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एनएलसी इंडिया निदेशकों की रिपोर्ट, एनएलसी इंडिया निर्देशकों द्वारा रिपोर्ट

एनएलसी इंडिया

बीएसई: 513683  |  NSE: NLCINDIA  |  ISIN: INE589A01014  |  Power - Generation & Distribution

खोजें एनएलसी इंडिया कनेक्शन Mar 18
निदेशकों की रिपोर्ट वर्षांत : Mar '19

Dear Members,

The Board of Directors have pleasure to present the 63rd Directors’ Report on the business operations of the Company together with the Audited Financial Statements for the year ended 31st March, 2019.

Major Highlights

The major highlights during the year 2018-19 were as follows:

- Achieved the highest ever Consolidated Capex of Rs. 7208.16 crore and Standalone Capex of Rs.3670.01 crore.

- Solar Power Projects to the tune of 403.56 MW have been commissioned during the year.

- Achievement of Thermal Plant Load Factor (PLF) of 71.95 % against the National Average of 61.07%.

- Buy-back of equity shares comprising 9.29% of the paid-up capital at a price of Rs. 88 per share.

- Synchronisation of Unit 1 -500 MW of Neyveli New Thermal Power Station (NNTPS) in March 2019, the first of its kind for this capacity in Lignite based Thermal plants in India.

- Wage revision for Non-executives implemented without third-party intervention for the first time since inception.

- Power Trading License (Category I) for trading of Power has been granted by CERC.

- Power sold to DISCOMs at a competitive tariff.

Segment-wise Performance Mines

Your Company is presently operating three open cast lignite Mines at Neyveli in the State of Tamil Nadu and one opencast lignite Mine at Barsingsar in the State of Rajasthan. The total mining capacity of all the mines is 30.60 MTPA. The total overburden (OB) removal of 1708.94 Lakh Cubic Metre (LM3) and Lignite Production of 242.49 Lakh Tonne (LT) has been achieved during the year 2018-19.

Power

Thermal

Your Company is presently operating four Thermal Power Stations at Neyveli, Tamil Nadu and one Thermal Power Station at Barsingsar, Rajasthan with the total capacity of 3140 Mega Watt (MW).

Renewable Power

In the renewable energy sector, as on date your Company has set up Solar Power Plants aggregating 743.56 MW and Wind Power Plant of 51 MW, in total 794.56 MW.

Power Generation

During the year, the total Power Generation (Gross) of 20676.18 Million Units (MU) and Power Export of 17505.30 MU has been achieved in spite of Power surrender of 1891.47 MU witnessed from State DISCOMs.

The average Plant Load Factor (PLF) of the Thermal Power Plants of the Company as a whole during the year 2018-19 was 71.95% as against the National Average of 61.07%. Even though TPS-I crossed 58 years of operation, it has achieved a PLF of 64.74%. During the year 2018-19, DISCOMs had surrendered 1891.47 MU as against 2567.28 MU during 2017-18 but for this the overall power generation would have been still higher.

One of the 100 MW Units of Thermal Power Station-I (600 MW), was de-commissioned in September 2018. Productivity

The output per man shift achieved during the year 2018-19 as compared with the previous year is given below:

Product

Unit

2018-19

2017-18

Lignite

Tonne

14.11

13.14

Power

KWhr

26,197

24,755

Financial Performance

During the year ended 31st March, 2019, the Company had registered a revenue from operations of Rs. 7,145.92 crore as against Rs. 8,496.20 crore during the year2017-18.The Profit Before Tax (PBT) and Profit After Tax (PAT) for the year 2018-19 were Rs. 2,135.87 crore and Rs. 1,266.97 crore respectively, as against Rs. 2,640.67 crore and Rs. 1,848.78 crore respectively during the previous year ended 31stMarch, 2018.

On a Consolidated basis, the total revenue from operations for the year 2018-19, was Rs. 9,870.93 crore against Rs. 11,288.39 crore in 2017-18. The PBT and PAT for the year 2018-19 were Rs. 2,561.40 crore and Rs. 1,537.35 crore respectively as against Rs. 2,820.67 crore and Rs.1,956.78 crore respectively in the year 2017-18.

The details of profit earned for the financial year 2018-19 and appropriation of the same are as follows:

Rs. in crore

Particulars

Standalone

Consolidated

2018-19

2017-18

2018-19

2017-18

Revenue from operations

7,145.92

8,496.20

9,870.93

11,288.39

Profit Before Tax

2,135.87

2,640.67

2,561.40

2,820.67

Tax Provision

868.90

791.89

1,024.05

863.89

Profit /(Loss) for the year after tax (PAT)

1,266.97

1,848.78

1,537.35

1,956.78

Appropriation

Transfer (to) / from Interest Differential Fund Reserve

(8.07)

(12.28)

(8.07)

(12.28)

Transfer (to) / from Bond Redemption Reserve

150.00

(15.00)

150.00

(15.00)

Transfer (to) / from PRMA Reserve Fund

(16.83)

(10.87)

(16.83)

(10.87)

Transfer (to) / from Contingency Reserve

(10.00)

(10.00)

(10.00)

(10.00)

Transfer (to) / from Capital Redemption Reserve

(141.93)

-

(141.93)

-

Buy back Premium

(1,107.07)

-

(1,107.07)

-

Dividend (Interim 2018-19 & Final 2017-18)

(669.42)

(646.58)

(669.42)

(648.99)

Tax on Dividend

(137.60)

(127.67)

(137.60)

(132.12)

Dividend

During the year 2018-19, the Board of Directors of your Company paid an Interim Dividend of 45.30% (Rs. 4.53 per equity share) amounting to Rs. 628.15 crore and the same has been treated as the Dividend for the year 2018-19.

