Presenting the annual results and plans in 8th Annual Report I would againwish to continue from where we stopped last year on khwaise wishes we are pursuingrelentlessly. Financial year 2016-17 have broken all the historic records of Indian WindIndustry with about 5.4GW of capacity addition.
Winds have virtually blown the numbers of Gujarat alone as a State adding 1392 MWhigher then sum total of last 04 years! It was certainly an exponential growth forindustry as this spree was specifically driven because of removal of GBI benefits fornon-balance sheet investors reduction of accelerated depreciation benefits from 80 to 40%for balance sheet investors and probable input price increase due to ensuing GST regimefrom new financial year.
On 31st March 2017 Team KP Energy too had to cheer about 112 crores topline ~ 81MW wind assets energised and profits higher then turnover of first five years !And for you the bonus issue of 3:2 multiplied your wealth. This year was also a year formaiden dividend of ~ 12% (Re 1 as interim ratified in EGM and now Re. 0.20 added toaggregate as final dividend) began new innings of sharing cash profits as well. We woulddevise a dividend distribution policy in coming times to encourage our journey togetherfor long term.
We want to convert those khwaise into reality. As a team also we grew by leap& bounds. From 48 in beginning of the year we are now 106 when I am writing thisreport slogging to harness as much wind possible. Team building exercise certainly isquite organic to keep pace with growth in business; so was need of addition of executioncapabilities addition of large scale construction machineries special erection toolsmanagement practices everything armoured to paint on large canvass now.
We indeed welcome the move of Government of India to introduce the Auctions in derivingtariff as a long term sustaining measure to bring transparency balance costsinfrastructure needs and expectations of common man buying electricity. While there isdisruption in wind industry from 1st April 2017 on the order book continuityconsistency and viability perspectives I am happy that; team KP Energy is quite flexibleand tuned to these regulatory changes because of its unique model of operations.
What Hon'ble Prime Minister told on 14th August 1947 "At the stroke ofthe midnight hour when the world sleeps India will awake to life and freedom" wecheered. Freedom from "Fit" is such turning point which will rejuvenate Indianwind industry to full blossom in long run KP Energy is geared up to magnify its reach topropel in New India initiatives of PM Modi.