NLC India Ltd
Directors Reports
Dear Members,
It is indeed my proud privilege on behalf of our Board of Directors to present the 67th
Board's Report on the business and operations of the Company together with the Audited
Financial Statements for the year ended 31st March, 2023 and the reports of Statutory
Auditors and Comptroller and Auditor General (C&AG) of India.
The Financial Year 2022-23 has been a year of good achievements for your Company with
all round performance. The significant highlights of achievements during the financial
year (FY) 2022-23 are as follows:
a) Coal Production touched a new high of 100. 26 LT with 57.69% increase over the last
financial year.
b) Highest ever Power Generation by NLCIL Group -30.08 BU with 3.01% increase over the
last financial year.
c) All time ever highest Green Power Generation of 2.19 BU during the FY 2022-23.
d) Achieved CAPEX of Rs. 3,308 Crore against a target of Rs. 2,920 Crore.
e) All time ever highest procurement through Government e Marketplace (GeM) as a group
having a value of Rs. 1,028 Crore during the FY 2022-23 which is 65.03% of total
procurement of Rs. 1,581 Crore.
f) GeM Portal ranked NLCIL as No.1 for 'Timely payments' and No.2 for 'Overall ranking'
among Top 20 CPSE Buyers for FY 2022-23.
g) All time highest ever other income of Rs. 198.75 Crore through Disposal Department
during the year.
h) Signed PPA with KSEBL for 400 MW of NLC Talabira Thermal Power Project with this,
PPA for 2,000 MW out of 2,400 MW of this project has been signed.
i) Signed Memorandum of Understanding (MoU) with Assam Power Distribution Company
Limited (APDCL) for development of 1,000 MW of RE projects in the state of Assam on 09th
August, 2022.
j) Signed MoU with National Institute of Wind Energy (NIWE) on 19th October, 2022 for
collaboration in the domain of Wind Energy.
k) Signed MoU with Bharat Heavy Electronic Limited (BHEL) on 12th October, 2022 for
Study on pilot plant for Lignite to syngas Integrated with Clean Power Generation by IGCC
and production of value added chemicals.
l) Signed MoU with GRIDCO for setting up Ground mounted/floating solar plants, Pumped
hydro storage and Green Hydrogen on 01st December, 2022.
m) Issued Letter of Award (LOA)of contract value of Rs.1,755 Crore for setting up of
300MW Solar Plant at Barsingsar Project on 27th March, 2023.
n) MoC has awarded 4 Mines of NLCIL with 5 Star rating and 1 Mine of NLCIL as 4 Star
rating. Neyveli Lignite Mine II was ranked No.1 with 5 star rating among 199 mines in Base
Year 2020 - 21 and similarly Mine I was ranked No. 1 among 206 mines, in Base year
2021-22.
o) Mine I & IA - Sale of Minor Minerals was started from 14th March, 2023 and
earned a revenue of Rs. 2.58 Crore.
p) Signed MoU with PTDC (Pondicherry Tourism Development Corporation Ltd) for promoting
Mine Eco Tourism on 05th October, 2022. During FY 2022-23, 8430 persons visited Neyveli
Mines and eco-parks.
q) MoU signed with TWAD Board by which NLCIL will supply 425 Lakh litres of water per
day for benefit of 6 town panchayats, 625 villages and 7.91 Lakh people.
r) Tripartite meeting conducted at Neyveli (NLCIL, DGMS & Recognised Trade union
leaders) on 25th April, 2022 regarding safety in Neyveli Mines.
s) Total Revenue from Coal sale is Rs. 1773.50 Crore for FY 2022-23 which is the
highest ever revenue generated since inception.
t) Signed MoU with "The Nature Conservancy India" to reuse its mined-out land
by setting up RE projects and to take action to reduce carbon emissions.
u) Entered the Country's First ever Coal swapping arrangement for NTPL with NTPC, for
Talabira Coal with MCL Coal.
Power
The total power generating capacity of the Company as on 31st March, 2023, including
wind and solar power generation is 5,061.06 MW and for NLCIL Group is 6,061.06 MW
(including the capacity of NTPL, the Subsidiary Company).
