 |
19243.600 |
17116.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
180468.400 |
199753.900 |
151178.600 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
41421.900 |
33967.600 |
27917.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
139046.500 |
165786.300 |
123261.600 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
29299.100 |
39592.400 |
31024.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
109747.400 |
126193.900 |
92237.300 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Professional and Consultancy fee |
30.800 |
21.500 |
24.800 |
|
|
|
Other Earnings |
0.500 |
1.000 |
2.800 |
|
|
TOTAL EARNINGS |
31.300 |
22.500 |
27.600 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
24721.400 |
10090.500 |
8803.400 |
|
|
|
Spare Parts |
1154.600 |
1244.400 |
1900.900 |
|
|
TOTAL IMPORTS |
25876.000 |
11334.900 |
10704.300 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
13.31 |
15.30 |
11.19 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2014 |
30.09.2014 |
31.12.2014 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
183367.500 |
167366.300 |
188580.900 |
|
Total Expenditure |
148181.200 |
134943.000 |
141983.700 |
|
PBIDT (Excl OI) |
35186.300 |
32423.300 |
46597.200 |
|
Other Income |
5483.900 |
5306.900 |
4812.800 |
|
Operating Profit |
40670.200 |
37730.200 |
51410.000 |
|
Interest |
6679.100 |
6674.100 |
7008.100 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
33991.100 |
31056.100 |
44401.900 |
|
Depreciation |
11154.700 |
11515.800 |
12534.100 |
|
Profit Before Tax |
22836.400 |
19540.300 |
31867.800 |
|
Tax |
824.400 |
(1176.000) |
1127.800 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
22012.000 |
20716.300 |
30740.000 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
22012.000 |
20716.300 |
30740.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
15.24 |
19.20 |
14.86 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
28.40 |
33.31 |
27.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
10.99 |
14.43 |
13.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.20 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.71 |
0.65 |
0.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.58 |
1.81 |
2.17 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
82454.600 |
82454.600 |
82454.600 |
|
Reserves & Surplus |
650457.100 |
721420.500 |
775698.600 |
|
Deferred Revenue |
14300.600 |
12440.500 |
16098.800 |
|
Net
worth |
747212.300 |
816315.600 |
874252.000 |
|
|
|
|
|
|
Long-term borrowings |
459082.700 |
532536.600 |
624057.500 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
459082.700 |
532536.600 |
624057.500 |
|
Debt/Equity ratio |
0.614 |
0.652 |
0.714 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
620522.300 |
657370.400 |
720189.300 |
|
|
|
5.938 |
9.556 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
620522.300 |
657370.400 |
720189.300 |
|
Profit |
92237.300 |
126193.900 |
109747.400 |
|
|
14.86% |
19.20% |
15.24% |
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 |
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 |
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 |
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 |
LITIGATION DETAILS
IN THE HIGH COURT OF DELHI AT NEW DELHI
O.M.P. 39/2015
BIL-BLA-GSCO(JV)..... Petitioner
Through: Mr.Manoj Chauhan, Mr.Dheeraj Mittal, Advs.
versus
NTPC LIMITED ..... Respondent
Through: Mr.Puneet Taneja, Adv.
CORAM:
HON'BLE MR. JUSTICE V. KAMESWAR RAO
O R D E R
04.03.2015
An adjournment slip has been circulated by the respondent, with no objection from the learned counsel for the petitioner.
Renotify on 16th April, 2015.
