We have improved our generation share-CMD(NTPC)
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New Delhi: 46 Annual General Meeting was organised in NTPC. It was virtually dispensation through web technology, NTPC Chairman said, It is my pleasure to welcome you all to the 46th Annual General Meeting of your Company. Before going into the details, I express my sincere thanks to all the investors and shareholders for your unstinted cooperation and continuing investment in NTPC. FY22 was another transformative year for your Company. During the year, we have improved our generation share, made significant progress on the renewables side along with the conventional business, and rolled out important initiatives, which will ensure continued success in the future.
The abnormal increase in LNG and imported coal prices have led to a decrease in power generation from these sources which has increased the gap between demand and supply. This led to a substantial increase in the electricity generation costs which was reflected in the all-time high levels of Market Clearing Prices on the Power Exchange.
Your Company has been carefully monitoring the fuel supply situation and has taken corrective actions continuously to ensure energy security for the country by arranging reliable fuel supplies. This has been done by arranging maximum possible coal supplies from domestic sources, ramping up coal production from captive mines and sourcing imported coal to ensure that no station is starved of fuel.
Despite numerous challenges, considerable acceleration in your Company’s growth momentum in the recent past enables me to assure you that the Company will continue to grow and prosper despite the issues emerging on the global and national business horizons.
Some of the significant achievements are: Recorded an all-time high generation of 360 BU, registering a growth of 15% as compared to the country’s generation growth of 8% in the same period.
Your Company’s coal stations maintained a positive difference of 12% as compared to the national PLF of coal stations.
In the current fiscal, the growth in generation has been 16% against the country’s growth of 10%. Further, the growth in your Company’s coal generation has been 17%. These numbers indicate that the growth is substantial and is likely to continue going forward.
Our coal stations are having sufficient coal stock. We are working continuously to increase machine availability.
In FY22, your Company achieved commercial capacity addition of 4032 MW including 502 MW from renewables. In FY23, to date, we have achieved a capacity addition of 502 MW, totally from renewables taking NTPC group installed capacity to 69,464 MW.
Ministry of Corporate Affairs has approved amalgamation of KBUNL and NPGCL with NTPC.
The resolution plan to facilitate the acquisition of Jhabua (1X600 MW) power station in Madhya Pradesh has been approved by NCLT.
We won renewable bids totalling 3265 MW in FY22. With this, the total renewable capacity won through competitive bidding has reached 7562 MW.
Commissioned India’s largest floating solar plant at Ramagundam (100 MW) in Telangana and 2nd largest floating solar plant (92 MW) at Kayamkulam in Kerala. Hon’ble Prime Minister has recently dedicated these two projects to the nation. With this we have 242 MW of floating solar capacity, by far the largest fleet in the country.
Achieved over 106% of the Capex target in FY22. Achieved 100% bill realization. Our trade receivables are less than 45 days.
Registered growth of 27% in coal production from our captive mines by achieving 14 MMT of coal production. In the current fiscal, the growth has been over 60%. This helps in reliable and quality fuel supply to our stations.
The 1st Units of 2X660 MW coal-based project in Bangladesh was synchronized with the grid recently and will be made fully operational in the current fiscal.
Your Company won several awards in Human Resource Domain which include CII HR Excellence Award, Asia’s Best Employer Award, Great Place to Work, and ATD BEST Award for training.
Despite several challenges in the business, your Company has posted strong financial results. The total income registered a growth of 15.92% vis-à-vis the previous year and stood at ₹120,042.43 crore. The Company registered its highest ever profit of ₹16,111.42 crore as against ₹ 13,769.52 crore in FY21, registering an increase of 17.01%.
Consistent efforts made by your Company in improving the performance of JVs and Subsidiaries has yielded high returns. We have accounted for dividend income of ₹ 2,134.34 crore from our JVs and Subsidiaries as against ₹1,274.19 crore during FY21.
In FY22, the Board of your Company has recommended a final dividend of 30% of paid-up capital i.e @ ₹3/share subject to the approval of Shareholders in the Annual General Meeting in addition to the interim dividend of 40% of paid-up capital, i.e @ ₹4/share already paid. This is the 29th consecutive year that the Company has paid a dividend.
The proactive refinancing strategy adopted by your Company to leverage market conditions for availing of low-cost debt has resulted in your Company being able to raise the most competitive debt in the market. This helps us in winning more bids.