NTPC Sail Annual Report 2016-17 04 - nspcl.co.in · PDF file1 Contents Board of Directors 2...

1

ContentsBoard of Directors 2

Selected Financial Information 6

Chairman’s Statement 8

Directors’ Report 11

CSR & Sustainable Development 19

Management Discussion and Analysis 22

Financial Statements 54

Independent Auditors’ Report 125

Comments of Comptroller and Auditor General of India 131

2

Board of Directors and Senior Management

Shri Kaushal Kishore Sharma

Shri Tej Veer Singh

Shri M.C. Jain Shri A.K. Mathur

Shri Manash SarkarCEO

Shri Revti Raman

Shri S.V.ShahiCFO

Shri Ram Gopal

Shri Sudhir Arya Shri S.S.Isser

3

CORPORATE CENTRE (CC)

PROJECTS

Bankers /Financial Institutions

Shri Manash Sarkar Shri S.V. Shahi Shri B. Ghosh Shri G.K. Moorthy

Shri S.K. Sharma Shri U.Lal Shri V.K. Dassani Ms. Umang Vats

Bhilai Rourkela DurgapurShri P.K. Upadhyaya Shri A.K. Tiwary Shri Ramesh Babu V

4th

Statutory Auditors

Chartered Accountants

Site Address

4

Operational Performance - NSPCL

Fina

ncia

l Per

form

ance

- N

SPCL

5

Financial Performance - NSPCL

6

SELECTED FINANCIAL INFORMATION

`

2016-17(Ind AS)

2015-16(Ind AS)

2014-15 2013-14 2012-13 2011-12 2010-11

A. Total Revenue

Earned from

Sale of Energy incl. cost of Coal of PP-II

252631.01 243606.60 225443.23 244628.38 255171.55 244981.17 192503.92

Total 263040.41 251309.13 162299.61 176699.18 189799.55 178006.26 144099.56

B. Paid & Provided for

Fuel

Employees Remuneration &

Generation,Administration & Other Expenses

Items

Total 197108.59 199747.18 105437.64 110460.00 123428.37 116548.66 83764.82

and Tax (PBDIT)

65931.82 51561.95 56861.97 66239.18 66371.18 61457.60 60334.74

Depreciation

(PBIT)

51211.81 37590.39 39098.38 49368.93 49665.12 45327.10 43990.47

Interest & Finance Cost

43560.14 27047.27 26741.51 37585.40 36421.01 31194.53 28504.72

38886.78 25195.73 22741.10 24659.26 24806.20 19422.94 19133.35

OCI 208.48 0.95

Total Comprehensive Income 38678.30 25194.78

Dividend

22036.78 10752.81 13141.59 14564.46 9319.86 6166.60 6981.35

C. What is Owned

Gross Fixed Assets

Intangible Asset

Net Block 196826.56 206031.16 217743.84 226164.49 238364.58 245375.52 242083.00

& Intangible assets under development

7

Financial Asset, Inventory &

Asset

Total Net Assets 312827.08 294395.01 315091.71 341576.91 352143.59 346015.97 337416.12

D. What is Owed

Total Liabilities 106122.59 100746.27 131699.55 149998.17 176181.33 193863.29 203204.14

E. Others

F. Net Worth

Share Capital

Reserves & Surplus

Net Worth 197351.15 175522.93 164777.12 153498.86 138934.41 126614.55 120448.00

G. Capital Employed 274474.74 250647.08 257951.54 262389.05 267252.90 271586.99 276920.00

H. No.of Shares 980500100 980500100 980500100 980500100 980500100 950500100 950500100

I. No.of Employees 822 845 798 818 782 779 786

J. Ratios *

Current Ratio

Debt to Equity

8

CHAIRMAN’S STATEMENT

th Annual General

Operational Highlights

reduction of Energy Charge Rate of the Station from ``

Your Company’s continued thrust on cost reduction had resulted in achievement of some best ever operational parameters in

Financial Performance

Comprehensive Income of ` `

a total income of ̀ `

largely due to the excellent operational performance by Bhilai

`

`

truing up of additional capitalisation of `

I am delighted to inform that your company had been converted

`

9

from CAG had been maintained after completion of statutory

Corporate Plan 2025

landscape, rapidly changing business scenario, regulatory

Growth Momentum

Environment management

and commitment to the environment is a high priority area for sustainable development and recognizing its importance, our

&

Your company is fully committed to ensure and provide safe

Employee Development

Corporate Social Responsibility

`

10

Corporate Governance

Maintaining high standards of transparency has been the

guideline, high value contracts are monitored by Independent

Awards and Accolades.

th

th

th

Our Gratitude

and guidance

Department and other agencies for their uninterrupted

Boards, Factory and Boiler Directorates for their constant

shall overcome the forthcoming challenges and continue to scale

Sd/-(Kaushal Kishore Sharma)

ChairmanDIN: 03014947

Place: New Delhi

11

Dear Members,

Your Directors have great pleasure in presenting the 18th Annual

Auditors’ Report and comments of the Comptroller and Auditor

1. CHANGE IN NATURE OF BUSINESS AND STATUS OF THE COMPANY

2. FINANCIAL RESULTS

st

dated 16th

customer for the life of the plant, such arrangement is in the nature

as the entire electricity & steam output of these assets is tied up

`

2016-17 2015-16

Operating Expenditure Finance CostDepreciation & Amortization Expenses

Your Company recorded a total income of ``

an increase of ̀the current year is ` `representing an increase of `

during the current year mainly due to increased price, increase in electricity duty, billing on account of increased operating

`as against `increase of `capacity charges due to issue of CERC order for the tariff period

` `

`

ended 31st

of capacity charges due to receipt of CERC order ``

due to CERC order, decrease in generation and administrative expense by `

`

3. DIVIDEND

Your Directors have recommended an interim dividend of `

dividend of `

Dividend & tax thereon amounts to `

DIRECTOR’S REPORT

12

4. TRANSFER TO RESERVES

5. OPERATIONAL PERFORMANCE

Best practices in Operation and Maintenance are adopted for sustained performance and continuous improvement of the

6.0 NEW CAPACITY ADDITION

augmentation of their production capacity, your Company has

6.1 ROURKELA PP-II EXPANSION (1X250 MW)

After tie up of all inputs and obtaining all clearances, investment

6.2 DURGAPUR PP-III (2X20 MW)

After tie up of all inputs and obtaining all clearances Investment

6.3 SOLAR PV POWER PROJECT (200 MWp)

a) DURGAPUR SOLAR PV PROJECT (20 MWp)

b) SALEM SOLAR PV PROJECT (50 MWp)

13

c) BHILAI SOLAR PV PROJECT (7 MWp) & KULTI SOLAR PV PROJECT (25 MWp)

d) OTHER SOLAR PROJECTS (98 MWp)

6.4 OTHER PROJECTS

7 R&M AND CAPITAL SCHEME

8. ENVIRONMENTAL PROJECTS

Your Company is committed to maintain safe environmental

9. COMMERCIAL PERFORMANCE

` 1261

`

plant and tariff of this plant is approved by CERC as per the extant

`

gains through trading is `

`

Power Purchase Agreements (PPAs)

10. CUSTOMER RELATIONSHIP

Your Company has also organised a Customer Meet during the

11. FUEL SUPPLY FOR BHILAI PLANT (2X250MW)

12. CERC REGULATIONS

Central Electricity Regulatory Commission Ancillary Services

spinning reserves, accounting of RRAS accounts and changes in

14

13. JUDGMENTS/ORDERS

14. ENVIRONMENTAL MANAGEMENT AND SAFETY

meteorological data monitor have been commissioned in Bhilai

Company spent approximately `

Your Company is fully committed to ensure and provide safe and

and statutory requirements and it has already formulated and

inspections are being carried out to identify unsafe conditions

improve the systems and procedures, provide training and

14.1 RISK MANAGEMENT AND INSURANCE

14.2 ASH UTILIZATION

Plant Utilization %

14.3 TREE PLANTATION

15. CORPORATE PLAN

th

16. RIGHT TO INFORMATION

in order to provide information to citizens and to maintain

17. HUMAN RESOURCE MANAGEMENT

Your Company believes in investing in human resources for

15

In order to develop a culture of learning & continuous

An Empoyee Satisfaction Survey has been conducted in your

Special focus is being given to succession planning and cadre

the planned interventions, trainings have been provided to

Several activities have been introduced for professional upgradation of Employees and to increase the interaction among

18.1 COMPANY CADRE BUILDING

and Control & Instrumentation disciplines recruited on the

18.2 EMPLOYEE WELFARE

employees and hence a lot of stress is given on enhancing

annually to ensure participation and to inculcate camaraderie

No stone is left unturned in ensuring optimal employee

18.3 TRAINING & DEVELOPMENT

expenditure as an investment for increasing the productivity

the Employees on the basis of training needs analysis and

has been developed to prepare them for the future and training

``

18.4 EMPLOYEE RELATIONS

the Management and employee groups and the meetings of all

of ideas on relevant topics is ensured during such interactions, suggestions are invited and thereon policies are formulated by

initiative that is held annually for ensuring open communication

19. CSR AND SUSTAINABLE DEVELOPMENT

20. VIGILANCE

Company

16

IMPLEMENTATION OF VARIOUS POLICIES AND CIRCULARS

implemented in your Company to build and strengthen a

TRANSPARENCY IN TENDERS

In order to promote Integrity, transparency, equity and

both sides, not to resort to any corrupt practices in any aspect/

the contracts/procurement having estimated value `

`

contracts examine complaints, if any, received by him and gives

21. LOANS AND INVESTMENTS

Your Company has not granted any loans, given any guarantee or made any investments under Section 186 of the Companies Act,

22. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY’S OPERATIONS IN FUTURE

23. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES

24. DEPOSITS

COMPANIES

Your Com

26. PREVENTION OF SEXUAL HARASSMENT OF WOMEN AT WORKPLACE

Internal Complaints Committee has been set up at Corporate

27. COMPANY WIDE ERP SYSTEM

under maintenance support from M/s Accenture for a period

28. IT AND COMMUNICATION

29. CHANGE IN THE BOARD OF DIRECTORS AND KMP’S

appointed as Nominee Director in the 149th Board Meeting held

17

st Board Meeting held on rd meeting

th

30. MEETINGS OF THE BOARD OF DIRECTORS AND ITS SUB COMMITTEES AND ATTENDENCE OF DIRECTORS

Detailed information has been provided in the Corporate

31. PERFORMANCE EVALUATION OF THE DIRECTORS AND THE BOARD

performance of directors including that of the Independent Directors/ Board/ Committees is to be carried out either by the Board or by the Nomination and Remuneration Committee or by

32. MANAGEMENT DISCUSSION AND ANALYSIS

A report on Management Discussion and Analysis is placed at

OUTGO.

