निवेशक

« Back वार्षिक वित्तीय परिणाम 2012 -2013

STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH 2013

(Rupee/Lakh)
Sl. No.ParticularsStandaloneConsolidated
Quarter ended 31.03.2013 (Unaudited)Quarter ended 31.12.2012 (Unaudited)Quarter ended
31.03.2012 (Unaudited)
Year ended 31.03.2013
(Audited)
Year ended 31.03.2012 (Audited)Year ended 31.03.2013 (Audited)Year ended 31.03.2012 (Audited)
123456789
1Income from operations
(a)Net sales (net of electricity duty/excise duty)1646184157749116263566431638611448967952896495832
(b)Other operating income88725326597951357559073414239393493
Total income from operations (net)1734909158075616361516567393620522369376826589325
2Expenses
(a)Fuel cost1038969100981810442954101825416354642827774330266
(b)Employee benefits expense981366916490756336012310171355138326096
(c)Depreciation and amortisation expense1021268287673626339676279170382322310709
(d)Other expenses1184349898781154418150327521481522389979
Total expenses1357665126084512898315195663508040855017595357050
3Profit from operations before other income, finance costs and exceptional items (1-2)3772443199113463201371730112481514359231232275
4Other income884107219968120310158278965316397294923
5Profit from ordinary activities before finance costs and exceptional items (3+4)4656543921104144401681888140378017523201527198
6Finance costs591175303848700192436171164248054213472
7Profit from ordinary activities after finance costs but before exceptional items (5-6)4065373390723657401489452123261615042661313726
8Exceptional items168411--168411-156829-
9Profit from ordinary activities before tax (7+ 8)5749483390723657401657863123261616610951313726
10Tax expense:
(a)Current tax1262057252093233368084306848370850322987
(b)Deferred tax10582687613163278403395316239273
Total tax expense (a+b)13678779396106396395924310243402473332260
11Net profit from ordinary activities after tax (9-10)43816125967625934412619399223731258622981466
12Extraordinary items (net of tax expense)-------
13Net profit for the period (11-12)43816125967625934412619399223731258622981466
14Share of profit / (loss) of associates-------
15Minority interest-----(456)187
16Net profit after taxes, minority interest and share of profit of associates (13+14-15)438161259676259344

1261939

9223731259078981279
17Paid-up equity share capital
(Face value of share Rupee 10/- each)
824546824546824546824546824546824546824546
18Paid-up debt capital   58146305027937  
19Reserves excluding revaluation reserve as per balance sheet   7214205650457172995496603035
20Debenture redemption reserve   253533238904  
21(i)Earnings per share (before extraordinary items) - (of Rupee10/- each)(not annualised):
(a)Basic5.313.153.1515.3011.1915.2711.90
(b)Diluted5.313.153.1515.3011.1915.2711.90
21(ii)Earnings per share (after extraordinary items) - (of Rupee10/- each) (not annualised):
 (a)Basic5.313.153.1515.3011.1915.2711.90
 (b)Diluted5.313.153.1515.3011.1915.2711.90
22Debt equity ratio   0.720.69  
23Debt service coverage ratio (DSCR)   3.173.21  
24Interest service coverage ratio (ISCR)   10.399.81  

See accompanying notes to the financial results.

Part II - Select Information

Sl. No.ParticularsStandaloneConsolidated
Quarter ended
31.03.2013
(Unaudited)
Quarter ended
31.12.2012
(Unaudited)
Quarter ended
31.03.2012
(Unaudited)
Year ended
31.03.2013
(Audited)
Year ended
31.03.2012
(Audited)
Year ended
31.03.2013
(Audited)
Year ended
31.03.2012
(Audited)
123456789
APARTICULARS OF SHAREHOLDING
1Public shareholding
-Number of shares2061366
100
1278103
220
1278103
220
2061366
100
1278103
220
2061366
100
1278103
220
-Percentage of shareholding25.0015.5015.5025.0015.5025.0015.50
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 shares6184098
300
6967361
180
6967361
180
6184098
300
6967361
180
6184098
300
6967361
180
-Percentage of the shares (as a % of the total shareholding of promoter and promoter group)100.00100.00100.00100.00100.00100.00100.00
-Percentage of the shares (as a % of the total share capital of the company)75.0084.5084.5075.0084.5075.0084.50
Sl.No.ParticularsQuarter ended 31.03.2013
BINVESTOR COMPLAINTS
 Pending at the beginning of the quarter2
 Received during the quarter1122
 Disposed of during the quarter1123
 Remaining unresolved at the end of the quarter1

