ROHIT GOEL's Project BBA IV _Saturday- Sunday_

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ROHIT GOEL's Project BBA IV _Saturday- Sunday_ Powered By Docstoc

Submitted By                                      Guidance Of
Rohit Goel                                        Aditya Vij

Bharati Vidyapeeth University Institute of Management and Research
 An ISO 90001:2000 Certified institute NAAC Accredited grades “A

                     STUDENT DECLARATION

This is to certify that I have completed the Industrial Report titled “ NATIONAL
THERMAL POWER CORPORATION” under the guidance of Prof. Aditya Vij in the
partial fulfillment of the requirements for the award of the Degree of Bachelor in
Business Administration from Bharati Vidyapeeth University, Pune.
been given to me as part of the Bachelor Degree in Business Administration.
       I have tried my best to present this information as clearly as possible using basic
terms that I hope will be comprehended by the widest spectrum of researchers, analysts
and students for further studies.

This is an original piece of work & I have not submitted it earlier elsewhere.

Rohit Goel


This is to certify that the project titled “NATIONAL THERMAL POWER
CORPORATION” Is a bonafide work carried out by Rohit Goel, a student of Bharati
Vidyapeeth Institute of Management & Research, University of Pune. It is submitted in
partial fulfillment of the requirement for the award of the Degree of BBA under our
guidance and direction.

       To the best of our Knowledge, it is an original piece of work.

 Aditya Vij


This is to certify that the project titled “NATIONAL THERMAL POWER
CORPORATION” Is a bonafide work carried out by Rohit Goel, a student of Bharati
Vidyapeeth Institute of Management & Research, University of Pune. It is submitted in
partial fulfillment of the requirement for the award of the Degree of BBA under our
guidance and direction.

       To the best of our Knowledge, it is an original piece of work.

Director of BVIMR



The successful completion of the project would have been far from reality without
mentioning the people who made an indelible impression while making the project.

All the very outset thanks to Mr. Aditya Vij for instructing me and providing me the
opportunity to participate in the project and sharing her invaluable knowledge and
experience with me. Her innovative ideas provided me clarity of thoughts which helped
me to think in the right way.
Without her help and guidance completion of the project report would have been very
difficult. I would also like to give gratitude to all the other faculties who helped me in
making the project worth wile and successful.

I would also like to express my gratitude to Dr. S.S Vernekar [director], BVIMR, New
Delhi for providing all needful facilities in the campus and the best faculty for the
Their thoughtful ideas, comments and conceptual insight into the subject kept me from
floundering in my quest. Despite their busy schedule they spared valuable moments for
reviewing and rectifying this project work.

Due to the proper guidance the making of project report became an enjoyable experience
and easy to workout.

                                                                 ROHIT GOEL
                                                                 BBA SEM- IV


                       TOPICS        PAGE



INTRODUCTION & HISTORY               10-17


VISION , MISSION AND VALUE           22-24


PRODUCT AND SERVICES                 37-44

COMPETITORS                          45-54

FINANCIAL INFOR M AT ION             5 5 -6 2


ANNXURE                                67

BIBLIOGRAPHY                           68

Overview of Organisation

India‟s largest power company, NTPC was set up in 1975 to accelerate power
development in India. NTPC is emerging as a diversified power major with presence in
the entire value chain of the power generation business. Apart from power generation,
which is the mainstay of the company, NTPC has already ventured into consultancy,
power trading, ash utilisation and coal mining. NTPC ranked 317th in the „2009, Forbes
Global      2000‟       ranking      of     the    World‟s     biggest      companies.

The total installed capacity of the company is 30, 144 MW (including JVs) with 15 coal
based and 7 gas based stations, located across the country. In addition under JVs, 3
stations are coal based & another station uses naptha/LNG as fuel. By 2017, the power
generation portfolio is expected to have a diversified fuel mix with coal based capacity of
around 53000 MW, 10000 MW through gas, 9000 MW through Hydro generation, about
2000 MW from nuclear sources and around 1000 MW from Renewable Energy Sources
(RES). NTPC has adopted a multi-pronged growth strategy which includes capacity
addition through green field projects, expansion of existing stations, joint ventures,
subsidiaries and takeover of stations.
NTPC has been operating its plants at high efficiency levels. Although the company has
18.79% of the total national capacity it contributes 28.60% of total power generation due
to its focus on high efficiency.

In October 2004, NTPC launched its Initial Public Offering (IPO) consisting of 5.25% as
fresh issue and 5.25% as offer for sale by Government of India. NTPC thus became a
listed company in November 2004 with the government holding 89.5% of the equity
share capital. The rest is held by Institutional Investors and the Public. The issue was a
resounding success. NTPC is among the largest five companies in India in terms of
market capitalisation.

At NTPC people before Plant Load Factor is the mantra that guides all HR related
policies. NTPC has been awarded No.1, Best Workplace in India among large
organisations for the year 2008, by the Great Places to Work Institute, India Chapter in
collaboration with The Economic Times.
The concept of Corporate Social Responsibility is deeply ingrained in NTPC's culture.
Through its expansive CSR initiatives NTPC strives to develop mutual trust with the
communities that surround its power stations.
Right from social to developmental work of the community and welfare based
dependence to creating greater self reliance; the constant endeavour is to institutionalise
social responsibility on various levels.




NTPC, India's largest power company, was set up in 1975 to accelerate power
development in India. Today, it has emerged as an „Integrated Power Major‟, with a
significant presence in the entire value chain of power generation business.
NTPC ranked 317th in the „2009, Forbes Global 2000‟ ranking of the World‟s biggest
companies. With a current generating capacity of 30,144 MW, NTPC has embarked on
plans to become a 75,000 MW company by 2017.


Down the Memory Lane

A Retrospective

NTPC has come a long way from the day when construction of its first pithead super
thermal power project at Singrauli in Uttar Pradesh commenced. Here is a retrospective
which chronicles NTPC‟s achievements, year after year.

History of the Corporation



      Incorporated on November 7


      Shri D.V. Kapur took over on March 19 as the first Chairman & Managing
       Director of NTPC


      NTPC acquired the first patch of land at Singrauli in September
      The first batch of executive trainees joined the Company


      Takeover of management of the Badarpur project
      Implementation of Korba and Ramagundam Projects cleared by the Government
       of India in January and February respectively


      Government of India approved the implementation of Farakka Project in March

      The authorised share capital of the Company rose from Rs.125 crore to Rs. 300


      Former Soviet Union offered to assist in setting up of power stations. Vidhayachal
       was identified as the first project for such assistance
      The authorized share capital was raised from Rs. 300 crore to Rs. 800 crore in


      Dr. Shankar Dayal Sharma, the then President of India visited Singrauli in 1981
       as Chairman of the Estimate Committee of Parliament Members


      The first 200MW unit at Singrauli was commissioned
      The first direct foreign currency borrowing for NTPC- a consortium of foreign
       banks led by Standard Chartered Merchant Bank extended a loan of GBP 298.41
       million for the Rihand project


      On March 1, the first 200 MW unit of Korba Super Thermal Power Project was
       commissioned in a record time of 48 months after the placement of order for the
       main plant equipment
      Another significant achievement was the supply of uninterrupted power from
       Badarpur during Asian Games and Non-Aligned Meet held at Delhi in 1983


      The transmission line based on HVDC (High Voltage Direct Current) technology,
       commissioned for power transmission from Rihand to Delhi
      Singrauli project received a World Bank loan of USD 150 million through the
       Government of India


      This year marked the completion of a decade (1975-1985) of NTPC‟s existence.
       NTPC achieved a generating capacity of 2200 MW by commissioning 11 units of
       200 MW each at its various projects in the country


      Synchronisation of its first 500 MW unit at Singrauli
      Became one of the first PSUs to issue bonds in the debt market
      NTPC launched its maiden public issue of Bonds and raised a total of Rs. 163.37
       crore. This issue was over-subscribed by 63 percent


      Crossed the 5000 MW installed capacity mark
      Korba also entered the 500 MW phase by synchronizing its first 500 MW unit on
       May 31st


      Raised first syndicated Japanese loan of 30 billion JPY
      Rihand entered the Operational phase by commissioning its first 500 MW unit on
       March 31


      Consultancy division launched
      First unit (88 MW) of first gas based combined cycle power plant at Anta,
       Rajasthan commissioned


      Total installed capacity crossed 10000 MW


      Vindhyachal recorded completion of stage I activities by synchronising its sixth
       and last 210 MW unit in February
      The first unit of NCPP (Dadri) was commissioned on December 21st


      Acquisition by the Company of Feroze Gandhi Unchahar Thermal Power Station
       (2x210MW) from Uttar Pradesh Rajya Vidyut Utpadan Nigam of Uttar Pradesh
      Pursuant to legislation by the Parliament of India, the transmission systems owned
       by the company was transferred to Power Grid Corporation of India Limited


      For the first time, IBRD extended direct loan of USD 400 million under time slice
       concept for its projects


      Crossed 15000 MW of installed capacity
      Declared a dividend of Rs. 65 crore for the first time


      NTPC celebrated 20 years (1975-1995) of its existence. Various programmes
       were organised to mark its twentieth anniversary
      A new logo was adopted