Your Company has been adopting modern technology to

absorption and foreign exchange earnings and outgo is given in

34. CORPORATE GOVERNANCE REPORT

35. DEVELOPMENT AND IMPLEMENTATION OF A RISK MANAGEMENT POLICY

Mana

meetings are being held on a quarterly basis from 3rd quarter

36. STATUTORY AUDITORS

37. COST AUDITORS

Cost Accountants have been appointed as Cost Auditors for the

31st

38. REVIEW OF ACCOUNTS BY COMPTROLLER & AUDITOR GENERAL OF INDIA

39. ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE FINANCIAL STATEMENTS

40. EXTRACT OF THE ANNUAL RETURN IN FORM MGT-9

41. PARTICULARS OF EMPLOYEES

rule

42. SECRETARIAL AUDIT

Company Secretaries, to conduct Secretarial audit for the Financial

18

Observations Management’s Comments

number of Independent Directors on the Board of the

appointment of Independent Directors on the Board of the

of shortlisting candidates for appointment as

of appointing an Independent Director has

Ministry of Corporate

of appointment of a

Compliance of the provisions

composition of the Audit


composition of the Nomination


the composition of the CSR

Independent directors and performance evaluation of the directors

Requirement of Minimum number of members as

43. DIRECTORS RESPONSIBILITY STATEMENT

estimates that are reasonable and prudent so as to give a

maintenance of adequate accounting records in accordance

the Company and for preventing and detecting fraud and

44. ACKNOWLEDGEMENT

untiring efforts and contributions made by the employees at all

For and on behalf of Board of Directors


Chairman DIN : 03014947

Place: New Delhi

19

Annual Report on Corporate Social Responsibility Activities

overview of projects or programs proposed to be undertaken

All the CSR activities and sustainability programmes

tree plantation and environmental conservation activities

by a cross functional team, to assess the impact evaluation

2. The Composition of the CSR Committee.

comprising of 5 Directors recommends to Board for approval, the budget for expenditure to be incurred on CSR activities and monitors from time to time the implementation of

Sl No Name of CSR Committee Members as on

12 Shri Sudhir Arya34 Shri Revti Raman5

3. Financial Details.

Particulars 2016-17(` in lakhs)

2015-16(` in lakhs)

Amount required to be spent during YearShortfall amount of previous year

spendAmount Spent on CSRShortfall amount appropriated to CSR Reserve

20

Sl.No.

Projects of programs- specify

the district where projects or programme was

undertaken

Amount outlay (budget) project

or program weise (` In Lacs)

Amount spent on the projects or programs sub heads (1) Direct

expenditure on projects or programs (2)

overheads (` In Lacs)

Mode of Amount spent: Direct or through

implementingagency

I Eradicating hunger, poverty and malnutrition promoting preventive health care and

Durg

Direct expenditureSundergarh

Durgapur Bengal 165

IIeducation and employment enhancing

Durg


Durgapur

III

homes, day care centers and such other facilities for senior citizens and measures for reducing inequalities faced by socially and

Durg

Direct expenditure

Sundergarh

Durgapur

Olympic sports

Durg


Durgapur

Durg


Durgapur

Ensuring environmental sustainability,

conservation of natural resources and

Durg


Durgapur

``


Sd/-Tej Veer Singh

DIN : 06424792

Place: New Delhi

21

Awards

2. India Pride Award 2016 -17

th

3. ‘Outstanding & Noteworthy Accomplishments’ Award to NSPCL

Accomplishments’ in 9th

th

4. Kalinga Safety Award - 2015th Kalinga Safety

th

Engineers of Chhattisgarh State on Engineer’s Day on the occasion of 49th Engineer’s Day on 16th

6. Best Young Presenter (Female) Award at Q4E- 2016

`

th



Place: New Delhi DIN: 03014947

NSPCL Durgapur Plant

22

Management Discussion and AnalysisBUSINESS SCENARIO

Industry

An Overview of Industry developments

time, the competitive intensity is increasing at both the demand

including captive segment of the Industry have been discussed

Major highlights in 2016-17

12th

554 million ton

`

process for competitive procurement is expected to result

Installed capacity

st

Sector Total Capacity(MW)

% share

StateCentralPrivate 142624Total 326848

Generation and Capacity Utilization (PLF)

Sector 2016-17 2015-16 2014-15StateCentralPrivateAll India

Demand and Supply position

Year Reqmt.(MU)

Availability (MU)

2013-14 9,59,8292014-152015-162016-17 11,42,929 11,35,334

if there are no transmission constraints and if supplies are not

Challenge ahead

23

to

Captive Sector

one percent of the aggregate electricity generated in such plant,

higher competition, robust price discovery and boosted trading

Potential for Growth

Cement, Aluminum, electricity is one of the critical input cost

OPPORTUNITIES FOR NSPCL

Capacity Addition

a) Conventional Energy

as unde

Rourkela PP-II Expansion (1x250MW):

Durgapur PP III (2x20 MW):

Other Projects:

b) Renewable Energy

Mandate from SAIL for development of 200 MWp Solar capacity

RISKS AND CONCERNS

and to formulate action plans and strategies for mitigation of

24

Risk of not getting schedule

increased by reduction in forced outage, optimizing planned outage, arranging planned outage during lean demand period of the year and as per planned outage schedule is committed to

Risk of fuel supply

COMPETITION

INTERNAL CONTROL

has robust internal systems and processes in place for smooth

systems are in order, regular and exhaustive internal audit are

FINANCIAL PERFORMANCE

Overview

Companies Act, 1956, and the provisions of the Electricity Act,

Accounts of the Company for the year ended 31st

have been audited by the Statutory Auditors and Comptroller &

Financial Discussion and Analysis

A. Operational Results

1. Operational parameters

ParticularsYear ended 31st March

2017 2016


2017 2016

25

` in crore

Particulars Year ended 31st March2017 2016

Revenue from OperationsOther Income

Fuel

Finance costsDepreciation, amortization and impairment expenseGeneration, administration & other expenses

Other comprehensive income

2. REVENUE FROM OPERATIONS

recovery of fuel cost and unscheduled interchange charge for the

stood at ` `from operations on an overall basis have increased over the previous year, by `

due to increased price, increase in electricity duty and lessor

reduced mainly due to reduction in the Energy charges for the

` `

` in crore


2017 2016

PP-IIs

``recognition of revenue on account of materialization of deferred

increased during the current year mainly due to increased price,

PP-III

`` `crore over previous year mainly due to reduction in the Energy

3. OTHER INCOME

Other income stood at ``

the current year over the previous year is mainly on account of `

st

previous year other income include an amount of `

4. EXPENDITURE

st

31st

` in crore


2017 2016PP-III PP-II Total Total

Fuel

expenseFinance CostDepreciation & amortization expensesGeneration,administration & other expenses

26

4.1 Fuel costs

PP-IIs

``

PP-III

decreased to ``

cost for accounting of ` `

Employee costs have increased from `to `

`gratuity provision on account of increased limit under Gratuity

st

st March

31st

` in Crore

4.3 Finance Cost

PP-IIs

` `to interest received from Income tax authorities of `

`

PP-III

` `

4.4 Depreciation and Amortization Expenses

PP-IIs

`year `to earlier years of `

PP-III

``

Generation, Administration and Other Expenses comprise

maintenance, security expenses, training & recruitment, travelling

increased by ``

an amount of ``

``

`

``

`

5. PROFIT BEFORE TAX (PBT)

` `

st March ` `

``

``

`

27

In st March ` `

`of additional recovery due to receipt of CERC order ̀

`to CERC order, decrease in generation and administrative expense by ``

6. PROVISION FOR TAX

into account the Income computation and disclosure standards

``

`

`

7. NET PROFIT AFTER TAX

st `against previous year amount of `

` in Crore

`

8. DIVIDEND

`deposited dividend tax of `

`

9. SEGMENT-WISE PERFORMANCE

Deferred tax for the period ending 31st

` `

expenses, Depreciation and Income/Deferred tax for the period ending 31st ` `

B. Financial Position

1. SHARE CAPITAL

As at 31st

stood at ` `subscribed and paid up capital of the Company as at 31st March

` ``

28

2. RESERVES & SURPLUS

As at 31st `crore as against `

3. LONG TERM BORROWING

st

` in croreBank Borrowing

as on 31.03. 2017

(a)

To be paid within one

year (b)

Long term as on March 31st

2017(a)-(b)

2016

For PP-II PlantsTerm loan :-

Sub total 114.85 38.15 76.70 66.62For Bhilai Project PP-IIITerm loan:-

India

India

Rural

Corporation

Of India

Sub Total 462.61 I93.33 269.28 462.72For Rourkela & Durgapur Expansion Projects Term loan:-

Mysore

Sub Total 193.78 193.78Total 771.24 231.48 539.76 529.34

``

Department, Government of Chhattisgarh as advance against

During the year, the company has also tied up term loans for the

Internal resources of the Company are being deployed to the

4. OTHER FINANCIAL LIABILITIES (NON-CURRENT)

st

` ` `

5. PROVISIONS (NON-CURRENT)

` st

`

6. DEFERRED TAX LIABILITIES

` st

` st

``

29

7. OTHER NON-CURRENT LIABILITIES

`

8. SHORT TERM BORROWINGS

st March `

` in crore

BankAs at 31st March

2017 2016

For PP-II Plants

Sub-total 38.15 28.58

For Bhilai Project (PP-III)