During the FY 2022-23, the total Power Generation (Gross) was 24,152.81 Million Units
(MU) and the power generation including Power surrender was 24,775.05 MU, as against
25,022.36 MU and 25,828.15 MU, respectively achieved during the FY2021-22. The Power
Export during the year 2022-23 was 21,281.99 MU as against 22,041.04 MU achieved in the
year 2021-22.
The average Plant Load Factor (PLF) of the Thermal Power Plants of the Company during
the year 2022-23 was 68.86% as against the National Average of 64.15%.
The total power generation including NTPL was 30,082.80 MU against the previous year
generation of 29,204.82 MU
Mining - Lignite & Coal
Your Company is presently operating three opencast Lignite Mines at Neyveli in the
State of Tamil Nadu and one opencast Lignite Mine at Barsingsar in the State of Rajasthan.
The total mining capacity of all the Lignite Mines is 30.10 MTPA. Your Company has also
started Coal mining operations in Talabira II & III Opencast Coal Mines at Odisha,
with a mining capacity of 20.0 MTPA, from 26th April, 2020. Thus, the total mining
capacity of your Company is 50.10 MTPA.
During the FY 2022-23, the total overburden (OB) removed in the Lignite & Coal
Mines was 1,533.28 Lakh Cubic Metre (LM3) as against 1,531.33 Lakh Cubic Metre (LM3)
removed in the year 2021-22. The Lignite Production in the year under review was 235.30
Lakh Tonne (LT) as against 251.13 LT during the year 2021-22 while the coal production
achieved was 100.26 LT as against 63.58 LT during the year 2021-22.
The Raw Lignite Sales (RLS) to TAQA, the IPP and direct sales during the year 2022-23
was 12.34 LT & 8.84 LT (including RLS from Barsingsar Lignite Mine), respectively as
against 14.60 LT & 18.44 LT, respectively achieved in the year 2021-22. The Coal sales
from the Talabira Coal Mines during the year under review was 98.97 LT as compared to
63.69 LT during the year 2021-22.
With respect to coal production in Talabira Mines, considering the high demand of coal
especially for power generation, your Company has taken steps to achieve production of
100.26 LT as against the original target of 80.00 LT. Your Company is also taking all out
efforts to augment the Coal production of Talabira Mine during the current year. This will
not only provide fuel security to End Use Plants but also make available coal in the
market. The coal produced is being supplied to one of the End Use Plant viz., NTPL's Plant
at Tuticorin, Tamil Nadu.
Sale of excess Coal
Recent Amendment to Mines and Minerals (Development and Regulation) Act and Mineral
Concession Rules by Ministry of Coal, Govt. of India on 1st October, 2021 has enabled the
Mine for sale of excess Coal after meeting the coal requirement of End Use Plant. Further,
approval has also been granted by MoC for the sale of coal upto 75% of coal production
till 31st March, 2026 after meeting the requirements of End Use plants subject to certain
conditions.
During the year, Coal sale through E-Auction was 7.21 LT.
Productivity
The output per man-shift achieved during the year 2022-23:
Product |
1 |
Unit |
2022-23 |
Lignite |
Tonne |
|
16.53 |
Power |
KwHr |
|
39,532 |
Financial Performance
During the year ended 31st March, 2023, your Company on a Standalone basis had
registered a revenue from operations of Rs.12,955.00 Crore as against Rs.9,856.48 Crore
during the year 2021-22. The Profit Before Tax (PBT) and Profit After Tax (PAT) for the
year 2022-23 were Rs.1,724.15 Crore and Rs.1,248.24 Crore respectively, as against
Rs.2,606.42 Crore and Rs.1,236.78 Crore respectively during the previous year ended 31st
March, 2022.
On a consolidated basis, the total revenue from operations for the year 2022-23 was Rs.
16,165.24 Crore as against Rs.11,947.94 Crore in 2021-22. The consolidated PBT and PAT for
the year 2022-23 were Rs.2,055.79 Crore and Rs. 1,426.10 Crore respectively as against Rs.