      Continuous running of sixth unit (210 MW) of Ramagundam for 406 days for the
       first time in India
      PLF of Talcher Thermal reached 43.7 % from 18.7 % at the time of takeover


      Identified by the GoI as one of the Navratna public sector undertakings
      Achieved 100 billion units generation in one year


      Commissioned the first Naphtha based plant at Kayamkulam with a capacity of
       350 MW


      Dadri Thermal Power Project, Uttar Pradesh adjudged the best in India with a
       PLF of 96.12%
      Dadri, Uttar Pradesh certified with ISO-14001 on October 7th


      Commenced construction of a first hydro-electric power project of 800MW
       capacity in Himachal Pradesh


      Main plant turnkey package of Rihand Stage-II (2x500MW) and Ramagundam
       Stage-III (IX 500 MW) were awarded to BHEL in August


      Three wholly owned subsidiaries of NTPC viz. NTPC Electric Supply Company
       Limited, NTPC Hydro Limited and NTPC Vidyut Vyapar Nigam Limited
      Crossed the 20000 MW installed capacity mark


      Raised funds through bonds (Series XIIIth & XIVth) for prepayment of high cost
       GOI loans
      Main dam work of Koldam was awarded to Italian Thai Development in


      NTPC became a listed company
      NTPC made its debut issue of euro bonds amounting to USD 200 million in the
       international market


      NTPC received the International Project Management Award, 2005 for its
       Simhadri project at the International Project Management Association World
       Congress. NTPC became the only Asian Company to receive this award


      For the fourth consecutive year, NTPC continued to realize 100% of current bills
      On June, 1, the Badarpur Thermal Power Station with an installed capacity of 705
       MW was transferred to NTPC by the Government of India

      Ministry of Coal, Government of India granted in-principle approval for
       allocation of a new coal block, namely, Chhati Bariatu South to NTPC, subject to
       the conditions stipulated in the approval letter. The share of reserves was
       indicated as 354 million tonnes
      Tripartite agreement signed with the Government of Assam, Assam Power
       Generating Co. Ltd., and NTPC for transfer of existing plant at Bongaigaon and to
       set up a new plant of 750 MW with 3 units of 250 MW each


      Joint Venture Company under the name “National Power Exchange Limited” was
       incorporated on 11th December 2008 with NHPC Ltd., PFC Ltd., and TCS Ltd.,
       to operate Power Exchange at national level
      NTPC was ranked Number 1 in the 'Best Work places for Large Organisations'
       and Number 8 overall for the year 2008 by Great Places to Work Institute's, India
       chapter in collaboration with the Economic Times


      500 MW Unit VI of Sipat brought under commercial generation
      NTPC has achieved the highest ever single day generation of 655.22 MUs on 2nd
       March, 2009 with highest ever single day coal based generation of 579.02 MUs


Registered Office     NTPC Bhawan,
                      SCOPE Complex 7,
                      Institutional Area,
                      Lodi Road,
                      New Delhi – 110003, Delhi

Management Details    Chairperson and MD: T Sankaralingam
                      Directors: C Roy, RS Sharma, RK Jain, AK Singhal, RC
                      Shrivastav, KB Dubey, H Chandra, A Misra, GP Gupta, MI

Business Operation    Power generation

Background            NTPC Ltd (NTPC), a Navratna company, was incorporated
                      in 1975. The company‟s principal business comprises
                      generation and sale of bulk power. Its other lines of business
                      include consultancy services in engineering, project
                      management, construction management, operation, and
                      maintenance of power plants. It is also engaged in oil and
                      gas exploration, and coal mining.

Business Profile      NTPC generates power through 15 coal-based power plants
                      with 22,895 MW capacity, 7 gas-based power plants with
                      3,955 MW capacity, and 4 JV projects with 1,054 MW
                      capacity. It sells power to bulk consumers, mainly SEBs.
                      As of FY07, NTPC‟s total installed capacity stood at 27,904
                      MW. For FY07, it generated 188.674 BU of electricity,
                      recording growth of over 10% y-o-y; income from the sale of
                      electricity constituted 92% of gross income. During FY07,
                      PLF at its coal and gas stations stood at nearly 89% and
                      72%, respectively. In Mar 2007, NTPC signed a MoU .

Financials            Total Income: Rs 353442.0 Million (Year ending March
                      Net Profit: Rs. 68538.0 Million (Year ending March 2007)

Company Secretary     AK Rastogi

Bankers               Alhd Bank, AB, BoB, Canara, CBI, Dena, Indian Bank, IOB,
                      ICICI Bank, JKB, OBC, PNB, SBBJ, SB Mysore, SBH, SBI,
                      SB Patiala

Auditors              Amit Ray and Co, Umamaheswara Rao and Co, Kalani and
                      Co, TR Chadha and Co, SN Nanda and Co

Ranking               Income: 8
                      Net Profit: 3
                      Net Worth 3


Joint Ventures
    Name of the    Date of
                             Promoter‟s Equity Holding
   Joint Venture   Incorp-                                       Area(s) of Operation
                                  as on 31.3.2008
     Company       oration
                         NTPC       5.28%                Trading of power, import/export
                         NHPC       5.28%                of power and purchase of power
  PTC     India
1               16.04.99 PFC        5.28%                from identified private power
                         Power Grid                      projects and selling it to identified
                                    5.28%                SEBs/others.
                         NTPC           50%              To take up assignments of
                         Reliance                        construction,      erection     and
2 Powertech     23.11.95
                         Infrastructure 50%              supervision in power sector and
  Limited (UPL)
                         Ltd.                            other sectors in India and abroad.
                                                         To own and operate a capacity of
                                                         564 MW as captive power plants
                                                         for SAIL‟s steel manufacturing
  Power                 NTPC             50%
3              08.02.99                                  facilities located at Durgapur,
  Company Pvt.          SAIL             50%
                                                         Rourkela and Bhilai. Another unit
                                                         of 250 MW is expected to be
                                                         commissioned shortly.
  NTPC-Alstom          NTPC              50%
                                                         To take up Renovation &
  Power                Alstom
                                                         Modernization assignments of
4 Services    20.09.99 Power
                                         50%             power plants both in India and
  Private              Generation
  Limited              AG
                                                         To set up a coal-based power
                       NTPC        50%                   station of 1000MW capacity, at
  NTPC Tamil
                       Tamil Nadu                        Vallur , using Ennore port
5 Nadu Energy 23.05.03
                       Electricity 50%                   infrastructure   facilities.  The
  Company Ltd.
                       Board                             construction work at site is under
                                                         To take over and operate gas
  Ratnagiri Gas                                          based Dabhol Power Project
6 and power Pvt. 08.07.05 NTPC           28.33%          alongwith LNG terminal. NTPC‟s
  Limited                                                shareholding is to be revised to

                        NTPC           50%      To     jointly     undertake  the
                        Singareni               development and operation &
7              31.07.07 Collieries              maintenance of coal Blocks and
  Venture Pvt.                         50%
                        Company                 integrated coal based power
                        Ltd.                    projects in India and abroad.
                         NTPC          50%
                                                To set-up a power plant of 1320
  Meja     Urja                                 MW (2X660 MW) at Meja Tehsil
8 Nigam Private 02.04.08                        or any other suitable site in
                         Vidyut        50%
  Limited                                       Allahabad district in the state of
                                                Uttar Pradesh.
                                                To carry        out    Engineering
                                                Procurement and Construction
                          NTPC         50%
                                                (EPC) activities in the power
  NTPC BHEL               Bharat
                                                sector and to engage in
9 Power Projects 28.04.08 Heavy
                                       50%      manufacturing and supply of
  Pvt Ltd.                Electrical
                                                equipment for power plants and
                                                other infrastructure projects in
                                                India and Abroad.
                                                To establish a facility to take up
                                                manufacturing       of     castings,
  BF-NTPC                                       forgings, fittings and high
                          NTPC         49%
  Energy                                        pressure piping required for
10               19.06.08 Bharat Forge
  Systems                              51%      power      projects    and     other
  Limited                                       industries, Balance of Plant
                                                (BOP) equipment for the power
  Nabinagar                                     To set-up a coal based power
                          NTPC        50%
  Power                                         project having capacity of 1980
                          NTPC Bihar
  Generating                                    MW (3X660 MW) and operation
11               09.09.08 State
  Company                             50%       & maintenance thereof at
  Private                                       Nabinagar in district Aurangabad
  Limited                                       of State of Bihar.
  National                NTPC         16.67%
  Power                   NHPC         16.67%   To operate a Power Exchange at
12               11.12.08
  Exchange                PFC          16.66%   National level.
  Limited                 TCS          50%

Vision And Mission


"A world class integrated power major, powering India‟s growth, with increasing global

“Develop and provide reliable power, related products and services at competitive prices,
integrating multiple energy sources with innovative and eco-friendly technologies and
contribute to society.”

Vision, Mission and Values

Our Vision
      Peers and stakeholders will recognize us as one of the best managed and operated
       utilities in Canada based on our record of providing environmentally sound, safe,
       reliable, cost-effective energy and related services in the territories.