Sub-Total 193.33 193.32

Total 231.48 221.90

9. TRADE PAYABLES

` st March `

custom duty and ``

`

`

`for R&M supplies, ``

10. OTHER FINANCIAL LIABILITIES

`31st

expenditure of ` ``

11. OTHER CURRENT LIABILITIES

`advances from customers of `

` `

12. SHORT TERM PROVISIONS

st

stood at ` `

`

`

13. CAPITAL EMPLOYED

at 31st

` ` st

` in crore

ParticularsAs at 31st March

2017 2016Tangible Assets

Net Block 1686.07 1812.31Intangible Assets

Capital Work in Progress and Intangible assets under development

220.37 90.18

Total 1910.17 1908.25

`

as at 31st `amount of ` `

expansion and balance of `

15. LOANS – NON CURRENT ASSETS

30

` in croreParticulars As at 31st March

2017

Total 13.42

16. OTHER FINANCIAL ASSETS

`current period as compared to that of `

17. OTHER NON-CURRENT ASSETS

st `

` `

18. INVENTORIES

Inventories mainly comprise of component & spares, Coal and

31st `against the previous year level of `

` in croreParticulars As at 31st March

2017 2016CoalFuel Oil Stores and Spares Chemicals and consumables

Others

unserviceable itemsTotal 139.53 183.80

Out of the total inventory, `includes coal inventory of ` `stores and spares `stood at ` st

19. TRADE RECEIVABLE

st `crore, pertains to energy bill raised and remained outstanding till 31st ` st

Keeping i

st

` `trade receivable considering the unbilled revenues is `

`

as at 31st

20. CASH & CASH EQUIVALENTS

st

`

` in croreParticulars As at 31st March 2017

PP-IIs PP-III Rkl & Durg Exp.

Total

Current A/c

Cash Credit Account

Total 2.89 1.93 0.32 5.14

21. OTHER BANK BALANCES

Other balance as on 31st


PP-IIs PP-III Total

Fixed Deposits

Total 51.01 329.01 380.02

22. LOANS (CURRENT)

to be made in next 12 months are also discounted and the discounted amount is transferred to deferred payroll asset are


payroll asset

Total 7.10

31

Secured employee loans represent amount of loan given against mortgage of house building, hypothecation of vehicles

23. OTHER FINANCIAL ASSETS-CURRENT

` st March


Claims recoverable

Total 126.80

24. OTHER CURRENT ASSETS

` st March ``

advance of `

advance of ``

C. Contingent Liabilities

As at 31st

` `

`

of rendering business auxiliary service to respective steel

`

`

D. Cash Flow

` in croreParticulars Year ended 31st March

2017 2016

Net cash from operating activitiesNet cash used in investing activities

CAUTIONARY STATEMENT

Statements in the Management Discussions and Analysis and

Actual results may vary materially from those expressed or implied




Place: New Delhi

32

Particulars Required Under the Companies (Disclosure of Particulars in

(A) CONSERVATION OF ENERGY

Energy Audit

A comprehensive energy audit of Boiler area insulations and

Heat Energy

D.M. Water

Lubricants

lubricant oil consumption in turbines & other equipment are

Lighting

Impact of the measures taken

Name of Station 2016-17 2015-16 % improvement over the

previous year

(B) TECHNOLOGY ABSORPTION

(iii) Foreign Exchange Earnings and outgo

Value of imports:

Spare parts,components and others `

Others `



Place: New Delhi DIN : 03014947

NSPCL Expansion Plant Bhilai

33

CORPORATE GOVERNANCE REPORTCorporate Governance is a system encompassing the entire mechanism of the functioning of a company and is about doing

and mindset of the management and is, therefore beyond the

productivity, thereby providing a competitive advantage in the

to promote corporate fairness, transparency, accountability and

efforts to adopt the best practices in corporate governance and

to uphold the core values of transparency, integrity, honesty and

1. BOARD OF DIRECTORS

implementation of the strategy and acts as a sounding board for

1.1 Size of the Board

In terms of the Articles of Association of the Company, the strength of our Board shall not be less than six Directors or more

1.2 Composition of the Board

1.3 Responsibilities

that the Company has clear goals and policies for achieving these

decision, ensures regulatory compliance and safeguards the

Board member also ensures that their other responsibilities do not impinge on their responsibilities as a Director of the Company

1.4 Board/Committee Meetings and procedure

a). Institutionalized decision making process:

up systems and procedures for advance planning of matters requiring discussion/decisions by the Board, the Company

b). Scheduling and selection of Agenda items for the Board/ Committee Meetings:

after obtaining approval of the Chairman of the Board/

and other explanatory statements are circulated in advance among the members for facilitating meaningful, informed

urgent need, meetings at times are also being called

agenda papers are circulated amongst the Board members

agenda is of sensitive nature, the same is placed on the table

and exceptional circumstances, additional and supplemental

c). Recording of minutes of proceeding at the Board Meeting.

d). Compliance

34

Details of number of Board meetings attended by Directors, attendance at last AGM, held by the Company during the

Sl.No.

Directors Meetingheld

during respective tenures of Directors

No. of Board

MeetingsAttended

Attendance at the last

AGM

9 9 Yes

Singh9 9 No

9 5 NoShri Sudhir Arya

9 9 Yes

9 8 YesShri Revti Raman

4 3 NA

Bhattacharya5 5 Yes

2 No6 No2 1 NA

1.6 Remuneration of Directors

the Board of Directors of the Company to determine

`Board/Committees of the Board constituted by the Board

2. SUB-COMMITTEES OF THE BOARD OF DIRECTORS

2.1 Investment/ Loan Sub-committee

mainly include consideration and approval of proposals for

`

any changes in the terms and conditions of the existing loans and

Meetings and Attendance

35

Members of Investment/ Loan Sub-committee

Meetings held during his tenure

Meetingsattended

5 3

5 5

Shri Sudhir Arya 5 5

5 4

2.2 Audit Committee

on Government Audit, statutory auditors and internal


Members of Audit Committee


Meetingsattended

5 5Shri Sudhir Arya 5 5

4 45 4

Shri Revti Raman 1 1

2.3 Contracts Sub-committee

upto contract value of `assignments upto contract value of ` 2 crore each and approval


Members of Contract Sub-Committee


Meetingsattended

3 33 3

Shri Sudhir Arya 3 33 13 31 11

2.4 HR/Remuneration Sub-committee

36

incentive scheme for employees on the rolls of the Company


Members of HR/ Remuneration Sub-committee

Meetings held during his

tenure

Meetingsattended

4 4

4 4


3 1

2.5 Corporate Social Responsibility (CSR) Committee

the activities referred to in the Act and


Committee attended by the members are as un

Members of Corporate Social Responsibility (CSR) Committee

Meetings held during his

tenure

Meetingsattended

3 2

2 1


3 2

2 2

2


2.6 Business Plan Committee


37

Members of Business Plan Committee


Meetingsattended

3 3Shri Sudhir Arya 3 3

3 2

Bhattacharya1 1


2.7 DOP Committee


2.8 Project Sub-Committee

``


Members of Project sub-committee


Meetingsattended

6 46 64


Bhattacharya2 2

4 1Shri Revti Raman 2 1

1 1

2.9 Enterprise Risk Management Committee

by Board


38

Members of ERMC Meetings held during his tenure

Meetingsattended

3 33 1

Bhattacharya1 1

2Shri Revti Raman 1 1

3 33 33 3

2.10 Share/Bonds Allotment Committee


3. MEANS OF COMMUNICATION

4. ANNUAL GENERAL MEETING

Date & time

September September

Special Resolution passed of Capital investment

by the company from ` `

money for the purposes of the business of the

the Board of Directors to

including

through issue of bonds for the purposes of the business of the company

up capital and its free reserves of the

a maximum ceiling of `

of Directors, under

of the Companies

charges, mortgages and hypothecations in addition to existing charges, mortgages and hypothecations created by the Company, on such movable and immovable properties, both present and future, for securing the

to be availed by the

exceeding the

and its free reserves of the company,

maximumceiling of `under section

Companies Act,

5. DIVIDEND

Details of amount of dividend given by the Company for the last

Year Paid-up Capital Total Dividend Date of AGM

` `

` `

` `

` `

6. AUDIT QUALIFICATION:

7. CODE OF CONDUCT FOR BOARD MEMBERS AND SENIOR MANAGEMENT PERSONNEL

Company’s vision and values to achieve the mission and

8. WHISTLE BLOWER POLICY

st Meeting held on March 24,




Place: New Delhi

39

Form No. MGT-9EXTRACT OF ANNUAL RETURN

I. Registration and Other Details:

CINRegistration DateName of the Company

NoName, Address and Contact details of Registrar and

II. Principal Business Activities Of The Company

Sl. No. Name and Description of main products / services

NIC Code of the Product/ service

% to total turnover of the company

S.No.

Name and Address of the Company

CIN/GLN Holding/Subsidiary/ Associate

% of shares held

Applicable Section

IV. Share Holding Pattern (Equity Share Capital Breakup as Percentage of Total Equity)

i) Category-wise Share Holding

Category of Share-holders

No. of Shares held at the beginning of the year

No. of Shares held at the end of the year

%ChangeDuring the year

Demat Physical Total % of Total

Shares

Demat Physical Total % of Total

SharesA. Promoters(1) Indian

40

Sub-total (A) (1):-(2) Foreign

Sub-total (A) (2):-Total shareholding of Promoter (A) = (A)(1)+(A)(2)B. Public Shareholding 1. Institutions

Funds

Capital Funds

Sub-total (B)(1):-2. Non-Institutionsa) Bodies Corp.

b) Individuals

shareholders holding nominal share capital upto `

shareholders holding nominal share capital in excess of `c) Others (specify)Sub-total (B)(2):-Total Public Share-holding(B)=(B)(1)+ (B)(2)C. Shares held by Custodian for GDRs & ADRsGrand Total (A+B+C) 980500100 0 980500100 100 980500100 0 980500100 100 0

41

(ii) Shareholding of Promoters

Sl.No.