STATEMENT OF ASSETS AND LIABILITIES

(Rupee/Lakh)
Sl.No.ParticularsStandaloneConsolidated
As at 31.03.2013 (Audited)As at 31.03.2012 (Audited)As at 31.03.2013 (Audited)As at 31.03.2012 (Audited)
AEQUITY AND LIABILITIES
1Shareholders' funds
 (a) Share capital824546824546824546824546
 (b) Reserves and surplus7214205650457172995496603035
 Sub-total - Shareholders' funds8038751732911781240957427581
2Deferred revenue124405143006124405143006
3Ash utilisation fund--2349312698
4Minority interest--6448159559
5Non-current liabilities
 (a) Long-term borrowings5325366459082764587725485194
 (b) Deferred tax liabilities (net)915306369010807276449
 (c) Other long-term liabilities196599172906221381179157
 (d) Long-term provisions73992603707612062349
 Sub-total - Non-current liabilities5687487488779368643455803149
6Current liabilities
 (a) Short-term borrowings--3821615016
 (b) Trade payables515877446065588867503797
 (c) Other current liabilities104467295372413142541219579
 (d) Short-term provisions700454323369728902341109
 Sub-total - Current liabilities2261003172315826702392079501
 TOTAL - EQUITY AND LIABILITIES16111646140830741787105815525494
BASSETS
1Non-current assets
 (a) Fixed assets (including capital work-in-progress)1000455287084221183867310152913
 (b) Goodwill on consolidation--6262
 (c) Non-current investments913764958392330042492288
 (d) Long-term loans and advances9633455394351105865621605
 (e) Other non-current assets113277137188114549137516
 Sub-total - Non-current assets11994938103434371338919111404384
2Current assets
 (a) Current investments162246162246162246162246
 (b) Inventories405719370285457578417791
 (c) Trade receivables536549583251609664668102
 (d) Cash and bank balances1686770161418318738121808739
 (e) Short-term loans and advances174553154332171830167666
 (f) Other current assets11508718553401206737896566
 Sub-total - Current assets4116708373963744818674121110
 TOTAL - ASSETS16111646140830741787105815525494

AUDITED SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE YEAR ENDED 31ST MARCH 2013

(Rupee/Lakh)
Sl. No.ParticularsStandaloneConsolidated
Quarter ended 31.03.2013 (Unaudited)Quarter ended 31.12.2012 (Unaudited)Quarter ended 31.03.2012 (Unaudited)Year ended 31.03.2013 (Audited)Year ended 31.03.2012 (Audited)Year ended 31.03.2013 (Audited)Year ended 31.03.2012 (Audited)
123456789
1Segment revenue
- Generation1913528158390216395786753745621155170801366548411
- Others40412485320812846146055411280007
Total1917569158638716427866766591622615671342486628418
2Segment results (Profit before tax and interest)
- Generation5809793403373797121664505123003617330241333659
- Others1213(213)(1174)1614(1946)(5448)19238
- Total5821923401243785381666119122809017275761352897
Less
(i) Unallocated interest and finance charges591175303848700192436171164248054213472
(ii) Other unallocable expenditure net of unallocable income(51873)(51986)(35902)(184180)(175690)(181573)(174301)
Profit before tax5749483390723657401657863123261616610951313726
3Capital employed (Segment assets - Segment liabilities)
- Generation7100418609450356407277100418564072774487256240077
- Others449637455299449652993380944926
- Un-allocated9338372054645168309193383716830916415611142578
- Total8038751815289373291178038751732911781240957427581

The operations of the company are mainly carried out within the country and therefore, geographical segments are not applicable.

Notes:

1. The above results have been reviewed by the Audit Committee of the Board of Directors in its meeting held on 9th May 2013 and approved by the Board of Directors in the meeting held on 10th May 2013.

2. The Subsidiaries and Joint Venture Companies considered in the Consolidated Financial Results are as follows.

a)Subsidiary CompaniesOwnership (%)
1NTPC Electric Supply Company Ltd. 
(incl. its Joint Venture Kinesco Power and Utilities Private Ltd. with 50% holding)
100.00
2NTPC Vidyut Vyapar Nigam Ltd.100.00
3NTPC Hydro Ltd. (under amalgamation with NTPC Ltd.)100.00
4Kanti Bijlee Utpadan Nigam Ltd.65.00
5Bhartiya Rail Bijlee Company Ltd.74.00
b)Joint venture Companies
1Utility Powertech Ltd.50.00
2NTPC Alstom Power Services Private Ltd.50.00
3NTPC SAIL Power Company Private Ltd.*50.00
4NTPC-Tamilnadu Energy Company Ltd.50.00
5Aravali Power Company Private Ltd.50.00
6Ratnagiri Gas and Power Private Ltd.*33.41
7Meja Urja Nigam Private Ltd.50.00
8NTPC-BHEL Power Projects Private Ltd.*50.00
9BF-NTPC Energy Systems Ltd.*49.00
10Nabinagar Power Generating Company Private Ltd.50.00
11National Power Exchange Ltd.*16.67
12NTPC-SCCL Global Ventures Private Ltd.*50.00
13International Coal Ventures Private Ltd.*14.28
14Transformers and Electricals Kerala Ltd.44.60
15Energy Efficiency Services Ltd.*25.00
16National High Power Test Laboratory Private Ltd.20.00
17CIL-NTPC Urja Pvt.Ltd.*50.00
18Anushakti Vidhyut Nigam Ltd.*49.00
19Pan-Asian Renewables Private Ltd.*50.00
20Trincomalee Power Company Ltd.*50.00
21Bangladesh -India Friendship Power Company Private Ltd.$50.00
All the above companies are incorporated in India except company at Sl.No.20 and 21 which are incorporated in Srilanka and Bangladesh respectively.
* The financial statements are un-audited.
$ No investment has been made as at 31st March 2013. Further, there were no financial transactions during the year.