V. KAMESWAR RAO, J
MARCH 04, 2015/akb
$ 15
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10556588 |
13/03/2015 |
103,068,305,000.00 |
IL & FS
TRUST COMPANY LIMITED |
IL & FS
FINANCIAL CENTREPLOT NO C22G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI,
MAHARASHTRA |
C46560892 |
|
2 |
10536470 |
14/11/2014 |
40,000,000,000.00 |
IL & FS
TRUST COMPANY LIMITED |
IL & FS
FINANCIAL CENTREPLOT NO C22G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI,
MAHARASHTRA |
C34994095 |
|
3 |
10495600 |
03/05/2014 |
5,000,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
IL & FS
FINANCIAL CENTREPLOT NO C22G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI,
MAHARASHTRA |
C03722618 |
|
4 |
10501963 |
03/05/2014 |
7,500,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN BUILDING,
GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA -
400001, INDIA |
C03722915 |
|
5 |
10465479 |
10/12/2013 |
17,500,000,000.00 |
IL & FS
TRUST COMPANY LIMITED |
IL & FS
FINANCIAL CENTREPLOT NO C22G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI,
MAHARASHTRA |
B91335646 |
|
6 |
10429728 |
04/05/2013 |
5,000,000,000.00 |
IL & FS
TRUST COMPANY LIMITED |
IL & FS FINANCIAL
CENTREPLOT NO C22G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI,
MAHARASHTRA |
B74907619 |
|
7 |
10382985 |
15/10/2012 |
4,650,000,000.00 |
IL & FS
TRUST COMPANY LIMITED |
IL & FS FINANCIAL
CENTREPLOT NO C22G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI,
MAHARASHTRA |
B59981050 |
|
8 |
10367677 |
30/07/2012 |
5,750,000,000.00 |
IL & FS
TRUST COMPANY LIMITED |
IL & FS FINANCIAL
CENTREPLOT NO C22G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI,
MAHARASHTRA |
B44534576 |
|
9 |
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 |
|
10 |
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 |
|
11 |
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 |
|
12 |
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 |
|
13 |
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 |
|
14 |
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 |
|
15 |
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 |
|
16 |
10139748 |
29/01/2009 |
20,000,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN BLDG.,
GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI- 400001. MAHARASHTRA,
INDIA |
A55618680 |
|
17 |
10089840 |
27/02/2008 |
10,000,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN BLDG., GROUND
FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI- 400001. MAHARASHTRA, INDIA |
A33320375 |
|
18 |
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, INDIA |
A12399333 |
|
19 |
10000160 |
23/03/2006 |
10,000,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN BLDG., GROUND
FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI- 400001. MAHARASHTRA, INDIA |
A00055962 |
|
20 |
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 |
- |
|
21 |
90044130 |
28/04/2014 * |
500,000,000.00 |
IL & FS
TRUST COMPANY LIMITED |
IL & FS
FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST,
MUMBAI, MAHARASHTRA |
C12085999 |
|
22 |
90048988 |
20/01/2004 * |
1,500,000,000.00 |
IL & FS
TRUST COMPANY LIMITED |
IL AND FS FINANCIAL
CENTRE ; PLOT C - 22, BLOCK G; BANDRA-KURLA COMPLEX, MUMBAI, MAHARASHTRA -
400051, INDIA |
- |
|
23 |
90043638 |
28/04/2014 * |
15,000,000,000.00 |
IL & FS
TRUST COMPANY LIMITED |
IL & FS FINANCIAL
CENTREPLOT NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI,
MAHARASHTRA |
C12086468 |
|
24 |
90040356 |
08/10/2014 * |
50,000,000,000.00 |
STATE BANK OF
INDIA |
JAWAHAR VYAPAR
BHAWAN, 11TH & 12TH FLOOR, 1 TOLSTOY MARG, NEW DELHI, DELHI - 110001,
INDIA |
C30793236 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 Rs.
In Millions |
31.03.2013 Rs.
In Millions |
|
LONG TERM
BORROWINGS |
|
|
|
Foreign Currency
notes |
|
|
|
4.75% Fixed rate notes due for repayment on 3rd October 2022 |
30305.000 |
27455.000 |
|
Foreign Currency 5.625 % Fixed rate noted due for repayment on 14th July
2021 |
30305.000 |
27455.000 |
|
Foreign Currency 5.875 % Fixed rate notes due for repayment on 2nd March
2016 |
18183.000 |
16473.000 |
|
Term Loan - From
Banks |
|
|
|
Foreign Currency Loans |
62908.000 |
47667.000 |
|
Rupee Loans |
188763.200 |
138849.000 |
|
From Others |
|
|
|
Foreign Currency loan (guaranteed by GOI) |
24560.300 |
26040.900 |
|
Other foreign currency loans |
20268.800 |
18645.500 |
|
Rupee loans |
125030.400 |
130905.500 |
|
Deposits Fixed Deposits |
0.900 |
5.200 |
|
Bonds application money pending allotment |
0.000 |
2000.000 |
|
Long term maturities of finance lease obligations |
622.900 |
0.000 |
|
|
|
|
|
Total |
500947.5 |
435496.100 |
OPERATIONAL
PERFORMANCE
GENERATION:
During the year, the power stations of the Company generated 233.284 BUs
(248 BUs including JVs) of electricity (including solar power) which was 24.26%
(25.80% including that generation by JVs) of the total power generated in India
(without Bhutan import).