Shareholder’sName

Shareholding at the beginning of the year

Share holding at the end of the year

No. of Shares

% of total Shares of the

company

% of SharesPledged /

encumbered to total shares

No. of Shares

% of total

Shares of the

company

% of Shares Pledged /

encumbered to total shares

% change in share holding

during the year

Steel Authority of India

Sl.No.

Shareholding at the beginning of the year

Cumulative Shareholding during the year

No. of Shares

% of total Shares of the company

No. of Shares

% of totalShares of the company

At the beginning of the year

Share holding during the year specifying the No Change No Change

At the End of the year

Sl.No.

For Each of the Top 10 Shareholders Shareholding at the beginning of the year


No. of Shares


No. of Shares



during the year specifying the reasons for

(v) Shareholding of Directors and Key Managerial Personnel: NIL

Sl.No.

For Each of the Top 10 Shareholders Shareholding at the beginning of the year


No. of Shares


No. of Shares



during the year specifying the reasons for

At the End of the year

42

V. INDEBTEDNESS

`

Secured Loans

Excluding deposits

Unsecured Loans Deposits Total Indebtedness

Total (i+ii+iii) 7062486450 465969783 7528456233

2532584845 2532584845

Net Change 302825039 -111205660 191619379

Total (i+ii+iii) 7365311489 7365311489

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

Sl.No.

Particulars of Remuneration Name of MD/WTD/Manager Total Amount

Gross salary

tax Act, 1961

Commission

Others, please specify

Total (A)

Ceiling as per the Act

43

B. Remuneration to other directors: No sitting fees was paid to Non-Executive Directors during FY 16-17.

Sl.No.

Particulars of Remuneration Name of Directors Total Amount

Independent Directors

Total (1) NA NA NA NA NA

Other Non-Executive Directors

Total (2)Total (B)=(1+2)Total Managerial RemunerationOverall Ceiling as per the Act

C. Remuneration to Key Managerial Personnel other than MD/MANAGER/WTD (Figures in Rs.)

Sl.No.

Particulars of Remuneration Key Managerial Personnel

CEO Company Secretary

CFO Total

Gross salary

19613113554

441695

Commission

Others, please specifyTotal 3385075 1654938 3264714 8304727

VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES: Nil. There are no such instances.

Type Section of The Companies Act

BriefDescription

Details of Penalty / Punishment / Compounding fees imposed

Authority[RD / NCLT/ COURT]

if any (give Details)

Compounding

C. OTHER OFFICERS IN DEFAULT

Compounding




Place: New Delhi

44

Sl.No.

Pending Since

Authority where cases is pending

Amount involved Reason for pendency

Deputy Commissioner `

Supreme Court of India

`

`

`

`

`

AdditionalCommissioner, Durgapur

`

`

2nd

demand of `

``

2nd

1st

` `petition and `of 1st

`

Chhattisgarh`

45

Sl.No.

Pending Since



Electricity`

of `and `Company had recovered `contingent liability and `

of `CERC, Delhi `

th `

22nd th

`nd

th

th November

` `

letter dated 6th

th

`

`

subsequently imposed a revised demand order of `

the order of ESI authorities instructing them for a fresh hearing of

Nil

Nil

Nil

Revised Claim by

Mining &

`Counter claim by

`

`

Our counter claim of `

46

Sl.No.

Pending Since



Claim by M/s Issaris `

cost amounting to `

and claimed lodged for `

Nil

Nil

Nil

Nil

the Conduct of Secret Ballot for the purpose of recognition of the

Court, Durg

Nil

Court, Durg

Nil

47

Sl.No.

Pending Since



Court, Durg

Nil

District Court, Durg Nil

ChhattisgarhNil

Court, Durg

Nil

Court, Durg

Nil

Sole Arbitrator `

ChhattisgarhNil

Nil



ChairmanDIN : 03014947

Place: New Delhi

NSPCL Bhilai Power Plant

48

Sl.

No.

Empl

oyee

N

ame

(shr

i)D

esig

nati

onTo

tal R

emu-

nera

tion

(IN

IN

R)

Nat

ure

of

Empl

oym

ent

Expe

rien

ceEx

peri

-en

ce o

f Ye

ars

Dat

e of

co

mm

ence

-m

ent

of e

mpl

oy-

men

t

Age

(in

year

s)La

st e

mpl

oym

ent

held

by

such

em

ploy

ee b

efor

e jo

in-

ing

the

com

pany

% o

f Eq

uity

shar

e ca

pita

lhe

ld

Whe

ther

any

such

em

ploy

ee

is a

rel

a-ti

ve o

f any

di

rect

or o

r m

an-

ager

of t

he

com

pany

nam

e of

su

chdi

rect

or o

r m

anag

er1

Kum

arAG

MO

nSe

cond

men

tN

O

2Ar

up K

umar

O

nSe

cond

men

t32

NO

3G

upta

AGM

On

Seco

ndm

ent

O&

M, O

S

NO

4M

ishr

aD

GM

On

Seco

ndm

ent

32

in D

ecem

ber'

NO

49

5Kr

ishn

a M

urth

y Se

thur

aman

DG

MO

nSe

cond

men

t34

in N

ovem

ber'

NO

6So

umitr

aSa

man

taAG

MO

nSe

cond

men

t24

NO

Bhat

tach

arya

GM

On

Seco

ndm

ent

35N

O

8D

assa

niG

MO

nSe

cond

men

t

C&M

3658

yrs

NO

9O

nSe

cond

men

tO

pera

tion,

C&

M,

Boile

r, O

&M

,

3659

yrs

NO

AGM

On

Seco

ndm

ent

2952

yrs

NO

For

and

on b

ehal

f of B

oard

of D

irec

tors

Sd/-

(Kau

shal

Kis

hore

Sha

rma)

Chai

rman

D

IN :

030

1494

7

Plac

e: N

ew D

elhi

54

BALANCE SHEET AS AT

PARTICULARS NOTE 31.03.2017 31.03.2016 01.04.2015

ASSETS

Non-current assets

2

3

Intangible assets 4

Intangible assets under development 5

Financial assets

Investments 6

8

9

Current Assets

Inventories 12

Financial assets

Investments 13

14

Cash and cash equivalents 15

16

18

19

Other current assets

TOTAL ASSETS 312827.08 294395.01 315091.71

EQUITY

Equity Share capital 21

Other equity 22

LIABILITIES

Non-current liabilities

Financial liabilities

23

24

25

26

28

Current liabilities


29

`

55

31

Other current liabilities 32

33

34

TOTAL EQUITY AND LIABILITIES 312827.08 294395.01 315091.71

35

1

Other Notes to Financial Statements

(Umang Vats) (S. V. Shahi) (Manash Sarkar) (Tej Veer Singh) (K.K. Sharma)

As per our report of even dateFor Amit Ray & Co.

Chartered Accountants FRN No.000483C

Sd/-(Pradeep Mukherjee)

th

Panoramic View of NSPCL Bhilai Expansion Plant

56

STATEMENT OF PROFIT AND LOSS FOR THE PERIOD ENDED

PARTICULARS NOTE 31.03.2017 31.03.2016RevenueRevenue from operations 36Other incomeTotal income 263040.41 251309.13

ExpensesFuel 38

39Finance costsDepreciation, amortization and impairment expenseGeneration, administration & other expenses 41Total expenses 219480.27 224261.86

43560.14 27047.27 Tax expenseCurrent taxCurrent yearEarlier years

Total tax expense 4673.36 1851.54

38886.78 25195.73 Other comprehensive income

208.48 0.95

Total comprehensive income for the period/year 38678.30 25194.78

42`

`

1Other Notes to Financial Statements

`





th

57

CASH FLOW STATEMENT

FOR THE YEAR ENDED (PARTICULARS) 31.03.2017 31.03.2016

A. CASH FLOW FROM OPERATING ACTIVITIES

Adjustment for:

Depreciation & Amortisation

Other Comprehensive Income

Obsolescence in stores

Arbitration Case

Shortage in stores

Interest Income

Income on Sale of mutual fund

Adjustment for:

Inventories

Other current assets

Cash generated from operations

Net cash from operating activities - A

B. CASH FLOW FROM INVESTING ACTIVITIES

Interest Income

Income on Sale of Investment

& advancesNet cash used in Investing activities - B

C. CASH FLOW FROM FINANCING ACTIVITIES

`

58

Interest paid

Dividend paid

Net increase / (decrease) in cash and cash equivalents (A+B+C)

Net cash increase / (decrease )

Reconcilation of Cash & Cash Equivalents 31.03.2017 31.03.2016 01.04.2015

Total

Note:

``





th

59

STAT

EMEN

T O

F CH

AN

GES

IN E

QU

ITY

(A) E

quit

y Sh

are

Capi

tal

For

the

year

end

ed 3

1st M

arch

201

7`

Bala

nce

as a

t 1st

Apr

il 20

16Ch

ange

s in

equ

ity

shar

e ca

pita

l dur

ing

the

year

Bala

nce

as a

t 31

Mar

ch 2

017

For t

he y

ear e

nded

31st

`

Bala

nce

as a

t 1st

Apr

il 20

15Ch

ange

s in

equ

ity

shar

e ca

pita

l dur

ing

the

year

Bala

nce

as a

t 31

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ch 2

016

(B) O

ther

Equ

ity

`

Rese

rves

& S

urpl

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ms o

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curi

ties

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SR) r

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Reta

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mea

sure

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t Eq

uity

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e

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as a

t 1

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il 20

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-

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.95)

-

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er c

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l Co

mpr

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In

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e -

-

-

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27.4

7 (2

09.4

3) -

rese

rve

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n re

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e

rede

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ion

rese

rve

Inte

rim D

ivid

end

Fina

l Div

iden

ds

Corp

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e di

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as a

t 31

Mar

ch 2

017

-

-

-

-

-

(209

.43)

