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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 '17

Dear Shareholders,

It gives me immense pleasure to share with you the performance of your company during the Financial Year (FY) 2016-17.

Friends, the Indian economy is growing strongly with the overall growth for the Fiscal 2017 at 7.1%. This was another year of remarkable performance on various fronts for your Company as well.

I am happy to inform that a number of large and important projects were commissioned/completed during the year including ±800 kV Champa - Kurukshetra HVDC Bi-pole-1(Pole-I) link; Pole-II & III of ±800 kV Biswanath Chariyali/Alipurduar - Agra HVDC mutli terminal transmission systems; 765 kV double circuit (D/c) Wardha - Nizamabad line;765kV D/c Gaya- Varanasi line; 765 kV D/c Varanasi -Kanpur - Jhatikara line;765 kV D/c Angul - Srikakulam line; 765 kV D/c Srikakulam - Vemagiri line (TBCB); 765 kV D/c Raipur - Wardha (2nd) line; 765kV D/c Tuticorin - Salem (charged at 400 kV); and 400 kV D/c Ranchi - Chandwa - Gaya line. Your Company achieved capitalization of transmission projects worth over Rs.31,000Crore (including TBCB projects) during the year.

The year ended March 31, 2017 also marks the conclusion of XII Plan. I am glad to share with you that against the CAPEX target of Rs.1,10,000crore for XII Plan, your Company has made a capital expenditure of Rs.1,12,664crore. Total Capitalization achieved during XII Plan is over Rs.1,17,000 crore including TBCB projects.

On the financial front, your Company has registered Total Income of Rs.26581.46Crore and Profit after Tax (PAT) of Rs.7520.15Crore in Fiscal 2017, registering a growth of 25.13% and 26.42% respectively over the Total Income and PAT in Fiscal 2016. Your Company’s Gross Fixed Assets as on March 31, 2017 stood at Rs.1,49,730Crore as against Rs.1,21,336Crore as on March 31, 2016 (as per Ind AS).

On the operational front, your Company maintained availability of the transmission network at 99.79% and the number of tripping per line (unplanned) was contained to 0.68 for the year. As on March 31, 2017, your Company owns & operates a transmission network of about 1,39,077 ckm of inter-State transmission lines, 219 nos. of EHVAC & HVDC sub-stations with transformation capacity of about 2,89,543 MVA.

Your Company also made an impressive progress in the areas of Consultancy & Telecom thereby enhancing the value for the shareholders. Your Company has registered consultancy revenue of Rs.582.43crore and Telecom revenue of Rs.503.83crore, a growth of 25.13% & 28.45%, respectively over the previous year. Some of the major consultancy assignments secured during the year include Railway track electrification works for four Zonal Railways and Techno-managerial services for implementation of 220kV & 132kV transmission system for Railways. On the Telecom front, total network coverage has been increased by 14.8% to 41,988 km from the earlier reach of 36,563 km and the number of Points of Presence (PoP) locations have been increased to Rs.662’ from Rs.595’, registering an increase of 11.26%.

Under Tariff Based Competitive Bidding (TBCB), your Company has bagged one more project viz. ‘Establishment of Transmission System for 765kV Eastern Region Strengthening Scheme (ERSS-XVIII)’, during the year. With this, your Company has secured 10 projects as on March 31, 2017 through TBCB, since its participation. I am glad to share with you that three of the projects under TBCB have been successfully completed and elements in other projects are being completed progressively.

Under Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY), infrastructure was created for 4365 nos. of partially electrified / un-electrified villages in Fiscal 2017. Cumulatively, till March, 2017, infrastructure has been created for electrification of about 79,000 villages and service connections were provided to about 37.5 lakh BPL households.

Your Company is playing a crucial role in the integration of Renewable Energy Resources with the grid and is undertaking development of Green Energy Corridors as well as transmission schemes for Ultra Mega Solar Parks in a no. of states. In addition, your Company is also establishing Renewable Energy Management Centers (REMC) in certain renewable rich states which would facilitate forecasting of renewable resources and efficient management of variable renewable generation ensuring grid stability & security.

For development of Smart Grid in India, your Company has undertaken various initiatives and is providing consulting services for projects covering distribution infrastructure, advanced metering infrastructure, intelligent outage management, power quality management, distributed generation, net metering etc.

Further, your Company continues to take various initiatives to fulfil its commitment towards the goal of sustainable development. These include design and installation of multi-circuit & pole towers and Gas Insulated Switchyard (GIS) to conserve the precious Right of Way (RoW) / land resource; installation of LED bulbs & solar street lights in substations, fuel catalyst devices for DG sets, rain water harvesting, installation of solar photovoltaic in office buildings to meet the internal energy requirements / CO2 reduction, etc.

As a part of Corporate Social Responsibility, your Company primarily focuses on inclusive social-economic growth for development of marginalized and under-privileged sections of the society residing around its areas of operation. Your Company has undertaken various CSR activities during the year with thrust on Health, Rural Development/Infrastructural Development, Skill Development, Education, Environment, etc. During FY 2016-17, your Company has spent Rs.147.27crore on various CSR activities. Your company has also completed the construction of the ‘POWERGRID Vishram Sadan’ at J.P. Apex Trauma Centre, AIIMS, New Delhi. In addition, your Company contributed an amount of Rs.30Crore to the ‘Swachh Bharat Kosh’ of the Govt. of India.

Your Company is proud to receive continuous industry recognition and awards. Some of the significant awards / recognition include - ‘Dun & Bradstreet PSU Award 2017’ in the ‘Electricity - Power Transmission Sector’ category; ‘Fastest Growing Electric Utility in Asia’ for three consecutive years (2016, 2015 and 2014) as per Platts Top 250 Global Energy Company Rankings; ‘Industry Excellence Awards 2017’ in the category of ‘Energy & Power’ on the occasion of BRICS International Conclave for MSMEs & start-ups organised by ‘Stepup 360’& BRICS International Forum’; CNBC TV-18 ‘Best Risk Management Practice Award’ at the 3rd India Risk Management Awards in PSU category; CBIP Award ‘Best Performing Transmission Utility 2016’, ‘Clean Energy Award-2016’ for Best Power Transmission Utility Company in India; ‘North American Synchrophasor Initiative (NASPI) Award’ for Outstanding Utility during 2016-17, ‘Delhi Management Association Award 2016’ for “Improving Rural Livelihoods and Protecting Environment through Farmer-centric Integrated Watershed Management” under CSR; and ‘SCOPE Award 2016’ for ‘Innovative Stakeholders Engagement’ by POWERGRID. Your Company has once again been recognized as one of the ‘‘India’s Best Companies to Work” in the Great Place to Work Study (June, 2017), with its rank being upgraded to Rs.31’ from last year Rs.58’, out of 700 companies.

On behalf of the Company, I thank each shareholder for the continued support & trust placed on the Company. I would also like to express my appreciation for the employees, for their contribution towards the performance of Company. I am confident that with a team of dedicated employees and with valuable support of our esteemed shareholders, the Company will continue to excel, surpassing your expectations.

With best wishes,

Yours sincerely,

(I. S. Jha)

Date: 12th August, 2017 Chairman & Managing Director

Place: New Delhi

Source : Dion Global Solutions Limited
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