Power Grid Corporation of India Ltd
Directors Reports
To,
Dear Shareholders,
The Board of Directors have the pleasure of presenting the Thirtieth
Annual Report on performance of the Company together with the Audited Financial Statements
for the financial year ended 31st March 2019.
Keeping in line with the past trend, Financial Year (FY) 18-19 has
proved to be yet another year of excellence and achievements.
In FY 2018-19, Transmission assets consisting of 8,468 circuit km
(ckm.) of Extra High Voltage (EHV) transmission lines, 40,119 Mega Volt Ampere (MVA)
transformation capacity and 10 new substations have been added. This includes 3,543 ckm.,
6000 MVA transformation capacity and 2 substations added during the year by the Company's
wholly owned subsidiaries. At the end of 31st March 2019, the total
transmission assets of POWERGRID and its subsidiaries stood at 1,58,298 circuit km of
transmission lines, 245 substations and 3,71,912 MVA of transformation capacity.
The major milestones achieved during FY 2018-19 are as below:
• Asset Capitalization of 727,325 crore including 76,633 crore
through subsidiaries and Foreign Exchange Rate Variation (FERV) of 71,456 crore.
• Capital Investment of 725,807 crore including 74,008 crore in
subsidiaries against the target of 7 25,000 crore.
• Transmission System Availability was 99.71% with number of
trippings per line contained at 0.46.
• Total Income of 735,618.07 crore and Profit After Tax (PAT) of
79,938.55 crore on standalone basis and total Income of 735,661.32 crore and PAT of
710,033.52 crore on consolidated basis.
• Interim Dividend of 75.83 per share (Face Value 710/- each) paid
and in addition, recommendation made for 72.50 per share as final dividend for the FY
2018-19, subject to approval of shareholders.
• Inter-regional power transfer capacity of 8,400 MW added by the
Company during the year. The cumulative inter-regional power transfer capacity added by
the Company stood at 84,090 MW at the end of 31st March 2019.
• About 12,950 km of Optical Ground Wire (OPGW) network added by
the Company and its subsidiaries to support voice and data communication with Regional
Load Despatch Centres (RLDCs) / State Load Despatch Centres (SLDCs) for effective grid
management.
• Telecom revenue rose to 7663.25 crore in the financial year
ended on 31st March 2019.
• Consultancy revenue in the financial year ended on 31st
March 2019 was 7610.93 crore.
• 220 kV Srinagar Leh Transmission System commissioned, thereby
connecting strategically important Ladakh region with the National Grid.
• Total Income of subsidiaries crossed 71,000 crore mark at 71,056
crore and Profit After Tax stood at 7193 crore.
• POWERGRID acquired its first Intra-State Transmission Project
through Tariff Based Competitive Bidding (TBCB) for evacuation of power from 2x600 MW
Jawaharpur Thermal Power Plant and associated transmission system.
• Four TBCB subsidiaries viz. POWERGRID Parli Transmission
Limited, POWERGRID Warora Transmission Limited, POWERGRID Jabalpur Transmission Limited
and POWERGRID NM Transmission Limited became fully operational.
1.0 FINANCIAL PERFORMANCE
The Company maintained its sound Financial Performance in FY 2018-19.
The Financial Performance during FY 2018-19 as compared to the previous year 2017-18 on
standalone basis is summarized below:
(All Figures except per share data is in units as indicated)
| Description |
2018-19 |
2017-18 |
Y-o-Y
Growth |
| INR (Cr.) |
US $ (M) |
INR (Cr.) |
US $ (M) |
| Revenue |
|
|
|
|
|
| Transmission Charges |
32,844.94 |
4,707.60 |
28,495.82 |
4,084.25 |
15.26% |
| Consultancy-Sale of Services |
610.93 |
87.56 |
662.18 |
94.91 |
-7.74% |
| Telecom |
663.25 |
95.06 |
606.59 |
86.94 |
9.34% |
| Other Income |
1,498.95 |
214.84 |
1,001.73 |
143.58 |
49.64 % |
| Total Income |
35,618.07 |
5,105.06 |
30,766.32 |
4,409.68 |
15.77 % |
| Profit After Tax (PAT) |
9,938.55 |
1,424.47 |
8,244.65 |
1,181.69 |
20.55 % |
| Earnings per Share |
Rs 19.00 |
US$ 0.27 |
Rs 15.76 |
US$ 0.23 |
20.56% |
| Book Value per Share (Rs ) |
Rs 112.81 |
US$ 1.62 |
Rs 104.01 |
US$ 1.49 |
8.46% |
| Gross Fixed Assets |
1,97,792.69 |
28,349.25 |
1,77,100.25 |
25,383.44 |
11.68% |
| Long Term Borrowings* |
1,41,786.36 |
20,321.97 |
1,30,212.96 |
18,663.17 |
8.89% |
| Net Worth |
59,017.14 |
8,458.81 |
54,414.96 |
7,799.19 |
8.46% |
| Debt Equity Ratio |
71:29 |
71:29 |
- |
|
|
| Return on Net Worth |
16.84% |
15.15% |
- |
|
|
* Including current maturities of Long Term Borrowings. Convenience
conversion at 1 US $ = 69.77 INR as on 31.03.2019.
1.1 DIVIDEND PAYOUT
For FY 2018-19, the Company has proposed a final dividend of Rs 2.50
per share in addition to Rs 5.83 per share of interim dividend paid in February, 2019
taking total dividend for the financial year 2018-19 to Rs 8.33 per share. The total
dividend payout for the year amounts to Rs 4,357.91 crore (including an interim dividend
of Rs 3,050.02 crore). The final dividend shall be paid after your approval at the Annual
General Meeting.
1.2 TRANSFER TO RESERVES
For the FY 2018-19, appropriation of profit has been made as follows:
a. General Reserve: Rs 4,250 crore
b. Bonds Redemption Reserve: Rs 2,029.20 crore
c. Self Insurance Reserve: Rs 249.07 crore
2.0 MoU PERFORMANCE
The Company was rated 'Excellent' for financial year 2017-18 for its
performance against MoU with Ministry of Power, thereby continuing with the trend of
consistently achieving 'Excellent' rating since signing of its first MoU, for the year
1993-94.
3.0 OPERATIONAL PERFORMANCE
3.1 Asset Management
As on 31st March 2019, the transmission assets owned and
operated by the Company (consolidated) consist of 1,235 lines and 245 nos. EHV substations
including 15 nos. High Voltage Direct Current (HVDC) substations upto + 800 kV level, 726
nos. transformers, 11 nos. STATCOMs, 5 nos. Static Var Compensators (SVC) besides Series
Reactors and Thyristor Controlled Series Compensators (TCSC) /Fixed Series Compensators
(FSC) at various places.
Reliable operation of such large and complex transmission network calls
for maintaining the assets in utmost condition and the Company achieves this by meticulous
advance planning as well as adopting best technological tools available for maintenance
and monitoring of the transmission system. Some such state-of-the-art techniques being
deployed for management of assets across the Company include On-line Condition Monitoring
for Substation Equipment, On-line Transient Monitoring System, Aerial Patrolling, GIS
Mapping etc.
3.2 National Transmission Asset Management Centre, Manesar (NTAMC) and
Regional Transmission Asset Management Centers (RTAMCs)
NTAMC has been established for remote operation of the system and
monitoring of various parameters at National level and ten numbers Regional Transmission
Asset Management Centres (RTAMCs) for similar function at Regional level. During the year
2018-2019, 38 nos. of substations have been integrated in NTAMC for remote operations.
With this, a total of 210 sub stations are now integrated under NTAMC for remote operation
from control centers. These are manned by experts on 24x7 basis to provide expert handling
of the system.
3.3 Operation & Maintenance Benchmarking in POWERGRID
To achieve optimum performance in all spheres of Operation &
Maintenance (O&M) activities, the Company undertakes external as well as internal
benchmarking. In the External Benchmarking process, the Company is a part of
'International Transmission Operation and Maintenance Study (ITOMS)' - a global O&M
benchmarking platform presently comprising 32 leading global power transmission utilities.
The results of the benchmarking study are discussed and the best maintenance practices are
shared amongst the participating utilities. The Company has consistently improved its
performance in both line and substation categories.
Internally, the operational performance of regions are evaluated with
the objective to identify gaps in operational practices of various regions, identify key
initiatives and focus areas in an effort to bring, at par, the performance of regions. A
benchmarking system has also been developed for regional O&M performance on monthly
basis for critical parameters. The best practices of regions are shared on regular basis.
Measures/ initiatives, taken by the Company, to mitigate the
challenges/ concerns have been described in the Management Discussion and Analysis (MDA)
Report.
3.4 Adoption of latest technology for better availability of
transmission lines
The Company has adopted various technological tools for ensuring better
availability of transmission lines such as Aerial Patrolling of Transmission lines, App
based Patrolling etc., the details of which are described in the MDA.
3.5 Other key operational achievements during the year
3.5.1 Overhauling of six number HVDC convertor transformers at Pusauli
substation was carried out on site. This has saved time and money required for
transportation of the transformers to the factory for overhauling.
3.5.2 Rigorous in-house protection audit of more than 80 substations
was undertaken.
3.5.3 There has been no major outage of any station during the year.
3.6 Cyber Security
The Company is committed to security of its infrastructure assets from
the risks associated with cyber security and has an Information Security Policy,
implementation of which is reviewed annually through third party audits for ISO:27001
Certification. The cyber security preparedness of the Company's businesses and cyber
security initiatives are being reviewed by Chief Information Security Officer (CISO)
through the Information Security Department. The Corporate Office and the Regional
Headquarters are certified for ISO:27001 Information Security Management System. The
advisories and guidelines issued by the designated statutory bodies, namely Indian
Computer Emergency Response Team (CERT-In) and National Critical Information
Infrastructure Protection Centre (NCIIPC) are complied with. The Company also participates
in mock-drill programs organised by CERT-In. All concerned staff are sensitized in the
area of cyber security through specific awareness programs.