Buy-back of shares by the Company

During the year under review, the Board of Directors of your Company had accorded approval for buy-back of shares of the Company up to 14,19,31,818 equity shares at Rs. 88 per equity share. As per the above decisions, 14,19,31,818 number of equity shares were bought back which included 11,26,11,825 shares offered by the President of India. The Paid-up share Capital of the Company post buy-back was Rs.1386,63,66,090.

Projects under Construction / Implementation / Formulation

The following Projects are under implementation:

Mining Sector

Description

Capacity (MTPA)

Project Cost (Rs. in crore)

Cumulative Capex as on 31st March, 2019 (Rs. in crore)

Expected COD / Status

Talabira II & III Coal Blocks in Odisha

20.00

2,401.07

466.79

2019-20

Expansion of Mine I & IA Lignite Mines in Neyveli

4.00

709.06

434.45

2020-21

Bithnok Lignite Mine in Rajasthan

2.25

513.63

175.30

Presently on hold

Hadla Lignite Mine in Rajasthan

1.90

522.45

9.88

Power Sector

Description

Capacity (MW)

Project Cost (Rs. in crore)

Cumulative Capex as on 31st March, 2019 (Rs. in crore)

Expected COD / Status

Neyveli New Thermal Power Project (NNTPP) in Neyveli

2x500

7,080.41

6,318.20

2019-20

Bithnok Lignite Thermal Power Project in Rajasthan

1x250

2,196.30

173.83

Presently on hold

Barsingsar Thermal Power Extn. Project in Rajasthan

1x250

2,112.59

158.25

Renewable Sector

Description

Capacity (MW)

Project Cost (Rs. in crore)

Cumulative Capex as on 31st March, 2019 (Rs. in crore)

Expected COD / Status

Solar Power Project in Tamilnadu

709

3,035.93

1,523.70

2019-20

Solar Power Project in Andaman Islands

20

130.77

38.51

2019-20

Subsidiaries/Joint Venture Projects

NLC Tamil Nadu Power Limited (NTPL) - Tuticorin Power Project (1000 MW)

Members may be aware that NTPL, the Subsidiary Company is operating a coal based thermal power plant at Tuticorin in Tamil Nadu, consisting of two units of 500 MW capacity each. During the year 2018-19, the power generation was 5,486.63 MU (excluding surrender of 1,449.35 MU) as against 5,413 MU in the year 2017-18 with a PLF of 62.63%. The reduction in generation was mainly attributable to the failure of Generator in Unit 2.

During the year ended 31st March, 2019, NTPL in its full year of operation registered a revenue from operations of Rs.. 2,757.52 crore and the Profit Before Tax & Profit After Tax for the year 2018-19 were Rs. 425.89 crore and Rs.270.74 crore respectively.

Neyveli Uttar Pradesh Power Limited (NUPPL) - Ghatampur Thermal Power Project (1980 MW -3x660 MW) linked to Pachwara South Coal Block

As stated in earlier Directors’ Report, NUPPL, the Subsidiary Company is implementing the 3 x 660 MW Ghatampur coal based Thermal Power Project (GTPP) at GhatampurTehsil, Kanpur Nagar District in the State of Uttar Pradesh at a cost of Rs.. 17,237.80 crore with commissioning schedule of Unit I in November, 2020, followed by other two units at an interval of 6 months each. The Company had signed a Power Purchase Agreement (PPA) with Uttar Pradesh Power Corporation Limited (UPPCL) for availing 75% of the Power from GTPP. Further to the request made, UPPCL has agreed to procure the balance 25% of power and the same is under the process of approval from the Ministry of Power. The Project has achieved a CAPEX of Rs.. 3,517.82 crore in the year 2018-19. The cumulative expenditure incurred since inception up to 31st March 2019 is Rs. 5,674.03 crore.

Pachwara South Coal Block (11.00 MTPA)

NUPPL, the Subsidiary of your Company has been allotted with the Pachwara South Coal Block, in the State of Jharkhand, with a capacity of 11.00 MTPAat an estimated cost of Rs.. 1,795 crore.

In order to develop and operate the above Coal Blocks, MIPL GCL Infracontract Private Limited has been appointed as the Mine Developer & Operator (MDO). Detailed exploration & drilling (10,000 Mtr), geographical logging, analysis & preparation of geological report are under progress. Bridge Coal Linkage to GhatampurThermal Power Project (GTPP) for 3 years (2020-2023) has been submitted to Ministry of Coal. The cumulative expenditure incurred up to 31st March 2019 was Rs. 5.94 crore.

MNH Shakti Limited

Mahanadi Coalfields Limited, your Company and Hindalco jointly formed MNH Shakti Limited with equity participation of 70:15:15 to implement 20.0 MTPA Coal Mining project in Talabira, in the state of Odisha. The Talabira II & III Coal Blocks allocated for this purpose have been cancelled pursuant to judgment of Hon’ble Supreme Court of India and the Coal Mines (Special Provisions) Ordinance, 2014. The JV Company has proposed for winding up and necessary formalities are underway.

