Power Grid Corporation of India Chairman's Speech > Engineering - Heavy > Chairman's Speech from Power Grid Corporation of India - BSE: 532898, NSE: POWERGRID

Power Grid Corporation of India

BSE: 532898|NSE: POWERGRID|ISIN: INE752E01010|SECTOR: Power - Generation & Distribution
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Chairman's Speech (Power Grid Corporation of India) Year : Mar '15
Dear Shareholders,
 It''s my privilege to share with you the performance of your company
 during the Financial Year 2014-15.  The year 2014 marked the completion
 of 25 glorious years of your Company. In this ''Silver Jubilee'' year,
 your Company continued to see stellar growth and exhibit a number of
 splendid achievements on several fronts.
 Friends, I am delighted to share with you that in this landmark year, a
 number of large projects including critical elements were commissioned,
 viz. 765 kV D/C Wardha-Aurangabad lines, 765kV D/C Raipur- Wardha &
 765kV Champa-Raipur lines for evacuation of power from IPP Projects in
 Chhattisgarh, 765 kV D/C Nellore-Kurnool, 765kV D/C Kurnool-Thiruvalam
 for Southern Region Grid Strengthening, 765kV 2xS/C Angul- Jharsuguda &
 765kV D/C Jharsuguda- Dharamjaygarh and 765kV S/C Satna-Gwalior-II
 lines. Including above, your Company added 8,830 circuit kilometre
 (ckm) of Extra High Voltage (EHV) transmission lines, 8 new
 sub-stations and 25,786 Mega Volt Ampere (MVA) transformation capacity
 during the year. As on 31st March, 2015, your company owns and operates
 a transmission network of about 1,15,637 ckt kms of inter-State
 transmission lines, 192 nos. of EHV & HVDC substations with
 transformation capacity of 231,709 MVA.
 In Fiscal 2015, your Company recorded a capitalization of
 Rs.21,760Crore, which is the highest ever capitalization achieved in
 any financial year of its history. In Fiscal 2015, Profit after Tax
 (PAT) on consolidated basis crossed the Rs. 5000 crore mark,
 registering at Rs.5046 crore.  Your Company has registered a Turnover
 of Rs.17,780Crore and PAT of Rs.4,979Crore in Fiscal 2015, which are
 13.1% and 10.7% higher respectively, to the corresponding Turnover and
 PAT in Fiscal 2014, on standalone basis. The Gross Fixed Assets of your
 Company as on 31st March, 2015 stands at Rs.118,264Crore as against
 Rs.96,504Crore in last fiscal.
 On the operational front, your Company continued to maintain the
 transmission system availability above 99%. The availability for the
 fiscal 2015 was 99.87% with number of tripping per line limited at
 0.53. With rapid increase in asset base of your Company, National
 Transmission Asset Management Centre (NTAMC) has been established,
 which is manned by experts on 24x7 basis to provide expert handling to
 system & equipment. At the end of FY 2014-15, 75 substations are being
 operated through remote operation including 44 substations without
 operating staff.
 In fiscal 2015, your Company also made impressive progress in its other
 business areas including Consultancy & Telecom thereby enhancing the
 value for the shareholders. A no. of Consultancy assignments (domestic
 / international) have been bagged during the year. Also, on the Telecom
 front, total network coverage has been increased by 12% to 33,241 kms
 from the earlier reach of 29,641 kms and Number of Points of Presence
 (PoPs) locations have been increased to 352 from the earlier coverage
 of 317 PoPs.
 During the year, under DDUGJY (Deendayal Upadhyaya Gram Jyoti Yojana)
 scheme (including erstwhile RGGVY), 2666 nos. of villages were
 energized and infrastructure was created for 581 nos. of partially
 electrified villages in fiscal 2015. Cumulatively, till March, 2015,
 infrastructure has been created for electrification of 71,622 villages
 and service connection have been provided to about Rs. 35.9 lakh BPL
 Friends, Electricity is one of the most critical components of
 infrastructure, affecting economic growth and well-being of people at
 large. The Twelfth Five Year Plan lays special emphasis on development
 of the infrastructure sector including energy as an imperative for
 sustaining high growth. Your Company has increased the Capex plan from
 Rs. 1,00,000Crore to Rs. 1,10,000 Crore for XII Plan mainly towards
 development of transmission infrastructure for implementation of new
 inter-State transmission systems including Green Energy Corridors. An
 investment of Rs. 65,651 Crore has already been made in the first three
 years of the plan period.
 Integration of Renewable Energy Resources with grid is the top priority
 for energy security and also for carbon emission reduction towards
 clean development. Towards this, your Company had prepared Green
 Energy Corridors Report which has provision for Intra-state & Inter-
 state transmission. Based on the Report, GOI has already assigned the
 development of Inter-state transmission system to your Company.  Award
 for major works have been placed and construction at site has commenced
 for implementation of Green Energy Corridors. In addition, a
 comprehensive transmission plan has also been evolved for Green Energy
 Corridors-II to evacuate power from various Ultra Mega Solar Power
 parks being developed in various states aggregating about 20,000 MW.
