It is with great pride that I write to you as the CEO & Managing Director of thishistoric organisation which has carved a leadership position for itself as the largestintegrated power company over the past century. Despite the challenging environment in thepower sector in recent years it has continued to reinvent itself through its vastportfolio of Generation Transmission Distribution Power Trading Power Services CoalMines and Logistics Solar Photovoltaic (PV) manufacturing and associated EngineeringProcurement Construction (EPC) services businesses. It has expanded its internationalpresence and continues to look for viable business opportunities in both domestic andoverseas growth markets to deliver value to shareholders.
At its very inception Tata Power was driven by its Founder Shri Jamshetji Tata'svision - "Clean affordable & abundant power is one of the basic ingredients forthe economic progress of a city state or country". Tata Power remains true to thisvision of partnering consumers' growth by supplying reliable power at competitive pricing.As India moves towards self-sufficiency in power your Company is increasingly engaging oncustomer centricity by employing the best suited technologies to improve user experience.
The power sector is positioned at a juncture where multiple changes are envisaged.Digitalization decarbonisation and decentralized model of energy linkage are poised todisrupt present paradigms of business. Your Company is continually evaluatingopportunities for improvement on these fronts and integrating them within theiroperations execution and growth processes as the pioneer in the industry.
There are some challenges to functioning in a highly regulated industry. One of the keyissues being faced since Indonesia changed its coal export norms is that of CGPLcompensatory tariff. We have approached all courts of appeal and are continuing to exploreviable options to address the issues at hand including sourcing of suitably priced coalholding continued discussions with the power procuring states and finding the right legalrecourse.
Tata Power has a strong ethical value based culture which is exercised not only in itsbusiness activities but also in its interactions with its communities and throughsustainability initiatives making it a neighbour of choice. In addition responsibleemployee practices have led to an engaged and productive work force which is dedicated tokeeping your Company at the helm in the industry.
The entire team of Tata Power joins me in expressing our deep appreciation to theemployees the unions the Board of Directors all our partners and Governments at theCentre and the States; Regulators as also our international stakeholders for theirsupport cooperation and understanding. I would also like to express our appreciation toyou our shareholders for your support and understanding both in good times and inchallenging times. It will be my continuing endeavour to fulfil Tata Power's commitment tolight up lives.
CEO & Managing Director