Loans, Guarantees and Investments

Details of loans and investments covered under the provisions of Section 186 of the Companies Act, 2013 forms part of the Financial Statements.

Deposits

The Company has not accepted any deposits from the public during the year.

Bonds

During the Financial year 2018-19, 8.83% Secured, Redeemable, Taxable, Non-convertible Debentures of Rs.. 10 lakh each aggregating to Rs. 600 crore raised during the year 2009 were redeemed on 23rd January 2019 as per the terms of allotment.

Secured, Non-Cumulative, Non-Convertible, Redeemable, Taxable Bonds of Rs.. 10 lakh each for a tenure of 10 years at coupon rate of 8.09% p.a.in the nature of debentures through Private placement amounting to Rs. 1,475 crore has been issued on 29th May 2019.

Borrowing & Credit Rating

During the year, your Company has tied up for an amount of Rs.. 6,053.75 crore from the Banks for its ongoing projects and operational requirements.

Highest credit ratings (AAA/Stable) have been accredited by top Credit Rating Agencies for all of its existing borrowing facilities obtained for various projects by your Company.

Commercial

As stated earlier, the power surrendered by the DISCOMs/ Beneficiaries during the year 2018-19 was1,891.47 MU as against 2,567.28 MU in the year 2017-18. Power surrender is due to lesser demand conditions, availability of cheaper power in the market etc. However, your Company has sold Un-requisitioned Surplus (URS) power in the market and during the year under review 980.35 MU of surrendered power were sold through power exchanges, thereby fetching a revenue of Rs.. 288.45 crore.

Power Dues / Realisation

The outstanding power dues of the Company as on 31st March, 2019 was Rs. 5,131.32 crore as against Rs. 3,644.76 crore for the corresponding period of the year ended 31st March, 2018. The dues beyond the 60 days’ limit as on 31st March, 2019 was Rs. 3,972.90 crore as against Rs. 2,161.18 crore for the corresponding period of the previous year ended 31stMarch, 2018.

Land Acquisition and Rehabilitation & Re-settlement (R & R) Policy

Your Company takes care of the Project Affected Persons (PAPs) through appropriate R & R Policy measures and the trauma of displacement is thereby minimised. Your Company follows the guidelines issued by the Government of India, from time to time on R&R for the on-going projects. Apart from development of Re-settlement Centres (RCs) in the Project vicinity, these centres are being provided with good infrastructure facilities. As a result, the eligible project affected families have smoothly re-settled in these RCs.Apart from the rehabilitation measures, legal compensation for loss of assets as directed by the appropriate Government have been provided with the co-operation of the District administration. Peripheral developmental works viz., formation and improvement of existing village roads, skill development programmes for PAPs have been carried out during the year.

New Land Acquisition Act

The “Right to Fair Compensation and Transparency in Land Acquisition Rehabilitation and Resettlement Act - 2013” (RFCTLARR) is applicable since 01.01.2014. However, the Govt. Of Tamilnadu had passed an amendment act-”Right to Fair Compensation and Transparency in Land Acquisition Rehabilitation and Resettlement (Tamil Nadu Amendment)Act-2014, to exclude the Tamilnadu Acquisition of Land for Industrial purposes Act, 1997 (TamilNadu Act No.10/99)” from other provisions of the Central Act, except the provisions relating to the determination of the compensation and rehabilitation & resettlement and land acquisition for NLCIL is continued under “Tamil Nadu Acquisition of Land for Industrial purposes Act, 1997 (Tamilnadu Act No.10/99).”

Subsequently a G.O. dated 21.02.2018 has been issued by Industries Department of GoTN for determination of land compensation as per the RFCTLARR Act 30/2013 by adopting the provisions of Land compensation as per Schedule 1 for the lands being acquired under the above State Government Act.

Research and Development (R & D)

Centre for Applied Research & Development (CARD) is the in-house R&D Centre of the Company and has been recognised by the Department of Science & Technology. CARD is carrying out various activities relating to environmental measures like monitoring of air, water and soil dump. CARD renders analytical services to production / service units of the Company with its well-established analytical facilities. CARD has been granted NABL accreditation by National Accreditation Board for Testing and Calibration Laboratories (NABL) based on the International Standard ISO/IEC 17025:2005.

The total R&D expenditure, incurred during the year 2018-19 was Rs.16.79 crore.

Human Resource

Your Company takes pride in its competent and highly motivated human resources significantly contributing to the growth and Mission of the Company. Human resource is the backbone of the Company in driving operational and financial performance. The Human resource philosophy of your Company is to create a holistic work environment where employees get opportunities to realise and enhance their potential. The thrust on achieving higher growth and optimal utilisation of manpower continued in the year under review. The total manpower of the Company as on 31st March, 2019 stood at 13,464. During the year 2018-19, the major HR related activities were as under:

- As per revised DPE Guidelines on professionalizations of below Board Level Management and action plan was chalked out.

- Voluntary Retirement Scheme was rolled out in which 78 Executives and 67 Non-Executives opted and benefitted.