The total power generated by the Company has registered an increase of
0.54% over the previous years’ generation of 232.028 BUs. The total generation
contributed by coal stations is 220.700 BUs during the year against generation
of 212.329 BUs last year registering a growth of 3.94%.
Generation from coal based units could have been still higher but due to
less generation schedule there was generation loss of 23.083 BUs. The coal
based stations of the company operated at average Plant Load Factor (PLF) of
81.50% (All India PLF 65.55%) and average Availability Factor of 90.32% on bus
bar during the year. During the year, 4 coal based stations out of 16 achieved
more than 90% PLF.
The gas stations having a capacity of 4,017 MW achieved annual
generation of 12.569 BUs at a PLF of 35.72% as against 19.699 BUs last year
mainly due to less generation schedule which accounted for a generation loss of
20.652 BUs. The average declared capacity of gas based stations for the year
was 95.24% as compared to 93.14% during previous year.
MANAGEMENT
DISCUSSION AND ANALYSIS
LONG TERM OUTLOOK
The Indian power sector is at a stage that provides significant
opportunities for growth and investment. However the environment is
increasingly becoming challenging. There are many private small and mid- sized
generators with interest only in a few projects. In line with a typical
industry evolution, presence of large number of small to mid-sized operators
will accentuate the competitive intensity in the sector and also give
opportunities for inorganic growth and attract Foreign Direct Investments.
The anticipated Energy Requirement and Peak Demand for financial year
2014-15 is ~1048.67 BUs and ~147.82 GW respectively which is expected to
increase by ~3.5 times by financial year 2031-32 (Source: LGBR 2014-15 of CEA).
Long term demand outlook of electricity in India looks positive and
adequately sums up the huge unlocked potential of the sector.
COMPANY OVERVIEW
The Company’s achievements have been recognized globally. NTPC is the
No. 1 Independent Power Producer and Energy Trader Globally as per Platt Top
250 rankings 2013. As per Forbes Global 2000 rankings (Year 2014), they are No.
2 and No.16 among the Asian and global electric utilities respectively and No.
424 amongst the World’s biggest public companies (Source: Website Platts and
Forbes). The Company is the largest power generating company in India with a
substantial share in the country’s capacity and generation.
The Company has ambitious capacity plans. It intends to increase its
capacity to 128 GW by 2032.
OPERATIONAL
PERFORMANCE
The operating performance of the Company has been considerably above the
national average. During the financial year 2013-14, the Company (NTPC Group)
has generated ~26% of the country’s total power generation with an installed
capacity of ~18% of the nation’s total installed capacity. Over the years, the
Company has consistently operated at much higher operating efficiency as
compared to All India operating performance. In order to sustain the impressive
operational efficiency levels, the Company’s strategy includes:
· Installation of on-line system such as Thermal Loss Analyzer (TLA) and System Energy Efficiency Display (SEED) for tracking and gap analysis of Heat Rates and Auxiliary Power consumption.
· With the aim of improving system wide reliability, reducing maintenance costs and outages, SACS (Special Analytics and Computational Services) Centre has been established at its Engineering Office in Noida. It provides early warning of slowly evolving equipment problems to the remotely located plant personnel using state of the art technologies.
· Use of tools like IDAAS (Integrated Data Acquisition and Analysis System) for on-site efficiency evaluation and mathmodeling tools like PEPSE (Performance Evaluation of Power System Efficiencies) for verifying equipment and system efficiencies, Steam path audit for estimation of solid particle erosion and efficiency of steam turbine components etc.
· Enhancing quality of Plant Overhauls to target zero forced outage by design.
· Implementation of Overhauling Performance Index for systematic and advanced planning of overhauls.
· Creation of peer group knowledge teams for each equipment to harmonize the best practices at enterprise level.
· Use of a comprehensive Performance Evaluation Matrix (PEM) for relative evaluation of the performance of various power plants over a set of comprehensive performance indicators to create an environment of in-house challenge and competition.
· Use of Process Interface (PI) System and PI System based applications for real time effi ciency and loss calculations for ensuring early actions to minimize station losses.
PROJECT MANAGEMENT
The Company has adopted an integrated system for the planning,
scheduling, monitoring and control of approved projects under implementation.
To coordinate and synchronise all the support functions of Project Management
it relies on a three-tiered project management system known as the Integrated Project
Management Control System (IPMCS) which integrates its engineering management,
contract management and construction management control centers. The IPMCS
addresses all stages of project implementation from concept to commissioning.
