Public Sector
Record Generation by NTPC Stations in FY 16
NTPC, India's largest power utility has recorded highest ever Annual Generation of 241.98 BUs ( excluding JVs ) in the financial year 2015-16. Company exceeded its capacity addition target by adding 2255 MW taking NTPC Groups total installed capacity to 46653 MW as on 31st March, 2016. NTPC's solar stations achieved highest ever generation of 160.8 MUs at a CUF of 16.64 %. Four coal power stations of the company were amongst the top 5 in the country in terms of PLF during the period. Company met its capex target of Rs. 25000 crore during the year and also achieved 100 % realization of the dues. Coal Mining activities shall also commence at its Pakri Barwadih Mine soon. Company reduced its imported coal consumption by 42.19% during the year to 9.47MMT from 16.38% during last year. Company's efforts during second half of FY 16, as a result of rationalization of coal linkages, reduction in imported coal consumption, enforcement of third party sampling of coal and other measures led to reduction in energy charges of coal stations by nearly 20%. NTPC shall endeavor to bring down the energy charges further to help the Discoms. With capacity addition of 9550 MW during the current plan, NTPC is all geared up to achieve the target of 11920 MW for the 12th five year plan ending 2016-17. NTPC commissioned Unit 3 and 4 at Koldam - 400 MW in Himachal , Bongaigaon unit 1-250 MW in Assam, Vindhyachal unit 13 - 500MW in Madhya Pradesh, BRBCL Nabinagar unit 1 - 250 MW in Bihar, Kanti unit 3 - 195 MW in Bihar, Mouda unit 3-660 MW in Maharashtra during the year. Under its CSR activities, company shall continue to provide safe drinking water and focus on training and skill development of people in the vicinity of its projects and stations. The options of installing water ATMs and opening of generic medicine shops to provide access to low cost medicines for them is also being explored. NTPC presently has 18 coal based, 7 gas based, 8 solar PV, one Hydro and 8 Subsidiaries / Joint Venture power stations. Company has a capacity of over 24,000 MW under different phases of completion.
SAIL Undergoes Leadership Change at the Top
There has been a change in the top deck of management at Steel Authority of India Limited, the country's largest public sector steel company, with new CEOs taking charge at three of its steel plants. SAIL has appointed new Chief Executive Officers (CEO) to head its steel plants at Burnpur, Rourkela and Durgapur. R.K. Rathi has taken charge as CEO, ISP, Burnpur while Ashwini Kumar and A.K. Rath has taken charge as CEO of Rourkela and Durgapur Steel Plant respectively. M. Ravi has been declared as the CEO designate for Bhilai Steel Plant and would take charge of the plant with the superannuation of the present incumbent. In the present challenging times for the steel industry, these appointments at the helm would further strengthen SAIL's thrust on ramping up production from new units, aggressive cost reduction and improvement in product mix in these three plants which have recently completed modernisation and expansion program. The leadership changes at the top come at a time when SAIL, like many other companies in the steel sector, is facing intense pressure on its margins due to the downturn in the steel market , a problem that has been compounded in the last year and a half due to surge in cheap imports. Ratings agency CARE Ratings recently downgraded the credit rating for SAIL from AAA to AA+ due to subdued financial performance. In the nine month period (April-Dec 2015), the company had posted a net loss of Rs 2,906 crore against a net profit of Rs 1,758 crore in the same period last year.