The possible risks due to cyber-attacks are minimised by isolating grid
connected intelligent systems from external data networks. Digital signals controlling
operation of critical equipment are kept further confined and isolated by design to
prevent any large scale cascade event.
4.0 PROJECT IMPLEMENTATION
4.1 Project Management
Efficient and timely implementation being the cornerstone of
infrastructure projects, the Company undertakes detailed planning of the projects through
various tools and processes such as Integrated Project Management and Control Systems
(IPMCS) and Enterprise Resource Planning (ERP). Also, the projects under implementation
are regularly reviewed at various levels to pre-empt/ address any obstacles faced in
timely implementation. Interactive meets with Industry partners are also a regular feature
with the objective of sharing industry best practices and resolution of issues. To further
bolster business relationships, the Company has been annually felicitating the vendors for
their performance.
4.2 Physical Achievements
4.2.1 A number of important and critical pending projects, which were
stuck up due to Right-of-Way (RoW) issues in different States, were completed through
Company's persistent efforts and with the help of Hon'ble PM's institutional project
monitoring platform - ProActive Governance & Timely Implementation (PRAGATI) and
constant support from Ministry of Power, Minister of State for Power (Independent Charge),
Central Electricity Authority (CEA) and the States' administration.
The list of projects completed by the Company during the year includes
Inter-Regional Schemes, renewable energy integration linked, projects for cross border
interconnections etc.
Inter-Regional Schemes
• 765kV Double Circuit (D/C) Jharsuguda-Dharamjaygarh line
(between Eastern and Western Regions); and
• 765kV D/C Banaskantha-Chittorgarh line & Banaskantha
Substation (between Western and Northern Regions).
Renewable Energy Integration linked
• 765kV Single Circuit (S/C) Dharampuri-Madhugiri (Tumkur) line;
• 765kV D/C Bhuj Pool-Banaskantha line & Bhuj substation;
• 400kV D/C Kadapa-Hindupur-NP Kunta System & Kadappa Gas
Insulated Substation (GIS);
• 400kV D/C Banaskantha-Sankhari transmission line;
• 400kV D/C Mundra UMPP-Bhuj transmission line;
• 400kV D/C Tumkur (Pavagada)-Hiriyur transmission line;
• 400kV D/C Bhadla (POWERGRID) - Bhadla (RVPN) transmission line
along with 1X500 MVA ICT at 765/400/220kV Bhadla (POWERGRID) substation;
• 400/220kV Tirunelveli Pooling Station (GIS) 2x500 MVA ICTs; and
• 2x1500 MVA 765/400kV ICTs at Srikakulam alongwith bay extension
at Srikakulam.
Cross border interconnections
• 400kV D/C (Quad) Punatsangchu-Alipurduar transmission line
(Indian Portion of Indo-Bhutan transmission line).
Other Major transmission lines and substations
• 765kV D/C Angul-Jharsuguda transmission line;
• 2nd Ckt. of 765kV D/C Orai-Aligarh transmission line
& Orai ICT;
• 400kV D/C Silchar-Melriat transmission line;
• 400kV D/C Dharampuri-Somanhali transmission line;
• 400kV D/C Kota-Jaipur (South) transmission line;
• 400kV D/C Farakka-Baharampur transmission line;
• LILO of both circuits of Bamnauli-Samaypur 400kV D/C
transmission line at Tughlakabad along with GIS;
• 132kV S/C Tezu-Namsai transmission line (strung on D/C towers)
& Namsai substation; and
• STATCOMs at Lucknow, Nalagarh, Kishenganj, Ranchi, Jeypore,
Gwalior, Aurangabad & Solapur.
Projects implemented by subsidiaries acquired through TBCB
• POWERGRID Parli Transmission Limited
• 765kV D/C Warora pooling station-Parli transmission line;
• 765kV D/C Parli (New)-Solapur transmission line;
• 765/400kV pooling station at Parli (2x1500MVA);and S 400 kV D/C
(Quad) Parli (New)-Parli (PG) transmission line.
• POWERGRID Warora Tranmission Limited
• 765kV D/C Gadarwara-Warora transmission line;
• 765/400kV pooling station at Warora (2x1500MVA);and
• LILO of both circuits of 400kV D/C Wardha-Parli (PG) at pooling
station near Warora.
• POWERGRID Jabalpur Transmission Limited
• 765kV D/C Vindhyachal-Jabalpur transmission line.
• POWERGRID NM Transmission Limited
• 765kV S/C Salem-Madhugiri transmission line;
• POWERGRID Southern Interconnector Transmission System Limited ^
400kV D/C Srikakulam-Garividi transmission line; and
Rs 400kV D/C Cuddapah-Madhugiri transmission line.
5.0 CAPITAL INVESTMENT AND FUND MOBILIZATION
During the year, the Company made a capital investment (CAPEX) of Rs
25,807 crore. Towards this, Rs 11,112 crore were mobilized through private placement of
bonds & term loans, Rs 6,808 crore were mobilized through External Commercial
Borrowings (ECB)/ Suppliers' Credit, Rs 7,282 crore from Internal Resources and Rs 605
crore in form of grants received from Power System Development Fund & from Central
Financial Assistance (Ministry of New and Renewable Energy).
The Company signed following new loan agreements during FY 2018-19:
• Unsecured Syndicated Term Loan facility of JPY 22 billion with
Sumitomo Mitsui Banking Corporation (SMBC), Aozora Asia Pacific Finance Ltd. and The Bank
of Yokohama.
• Term Loan facility of € 200 million from 'KfW, Frankfurt am
Main, ('KfW'), Germany for financing high capacity transmission projects, first such loan
agreement signed by the Company under KfW's 'Promotional Loan Category'.
• Term Loan of Rs 10,000 crore from State Bank of India.
Investment approvals for transmission projects worth about Rs 3,000
crore have been accorded during the year.
6.0 COMMERCIAL PERFORMANCE
The Central Electricity Regulatory Commission (Sharing of Inter-State
Transmission Charges and Losses) Regulations, 2010, which came into effect from
01.07.2011, provides for computation of Point of Connection (PoC) charges and losses for
sharing of transmission charges. The recovery of transmission charges for the services
provided by the Company for Designated Interstate Customers (DIC) is based on the Sharing
Regulations, 2010 and subsequent amendments thereof. As per the CERC Sharing Regulations,
the Company, as Central Transmission Utiliy, raises bills for transmission charges on the
beneficiaries i.e., DICs on behalf of all ISTS Licensees in the country and collects &
disburses the payments to the Licensees as per the provisions of the said regulations. The
Company is fulfilling the assigned responsibilities effectively and achieved collection
efficiency of 94.6% for FY 2018-19.
CERC has notified Tariff Regulations, 2019 vide notification dated 7th
March 2019 for the tariff block 2019-24. The salient features of the Tariff Regulations,
2019 are highlighted in the MDA section.
7.0 SUBSIDIARIES ACQUIRED THROUGH TARIFF BASED COMPETITIVE BIDDING
(TBCB)
The Company has 13 nos wholly owned subsidiaries acquired through TBCB,
and 7 of these are under commercial operation. The detailed information about Company's
TBCB subsidiaries and their performance has been described in MDA section.
8.0 STRENGTHENING OF NATIONAL GRID AND CROSS BODER INTERCONNECTIONS
8.1 Inter - Regional Power Transmission Capacity
Two inter-regional transmission lines have been commissioned during the
year, viz., 765kV D/C Banaskantha-Chittorgarh transmission line, 765kV D/C
Jharsuguda-Dharamjaygarh transmission line, thereby increasing inter-regional power
transfer capacity by 8,400 MW.
With this addition by the Company and further 4200 MW added by other
transmission licensees during the year, cumulative interregional power transfer capacity
of the National Grid stood at 99,050 MW as on 31st March 2019.
8.2 Cross-Border Interconnections
Presently, electrical interconnections with neighbouring countries-
Nepal, Bhutan, Bangladesh and Myanmar exist with aggregate power transfer capacity of
3150MW. The interconnections are being further strengthened for increased exchange of
power. Some of the upcoming and planned interconnections are as under:
8.2.1 Interconnections with Nepal
• Gorakhpur (India) - New Butwal (Nepal) 400 kV D/C (Quad)
transmission line is under discussion.
• Upgradation to rated voltage of 400kV D/C Muzaffarpur -
Dhalkebar transmission line.
8.2.2 Interconnections with Bhutan
• For evacuation of power from various upcoming hydro - electric
power projects (HEPs) in Bhutan, Jigmeling (Bhutan) - Alipurduar (India) 400kV D/C (Quad)
transmission line is under implementation.
8.2.3 Interconnections with Bangladesh
• Baharampur (India) - Bheramara (Bangladesh) 400kV D/C 2nd
transmission line is under implementation.
• Katihar (India) - Parbotipur (Bangladesh) - Bornagar (India)
765kV D/C transmission line is under discussion.
• Upgradation of Surajmaninagar - Comilla D/C line at 400kV
alongwith 500MW HVDC Back to Back at Comilla.
