Faridabad News, 30 Sep 2021 : NHPC Limited, hosted its 45th Annual General Meeting (AGM) through video conferencing from its Corporate Office, Faridabad on 29th September 2021. The management of the company recommended a dividend of Rs 1.60/- per equity share for the year 2020-21, which is inclusive of interim dividend of Rs 1.25/- per equity share paid in March 2021. Shri A.K. Singh, CMD, NHPC addressed the shareholders at the AGM wherein members of NHPC Board and Company Secretary, NHPC were also present. CMD highlighted key achievements made by NHPC despite the challenges posed due to CoVID-19 pandemic. Shri Singh informed that NHPC earned its highest ever profit of Rs 3233 crore in financial year 2020-21, which is 7.52 percent higher than the previous year. He further highlighted upon NHPC’s achievements during financial year 2020 21 on various operational and financial fronts. He said that NHPC had generated 24,471 MUs of electricity against the Design Energy of 23,612 MUs. Shri Singh informed that NHPC achieved its highest ever realization of outstanding dues of Rs. 10,114 crore from beneficiaries and made a contribution of Rs. 1,118.90 crore to Government of India’s exchequer through dividend.
Shri Singh also informed about the successful acquisition of Jalpower Corporation Limited (JPCL) as a wholly owned subsidiary company for the implementation of Rangit-IV HE Project (120 MW) in Sikkim through Corporate Insolvency Resolution Process (CIRP) and elimination of teething problems at Kishanganga Power Station, thereby increasing the annual generation of the power station by 30.86% year-on-year. He further said that in line with the strategic intent to ensure sustained growth, NHPC has formed a Joint Venture Company (Ratle Hydroelectric Power Corporation Limited) with Jammu and Kashmir State Power Development Corporation Limited (JKSPDCL) on June 1, 2021 with equity participation of 51:49 respectively, for implementation of Ratle Hydroelectric Project (850 MW) in the Chenab River Basin in Union Territory of Jammu and Kashmir. In addition, NHPC has acquired 2% equity stake of PTC India Limited (PTC) in Chenab Valley Power Projects Private Limited [Earlier a Joint Venture Company of NHPC (49%), JKSPDCL (49%) and PTC (2%)] in June, 2021, thereby making it a Subsidiary Company of NHPC.
During his address, Shri A.K. Singh, CMD, NHPC also informed Signing of important Memorandum of Understanding (MoU) by NHPC which included MOU with JKSPDCL for execution of Sawalkot (1856 MW), Uri-I (Stage-II) (240 MW), Dulhasti (Stage-II) (258 MW), Hydro-electric Projects (to be implemented by NHPC) and Kirthai-II H.E. Project (930 MW) (to be implemented by CVPPPL) in UT of Jammu & Kashmir, Bihar State Hydroelectric Power Corporation Limited (BSHPC) on June 14, 2021 for implementation of Dagmara HE Project (130.1 MW) in Supaul District of Bihar, Indian Renewable Energy Development Agency Limited (IREDA) with a view to increase NHPC’s footprint in renewable energy in the Country, NTPC Limited for ‘cooperation in overseas power sector’ to facilitate taking up project development, capacity building, O&M, RMU and other consultancy assignments outside India and with PFC Limited to facilitate in expanding NHPC’s energy portfolio in development of Hydroelectric Power Projects and acquisition of assets through NCLT.
CMD, NHPC also highlighted that during the first quarter of current financial year 2021-22, the net profit of NHPC was Rs.912.26 crore thereby registering a growth of 26% as compared to first quarter of previous year.
Various queries of members regarding performance of the Company were also addressed at the AGM.