- On-boarding Policy for new hires was revamped to groom inductees to take up greater responsibilities.

Skill Development

Your Company fosters the culture of continuous learning and development to strengthen the potential & competency of its employees. Learning & Development Centre (L&DC) continuously strives to gleam the in-house talents and espouse latest technological breed for the betterment of your Company’s business progression. During the year, 770 in-house programmes covering 32,803 participants were organised. Total training man-days for executives was 31,940 days averaging 8.01 training man-days, for non-unionised supervisors 1,836.5 training man-days averaging 5.27 man-days and for non-executives was 25,292 training man-days averaging 4.37 man-days per person.

In addition to above, Apprentices were also given Training as per Statutory Guidelines of the Regional Director of Apprenticeship Training, Chennai (RDAT) and the Board of Apprenticeship Training (BOAT) of Southern Region, Chennai. During the year 2018-19,1,318 candidates were imparted trainings in various disciplines.

Industry Institution Interaction Programme

As part of the MoU entered into with Annamalai University, L&DC is serving as nodal centre and facilitating the infrastructure facility and faculty service for conducting the programme and around 46 Executives are pursuing the course.

During the year, Vocational Project Training was given to 352 Mining & 89 Geology students from various parts of India. Internship Training was offered to 441 students of various disciplines of UG and 167 students of various disciplines of PG courses.

Knowledge Management Initiatives

Your Company is ranked in the top 8 contributors among 174 participating CPSEs in India in terms of users, uploaded case studies, and documents in SAMANWAY Portal.

Industrial Relations

Your Company continued its faith in participative management and has a regular system of holding bipartite structured meetings with the Recognised Unions (collective bargaining agents)/Associations for addressing the common issues of the employees.

During the year, Memorandum of Understanding (MoU) was reached between the Company and Recognised Trade Unions for Wage Revision w.e.f 01.01.2017. The above MoU was reached Bi-partite without any third party intervention. Further, the periodicity for the settlement is for 10 years as against 5 years as in the past. For the first time, the individual and also the Unit performance have been incorporated in the Unified Incentive Scheme evolved replacing four different Incentive Schemes.

The above settlements were achieved without any strike/agitation which is for the first time in the history of the Company.

The industrial relations remained peaceful and cordial during the year 2018-19.

Reservation of Posts

Your Company follows the reservation policy for SCs, STs and OBCs as per the presidential directives and Government of India Guidelines. The group-wise Men-in-position (MIP) as on 31st March, 2019 stands as follows:

Group

Total

Strength of SC/ST/OBC

% of SC/ST/OBC

Strength

SC

ST

OBC

SC

ST

OBC

A

3,682

777

297

470*

21.10

8.07

12.76*

B

304

58

26

79

19.08

8.55

25.99

C

8,661

1,660

87

2,715

19.17

1.00

31.35

D

817

176

2

448

21.54

0.24

54.83

Total

13,464

2,671

412

3,712

19.84

3.06

27.57

‘strength of OBCs on rolls after reservation for OBCs came in to effect (i.e 08-09-1993).However more than adequate strength of BCs were recruited prior to reservation for OBCs came into effect.

Educational Assistance and Tuition Fee Concession

Your Company implements Educational Assistance schemes to the wards of General, SC/ST, OBC category employees and Contract Workmen for pursuing under graduate Degree / Diploma/ Professional courses till course duration subject to a maximum of five years. Under Contract Workmen Educational Assistance Scheme, scholarships are earmarked exclusively for girl children. Besides, a separate Cash Award Scheme and a Scholarship Scheme under CSR were also provided for the benefit of Girl Children studying in the peripheral districts of Barsingsar Project, Rajasthan.

Your Company also reimburses the tuition fees for students belonging to SC/ST/OBC category studying in Jawahar Science College, Neyveli every year.

Compliance under Persons with Disabilities Act, 2016

Your Company ensures compliance of provisions under the Rights of Persons with Disabilities Act, 2016. A comprehensive policy for Persons with Disabilities (PwDs) as per the guidelines issued by DoPT for providing certain facilities / amenities to PwDs is in place. The strength of PwDs as on 31st March 2019 stood at 208.

Various Social welfare measures for the upliftment of the Physically Challenged and mentally challenged persons are implemented through Neyveli Health Promotion and Social Welfare Society (NHPSWS) and “SNEHA” Opportunity Services patronised by your Company.

- Neyveli Health Promotion and Social Welfare Society (NHPSWS)

Running a school “SHARAVANEE” exclusively for the Hearing Impaired children, retail outlets /provision shops “VAIGAI” and Rehabilitation Centre (RHC) for cane weaving, knitting of wire chairs, repair works of chair seats, office files & book binding works, by engaging disabled persons. Through the society, Tricycles, Wheel chairs, hearing aids etc., are distributed at free of cost to the disabled persons during Independence Day and Republic Day celebrations.

- SNEHA Opportunity Services and School

SNEHA school provides comprehensive rehabilitation services with holistic approach to help children with intellectual disabilities to achieve social, mental, psychological, emotional developments by maximizing their potential. SNEHA achieves the above goal through multi-disciplinary therapeutic intervention involving special educators, speech therapist, physiotherapist, Yoga therapist, Music Therapist, Vocational instructors and medical professionals. At present, 71 children are on roll out of which 53 are from the surrounding villages.