9.0 CONNECTIVITY, LONG TERM ACCESS (LTA) & MEDIUM TERM OPEN ACCESS
(MTOA)
POWERGRID as CTU, being the nodal agency for processing & grant of
Connectivity, Long Term Access (LTA) and Medium Term Open Access (MTOA) has granted
Connectivity to 449 nos of eligible applications for a quantum of about 1,86,597 MW and
has granted LTOA/LTA to 237 nos applications for a quantum of about 1,05,122 MW so far. In
addition, based on the transmission capacity margins availability, the MTOA has also been
granted to 138 nos of applications for a total quantum of about 14,517 MW by 31st
March 2019.
10.0 QUALITY MANAGEMENT
Quality Management System has been implemented in the Company, adopting
best practices to ensure quality of goods procured as well as quality of physical works in
the field. To accomplish this, apart from procuring goods at competitive prices and
revision of technical specifications, lot of efforts have been put on quality assurance
and various measures have been taken as mentioned below:
• Developed and maintained systems and procedures aligned with
integrated management system comprising ISO 9001: 2015 for Quality Management System, ISO
14001:2015 for Environmental Management System and OHSAS 18001:2007 for Occupational
Health and Safety Management System. BSI Group India has maintained the certification
after rigorous audits. Systems were also audited for maintenance of Social Accountability
Standard, SA: 8000, Energy Management Systems as per ISO: 50001 and Information Security
Management Systems as per ISO:27001.
• With a target to move towards zero product inspection as per
POWERGRID quality policy, inspections at some of the manufacturing units of towers,
conductor, cables, transformer oil etc. were reduced after thorough process audits as per
standardized guidelines. Man-days saved were used for process audits at other
manufacturing units for system improvements.
• Special program was conducted wherein QCI-MSE meet for ZED i.e.,
Zero Defect Zero Effect was organized. Program was a huge success and was appreciated by
all Medium and Small Enterprises (MSE) and Quality Council of India (QCI) team.
• To ensure availability of spares for ease of maintenance,
efforts have been made over the years towards indigenisation, due to which most of 765kV
Class Transformers/ Reactors/other equipment and even some of GIS equipment are presently
being supplied from India itself. New plants and facilities have been set-up in India by a
number of foreign manufacturers for equipment like GIS equipment upto 765kV, Optical
Ground Wires (OPGW), 765kV reactors, STATCOM etc., thus contributing to 'Make In India'
program.
• The Company promoted a number of existing vendors to upgrade
their equipment to higher voltage level & cover more items to increase vendor base
thus creating more competitive environment.
11.0 INFORMATION TECHNOLOGY AND ENTERPRISE RESOURCE PLANNING
11.1 As part of continued efforts towards paper-less office,
transparency and digitalization of communication, the e-office system has been implemented
and made operational. Online web-streaming facility has commenced for training programs.
This facilitates live participation across the country and also helps in archiving of
training sessions in document repository for future references.
11.2 The ERP System implementation has been successfully completed in
all regions in phases. The additional functionalities have also become operational in the
integrated ERP system as discussed herein below.
11.2.1 As part of digital initiative, POWERGRID Online Payment Utility
(POPU) application Portal has been developed for receiving all types of payments to
POWERGRID. This has resulted in 100% digitalization of payment receipts by POWERGRID.
11.2.2 All payments being made by POWERGRID have been totally
centralized with ERP system. This facilitated better management of working capital and
cash-flow needs at optimal levels in a cost-effective manner.
11.2.3 Company's establishments throughout the country have been
facilitated with biometric attendance system, which has been integrated with ERP system
12.0 TECHNOLOGY DEVELOPMENT
During the year, POWERGRID Advanced Research & Technology Centre
(PARTeC) commenced its full-fledged operation. The facility is equipped with
state-of-the-art laboratories consisting of power system analysis and real time simulation
facility, protection, automation and control facility, Wide Area Measurement System (WAMS)
facility, Equipment Diagnostics facility, Calibration and Diagnostics facility, Material
Science facility and Smart Grid facility. Various studies on power system, substation
automation system, Phasor Measurement Units (PMUs), material analysis, equipment diagnosis
and calibration are being conducted to cater to the in-house requirement of organization.
The facilities are also being used as a training facility for imparting hands-on training
programs on substation automation system, smart grid etc. to engineers of the Company as
well as of various utilities.
Software system for fault detection of Transformer, based on the data
acquired from online Dissolved Gas Analysis sensors installed on various transformers, has
been developed in-house. This is being operated at NTAMC and all RTAMCs of the Company.
With the use of this system, the Company envisages to take timely action for preventing
failures of transformers/ reactors.
A mobile capacitor bank at 33kV level, to meet the needs of
distribution companies for utilization at low voltage system conditions, has been
developed and successfully field tested in Haryana Vidyut Prasharan Nigam Limited (HVPNL)
system. Its effect on distribution system has been studied with respect to the HVPNL
system and the results obtained are affirmative.
13.0 SMART GRID AND E-VEHICLE CHARGING
13.1 Smart Grid Knowledge Centre
The Company has established Smart Grid Knowledge Center in association
with Ministry of Power, Govt. of India at PARTeC, Manesar. The Centre is equipped with
various working models and functionalities pertaining to Smart Grid and aims to bring
awareness on the applications of Smart Grid technologies and its demonstration in a
holistic manner. The Centre is providing learning environment and capacity building on all
major smart grid attributes viz., Advanced Metering Infrastructure, SCADA, Outage
Management System, Renewable Integration, Microgrid, Smart Home, EV with Renewable
Charging Infrastructure and Cyber Security etc. to the stakeholders.
13.2 Smart Transmission
Towards Smart Transmission, the Company is implementing WAMS based
Unified Real Time Dynamic State Measurement (URTDSM) project. This involves placement of
PMUs at all 400kV and above substations, generation switchyards of 220kV and above, HVDC
terminals and Phasor Data Concentrator (PDC) at SLDCs, RLDCs & NLDC control centres
along with OPGW based backbone communication infrastructure.
During the year, 154 nos PMUs (for 44 stations) and 12 nos PDCs at
SLDCs and RLDCs were added by the Company to enable synchronous measurement of real time
grid parameters across the widely spread grid with low latency in data transfer to control
centres, which would be very effective in reliable, secure and economical grid operation.
With this, cumulative PMUs and PDCs commissioned by the Company as on 31st
March 2019 stood at 1,319 nos. (for 329 stations) and 29 nos (for all RLDCs and 24 SLDCs)
respectively.
13.3 EV Charging Infrastructure
The Company is promoting electric vehicles in the country by installing
EV chargers & using electric vehicles for office purpose. It has established its first
e-taxi charging station at Hyderabad Metro.
14.0 INTEGRATION OF RENEWABLE ENERGY (RE)
Large scale renewable penetration in the grid leads to challenges
towards evacuation and its integration. The Company has been working towards
implementation of Green Energy Corridors (GEC) - Inter-State Transmission System (ISTS) at
765kV and 400kV level in renewable resource rich states in the country.
The Company has also evolved a comprehensive transmission plan for grid
integration of various Renewable Energy Zones (66.5 GW) in the country.
15.0 Renewable Energy Management Centres
To enable forecasting of renewable resources and efficient management
of intermittent renewable generation, the Company, on behalf of Govt. of India, is
establishing Renewable Energy Management Centres (REMCs) at 11 (eleven) locations in
various SLDCs/ RLDCs/ NLDC.
16.0 ENERGY EFFICIENCY
Realising the significance of energy saving aspect of sustainable
development, the Company is aggressively pursuing business opportunities in energy saving
by way of conducting energy audits of various Govt. as well as private agencies e.g.
industries, institutions, commercial establishments, State Transmission Utilities etc. The
Company is a BEE Grade-I Energy Service Company (ESCO) for undertaking energy efficiency
projects and has a large pool of certified energy auditors/energy managers who are well
qualified to offer energy efficiency solutions.
During the year, the Company secured a no. of consultancy assignments
in the energy audit business as below:
• Energy auditing of Power Transmission Corporation of Uttarakhand
Limited (PTCUL) substations along with assessment of transmission losses.
• Preparation of 14 nos. Investment Grade Energy audit report for
various cities under 'Atal Mission for Rejuvenation and Urban Transformation (AMRUT)'
Scheme of Govt. of India.
• Energy audit of transmission network of BSES Rajdhani Power
Limited (BRPL) through Delhi Electricity Regulatory Commission (DERC).
Futher, the Company, has signed an MoU with Uttar Pradesh Power
Corporation Limited for replacement of agricultural pumps, which shall pave the way for
ESCO projects in Uttar Pradesh. The Company is also exploring possibility of cooperation
with IIT Roorkee to work in the mutually agreed areas such as space cooling, lighting
power quality and waste to energy. The Company is also empaneled now with Energy
Management Centre, Kerala as an energy auditing agency and is exploring avenues for
working together in the areas of mutual interest in Energy Management.
17.0 TELECOM BUSINESS- 'POWERTEL'
Leveraging its country-wide transmission infrastructure, the Company
under the brand name 'POWERTEL' is providing a range of services under its Unified License
as National Long Distance (NLD) and Internet Service Provider - Category 'A' (ISP-'A)
Service authorizations.
The Company has undertaken expansion of the network using 200G DWDM
system, to double the existing capacity (12 Tbps) in next two years. The Company is also
partnering with last mile connectivity providers and State Electricity Boards for Right of
Way (RoW), fiber leasing, etc. to increase its network reach, its presence and potential
business opportunities. As a result, the network coverage has increased to more than
60,900 km by the end of FY 2018-19 from about 47,700 km in the previous year.