      Our shareholder will benefit from the economic returns of our profitable,
       financially strong company.

      Our customers will have the tools and knowledge they need to understand energy
       consumption, drivers of consumption and how to conserve energy.

      Communities will see us as preferred partners, contributing to the future energy
       plan for the NTPC and assisting them to complete their local energy plans.

      Partners will join with us to be major contributors to the development and
       operation of new energy resources in ways that meet the North‟s unique
       environmental needs.

      Residents of the NTPC and our Shareholder will support the benefits of a business
       model for NTPC that provides least-cost electricity to customers in the National

      Employees will see us as a great place to work – innovative, proactive and driven
       to meet the expectations of our shareholder, customers and communities.

Mission Statement

Position NTPC for future sustained, profitable growth through:

      Customers – Providing excellent value and service to our customers, delivering
       them reliable service and fostering efforts to conserve energy.
      Communication - Establishing and advocating strategies which support open,
       timely and informative communication to build the support of customers,
       employees and other stakeholders for the achievement of our corporate Vision.
      Return – Improve efficiency in order to control costs, over the long term while
       consistently delivering 100 percent of forecast net income.

      Employees – Strengthening the Corporation by emphasizing employee safety and
       development by encouraging and supporting a workplace where employees feel
       valued and recognized for their efforts.
      Environment – Demonstrating environmental leadership, implementing cost-
       effective energy conservation and alternative energy programs and maintaining
       our facilities to a high environmental standard.
      Partnerships – Pursue partnerships to develop alternative energy initiatives as and
       when they become available and we are adequately resourced.
      Business Model – Creating a business model to deliver least-cost electricity to
       customers, recognizing both monetary costs and non- monetary costs such as
       environmental and other social costs.

Our Values

In achieving the Corporation‟s Vision Statement and objectives, we will endeavour to:

      be cost effective in the utilization of all resources, always remembering that we
       are spending the customer‟s money;
      strive to increase shareholder value in the long-term;
      be responsive to our customers and their changing needs;
      act ethically and honestly treating employees, customers and others with fairness,
       dignity and respect;
      commit to the safety of our employees and the public;
      respect and protect the environment in all our activities to ensure a sustainable
       environment for the NTPC; and
      communicate in an open and timely manner.


Shri R.S. Sharma Chairman and Managing Director, NTPC Limited, since May 01,
2008, has rich and varied experience spanning over thirty seven years in the Indian power
industry out of which he has spent 30 years in power projects and stations. A graduate in
Mechanical Engineering, Shri Sharma began his career in 1971 as Engineer in Madhya
Pradesh Electricity Board where he laid the foundations of his exceptional expertise in
the area of Operation & Maintenance of power stations.
He joined NTPC in 1980 and worked in equipment erection and plant maintenance areas
prior to becoming head of various projects. He also headed the Southern Region of the
Company. Later he served as Executive Director (Corporate Planning) and Executive
Director (Commercial) and looked after key areas of Strategic Planning and Commercial
Functions respectively.
Shri Sharma became Director (Commercial) in October, 2004 and took numerous
initiatives to ensure robust commercial success of NTPC. He led NVVN, the trading arm
of NTPC, to achieve a substantial share in the power trading market. As Director
(Commercial), he also led the team of New Business Development in setting up various
joint ventures, carrying out the due process for a power exchange and the Company's
diversification into equipment manufacturing. He guided the efforts for acquisition of
coal mines abroad and led the team in preparing the road-map for nuclear power. Besides
his wide-ranging contribution to the power industry and the Company, Shri Sharma has
demonstrated high commitment to corporate governance, corporate social responsibility
and value based leadership.

Shri Chandan Roy, Director (Operations) is a graduate in Mechanical Engineering. A
power engineer of repute with rich and varied experience of more than 37 years in the
areas of project planning, conceptualisation, design, engineering and Operation &
Maintenance of more than 29000 MW, Shri Roy has held various responsible positions in
India and abroad. Prior to joining the Board of NTPC Limited in January 2004, he has
held various important positions including the Executive Director of a Regional Head
Quarter, Executive Director (Engineering) etc. He has also been the Chairman of
Ratnagiri Gas and Power Private Limited (Part time), a joint venture company of NTPC
Ltd and Gas Authority of India Limited (GAIL) for two (2) years and the chief architect
of revival of the abandoned project. Prior to joining NTPC in 1977, he worked in
Babcock & Wilcox, London. In recognition of his expertise in the area of power plant
design, commissioning and generation he has been awarded “Eminent Engineer Award”
by Institution of Engineers (India) in the year 2006.

Shri R.K. Jain , Director (Technical) since May 5, 2005, has vast experience of over 35
years of Power Project Planning, Conceptualisation, Design/Engineering and Contract &
Materials. He also served as Executive Director (National Capital Region), Executive
Director (Corporate Contract & Materials), and as General Manager (Consultancy &
Joint Ventures). Prior to joining NTPC in 1977, he worked with Central Electricity
Authority. As Director(Technical), he is responsible for Engineering Division, induction
of new technologies like Supercritical etc., development of Energy Technology Centre
for research in Energy related areas, non-conventional energy resources, implementation
of Distributed Generation Schemes and development and implementation of IT initiatives
in NTPC including ERP. He is also responsible for NTPC‟s globalization initiatives in
the areas of setting up power plants abroad, O&M Contracts & offer Engineering
Services for international clients.

Shri A.K. Singhal, Director (Finance) since August 2005, a Chartered Accountant,
comes with rich experience of 29 years of Corporate Finance Management. He is also a
member of All India Management Association (AIMA) and Institute of Internal Auditors
(IIA). Prior to joining NTPC in 2001, he was the Executive Director (Finance) in
National Fertilizers Limited (NFL) as head of Finance & Accounts department. He held
various managerial positions in Krishak Bharati Cooperative Limited (KRIBHCO) and
Engineering Projects of India Limited (EPIL). As Finance Director on the Board of
NTPC, he is responsible for formulating financial strategies and plans to enable the
company in achieving its Vision. He gives directions with respect to the entire gamut of
Financial Management of the organization including timely financial resource
mobilization at minimum possible cost from Domestic & Global sources including equity
issues, optimum utilization of funds, formulation of company‟s annual financial budget
and undertaking budgetary controls. He is also responsible for designing internal control
systems commensurate with the size of the organization and for ensuring compliance of
such systems. Being responsible for compliances of Company Law and other statutory
requirements, he also gives direction to the Corporate Governance framework of the
company. After company became listed he has been acting as one of the vital links
between the shareholders of the company and the rest of the Board. In recognition of his
contribution, he was adjudged as the Best CFO in the Public Sector category by the
Committee for Members in Industry (CMII) of ICAI for the year 2007-08.

Shri R.C. Shrivastav, Director (Human Resources) is a Graduate in Electrical
Engineering. He has a rich and diverse experience in the power sector. He started his
career in power plant operation in captive power plant of Steel Authority of India
Limited. He joined NTPC in 1981 and worked in various capacities in the areas of
construction, commissioning and operation & maintenance of power stations as well as
corporate operation services. He headed a number of power stations of NTPC and was
elevated to the post of Executive Director (Southern Region) in 2002. He later handled
the responsibility as Chief Executive Officer of NTPC Electric Supply Company Limited,
a wholly owned subsidiary Company of NTPC engaged in electricity distribution before
appointment as Director (HR) of NTPC in May 2006. As Director (HR) Shri Shrivastav,
is overall in-charge of Human Resource function for the entire organization. He is also
responsible for Power Management Institute of NTPC and other corporate functions such
as Industrial Safety, Resettlement & Rehabilitation, Corporate Communication and
Corporate Social Responsibility.

Shri K.B. Dubey, Director (Projects) is a graduate in Mechanical Engineering. Shri
Dubey started his professional career with Bharat Heavy Electricals Ltd and subsequently
joined NTPC in 1981. He has worked in NTPC in different capacities and in varied areas.
He has headed various Projects, Region and Corporate Groups in NTPC such as
Faridabad Gas Power Project, Koldam Hydro Power Project, Hydro Region and
Corporate Monitoring Group and has earned laurels in both Professional and
Administrative capacities. He took over as Director (Projects) of NTPC on 12.01.2007.
Shri Dubey is a member of the Panel of Arbitrators of the Singapore International
Arbitration Centre. He is also an Arbitrator of the Scope forum of Conciliation and
Arbitration. He is Member in the governing body of National institute of Rock Mechanics
and also member in governing body of Construction Industry Development Council

Shri P.K. Sengupta is B. Com and FICWA. He has held the position of Director
(Finance) in Eastern Coalfields Limited, Director (Finance) in Coal India Limited prior to
becoming Chairman & Managing Director of Coal India Limited in January 1995. He has

held directorship in Steel Authority of India and Neyveli Lignite Corporation as non-
official part-time Director. He has expertise in the area of Financial Management and
General Administration. He has been on the Board of the Company with effect from
August 26, 2008 as a non-official part - time director.