2,603.14 Crore and Rs. 1,115.65 Crore respectively in the year 2021-22.
The details of profit earned for the financial year 2022-23 and appropriation of the
same are as follows:
|
|
|
|
(Rs. Crore) |
|
Standalone |
Consolidated |
Particulars |
2022-23 |
2021-22 |
2022-23 |
2021-22 |
Revenue from operations |
12,955.00 |
9,856.48 |
16,165.24 |
11,947.94 |
Profit Before Tax |
1,724.15 |
2,606.42 |
2,055.79 |
2,603.14 |
Tax Provision |
475.91 |
1,369.64 |
630.66 |
1,488.01 |
Profit /(Loss) for the Period (PAT) |
1,248.24 |
1,236.78 |
1,426.10 |
1,115.65 |
Appropriation |
|
|
|
|
Transfer (to) / from Interest Differential Fund Reserve |
(4.33) |
(4.90) |
(4.33) |
(4.90) |
Transfer to PRMA Reserve Fund |
(14.29) |
(1.50) |
(14.29) |
(1.50) |
Transfer to Contingency Reserve |
(10.00) |
(10.00) |
(10.00) |
(10.00) |
Dividend (Interim / Final ) |
(416.00) |
(416.00) |
(416.00) |
(456.92) |
Shareholding of Government of India
The present shareholding of the President of India in the Company is 79.20%.
Dividend
For the year 2022-23, the Board of Directors of your Company had paid an Interim
Dividend of 15% ( Rs. 1.50 Per equity share). Further, your Board has also recommended a
final dividend of 20% ( Rs. 2.00 per equity share) subject to the approval of the
shareholders. The total dividend for the year 2022-23 including Interim Dividend already
paid is 35% and the same works out Rs. 485.32 Crore.
Transfer to Reserve
There is no amount proposed to be transferred to the Reserves.
MOU Parameters
Thirty Six vendors had sought permission to get registered in TReDS Portal and NLCIL
had accepted all the Thirty Six requests and all got registered in TReDS portal. NLCIL
also got registered in TReDS portal to facilitate transaction resulting in 100% acceptance
of Goods and Services through TREDS portal.
The details of projects under implementation are as under:
Mine IA Expansion
This Expansion Project is being implemented to expand Mine IA from 3.0 MTPA to 7.0 MTPA
at a cost Rs. 709.06 Crore. The achieved physical progress is 75.36% and the cumulative
expenditure incurred on this project upto 31st March, 2023 is Rs. 535.75 Crore. In terms
of the notification issued by CERC and as per the accounting policy of the Company, 1st
April, 2022 has been reckoned as date of commencement of commercial operation in respect
of Mine-IA Expansion and expected to attain the normative capacity of 7.0 MTPA by the year
2027-28. Accordingly, the capitalization of Rs. 526.55 Crore including value carried out
from CWIP balances as on 31st March, 2023.
Lignite to Methanol
As a diversification initiative, your Company's initiative to set up the Lignite to
Methanol Project utilizing the lignite from Neyveli Mines at Neyveli with a plant capacity
of 1200 Tonnes per Day (TPD) on Lump Sum Turnkey (LSTK) mode, at an estimated cost of Rs.
4,383 Crore has been approved. Engineers India Limited (EIL) has been appointed as the
Project Management Consultant for this Project. This Project is anticipated to be
completed within 42 months from the zero date. NLCIL has entered into engineering service
agreement with licensor M/s Air Products. Obtaining Environmental clearance for this
project from MoEF & CC is in process. GTE floated for LEPC-1 (Gasification Block) and
for LEPC-2 (Methanol Synthesis Block) and tendering for both the packages is in process.
150 MW Hybrid (Solar+Wind) RE Power Project (SECI)
Your Company had participated in the 1200 MW Wind & Solar Hybrid RfS floated by
SECI for a capacity of 150 MW and emerged as a successful bidder with a quoted tariff of
Rs. 2.34/Unit. LOA has been received from SECI to this effect. NLCIL had participated and
bagged SECI Hybrid Tender for 150 MW (Wind+Solar). NLCIL has submitted Performance Bank
Guarantee (PBG) to SECI and PPA has been signed with SECI. Your Company has floated
tenders for setting up of 50 MW Wind and 100 MW Solar projects on Pan India Basis. Bid
evaluation under process for both tenders.