The Company has been displaying excellent performance in the areas of
providing telecom bandwidth, Mutliprotocol Label Switching (MPLS) based Virtual Private
Network (VPN), internet and other communication services to Telecom Service Providers,
Government departments and enterprise customers. The Telecom Backbone Availability for the
FY 2018-19 was 99.98%.The Company has a strong portfolio of diverse customers due to its
excellent availability and reliability. A number of customers from various segments have
reposed their trust in the reliability of Telecom Services rendered by the Company by
continuing to place the orders on it on long term basis. This has resulted into continuous
growth of revenue from Telecom business in spite of consistently falling tariffs.
17.1 Bharat Net
In line with the vision of the Government to connect 250,000 Gram
Panchayats (GP) under 'Bharat Net' towards digital India, the Company, under its scope, is
laying optical fibre cables to connect to Gram Panchayats, wherever required. As per the
revised scope of work under Phase-I, 39 districts spread across 5 States viz., Andhra
Pradesh, Telangana, Himachal Pradesh, Jharkhand & Odisha, covering 10,436 GPs, have
been allotted to the Company, by Bharat Broadband Network Limited (BBNL). Out of these,
9,793 GPs have been connected on fibre by the end of FY 2018-19.
In Phase-II of project, the Company has been assigned the work of
development of network in 2 states, i.e. Uttarakhand (5,706 GPs) and Himachal Pradesh
(2,994 GPs). Survey work and tendering activities of contracts for implementation of
projects are under progress.
17.2 Enterprise and Internet Service Provider (ISPs) Business
Connectivity to Enterprise Segment Customers is provided on Company's
MPLS Cloud. The Company provides both Layer-2 and Layer-3 VPNs with port capacity ranging
from 2 Mbps to 10 Gbps.
Company is peered with global content providers for providing IP
Transit services to ISPs. The IP Transit service reduces cost and enhances service quality
of hosted content for ISPs and in turn facilitates them to offer better internet services
to their users in a cost effective manner.
17.3 Telecom Tower Business
With a view to increase the Company's telecom services portfolio and to
provide a green and clean solution to bridge the urban- rural telecom divide in the
country, it has been exploring the use of its transmission towers as telecom towers and
also to provide power to the associated telecom equipment viz., mobile antennae, MW
antennae, electronic equipment etc., placed on the tower. The Company had undertaken a
pilot in this regard in 2017 which has been in successful operation since then.
Subsequently, the Company had approached the regulator, CERC for its approval for
utilization of transmission assets for telecom tower business. CERC has recently allowed
POWERGRID to go ahead to provide transmission line towers for Telecom application with
suitable revenue sharing with the beneficiaries. Company's extensive transmission tower
network will provide backbone telecom network and will eliminate the location disadvantage
of small distant towns towards accessibility and affordability of high speed internet.
17.4 POWERGRID is endowed with attributes essential for Data Centre
business viz., reliable power, telecom connectivity and secure space. Accordingly, the
Company is working on a business strategy for Data Centre business opportunity.
18.0 BUSINESS DEVELOPMENT & CONSULTING SERVICES
Utilising its expertise in project management as well as technical
capabilities established over the years in the core areas of power transmission,
sub-transmission, distribution management, load dispatch and communications, Smart Grid
etc., the Company is providing its services as consultant/ training partner to various
agencies within as well as outside the Country.
18.1 Domestic Market
During the year, the Company successfully commissioned the prestigious
and challenging 220kV Srinagar- Alusteng-Drass-Kargil-Leh Transmission Project. The
project was implemented by the Company on behalf of Govt. of India, as Project Management
Consultant. With its commissioning, the strategically important Ladakh region of Jammu
& Kashmir has now been electrically connected to the ISTS (Northern) Grid. The project
was dedicated to the Nation by Hon'ble Prime Minister on February 3, 2019.
Besides, on behalf of Govt. of India, the Company is also implementing,
as a Consultant, important projects in difficult geographic terrains of Sikkim and NER.
Under the NER Power System Improvement Project (NERPSIP), funded by The World Bank &
Govt. of India, transmission schemes in 6 States of NER are being implemented. During the
year, 23 elements were commissioned including transformation capacity addition of 312 MVA.
Further, the Company is acting as Consultant to Govt. of India for its 'Comprehensive
Scheme for Strengthening of Transmission & Distribution in Arunachal Pradesh &
Sikkim' project.
The Company received about 50 new consultancy assignments in domestic
market during FY 2018-19. The major consultancy assignments during the year 2018-19
include:
• Implementation of Smart Grid Projects in 19 Towns of Jammu &
Kashmir under Prime Minister Development Package (PMDP).
• Construction of substation bays at POWERGRID substations (ISTS
Grid) for injection of power from various renewable (Wind & Solar) developers.
• Diversion works of various transmission lines of POWERGRID
infringing the corridor of 'Purvanchal Expressway', being constructed by Uttar Pradesh
Expressways Industrial Development Authority (UPEIDA)
• Diversion works of various transmission lines of POWERGRID for
National Highways Authority of India (NHAI).
• Diversion of 25 transmission lines in Gujarat & Maharashtra
for upcoming high speed rail Corridor from Ahmedabad to Mumbai (Bullet Train Project).
The Company has entered into a Memorandum of understanding (MoU) with
Neyveli Lignite Corporation (NLC) for development of Neyveli Township of NLC as mini
Smartcity having all attributes of Smartcity.
18.2 International Market
On the International front also, the Company has been providing
consultancy to various clients. During the year, the Company successfully completed the
following Consultancy assignments:
• Prestigious 'CASA 1000 Project' planned for export of surplus
power to Afghanistan & Pakistan from hydroelectric projects of Kyrgyzstan &
Tajikistan.
• Second Block of 1x500MW HVDC back to back station at Bheramara
(Bangladesh) to facilitate enhancement of interconnection capacity between India and
Bangladesh.
Power Grid Company of Bangladesh (PGCB) placed another order for
providing consultancy services for establishment of 500MW HVDC Back-to Back station,
interconnecting Surajmaninagar (India) and Comilla North (Bangladesh).
During the year, the Company secured ten nos of consultancy
assignments, which include 'Project Management Consultancy Services for Transmission
System associated with Arun-3 HEP in Nepal', consultancy services for Design &
Construction of 400kV D/C Transmission line associated with Punatsangchu-I and II
Hydroelectric projects, study tour to India for delegates of Southern African power Pool
etc.
The Company has signed a Memorandum of Cooperation with Korea Electric
Power Corporation (KEPCO) for a period of two years to promote bilateral cooperation,
explore the business opportunities and develop business in power sector. Areas of
cooperation shall cover transmission lines & substations construction, O&M, power
system reliability and efficiency enhancement, Smart Grid including AMI, EV charging,
micro grid etc.
19.0 CONTRIBUTION IN GOVT. OF INDIA SCHEMES FOR DISTRIBUTION REFORMS
The Company has been making valuable contribution in Govt. of India's
schemes related to distribution reforms in the Country.
The Company has achieved its assigned targets of releasing service
connections in the States of Odisha, Uttar Pradesh, Jammu and Kashmir by December 2018,
under the Govt. of India mission of connecting each and every household.
19.1 Rural Electrification (RE) works under Deen Dayal Upadhyaya Gram
Jyoti Yojana (DDUGJY)
Under GoI's DDUGJY/ Prime Minister's Development Package (PMDP) for
rural electricity infrastructure and household electrification, the Company has so far
implemented infrastructure work for rural electrification in ninety five (95) districts of
Ten (10) States in the country at a cost of about Rs 10,802 crore. Till date, total
infrastructure has been created for electrification of 87,838 nos. villages (including
partially electrified & un-electrified villages) and service connections have been
provided to about 49.49 lakhs BPL households.
Further, RE works under DDUGJY/PMDP schemes in 8 districts of J&K
are also in progress where the scope includes 4 nos 33kV substations in Jammu, 5 Nos 33kV
substations in Kashmir and 2 nos 66kV & 2 nos 33kV substations in Leh & Kargil
areas.
Progress of RE works in FY 2018-19 is as below:
19.1.1 RE Works in Odisha
Village infrastructure was completed in 4,249 villages and 4,98,197
service connections were provided. Augmentation work of 64 nos 33kV substations, out of
total 89 substations completed.
19.1.2 RE Works in J&K
Village infrastructure was completed in 190 villages and 6,040 service
connections were provided. Work in 2 substations of 33kV in Jammu and 1 substation in
Kashmir is in progress.
19.1.3 RE Works in Uttar Pradesh
Village Infrastructure was completed in 345 villages and 17,380 service
connections were provided. Augmentation work of 5 nos 33kV substations was completed and 2
new 33kV substations have also been charged.
20.0 CONSERVATION OF LAND AND ENVIRONMENTAL CONCERNS
Transmission projects are considered by and large environmentally
benign due to the fact that they don't involve disposal of any pollutants/ waste in
various environmental matrices, i.e. air, water or soil. Nevertheless, the Company, being
a responsible corporate entity, addresses any residual environmental or social impacts
associated with its business following the cardinal principles of Avoidance, Minimization
and
Mitigation as outlined in its Environmental and Social Policy &
Procedure (ESPP). In doing so, it leverages the role of technology by not only adopting
the existing modern technological tools and technologies developed in different parts of
the world but also emphasizes on in-house technology development meeting the national
requirement.
In a country like India, which caters to 18% of the world population,
while having 2.4% of world's land mass, conflicts related to land resources are not
uncommon due to presence of different competing user groups. The Company, as a firm
believer in addressing the pressing social needs of the society, has always been
forthcoming in up gradation and adoption of new and better technologies such as Gas
Insulated Switchyard (GIS) which requires lesser area compared to the traditional Air
Insulated Switchyard (AIS). Additionally, it has taken a policy decision to secure land
for its substations through direct purchase on willing buyer-willing seller basis on
market/negotiated rate to avoid public resistance and court intervention faced during land
acquisition. Land for Jeerat, Chandauti, Saharsa & Sitamarhi substations were secured
through this method during the year.
