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NTPC Ltd.

BSE: 532555 | NSE: NTPC |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE733E01010 | SECTOR: Power - Generation & Distribution

BSE Live

May 28, 10:50
95.40 0.60 (0.63%)
Volume
AVERAGE VOLUME
5-Day
700,409
10-Day
677,865
30-Day
476,748
153,695
  • Prev. Close

    94.80

  • Open Price

    95.10

  • Bid Price (Qty.)

    95.25 (1142)

  • Offer Price (Qty.)

    95.35 (2445)

NSE Live

May 28, 10:50
95.30 0.60 (0.63%)
Volume
AVERAGE VOLUME
5-Day
12,739,494
10-Day
16,241,016
30-Day
16,743,443
3,738,201
  • Prev. Close

    94.70

  • Open Price

    95.25

  • Bid Price (Qty.)

    95.25 (8948)

  • Offer Price (Qty.)

    95.30 (304)

Annual Report

For Year :
2019 2017 2016 2015 2014 2013 2012 2011 2010

Auditor's Report

1. We have audited the accompanying financial statements of NTPC LIMITED (the Company) which comprises the Balance Sheet as at 31st March 2012, and the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and the significant accounting policies and other explanatory information. These financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audit.

2. We conducted our audit in accordance with Auditing Standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the fi nancial statements are free from material misstatement. An audit includes examining, on test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditors Report) Order, 2003 as amended by Companies (Auditors Report) (Amendment) Order 2004, issued by the Government of India in terms of sub-section (4A) of section 227 of the Companies Act, 1956, we enclose in the annexure a statement on the matters specifi ed in paragraphs 4 and 5 of the said Order.

4. Further to our comments in annexure referred to in para 3 above, we report that:

a) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit;

b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books;

c) The balance sheet, statement of profit and loss and cash fl ow statement dealt with by this report are in agreement with the books of account;

d) In our opinion, the balance sheet, statement of profit and loss and cash fl ow statement dealt with by this report comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956;

e) Being a Government Company, pursuant to the Notification no. GSR 829(E) dated 21.10.2003 issued by Government of India, provisions of clause (g) of sub-section (1) of Section 274 of the Companies Act, 1956, are not applicable to the Company;

f) Without qualifying our report, we draw attention to note no. 22 a) and 22 b) in respect of accounting of sales on provisional basis pending determination of tariff by the Central Electricity Regulatory Commission;

g) In our opinion, and to the best of our information and according to the explanations given to us, the said accounts read with the signifi cant accounting policies and the explanatory notes thereon, give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

a. in the case of balance sheet, of the state of affairs of the Company as at 31st March 2012,

b. in the case of statement of profit and loss, of the profit for the year ended on that date, and

c. in the case of cash fl ow statement, of the cash fl ows for the year ended on that date.

ANNEXURE TO THE AUDITORS REPORT

Statement referred to in paragraph (3) of our report of even date to the members of NTPC LIMITED on the accounts for the year ended 31st March 2012

(i) (a) The Company has generally maintained proper records showing full particulars including quantitative details and situation of fixed assets.

(b) All the assets have not been physically verifi ed by the management during the year but there is a regular programme of verifi cation to cover all assets over two years which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. No material discrepancies were noticed on such verifi cation.

(c) Substantial part of the fixed assets has not been disposed off during the year.

(ii) (a) The inventory has been physically verifi ed by the management at reasonable intervals.

(b) The procedures of physical verifi cation of inventory followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business.

(c) The Company is maintaining proper records of inventory. No material discrepancies were noticed on such verifi cation.

(iii) (a) The Company has not granted any loans secured or unsecured to any companies, firms or other parties covered in register maintained under Section 301 of the Companies Act, 1956.

In view of clause 4(iii)(a) above, the clauses 4(iii)(b), 4(iii)(c) and 4(iii)(d) of the Order are not applicable. (e) The Company has not taken any loans, secured or unsecured from companies, firms or other parties covered in register maintained under Section 301 of the Companies Act, 1956. In view of 4(iii) (e) above, the clauses 4(iii) (f) and 4(iii) (g) of the Order are not applicable.

(iv) In our opinion and according to the information and explanations given to us, there is adequate internal control system commensurate with the size of the Company and the nature of its business for purchase of inventory and fixed assets and for sale of electricity, goods and services. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal control systems.

(v) (a) According to the information and explanations given to us, during the year under audit there have been no contracts or arrangements which need to be entered in the register maintained under section 301 of the Companies Act, 1956. In view of clause 4(v) (a) above, the clause 4(v) (b) of the Order is not applicable.