 

3. a) The Central Electricity Regulatory Commission (CERC) notified the Tariff Regulations, 2009 in January 2009, and First, Second and Third Amendments thereto in May 2011, June 2011 and December 2012 respectively (Regulations, 2009). In line with the Regulations, 2009, the CERC has issued provisional/final tariff orders w.e.f. 1stApril 2009 for all the stations except for Talcher Thermal Power Station (TTPS). Beneficiaries are billed in accordance with the said provisional/final tariff orders except for three stations where it is done on provisional basis. The amount billed for the year ended 31st March 2013 on this basis is Rupee 61,79,468 lakh (previous year Rupee 59,96,557 lakh).

b) In respect of stations for which the CERC has issued final tariff orders under the Regulations, 2009, and Renewable Energy Regulations, 2009, sales have been recognised at Rupee 54,58,881 lakh for the year ended 31stMarch 2013 (previous year Rupee 55,53,741 lakh) after truing up capital expenditure to arrive at the capacity charges. For other stations, pending determination of station-wise tariff by the CERC, sales have been provisionally recognized at Rupee 8,05,966 lakh for the year ended 31st March 2013 (previous year Rupee 5,14,538 lakh) on the basis of principles enunciated in the said Regulations, 2009 after truing up capital expenditure to arrive at the capacity charges.

c) Sales include Rupee 1,24,190 lakh for the year ended 31st March 2013 (previous year Rupee 54,778 lakh) pertaining to previous years recognized based on the orders issued by the CERC/Appellate Tribunal for Electricity (APTEL).

d) The Company aggrieved over many of the issues as considered by the CERC in the tariff orders for its stations for the period 2004-09 had filed appeals with the APTEL. The APTEL disposed off the appeals favourably directing the CERC to revise the tariff orders as per directions and methodology given. Some of the issues decided in favour of the Company by the APTEL were challenged by CERC in the Hon'ble Supreme Court of India. Subsequently, CERC has issued revised tariff orders for all the stations except one for the period 2004-09, considering the judgment of APTEL subject to disposal of appeals pending before the Hon'ble Supreme Court of India. Consequently, the impact of the aforesaid issues amounting to (-) Rupee 4,595 lakh has been recognised as sales for the year ended 31st March 2013 (previous year (-) Rupee 4,916 lakh) with corresponding adjustment in 'Provision for tariff adjustment'.

e) Sales include Rupee 24,604 lakh for the year ended 31st March 2013 (previous year (-) Rupee 26,614 lakh) on account of income tax recoverable from the beneficiaries as per Regulations, 2004. Sales also include Rupee 5,316 lakh for the year ended 31st March 2013 (previous year Rupee 3,777 lakh) on account of deferred tax materialized which is recoverable from beneficiaries as per Regulations, 2009.

4. Provision for current tax for the year includes tax related to earlier years amounting to (-) Rupee 15,885 lakh (previous year Rupee 15,484 lakh).

5. During the year, one unit of 500 MW at Farakka w.e.f 4th April 2012, one unit of 660 MW at Sipat w.e.f. 25th May 2012, one unit of 660 MW at Sipat w.e.f. 1st August 2012, one unit of 500 MW at Simhadri w.e.f 30th September 2012, one unit of 500 MW at Rihand w.e.f 19th November 2012, one unit of 500 MW at Vindhyachal w.e.f 1st March 2013, one unit of 500 MW at Mauda w.e.f 13th March 2013 have been declared commercial. Further, 5 MW Solar PV Power Station at Dadri w.e.f 30th March 2013 and 5 MW Solar PV Power Station at Andaman & Nicobar Islands w.e.f. 31st March 2013 have also been declared commercial.