Another area where it is able to make significant contribution in
reducing land requirement is Right of Way (RoW) through innovative tower designs such as
special compact tower, pole type tower and Multi-circuit towers. These technological
interventions not only reduced the requirement of precious land resources and social risks
to projects but also helped in preservation of environment by minimizing forest and
vegetation involvement. Further, construction of High Capacity Power Transmission
Corridors (HCPTCs) for transmitting power at higher voltage levels (765kV HVAC, 800kV
HVDC) not only reduced transmission losses but also ensured transmission of more power per
unit of RoW (MW/meter of RoW).
In the area of environmental preservation also, adoption of new and
modern technologies has helped the Company by putting it firmly on the path of Sustainable
Development. In addition to technologies indicated above, adoption of tools like Remote
sensing and GPS has resulted in the selection of most optimum route for the transmission
lines, thus, avoiding/ minimizing environmentally sensitive areas such as Forest,
Protected Areas, important wetlands, important Bird and Biodiversity Areas, elephant
corridors etc.
Another key initiative to reduce environment footprint includes up
gradation of existing lines by reconductoring them with advanced conductors to enhance the
carrying capacity of such lines. This has helped in saving lot of forest and tree cover
which might have been affected, if new lines were to be constructed for such enhanced
transmission of power. Recognizing the importance of solar power in combating Climate
change and in-line with GOI's commitment towards Paris Agreement, the Company is in the
process of installing 5 MWp Rooftop Solar PV Systems in its premises, covering more than
50 locations. This initiative will result in saving of 7-8 million units (MUs) of Grid
connected energy per annum, thereby, reducing atmospheric emission of 35,916 mT of CO2
per year. Another significant innovation done by the Company is the use of inductive power
in earth wire for powering of telecom antennas. This inductive power which otherwise goes
waste will eliminate the use of DG sets (a constant source of pollution and Green House
Gas emission) for powering of telecom Base Transceiver Station (BTS) units. The technology
has been successfully tested at pilot scale and regulatory approval of the CERC has also
been received. Other initiatives in this direction are making Rain Water Harvesting an
integral part of substation design, installation of LED bulbs & solar street lighting
in substation, fuel catalysts devices for Diesel Generator (DG) sets etc., which further
strengthened the Company's agenda of sustainable development.
1.0 CORPORATE SOCIAL RESPONSIBILITY
The Company discharges its Corporate Social Responsibility (CSR), by
committing itself to contribute to the society, through initiatives that have positive
impact on society at large, especially the community in the neighbourhood of its
operations. The main objective of CSR initiatives is improvement in the quality of life of
marginalized and under-privileged sections of the society residing around its areas of
operation. With this approach, the Company carries out various CSR activities with thrust
on Rural Development, Infrastructural Development, Skill Development, Health, Education,
Environment etc.
During FY 2018-19, the Company spent Rs 195.52 crore and sanctioned
more than 200 CSR projects of value of approx. Rs 360 crore, that will be executed over
the next 2-3 years. Focus area of the Company's CSR activities during FY 2018-19 were
education and health initiatives in line with Govt. of India targets besides
infrastructure development in rural areas like construction of community centres, internal
roads, culverts as well as projects like installation of solar street lights, drinking
water facility etc. The company provided ambulances, conducted health check-up camps and
provided infrastructural support to government hospitals/ Community Health Centre/Primary
Health Centre, etc. and organized livelihood generating skill development programmes for
youths through various government agencies.
To help economically weak patients and their attendants, creation of
patient support infrastructure at prominent health centres, like AIIMS, State Govt.
Medical Colleges, and Hospitals etc., has been given special focus over the last few
years. In this direction, the Company has constructed 300 bedded 'POWERGRID Vishram Sadan'
at J.P. Apex Trauma Centre, AIIMS, New Delhi, which was dedicated to the nation by the
Hon'ble PM on 29th June, 2018. Seven more 'POWERGRID Vishram Sadans' are being established
in the Govt. hospitals at Lucknow, Patna, Guwahati, Ranchi, Bengaluru, Darbhanga and
Vadodara, where outpatients from distant locations approach for specialised medical
treatment.
During the year, Company participated in 'Swachh Bharat Abhiyan', as a
part of Swachhta initiative. Besides construction of toilet blocks in Government schools,
construction of individual households' toilets for development of primitive tribal groups
was also taken up across the Country. 'Swachhta Pakhwada' was also observed in all units
of the Company across the Country.
The Company has its owned and operated Skill Development Centres in
eight of its Substations in Assam, Manipur & West Bengal, which impart training on
Transmission Line Tower Erection. Besides, the Company has also tied up with Indo-German
Institute for Advanced Technology (IGIAT), Vizag and Indo German Tool Room (IDTR), Indore
for imparting high-end skill training to youths on a residential basis in their campus.
About 1,100 youths were trained during FY 2018-19 and most of them are gainfully employed
Details of the CSR policy are available on Company's website, at http://10.100.18.171/sites/default/files/CSR_Policy_2015_0.pdf .
The Annual Report on our CSR activities is enclosed as Annexure XI of the Directors'
Report.
22.0 CITIZEN'S CHARTER
Citizen's Charter has been formulated for the Company providing a
visible front of its Vision, Mission and Objectives., The Citizens' Charter consisting of
Company profile, commitments, expectations from citizens, Integrated Management Policy,
services offered, values and standards of services, access to information and grievance
redressal is available on its website.
23.0 OUR PEOPLE - OUR STRENGTH
The Company, being a service organisation, has always recognised People
as its core strength and it firmly believes that employee growth and organizational growth
move in sync and this can be delivered largely through a well-articulated learning and
development system within the organization together with a culture of mutual respect and
trust.
As on March 31, 2019, the employee strength of the Company stood at
9,255 as against 8,900 on March 31, 2018, which is exclusive of the employees on Contract.
23.1 Human Resource Development
Committed to the cause of continuous learning and development of its
people, the Company has established 'POWERGRID Academy of Leadership (PAL)', a
state-of-the-art, world class institute at its 00Manesar complex near Gurgaon. The
facility provides a wide range Profit after Tax per Employee ( in Lakhs) of training
including induction, hands-on, managerial and behavioural programs to its employees. These
programs, in the electricity sector, 100.53 cover areas such as sector overview,
transmission technology & system management, hotline maintenance, Smart Grid &
Distribution so.
Management, behavioural/ leadership development programs etc.
(A During the year, the Company conducted 825 training and development
programs, at its PAL facility, its Employee Development Centres in regions and also at
premium educational institutes and centres Z 40 of learning in India and abroad. Further,
the Company's web based competency based training management system has been upgraded 20
with updated competency directory. An android-based mobile app 'PAL Manesar' has been
developed to make it easy for employees to access many web based applications from their
handheld devices. 2014-15 2015-10 2010-17 2017-10 2015-10 In FY 2018-19, the company
carried out a current state assessment of its HR processes and practices against the
globally acclaimed People Circuit kms per Employee Capability Maturity Model (PCMM)
framework. The company was one of the few organisations in Public Sector assessed to be at
Maturity
level 3. The existing HR Processes and practices in the company are
being further strengthened and upgraded in line with PCMM. Through PCMM implementation,
the company aims to streamline and align its policies and practices to global best
practices. PCMM's emphasis on commitment, measurement and improvement will lead to a
stronger I a foundation for continual business excellence through workforce and process
capability improvement.
The Company is also leveraging its people capabilities and the physical
2014-15 2015-16 2016-17 2017-18 2018-19 infrastructure at PAL to provide customised
functional and behavioural programs on consultancy basis to external (domestic and
international) stakeholders also. Training programs carried out through Ministry of
External Affairs (MEA) for South African Power Pool comprising a number of South African
nations and Capacity Building & Institutional Strengthening (CBIS) programs for North
Eastern States were some important training assignments taken up during the year.
23.2 Employee Welfare
The Company is continuously updating its welfare policies in line with
industry trend and to meet the changing needs for its employees. Issues are successfully
addressed through the National and Regional Bipartite Committee (PNBC/PRBC), a joint
consultative forum comprising management and workmen representatives elected through
secret ballot. Wage Revision of Executives, Supervisors and Workmen effective from 1st
January, 2017 has been implemented during the year.
23.3 Grievance Redressal
Grievance redressal is always taken-up on priority in the Company. Both
employee grievance and public grievance are given utmost importance and efforts are made
to resolve them promptly. A dedicated team monitors and ensures grievances are redressed
timely and impartially under strict & unbiased framework after thoroughly analysing
the facts and data. The same is reviewed regularly by the senior management. The employee
grievance is accorded top priority and the Company has a 3-tier structure for expeditious
resolution of grievance within the broad framework of policy guidelines.
23.4 Ensuring Social Justice
The Company has constituted a separate cell to look after and safeguard
the statutory provisions for SC/ ST/ OBC & Persons with Disabilities (PwD) categories
of employees. The reservation cell assists the Liaison Officer who looks after the welfare
& safeguard of SC/ ST/ OBC & PWD employees. Liaison Officer also ensures that
there is no discrimination on the basis of caste, religion & disabilities amongst the
employees. To ensure effective discharge of duties by Liaison Officer across all
establishments of the company, separate Liaison Officer for each region has been
nominated. The Company implements all directives and guidelines with regard to reservation
policy issued by Government of India. Annual inspection is also conducted to ensure
implementation of directives issued by Gol. Periodic meeting is also held with
representative of the association of SC/ ST and OBC to resolve issues, if any.
