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NHPC Ltd.

BSE: 533098 Sector: Infrastructure
NSE: NHPC ISIN Code: INE848E01016
BSE 00:00 | 24 Apr 2020 NHPC Ltd
NSE 05:30 | 01 Jan 1970 NHPC Ltd

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OPEN 20.95
PREVIOUS CLOSE 20.80
VOLUME 160207
52-Week high 29.00
52-Week low 15.15
P/E 6.71
Mkt Cap.(Rs cr) 20,894
Buy Price 21.15
Buy Qty 5.00
Sell Price 21.25
Sell Qty 31.00
OPEN 20.95
CLOSE 20.80
VOLUME 160207
52-Week high 29.00
52-Week low 15.15
P/E 6.71
Mkt Cap.(Rs cr) 20,894
Buy Price 21.15
Buy Qty 5.00
Sell Price 21.25
Sell Qty 31.00

NHPC Ltd. (NHPC) - Chairman Speech


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Company chairman speech

Dear Members

It is my pleasure and honor to have an opportunity to communicate withyou for the second time as Chairman & Managing Director of your Company. Power sectorto a great extent is an enabler of growth for any economy of the world and our country isnot different. Ours is one of the fastest growing economy in the world and this createsimmense opportunities for us to grow expand and multiply. Nature has bequeathed ourcountry with hydropower potential of more than 148 GW yet we have developed only about 45GW of large hydro capacity. Thus there is lot of scope for development of hydroelectricpower. Hydroelectric power plays a critical role in the overall energy mix and Govt. ofIndia has announced measures for promoting hydroelectric power. These measures shallprovide impetus to the development of hydro power sector and NHPC being the premierorganization of the country for development of hydroelectric power is committed to tap andutilize the available hydroelectric power potential.

The year 2018-19 has been an eventful and notable year for your

Company on operational financial as well as business expansion fronts.Our Power Stations have set a new milestone by achieving highest ever annual generation of24193 Million Units (MUs) with PAF of 84.97%. The previous record was of 23404 MUsduring financial year 2015-16. This is a reflectionof efficient operation as well asefforts of our operations and maintenance teams. Installed capacity of your Company standsat 7071 MW on consolidated basis and 5551 MW on standalone basis which includes 50 MWeach of solar and wind power.

On financial front total income of Company increased to

Rs 9085.96 crore registering a growth of 9% over the total income infinancial year 2017-18. Total comprehensive income Net Profit After Tax (PAT) and othercomprehensive income were Rs 2618 crore Rs 2630 crore and Rs (12) crore respectively.

Sales from operations during financial year 2018-19 were Rs 8161.18crore whereas realization including liquidation of outstanding amount of previous yearsand surcharge were Rs 6498.70 crore.

New venture of your Company i.e. Power Trading has also started2018-19 yielding results. During the financial the Company has earned revenue of Rs 13crore approximately from power trading business.

On business expansion front investment expenditure for pre-investmentactivities and various clearances of Dibang Multipurpose Project (2880 MW) in the stateof Arunachal Pradesh has been approved by the Cabinet Committee on Economic Affairs (CCEA)on the recommendations of Project Investment Board (PIB). The project is having allstatutory clearances except Forest Clearance (Stage-II) for seeking investment sanctionfrom Govt. of India. Further our bid for Lanco Teesta Hydro Power Limited (LTHPL)developer of

Teesta-VI HE Project (500 MW) in Sikkim for an amount of

Rs 897.50 Crores under Corporate Insolvency Resolution Process wasapproved by National Company Law Tribunal (NCLT). CCEA has already approved the proposalfor taking over of LancoTeesta Hydro Power Limited (LTHPL). Company has received in-principleapproval for setting-up of one Solar Park of 100 MW capacity in Odisha from Ministry ofNew and Renewable Energy Government of India. NHPC was also appointed as‘Aggregator' under Pilot Scheme-II by Ministry of Power for procurement ofaggregated power of 2500 MW for three years.

The Company has also inked Memorandum of Understanding (MoU) with:

Jammu and Kashmir State Power Development

Corporation Limited (JKSPDC) and Government of Jammu & Kashmir(GoJK) for implementation of Ratle HE Project (850 MW) in the state of Jammu & Kashmirthrough a Joint Venture Company;

BHEL for joint bidding in consultancy and hydro-electric projects;

NLC India Limited for trading of power.