 Your Company has taken various initiatives for development of Smart
 Grid in India towards bringing efficiency in distribution and is
 extending consulting services for implementation of various projects on
 Smart Grid Technology in different states. Towards smart transmission,
 your Company has commenced implementation of Phasor Measurement Unit
 (PMU) based Unified Real Time Dynamic State Measurement (URTDSM),
 integrating all State(s) and Central grids for Wide Area Measurements
 Friends, your Company has prepared a report on energy efficiency
 opportunities in India entitled Negawatt - Makes a Watt'' indicating
 opportunity of energy saving in 18 energy intensive sectors. Your
 Company is also setting up Energy Efficiency Demonstration Laboratory''
 at POWERGRID Advance Research and Technology Centre (PART) at Manesar,
 Gurgaon'', which is first of the kind in the Country to study energy
 efficiency means in various fields and facilitate capacity building of
 stakeholders on energy saving opportunities.
 Further, realizing its obligations and commitment towards Sustainable
 Development, your Company has taken many initiatives including
 technological initiatives for conservation of precious Right of Way
 (ROW), rain water harvesting system which is now an integral part of
 every new substation design, installation of LED bulbs, solar lights,
 fuel catalysts devices for DG sets etc. In addition, solar photovoltaic
 panels are also being installed in the office buildings to meet the
 internal energy requirements.
 Your Company gives priority in Corporate Social Responsibility (CSR)
 and is committed to its stakeholders to conduct business in an
 economically, socially and environmentally sustainable manner. Your
 Company has participated in the Swachh Bharat Abhiyaan of GOI for
 constructing about 10,000 toilets in about 4,500 Government schools in
 seven states of the country. It has also undertaken Projects of
 imparting skill development trainings for industry
 employment/self-employment to aboujjjt 7500 youths departmentally as
 well as in association with National bodies, etc.  The Company also
 distributed aids & appliance to differently abled people in association
 with ALIMCO and arranged Health Check-up camps at 30 locations.
 During FY 2014-15, the Company spent Rs.47.42Crore on various CSR
 activities, which was 75% higher than the expenditure under CSR during
 FY 2013-14.
 Friends, with vast geographical spread of work & large number of high
 capacity transmission lines and sub-stations with state-of-Art
 technology under implementation, capacity building is one of the major
 challenges. In this direction, POWERGRID has established its ''POWERGRID
 Academy of Leadership'' at Manesar for capacity building of its staff as
 well as for power sector-domestic & international. Further, to have
 self-reliance of indigenous development of High technology / critical
 products, POWERGRID has mandated its international suppliers to set up
 manufacturing facilities in India in the field of 765kV
 Transformer/Reactors, 800kV HVDC equipment, GIS & major equipment, etc.
 During the year FY 2014-15, your Company secured three out of four
 projects under Tariff Based Competitive Bidding (TBCB), leading to
 total eight TBCB projects in hand as on 31st March, 2015.
 Further, your Company has received many recognition in the form of
 awards during the year and some of these significant awards include the
 prestigious ICSI National Award for Excellence in Corporate
 Governance for 2014 awarded by the Institute of Company Secretaries of
 India (ICSI) in recognition of the highest levels of transparency and
 governance practices adopted by the Company; CBIP Award for the best
 performing Transmission Utility; designated as Star PSU of the year
 in the ''Business Standard Annual Awards 2014'' for Corporate Excellence;
 and felicitation for remarkable contribution in the Power Sector by The
 Economic Times'' in the ''Power Focus 2nd Annual Summit''. Your Company
 proved its mettle on global front also by, for the first time, entering
 into the Top 1000 list of Forbes List of Global 2000 Largest and Most
 Powerful Public Companies. It was a matter of great pride that
 POWERGRID was recognized as Fastest Growing Electric Utility in the
 world by Platts (a division of McGraw-Hill Companies) as part of their
 2014 Platts Top 250 Global Energy Company Rankings.
 Friends, I am happy to share that Project RUPANTAR, the Enterprise
 Resource Planning (ERP) initiative of your Company has been implemented
 successfully in the year 2014-15. Presently, majority of the key
 processes related to business are running on ERP.
 On behalf of the Company, I thank each shareholder for their continued
 confidence and support. I would also like to express my sincere
 appreciation for the employees whose commitment and efforts made Fiscal
 2015 yet another successful year for the Company. I am confident that
 with dedicated employees and with valuable support of our esteemed
 shareholders, the Company will continue to excel in meeting
 expectations of all its stakeholders.
 With best wishes,
                                                     Yours sincerely,
                                                        (R. N. Nayak)
                                        Chairman & Managing Director
 Place: New Delhi
 Date : 10.08.2015
Source : Dion Global Solutions Limited
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