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Gujarat Industries Power Co. Ltd.

BSE: 517300 | NSE: GIPCL |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE162A01010 | SECTOR: Power - Generation & Distribution

BSE Live

Apr 09, 16:00
78.45 2.65 (3.50%)
Volume
AVERAGE VOLUME
5-Day
37,755
10-Day
39,674
30-Day
82,019
77,029
  • Prev. Close

    75.80

  • Open Price

    76.15

  • Bid Price (Qty.)

    78.55 (702)

  • Offer Price (Qty.)

    79.00 (519)

NSE Live

Apr 09, 15:56
78.55 2.75 (3.63%)
Volume
AVERAGE VOLUME
5-Day
321,567
10-Day
298,647
30-Day
871,542
479,700
  • Prev. Close

    75.80

  • Open Price

    75.80

  • Bid Price (Qty.)

    78.55 (2406)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2007 2003

Chairman's Speech

Iam pleased to extend a warm welcome to you on behalf of the Board of Directors to the 22nd Annual General Meeting of your Company. The notice convening the said meeting and the Directors Report and Audited Accounts for the year ended 31st March 2007 have been with you for some time and with your permission, I shall take them as read. OPERATIONS : I am happy to report that the Operational Performance of your Company during the FY 2006-2007 has been good. I am happy to inform that, your Company has made arrangements for operation of the two power plants at Vadodara on gas. Your Company has been making all possible efforts to tie up adequate supply of gas for the gas based Power Stations at Vadodara. STATION I (145 MW CCPP) : The station during the year under review generated 1109.70 Million Units at a Plant Load Factor (PLF) of 87.36 % as compared to 1105.06 Million Units at a PLF of 87.00% in the preceding year. I am pleased to inform you that the PLF achieved is higher than that of previous year. STATION II - (160 CCPP) : During the year under review the Station generated 1043.81 Million Units at a PLF of 74.47% as compared to 1216.62 Million Units at a PLF of 86.76% in the preceding year. I would also like to mention that the Station has undergone scheduled major overhaul during the financial year under review. I am happy to further inform that the Station has operated on Gas during the period under review with the availability factor of 88.87%. I am also happy to inform that during the financial year under review major energy conservation and efficiency improvement measures by way of modification in Heat Recovery Steam Generator (HRSG) has been successfully implemented. Efforts are on to further improve the performance of the Station. NATIONAL AWARD FOR MERITORIOUS PERFORMANCE : During the year under review the Station generated 1043.81 Million Units at a PLF of 74.47% as compared to 1216.62 Million Units at a PLF of 86.76% in the preceding year. I would also like to mention that the Station has undergone scheduled major overhaul during the financial year under review. I am happy to further inform that the Station has operated on Gas during the period under review with the availability factor of 88.87%. I am also happy to inform that during the financial year under review major energy conservation and efficiency improvement measures by way of modification in Heat Recovery Steam Generator (HRSG) has been successfully implemented. Efforts are on to further improve the performance of the Station. SURAT LIGNITE POWER PLANT (SLPP) 250 MW : The Station has achieved a Plant Load Factor (PLF) of 80.00 %. With Generation of 1751.935 million units during the year under review. Station achieved lowest raw water consumption (2.49 MGD) during the year. Constant endeavors are being made to improve the overall performance of the station, including technology improvement and modifications. MINING OPERATIONS : Performance of the mining division has been very good and total requirements of Lignite and Limestone were met from our captive Vastan Mines. Total Quantity of Lignite mined during the year was 16.59 Lacs MT. Smooth operations in mining division helped the Surat Lignite Power Plant achieve the high Plant Load Factor during the year 2006-07. EXPANSION PLANS : I am pleased to inform that your Company is implementing 2 x 125 MW Expansion Project including development of a captive mine for increasing the generating capacity of SLPP to 500 MW. Your Company has awarded the Engineering, Procurement and Construction (EPC) Contract for Expansion Project to Bharat Hevy Electricals Ltd. (BHEL) at a cost of Rs. 1199.50 Crores. The total cost of this expansion project including development of a new captive mine, Interest During Construction (IDC), contingency, capital spares, staff colony and other components outside the scope of EPC contract will be approximately Rs. 1635 Crores. The site construction activities for Boiler, ESP and Turbine area have been going on in full swing. The Design & Engineering of main plant and major Balance of Plant area have already been completed. The civil foundation work for boiler & Electrostatic Precipitators (ESP) for both units (3&4) have already been completed. I am further glad to inform that the major milestone activity viz. Boiler drum for Unit # 3 was lifted on 25/08/2007.The Boiler structural erection work for unit-3 and Unit-4 is in progress. Turbine-Generator raft construction of Unit-3&4 is completed. . Constant endeavors and regular follow-ups are being made by the Company for critical areas to ensure timely completion of the project. I am also glad to inform that your Company has also initiated for setting up another expansion project of 500 MW (2x250MW) plus capacity at the same location. SAFETY PERFORMANCE : I am also happy to inform that your Company has achieved accident free operation of 3264 days as on 30th June, 2007 at Vadodara Plant. Constant efforts are made to maintain accident free operations at all the locations. ACCREDITATION UNDER ISO CERTIFICATIONS : I am pleased to inform that during the year under review your Company has obtained ISO:9001:2000, ISO:14001:2004 and ISO:18001:1999 Certification for Quality Management System (QMS) and Environment and Occupational Health and Safety management System (EOHSM) for its Power Stations at Vadodara and SLPP. DIVIDEND : I am happy to inform that your Directors have recommend payment of Final Dividend for the year ending 31st March, 2007 @ 05% i.e. Rs. 0.50 per Share on the 15,12,51,188 Equity Shares in addition to the Interim Dividend @ 15.00% already paid on 29th March, 2007. The net outgo on account of Final Dividend shall be Rs. 884.79 Lacs including Corporate Dividend Tax. The Dividend shall be paid to all those members whose names shall appear on the Register of Members of the Company on the Book Closure Date i.e. on Tuesday, 18th September, 2007. SOCIAL RESPONSIBILITY & WELFARE : I am glad to inform that your Company being a conscientious corporate body, your Company has been actively involved in the socio-economic development and welfare of the people living around the power plants at Baroda and SLPP through Society for Village Development in Petrochemicals Area) (SVADES) and Urja Foundation in Baroda and Development Efforts for Rural Economy and People (DEEP) at SLPP. HUMAN RESOURCES : The strength of your Company lies in its team of highly competent and highly motivated personnel at Baroda and SLPP. This has made it possible for your Company to make significant improvement and progress in all areas of activities of the Company. The employees had taken on the challenge to improve the performance of the plants through efficiency, productivity and economy. Your Directors place on record their sincere appreciation for the unstinting efforts and contribution put in by the employees of the Company. The Company continued in its endeavor to impart appropriate and relevant training to its employees to equip them to meet the challenges that are ahead and to enhance their performance in the best interest of the Company. The Company has also taken up an exercise on career growth & planning by identifying potentials & training needs of employees by engaging professionals in the field. The industrial relations during the year have been cordial. ACKNOWLEDGEMENTS : I, on behalf of myself and my colleagues on the Board of Directors, place on record their appreciation for the overwhelming co-operation and assistance received from the Government of Gujarat, Participating Units, Government of India, BHEL, Industrial Development Bank of India Ltd., and other Financial Institutions, Banks and other agencies. I also wish to express my gratitude to investors for their unstinted support and faith reposed in the Company. I once again, place on record our deep sense of appreciation for the dedicated services rendered by the Companys personnel.