NHPC is proud to get the opportunity to work for the Indian army. TheCompany has signed a MoU with Indian Army in April 2019 for undertaking construction ofsemi underground bunkers and fully underground caverns at different locations in India.The expertise of our company in undertaking construction at rough and difficult terrainsis appreciated by one and all The status of operational plants ongoing and new projectsof the Company has been provided in detail in the Directors'

Report. However I would like to mention that in addition to existingstandalone operational capacity of 5551 MW two projects with total capacity of 2800 MWare under different stages of construction. The Principal Bench of Hon'ble NGT videorder dated July 31 2019 has upheld the constitution of Expert Committee by MoEF&CCand observed that the project be advanced in public interest. I am hopeful that this willpave the way for restarting the construction works in near future. Further hydroelectricpower project with expected capacity of

5945 MW are under clearance/ approval stage. Capacity addition of1376 MW of hydroelectric power is also anticipated through Subsidiaries and Jointventures. Further two power stations of the Company namely Bairasiul (180 MW) and Loktak(105 MW) are under Renovation and Modernization with scheduled completion in financialyear 2021-22.

Your Company has taken small but steady steps for increasing the shareof renewable energy in its portfolio. To augment its existing portfolio of 100 MW ofrenewable energy (50 MW each of Wind and Solar power) Company has initiated the processfor the development of 10 MW floating solar power project in Kallada Kerala and 72 MW(+10%) capacity Wind Power Projects in the Palakkad District of Kerala. NHPC in jointventure with Uttar Pradesh New and Renewable Energy Development

Agency (UPNEDA) is also in the process of setting up a 32 MW solarpower project in Uttar Pradesh. Further opportunities for development of renewable energyare being explored actively. During the financial year 2018-19 your company has installedroof-top/ ground mounted solar power panels at its various locations having capacity of634.7 KWp. Further your company has also installed 1.00 MWp Solar Power Plant at rooftopof different buildings of NHPC Residential Complex Faridabad in June 2019.

Every employee of your Company is committed to maximize itsprofitability thereby creating and maximizing wealth of shareholders. In this endeavorthe Company has already paid an interim dividend of Rs 0.71/- per share in March 2019 andhas recommended a final dividend of ` 0.75/- per equity share for financial year2018-19 subject to your approval. On approval the total dividend payout for thefinancial year 2018-19 will be more than 5% of net worth and approximately 56% of theprofit after tax.

During the financial year 2018-19 the Company had also bought back214285714 fully paid equity shares of

Rs 10/- each at a price of Rs 28/- per equity share in January 2019.Further Govt. of India had divested 0.50% of total paid-up share Capital of thecompany through Bharat 22 ETF in March 2019. Post-buyback and divestment the holding ofthe Government of India in your Company stands reduced at 73.33% of the total paid upcapital of the Company.

As a socially responsible entity your Company has continued to takeCSR initiatives that have positive impact on society at large especially the community inthe neighborhood of its operations. Corporate Social Responsibility (CSR) has been anintegral part of your Company's business philosophy. During the year various CSRactivities have been undertaken in the field of Health Sanitation Drinking WaterEducation and Skill development capacity building Women Empowerment Socialinfrastructure development etc. The expenditure on CSR & SD activities during thefinancial year 2018-19 wasRs 17.58 . crores. Your Company is committed to fulfillstakeholders' aspiration and contributing to sustainable development of peopleplanet and the organization.

Management of your Company believes in adhering to highest standards ofCorporate Governance in all its operations. Being a listed company NHPC has been makingsincere efforts to comply with the provisions of SEBI (Listing Obligations and

Disclosure Requirements) Regulations 2015 to the extent it is withinthe ambit of the management of the Company. Your Company also follows the guidelines onCorporate Governance for CPSEs issued by Department of Public Enterprises (DPE)Government of India. During the year 2018-19 your Company has achieved"Excellent" rating for compliance with ‘DPE

Guidelines on Corporate Governance' under ‘CorporateGovernance Grading System' prescribed by DPE.

The efforts and practices of your Company have been recognized in formof awards and accolades such as "Best Performing Utility in Hydropower Sector"at CBIP Awards "TAI tunneling project of the year award" by TunnelingAssociation of India for execution of tunnels in Kishanganga H.E. Project

"SILVER" level recognition in World Healthy Workplace Award

2018 instituted by Arogya World India Trust in partnership with PublicHealth Foundation of India and "Second Prize" in Region "A" foroutstanding work in the field of Rajbhasha implementation for the year 2017-18 fromMinistry of Home Affairs Government of India.

I take this opportunity to convey my gratitude to all stakeholdersbusiness partners customers CERC and various Ministries of Govt. of India especiallyMinistry of Power for providing valuable guidance and support in our efforts. I would alsolike to thank Government of various States for extending support in our endeavors. Iconvey my sincere appreciation to my esteemed colleague Board members for their continuedsupport. Finally I must thank all the employees for their continuous and untiring effortsin building a strong vibrant and responsible organization. Thanking you.

Yours sincerely

(Balraj Joshi)
Chairman and Managing Director
DIN 07449990
Date: August 2 2019
Place: Faridabad


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