« Back Standalone Unaudited Financial Results for the Quarter and Half-Year ended 30th September


PART I : Statement of Standalone Unaudited Financial Results for the Quarter and Half-Year ended 30th September 

(Rupee in Lakhs)
Sl. No.Particulars

Quarter ended 30.09.2015 (Unaudited)

Quarter ended 30.06.2015 (Unaudited)Quarter ended 30.09.2014 (Unaudited)Half-Year ended 30.09.2015 (Unaudited)Half-Year ended 30.09.2014 (Unaudited)Year  ended 31.03.2015 (Audited)
1Income from operations      
 (a) Net sales (net of electricity duty)177229017018691658236347415934668837263775
 (b) Other operating income17561658915427241504045560830
 Total income from operations (net)178985117084581673663349830935073387324605
 (a) Fuel cost115408311509141143933230499724204464884519
 (b) Employee benefits expense921689227691801184444183642366978
 (c) Depreciation and amortisation expense132291123795115158256086226705491165
 (d) Other expenses140535121501113696262036225571464548
 Total expenses151907714884861464588300756330563646207210
3Profit from operations before other income, finance costs and exceptional items (1-2)2707742199722090754907464509741117395
4Other income27539238725306951411106325211632
5Profit from ordinary activities before finance costs and exceptional items (3+4)2983132438442621445421575572991329027
6Finance costs814537308866741154541133532274362
7Profit from ordinary activities after finance costs but before exceptional items (5-6)2168601707561954033876164237671054665
8Exceptional items------
9Profit from ordinary activities before tax (7+8)2168601707561954033876164237671054665
10Tax expenses:


 (a) Current tax (Refer note 3)(72760)(42861)(2188)(115621)(3516)32644
 (b) Deferred tax189489039446107971901888875
 (c) Less: Deferred asset for deferred tax liability2102882119018109231901895940
 Total tax expense (a+b-c)(72968)(42779)(11760)(115747)(3516)25579
11Net profit from ordinary activities after tax (9-10)2898282135352071635033634272831029086
12Extraordinary items (net of tax expense)------
13Net profit for the period (11-12)2898282135352071635033634272831029086
14Paid-up equity share capital 
(Face value of share Rupee10/- each)
15Paid-up debt capital   867908769565298599534
16Reserves excluding revaluation reserve as per balance sheet     7341189
17Debenture redemption reserve   343885257916362460
18(i)Earnings per share (before extraordinary items) - (of Rupee 10/- each)(not annualised) (in Rupee):      
 (a) Basic3.512.592.516.105.1812.48
 (b) Diluted3.512.592.516.105.1812.48
18(ii)Earnings per share (after extraordinary items) - (of Rupee 10/- each) (not annualised) (in Rupee):    
 (a) Basic3.512.592.516.105.1812.48
 (b) Diluted3.512.592.516.105.1812.48
19Debt equity ratio   1.000.771.05
20Debt service coverage ratio
21Interest service coverage ratio

See accompanying notes to the financial results

PART II : Select Information for the Quarter and Half-Year ended 30th September 2015

Sl.No.ParticularsQuarter ended

Quarter ended
Quarter ended 
Half-Year ended 
Year ended
1Public Shareholding      
 - Number of shares206484942020648494202064849420206484942020648494202064849420
 - Percentage of shareholding25.0425.0425.0425.0425.0425.04
2Promoters 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 shares618061498061806149806180614980618061498061806149806180614980
 - Percentage of shares (as a % of the total shareholding of promoter and promoter group)100.00100.00100.00100.00100.00100.00
 - Percentage of shares (as a % of the total share capital of the company)74.9674.9674.9674.9674.9674.96


Quarter ended

 Pending at the beginning of the quarter1
 Received during the quarter926
 Disposed of during the quarter927
 Remaining unresolved at the end of the quarter-

Standalone Statement of Assets and Liabilities

(Rupee in Lakhs)
Sl.No.ParticularsAs at 30.09.2015
As at
1Shareholders' funds  
 (a) Share capital824546824546
 (b) Reserves and surplus78486927341189
 Sub-total - Shareholders' funds86732388165735
2Deferred revenue183299139415
3Non-current liabilities  
 (a) Long-term borrowings78730947853233
 (b) Deferred tax liabilities (net)9778097907
 (c) Other long-term liabilities266887288659
 (d) Long-term provisions119990111571
 Sub-total Non-current liabilities83577518351370
4Current liabilities  
 (a) Trade payables519335595315
 (b) Other current liabilities19052191680762
 (c) Short-term provisions655065775875
 Sub-total Current liabilities30796193051952
1Non-current assets  
 (a) Fixed assets (including capital work-in-progress)1446552613534256
 (b) Non-current investments753731715407
 (c) Long-term loans and advances18055331552789
 (d) Other non-current assets218410169677
 Sub-total Non-current assets1724320015972129
2Current assets  
 (a) Current investments228839187806
 (b) Inventories650920745300
 (c) Trade receivables768188760437
 (d) Cash and bank balances6424411287881
 (e) Short-term loans and advances245837240759
 (f) Other current assets514482514160
 Sub-total Current-assets30507073736343

Segment-wise Revenue, Results and Capital Employed for the Quarter and Half-Year ended 30th September 2015