-

60

For

the

year

end

ed 3

1 M

arch

201

6`

Rese

rves

& S

urpl

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ms o

f oth

er co

mpr

ehen

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inco

me

Tota

l

Capi

tal

rese

rve

Secu

riti

es

prem

ium

ac

coun

t

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s/D

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ture

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dem

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n re

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e

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ash

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as a

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Apr

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-

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.05

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-

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me

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l Co

mpr

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e -

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(0.9

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rve

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Inte

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ivid

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l Div

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e di

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1 M

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6 -

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-

(Um

ang

Vat

s)(S

. V. S

hahi

)(M

anas

h Sa

rkar

)(T

ej V

eer

Sin

gh)

(K.K

. Sha

rma)

As p

er o

ur re

port

of e

ven

date

ForA

mit

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arte

red

Acc

ount

ants

FR

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(Pra

deep

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herj

ee)

th

61

1. Company Information

A. Reporting Entity

th

B. Basis of preparation

1. Statement of Compliance

2. Basis of measurement

3. Functional and presentation currency

`information presented in INR ` has been ro

Durgapur Plant

62

1.1. Initial recognition and measurement

Items of property, plant and equipment are measured at cost less accumulated depreciation, amortization and

Assets and systems common to more than one generating unit are capitalized on the basis of engineering estimates/

1.2. Subsequent Recognition

1.3. Decommissioning costs

1.4. Derecognition

2. Capital work-in-progress

Expenses directly attributable to construction of property, plant and equipment incurred till they are ready for their intended use

Note No. 1

63

3. Intangible assets

3.1 Initial recognition

3.2 Subsequent recognition

3.3 Derecognition

4. Regulatory deferral accounts balances

5. Fly ash utilisation reserve fund

6. Borrowing costs

7. Inventories

8. Cash and cash equivalents

64

9. Foreign currency transactions and translation

Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rates of exchange

10. Revenue

Revenue from sale of energy

the associated costs can be estimated reliably, there is no continuing management involvement, and the amount of revenue can

Revenue from sale of energy is accounted for based on tariff rates approved by the Central Electricity Regulatory Commission

from sale of energy is recognized once the electricity has been delivered to the customer and is measured through a regular

11. Other Income

For all debt instruments measured either at amortised cost or at fair value through other comprehensive income, interest income

65

12. Depreciation/Amortisation

Depreciation:

Depreciation on the assets of the generation of electricity business in respect of CERC Regulated plants is charged on straight

Kutcha Roads 2 years

15 years

5 years

3 years5 years1 year

15 years

encing systems and other communication equipments6 years

Assets costing up to `

Amortization of lease hold lands and buildings:-

13. Other Expenses

to approval of feasibility report, techno economic clearance and consent of equity contribution from promoters are charged to revenue

66

as at the reporting date that have maturity dates approximating the terms of the Company’s obligations and that are

67

yields of Indian government securities as at the reporting date that have maturity dates approximating the terms of

A liability is recognised for the amount expected to be paid under performance related pay if the Company has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the

15. Leases

15.1 As Lessee

Accounting for operating leases

15.2 As Lessor

arrangement conveys the right to use the asset if the arrangement conveys to the customer the right to control the use

Accounting for Finance lease

68

Accounting for Operating lease

testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash

Impairment losses recognised in prior periods are assessed at each reporting date for any indications that the loss has decreased

17. Provisions and contingent liabilities

A provision is recognised if, as a result of a past event, the Company has a present legal or constructive obligation that can be

18. Segment reporting

on the basis of internal reports used by the Company’s Management to allocate resources to the segments and assess their

Segment capital expenditure is the total cost incurred during the period to acquire property, plant and equipment, and intangible

69

Segment assets comprise property, plant and equipment, intangible assets, trade and other receivables, inventories and other

plant and equipment have been allocated to segments based on the extent of usage of assets for operations attributable to the

Segment liabilities include all operating liabilities in respect of a segment and consist principally of trade and other payables,

19. Income tax

Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at

Additional income taxes that arise from the distribution of dividends are recognised at the same time that the liability to pay the

20. Dividends

21. Material prior period errors

Material prior period errors are corrected retrospectively by restating the comparative amounts for the prior periods presented

22. Earnings per Share

Basic and diluted earnings per equity share are also computed using the earnings amounts excluding the movements in

An asset is current when it is:

70

A liability is current when:

25. Financial instruments

25.1 Financial assets

Initial recognition and measurement

Derecognition –

71

25.2 Financial liabilities

Initial recognition and measurement

Subsequent measurement -

Financial liabilities at amortized cost

Borrowings

Derecognition

72

Use of estimates and management judgments

assumptions that may impact the application of accounting policies and the reported value of assets, liabilities, income, expenses

4. Revenues

5. Leases not in legal form of lease

6. Provisions and contingencies

7. Recent accounting pronouncements

73

Not

e 2

: Pro

pert

y Pl

ant

and

Equi

pmen

t

Gro

ss B

lock

D

epre

ciat

ion

Net

bloc

k N

etbl

ock

AS

AT

Add

ition

A

djus

tmen

t A

S AT

A

S AT

A

dditi

on

Adj

ustm

ent

AS

AT

AS

AT

AS

AT

01.0

4.20

16

31.0

3.20

1701

.04.

2016

31

.03.

2017

31.0

3.20

1731

.03.

2016

Road

s, Br

idge

s &

Cul

vert

s

Oth

er B

uild

ings

Cons

truc

tion

Equi

pmen

tsFu

rnitu

re &

Fix

ture

s

Elec

tric

al In

stal

latio

ns

Com

mun

icat

ion

Equi

pmen

ts

Capi

tal S

pare

s

Tota

l : 2

2491

0.60

8

781.

94

103

1.88

23

2660

.66

188

91.1

8 18

073.

56 6

30.1

1 3

6334

.63

196

326.

03

2060

19.4

2

Tota

l : 1

9528

9.04

2

140.

37

332

.22

1970

97.1

9 1

4057

.67

1447

4.53

42.

62

284

89.5

8 1

6860

7.61

18

1231

.37

Not

es

`

`

FY 2

016-

17FY

201

5-16

`

74

Not

e 2

: Pro

pert

y Pl

ant

and

Equi

pmen

t

Gro

ss B

lock

D

epre

ciat

ion

Net

bloc

k N

etbl

ock

AS

AT

Add

ition

A

djus

tmen

t A

S AT

A

S AT

A

dditi

on

Adj

ustm

ent

AS

AT

AS

AT

AS

AT

01.0

4.20

15

31.0

3.20

1601

.04.

2015

31

.03.

2016

31.0

3.20

1601

.04.

2015

Road

s, Br

idge

s &

Cul

vert

s

Oth

er B

uild

ings

Cons

truc

tion

Equi

pmen

ts

Furn

iture

& F

ixtu

res

Elec

tric

al In

stal

latio

ns

Com

mun

icat

ion

Equi

pmen

ts

Com

pany

Capi

tal S

pare

s

Tota

l : 3

91.7

8 -

2

70.6

6

Tota

l : (9

3.93

) -

3

8.33

`

75

Not

e 2

: Pro

pert

y Pl

ant

and

Equi

pmen

t

Gro

ss B

lock

D

epre

ciat

ion

Net

bloc

k

AS

AT

Add

ition

D

educ

tions

A

S AT

U

P TO

F

or th

e Ye

ar

Ded

uctio

n/

Am

ortis

atio

n U

P TO

A

S AT

01.0

4.20

15

01.0

4.20

15

01.

04.2

015

01.

04.2

015

01.

04.2

015

Road

s, Br

idge

s &

Cul

vert

s

Furn

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& F

ixtu

res

Cons

truc

tion

Equi

pmen

ts

Elec

tric

al In

stal

latio

ns

Com

mun

icat

ion

Equi

pmen

ts

Capi

tal S

pare

s

Tota

l : -

-

-

-

-

-

Tota

l : -

-

-

-

-

-

`

76

Note 3 : Capital Work in Progress AS AT

Additions Deductions/ Adjustments Capitalised

AS AT

01.04.2016 31.03.2017

Building

Others

Furniture & Fixtures

Construction Equipment

Communication Equipment

Electrical Installation

Total : 7301.85 17548.54 387.86 8223.04 16239.49

Survey Soil & Investigation

Total : 7866.98 17906.78 387.86 8223.04 17162.86

Capital Spares

Total : 8934.55 22436.97 1111.74 8223.04 22036.74

`

77

Note 3 : Capital Work in Progress AS AT

Additions Deductions/ Adjustments Capitalised

AS AT

01.04.2015 31.03.2016

Building

Others



Electrical Installation

Total : 400.93

Survey Soil & Investigation

Total : 400.93

Total : 723.68

`

78

Note 3 : Capital Work in Progress AS AT Additions Deductions/

Adjustments Capitalised AS AT

01.04.2015 01.04.2015

Building

Others



Electrical InstallationTotal : - - - Survey Soil & Investigation

Total : - - -

Total : - - -

`

79

` ` `

Not

e 4

: Int

angi

ble

Ass

ets

Gro

ss B

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epre

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ion

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k N

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AT

Add

ition

A

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t A

S AT

A

S AT

A

dditi

on

Adj

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ent

AS

AT

AS

AT

AS

AT

01.

04.2

016

- -

31.0

3.20

17 0

1.04

.201

6 -

- 31

.03.

2017

31.0

3.20

17 3

1.03

.201

6

TOTA

L :

926

.71

168

.16

-

109

4.86

3

50.3

3 3

73.9

4 2

.39

721

.88

372

.97

576

.38

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e 4

: Int

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A

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A

S AT

F

or th

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ar

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A

S AT

A

S AT

01.

04.2

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- -

31.

03.2

016

01.

04.2

015

- -

31.

03.2

016

31.

03.2

016

01.

04.2

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TOTA

L :

865

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50.

04

(11.

48)

926

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-

350

.33

-

350

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576

.38

865

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Not

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A

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A

S AT

F

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ar

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n A

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A

S AT

01.

04.2

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01.

04.2

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01.

04.2

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01.

04.2

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01.