The company is also committed to gender diversity and considering that
women constitute 7.42% of its total workforce, the Company continuously strives to make
the workplace, safe and better, for its women with its policy interventions and learning
and development initiatives. The HRD Deptt of the Company also designs specific
women-centric programs with focus on empowerment and mentorship for women and special
programs are also conducted on the International Women's Day.
23.5 Sports and Cultural Activities
The Company organizes Intra & Inter-regional Sports Competitions
for Cricket, Badminton, Volleyball, Athletics, Kabaddi, Football, Chess, Carrom, Table
Tennis, Bridge etc. and participates in the Inter-CPSU Sports meets organised under the
aegis of Power Sports Control Board. POWERGRID team has emerged winners in Table Tennis,
Cricket, Chess (women) and runners up in Volleyball, Badminton (women), Kabaddi and
Athletics. One of our employees, Shri J. Mukherjee stood first in National Championship in
Para Table Tennis and represented Indian team at the International Paralympic Championship
2019 held in Amman, Jordan and won the Silver medal for the country.
Cultural programs are regularly conducted at various establishments of
the Company for promoting healthy community living; and festivals are celebrated
collectively by organizing milan samarohs and other activities etc.
24.0 PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE
As per the requirement of the Sexual Harassment of Women at Workplace
(Prevention, Prohibitions and Redressal) Act, 2013, and Rules made thereunder, Internal
Complaint Committees (ICC) are in place to redress complaints received regarding sexual
harassment. The Company has been conducting training/ workshop both for male and female
employees sensitising them about the issues and laws relating to Sexual Harassment.
During the year, 05 such training programmes were conducted across the
organization. There was no complaint of sexual harassment during the year.
25.0 IMPLEMENTATION OF OFFICIAL LANGUAGE (RAJBHASHA)
The Company is sensitive towards its responsibilities, heritage, social
and cultural values. In pursuance of Govt. of India's Rajbhasha Policy to promote Indian
languages and Rajbhasha "Hindi", the Company has made all round efforts to
integrate and promote use of Hindi in its official works at all levels.
To ensure the increased use of Official language, various activities
such as Annuvad Abhayaas Karyakram, workshops, trainings, motivational programs are
organized in the Company. Computer trainings are imparted to enhance the working knowledge
in Hindi on computers. Hindi classes are also being organized for non-Hindi speaking
employees through Hindi Teaching Scheme. Lectures on heritage, social and cultural
concerns are also being delivered by eminent scholars on regular basis to motivate the
employees towards increased working in Hindi.
Various activities are undertaken to publicize the Rajbhasha, e.g.
Akhil Bhartiya Rajbhasha Sammelans, Technical conferences in Hindi, Kavi Sammelans (Poetry
sessions), Plays, publication of monthly articles in Hindi via emails etc. Also, various
Hindi competitions are being conducted in the organization throughout the year with
special emphasis during Hindi Pakhwada, Swachchta Pakhwada, Vigilance Awareness Week,
Qaumi Ekta Saptaah, Pt. Deen Dayal Upadhyay Janmshati Diwas etc. along with departmental
meetings as well as Official Language Implementation Committee (OLIC) meetings. The
Company's Hindi library is considered as one of the best Hindi libraries among Public
Sector Undertakings. More than 14,500 books, 53 Hindi Magazines on various topics and 16
Hindi daily newspapers are available for the employees.
Attractive incentive schemes for employees working in Hindi have been
implemented as per the government guidelines. Also various award and reward schemes have
been introduced to encourage employees to actively participate in promotion of Hindi, by
giving articles/ write-ups for in-house magazines, reading library books etc.
For creating awareness among the employees, and to motivate them to
maximise use of Hindi in official works and for publicity of official language, All India
Official Language Conference Cum Technical Seminars were organised at eight places during
the year by the Company. During the daylong events, employees from different regions of
the Company along with various member offices of Town Official Language Implementation
Committee participated where different sessions on official language, as well as on
technical topics e.g. health, information technology etc. and multi-topic quiz were held.
The efforts made by the Company were recognised in several fora during
the year 2018-19. Various awards were conferred by different Town Official Language
Implementation Committee (TOLICs) under the aegis of Ministry of Home Affairs, Govt. of
India regarding best
Implementation of Official Language. Besides, Company's efforts were
also appreciated during various inspections and discussions of the Hon'ble Committee of
Parliament on Official Language and by Hindi Advisory Committee meetings on different
occasions.
26.0 STAKEHOLDER ENGAGEMENT & CORPORATE IMAGE
The Company has been persistently working towards building a long term
sustainable relationship with its stakeholders and it has always believed that reliable
and timely communication is the hallmark of stakeholder engagement.
For internal stakeholders, communication streams such as e-magazines
like Communique and Cue; display magazine LOUNGE and quarterly magazines published by
regional offices regularly apprise the employees about the developments, achievements,
events, and also the viewpoints of management.
Regular interactions between management, analysts and other
stakeholders have been instrumental in bringing transparent work culture in the
organization. Evocative films and documentaries, made on specific projects (Srinagar Leh
Transmission System and IPDS works in Varanasi) captured and highlighted the hard work and
project management skills of the workforce of the Company.
The Company also regularly participates in various domestic and
international exhibitions and during the year 2018-19, it participated in such conferences
including those in Myanmar, Nigeria, Russia and Abu Dhabi where it displayed its
competencies and capabilities.
27.0 RIGHT TO INFORMATION
In compliance to 'Right to Information Act, 2005', an appropriate
mechanism is in place across the Company for promoting transparency and accountability,
wherein the Company has nominated Central Public Information Officer / Appellate
Authorities at its Corporate Office and Regional offices across the country to provide
required information under the provisions of Act.
Further, for effective processing, monitoring, and management of RTIs
and Appeals, a web-based online RTI Portal has been developed in POWERGRID. The RTI portal
is envisaged to facilitate timely reply of RTI/ Appeal to the applicant by real time
monitoring of RTIs / Appeals. Also, the portal facilitates in generation of various RTI
reports, knowledge sharing with regard to replies, latest RTI circulars and guidelines
etc.
In FY 2018-19, total 1,501 nos. of RTI applications were received in
the Company and processed as per the Act. RTI Awareness Programs/ Workshops were organized
in different regions to apprise the employees with latest updates on the RTI Act, 2005 and
Central Information Commission (CIC) decisions.
28.0 COMMITMENT TO TRANSPARENCY & VIGILANCE FUNCTION
Recognizing the importance of good governance, the Company advocates
the principles of Transparency, Probity and Ethics in its management functioning. The
Vigilance Department of the Company functions as an integral part of the management. The
department ensures that best ethical practices are followed in the organization.
• Emphasis on Preventive Vigilance
Although the Vigilance Department performs preventive, proactive, as
well as punitive functions to strengthen the organizational process and to minimize the
malpractices in various systems and activities of the organization, the emphasis is on
preventive and proactive vigilance. While preventive vigilance focuses on whether the
right type of systems exist or need to be re-engineered, proactive vigilance aims at the
identification of opportunities and in taking pro-active action against potential threats.
During FY19, 47 surprise inspections and 59 Chief Technical Examiner
(CTE) Type inspections/ process-on-line inspections were conducted. Pursuant to Vigilance
inspections and observations/recommendations, many system improvements in various
functions of the organisations have been implemented.
• Preventive Vigilance Workshops as part of Capacity Building
As part of Capacity Building, Workshops on Preventive Vigilance were
conducted at the Corporate Centre as well as at various Regions of the Company. During the
year, 23 Preventive Workshops were conducted for 690 non-vigilance personnel. The
Preventive Vigilance Workshops contain module of Ethics Management which enables the
employees to identify and deal with ethical dilemma.
• Vigilance Awareness
In pursuance of the directions of Central Vigilance Commission, the
Vigilance Awareness Week 2018 was observed by POWERGRID in all its offices across the
Country from 29.10.2018 to 03.11.2018 in line with the theme for this year "Eradicate
Corruption- Build a New India".
Vigilance Awareness Week was celebrated with great enthusiasm and
fervour across all offices in India and abroad along with the management, its employees
and their family members.
The Week commenced with the Integrity Pledge in Corporate Office and
across all offices of the Company and was extended to all the stakeholders. To sensitize
the next-gen to the ethical values, a number of activities were organized in more than 350
schools and colleges involving more than 40,000 students.
Walkathons were conducted in around 200 establishments wherein the
employees along with their families participated holding placards on integrity, honesty
etc. Nukkad Natak with the theme of integrity and transparency were organized in prominent
places involving more than 20,000 people. 'Awareness Gram Sabhas' were conducted touching
more than 15,000 villagers for dissemination of awareness in Gram Panchayats to sensitise
citizens on the ill- effects of corruption. CANDOUR, the official journal of POWERGRID
Vigilance department was released during the Vigilance Awareness Week. In line with Go
Green Initiative of the Company, the journal was released in digital form (e-CANDOUR).
29.0 DISASTER MANAGEMENT
The Company has always been at forefront when it comes to contribution
in restoration of the power system as well as providing manpower and relief material in
any area hit by natural calamity. In August 2018, when devastating floods caused major
damages in the State of Kerala and the distribution system of Kerala was affected, the
Company provided assistance in restoration of system by setting up on - Site testing
facility and repair workshops for distribution transformer at Kochi, Trichur and
Pathanamthitta. Restoration of 110 kV Neriamangalam- Kuthungal line was done by directly
connecting to substation through stringing across the river. Replacement of medical
equipment in Govt. Hospital at Pampa- Sabarimala along with restoration of the Hospital
was also carried out. In addition to this, support was also extended by supplying common
relief material in flood - affected districts.