Shri M.N. Buch is M.A. (History) from Delhi University, M. Phil (Public
Administration) from Indian Institute of Public Administration, Punjab University, PG
Diploma holder in Port Management and Administration from University College,
London and an Indian Administrative Officer of Gujarat Cadre, 1964 batch. He has held
various posts in Gujarat Government. He had held the position of Joint Secretary to the
Government of India in Department of Banking, Ministry of Finance, Additional
Secretary to the Ministry of Labour, GOI, Director- General, Sports Authority of India
prior to becoming Member of Public Enterprises Selection Board, GOI. He has been also
on the Board of various public sector banks. He has wide experience in both
Development and Regulatory Administration at the Central, State and District levels. He
has been on the Board of the Company with effect from August 26, 2008 as a non-official
part - time director.

Shri Shanti Narain is B.Sc (Hons. in Physics) and M.Sc. (Mathematics) from Delhi
University and has pursued Management Development Programme at British Transport
Staff College, UK. He has held various posts in Railways prior to becoming Member
(Traffic), Railway Board. He has key expertise in strategic management of transport
systems with special focus on Railways, involving planning, marketing, customer
relations, monitoring and control of operational and commercial activities and

development of transport infrastructure. He has been on the Board of the Company with
effect from August 26, 2008 as a non-official part - time director.

Shri K. Dharmarajan, a retired IAS offier, has served as faculty and resource person at
the IIFT, NIUA, TERI and University of Pennsylvania (USA). He was the Chairman at
Expert Committee for Property Tax Reforms, Delhi and is well known in the areas of
institutional development, administration, international trade & commerce, energy and
poverty. He has been on the Board of the Company with effect from August 26, 2008 as a
non-official part - time director.

Dr. M. Govinda Rao is Director, National Institute of Public Finance and Policy, New
Delhi. He is also a Member, Economic Advisory Council to the Prime Minister. His past
positions include Director, Institute for Social and Economic Change, Bangalore and
Fellow, Research School of Pacific and Asian Studies, Australian National University,
Canberra, Australia. He has played a number of advisory roles in various Expert
Committees. He has published 12 books and monographs on various aspects of Public
Finance besides technical articles in a number of journals. He has been on the Board of
the Company with effect from August 26, 2008 as a non-official part - time director.

Shri Adesh Jain is a Bachelor of Science in Mathematics and an Electrical Engineer
from the Indian Institute of Science, Bangalore. He has done his MS in Control Systems
at Carleton University, Ottawa. He has over 40 years of experience in project oriented
work beginning with two state-of-the-art projects in early 1970‟s in USA. In 1973, he
returned to India to help the country embark upon major computerization program. He
has also served as the Head of IT and Project Management Services in BHEL. In 1992,
he started the Centre for Excellence in Project Management. He has been conferred with
6 major awards in India, including the “Gem of India” award. He is author of the book
“New Dimensions in Project Management”. He has been on the Board of the Company
with effect from January 30, 2009 as a non-official part - time director.

Shri Santosh Nautiyal is a Post Graduate in Political Science and Public Administration.
He belonged to Indian Administrative Services (Orissa 1968) and retired in July 2006 as
Chairman (in the rank of Secretary to the Govt. of India,) National Highway Authority of
India. He has held various positions like Additional Secretary, Govt of India in
Department of Consumer Affairs, Principal Secretary of Government of Orrisa, Joint
Secretary in Ministry of Steel and Managing Director in Industrial Promotion and
Investment Corporation of Orrisa Ltd. He also served as Chairman of Food Corporation
of India and after retirement was appointed as Chairman of the National Shipping Board
constituted by the Central Government. He has been on the Board of the Company with
effect from January 30, 2009 as a non-official part - time director

Shri Kanwal Nath, is M.Sc. in Physics, and holds PG Diploma in Development Finance
from the University of Birmingham, UK. He has over 37 years of experience in Indian
Audit and Accounts service. He retired as Dy. Comptroller & Auditor General in
February 2007. He has also held position of Joint Secretary & Financial Adviser (JS &
FA) in Ministry of Water Resources and additional charge of JS & FA, Ministry of
Power. He has wide experience in the Audit of Organisations in Power,
Telecommunication and Railway Sector. He has been on the Board of the Company with
effect from January 30, 2009 as a non-official part - time director.

Shri Arun Kumar Sanwalka is M.Sc (Engg) from UK, I. Mech. (E), UK. and AMIE
(India) – Mech. & Prod. He has held various positions in Indian Railways and retired
from the position of General Manager, Northeast Frontier Railway after 38 years of
service. He has wide expertise in the areas of General Management & Administration,
Transport planning, Project management and coordination. He has also handled several
projects for establishing large production, maintenance and repair facilities of Indian
Railways. He also held the position of Executive Director (Motive Power), RDSO for
several years. He has been on the Board of the Company with effect from January 30,
2009 as a non-official part - time director.


National Thermal Power Corporation
Registered Office: NTPC Bhawan, Scope Complex,
Lodhi Road, New Delhi.


NTPC Electric Supply Company Ltd. (NESCL)
The company was formed on August 21, 2002. It is a wholly owned subsidiary company
of NTPC with the objective of making a foray into the business of distribution and supply
of electrical energy, as a sequel to reforms initiated in the power sector.

NTPC Vidyut Vyapar Nigam Ltd. (NVVN)
The company was formed on November 1, 2002, as a wholly owned subsidiary company
of NTPC. The company‟s objective is to undertake sale and purchase of electric power, to
effectively utilise installed capacity and thus enable reduction in the cost of power.

NTPC Hydro Ltd. (NHL)
NTPC Hydro Limited (NHL), a wholly owned subsidiary of NTPC Limited, was set up in
December, 2002 with a view to give exclusive thrust to development of small and
medium sized Hydro Electric Power Projects up to 250 MW capacity. Currently the share
capital of the Company is Rs.500 Crores.

NHL's maiden venture is LATA-TAPOVAN H.E. Power Project 171 MW (3 x 57) in
the State of Uttaranchal. NHL had taken up detailed Survey & Investigation works for
preparation of Detailed Project Report (DPR) for establishing Techno-Economic viability
of the project. The DPR of this project has been completed and approved by NTPC
Board. Subsequently, CEA accorded concurrence Techno-Economic Clearance (TEC) on
February, 2006. The Stage - I Defence Clearance & Ministry of Environment Forestation
Stage - I & II Clearances are also accorded. As per Implementation Agreement executed
between NHL and Government of Uttaranchal (GoUA) in November, 2005, the project
shall be developed as a regional power station with 12% free power to GoUA. The land
acquisition and pre-construction activities have been taken up. The project is scheduled
for commissioning by March, 2012. The estimated cost of this project including IDC is
Rs. 792 Cr. Annual Generation from this project is estimated 869 MU.

NHL's subsequent venture is RAMMAM ST-III H.E. Power Project 120 MW (3 x 40)
in West Bengal. NHL has taken up required Survey, Geological & Geo-technical
investigations for preparation of DPR. The DPR of this project has been approved by the
NTPC Board. CEA has accorded its Techno-Economic Clearance (TEC) in September,
2006. The Stage. I Defence Clearance and Ministry of Environment Forestation Stage - I
& II Clearances have been obtained. The land acquisition and pre-construction activities
for the project have been taken up. The project is scheduled for commissioning by March,
2012. The estimated cost of this project including IDC is Rs. 633.92 Cr. Annual
Generation from the project is estimated 476 MU. As per Implementation Agreement,
85% of the power generated from this project shall be taken by West Bengal State
Electricity Board (WBSEB) and remaining 15% shall rest with NHL.

Pipavav Power Development Co. Ltd. (PPDCL)

A memorandum of understanding was signed between NTPC, Gujarat Power Corporation
Limited (GPCL) and Gujarat Electricity Board (GEB) in 2004 for development of a 1000
MW thermal power project at Pipavav in Gujarat by forming a new joint venture
company between NTPC and GPCL with 50:50 equity participation. Pursuant to the
decision of Gujarat Government, NTPC Ltd. has dissociated itself from this company.
PPDCL is under winding up.

Kanti Bijlee Utpadan Nigam Limited, (formerly known as Vaishali Power Generating
Company Limited)
To take over Muzaffarpur Thermal Power Station (2*110MW), a subsidiary company
named „Vaishali Power Generating Company Limited (VPGCL)‟ was incorporated on
September 6, 2006 with NTPC contributing 51% of equity and balance equity was
contributed by Bihar State Electricity Board. This company was formed to renovate the
existing unit and run the plant. The second unit has been successfully re-synchronised on
October 17, 2007 after 4 years of being idle. Renovation and modernisation of the first
unit is under progress. The company was rechristened as „Kanti Bijlee Utpadan Nigam
Limited‟ on April 10, 2008.

Bharatiya Rail Bijlee Company Limited (BRBCL)

A subsidiary of NTPC under the name of „Bharatiya Rail Bijlee Company Limited‟ was
incorporated on November 22, 2007 with 74:26 equity contribution from NTPC and
Ministry of Railways, Govt. of India respectively for setting up of four units of 250 MW
each of coal based power plant at Nabinagar, Bihar. Investment approval of the project
was accorded in January, 2008.