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TOTA

L :

865

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-

-

865

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-

-

-

-

865

.19

80

Note 5 : Intangible Assets Under Development AS AT Additions Deductions/


01.04.2016 31.03.2017

Total : 82.58 - - 82.58 -

Note 5 : Intangible Assets Under Development AS AT Additions Deductions/


01.04.2015 31.03.2016

Total : - 94.06 - 11.48 82.58

AS AT 31.03.2017 31.03.2016 01.04.2015

Secured

Total 1342.35 1502.00 1218.64

` `

AS AT 31.03.2017 31.03.2016 01.04.2015Finance lease recoverable

Total 25508.41 18804.28 23918.05

`

`

`

`

Note No. 8 to the Financial StatementsLoans - Non Current

Note No. 9 to the Financial Statements

81

`

AS AT 31.03.2017 31.03.2016 01.04.2015

Advances

Others

Deferred payroll expense*Regulatory assetsTotal 2392.73 5136.67 9257.29

`AS AT 31.03.2017 31.03.2016 01.04.2015Coal Fuel oil Stores & spares Chemicals & consumables

Others 13972.63 18398.86 21158.77

Total 13953.43 18380.14 21114.37

`AS AT 31.03.2017 31.03.2016 01.04.2015Receivables outstanding for a period exceeding six months from the date they became due for paymentConsidered doubtful

Others considered good

Total 7114.64 1851.06 3467.05

Note No. 10 to the Financial StatementsOther non-current assets

Note No. 12 to the Financial StatementsInventories

Note No. 14 to the Financial StatementsTrade receivables - Current

82

`

AS AT 31.03.2017 31.03.2016 01.04.2015

On current account *

On cash credit account

Total 514.37 24264.06 15482.41

` `

`

AS AT 31.03.2017 31.03.2016 01.04.2015

one year

Total 38002.07 15500.00 11790.51

`

AS AT 31.03.2017 31.03.2016 01.04.2015

Secured

Total 709.88 447.77 316.84

` `

Note No. 15 to the Financial Statements Cash and cash equivalents

Note No. 16 to the Financial Statements Other bank balances

Note No. 17 to the Financial Statements Loans - Current

83

`

AS AT 31.03.2017 31.03.2016 01.04.2015AdvancesRelated parties

Employees

Others

Interest accrued on

Claims recoverable

Finance lease receivable

Total 12679.98 14788.41 18796.82

` `` ` ` `

`

AS AT 31.03.2017 31.03.2016 01.04.2015

AdvancesContractors & Suppliers, including materials issued on loan

Employees

Others

Deferred payroll expense *

Total 19591.90 2895.74 12357.26


Note No. 20 to the Financial StatementsOther current assets

84

`

AS AT 31.03.2017 31.03.2016 01.04.2015

Authorised

`of par value `

Issued, subscribed and fully paid up

`par value `

Total 98050.01 98050.01 98050.01

a) Movements in equity share capital:

b) Terms and rights attached to equity shares:

`receive dividends as declared from time to time and are entitled to voting rights proportionate to their share holding at the meetings

c) Dividend paid :

``

d)

Note No. 21 to the Financial StatementsEquity Share capital

85

`

AS AT 31.03.2017 31.03.2016 01.04.2015

Fly ash utilisation reserve fund

Corporate social responsibility (CSR) reserve

Addition during the year

General reserve


Retained earnings

Dividend paid

Total 99301.14 77472.92 66727.11

` ` ``

amount of ` `

the year the Company has spent an amount of ` `amount equivalent to unspent CSR expenditure of ` ` `transferred in earlier year to CSR reserve from retained earnings has been transferred to retained earnings during the year on

Note No. 22 to the Financial StatementsOther equity

86

`

AS AT 31.03.2017 31.03.2016 01.04.2015Term loansSecured

Unsecured

Total 53976.27 52934.40 71812.99

`AS AT 31.03.2017 31.03.2016 01.04.2015For goods and services

Total - - 50.90

`AS AT 31.03.2017 31.03.2016 01.04.2015

Others

Total 3035.95 2586.76 2412.71

Note No. 23 to the Financial StatementsBorrowings - Non Current

Note No. 24 to the Financial StatementsTrade payables


87

`

AS AT 31.03.2017 31.03.2016 01.04.2015


Total 3588.16 3006.34 2572.39

`

AS AT 31.03.2017 31.03.2016 01.04.2015

Deferred Tax Liabilities

Less: Deferred Tax Assets

Total 9353.34 18125.81 18615.04

`

Particulars Net balance1st April 2016

Recognised in statement of

Recognised in OCI

Other Net balance31st March

2017

Other items

Tax assets/(liabilities) - -

Tax assets/(liabilities)

Note No. 26 to the Financial StatementsProvisions - Non Current

Note No. 27 to the Financial StatementsDeferred tax liabilities (Net)

Movement in deferred tax balances31st March 2017

88

`

Particulars Net balance1 April 2015

Recognised in statement of

Recognised in OCI

Other Net balance31 March

2016

Deferred income

Other itemsTax assets/(liabilities) 489.23 - -

`

AS AT 31.03.2017 31.03.2016 01.04.2015

Advances from customers and others

Total 3502.25 3211.10 5658.77

`

AS AT 31.03.2017 31.03.2016 01.04.2015

Secured

Secured

Total 23147.32 22189.75 21361.43

Movement in deferred tax balances31st March 2016

Note No. 28 to the Financial StatementsOther non-current liabilities

Note No. 29 to the Financial StatementsBorrowings - Current

89

`

AS AT 31.03.2017 31.03.2016 01.04.2015

For goods and services

Total 7842.71 8891.76 9644.59

`

AS AT 31.03.2017 31.03.2016 01.04.2015

Other payablesDeposits from contractors and others Others Total 8549.59 6020.76 4834.12

`

AS AT 31.03.2017 31.03.2016 01.04.2015Advances from customers and others Other payables *Total 333.43 360.25 7509.02

`

AS AT 31.03.2017 31.03.2016 01.04.2015


1251.51 199.34 200.43 Provision for tariff adjustment


Provision for others


Total 1836.93 1065.10 4222.54

Note No. 30 to the Financial StatementsTrade payables - Current


Note No. 32 to the Financial Statements Other current liabilities

Note No. 33 to the Financial Statements Provisions - Current

90

`

AS AT 31.03.2017 31.03.2016 01.04.2015Current tax liabilities Total 309.98 480.05 1620.09

`

AS AT 31.03.2017 31.03.2016 01.04.2015

Others *Total 7309.12 8755.71 8323.71

` `* Includes an amount of ` `

`

AS AT 31.03.2017 31.03.2016

Energy salesElectricity Duty *

Energy internally consumedOther operating revenues

Total 252631.01 243606.60

`

above includes ` `

Note No. 34 to the Financial Statements Current tax liabilities (net)

Note No. 35 to the Financial Statements Contingent Liability

Note No. 36 to the Financial StatementsRevenue from operations

91

`

FOR THE PERIOD ENDED 31.03.2017 31.03.2016

Interest income from

Advance to contractors

Fly ash utilisation fund

Income tax refunds Income from current investments

Sale of scrap Miscellaneous income *

Total 10409.40 7702.53

`


Coal Furnace oil

Total 130741.19 135663.84

`


Contribution to provident and other funds

Total 16351.73 14590.45

Note No. 37 to the Financial StatementsOther income

Note No. 38 to the Financial Statements Fuel


92

`


Interest onRupee term loans Cash credit Others

8099.00 10315.52

Guarantee fee Commitment charges Finance cost for leased landSub total 8346.66 10543.12

Total 7651.67 10543.12

`


Stores consumed

Rent

Repairs & maintenanceBuildings

Others

Insurance

Rates and taxes

Communication expenses

Note No. 40 to the Financial Statements Finance costs


93

Advertisement and publicityElectricity Duty

Security expensesEntertainment expenses

Expenses for guest house

Education expenses

Miscellaneous expenses

Provisions forInterest on refund to customers

Obsolescence in storesShortage in storesArbitration case

Total 50015.67 49492.89

Details in respect of payment to auditors as AuditorsAudit Fee

In Other CapacityReimbursement of expenses & Others

Total 13.65 14.16

94

`


Contribution to provident and other funds

Total (A) (Note 39) 363.58 149.01

B. Finance costsInterest on Rupee term loans OthersTotal (B) (Note 40) 694.99 -

C. Depreciation and amortisation (Note 2) 10.87 2.66

Repair & maintenanceSale of tenderRates and taxesCommunication expenses

Advertisement & publicityEntertainment expenses

Miscellaneous expenses

E. Less: Other incomeMiscellaneous incomeTotal (E) (Note 37) - 0.03

Grand total (A+B+C+D-E) 2242.02 358.79

Note No. 42 to the Financial Statements Expenditure during construction period (net)

BhilaiDurgapur

95

`


(A) Income Tax Expense

Current tax expenseCurrent year

Deferred tax expenseOrigination and reversal of temporary differences

Reduction in tax rate

`

31.03.2017 31.03.2016

Others

At the effective income tax rate of 10.73 % (31 March 2016: 6.85%) 10.73 6.85

`


Before tax

Tax expense/ Net of tax

Before tax

Tax expense/ Net of tax

instruments measured through other comprehensive income

43. Disclosure as per Indian Accounting Standard - 12 on ‘Income taxes’

domestic tax rate

ii) Income tax recognised in other comprehensive income

96

`

Financial years 31.03.2017 Expiry date 31.03.2016 Expiry date

`

Basic and diluted earnings per share (`) 31.03.2017 31.03.2016

From operations Total (`) 3.97 2.57

`

`

31.03.2017 31.03.2016

From operations Total

(b) Weighted average number of equity shares 31.03.2017 31.03.2016Opening balance of issued equity shares Effect of shares issued during the year, if anyWeighted average number of equity shares for Basic and Diluted EPS 980500100 980500100

(B) MAT Credit available to the Company in future:

44. Disclosure as per Ind AS 33 on ‘Earnings per Share’

A. Provident Fund

` `

B. Pensionst

``

97

`

obligation Fair value of plan assets

(asset) liability31.03.2017 31.03.2016 31.03.2017 31.03.2016 31.03.2017 31.03.2016