The employees of the Company also supported in the rebuilding efforts
through contribution to Chief Minister's Relief Fund and supporting the cleaning up
activities.
30.0 PROMOTION OF MICRO, SMALL AND MEDIUM ENTERPRISES (MSMEs)
In line with Govt. of India directives for promotion of MSMEs, the
Company has been complying with the guidelines. The Company has been registered on Trade
Receivable e-Discounting System (TReDS) platforms of Receivable Exchange of India Limited
(RXIL). Trade Receivables Discounting System (TReDS) is the scheme for facilitating the
financing of trade receivables of MSMEs from corporate and other buyers, including
Government Departments and Public Sector Undertakings (PSUs), through multiple financiers.
The Company is continuously pursuing with its MSME suppliers to get themselves on-boarded
on TReDS Platforms, for which detailed guidelines have been provided in 'Tender' section
of the Company's official website www.powergridindia.com .
Suitable provisions have already been incorporated in the Bidding Documents of the company
for procurements of various products produced and services rendered by Micro and Small
Enterprises in line with amendment to the Public Procurement Policy (Order 2012) in
November 2018. The company has achieved the target of mandatory procurement of 25% out of
total annual purchases of products and services rendered by Micro and Small Enterprises in
line with Public Procurement Policy (Order 2012) read in conjunction with its amendment in
November 2018. Total eligible value of annual procurement of goods produced and services
rendered by MSEs (including MSEs owned by SC/ST and women entrepreneurs) for financial
year 2019-20 is projected to be in the range of Rs 1,000 crore.
Further, to encourage and develop Micro and Small manufacturers for
supply of innovative & quality products, MSE vendor development programs were
conducted during the year at various locations across the Country, wherein presentations
were made and discussions were held with numerous small manufacturers of our Country. A
number of Micro, Small & Medium Enterprises have been developed as sub-vendors and
approved for supply of components for various equipment.
31.0 MANAGEMENT DISCUSSION AND ANALYSIS
In addition to the issues stated in the Directors' Report, some issues
have been brought out in report on Management Discussion and Analysis placed at Annexure-I
and forms part of the Financial Report.
32.0 BUSINESS RESPONSIBILITY REPORT
The Business Responsibility Report, as stipulated under Regulation 34
(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is
given in Annexure-II and forms part of the Annual Report.
33.0 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
Pursuant to Section 134(3) (m) of Companies Act, 2013 read with Rule 8
of The Companies (Accounts) Rules, 2014 information relating to 'Conversation of energy,
technology absorption and foreign exchange earnings and outgo', is given in Annexure-III
to this Report.
34.0 RISK MANAGEMENT POLICY
Information on Risk Management Framework is covered in the Management
Discussion and Analysis Report attached as Annexure-I of this Report.
35.0 INTERNAL FINANCIAL CONTROLS AND ADEQUACY
The Board has adopted policies and procedures for ensuring the orderly
and efficient conduct of its businesses, including adherence to the Company's policies,
the safeguarding of its assets, the prevention and detection of frauds, error reporting
mechanism, the accuracy and completeness of the accounting records and the timely
preparation of reliable financial disclosures.
36.0 STATUTORY AUDITORS OF THE COMPANY
The Statutory Auditors of The Company are appointed by the Comptroller
& Auditors General of India. M/s S. K. Mittal & Co., M/s R. G. N. Price & Co.,
M/s Kothari & Co. and M/s Parakh & Co. were appointed as Joint Statutory Auditors
for the financial year 2018-19.
The Statutory Auditors have given an unqualified report. The report is
self-explanatory and does not require any further comments by the Board.
37.0 COMPTROLLER AND AUDITOR GENERAL'S COMMENTS
Company has received 'NIL comments on the accounts for the year ended
March 31, 2019 by the Comptroller and Auditor General of India under Section 143(6) of the
Companies Act, 2013. Copy of the same is attached as Annexure - IV to this Report.
38.0 SECRETARIAL AUDITOR
Kumar Naresh Sinha & Associates, Practising Company Secretary has
conducted Secretarial Audit of the Company for the financial year ended March 31, 2018.
The Report forms part of this Annual Report (Annexure-V).
The Secretarial Auditor have reported that during the period under
review, the Company has generally complied with the provisions of the Act, Rules,
Regulations, Guidelines, Standards, etc. mentioned above subject to the observation that:
"Provisions of Regulation 17(1) of Securities and Exchange Board
of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Para
3.1.4 of DPE Guidelines on Corporate Governance with regard to Composition of the Board of
Directors have not been complied with during the financial year under review."
The explanation, on the observation of Secretarial Auditors, is as
under:
Your Company, being a Government Company within the meaning of Section
2(45) of Companies Act,2013, the power to appoint Directors on the Board vests with the
Govt. of India. Against the requirement of seven Independent Directors on your Company's
Board during the year, five Independent Directors were on the Board. Thus, the Company has
not been able to comply with provisions of Regulation 17(1) of SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 and DPE Guidelines on Corporate Governance
with regard to Composition of the Board of Directors during the financial year under
review. The matter is being pursued with the Administrative Ministry for filling up of
existing vacancies of Independent Directors.
39.0 COST AUDITORS OF THE COMPANY
The Company appointed M/s R. M. Bansal & Co., Cost Accountants and
M/s Chandra Wadhwa & Co., Cost Accountants as Cost Auditors for the Financial Year
2018-19 under Section 148 of the Companies Act, 2013.
The Cost Audit Reports for the FY 2018-19 will be filed with the Cost
Audit Branch, Ministry of Company Affairs before due date.
40.0 EXTRACT OF ANNUAL RETURN
In accordance with Section 134 (3) (a) of the Companies Act, 2013 an
extract of the Annual Return, in the prescribed format in MGT-9, is given as Annexure VI
of this Report.
41.0 COMPANY'S BOARD
The composition of Board of Directors underwent some changes during the
year 2018-19.
Shri I.S. Jha demitted the office of Chairman & Managing Director
on 21st January, 2019, consequent on his appointment as Member, Central Electricity
Regulatory Commission. The Board, on its behalf & all the employees of the Company,
placed on record their deep sense of appreciation and gratitude for his valuable
contribution and commitment to take the Company to new heights.
The Ministry of Power, vide Office Order dt. 21.01.2019, entrusted the
additional charge of post of Chairman & Managing Director (CMD) to Shri Ravi P. Singh,
Director (Personnel) for period of three months. The Ministry of Power, vide Office Order
dt. 13.06.2019, has further extended tenure of Shri Ravi P. Singh as CMD for a period of
six months w.e.f. 21.04.2019 or till the appointment of a regular incumbent, or until
further orders, whichever is the earliest.
Shri Prabhakar Singh, Director (Projects) also demitted the office on
30th June, 2018, upon attaining the age of superannuation. The Board acknowledges the
contribution of Shri Prabhakar Singh in various roles he handled during his tenure. Mrs.
Seema Gupta, Director(Operations) was given the additional charge of the post of Director
(Projects) vide Office Order of MoP dt. 09.07.2018 for a period of three months. Shri R.
K. Chauhan, assumed the charge of Director (Projects) with effect from 23rd August, 2018.
Ms. Bharati, Joint Secretary, MoP ceased to be Govt. Nominee Director
on 13.02.2019. Shri Vivek Kumar Dewangan, JS & FA, MoP, who was on the Board of the
Company since 26.04.2018 ceased to be Govt. Nominee Director on 07.06.2019. The Board
places on record its appreciation for the valuable contribution, guidance & support
given by Ms. Bharati and Shri Dewangan.
Shri Ghanshyam Prasad, Chief Engineer, Ministry of Power, was appointed
as Govt. Nominee Director on 01.03.2019.
Shri Sunil Kumar Sharma and Mrs. A. R. Mahalakshmi were appointed as
Independent Directors w.e.f. 23.07.2018 and 26.07.2018, respectively vide Ministry of
Power Office Order dt. 17.07.2018.
Shri J. I. Patel, Independent Director appointed w.e.f. 17.11.2015 for
a period of three years vide GOI Order dated 17.11.2015. Shri Patel was reappointed for
further period of one year from the completion of his earlier tenure.
Shri M. N. Venkatesan, appointed as an Independent Director w.e.f.
11.07.2019 for a period of three years vide GOI Order dated 11.07.2019 Shri Anurag
Agarwal, AS&FA, Ministry of Power, appointed as a Govt. Nominee Director on the Board
of POWERGRID w.e.f. 27.06.2019 ceased to be Director on 12.07.2019.
In accordance with the provisions of the Companies Act and the Articles
of Association of the Company, the resolutions w.r.t. reappointment of Shri Ravi P. Singh
(DIN: 05240974) as Director liable to retire by rotation; appointment of Shri Rajeev Kumar
Chauhan (DIN: 02018931) as Director; reappointment of Shri Jagdish Ishwarbhai Patel (DIN:
02291361) & appointment of Shri M. N. Venkatesan (DIN: 02126022) as Independent
Directors have been included in the Notice of Annual General Meeting.
42.0 NUMBER OF MEETINGS OF THE BOARD
Board of Directors met 13 times during the financial year 2018-19.
Details regarding dates and attendance of the Board meetings are provided in the Report on
Corporate Governance, which forms part of this Report.
