Fiscal 2018 was yet another year of significant progress for your Company and it givesme great pleasure to share with you the performance of your company during the FinancialYear (FY) 201718.
Your Company achieved capitalization of transmission projects (including TBCB projects)worth about '27928 crore. Transmission assets consisting of 9072 Ckm of Extra High Voltage(EHV) transmission lines 41620 MVA transformation capacity with 15 new substations havebeen added during the year by your Company. Capital expenditure has been '25791 croreagainst the target of '25000 crore. A number of large and important projects werecommissioned/completed during the year including 800 kV 3000 MW HVDC link fromAlipurduar to Agra for evacuation of power from Bhutan; 2nd Pole of 800 kV HVDC Champa-Kurukshetra link; 765kV D/C Jabalpur-Orai-Aligarh (WR-NR Inter-Regional strengtheninglink); 765kV D/C Nizamabad - Hyderabad transmission line part of Wardha-Hyderabad linkand several other 400kV lines and substations.
The Total Income of the Company increased to ^30766 crore and Profit After Tax (PAT)increased to ^8239 crore registering a growth of about 16% and 10% respectively over theTotal Income and PAT in Fiscal 2017. Your Company's Gross Fixed Assets as on March 312018 stood at ?177100 crore as against ?149730 crore as on March 31 2017.
On the operational front your Company maintained availability of the transmissionnetwork at 99.81% with number of tripping per line contained at 0.60. As on March 312018 your Company owns & operates a transmission network of 148149 ckm of EHVtransmission lines 234 nos. of EHVAC & HVDC substations with 331163 MVAtransformation capacity.
Your Company continued to make significant progress in the Consultancy and Telecombusiness segments as well. Your Company has registered consultancy revenue of ^662 croreand Telecom revenue of ^607 crore a growth of about 14% and 22% respectively over theprevious year. Some of the major consultancy assignments secured in the domestic marketduring the year include strengthening of Sub-transmission works and Rural Electrificationwork in the state of J&K under Prime Minister Development Programme (PMDP). A numberof prestigious International Consultancy assignments with multilateral funding oncompetitive bidding basis have also been secured. On the Telecom front network coveragehas been increased by 13.68% to 47735 km from the earlier reach of 41998 km.
Your Company is performing well in the competitive environment under Tariff BasedCompetitive Bidding (TBCB). During the year your company won two more projects viz.'Establishment of Transmission System for Eastern Region Strengthening Scheme XXI(ERSS-XXI)' and 'Establishment of 765kV D/C power transmission system for new WesternRegion - Northern Region Inter Regional Corridor' under the TBCB route. As on March 312018 your Company has secured 12 projects under this model and I am happy to share withyou that five of these projects have been successfully completed till date and elements inother projects are being completed progressively.
Towards integration of Renewable Energy Resources with the Grid your Company isplaying an important role including undertaking the development of high capacity GreenEnergy Corridors as well as transmission schemes worth about '4300crore for 7200 MW UltraMega Solar Parks in various states. For development of Smart Grid in India your Companyis continuously focusing towards improving reliability security and efficiency of thegrid through applications of intelligent Smart Grid technologies.
Friends your Company continued to take various initiatives to fulfil its commitmenttowards the goal of Sustainable Development including design and installation ofinnovative towers for conservation of Right of Way (RoW) rain water harvesting systeminstallation of LED bulbs solar lights fuel catalysts devices for DG sets etc. Towardssustainability and green initiative your Company is installing Rooftop Solar PV Systemsin 55 locations of its own premises across the Country. Your Company the leader inSustainability Reporting in the Indian Power Sector released its 5th biennialSustainability Report (for 2015-17) in January 2018 based on internationally acclaimedGRI-G4 guidelines. This report apart from show-casing Company's achievements gives allstakeholders a clear picture of contributions to sustainable development through itsactivities.
As a part of Corporate Social Responsibility your Company continued to contribute tosociety at large through initiatives that have positive impact on society at largeespecially the community in the neighborhood of its operations. Various CSR activitieshave been undertaken during the year with thrust on Rural Development/InfrastructuralDevelopment Skill Development Health Education Environment etc. To help economicallyweak patients undergoing treatment and their attendants your Company has constructed'POWERGRID Vishram Sadan' at J.P. Apex Trauma Centre AIIMS New Delhi which has becomefunctional during the year. 'POWERGRID Vishram Sadan' was dedicated to the nation by theHon'ble Prime Minister on 29th June 2018. Four more Vishram Sadans are being constructedby your Company each at Lucknow Patna Guwahati and Ranchi. Further your Company hasactively participated in the 'Swachh Bharat Abhiyaan. Company's employees and their familymembers voluntarily undertook Shram Daan during the year in more than 150 locations acrossthe Country. During FY 2017-18 your Company has spent ^157.99 crore on various CSRactivities.
Your Company's contribution has been widely acknowledged and it has received severalprestigious awards and distinctions. Some of the significant and recent awards /recognition include -
'Best Navratna Overall' 'Best Navratna: Services'&'Electricity Sector:Transmission' at Dun & Bradstreet PSU Awards 2018;
'Fastest Growing Electric Utility in Asia for fourth successive year- as perPlatts Top 250 Global Energy Company Rankings (2017 2016 2015 & 2014);
'SCOPE Award for Excellence and Outstanding Contribution to the Public SectorManagement - Individual Leadership Category-I (Maharatna/ Navratna CPSE) 2016-17 to CMDPOWERGRID; and
'Best CEO' Award in 'PSU' category (except Banking Sector) and 'Best CEO' Awardin 'Power' category to CMD POWERGRID at Business Today 'Best CEO' Awards.
On behalf of the Company I thank each shareholder for the unstinted support &trust placed on the Company and look forward for your continued support. I would also liketo take this opportunity to thank the employees whose commitment and hard work has helpedin delivering another successful year for the Company.
With best wishes Yours sincerely
| ||(I. S. Jha) |
| ||Chairman & Managing Director |
|Date: 6th August 2018 || |
|Place: New Delhi || |