Needless to say, that the identification of critical issues and their
timely resolution is crucial for faster project implementation. To achieve
this, the Company has established a state-of-the-art IT enabled Project
Monitoring Centre (PMC) for facilitating fast track project implementation. The
PMC facilitates monitoring of key project milestones and also acts as Decision
Support System for the management. PMC is integrated enterprise-wide as a web
based collaborative system to facilitate consolidation of project related issues
and its resolution. Features like SMS based information delivery, real time
video capture, storage and retrieval facility and video conference facility are
extensively utilized for project tracking, issues resolution and management
interventions on a regular basis.
The Company has realised that there is a need to have an ERP platform
which shall integrate all functions responsible directly or indirectly with
project implementation and act as a tool to identify critical issues and
continuously address them during project implementation phase itself. To
achieve this, the Company has set up an integrated ERP platform for monitoring
and controlling of critical project activities spread across various functions
– engineering, contracts, finance and execution. This will help in decision
support through timely identification of critical inputs and provide a holistic
approach towards project implementation. The benefits expected to be accrued
through the interface is focused monitoring of various inputs including
drawings, materials and execution w.r.t. major project milestones.
The Company has successfully effected standardization, bulk ordering of
660 MW and 800 MW units and EPC contracting to reduce engineering time and
thereby reduce project execution time. 2 units of 800 MW each at Darlipalli,
Odisha, have been awarded under bulk tendering during 2013-14 (with this, total
9 units of 660 MW each and 9 units of 800 MW each awarded under bulk tendering
are under various stages of construction). 3 units of 660 MW each at North
Karanpura, Jharkhand, and 1 unit of 500 MW at Unchahar, UP, have been awarded
on EPC basis.
STATEMENT OF STANDALONE UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER AND NINE-MONTHS ENDED 31ST DECEMBER 2014
(RS. IN MILLIONS)
|
Particulars |
Quarter Ended |
Nine Months Ended |
|
|
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
|
|
UNAUDITED |
||
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
187389.800 |
165823.600 |
534078.100 |
|
b) Other operating income |
1191.100 |
1542.700 |
5236.600 |
|
Total
income from Operations(net) |
188580.900 |
167366.300 |
53314.7000 |
|
2.Expenditure |
|
|
|
|
a) Fuel cost |
121196.300 |
114393.300 |
363240.900 |
|
b) Employees benefit expenses |
9013.600 |
9180.100 |
27377.800 |
|
c) Depreciation and amortization expenses |
12534.100 |
11515.800 |
35204.600 |
|
d) Other expenses |
11773.800 |
11369.600 |
34330.900 |
|
Total expenses |
154517.800 |
146458.800 |
460154.200 |
|
|
|
|
|
|
3. Profit from operations before other income and
financial costs |
34063.100 |
20907.500 |
79160.500 |
|
4. Other income |
4812.800 |
5306.900 |
15445.300 |
|
5. Profit from ordinary activities before finance costs |
38875.900 |
26214.400 |
94605.800 |
|
6. Finance costs |
7008.100 |
6674.100 |
20351.300 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
31867.800 |
19540.300 |
74244.500 |
|
8. Exceptional items |
-- |
-- |
-- |
|
9. Profit from ordinary activities before tax
Expense: |
31867.800 |
19540.300 |
74244.500 |
|
10.Tax expenses |
|
|
|
|
Current tax |
1127.500 |
(218.800) |
775.900 |
|
Deferred tax |
656.800 |
944.600 |
2558.600 |
|
Less: Deferred tax recoverable |
656.500 |
1901.800 |
2558.300 |
|
Total tax expense |
1127.800 |
(1176.000) |
776.200 |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9-10) |
30740.000 |
20716.300 |
73468.300 |
|
12.Extraordinary Items (net of tax expense) |
-- |
-- |
-- |
|
13.Net Profit / (Loss) for
the period (11 -12) |
30740.000 |
20716.300 |
73468.300 |
|
14.Paid-up equity share capital (Nominal value Rs.10/- per share) |
82454.600 |
82454.600 |
82454.600 |
|
15. Reserve excluding Revaluation
Reserves as per balance sheet of previous accounting year |
|
|
|
|
16.i) Earnings per share (before and after
extraordinary items) of Rs.10/- each) (not annualized): |
|
|
|
|
(a) Basic and diluted |
3.73 |
2.51 |
8.91 |
|
|
|||
|
A. Particulars
of shareholding |
|
|
|
|
1.
