Directors' report
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- Bu səhifədəki naviqasiya:
- Financial Results For the year ended March 31, 2012 (
- Profit Profit after tax during the year was at `115 crores as against `525 crores during the previous year. Turnover
- Generation Generation during the year was 28239mus as against 22685 mus during the previous year. Dividend
- II Financial Management Financial Initiatives
- III Realisation of dues from KPTCL/ESCOMs
- IV Power Purchase Agreements
- CSR works at Bellary Thermal Power Project
- CSR works at Raichur/Yermarus Thermal Power Project
- Meeting No. Date Held at Special Resolutions
- Ordinary Resolutions for
- www.karnatakapower.com
- VI Capital Expenditure
- A. Generation performance Generation
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DIRECTORS' REPORT The Board of Directors take immense pleasure in presenting the 42nd Annual Report on the business and operations of the Corporation with the audited statement of accounts for the year ended March 31, 2012. I. Financial Performance
Profit
Turnover
Generation
Dividend
Special Reserve
Equity infusion
II Financial Management Financial Initiatives With the regulatory environment prevailing in the State, the company has been pursuing with various initiatives to reduce the cost of borrowings. The total savings during the year 2011-12 is `55.60 crores. The details are:
III Realisation of dues from KPTCL/ESCOMs As part of the reforms in the power sector, GoK vide GO No. EN 131 PSR 2003 Bangalore dated 10.05.2005 ordered for assignment of PPAs to all the ESCOMs for purchase of power from KPCL with effect from 10.06.2005. Accordingly, KPCL has been selling power directly to ESCOMs w.e.f. 10.06.2005. Total realization from ESCOMs during the year was at `4180.20 crores. The outstanding dues from ESCOMs/KPTCL as on 31.03.2012 is `7940.96 crores. KPCL has requested GOK to liquidate the old outstanding dues by KPTCL/ESCOMs as per the Implementable Action Plan submitted to GOK under “Financial Restructuring Plan for realisation of KPCL dues from KPTCL/ESCOMs”. IV Power Purchase Agreements The Power Purchase Agreements for the existing hydel stations, ADPH, RTPS Units 1 to 7 & DG Plant were approved by KERC on 03.08.2009, which were executed on 24.05.2010. Power Purchase Agreements for the BTPS Unit -1 has been executed on 18.12.2010. The Power Purchase Agreement for the ongoing and new projects have been initialed on 18.12.2010 for capacity addition. V Corporate Governance
b) Social contributions
For Kudatini village construction of compound wall around religious places & Govt. schools is in progress and the cost of work is `87.56 lakhs. Action plan is being prepared for CSR Activities based on the preliminary survey report covering both villages which includes providing roads, drains & culverts, improvement to electrical supply works, and other basic infrastructure facilities. Estimates are under preparation. For electrical works it is proposed to get this work done on deposit contribution basis with GESCOM.
For the year 2012-13, it is proposed to take up the developmental works in a remaining villages viz. Deosugur, Chiksugur, Yegnur & Vadlur. Action plan for improvements to the basic infrastructure facilities in these villages is being prepared based on the preliminary survey report. For electrical works in these 4 villages, it is proposed to get this work done on deposit contribution basis with GESCOM. In case of Vadlur, two works viz., construction of culvert across main road to Vadloor leading to Raichur, which was in unserviceable condition has been taken up at the cost of `13.80lakhs. In the Government school compound wall around the water tank & main sump is also taken up at cost of `2.93 lakhs which was necessary considering the safety of the students. c) Board of Directors
The Board places on record its appreciation of the services rendered by the outgoing/ceased Directors during their tenure. d) Constitution of Committees i) Technical Committee The Technical Committee has been constituted by the Board to assist and advise the MD in respect of all technical and commercial issues referred by the MD. Presently the Technical Committee comprises of Shriyuths D Satya Murty, MR Kamble, MD, HN Narayan Prasad, TD and R Nagaraja, FD (Addl. charge). ii) Audit Committee Pursuant to Sec. 292 A of the Companies Act, Audit Committee was constituted in the Corporation in the year 2001 with the following terms of reference: i) Members of the Audit Committee shall elect a Chairman from amongst themselves. ii) (a) The Audit Committee shall have discussions with the auditors periodically about the working of existing internal control systems for improving the same. The recommendations of such review shall be placed before the management for implementation.
iii) The statutory auditor, the internal auditor and the director in charge of finance shall attend and participate in meetings of the Audit Committee. Consequent to transfer / retirement of members of the Audit Committee, the Committee has been re-constituted with the following members to review and advice on the Annual Accounts 2011-12: Shri LV Nagarajan, IAS Shri DN Narasimha Raju, IAS Shri D Satya Murty, IAS Shri HN Narayan Prasad, Technical Director In the meeting held on 26.03.2012 the Finance Director briefed the Committee about the proposed revenue budget proposals for the year 2012-13 along with the actual/budgeted/revised estimates for the years 2010-11 and 2011-12. In its meeting on 07.08.2012, the Audit Committee reviewed in detail the annual accounts for the year 2011-12 and recommended the same for consideration by the Board. e) Meetings of the Board, sub-committees & management committees pertaining to the financial year i) Board level Board : Four Technical Committee : Nine Audit Committee : Three Sub Committees – Board : Five
Contract Management : Thirty five iii) Annual General Meetings
f) Right to Information Act The Corporation, as a public authority, has taken steps towards the compliance of the Right to Information Act 2005. Public Information Officers and First Appellate Authority have been nominated as contemplated under the Act. Suo-moto disclosure of information on the activities of the Corporation under various heads in addition to the mandatory requirement under the RTI Act 2005 is made available on website: www.karnatakapower.com. During the year, 367 applications were received and processed. Information was furnished for 337 applications and 30 applications were under process. In respect of 3 applications, information was denied as per the provisions of the Act. VI Capital Expenditure Capital Expenditure incurred by the Corporation amounts to ` 1106.37 crores. VII Operational Performance The Corporation operates many hydel stations, and two thermal power plants, one wind energy farm and one diesel generating plant and three solar PV plants with a total installed capacity of 5993.905 MWs as on 31.03.2012 (Hydel: 3652.35 MWs : Thermal : 2220 MW: Wind : 4.555 MWs, Diesel Generator: 108 MWs and Solar PV Plants: 9 MW) : Energy generated during the year from Hydel, Thermal, Wind, Diesel Generating Plant and Solar PV Plants was 14192.30 MU, 13621.31 MU, 13.65 MU, 403.99 MU and 8.23MU respectively totaling to 28239.48 MU. The inflows to the three major reservoirs viz., Linganamakki, Supa and Mani is about 357.12 TMC and the maximum levels reached during 2011-12 is 1817.70 ft, 559.15 M and 593.57 M respectively. Thermal Stations:
Operational performance in terms of plant availability factor, plant load factor, forced outages, specific coal and oil consumption per KWH and auxiliary consumption was maintained at optimum level. The performance parameters of thermal and major hydel projects for the year are indicated below: A. Generation performance
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