Implementation of Official Language Act, 1963

In line with the Policy of Government of India and the Provisions prescribed under the Official LanguageAct 1963, your Company has made concerted efforts to promote the Official Language and implementation of the Policy. Your Company was awarded 1st Prize in “RAJBHASHA FIELD” for the best performance of the Official Language Implementation among the member offices of Town Official Language Implementation Committee (TOLIC)/ Pondicherry, for the year 2018-19.

Schools

Your Company is presently running 10 Schools catering to the student strength of 5,114 nos. More than 95% of the students studying in these schools are from the peripheral villages, wards of contract employees, daily wages workmen and others who are with very poor means.

Apart from the above, there are 27 schools functioning in Neyveli having student strength of around 23,200. Special coaching is given in one of the schools run by Jawahar Education Society (patronised by your Company) to the students appearing for NEET and IIT JEE Examinations. A good number of students studying in this school are getting admission in IITs/NITs and Medical Colleges every year and 18 students got admission in the medical colleges and 21 students in IITs/NITs/BITS in theyear2018.

Sports Development Centre

Sports Development Centre (SDC) has been promoting sports activities among the Neyveli School students, youth and NLC employees. SDC train Neyveli School students in various disciplines and the students have been sponsored to participate in many tournaments. This has resulted in the form of notable achievements at State, National and even at International level and won various medals/trophies.

Care for Elders

To enhance the recognition of the dignity of the elders and to eliminate all forms of neglect, abuse and violence and to provide a healthy, secured and recreational environment, an elders home in the name of a NANDAILLAM is run by your Company in Neyveli, which can accommodate around 150 elders. The present strength is 47. The employees of your Company also contribute a fixed amount every month from their salaries for running the home.

Health Care

Your Company is on the fore front in aligning the vision of protection, preservation and promotion of health and wellbeing of its workforce with its business plan that support sustainable outcome of the Company and drive higher values to the organization. Your Company’s hospital has a 350 bed secondary level acute care facility for benefitting employees, contract workmen, CISF and their dependents. Availability of quality medical care at secondary level enhances their accessibility to health facility and utilisation of medical services that contribute to achieving sustainable results in Human Development Indices among workforce and their family members in terms of quality of life and longevity. In addition, your Company’s Hospital meets out super specialty care services in cardiology, neurology, nephrology, oncology, endocrinology, urology, haematology, immunology and gastroenterology etc., through empanelling private players on competitive pricing.

Your Company’s Hospital implements Revised National Tuberculosis Control Programme, Universal Immunization Programme, National Aids Control Programme and National Leprosy Eradication Programme by providing clinical support and infrastructure facilities for efficient delivery of these services which determine health outcome of rural population in neighbouring villages with positive results.

Your Company’s Hospital also runs Pradhan Mantri Bharatiya JanAushadhi Store, a Fair price shop within the premises of Hospital.

Forum of Women in Public Sector (WIPS)

WIPS NLCIL chapter was formed in the year 1990 and is a Corporate Life member in SCOPE since 1990.The strength of women employees in your Company as on 31st March 2019 stood at 1004 constituting 7.46% of Company’s human resource. Various programmes/projects undertaken by WIPS during the year 2018-19 were:

- Health awareness programme

- Programme for adolescent girl children

- Swachh Pakhwada programme

Safety

Your Company is taking pioneering efforts in the industrial safety area. Central Safety Wing conducts Risk Assessment and Safety Audit for Thermal Power Stations & Mines periodically by engaging accredited external agencies. The recommendations submitted by the said agencies are being implemented with a focus to achieve ‘Zero’ harm at Unit Level.

Safety related trainings like Basic, Refresher, on-the-job, Job related briefing etc., are being imparted to all sections of employees in well-designed training centres like Group Vocational Training Centre in Mines, Power Station Training Centre and Learning & Development Centre. On this extensive training of various kinds, there is a considerable increase in the level of safety awareness among the employees and contract workers.

Environmental Management & Sustainable Development Projects

Your Company practices and promotes the best environment management plan and is committed to environment friendly mining and power generation. The environment policy of your Company is in line with the Vision and Mission Statement and three Thermal Power Stations in Neyveli, Tami Nadu, one Thermal Power Station in Barsingsar, Rajasthan, three Lignite Mines in Neyveli, Tami Nadu and one lignite Mine at Barsingsar, Rajasthan have been certified with ISO 14001:2004 (Environmental Management System), ISO 9001:2008 (Quality Management System) and OHSAS18001:2007 (Occupational Health and Safety Management System) certifications.

During the year 2018-19, mined out land to the extent of 155.99 Ha have been reclaimed at Neyveli and Barsingsar Mines. Orchards and herbal cultivation have been undertaken in 118.41 Ha in the reclaimed area. Slope stabilisation of the Mines Overburden dumps has been undertaken with a view to convert the mine spoil into cultivable soil making fit for habitation.

In order to maintain the green belt your Company continues to plant extensive trees in and around Neyveli Township and production Units, which helps in maintaining clean environment, dust suppression, noise control, lowering the atmospheric temperature and maintaining ecological balance.