Public Shareholding |
|
|
|
|
- Number of shares |
2064849420 |
2064849420 |
2064849420 |
|
- Percentage of shareholding |
25.04 |
25.04 |
25.04 |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
-- |
-- |
-- |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
-- |
-- |
-- |
|
Percentage of shares (as a % of total share capital of the
company) |
-- |
-- |
-- |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
6180614980 |
6180614980 |
6180614980 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
100.00 |
100.00 |
100.00 |
|
Percentage of shares (as a % of total share capital of the
company) |
74.96 |
74.96 |
74.96 |
|
B.
Investor Complaints [Nos.] |
Quarter ended 31.12.2014 |
|
Pending at the beginning of the quarter |
1 |
|
Receiving during the quarter |
1156 |
|
Disposed of during the quarter |
1156 |
|
Remaining unreserved at the end of the quarter |
1 |
UNAUDITED SEGMENT
WIE REVENUE, RESULTS AND CAPITAL EMPLOYED
(RS. IN MILLIONS)
|
PARTICULARS |
Quarter
Ended |
Nine
Months Ended |
|
|
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
|
|
UNAUDITED |
||
|
1.
Segment Revenue |
|
|
|
|
a. Generation |
188850.100 |
167828.700 |
540288.500 |
|
b. Others |
301.800 |
228.600 |
800.300 |
|
Total |
189151.900 |
168057.300 |
541088.800 |
|
|
|
|
|
|
2.
Segment Result (Profit
before Interest and Tax) |
|
|
|
|
a. Generation |
36846.800 |
24240.500 |
88041.100 |
|
b. Others |
(129.900) |
36.700 |
(104.900) |
|
Total |
36716.900 |
24277.200 |
87936.200 |
|
|
|
|
|
|
Less
: (i) Interest |
7008.100 |
6674.100 |
20361.300 |
|
(ii) Other un-allocable
expenditure net off un-allocable income. |
(2159.000) |
(1937.200) |
(6669.600) |
|
Profit
before Tax |
31867.800 |
19540.300 |
74244.500 |
|
3.
Capital Employed |
|
|
|
|
a. Generation |
858212.200 |
786188.900 |
858212.200 |
|
b. Others |
4992.400 |
4707.200 |
4992.400 |
|
c. Un-allocable |
68361.900 |
109930.500 |
68361.900 |
|
|
|
|
|
|
TOTAL |
931566.500 |
900826.600 |
931566.500 |
NOTES:
1.
These results have been reviewed by the Audit Committee
of the Board of Directors and approved by the Board of Directors in their
respective meetings held on 30th January
2015.
2.
(a) The Central Electricity Regulatory Commission
(CERC) notified the Tariff Regulations, 2014 in February 2014 (Regulations,
2014). Pending issue of provisional/final tariff orders w.e.f.1st April 2014 for all the stations,
beneficiaries are billed in accordance with the tariff approved and applicable
as on 31st March 2014
as provided in the Regulations 2014. The amount provisionally billed for
the quarter and nine-months ended 31stDecember 2014 is Rs.188957.200 Millions and Rs.548761.100 Millions respectively
(corresponding previous quarter and nine-months Rs. 178723.300 Millions and Rs.492289.000 Millions).
(b) The Company has filed a petition before
the Hon'ble High Court of Delhi contesting certain provisions of the
Regulations, 2014. Pending issue of provisional/final tariff orders under
Regulations, 2014 by the CERC and disposal of the petition, sales have been
provisionally recognised at Rs.185699.700
Millions for the quarter and Rs.542003.200
Millions for the nine-months ended 31st December 2014 (corresponding previous
quarter and nine-months Rs.178917.300
Millions and Rs.492849.500 Millions)
on the basis of said Regulations.
(c) Sales include Rs.1208.200 Millions for the quarter
and Rs.4409.900 Millions for the
nine-months ended 31st December
2014 (corresponding previous quarter and nine-months Rs.6395.500 Millions and Rs.9578.000 Millions) pertaining to
previous years recognized based on the orders issued by the CERC/Appellate
Tribunal for Electricity. Sales also include (-) Rs.101.900 Millions for the quarter and (-) Rs.13994.200 Millions for the
nine-months ended 31st December
2014 (corresponding previous quarter and nine-months Rs.1985.500 and Rs.2796.500 Millions) on account of
income tax refundable to/recoverable from the beneficiaries as per Regulations,
2004. Sales also include Rs.295.200
Millions for the quarter and Rs.885.600
Millions for the nine-months ended 31st December 2014 (corresponding previous
quarter and nine-months Rs.189.200
Millions and Rs.567.600 Millions)
on account of deferred tax materialized which is recoverable from beneficiaries
as per Regulations, 2014.