Opening balance 72.27 36.55

Current service cost

Total amount recognised in statement of 661.61 287.90 154.63 146.07 506.97 141.83

Demographic assumptionsFinancial assumptions

Return on plan assets excluding interest incomeTotal amount recognised in OCI 181.98 (50.47) 2.08 19.09 179.90 (69.56)OthersContributions paid by the employer

Total (149.15) (166.90) (76.88) (130.35) (72.27) (36.55)

Closing balance 686.87 72.27

`

31.03.2017 31.03.2016 01.04.2015

Gratuity

Current

A. Gratuity

`` `

98

B. Post-Retirement Medical Facility (PRMF)

`

31.03.2017 31.03.2016 01.04.2015

Current

`


(asset) liability31.03.2017 31.03.2016 31.03.2017 31.03.2016 31.03.2017 31.03.2016

Opening balance 686.65 578.70 - - 686.65 578.70


Total amount recognised in statement of 95.79 78.50 41.81 - 53.98 78.50

Demographic assumptionsFinancial assumptions

Return on plan assets excluding interest incomeTotal amount recognised in other comprehensive income

81.53 81.73 3.61 - 77.92 81.73

OtherContributions paid by the employeeContributions paid by the employer

Total (50.11) (52.28) 646.60 - (696.72) (52.28)

Closing balance 813.86 686.65 692.03 - 121.83 686.65

C. Provident Fund

`

Provident Fund 31.03.2017 31.03.2016 01.04.2015

Fair value of plan assets as at year end 229.57 99.92 74.76

99

`

31.03.2017 31.03.2016 01.04.2015

Current

`


(asset) liability31.03.2017 31.03.2016 31.03.2017 31.03.2016 31.03.2017 31.03.2016

Opening balance 136.09 126.61 - - 136.09 126.61


35.63 26.00 - - 35.63 26.00

Demographic assumptions

Financial assumptions

Return on plan assets excluding interest incomeTotal amount recognised in other comprehensive income

7.22 (11.22) - - 7.22 (11.22)

Other

Contributions paid by the employer

Total (6.15) (5.30) - - (6.15) (5.30)

Closing balance 172.79 136.09 - - 172.79 136.09

100

Other Disclosures

a. Plan assets

`

31.03.2017 31.03.2016 01.04.2015Quoted Unquoted Total Quoted Unquoted Total Quoted Unquoted Total

State government securitiesCentral government securitiesCorporate bonds/debenturesFunds managed by insurer

Other receivables - - -

b. Actuarial assumptions

31.03.2017 31.03.2016 01.04.2015

Discount rateExpected return on plan assetsGratuity

Annual increase in costsSalary escalation rate

c. Sensitivity analysis Reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, holding other assumptions constant,

`

31.03.2017 31.03.2016

Increase Decrease Increase Decrease

d. Risk Exposure

101

(i) Asset volatility

(ii) Changes in discount rate

(iv) Life expectancy

`

less than 1 Year

Between 1-2 Year

Between 2-5 Years

Over 5 Years

Total

31st March 2017Gratuity

Total 289.58 373.69 429.29

`

less than 1 Year

Between 1-2 Year

Between 2-5 Years

Over 5 Years

Total

31st March 2016Gratuity

Total 219.34 170.32 338.57

`

less than 1 Year

Between 1-2 Year

Between 2-5 Years

Over 5 Years

Total

1st April 2015Gratuity

Total 201.07 92.32 351.60

`

102

f. ` `

E. Leave

` st March `

` st `amounting to ` st `

(II ) In respect of employees of NTPC Ltd on Secondment basis to NSPCL:

` ``

`

46. Disclosure as per Ind AS 17 on ‘Leases’a) Operating leases

Leases as lessee

` st `

b) Finance leases

Leases as lessor

st st

st

`

31.03.2017 31.03.2016 01.04.2015

Total minimum lease payments 739.27 278.47 364.88 242.22 488.56 239.18

Present value of minimum lease payments 278.47 278.47 242.22 242.22 239.18 239.18

103

47. Contingent liabilities and commitments (to the extent not provided for)1. Contingent liabilities

a. Claims against the company not acknowledged as debts

Capital works

Company for ̀ st ` st `

st ` st ` st `

b. Disputed tax matters

Disputed income tax/Sales tax/Excise and other tax matters pending before various Appellate Authorities amount to `st ` st `

In respect of disputed cases, the Company estimate possible reimbursement of ` st

` st `

c. Others

Other contingent liabilities amount to ` st st ` st

`

` st st ` st

`

2. Commitments

Estimated amount of contracts remaining to be executed on capital account and not provided for as on 31st

` st ` st `

48. Fair Value Measurements

`

Particulars 31.03.2017 31.03.2016 01.04.2015

FVTPL FVTOCI Amortised Cost



Financial assets

Cash and cash equivalents

Claims recoverable

Finance lease receivables

- - - - - -


104

expenditure

Interest accrued but not

Total - - - - - -

(b) Fair value hierarchy

`

Assets and liabilities which are measured at amortised cost for which fair values are disclosedAs at 31st March 2017

Level 1 Level 2 Level 3 Total

Financial assets:

Claims recoverable


-

Financial liabilities:

Total -

`

Assets and liabilities which are measured at amortised cost for which fair values are disclosedAs at 31st March 2016


Financial assets:

Claims recoverable


-


Total -

105

`

Assets and liabilities which are measured at amortised cost for which fair values are disclosedAs at 1st April 2015


Financial assets:

Claims recoverable


-


Total -

Fair values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows.

Valuation technique used to determine fair value

`

Particulars 31.03.2017 31.03.2016 01.04.2015

Carrying amount

Fair value Carrying amount

Fair value Carrying amount

Fair value

Financial assets

Claims recoverable



Total

106

49. Financial Risk Management

Risk Exposure arising from Measurement Management(a) Credit Risk Cash and cash equivalents,

assets measured at amor

"Ageing analysisCredit ratings" deposits, credit limits and

letters of credit

(b) Liquidity riskabilities ment Capital

(c) Market risk – interest rate riskvariable rates

Sensitivity analysis

Risk management framework

107

49 (a). Financial Risk ManagementCredit risk

Trade receivables

At March 31st `st `

Loans & advances


` st ` st `

` st ` st

`

(i) Exposure to credit risk

`

Particulars 31.03.2017 31.03.2016 01.04.2015

Financial assets for which loss allowance is measured using 12 months Expected Credit Losses (ECL)


Current loans

TotalFinancial assets for which loss allowance is measured using Life time Expected Credit Losses (ECL)

Total

(ii) Provision for expected credit losses

(a) Financial assets for which loss allowance is measured using 12 month expected credit losses

(b) Financial assets for which loss allowance is measured using life time expected credit losses

108

(iii) Ageing analysis of trade receivables

`

Ageing Not due 0-30 days past due

31-60 days past due

61-90 days past due

91-120 dayspast due

More than120 dayspast due

Total

Gross carrying amount -

(iv) Reconciliation of impairment loss provisions

`

Investments Trade receivables

Loans Advances Claimsrecoverable

Total

Balance as at 1 April 2015 - 140.35 - 4.29 0.06 144.70 Impairment loss recognised

Balance as at 31 March 2016 - - 4.29 0.06 Impairment loss recognised

- - 4.29 0.06

49 (b) Financial Risk Management

Liquidity risk

(i) Financing arrangements

`

Particulars 31.03.2017 31.03.2016 01.04.2015

Fixed-rate borrowings

Cash Credit FacilityFloating-rate borrowings

Total

109

31st March 2017 `

liabilities 3 months or less

3-12 months

1-2 years 2-5 years More than 5 years

Total

Finance lease obligations

Total

31st March 2016 `


3-12 months


Total


Total

1st April 2015 `


3-12 months


Total


Total

110

49 (c). Financial Risk Management

Interest rate risk

`

Particulars 31.03.2017 31.03.2016 01.04.2015

Fixed Rate Borrowings

Fixed Rate Rupee term loans

Variable-rate Borrowings

Rupee term loans

Total

`

100 bp increase 100 bp decrease

31st March 2017

Rupee term loans

Total (505.66) 505.66

31st March 2016

Rupee term loans

Total (352.88) 352.88

50. Capital Management

111

`

Particulars 31.03.2017 31.03.2016 01.04.2015

Net debt

Total equity

Gearing ratio 38.82% 28.98% 47.15%

51. Disclosure as per Ind AS 108 on ‘Operating segments’A. General Information

The following summary describes the operations in each of the Company’s reportable segments:

i) Generation of energy from PP-III:

ii) Generation of energy from PP-II:

measure performance as management believes that such information is the most relevant in evaluating the results of certain segments

`

Particulars Generation of energy

from PP-IIIGeneration of energy from

PP-II Total

31.03.2017 31.03.2016 31.03.2017 31.03.2016 31.03.2017 31.03.2016

Segment revenue

Sale of energy

Other income

Total

Segment result

Interest expenses

Depreciation and amortization

- - -

112

`

Part

icul

ars

Gen

erat

ion

of e

nerg

y fr

om P

P-III

Gen

erat

ion

of e

nerg

y fr

om P

P-II

Tota

l

31 M

arch

20

1731

Mar

ch

2016

1 A

pril

2015

31 M

arch

20

1731

Mar

ch

2016

1 A

pril

2015

31 M

arch

20

1731

Mar

ch

2016

1 A

pril

2015

Segm

ent a

sset

s

othe

r ass

ets

Tota

l ass

ets

Segm

ent l

iabi

litie

s

othe

r lia

bilit

ies

Tota

l lia

bilit

ies

than

dep

reci

atio

n

Not

e :

C.In

form

atio

n ab

out

maj

or c

usto

mer

s

``

113

52. Disclosure as per Indian Accounting Standard(IAS)-24 ‘Related Party Disclosures’

A) Related parties:

i) Jointly Controlled by Government Entities

ii) Joint Venture & Subsidiary of Promoters Company NTPC

Subsidiaries of NTPC:

Joint ventures of NTPC:

B) Key Managerial Personnel (KMP):

In Position in NSPCL

From

Shri Sudhir Arya* Director

Shri Revti Raman* Director

are included in KMP.