Consequent to the amendment of Environment (Protection) Rules, 1986, the norms for water consumption and emissions from Power Plants [Particulate Matter(PM 2.5 & PM10), Sulphur dioxide (SO2), Oxides of Nitrogen (NOx) & Mercury (Hg)] have been made stringent for the existing as well as new Thermal Power Plants. In this regard, tender for installation of Flue Gas De-sulphurisation (FGD) Systems is in progress.

Risk Management

Your Company has developed a comprehensive Integrated Risk Management (IRM) framework. Risk Management is being practised by your Company in all units and the possible risks associated with the business are identified and mitigation plans are evolved. The risks together with the mitigation plans and their implementation programmes are reviewed by the Risk Management Committee, Audit Committee and Board periodically.

Vigilance

The activities undertaken by the Vigilance Department are pro-active, preventive & punitive and other measures to sensitize the employees of the Company. Complaints received in the department are dealt as per the “Complaint Handling Policy” and are processed using the Complaint Tracking System (CTS) from receipt upto disposal. As a preventive measure, Surprise Checks, Regular Checks, Quality Checks, Follow-up Checks and CTE type examinations are conducted. Integrity Pact with the suppliers/contractors for all Tenders with estimate of Rs.. 1 crore and above are monitored and review meetings of Independent External Monitors (IEMs) with senior officials of the Company are held once in a quarter and IEMs meet with vendors and contractors are held once in a year.

As a long term measure, Vigilance Department has introduced “Ethical Forum/ Integrity Club” in Schools and Colleges around Neyveli, Tuticorin and at Barsingsar, Rajasthan, to impact ethical awareness and ethical character education programme to the School students. Around 2,800 students have enrolled in the Ethical Forum/ Integrity Club. The objective of the programme is to bring a higher order of Morality, Integrity Honesty and Social Responsibility among young citizens.

During the year 2018-19, Vigilance Department received 305 complaints in addition to 10 pending complaints of previous year (totally 315 complaints). Out of 315 complaints, 312 (99%) have been disposed of. Out of that 312 complaints disposed, 195 complaints were Anonymous/Pseudonymous, 60 complaints have been sent for administrative action to the respective units and investigation was done for 57 complaints by Vigilance Department and disposed off.

MoU with Transparency International

Your Company has signed a Memorandum of Understanding with Transparency International India, part of Asia Pacific forum. Structured meetings are held with the Independent External Monitors (IEMs) wherein procurement related issues and complaints thereupon are taken up. During the year 2018-19, one Vendor meeting and two review meetings of the Independent External Monitors were held.

Corporate Social Responsibility

Your Company, as a socially responsible corporate citizen, continues to carry out developmental works in the surrounding villages, right from its inception, focusing on the socio-economic development of the operating regions for achieving inclusive growth.

- In the Year 2018-19, Your Company had adopted a Corporate Social Responsibility Policy covering the various sectors of sustainable socio-economic development. The Policy is available in the Company’s Website https://www.nlcindia.com/new_website/index.htm

- Your Company outlays funds for the CSR projects, programs and activities selected for implementation under the CSR Policy.

- The CSR Committee of the Board is monitoring the implementation of the CSR Projects. The Board of Directors reviews the same and it is ensured that your Company spends, in every financial year, at least 2% of the average net profits of the Company for the last three years.

- Timeframes and milestones are fixed through Baseline Survey before commencement of the CSR Projects.

- Initiatives of State/ Central Government Departments/Agencies are dovetailed/synergized with the CSR Activities of your Company.

The CSR projects taken up by your Company for the year 2018-19 amounts to Rs. 49.46 crore which is more than 2% of the average net profits of the Company for the last three years, as detailed inAnnexure-1

Awards & Recognition

In recognition of its various activities, your Company has been conferred with the following awards during the year 2018-19:

- Prestigious “Brands of the Decade” award, in recognition of its Vision and Mission in accordance with an exigent business model for massive expansion projects spreading across India.

- Apex India CSR Excellence Award for its outstanding achievement in Corporate Social Responsibility at the Apex India ExcellenceAwards2017 presentation.

- Adjudged as the fastest growing Public Sector Enterprise (Navratna Category) by the Hindustan times group based on a study/survey by Price Waterhouse Cooper under the Navratna Category.

- Bagged the prestigious Dun & Bradstreet PSU Award 2018 in the Best Growth Performance - Power Generation category.

- Bagged the most prestigious NIPM Award for Best HR Practices in category A Organisations, NIPM Best IR Strategist Award and Best Development Programme in PSU for Middle Management at World HRD Congress, Mumbai.

- Neyveli Second Thermal Power Station conferred with the coveted CBIP Award 2019 at the Central Board of Irrigation & Power (CBIP) Day Celebration for best performing Utility in Thermal Power Sector.

- Platinum and Gold awards from GROW CARE INDIA& EKDKN supported by MoEF & CC, Government of India for Eco-care activities of Environment Management and Sustainability.

- Mine I was chosen for the National Safety Award for the longest accident free period and outstanding safety performance.

- Mine I was awarded “Annual GREENTECH Safety Award - 2018 (Gold)” in Mining sector for outstanding performance in Safety Management and Occupational Health Services.

- Barsingsar Lignite Mine won first prize in overall safety performance in the North Zone, Bhilwara.

- Best Enterprise Award 2019 instituted by National WIPS Forum.

