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India Power Corporation Ltd.

BSE: 532130 Sector: Infrastructure
NSE: DPSCLTD ISIN Code: INE360C01024
BSE 05:30 | 01 Jan India Power Corporation Ltd
NSE 10:39 | 26 Feb 9.10 1.50
(19.74%)
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India Power Corporation Ltd. (DPSCLTD) - Chairman Speech

Company chairman speech

Dear Shareholders

This year your Company is celebrating its centenary year and we would like tocompliment all the stakeholders – customers employees shareholders directorsgovernment and all the people for their faith dedication and support throughout thecentury. Power sector is considered to be a core industry for economic progress anddevelopment of any country. In case of a developing country like India it is imperativeto have a vibrant and well performing power sector so that the country's development canbe accelerated.

India's power sector is one of the fastest growing in the world. Demand for electricityis seeing a steady growth with a pick-up in the economy especially manufacturing activityas well as favourable government policies. India has become one of the world's leadingcountries in energy development in 2018. As on May 2019 India's total installedgeneration capacity stood at 356.8 GW. India is the third largest power generator as wellas consumer in the world. This demand for electricity will continue to grow to cater tothe economic growth of the country creating more volume in the power market withstrengthening of financials of Discoms. India is expected to have a peak demand for powerup to 226 GW by FY21-22 from the current 177 GW.

The power sector is undergoing a noteworthy change not only globally but in India aswell and this has redefined the industry outlook. Up until now with the consistentlydeveloping demand for power India has been focusing to include large scale conventionalpower limits with restricted accomplishment on meeting these objectives. The spotlight hasalways been on conventional power generation. Now however with solar and wind powerbecoming commercially viable there are additional choices available for a future powersystem that can keep pace with the economic growth. India's Intended Nationally DeterminedContribution (INDC) aims to base 40% of the total installed power generation capacity onnon-fossil fuel resources by 2030 with international support on technology transfer andfinancing.

With the robust outlook of the sector India will see foreign participation in thedevelopment and financing of generation and transmission assets engineering servicesequipment supply and technology partnership in clean technologies and in distributionsector going forward. India's power sector is forecasted to attract investments worth Rs.9 to 9.5 trillion between FY19-23.

For India to sustain the growth momentum the next round of power sector reforms mustfocus on ensuring availability of reliable power distribution for all user groups. Nowthat the NDA government has got re-elected with a greater mandate the power sectorreforms will gather pace especially distribution sector as clearly hinted by the PowerMinister in his recent interviews. Going forward Open Access and Parallel License willplay a major role in making that happen. Also technology is poised to be a key roleacross the power sector value chain – be it in terms of smart metering to cut down onlosses or in efficient handling of grid load through smart grid technology. New technologyhas the potential to alleviate some of the key issues of the sector along with maximumreturn for Discoms.

Undoubtedly power is an essential element for fast infrastructure development and forthis the government has set itself the objective of providing power access to allfamilies over next few years. To achieve this objective government has put resources andinvested heavily in the sector through progressive initiatives like Deen Dayal UpadhyayaGram Jyoti Yojana as well as Saubhagya. Across all regions policy choices made bygovernments will determine the shape of the energy sector of the future.

In today's day and age with disruption in every segment every form and every shapebeing a continuous process your Company has incorporated strategy processes rationaleand expeditious implementation as a way of conducting its business. Therefore the fabricwhich has been woven is of continuous change and remain contemporary while servicing theneeds of the customers in a cost efficient way. Your Company has over the last 100 yearsemerged as an integrated power company. Your Company has one of the oldest distributionlicense across an area of 618 sq. kms. in Asansol – Ranigunj area of West Bengal withone of the lowest T&D losses in the country of around 3% and collection efficiency ofmore than 99%. On the generation front your Company has a total capacity bothconventional and renewable of around 1050 MW. Your Company closed FY19 with a consistentperformance. The total revenue on a standalone basis stood at Rs. 567.99 crore for FY19 ascompared to Rs. 520.78 crore for FY18. The EBIDTA and Profit after Tax for FY19 stood atRs. 118.42 crore and Rs. 18.70 crore respectively.

Your Company with a century of experience in Transmission & Distribution as autility and a significant presence in generation business across coal wind and solar isconfident on capitalizing on the opportunities in the power sector in the future.

With best wishes

HEMANT KANORIA

Chairman