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Southern Power Distribution Company of AP Ltd.

BSE: 511519 Sector: Infrastructure
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Southern Power Distribution Company of AP Ltd
NSE 05:30 | 01 Jan Southern Power Distribution Company of AP Ltd

Southern Power Distribution Company of AP Ltd. (SOUTHERNPOWER) - Chairman Speech

Company chairman speech

SOUTHERN POWER DISTRIBUTION COMPANY OF A.P. LIMITED ANNUAL REPORT 2008-2009 CHAIRMAN'S REPORT Gentlemen, It gives me great pleasure in presenting the 9th (Ninth) Annual Report of Southern Power Distribution Company of Andhra Pradesh Limited, Tirupati for the year 2008-09. The Discom is on the path of implementing Power sector reforms and efforts are on towards Operational, Financial efficiency and consumer friendly initiatives. Performance Review The following are highlights of the strong operational & financial performance of the Company during the year 2008-09. - Total income was Rs 5302.1311 Crore in 2008-09. - Total expenditure for the year 2008-09 was Rs.5280.9660 Crores - The net profit of the Company stood at Rs.10.9769 Crores. - The Company's total sales increased to 11938.50 MU in 2008-09 from 10798.24 MU in 2007-08. - Distribution losses were reduced from 14.73 in 2007-08 to 13.52 in 2008- 09 - A total of 1,81,270 nos Cat-I Services,12673 NOs Category 11 services and 1476 nos Category -VII services were released through the Customer Service Centres during the year 2008-09. - The Customer Service Centre was accorded ISO 9001:2000 for the Quality management and Processes. - Under Electrification of Rural households under Rajiv Gandhi Gramin Vidyutikaran Yojana (RGGVY), 225185 nos were taken up under BPL scheme and 30983 nos were taken up under APL scheme during 2008-09. Initiatives Taken by FINANCE WING (A) IT Wing: 1. SAP ERP Package: SAP 4.7 version (FI,MM,AMIM Modules) has been fully implemented during the year. All the processes relating to Accounting, Material Management and Work Orders are now online. Version up-gradation to 6.0 duly introducing Plant Maintenance, Project Systems, Human Capital Management Modules in addition to the above modules are under implementation. During 2009-10 6.0 version will be fully introduced. 2. GPRS based Spot Collection Machines have been fully planned which will enable instantaneous credit to consumer ledger. 3. Central Billing and Collection Server has been planned which will enable the management at various levels to monitor and improve the billing and collection processes. 4. Network expansion has been planned to cover all Section Offices (AE/Opn.) of the DISCOM. 5. R-APDRP has bee taken up to tackle AT&C losses in 32 towns. This is an initiative by Govt. of India. (B) Finance Wing: 1. All new service release and billing master have been made online to central server. 2. Improvements have been made to billing of Category III (A) Services to enhance the Revenues of the DISCOM. 3. The accounting of the DISCOM has been made online through SAP. All qualifications relating to Accounting Standards have been attended. Compliance of Directives of APERC The Discom has complied, by and large, with the directives issued by APERC from time to time. National Tariff Policy The objectives of this tariff policy are to: (a) ensure availability of electricity to consumers at reasonable and competitive rates; (b) ensure financial viability of the sector and attract investments; (c) promote transparency, consistency and predictability in regulatory approaches across jurisdictions and minimize perceptions of regulatory risks and (d) promote competition, efficiency in operations and improvement in quality of supply. HR Initiatives Continuous efforts were made to foster harmonious human relation practices and also to ensure the development of its human resources. A brief particulars of the staff trained is as follows: Name of the Training No. of Programme Participants Participants Centre Conducted Targeted attended SPTI/Gunadala 49 1990 1729 SPTI/Kadapa 59 747 790 CTI/Tirupati 50 1253 1230 CTI/Hyderabad 70 498 459 Corporate Governance Our Company is following the best practices of Corporate Governance. We had our good Internal Audit system and Committee Meetings apart from Board Meetings as per schedule. We are attaching more importance on delivering Superior Value to our consumers. Besides maintaining our conservative financial profile, ensuring high degree of financial flexibility to capture future Growth Opportunities. To conclude, I congratulate all the employees for their efforts towards achieving the goals of the Company and improved sales performance, fairly met the Directives of Regulatory authority and other statutory authorities, initiated steps for institutional strengthening. Chairman & Managing Director Rabindranath Tagore