 Distributed Generation
India‟s ambitious growth plans require inclusion of all sectors, especially the rural sector where two
third of our population lives. Such economic development cannot be achieved without availability of
energy and subsequently efficient energy management which is crucial for rural development. As per
census 2001, about 44% of the rural households do not have access to electricity. Some of the villages
are located in remote & inaccessible areas where it would be either impossible or extremely expensive
to extend the power transmission network.


         Implementation of distributed generation projects using locally available renewable
          resources such as biomass, solar photovoltaic, micro hydel, bio-diesel etc.
         Training & capacity building of local community to enable them to independently
          manage, operate & maintain the plant
         To ensure viability and long term sustainability of DG projects
         Integrated growth & development of rural areas by enhancing employment education,
          income generation & livelihood opportunities
         To ensure implementation of various technologies as demo/pilot project

     Sl. No.              RENEWABLE ENERGY SOURCES                                   CAPACITY
1.             Wind energy Farms                                                650 MW
2.             Small Hydro Project                                              300 MW
3.             Solar PV Power Project                                           5 MW
4.             Solar Thermal                                                    10 MW
5.             Biomass Power Project                                            15 MW
6.             Geothermal Power Project                                         30 MW
               Total                                                            1,010 MW


The Consultancy Wing of NTPC, with an ISO 9001:2000 accreditation, undertakes all the
Consultancy and turnkey project contracts for Domestic and International clients in the
different phases of Power plants With the string of achievements behind it, NTPC has
emerged as the acknowledged leader in engineering, construction, O&M, RLA/R&M and
management of power projects.

Why NTPC as consultant?

As a result of the phenomenal success achieved by NTPC in executing its own power
projects, many utilities from India and abroad started approaching NTPC to gain from the
rich experience gained by NTPC. With this in view NTPC formally established its
Consultancy Wing in 1989.
Since then NTPC Consultancy has secured 435 orders from Domestic & International
NTPC is registered as a consultant with several leading international development and
financial institutions such as The World Bank, The Asian Development Bank, The African
Development Bank and UNDP.
Download Brochure
NTPC's vast pool of technically qualified and managerial manpower is well supported by
excellent infrastructure and knowledge management facilities to deliver the client time
bound, qualitative and cost effective solution meeting the global standards.
At NTPC, we offer consultancy services related to infrastructure sector business such as:

      Fossil fuel based thermal power plants
      Combined cycle power plants
      Cogeneration plants
      Water supply and treatment
      Environment engineering and management
An entire gamut of services is offered in the areas mentioned above. These are:

      Owner's Engineer Services
      Lender's Engineer Services
      Environment Engineering and Management
      Procurement Services

      Project Management
      Quality Assurance and Inspection Services
      Materials Management
      Construction Management, Erection and Commissioning
      Financial Systems and Modeling
      Operation and Maintenance
      Restoration, Efficiency Improvement and Renovation and Modernization
      HRD and Training
      Research and Development
      Information Technology
      Management Consultancy

International Cell

Towards the end of last century, many countries started structural changes in their
infrastructure sectors. Many countries decided to un-bundle their hitherto government
controlled power sector. Further, in order to meet the growing demand for power,
privatization of power projects emerged as the most outstanding choice. These actions of
many progressive governments resulted in a number of opportunities for private players in
power sector. These include development of power projects as Independent Power
Producers (IPP).


                  NTPC Energy Technologies and Research Alliance

NETRA (NTPC Energy Technologies and Research Alliance) shall be the harbinger of
research, technology development and scientific services in the domain of electric power
within NTPC.

Setup of NETRA shall bring synergy between Energy Technologies and R&D
department and compliment each others' efforts and resources in a manner so as to enable
successful and quick maturing of a research project into a deployable technology.
NETRA shall not only provide scientific services to power stations but also resolve the
haunting efficiency, reliability, availability and environment related requirements through

innovation and technology development.

NETRA shall have four distinct „verticals‟ for Research, Technology Development,
Scientific Services and Infrastructure. The „verticals‟ shall be suitably interlinked with
each other in order to enable seamless work flow right from concept to commissioning.

To steer nascent NETRA through a drawn road map, and to reach milestones in given
timelines, a high profile and prestigious group of persons will form a Research Advisory
Committee (RAC) comprising of eminent scientists and engineers from national and
international utilities Research organisations, Academic Institutions, non competing
Industries, in-house, who will not only help in setting up labs, evaluate the researches,
guide & reset the directions etc but will also help in setting up pilot plants to scale them
up to a new technology for „clean‟, „quick‟ and „economic‟ power.
At present the NETRA is inter alia providing following lab facilities to the utilities:
1. Creep and Structure Laboratory              8. Resin Laboratory
2. Fatigue and Fracture Mechanics Lab          9. Oil and Lubricant lab
3. Wear Lab                                    10. TribologyLab
4. Noise and Vibrations Laboratory             11. Electrical and IT Laboratory
5. Coal and Combustion Laboratory              12. Corrosion Laboratory
6. XRD Laboratory                              13. Metallurgy Laboratory
7. NDT Laboratory                              14. Environment lab

Following technology development projects have been undertaken,

1. Robotic Crawler for Boiler Water Wall
                                               7. SO3 based Flue Gas Conditioning
2. Artificial Intelligence Power Plant
                                               8. Urea based Flue Gas Conditioning
Advisory System
3. Multi composition Ammonia Liquor            9. Pressure Swing Adsorption (PSA)
Absorption Engine                              process for CO2 capture
                                               10. Ionic liquid membrane process for CO2
4. Flue Gas Heat Recovery System
5. CFD Modeling of Boiler                      11. Anoxic conversion of CO2 to methane
6. Ammonia based Flue Gas Conditioning         12. Advanced Control Development

Turnaround Capability

NTPC has played an extremely important role in turning around sub-optimally performing stations.
The phenomenal improvement in the performance of Badarpur, Unchahar, Talcher and Tanda by
NTPC make them our big success stories.

Badarpur (705 MW)
The expertise in R&M and performance turnaround was developed and built up by NTPC with the
operational turnaround of Badarpur TPS through scientifically engineered R&M initiatives. The PLF
of the power station improved from 31.94% at the time of the takeover to 86.46% for the year 2007-


Unchahar (420 MW)

The Feroze Gandhi Unchahar Power Station was taken over by NTPC whereby the cash strapped
UPSEB was rescued by the turnaround expertise of NTPC.
The remarkable speed and extent of the turnaround achieved can be seen in the table.

Talcher (460 MW)
An even more challenging turnaround story was being scripted at the OSEB's old power plant at
Talcher. Taken over in June 1995, the table indicates the dramatic gains in the performance of the
power plant as a result of NTPC‟s expertise.

Tanda (440 MW)
Tanda Thermal Power Station was taken over by NTPC on the 15 January 2000.The PLF of the
power station improved from 21.59% at the time of the takeover to 91.66% for the year 2007-08.

While NTPC bettered PPA commitments, from the viewpoint of capital requirements, turning
around such old units is a low cost, high and quick return option. This unprecedented success
helped the concerned SEBs and the entire nation in terms of economy and power availability


     Top NTPC Competitors are:




GVK is a diversified business entity with a predominant focus on Infrastructure and Urban
Infrastructure projects. It also has a significant presence in the Hospitality, Services and
Manufacturing sector.

Among the pioneers to envision the India Growth saga, GVK realized the potential needs of a
rapidly developing economy, particularly in the area of infrastructure development. One of the
challenges facing the fast paced economic development in India is to create world-class
infrastructure which will further boost the growth and provide people with a better quality of life.

GVK has responded to the challenge by taking a lead in developing projects of national
importance in diverse areas ranging from power, airports, and roads. It also consolidated its
position of strength in hospitality and manufacturing.

Having an asset base of close to Rs. 50 Billion (1,220 Million USD), GVK boasts of prestigious
projects on hand worth of about Rs 150 Billion (3,658 Million USD). Backed by the strength of
7,000 professionals with the required capabilities and technical acumen, GVK is surging ahead,
building on its achievements and exploring newer avenues for growth

GVK Power and Infrastructure Limited (GVKPIL) has initiated power projects that will cross
over 2000 MW capacity once operational. While Jegurupadu Combined Cycle Power Plant is
operational, several ambitious power projects are under development.

GVK is developing power projects that are based on coal, gas and hydel resources. The projects
are being developed across several States in the country including Andhra Pradesh, Punjab and

GVK is developing a 600 MW Coal Based thermal Power Plant at Goindwal Sahib, Punjab.
The project was allocated by the Government of Punjab to GVK subsequent to an international
competitive bidding process.

A Power Purchase Agreement (PPA) between GVK and the Punjab Electricity Board was
executed in the year 2000 and a Memorandum of Understanding (MoU) was signed in early 2006.