43.0 COMMITTEES OF THE BOARD
The Company has Audit Committee, CSR Committee, Nomination and
Remuneration Committee, Stakeholders' Relationship Committee, and some other Committees
for operational convenience of the Company. The composition and scope of the aforesaid
Committees are provided in the Report on Corporate Governance.
Report on the Corporate Governance (Annexure-VII), together with the
Certificate thereon (Annexure-VIII) are attached to this Report.
44.0 DECLARATION BY INDEPENDENT DIRECTORS
During the year, all the Independent Directors have met the
requirements specified under Section 149 (6) of the Companies Act, 2013 for holding the
position of 'Independent Director' and necessary declaration from each Independent
Director under Section 149 (7) was received.
45.0 PERFORMANCE EVALUATION OF DIRECTORS
The Ministry of Corporate Affairs (MCA) vide Notification dated 5th
June, 2015 has exempted Government Companies from the provisions of Section 178 (2) of the
Companies Act, 2013 (the Act), which provides for manner of evaluation of performance of
Board, its Committees and Directors by Nomination and Remuneration Committee. The
requirement of mentioning a statement on the manner of formal evaluation of performance of
directors in Boards' Report as per section 134(3) (p) of the Act has also been done away
with for Government Companies, where the directors are evaluated by the Ministry or
Department of the Central Government which is administratively in charge of the company,
as per its own evaluation methodology. Further, MCA vide its notification dated 05th July,
2017 has made an amendment in the Schedule IV of the Act, whereby it has exempted
Government Companies from complying with the requirement of performance evaluation by the
Independent Directors of non-independent directors and Chairman and performance evaluation
of the Independent Directors by the Board, if the concerned departments or ministries have
specified these requirements.
The Department of Public Enterprises (DPE) has laid down a mechanism
for performance appraisal of all Functional Directors. DPE has also initiated evaluation
of Independent Directors.
The Company enters into Memorandum of Understanding (MoU) with Ministry
of Power (MoP) every year wherein Company is evaluated on various financial and
non-financial parameters. The performance of the Company & Board of Directors is
evaluated by the Department of Public Enterprises in terms of MoU entered into with MoP.
In terms of Regulation 25 of SEBI LODR, 2015, the performance of the
Board as a whole and non-independent directors including Chairman & Managing Director
were evaluated by the Independent Directors in a separate Meeting held by them on 14th
March, 2019..
46.0 POLICY ON DIRECTORS' APPOINTMENT AND REMUNERATION
The Company has framed a policy on the remuneration of the Directors,
KMPs and employees as required under the provisions of Section 178 of the Act. The said
policy is available on our website at https://www.powergridindia.com/sites/default/files/Investor_Relation/
Reports_Filings/Code_of_Conduct_Policies/04_Remuneration%20Policy.pdf
47.0 PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS
Loans, Guarantees or investments under Section 186 of the Companies
Act, 2013 form part of the Notes to Financial Statements (Note No. 58) provided in this
Annual Report.
48.0 PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES
Particulars of contracts or arrangements with related parties referred
to in Section 188 (1) of the Companies Act, 2013, in the prescribed Form AOC-2, are given
as Annexure IX of the Directors' Report. Further, attention of the members is drawn on
Note No. 58 of the Financial Statement which sets out related party disclosures.
49.0 SUBSIDIARIES AND JOINT VENTURES
As on 31st March 2018 The Company has 13 subsidiaries and 13 Joint
Ventures Companies.
A statement containing salient features of the financial statements of
our Subsidiaries and Joint Ventures are covered in the Management Discussion and Analysis
and also annexed in the prescribed format AOC-1 as Annexure X.
50.0 DIVIDEND DISTRIBUTION POLICY
As per regulation 43A of the SEBI (Listing Obligation and Disclosure
Requirements) Regulations, 2015 (the Listing Regulations), the top 500 listed companies
shall formulate a dividend distribution policy. Accordingly the policy was adopted to set
out the parameters and circumstance that will be taken into account by the Board in
determining the distribution of dividend to its shareholders and/or retained profits
earned by the Company. The policy is also available on the Company's website https://www.powergridindia.com/sites/default/files/
Dividend%20Distribution%20Policy.pdf
51.0 SIGNIFICANT MATERIAL ORDERS
There are no significant and material orders passed by the Regulators
or Courts or tribunal impacting the going concern status and Company's operations in
future.
52.0 DIRECTORS' RESPONSIBILITY STATEMENT
As required u/s 134(3)(c) & 134(5) of the Companies Act, 2013, The
Directors confirm that:
(a) i n the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanation relating to material
departures;
(b) the Directors had selected such accounting policies and applied
them consistently and made judgments and estimates that are reasonable and prudent so as
to give a true and fair view of the state of affairs of the Company at the end of the
financial year and of the profit of the Company for that period;
(c) the Directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the provisions of this Act
for safeguarding the assets of the Company and for preventing and detecting fraud and
other irregularities;
(d) the Directors had prepared the annual accounts on a going concern
basis;
(e) the Directors had laid down internal financial controls to be
followed by the Company and that such internal financial controls are adequate and were
operating effectively;
(f) the Directors had devised proper systems to ensure compliance with
the provisions of all applicable laws and that such systems were adequate and operating
effectively.
53.0 ACCOLADES & AWARDS
During FY 2018-19, the Company has been conferred following important
awards/ accolades:
• Fastest Growing Electric Utility in Asia- for the fifth
successive year since 2014, based on Platts Top 250 Global Energy Company Rankings.
Globally, the Company was positioned as the 3rd Fastest Growing Electric Utility;
• FBIP Award 2019 for Best Performing Power Transmission Utility
for its outstanding contribution to the power transmission sector in the country;
• CBIP Special Jury Award for Innovation Excellence in Power
Transmission;
• Flatinum Prize (1st prize) in Power Sector Category
at the 6th FICCI Quality Systems Excellence Award;
• One of the Top 25 Most Innovative Companies in India at the 5th
CII Industrial Innovation Awards 2018 - only power sector CPSE in the list;
• Good Corporate Citizen Award category at PHD Annual Awards for
Excellence 2018;
• Owards for Overall Best Overall Navratna, Best Navratna in
Services and Electricity: Power Transmission categories at Dun & Bradstreet PSU Awards
2018;
• 0018 EEI Asia-Oceania Index Award at EEI (Edison Electric
Institute) Global Electrification Forum, for Highest Total Shareholder Returns in Gold
Large Capitalization category;
• OML Munjal Award for Business Excellence through Leadership and
Development for 2018 in PSU Services category;
• Ohird Prize in Public Sector Enterprises category at the
National Competition for Innovative Training Practices (2017-18) by Indian Society for
Training & Development;
• 0 ndia Concord Summit (ICS) 2018 PSU Award for Best HR Practices
by a PSU-Navratna;
• FT2GOOD rating at the second edition of ET2GOOD 4GOOD Ratings
conferral ceremony for All-Round Excellence in CSR for 2016-17 & 2017-18;
• Gold Certificate for Best CSR Practice at the Haryana CSR Summit
2018 by Govt. of Haryana;
• 0 old Medal for Corporate Social Responsibility presented by the
Hon'ble Governor of Telangana & Andhra Pradesh and President of the Indian Red Cross
Society;
• Best CEO Award to CMD, POWERGRID in PSU category at Business
Today Best CEO Awards
• Felicitation of CMD, POWERGRID at the PSE Excellence Awards 2018
by Indian Chamber of Commerce;
• 0 rs. Seema Gupta, Director (Operations) awarded Best
Contribution Award at the ITOMS International Conference at Kuala Lampur, Malaysia;
• Winner in the Power category at Dun & Bradstreet Corporate
Awards 2018 and in Power Transmission category at Dun & Bradstreet Infra Awards 2018;
• Strategic Performance and Consistent Growth Award at the 6th
PSU Awards by Governance Now.
54.0 ACKNOWLEDGEMENTS
The Board of Directors would like to express their deep sense of
appreciation for the guidance and co-operation received from Government of India,
particularly Ministry of Power, Ministry of Finance, Ministry of Home Affairs, Ministry of
External Affairs, Ministry of Statistics and Programme Implementation, Ministry of
Environment, Forests & Climate Change, Ministry of Railways, Ministry of Corporate
Affairs, , Central Electricity Regulatory Commission, Appellate Tribunal for Electricity,
Central Electricity Authority, NITI Aayog, Department of Public Enterprises, Regional
Power Committees, Office of the Comptroller and Auditor general of India, and other
concerned Govt. departments/ agencies/statutory authorities at the Central and State level
without whose active support, the achievements of the Corporation during the year under
review would not have been possible.
The Board also conveys its gratitude to your Company's valued
customers, State Governments and State power utilities and other clients, who have awarded
various consulting works and reposed faith in Company's capability to handle them. The
Board also appreciates the contribution of Contractors, Vendors and Consultants for the
support and co-operation your Company has been receiving towards successful implementation
of various projects by the Company.
The Directors also acknowledge the valuable suggestions and guidance
received from the Statutory Auditors during the audit of accounts of the Company for the
year under review.
The Board also conveys its sincere thanks to National and International
financial institutions, multilateral Financial Institutions, domestic & international
Credit rating agencies for their assistance, continued trust and confidence reposed in the
Company.
On behalf of Board of Directors, I would also like to thank the
Executive team for their strong leadership, the employee unions for their support and our
employees at all levels for their commitment and dedicated efforts which have enabled the
Company to continue to be the World's premier transmission utility.
|
For and on
behalf of the Board of Directors |
| Place: New Delhi |
(Ravi
P.Singh) Director (Personnel) & CMD |
| Date: 19th July, 2019 |
DIN:05240974 |