510 MW solar power project under CPSU scheme
Your Company has emerged as a successful bidder in IREDA CPSU scheme tender for setting
up 510 MW solar power project. The Project is being executed in 3 phases of 300 MW in
Rajasthan, 200 MW on Pan India Basis and 10 MW Neyveli for Smart City. Your Company has
issued LoA to M/s Tata Power Solar Systems Limited (TPSSL) for 300 MW Solar Power Project
at Barsingsar. Consent from Beneficiary (M/s RUVNL) was received for 300 MW. For remaining
200 MW, tendering under process. Telangana State DISCOM conveyed their consent for usage
of 200 MW power at a tariff Rs. 2.57/unit.
Ground Mounted Solar Power Project (10 MW) at Neyveli sanctioned at a cost of Rs.42.94
Crore is in line with the criteria prescribed by Ministry of Housing and Urban
Development, Nodal Ministry for smart cities being declared as "Mini Smart
City". 10 MW solar panels were synchronised with grid.
NLC Talabira Thermal Power Project (3 X 800 MW)
NLC Talabira Thermal Power Project (NTTPP), a coal based thermal power project of
capacity 2,400MW with three units of 800 MW capacity each, is proposed to be set up at
Jharsuguda & Sambalpur District in the State of Odisha, linked to the allocated
captive mine Talabira II & III OCP at a total estimated project cost of Rs.19,422
Crore. The proposed plant will be of state of the art Ultra Super-critical technology,
compliant with latest emission norms. All statutory approvals for setting up the project
including the Environmental Clearance have already been obtained. Power Purchase Agreement
for the off-take of 2,000MW power from this project has already been signed with TANGEDCO
(for 1,500MW), Puducherry Discom (for 100MW) and KSEB Kerala (for 400MW). Signing of PPA
with GRIDCO Odisha (for 400MW) is expected shortly. The EPC Notice Inviting Tender for the
project has been floated and techno-commercial bids opened and QR evaluation completed.
The first Unit of the project is scheduled to be commissioned in 52 months from the date
of award of the EPC Contract and the other units with a phase shift of 6 months each. The
land acquisition for the project is in progress.
Thermal Power Station II 2nd Expansion (2 X 660 MW)
Thermal Power Station II 2nd Expansion (TPS II SE) is a lignite based thermal power
plant of capacity 1,320 MW with two units of 660 MW capacity each, proposed to be set up
at Mudanai village (near Neyveli), Cuddalore District, Tamil Nadu which is linked to
Lignite Mines of Neyveli. Similar to NTTPP, this project is also proposed to be set up
based on the state of the art Ultra Super-critical technology, compliant with latest
emission norms. All necessary approvals for setting up the project including the
Environmental Clearance have already been obtained. TANGEDCO has expressed their
willingness to procure the entire 1,320 MW from this proposed project. However, MoP has
allocated 1,081.69 MW to TANGEDCO and 40.31 MW to PED. Land for the project is already in
possession of your Company. Consent to Establish is also available. The first unit of the
project is scheduled to be commissioned in 50 months from the date of award of the
Contract and the second unit with a phase shift of 6 months.
Overburden (OB) to M-Sand
Your Company's in-house research centre, CARD had earlier undertaken a research project
jointly with IIT/Madras for conversion of OB materials into aggregates and the preliminary
study indicated that OB materials contain 40% to 70% sand & considerable quantity of
clay. Board of Directors of your Company has approved setting up of M-Sand Beneficiation
Plants at Neyveli for producing M-Sand from each Mine under Build, Own & Operate (BOO)
Model based on the detailed feasibility report and financial appraisal report at an
estimated capital expenditure of Rs.180 Lakh. Order issued for Mine-IA on 31st March, 2023
for setting up of M-Sand Plant of 0.42 MTPA Capacity and is expected to commence operation
by January, 2024. Mine-I M-Sand Plant tendering is under process.