The project comprises of two steam turbines of 300 MW each. The coal for the project is sourced
from GVK's captive mines at Tokisud North sub-block in Jharkhand

   Registered & Corporate Office            156-159 'Paigah House' Sardar Patel Road
                                            Secunderabad , Andhra Pradesh - India
                                            PinCode :500003
                                            Phone :27902663 27902664,,,
                                            Fax :27902665,


 Quarterly Trends
Year Ends (Months)                 NTPC Ltd.             GVK Power & Infrastructure Ltd.
                          200903(3)       200812(3)        200903(3)            200812(3)
 OprtIncome                    12214.42    11863.08                  6.57                 6.49
 OtherRecurrInc                  267.09        265.26                3.75                 1.76
 Operating profit                2988.5        3794.6                0.93                 2.69
 GrossProfit                    2688.52      3552.29                 4.46                 4.45
 ReportedPAT                    2113.35      2250.91                 3.94                   3.3
 EquityCapital                  8245.46      8245.46              140.58                140.58
 OPM                              24.46         31.98              14.15                 41.44
 GPM                              21.54         29.28              43.21                 53.93
 NPM                              16.93         18.55              38.17                    40

Annual Trends
                               NTPC Ltd.                GVK Power & Infrastructure Ltd.
Year End (Months)        200803(12)     200703(12)         200803(12)       200703(12)
OperatingIncome           37,091.00       32,631.70               26.97            11.15
OperatingProfit           11,571.30       10,159.60               13.80             4.03
OtherRecurrInc             2,957.60        2,760.90               91.91            31.70
AdjustedPBT               10,360.90        8,779.50               99.20            16.81
ReportedPAT                7,414.80        6,864.70               90.41            14.85
EquityDividend                35.00             32.00              0.00            25.00
EquityCapital              8,245.50        8,245.50              140.58            23.64
PreferenceCapital              0.00              0.00              0.00             0.00
ResAndSurplus             44,393.10       40,351.30            1,577.64           327.35
LoanFunds                 28,564.00       25,141.10                0.00           350.44
NetBlock                  26,093.70       25,525.00                0.32             0.01
 Investments              15,267.20       16,094.30            1,169.99           705.33
TotCurrentAssets           30,527.80       25,858.80              549.98           100.15

                             NTPC Ltd.                  GVK Power & Infrastructure Ltd.
Year End (Months)       200803(12)     200703(12)          200803(12)       200703(12)
OPM                          31.19             31.13              51.15            36.17
NPM                          18.51             19.39              76.05            34.64
Reported EPS                  8.99              8.33               0.64             6.28
Return on Networth           14.08             14.12               5.26             4.22
Debt/ Equity                  0.54              0.51                    0           0.99
Financial charges
                              7.17              6.29              16.28             1.89
Coverage Ratio
Current Ratio                 2.32              2.42             266.99             2.97
Dividend per share             3.5               3.2                    0            2.5


Mr. Anil Dhirubhai Ambani
Mr. Ambani is the non executive Chairman of the Company. He holds a Bachelor's
Degree in Science from the University of Bombay and a Master's Degree in Business
Administration from The Wharton School, University of Pennsylvania, USA. Mr.
Ambani is also the Chairman of Reliance Communications Limited, Reliance Capital
Limited, Reliance Energy Limited and Reliance Natural Resources Limited. Till recently,
Mr. Ambani also held the post of Vice Chairman and Managing Director in Reliance
Industries Limited. Mr. Ambani joined Reliance Industries Limited in 1983 as Co-Chief
Executive Officer. He is a member of the Wharton Board of Overseers, The Wharton
School, USA, the Central Advisory Committee, Central Electricity Regulatory
Commission, and the Board of Governors of the Indian Institute of Management (IIM),
Ahmedabad and the Indian Institute of technology, Kanpur (IIT), and Executive Board,
Indian School of Business (ISB), Hyderabad.

Mr. Ambani has received numerous awards and recognitions, including:

      Voted the 'Businessman of the Year' in a poll conducted by the Times of India -
       TNS, December 2006.
      Voted the 'Best Role Model' among business leaders in the biannual Mood of the
       Nation poll conducted by India Today magazine, August 2006.
      Conferred 'the CEO of the Year 2004' in the Platts Global Energy Awards.
      Rated as one of 'India's Most Admired CEOs' for the sixth consecutive year in the
       Business Barons - TNS Mode opinion poll, 2004.

Shri S. L. Rao

Mr. Rao is currently Chairman, Board of Governors of the Institute for Social and
Economic Change, Bangalore; Distinguished Visiting Fellow at The Energy and
Resources Institute (TERI); a widely read newspaper columnist, writer and speaker on
management, consumer markets, the economy and energy issues. He is an economist by
training and a professional manager with 29 years of experience in companies including
in top management positions in marketing and general management, and a further 5 years
in management consultancy. He taught marketing in management schools in India as
visiting faculty. He was a Visiting Fellow at the Indian Ocean Centre, Australia (1996-
98). In 1990, he was appointed Director General of the National Council of Applied
Economic Research (NCAER, which during his tenure, was known for its data on Indian
markets, human development indicators, social infrastructure and economic forecasting).
He was the first Chairman of the Central Electricity Regulatory Commission (CERC) in
1998. He was formerly the President of the Madras Management Association (1983-84)
and All India Management Association (1985-86), (1985-86), a founder and former Vice
President of the People's Union for Civil Liberties in Tamil Nadu (1981-84). He was
Founder Chairman of the Forum of Indian Regulators.

Shri J. L. Bajaj

Mr. Bajaj is former Chairman of Uttar Pradesh Electricity Regulatory Commission
(UPERC). He retired from the Indian Administrative Service as Chairman of
Administrative Reforms and Decentralisation Commission, Government of Uttar
Pradesh. He served in Government of India as Adviser (Industry) Planning Commission,
Additional Secretary in the Department of Economic Affairs and Joint Secretary, Plan
Finance, Ministry of Finance. He also held the positions of Secretary (Planning) and
Secretary (Finance) in the Government of Uttar Pradesh.

Dr. V. K. Chaturvedi

Dr. Chaturvedi is a former Chairman & Managing Director of Nuclear Power
Corporation of India Limited. He has also been a Member of the Atomic Energy
Commission, Government of India and Chairman of World Association of Nuclear
Operators (WANO), Tokyo Centre and also a Governor in the International WANO
Board, London for 2 years. Dr. Chaturvedi is a gold medalist in mechanical engineering
(1965 batch) from Vikram University and later he did his post-graduation in nuclear
engineering from BARC training school, Mumbai. He has over 40 years of experience in
relation to design, construction, commissioning and operation of nuclear power plants.
He was conferred the 'Padma Shri' in the year 2001, one of India's highest civilian
awards. He is also a recipient of number of other prizes and awards.

Mr. K.H. Mankad

Mr. K.H. Mankad, aged 65 years, and Indian national, is the Whole-time Director and
CEO of the Company. Mr.Mankad is a Bachelor of Commerce and Laws. He is an
Associate Member of the Institute of Chartered Accountants of India, an Associate
Member of the Institute of Company Secretaries of India and an Associate Member of the
Institute of Cost and Works Accountants of India. He has over 32 years of experience in
corporate finance, taxation, accounts, management and laws. He has been working with
REL since 1995 and was its Director (Finance).

Dr. Yogendra Narain

Dr. Narain is a former Secretary-General, Rajya Sabha - the Upper House of the
Parliament of India. Dr. Yogendra Narain retired from the Indian Administrative Services
after serving for over 42 years. He has worked in various capacities in the administration
in the State of Uttar Pradesh and the Government of India. He served as the Principal
Secretary to the Governor, Uttar Pradesh; as Secretary, Ministry of Surface Transport,
Government of India; Chief Secretary, Government of Uttar Pradesh and Defence
Secretary to the Government of India. He is also the founder-Chairman of the Greater
NOIDA Industrial Development Authority and the founder-Chairman of the National
Highway Authority of India. Dr. Narain holds degrees. B.Sc., M.A. (Political Science),
Diploma in Development Economics, M. Phil and Ph.D.

Reliance Power Limited is part of the Reliance Anil Dhirubhai Ambani Group and is
established to develop, construct and operate power projects domestically and
internationally. The Company on its own and through subsidiaries is currently developing
13 medium and large sized power projects with a combined planned installed capacity of
28,200 MW, one of the largest portfolios of power generation assets under development
in India. Our 13 power projects are planned to be diverse in geographic location, fuel
type, fuel source and off-take, and each project is planned to be strategically located near
an available fuel supply or load center. The identified project sites are located in western
India (12,220 MW), northern India (9,080 MW) and northeastern India (2,900 MW) and
southern India (4,000 MW). They include six coal-fired projects (14,620 MW) to be
fueled by reserves from captive mines and supplies from India and abroad, two gas-fired
projects (10,280 MW) to be fueled primarily by reserves from the Krishna Godavari
Basin (the "KG Basin") off the east coast of India, and four hydroelectric projects (3,300
MW), three of them in Arunachal Pradesh and one in Uttarakhand. Reliance Power has
acquired the two ultra mega power projects of 4,000 MW each at Sasan in Madhya
Pradesh and Krishnapatnam in Andhra Pradesh. The 7,480 MW project to be located at
Dadri in Uttar Pradesh is expected to be the largest gas-fired power project at a single
location in the world. We intend to sell the power generated by these projects under a
combination of long-term and short-term PPAs to state-owned and private distribution
companies and industrial consumers.