(vi) In our opinion and according to the information and explanations given to us, the Company has complied with the directives issued by the Reserve Bank of India, the provisions of Sections 58A and 58AA or any other relevant provisions of the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975 with regard to the deposits accepted from the public. No order has been passed with respect to Section 58A and 58AA, by the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any Court or any other tribunal.

(vii) In our opinion, the Company has an internal audit system commensurate with its size and nature of business.

(viii) We have broadly reviewed the accounts and records maintained by the Company pursuant to the Rules made by the Central Government for the maintenance of cost records under section 209 (1) (d) of the Companies Act, 1956 and we are of the opinion that prima facie the prescribed accounts and records have been made and maintained. We have not, however, made detailed examination of the records with a view to determine whether they are accurate and complete.

(ix) (a) Undisputed statutory dues including provident fund, investor education and protection fund, income tax, sales-tax, wealth tax, service tax, custom duty, excise duty, cess and other statutory dues have generally been regularly deposited with the appropriate authorities and there are no undisputed dues outstanding as on 31st March 2012 for a period of more than six months from the date they became payable.

(b) The disputed statutory dues aggregating to Rs. 164.77 crore that have not been deposited on account of matters pending before appropriate authorities are detailed below:

Rs. crore

Sl. No. Name of Statute Nature of dues Forum where the dispute is pending Amount

1 Central Sales Tax and Sales Tax/ Sales Tax/VAT Additional Commiss ioner of Sales Taxes 26.53 VAT Acts of Various States Commissioner of Sales Tax 6.46

Dy. commissioner of Sales/ Commercial Taxes 15.92

High Court 83.51

Sales Tax Tribunal 1.81

Joint Commissioner (Appeal) Trade tax 2.05

2 Water (Preve ntion & Control Water/ Pollution Cess Appellate Authority, Pollution Control Board 0.41 of Pollution) Cess Act, 1977 3. Central Excise Act, 1944 Central Excise Duty/Service tax CESTAT 1.61

4. Income Tax Act, 1961 Income Tax Income Tax Appellate Tribunal/CIT 1.63

Allahabad High Court 24.11

Asst. Commissioner 0.73

Total 164.77

(x) The Company has no accumulated losses and has not incurred cash losses during the financial year covered by our audit and the immediately preceding financial year.

(xi) In our opinion and according to the information and explanations given to us, the Company has not defaulted in repayment of dues to fi nancial institutions, banks or debenture holders.

(xii) According to the information and explanations given to us, Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

(xiii) The Company is not a chit fund or a nidhi/mutual benefit fund/society. Therefore, the provisions of clause 4(xiii) of the Order are not applicable to the Company.

(xiv) The Company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Order are not applicable to the Company.

(xv) According to the information and explanations given to us, the Company has not given any guarantees for loans taken by others from banks or financial institutions.

(xvi) According to the information and explanations given to us, the term loans have been applied for the purpose for which they were obtained.

(xvii) According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report that no funds raised on short-term basis have been used for long-term investments.

(xviii) According to the information and explanations given to us, the Company has not made any preferential allotment of shares during the year.

(xix) According to the information and explanations given to us, the Company has created security or charge in respect of the Bonds issued by the Company during the year.

(xx) According to the information and explanations given to us, the Company has not raised any money by public issue during the year.

(xxi) According to the information and explanations given to us and as represented by the Management and based on our examination of the books and records of the company and in accordance with generally accepted auditing practices in India, we have been informed that 3 cases of frauds involving an aggregate amount of Rs. 1.08 crore towards misappropriation of funds by the employees have been committed on the company during the year. The Company has taken appropriate action against these employees and the matters are under investigation.

For O. P. Bagla & Co. For K.K.Soni & Co. For PKF Sridhar & Santhanam

Chartered Accountants Chartered Accountants Chartered Accountants

Firm Reg. No. 000018N Firm Reg. No. 000947N Firm Reg. No. 003990S

(Rakesh Kumar) (S.S. Soni) (S. Narasimhan)

Partner Partner Partner

M No .087537 M No.094227 M No.206047

For V. Sankar Aiyar & Co. For Ramesh C. Agrawal & Co. For A.R. & Co.

Chartered Accountants Chartered Accountants Chartered Accountants

Firm Reg. No. 109208W Firm Reg. No. 001770C Firm Reg. No. 002744C

(R. Raghuraman) (R.C. Agrawal) (Prabuddha Gupta)

Partner Partner Partner

M No. 081350 M No.070229 M.No.400189

Place : New Delhi

Dated : 10th May 2012