Neyveli Uttar Pradesh Power Limited (NUPPL) - A Joint Venture between NLCIL &
UPRVUNL-Ghatampur Thermal Power
Revised cost estimate (RCE) of Rs.19,406.13 Crore for the project has been approved by
MoC. PPA has been signed with Assam in line with MoP power allocation. Project progress is
affected due to slow progress of works in Balance of Plant (BOP) package (GA3) and because
of lockdown due to COVID-19 resulting in shortage of manpower at site, delay in supplies
and diversion of oxygen cylinders from site to hospitals etc. and disturbances in GA3
package related supply chain.
Pachwara South Coal Block (09 MTPA)
The Mining plan & Mine Closure plan of PSCB has been approved by MoC. NUPPL Board
has accorded approval for the Feasibility & Bankability Report of PSCB and the same
has been submitted to MoC for further approval from Public Investment Promotion Board
(PIB). Environmental Clearances, Forest Clearances, Land Acquisition for coal evacuation
route of PSCB and development of Rail Infrastructure for Coal Evacuation is under
progress.
Mine III
The project with a capacity of 11.50 MTPA encompassing a project area of 3,893 Ha is
proposed to be commissioned to fuel the requirement of TPS II 2nd Expansion at an
estimated cost of Rs.3,755.71 Crore. The block has a mineable reserve of 415 MT. The
process for obtaining all necessary approvals for commencement of mining project is in
progress. The project is expected to commence its operations by 2027. Revised Mining Plan
(MP) as per the revised guidelines is under approval. Administrative approval from GoTN
for Land Acquisition is in process.
Consultancy Services for developing Coal Block
Your Company has been awarded a work order for providing consultancy services to Uttar
Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) for selection of MDO, supervision
& monitoring of exploration and other site activities for its Saharpur Jamarpani Coal
Block in Jharkhand.
The details of projects under formulation are as under:
Green Energy
Considering the thrust being given by the Government of India (GoI) for green energy
and competitive market of renewable energy, together with the tax benefits available to
new manufacturing companies and with the focus shifting towards cleaner sources of power
and the Government setting a target of 450 GW of Renewable Energy (RE) capacity by 2030,
your Company has also exploring RE business as its next pillar of growth. Your Company has
prepared its business plans to tap this opportunity appropriately while continuing work on
operating its thermal fleet efficiently, economically and reliably to meet the growing
energy needs of the country.
Commercial Mining
Recently GOI has launched the auction process for commercial mining of various coal
blocks across the Country. As Members may be aware that GOI with a view to increase the
coal production has removed various restrictions including the end use criterion. It is
expected that the demand for coal would continue to be in existence and the total demand
for Non-Coking Coal is forecasted at 1,331 MT by the year 2047. As part of its growth
plan, based on the exploration status, geological reserves, topographical features,
tentative ratio, local issues and other relevant data, your Company has short-listed three
coal blocks namely Machhakata (revised) in Talcher coalfield, Angul district of Odisha,
North Dhadhu (eastern part) and North Dhadu (western part) in north Karanpura coalfield,
Lathehar district of Jharkhand for commercial mining. Out of the three coal blocks, Your
Company won the bid for North Dhadu (Western Part) Coal Mine in Latehar District of
Jharkhand @ 6% revenue sharing. The coal mine forms part of the North Karanpura coal field
and it is having an area of 5.33 sq. km. It is fully explored having a geological reserve
of 435 MT of G12 grade. Tentative capacity of the coal mine is 3 MTPA. The coal will be
sold to the potential consumers located in the states of Uttar Pradesh, Bihar and
Jharkand.
Mining Projects
Your Company is presently operating three opencast lignite Mines at Neyveli in the
State of Tamil Nadu and one opencast lignite Mine at Barsingsar in the State of Rajasthan.
The total mining capacity of all the lignite Mines is 30.10 MTPA. Your Company has also
started Coal mining operations in Talabira II & III Opencast Coal Mines at Odisha,
with a mining capacity of 20.0 MTPA, from 26th April, 2020. Thus, the total mining
capacity of your Company has increased to 50.10 MTPA.