6. Vide gazette notification F No.22021/1/2008-CRC/II dated 30.12.2011 issued by Ministry of Coal (MoC), grading and pricing of non-coking coal was migrated from Useful Heat Value (UHV) to Gross Calorific Value (GCV) based system w.e.f. 1st January 2012. The Coal Supply Agreements (CSAs) entered into by the Company were required to be amended to incorporate acceptable procedures for sample collection, preparation, testing and analysis, to facilitate such migration, which are still pending. The Company's Board of Directors approved payments to the coal companies based on the GCV based pricing system, and directed to frame modalities for implementation of GCV based grading system. Accordingly, modalities were framed to effect joint sampling and testing of coal at mine end/station end and future payments to coal companies. The above modalities were communicated to the coal companies w.e.f. October/ November 2012, thereafter the Company released payments on the basis of GCV measured at station end following the implementation of the said modalities since variation in the GCV of coal supplied and received at power stations was noticed. The Company regularly informed coal companies about this variation which has not been accepted by them. The issue has been taken up with the coal companies directly and through the MoP and MoC, GOI for resolution. Pending resolution of the issue, difference between the amount billed by the coal companies and the amount admitted by the company amounting to Rupee 2,53,110 lakh (previous year RupeeNil) has been disclosed as contingent liability with corresponding possible reimbursements from the beneficiaries.

7. Government of India, Ministry of Power vide its letters F.No.6/1/2007-Fin.(Vol.VIII) dated 5th February 2013 and 29th March 2013 directed Government of National Capital Territory of Delhi (GNCTD) to release payment towards settlement of dues of erstwhile Delhi Electric Supply Undertaking (DESU) amounting to Rupee 83,597 lakh as principal and Rupee 1,68,411 lakh as interest to the company. Consequently, provision for doubtful debt of Rupee 83,597 lakh has been written back and interest of Rupee 1,68,411 lakh has been recognised as an exceptional item in the Statement of Profit and Loss during the year.

8. Ministry of Corporate Affairs, Government of India through Circular no. 25/2012 dated 9th August 2012 has clarified that para 6 of Accounting Standard (AS) 11 and para 4 (e) of AS 16 shall not apply to a Company which is applying para 46-A of AS 11. Accordingly, Company has modifed the related accounting policies. Consequently, exchange differences arising on settlement/translation of foreign currency loans to the extent regarded as an adjustment to interest costs as per para 4 (e) of AS 16 and hitherto charged to Statement of Profit and Loss, have now been adjusted in the cost of related assets. As a result, profit for the year ended 31st March 2013 is higher by Rupee 1,480 lakh, fixed assets are higher by Rupee 17,356 lakh and Deferred Income from Foreign Currency Fluctuation is higher by Rupee 15,876 lakh.

9. During the year, the Company reviewed its policy for accounting of carpet coal which was hitherto charged to the Statement of Profit and Loss and capitalised the cost of carpet coal with the coal handling plant. Consequently, tangible assets and profit for the year are higher by Rupee 2,036 lakh.

10. Claims recoverables include Rupee 89,472 lakh (previous year Rupee 76,612 lakh) towards the cost incurred upto 31stMarch 2013 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. This includes Rupee10,965 lakhs (previous year Nil) in respect of two arbitration awards challenged / being challenged by the Company before High Court. In the event the High Court grants relief to the Company, the amount will be adjusted against Short Term Provisions - Others. Management expects that the total cost incurred, anticipated expenditure on the safety and stabilisation measures, other recurring site expenses and interest costs as well as claims of various packages of contractors/vendors for this project will be compensated in full by the GOI. Hence no provision is considered necessary.

11. During the quarter, Government of India has divested 9.50% of the paid up equity capital of the Company by way of offer for sale through stock exchange mechanism as provided by SEBI circular CIR/MRD/DP/18/2012 dated 18th July 2012 and circular no. CIR/MRD/DP/04/2013 dated 25th January 2013.

12. During the quarter, the Company has paid an interim dividend of Rupee 3.75 per equity share (face value Rupee 10/-each) for the year 2012-13. The Board of Directors has recommended final dividend of Rupee 2.00 per share (including special dividend of Rupee 1.25) (face value Rupee 10/- each). The total dividend (including interim dividend) for the financial year 2012-13 is Rupee 4.50 per share (face value Rupee 10/-each) and special dividend of Rupee 1.25 per share (face value Rupee10/-each).

13. The audited accounts are subject to review by Comptroller and Auditor General of India under Section 619(4) of the Companies Act, 1956.

14. 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).

15. Previous periods/years figures have been regrouped/rearranged wherever necessary.

16. Figures of last quarter are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the current financial year.

For and on behalf of Board of Directors

Place: New Delhi
Date: 10th May 2013

sd/-
(A.K.SINGHAL)
DIRECTOR (FINANCE)