(Rupee in Lakhs)
Sl.No.ParticularsQuarter ended
Quarter ended
Quarter ended
Year ended
1Segment revenue      
 - Generation179502817117311678287350675935143847343010
 - Others2701237122865072498511289
 - Total179772917141021680573351183135193697354299
2Segment results (Profit before tax and interest)      
 - Generation3109302524962424055634265119431255439
 - Others(2,702)(207)367(2,909)250(445)
 (i) Unallocated finance costs814537308866741154541133532274362
 (ii) Other unallocable expenditure net of unallocable income99158445(19372)18360(45106)(74033)
 Profit before tax2168601707561954033876164237671054665
3Capital employed (Segment assets - Segment liabilities)      
 - Generation937680189089087861889937680178618898914847
 - Others598483886747072598484707282008
 - Un-allocated(763411)(566277)1099305(763411)1099305(831120)
The operations of the company are mainly carried out within the country and therefore, geographical segments are not applicable.


1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on 29th October 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 half-year ended 30th September 2015 is Rupee18,59,213 lakh and Rupee36,30,561 lakh respectively (corresponding previous quarter and half-year Rupee17,06,905 lakh and Rupee35,98,039 lakh).

(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 Rupee18,31,134 lakh for the quarter and Rupee 36,12,952 lakh for the half-year ended 30th September 2015 (corresponding previous quarter and half-year Rupee17,04,549 lakh and Rupee35,63,035 lakh) on the basis of said Regulations.  Pending disposal of the petition, energy charges included in sales, in respect of the coal based stations for the quarter and half-year have been recognized based on the GCV ‘as received at the secondary crusher’. 

(c) Sales include Rupee27,447 lakh for the quarter and Rupee23,145 lakh for the half-year ended 30th September 2015 (corresponding previous quarter and half-year Rupee 9,010 lakh and Rupee32,017 lakh) pertaining to previous years recognized based on the orders issued by the CERC/Appellate Tribunal for Electricity. Sales also include (-) Rupee90,168 lakh for the quarter and (-) Rupee1,69,365 lakh for the half-year ended 30th September 2015 (corresponding previous quarter and half-year (-) Rupee 60,502 lakh and Rupee1,38,923 lakh) on account of income tax refundable to/recoverable from the beneficiaries as per Regulations, 2004. Sales also include Rupee1,275 lakh for the quarter and Rupee2,549 lakh for the half-year ended 30th September 2015 (corresponding previous quarter and half-year Rupee2,952 lakh and Rupee5,904 lakh) on account of deferred tax materialized which is recoverable from beneficiaries as per Regulations, 2014.

3. Provision for current tax for the quarter and half year ended 30th September 2015 includes tax related to earlier years amounting to  (-) Rupee 1,19,720 lakh and (-) Rupee 2,03,902 lakh respectively (corresponding previous quarter (-) Rupee 56,330 lakh and half-year (-) Rupee 1,28,893 lakh). 

4. The environmental clearance (“clearance”) granted by the Ministry of Environment and Forest, Government of India (MoEF) for one of the Company's project was challenged before the National Green Tribunal (NGT). The NGT disposed the appeal, inter alia, directing that the order of clearance be remanded to the MOEF to pass an order granting or declining clearance to the project proponent afresh in accordance with the law and the judgment of the NGT and for referring the matter to the Expert Appraisal Committee ("Committee") for its re-scrutiny, which shall complete the process within six months from the date of NGT order. NGT also directed that the environmental clearance shall be kept in abeyance and the Company shall maintain status quo in relation to the project during the period of review by the Committee or till fresh order is passed by the MoEF, whichever is earlier. The Company filed an appeal challenging the NGT order before the Hon’ble Supreme Court of India which stayed the order of the NGT and the matter is sub-judice. Aggregate cost incurred on the project upto 30th September 2015 is Rupee10,36,609 lakh (Rupee8,73,244 lakh as at 31st March 2015). Management is confident that the approval for proceeding with the project shall be granted, hence no provision is considered necessary.

5. Other non current assets as at 30th September 2015 include Rupee47,334 lakh (Rupee46,628 lakh as at 31st March 2015) recoverable from Government of India (GOI) towards the cost incurred in respect of one of the hydro power projects, the construction of which has been discontinued on the advice of the Ministry of Power, GOI. Management expects that the total cost incurred, anticipated expenditure on safety and stabilization measures, other recurring site expenses and interest costs as well as claims of various contractors/vendors for this project, will be compensated in full by the GOI. Hence no provision is considered necessary.

6. Formula used for computation of coverage ratios - DSCR  = Earning before Interest, Depreciation, Tax and Exceptional Items/(Interest net of transferred to expenditure during construction + Principal repayment) and ISCR = Earning before Interest, Depreciation, Tax and Exceptional Items/Interest net of transferred to expenditure during construction.

7. During the quarter, four units of 200 MW each at Koldam Hydro Power Project have been declared commercial w.e.f 18th July 2015.

8.During the quarter, the Company has paid final dividend of Rupee 1.75 per share (face value of Rupee 10/- each) for the financial year 2014-15.

9. The above financial results have been reviewed by the Statutory Auditors as required under Clause 41 of the Listing Agreements.

10. Figures for the previous periods/year have been regrouped/rearranged wherever necessary.

For and on behalf of the Board of Directors

Place: New Delhi
Date: 29th October, 2015