In an interview to CNBC-TV18, RP Singh, CMD, SJVN Ltd spoke about the cash flow situation vis-a-vis the UP power corporation and the road ahead.
Below is the edited transcript of his interview to CNBC-TV18.
Q: Can you verify whether you have received dues of Rs 100 crore from the Uttar Pradesh (UP) power corporation? Have you managed to settle your dues?
A: There is little problem in realising our dues from different discoms to whom we are supplying in the northern region. However, there is a good improvement during the last one-two years.
Q: What is your outstanding with the various discoms at this point in time?
A: The due is something around Rs 140 crore.
Q: So you are saying Rs 140 crore is only from UP or is it from all SEBs?
A: Our total outstanding is something around Rs 140 crore, which is already overdue.
Q: When you say overdue they must have been paid three months ago? They are overdue with what period in mind?
A: Generally, our today's bill is to be paid in 60 days with some terms and conditions.
Q: Was this amount much higher at Rs 200-250 crore about a week ago and UP settled some of the money?
A: I will not be able to give you the latest update as it is not available with me right now. Nevertheless, UP Discoms are paying up and we are on the constant persuasion with UP authorities to pay our balance.
Q: Has your cash flow situation has improved in the month of December?
A: Yes, and it is very good. Of course there is little worry which we have taken care of well.
Q: Did you receive Rs 100 crore?
A: The latest data is not available with in right now.
Q: What about your margins and your power output for the third quarter?
A: So far the energy generation and our performance parameter is concerned this is alright. Even the third quarter beginning 1st October and little less energy generation is due to little less water in flow. We will be exceeding our desired energy and we are sure of it from Nathpa Jhakri Hydro Power station of 1500 Megawatt.
Q: So what is the total generation expected for the FY13?
A: We expect it will touch the level of 6800 Megawatt against the desired energy of 6612 Megawatt.
Q: Do you expect that your 400 MW Rampur plant will be commissioned between April and June next year, as you had promised?
A: It is supposed to be commissioned by September 2013. The work is going on in full swing. We are maintaining our schedule and following it very carefully. We are quite hopeful of getting the project commissioned by 2013.