3.
In line with the accounting policy on advance
against depreciation, excess of depreciation charged in the books over the
depreciation recovered in tariff, amounting to Rs.2083.200 Millions upto 31st March 2014 has been recognised as
prior period sales and netted from 'Other expenses'.
4. Provision for current tax for the quarter and nine-months includes tax related to earlier years amounting to (-) Rs.6636.000 Millions and (-) Rs.19525.300 Millions respectively (corresponding previous quarter and nine-months Rs.1987.900 Millions).
5. Regulations, 2014 provides recovery of income tax from the beneficiaries by grossing up of the return on equity based on effective tax rate for the financial year i.e. based on the actual tax paid during the year on the generation income. Accordingly, deferred tax provided during the quarter and nine-months ended 31st December 2014 on the generation income is accounted as 'Deferred tax recoverable' as the same will be recovered from the beneficiaries in future years.
6. Government of India has promulgated Coal Mines (Special Provisions) Ordinance, 2014 (Ordinance) on 21st October 2014 wherein five coal blocks allotted to the Company have been cancelled. As per Section 5 of the said Ordinance, the cancelled coal blocks may be allotted to a Government Company subject to fulfillment of certain conditions. The Nominated Authority of the Ministry of Coal, vide order dated 18th December 2014 has earmarked 36 coal blocks for ‘Allotment’ under Section 5(1) of Ordinance. The five coal blocks of the Company are appearing in this list. The Company expects the allotment of the cancelled coal blocks in its favour. Accordingly, the Company considers the expenditure incurred on these coal blocks as good.
7. The Company has revised the accounting policy for depreciation of certain assets in alignment with Schedule-II to the Companies Act, 2013 which has become applicable from 1st April 2014. Consequently, profit for the quarter and nine-months ended 31st December 2014 is lower by Rs.31.900 Millions and Rs.114.500 Millions respectively and fixed assets as at 31st December 2014 are lower by Rs.169.200 Millions. Further, an amount of Rs.54.700 Millions has been adjusted with the opening balance of the retained earnings where the remaining useful life of such assets is Nil as at 1st April 2014 in line with the provisions of Schedule-II to the Companies Act, 2013.
8.
The Board of Directors has recommended interim
dividend of 
0.75
per equity share (face value 10/-each)
for the financial year 2014-15 in their meeting held on 30th January 2015.
9. During the quarter, one thermal unit of 660 MW at Barh w.e.f.15th November 2014 and solar PV power station of 15 MW at Singrauli w.e.f. 31st December 2014 have been declared commercial.
10. The above financial results have been reviewed by the Statutory Auditors as required under Clause 41 of the Listing Agreements.
11. Figures for the previous periods/year have been regrouped/rearranged wherever necessary.
CONTINGENT
LIABILITIES (AS ON 31.03.2014):
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.41348.500 Millions (previous
year Rs.39661.100 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 erstwhile land owners have claimed higher
compensation before various authorities/ courts which are yet to be settled.
Against such cases, contingent liability of Rs.3934.000 Millions (previous year
Rs.7475.400 Millions) has been estimated.
(iii) Fuel Suppliers
Pending resolution
of the issues with coal companies, the difference between the amount billed by
the coal companies and the payment released by the company amounts to
Rs.10551.400 Millions (previous year Rs.25311.000 Millions). Further, an amount
of Rs.6473.300 Millions (previous year Rs.3686.700 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.10882.300 Millions (previous year Rs.8628.100 Millions) has
been estimated.
(v) Possible Reimbursement
The contingent
liabilities referred to in (i) above, include an amount of Rs.9948.300 Millions
(previous year Rs.9612.400 Millions) relating to the hydro power project -
Other non 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.16940.000
Millions (previous year Rs.27920.600 Millions).
b) Disputed Income Tax/Sales Tax/Excise
Matters
Disputed Income
Tax/Sales Tax/Excise matters pending before various Appellate Authorities
amount to Rs.19074.900 Millions (previous year Rs.15476.100 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.3903.700 Millions (previous year
Rs.3651.900 Millions).
c) Others
Other contingent
liabilities amount to Rs.3634.900 Millions (previous year Rs.2512.600
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 Signaling 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. 62.67 |
|
|
1 |
Rs. 93.26 |
|
Euro |
1 |
Rs. 68.85 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
|
--PROFITABILITY |
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.