- Best Development Progamme in PSUs for Middle Management and Best Apprentices Development Programme. Compliance under the Right to Information Act, 2005

Your Company ensures compliance under the Right to Information Act, 2005. Central Assistant Public Information Officers representing different functional areas, Nodal Officer, Central Public Information Officer, Appellate Authority and Transparency Officer have been nominated to attend to the queries and appeals received underthe RTI act in a time bound manner.

During the year 2018-19, under the above Act, 376 applications containing 1515 queries were received and 359 applications covering 1433 queries have been replied.

Compliance under Public Procurement Policy

The Ministry of Micro, Small and Medium Enterprises (MSMEs) has notified the Public Procurement Policy and in terms of the notification issued has set an annual target of 20% for procurement from MSMEs for the three years beginning from the financial year 2012-13. After a period of three years i.e. from 1st April, 2015, overall procurement goal of minimum 20% is made mandatory. The target set for the financial year 2017-18 for procurement of such items which are within the scope of MSMEs was 20% and subsequently the same was amended as 25% as per Govt. gazette notification dated 09.11.2018. As against the above, the achievement made for the year 2018-19 was 28.24%.

Citizen’s Charter

Your Company maintains Citizen’s Charter, indicating details of clients, customers under different heads, different system of redressal of grievance etc., and the same is regularly updated.

Conservation of Energy, Technology absorption and Foreign Exchange Earnings and Outgo

The particulars required under Section 134(3) (m) of the Companies Act,2013 regarding conservation of energy, technology absorption and Foreign exchange earnings and outgo are furnished inAnnexure-2.

Management Discussion &Analysis Report and Report on Corporate Governance

The Management Discussion & Analysis Report is furnished in Annexure-3. The report on Corporate Governance on the compliance of Corporate Governance conditions stipulated by SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 and the DPE guidelines on Corporate Governance is furnished inAnnexure-4.

The Auditors’ Certificate on the Compliance of above Corporate Governance Conditions is furnished inAnnexure-5.

Statutory Disclosures under Companies Act, 2013 and SEBI (LODR) Regulations, 2015 Extract of annual Return

The extract of annual Return in terms of Section 134(3) read with 92(3) of the Companies Act,2013 is placed in Annexure-6.

Particulars of Contracts or Arrangements with Related Parties

All related party transactions entered during the year 2018-19 were in ordinary course of the business and are on an arm’s length basis. The disclosure of related party transactions as required under Section 134(3)(h) of the Companies Act, 2013 in FormAOC2 is not applicable to your Company. Members may refer to note no. 42 to the financial statement which sets out related party disclosures pursuant to INDAS-24.

Declaration by Independent Directors

The Independent Directors have given a declaration on meeting the criteria of independence as stipulated in Section 149(6) of the Companies Act, 2013.

Particulars of Employees

Particulars of Employees as required under Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules,2014-Nil.

Disclosures with respect to demat suspense account/unclaimed suspense account in terms of SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015.

During the year, 200 shares lying unclaimed in the demat suspense account / unclaimed suspense account was claimed by the Claimant. As on 31st March, 2019, there were no shares pending unclaimed in the demat suspense account/unclaimed suspense account.

Material changes affecting financial position occurring between the end date of Financial year and the date of the Report.

There are no Material Changes affecting the financial position of the Company between the end of the Financial Year and till the signing of financials i.e. 30.05.2019.

Sexual harassment of women at workplace

A separate Committee has been constituted for looking into the complaints relating to sexual harassment of women at workplace. During the year 2018-19, no complaint was received in this regard.

Auditors

Statutory Audit

M/s.Chandran & Raman, Chartered Accountants, Chennai and M/s.P.K.K.G. Balasubramaniam & Associates, Chartered Accountants, Tiruvannamalai were appointed by the Comptroller and Auditor General of India (C&AG) as the Joint Statutory Auditors for the year 2018-19 under Section 139 of the Companies Act,2013.The Board of Directors of your Company has fixed Rs. 30 lakh plus applicable taxes as the Statutory Audit fees, to be shared equally by the Joint Statutory Auditors.

Branch Audit

M/s.Bhandawat & Co., Chartered Accountants, Jaipur has been appointed as the Branch Auditor for the year 2018-19 by C&AG for conducting the audit of Mine and Thermal Units at Barsingsar. The Board of Directors of the Company has fixed Rs. 2.5 lakh plus taxes as the Branch Audit fees for the year 2018-19.

Secretarial Audit

M/s.A.K. Jain &Associates, Practicing Company Secretaries, Chennai was appointed as the Secretarial Auditor for the year 2018-19.The Secretarial Audit report for the year 2018-19 and the reply to observations of the Secretarial Auditors are furnished inAnnexure-7.

Cost Audit

M/s.Bandyopadhyaya Bhaumik & Co, Kolkata was appointed as the Cost Auditor for the year 2018-19 to conduct cost audit for Mines & Power Stations of the Company. The cost audit report for the year 2017-18 was filed with Ministry of Corporate Affairs on 10th October 2018 against the due date of 19th October 2018.

C&AG’s Comments

C&AG’s Comments on the accounts for the year ended 31st March, 2019 is furnished inAnnexure - 8.