D) Entities under the control of the same government:

114

E) T

rans

acti

ons

wit

h th

e re

late

d pa

rtie

s ar

e as

follo

ws:

Subs

idia

ries

and

Joi

nt V

entu

re &

Pro

mot

er C

ompa

nies

as

per

A i

& ii

Sub

sidi

arie

s

Joi

nt V

entu

re C

ompa

nies

Pr

omot

er C

ompa

nies

NV

VN

UPL

NTP

C-G

E Po

wer

Ser

-vi

ces

Priv

ate

Lim

ited

NTP

CSA

IL

Part

icul

ars

20

16-1

720

15-1

620

16-1

720

15-1

620

16-1

720

15-1

620

16-1

720

15-1

620

16-1

720

15-1

6

rece

ived

by

the

Com

pany

prov

ided

by

the

Com

pany

Sa

les

of E

nerg

y

Oth

ers

Div

iden

d pa

id

`

F) C

ompe

nsat

ion

to K

ey M

anag

eria

l Per

sonn

el a

s pe

r (B

) abo

ve 2

016-

17

201

5-16

`

201

6-17

2

015-

16

115

H) Transactions with the related parties under the control of the same government as per ( D )above: `

SI. No. Name of the Company Nature of transaction 2016-17 2015-16 123

Maintenance services Freight

4 Supply of oil products 5 Supply of natural gas and oil 6

Maintenance services Maintenance services

8 service charges9 Maintenance services

Erection services 11 Freight12 Supply of oil products 13 Consultancy14 Consultancy15 Coal

I) Outstanding balances with related parties are as follows: `

As at 31st March 2017 As at 31st March 2016 As at 1st April 2015Amount Recoverable

Amount Payable

J) Terms and conditions of transactions with the related parties

st

st `

116

53. Disclosure as per Ind AS 36 on Impairment of AssetsAnalysis of PP-III as Cash Generating Unit (CGU) -

Analysis of PP-II as CGU –

Contingent Assets’

Movements in provisions: `

ParticularsProvision for tariff

adjustment Others Total

31.03.2017 31.03.2016 31.03.2017 31.03.2016 31.03.2017 31.03.2016Carrying amount at the beginning of the yearAdditions during the yearAmounts used during the year

Carrying amount at the end of the year 585.42 854.22

i) Provision for tariff adjustment

ii) Others

iii) Sensitivity of estimates on provisions

55. First-time Adoption of Ind AS - (Ind AS -101)st

up to and including the year ended 31st

Company’s Ind AS Opening Balance Sheet is 1st

st

st

opening Ind AS Balance Sheet as at 1st

Statements must use recognition and measurement principles that are based on standards and interpretations that are effective at

117

31st

st

st

Exemption and exceptions availed

In the Ind AS Opening Balance Sheet as at 1st

31st st

ii) Business combinations

iii) Arrangements containing a lease

Reconciliation of Balance Sheet as at 1st April 2015 and as at 31st March 2016 `

Note01.04.2015 31.03.2016

Previous GAAP*

Adjustments Ind AS Previous GAAP*

Adjustments Ind AS

AssetsNon-current assets

23

Other Intangible assets 4Intagible assets under development

5

Financial assets - 89

Total non-current assets

118

Current AssetsInventories 12Financial assets

14Cash and cash equivalents 15

16

18

Other current assetsTotal current assets (570.29)Total AssetsEQUITYEquity Share capital 21Other equity 22Total equity 537.75 LIABILITIESNon-current liabilities Financial liabilities

23242526

28Total non-current liabilitiesCurrent liabilitiesFinancial liabilities

29

31Other current liabilities 32

3334

Total current liabilitiesTOTAL EQUITY AND LIABILI-TIES

119

st March 2016

`

Note Previous GAAP*

Effect of transition to Ind AS

Ind AS

INCOME

36

Other income

TOTAL REVENUE 171580.48

EXPENDITURE -

Fuel cost 38

39

Finance expenses

Depreciation and amortization

41

TOTAL EXPENSES

841.39

Deferred tax

511.68

Other comprehensive income

Income tax on other comprehensive income

- (0.95) (0.95)

Total comprehensive income for the year 510.73

Reconciliation of Equity as at 1st April 2015 and 31st March 2016 `

Note 01.04.2015

Equity as reported under Indian GAAP 3 & 3A

Equity as per Ind As 22

120

`

Note 31.03.2016Equity as reported under Indian GAAP 3Less:

OCI

TotalAdd:

Reduction in Employee Cost & Recognition of OCI

TotalEquity as per Ind As 22

(a) Financial assets

` st

` ` `

(b) Financial liabilities

`st

` `` `

121

As a result, Other compreshensive income increase by `

(d) Borrowings

On transition date the carrying value of property, plant and equipment has been reduced by `st

been reduced by `by `` `

(f) Proposed Dividend st

`1st `

the year ended on 31st ` `

loss of `

` `31st `

`

(h) Deferred taxes

122

The above changes increased (decreased) the deferred tax liability as follows:

`

Note 01.04.2015 31.03.2016

Financial assetsFinancial liabilities

Total 27 (596.21) 266.50 (i) Sale of electricity

increased by `(j) Retained earnings :

(k) Other comprehensive income

(m) Lease Arrangements

``

56. Information in respect of micro and small enterprises as at 31st March 2017 as

`

Particulars 31.03.2017 31.03.2016 01.04.2015

Interest due thereon

under Section 23 of MSMED Act

123

57. Corporate Social Responsibility Expenses (CSR)

`

Particulars 31.03.2017 31.03.2016

Shortfall amount appropriated to CSR reserve

58.

st

` ``

` `

During the year the Company has provided `

59.st

constituted the 3rd

th

`

Further, the 3rd `` st `

60.

124

61.`

62.

63.` `

`

64(a).

64(b).

65.

66.

67.





th

125

To the Members of NTPC-SAIL Power Company Limited

statements

accounting principles generally accepted in India including the

Act for safeguarding of the assets of the Company and for

design, implementation and maintenance of adequate internal

accuracy and completeness of the accounting records, relevant

Auditors’ responsibility

Our responsibility is to express an opinion on these Ind AS

account the provisions of the Act, the accounting and auditing

audit report under the provisions of the Act and the Rules made

Independent Auditors’ Report

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the Ind

evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made

and appropriate to provide a basis for our audit opinion on the

Opinion

In our opinion and to the best of our information and according

statements give the information required by the Act in the

Other Matters

the accounting principles adopted by the Company on transition

126

and according to the information and explanations given

th

the operating effectiveness of such controls, refer to our

opinion and to the best of our information and according

explanations given to us, the Company did not have any long term contracts including derivative contracts for

For Amit Ray & CoChartered Accountants

Firm’s Registration No.-000483C

Sd/-Pradeep Mukherjee

Place : New Delhi Partner

127

Annexure referred to in our report of even date to the members of NTPC-SAIL Power Company Limited on the Ind

having regard to the size of the Company and the

has been done at all the units of the company during

to us and on the basis of our examination of the records of the Company, the title/lease deeds of all the immovable properties are held in the name of the

or other parties covered in the register maintained under

investment or given any guarantee and security covered

ANNEXURE -`A’ to the Independent Auditor’s Report

or any other relevant provisions of the Companies Act

maintained by the company pursuant to the rules made by the Central Government for maintenance of cost record

the prescribed accounts and records have been made

service tax, custom duty, excise duty, value added tax, cess and other statutory dues have generally been

and there are no undisputed dues outstanding as on 31st

explanation given to us, there are disputed dues of

account of matters pending before appropriate st

Name of the Statute Nature of Dues Amount(` in Lakhs)

Period Forum before which Dispute is pending

Supreme Court Delhi

Finance Act, 1994

Additional Commissioner of Central

Building and other Construction

Employees State Insurance Act, 1948 ESI

128

explanations given to us, the Company has not defaulted

Company has no dues from Government or debenture

as per the information and explanation given to us by the management, the company has not raised any money by

and as represented by the Management and based on our

issued by the Ministry of Corporate Affairs, Government of

private allotment or fully or partly convertible debentures

them as covered under Section 192 of the Companies Act,


Firm’s Registration No.-000483C



129

Annexure referred to in our report of even date to the members of NTPC-SAIL Power

st March 2017

S.No. Directions Reply Impact on

please state the area of freehold and leasehold land leasehold land and found that Company Nil

According to information and explanation Nil

Yes, proper records are maintained for In

government or other authorities during the Nil


Firm’s Registration No.000483C



ANNEXURE -’B’ to the Independent Auditor’s Report

130

ANNEXURE ‘C’ to the Independent Auditor’s Report

Annexure referred to in our report of even date to the members of NTPC-SAIL Power Company Limited on the Ind

st March 2017

Report on the Internal Financial Controls under Clause (i) of

as of 31st

Management’s Responsibility for Internal Financial Controls

Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial

include the design, implementation and maintenance of adequate

including adherence to company’s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the

Auditors’ Responsibility

Our responsibility is to express an opinion on the Company’s

Note on Audit of Internal Financial Controls over Financial

issued by ICAI and deemed to be prescribed under section

of Internal Financial Controls and, both issued by the Institute

and plan and perform the audit to obtain reasonable assurance

Our audit involves performing procedures to obtain audit

operating effectiveness of internal control based on the assessed

and appropriate to provide a basis for our audit opinion on

Meaning of Internal Financial Controls over Financial Reporting

a process designed to provide reasonable assurance regarding

provide reasonable assurance that transactions are recorded as

that receipts and expenditures of the company are being made

regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could

Inherent Limitations of Internal Financial Controls over Financial Reporting

or improper management override of controls, material misstatements due to error or fraud may occur and not be

reporting may become inadequate because of changes in

Opinion

in our opinion, the Company has, in all material respects, an

by the Company considering the essential components of internal control stated in the Guidance Note on Audit of internal Financial Controls Over Financial Reporting issued by the Institute of


Firm’s Registration No.-000483

Sd/-Pradeep Mukherje

Place: New Delhi Partner

132

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