Contact InformationReliance Power Limited
H Block, First Floor
Dhirubhai Ambani Knowledge City
Navi Mumbai 400 710
Maharashtra, India
Telephone: (91 22) 3038 6010
Facsimile : (91 22) 3037 6633


Quarterly Trends
Year Ends (Months)            NTPC Ltd.                    Reliance Power Ltd.
                        200903(3)       200812(3)        200903(3)       200812(3)
OprtIncome                12214.42          11863.08                 0                0
OtherRecurrInc              267.09             265.26        65.406          127.562
Operating profit            2988.5             3794.6        -32.375         -13.076
GrossProfit                2688.52            3552.29        34.034          113.652
ReportedPAT                2113.35            2250.91        34.918           107.07
EquityCapital              8245.46            8245.46        2396.8           2396.8
OPM                          24.46              31.98
GPM                          21.54              29.28          52.03             89.09
NPM                          16.93              18.55          53.38             83.93

Annual Trends
                              NTPC Ltd.                    Reliance Power Ltd.
Year End (Months)       200803(12)      200703(12)       200803(12)      200703(12)
OperatingIncome           37,091.00         32,631.70        112.79              2.25
OperatingProfit           11,571.30         10,159.60         87.36              1.37
OtherRecurrInc             2,957.60          2,760.90           0.04             0.00
AdjustedPBT               10,360.90          8,779.50         81.67              0.55
ReportedPAT                7,414.80          6,864.70         94.67              0.16
EquityDividend                35.00            32.00            0.00             0.00
EquityCapital              8,245.50          8,245.50       2,259.95         200.04
PreferenceCapital              0.00              0.00           0.00             0.00
ResAndSurplus             44,393.10         40,351.30      11,282.72             0.02
LoanFunds                 28,564.00         25,141.10           0.00             0.00
NetBlock                  26,093.70         25,525.00         66.35           66.27
 Investments              15,267.20         16,094.30       8,489.75          41.28
TotCurrentAssets           30,527.80         25,858.80       5,350.09          43.71


                           NTPC Ltd.               Reliance Power Ltd.

Year End (Months)    200803(12)    200703(12)    200803(12)       200703(12)

OPM                        31.19         31.13         77.44            60.98

NPM                        18.51         19.39          83.9             7.19

Reported EPS                8.99          8.33          0.41             0.01

Return on Networth         14.08         14.12          0.69             0.08

Debt/ Equity                0.54          0.51                0            0

Financial charges
                            7.17          6.29         15.27             1.67
Coverage Ratio

Current Ratio               2.32          2.42          12.6             9.16

Dividend per share           3.5           3.2                0            0

Company                  Sales   Current    Change      P/E Ratio        Market     52-Week
                      (Rs.Cr.)     Price       (%)                  Cap.(Rs.Cr.)   High/Low

DPSC Ltd.              319.90     397.45        5.00        25.41         168.28    605/175

Suryachakra Power      106.80      14.14        4.97        74.81         108.36       25/8
Corporation Ltd.

Indowind Energy         25.59      33.80        2.11        22.98         165.47      71/16

Entegra Ltd.           193.50      19.25        -0.77       93.00         196.35       29/8

Tata Power            5909.60    1066.45        -0.85       27.15      23613.81    1417/530
Company Ltd.

Reliance              6331.50    1121.90        -1.07       24.88      26537.42    1297/353
Infrastructure Ltd.

CESC Ltd.             2809.74     348.85        -1.74       10.63       4358.39     510/165

Jaiprakash Hydro-      307.63      63.10        -2.01       21.69       3098.21       68/22
Power Ltd.

Torrent Power Ltd.    3663.52     137.75        -2.27       16.07       6507.98      150/50

Neyveli Lignite       2981.65     131.05        -2.63       19.96      21986.38      151/44
Corporation Ltd.

BF Utilities Ltd.       19.45     695.10        -4.14      566.04       2618.28    2668/269

GVK Power &             26.97      38.70        -4.44      259.21       5440.64       52/10
Infrastructure Ltd.

Energy Development      65.74      65.40        -4.94       11.01         179.85     165/31
Company Ltd.

KSK Energy              63.49     197.90        -5.33       66.12       6849.41     245/106
Ventures Ltd.

Reliance Power Ltd.    112.79     158.80        -6.06      152.99      38061.51      310/81


     CHAPTER – 3



      Business Ethics
      Customer Focus
      Organisational & Professional Pride
      Mutual Respect & Trust
      Innovation & Speed
      Total Quality for Excellence

The key challenges in the context of our values are actualisation and relevance. To
actualise our core values and ensure that they remain relevant, we have taken various
steps, namely, creating a weightage for values in our Performance Management Systems;
Conduct training programmes on values and including sessions on values in our key
programmes; Rewarding value based behaviour and creation of Value Actualisation Task
force. A Vision & Values Revisit Workshop by our top management is a major
component of our core value actualisation.

A culture of celebrating achievements and a strong focus on performance are a way of
life in NTPC. Performance and achievements are an outcome of constant learning and its
application; Performance management; Rewards and recognitions; Provision of
opportunities to create and compete; Seeking feedback from employees and genuine
interest and concern for employees.

NTPC holds pride in its systems for providing a good quality of work-life to its
employees. In addition to providing beautiful and safe work places, NTPC encourages a
culture of mutual respect and trust amongst peers, superiors and subordinates.

Away from hectic city life, NTPC townships provide an environment of serenity, natural
beauty and close community living. Numerous welfare and recreation facilities including
schools, hospitals and club are provided at township to enhance quality of life and well
being of employees and their families. An entire range of employee benefits ranging from
child care leave to post retirement medical benefits are extended to employees to meet
any exigency that may arise in a person's life.

NTPC has, from its inception created a culture of rewards and recognitions through
celebration of various achievements and events and recognising the contributions of
employees/teams behind such success. There are reward schemes for individual and
teams excelling in their work right from the stage of project construction to the running
of the power station, as well as, awards for special events/ competitions where employees
can demonstrate their competence and skills. NTPC also recognises the contribution of
employees‟ families through involving them in various events and competitions.

BALANCE SHEET                                                                    ( Crs)
                                           Mar ' 08    Mar ' 07    Mar ' 06    Mar ' 05    Mar ' 04
Owner's Fund
Equity Share Capital                       8,245.50    8,245.50    8,245.50    8,245.50    7,812.50
Share Application Money                        0.00        0.00        0.00        0.00        0.00
Preference Share Capital                       0.00        0.00        0.00        0.00        0.00
Reserves & Surplus                        44,393.10   40,351.30   36,713.20   33,530.80   28,116.00
Loan Funds
Secured Loans                              8,688.10    7,479.60    6,173.50    4,778.10    4,743.50
Unsecured Loans                           19,875.90   17,661.50   14,464.60   12,647.10   10,868.40

Total                                     81,202.60   73,737.90   65,596.80   59,201.50   51,540.40

Fixed Assets
Gross Block                               53,368.00   50,604.20   45,917.60   42,996.10   39,933.70
Less : Revaluation Reserve                     0.00        0.00        0.00        0.00        0.00
Less : Accumulated Depreciation           27,274.30   25,079.20   22,950.10   20,791.40   18,773.60
Net Block                                 26,093.70   25,525.00   22,967.50   22,204.70   21,160.10
Capital Work-in-progress                  22,478.30   16,962.30   13,756.00   10,038.60    7,589.70

Investments                               15,267.20   16,094.30   19,289.10   20,797.70   17,338.00

Net Current Assets
Current Assets, Loans & Advances          30,527.80   25,858.80   18,234.80   14,721.80   14,642.40
Less : Current Liabilities & Provisions   13,164.40   10,702.50    8,650.60    8,561.30    9,189.80
Total Net Current Assets                  17,363.40   15,156.30    9,584.20    6,160.50    5,452.60
Miscellaneous expenses not written             0.00        0.00        0.00        0.00        0.00

Total                                     81,202.60   73,737.90   65,596.80   59,201.50   51,540.40

INCOME STATEMENT                                                        (Rs. In Crs)

                                Mar ' 08    Mar ' 07    Mar ' 06    Mar ' 05    Mar ' 04
Income :
Operating Income               37,091.00   32,631.70   26,142.90   22,565.00   18,868.40

Material Consumed                  26.80       23.70       25.00       17.90       15.10
Manufacturing Expenses         23,080.70   20,790.50   17,202.20   14,390.80   12,826.50
Personnel Expenses              2,229.30    1,362.60    1,137.50      997.10      961.00
Selling Expenses                   45.00       57.70       40.40       46.40       43.20
Adminstrative Expenses            682.60      656.00      569.60     -101.30       77.40
Expenses Capitalised             -544.70     -418.40     -256.40      -74.80     -256.20

Cost Of Sales                  25,519.70   22,472.10   18,718.30   15,276.10   13,667.00

Operating Profit               11,571.30   10,159.60    7,424.60    7,288.90    5,201.40

Other Recurring Income          2,957.60    2,760.90    2,669.40    2,459.70    6,132.80

Adjusted PBDIT                 14,528.90   12,920.50   10,094.00    9,748.60   11,334.20