Directors’ Responsibility Statement as per Section 134(3)(c) of the Companies Act, 2013

The Board of Directors declares that:

(a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

(b) the Directors had selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit and loss of the Company for that period;

(c) the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

(d) the Directors had prepared the annual accounts on a going concern basis;

(e) the Directors, had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively; and

(f) the Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

Board of Directors Appointment

Shri. Rakesh Kumar, Director (Finance) & Chief Financial Officer was appointed as the Chairman-cum-Managing Director, w.e.f. 28.09.2018. Presently, Shri Rakesh Kumar also holds Additional Charge of Director (Finance) & Chief Financial Officer of the Company.

The following were appointed as the Directors on the Board of the Company:

a. Shri. Nadella Naga Maheswar Rao, Director (Projects and Planning) w.e.f. 29.06.2018.

b. Shri. Md.Nasimuddin, Principal Secretary to Government of Tamilnadu, Energy Department, Part-time Official Director w.e.f. 24.09.2018.

c. Shri. K.Madhavan Nairand Shri.Azad Singh Toor, Independent Directors w.e.f. 17.11.2018

d. Shri. Prabhakar Chowki, Director (Mines) w.e.f. 28.11.2018.

e. Dr. P. Vishnu Dev, Independent Director w.e.f. 19.12.2018.

f. Shri. Shaji John, Director (Power) w.e.f. 17.04.2019.

g. Shri. Vinod KumarTiwari, Additional Secretary, Ministry of Coal, Part-time Official Director w.e.f. 03.05.2019. Cessation

Shri. Sarat Kumar Acharya relinquished the charge as Chairman and Managing Director w.e.f. 31.07.2018.

The following Directors relinquished from the Board of Directors of the Company:

a. Shri. P.Selvakumar, Director (Planning & Projects) on 31.05.2018.

b. Shri. SubirDas, Director (Mines) on 30.06.2018.

c. Shri. Vikram Kapur, Part-time Official Directoron 27.08.2018.

d. Smt. MonikaArora, Independent Director w.e.f. 30.08.2018.

e. Shri. Chandra Prakash Singh, Independent Director w.e.f. 17.11.2018.

f. Shri. V.Thangapandian, Director (Power) on 31.03.2019.

g. Shri. Suresh Kumar, Part-time Official Director w.e.f. 10.04.2019.

Your Directors wish to place on record their whole-hearted appreciation for the valuable guidance and services rendered by the above Directors during their tenure, as Directors on the Board of the Company.

Further, pursuant to Section 152 of the Companies Act, 2013, Shri.Nadella Naga Maheswar Rao, Director, will retire by rotation at the Annual General Meeting and being eligible offer himself for re-appointment.

Acknowledgement

The Board of Directors of your Company places on record its sincere appreciation for the continued support and guidance extended by the Ministry of Coal, Ministry of Power, Ministry of New and Renewable Energy, Ministry of Finance, Ministry of Environment & Forest, Ministry of Industry, Ministry of Labour, Ministry of Heavy Industries, NITI Aayog, DIPAM, DPE, Central Electricity Authority, Central & State Governments Departments, Central & State Electricity Regulatory Commissions, Andaman & Nicobar Islands Administration, State Electricity Boards, and beneficiaries of Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Kerala, Puducherry and Rajasthan and also the Joint Venture Partners, viz., Tamil Nadu Generation and Distribution Corporation Limited(TANGEDCO), Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited(UPRVUNL), Mahanadi Coalfields Limited(MCL) and Hindalco.

The Board of Directors of your Company is pleased to acknowledge with gratitude the co-operation and continued support extended by the Governments of Tamil Nadu, Rajasthan, Uttar Pradesh, Jharkhand and Odisha, V.O.C.Port Trust, Tuticorin and the District Administrations of Cuddalore, Bikaner, Tuticorin, Sambalpur, Kanpur Nagar and Dumka. The support and co-operation extended by the Comptroller and Auditor General of India, Statutory Authorities, Statutory Auditors, Branch Auditor, Cost Auditor, Secretarial Auditor, Director General of Mines Safety, Directorate of Industrial Health & Safety, Boiler Inspectorates, Chief Inspector of Factories, the Director of Boilers, Central Pollution Control Board, State Pollution Control Board, Chief Controller of Explosives, Regional Labour Commissioner, Regional Provident Fund Commissioner, the Company’s Bankers, Financial Institutions and KfW of Germany need special mention and the Directors acknowledge the same.

Your Directors also wish to place on record their appreciation for the dedicated work put forth by the Employees at all levels. The positive role played by the recognised Trade Unions and Associations of the Engineers and Officers in maintaining cordial industrial relations deserves special mention.

For and on behalf of the Board of Directors

Place : Neyveli Rakesh Kumar

Date : 02.07.2019 Chairman-cum-Managing Director

स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `1008 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `538 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `379 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `656 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स ऑप्शंस में `1075 Cr की खरीदारी की
  • MARKET CUES : स्टॉक फ्यूचर्स में `36 Cr की बिकवाली की
  • MS ON BPCL : Overweight रेटिंग, लक्ष्य `571/Sh
  • CS ON AARTI IND : Outperform रेटिंग, लक्ष्य `980/Sh
  • CS ON APOLLO HOSP : लक्ष्य `1,300 से बढ़ाकर `1,600/Sh
  • NOMURA ON ESSAR CASE : बैंकों की अब 90% तक रकम की रिकवरी संभव

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