Financial Expenses              2,026.40    2,055.70    2,004.60    1,701.60    3,372.70
Depreciation                    2,138.50    2,075.40    2,047.70    1,958.40    2,023.20
Other Write offs                    3.10        9.90        1.30        0.40        9.50

Adjusted PBT                   10,360.90    8,779.50    6,040.40    6,088.20    5,928.80

Tax Charges                     2,994.20    2,163.70    1,082.40     834.80     1,658.30

Adjusted PAT                    7,366.70    6,615.80    4,958.00    5,253.40    4,270.50
Non Recurring Items               162.10      114.70      228.50      -21.10      -23.20
Other Non Cash adjustments       -114.00      134.20      633.70      574.70    1,013.50

Reported Net Profit             7,414.80    6,864.70    5,820.20    5,807.00    5,260.80

Earnigs Before Appropriation    7,504.70    6,939.90    5,901.40    5,863.60    5,328.90

Equity Dividend                 2,885.90    2,638.50    2,308.70    1,979.00    1,082.30
Preference Dividend                 0.00        0.00        0.00        0.00        0.00
Dividend Tax                      490.50      389.60      323.80      268.00      138.70
Retained Earnings               4,128.30    3,911.80    3,268.90    3,616.60    4,107.90

PROFITABILITY RATIOS                   2008        2007      2006      2005      2004

Operating Margin (%)                       31.19     31.13     28.40     32.30     27.56
Gross Profit Margin (%)                    25.43     24.77     20.56     23.62     16.84
Net Profit Margin (%)                      18.51     19.39     20.20     23.20     21.04
Adjusted Cash Margin (%)                   23.74     24.58     24.31     28.82     25.21
Adjusted Return On Net Worth (%)           13.99     13.61     11.02     12.57     11.88
Reported Return On Net Worth (%)           14.08     14.12     12.94     13.90     14.64
Return On long Term Funds (%)              15.25     14.69     12.26     13.15     18.04


Long Term Debt / Equity                     0.54      0.51      0.45      0.41      0.43
Total Debt/Equity                           0.54      0.51      0.45      0.41      0.43
Owners fund as % of total Source           64.82     65.90     68.53     70.56     69.70
Fixed Assets Turnover Ratio                 0.69      0.64      0.56      0.52      0.47


Current Ratio                               2.32      2.42      2.11      1.72      1.59
Current Ratio (Inc. ST Loans)               2.32      2.42      2.11      1.72      1.59
Quick Ratio                                 2.12      2.18      1.84      1.44      1.30
Inventory Turnover Ratio                   33.59     30.50     25.14     43.42     38.27


Dividend payout Ratio (Net Profit)         45.53     44.11     45.23     38.69     23.20
Dividend payout Ratio (Cash Profit)        35.33     33.83     33.45     28.93     16.74
Earning Retention Ratio                    54.17     54.23     46.91     57.23     71.41
Cash Earnings Retention Ratio              64.49     65.20     62.44     68.85     80.63


Adjusted Cash Flow Time Total Debt          3.00      2.89      2.95      2.42      2.48
Financial Charges Coverage Ratio            7.17      6.29      5.04      5.73      3.36
Fin. Charges Cov.Ratio (Post Tax)           5.72      5.35      4.93      5.56      3.16

Shareholding as on :        31/03/2009                   31/12/2008               30/09/2008

        Face Value            10.00                        10.00                    10.00
                         No. Of         %             No. Of         %         No. Of         %
                         Shares       Holding         Shares       Holding     Shares       Holding
                                  PROMOTER'S HOLDING
Indian Promoters       7379634400      89.50     7379634400         89.50    7379634400      89.50

Sub Total              7379634400      89.50     7379634400         89.50    7379634400      89.50

                            NON PROMOTER'S HOLDING

                                    Institutional Investors
Mutual Funds and
                        50231251         0.61         45175172        0.55    42252087         0.51
Banks Fin. Inst. and
                       231213797         2.80        201317072        2.44   177582993         2.15
FII's                  297078917         3.60        335492210        4.07   350162476         4.25

Sub Total              578523965         7.02        581984454        7.06   569997556         6.91

                                       Other Investors
Private Corporate
                        99788139         1.21         89458908        1.08    85369233         1.04
                          4539875        0.06          4858494        0.06      5039620        0.06
Others                    3239560        0.04          1783049        0.02      4222442        0.05

Sub Total              107567574         1.30         96100451        1.17    94631295         1.15

General Public         179738461         2.18        187745095        2.28   201201149         2.44

GRAND TOTAL            8245464400     100.00     8245464400        100.00    8245464400     100.00



   Human Resources

'People before PLF (Plant Load Factor)' is the guiding philosophy behind the entire gamut of HR
policies at NTPC. We are strongly committed to the development and growth of all our
employees as individuals and not just as employees. We currently employ approximately 24500
people at NTPC.
Competence building, Commitment building, Culture building and Systems building are the four
building blocks on which our HR systems are based.

Our HR Vision

"To enable our people to be a family of committed world class professionals."


We believe in the philosophy of 'Grow your own timber'. Our 'Executive Trainee' scheme was
introduced in 1977 with the objective of raising a cadre of home grown professionals. First

Division Graduate Engineers/ Post graduates are hired through nation-wide open competitive
examinations and campus recruitments.

Career Advancement & Opportunities

We have a well established talent management system in place, to ensure that we deliver on our
promise of meaningful growth and relevant challenges for our employees. Our talent
management system comprises PERFORMANCE MANAGEMENT, CAREER PATHS and

Rewards & Recognitions

We have, from inception, created a culture of rewards and recognitions through celebration of
various achievements and events and recognising the contributions behind such success.

Innovate, Create, Compete

We have introduced numerous initiatives which seek to enhance the creativity, innovation,
functional aptitude and teamwork of our employees. These initiatives include National Open
Competition for Executive Talent (NOCET), Professional Circles, Quality Circles, Business
Minds and Medha Pratiyogita (a quiz for our employees). A management journal called
“Horizon” is published quarterly to enable the employees to share their ideas and experiences
across the organisation.

Quality of Work-Life

NTPC is proud of its systems for providing a good quality of work-life for its employees. In
addition to providing beautiful and safe work places, NTPC encourages a culture of mutual
respect and trust amongst peers, superiors and subordinates.
Away from hectic city life, NTPC townships provide an environment of serenity, natural beauty
and close community living. Numerous welfare and recreation facilities including schools,
hospitals and clubs are provided at the townships to enhance quality of life & the well being of
employees and their families. An entire range of benefits, from child care leave to post
retirement medical benefits are extended to employees to meet any exigency that may arise in a
person's life.

Knowledge Management in NTPC

To meet our ultimate objective of becoming a learning organisation, an integrated Knowledge
Management System has been developed, which facilitates tacit knowledge in the form of
learning and experiences of employees to be captured and summarized for future reference.

Training & Development

NTPC subscribes to the belief that efficiency, effectiveness and success of the organisation,
depends largely on the skills, abilities and commitment of the employees who constitute the
most important asset of the organisation.
Our Training Policy envisages a minimum of 7 man days of training per employee per year. We
have developed our own comprehensive training infrastructure.

Education Up-gradation Schemes

To meet the academic aspirations of employees and match them with the needs of the
organisation, NTPC has tie-ups with institutes of repute like MDI, Gurgaon; IIT Delhi; BITS
Pilani, etc. NTPC sponsors fixed size batches of employees who are inducted into these courses
based on their performance rating in the company and their performance in the entrance exam
conducted by the respective institute. Unlike other study leave and sabbaticals, employees
undergoing these courses do not forego their salary or growth during the duration of the course.

Seeking Feedback

We actively seek and encourage employee feedback to ensure that our HR interventions and

practices remain relevant and meaningful. We regularly conduct Employee Satisfaction and
Organisational Climate Surveys.


We derive immense satisfaction from the awards we receive and the resulting recognition they
bestow. The awards are key indicators and milestones on our HR journey, and reinforce our HR
philosophy and practices. NTPC has been awarded No.1, Best Workplace in India among large
organisations for the year 2008, by the Great Places to Work Institute, India Chapter in
collaboration with The Economic Times.

   Enterprise Excellence Award 2007,
  Indian Institution of Industrial Engineering

          This Award was given on the 16th of May at the Marriott Resort, Goa by Mr. Pratap
          Singh Rane, Speaker, Goa Assembly. The award was received by Mr. Swatantra Kumar,
          ED (HR).
          Enterprises Excellence Award was awarded to NTPC for its financial and operational
          strength assessed under 5 perspectives - Financial Strength, Achievements, Internal
          Processes, Innovation & Learning and External Customer Orientation.

Golden Peacock Award for Occupational Health & Safety -2008‟
Institute of Directors

   Conferred on 31st May 2008 at SM Convention Centre, Palampur NTPC Ltd. Corporate
   Health and Safety, Noida has been selected as the winner. The awards were evaluated by
   a jury headed by Justice P.N. Bhagwati, Former Chief Justice of India & member, UN
   Human Rights Commission

ANNXURE                 PAGE NO.

GROWTH CHART              8
CAPACITY CHART            9
OWNERSHIP TYPE            19
COMPARISON TABLE          45 & 50
BALANCE SHEET             57
RATIOS                    59






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