In the Coal Sector, presently your Company operates an open cast coal mine of capacity
20 MTPA at Talabira, in the State of Odisha and through NUPPL, its Subsidiary, your
Company is developing the Pachwara South Coal Block in the State of Jharkhand, with a
capacity of 9 MTPA. Your Company has intended to enter into commercial mining of coal,
with a planned addition of 15 MT, thereby envisaging an aggregate mining capacity of 44
MTPA in the Coal Sector.
Total CAPEX projected for FY 2023-30 for the mining projects is Rs. 8,351 Crore.
Power Generation Projects
Your Company is currently operating five lignite based thermal power stations, four at
Neyveli, in Tamil Nadu and one at Barsingsar, in Rajasthan, with an aggregate capacity of
3,640 MW. Your Company through NTPL, the Subsidiary, is operating one coal based thermal
power plant of 1,000 MW (2 X 500 MW) capacity. On implementation of two Coal based Thermal
Power Projects viz GTPP (NUPPL) of capacity 1,980 MW (3X660 MW) and Talabira Thermal Power
Project (Phase I & II) of capacity 3,200 MW (4 X 800 MW) and lignite based Thermal
Power Project TPS II 2nd Expansion of capacity 1,320 MW (2X660 MW), the power generation
capacity would reach 11,140 MW. The Projected CAPEX for the Thermal Energy is Rs. 46,023
Crore. On Renewable front, by 2030, NLCIL plans to increase its capacity from 1,421 MW to
6,031 MW by implementing various Solar & Wind Projects. The Projected CAPEX for
Renewable Energy is Rs.23,403 Crore.
Diversification Projects:
NLCIL has adopted the diversification strategy and has ventured into implementation of
OB to M-Sand, Lignite to Methanol, Battery storage & Green Hydrogen. Further, EV
Charging stations, Lignite to diesel, IGCC Technology projects are being taken up on Pilot
Scale under Clean Energy. MoU signed with WAPCOS on 27th May, 2023, for the purpose of
carrying out collaborative technical services and advisories for development of various
schemes of Pumped storage, Reservoirs/Storage, Run of River Hydro-Power Projects in India.
The total capital expenditure for mining, power generation and diversification
businesses has been projected to be Rs.82,174 Crore during FY 2023-30.
NLC Tamil Nadu Power Limited (NTPL) - A Joint Venture between NLCIL and TANGEDCO
Tuticorin Power Plant (1000 MW) in Tamil Nadu
As Members may be aware that NTPL, the Subsidiary Company is operating a 1,000 MW coal
based thermal power plant in Tuticorin in the State of Tamil Nadu. During the year
2022-23, the total Power Generation (Gross) of NTPL was 5,929.99 MU (excluding power
surrender) as against 4,182.46 MU registered in the year 2021-22.
During the year ended 31st March, 2023, NTPL registered a revenue from operations of
Rs. 3,502.78 Crore as against Rs.2,221.60 Crore registered in the year 2021-22. The Profit
Before Tax & Profit After Tax for the year 2022-23 were Rs.433.08 Crore and Rs. 278.65
Crore respectively as against Rs. 329.65 Crore and Rs. 211.28 Crore registered in the year
2021-22. Interim Dividend of Rs.0.50 (5%) per equity share was declared by NTPL Board for
the FY 2022-23 and the same was paid on 01st December, 2022.
Neyveli Uttar Pradesh Power Limited (NUPPL) - A Joint Venture between NLCIL &
UPRVUNL Ghatampur Thermal Power Project (GTPP) (1,980 MW) linked to Pachwara South Coal
Block (9.0 MTPA) in Jharkhand
NUPPL, the Subsidiary Company is implementing the 3 x 660 MW Ghatampur Coal based
Thermal Power Project (GTPP) at Ghatampur Tehsil, Kanpur Nagar District in the State of
Uttar Pradesh at a project cost of Rs. 17,237.80 Crore. The revised project cost of Rs.
19,406.12 Crore has been approved by Ministry of Coal, Gol. As per the present progress of
the project, project is expected to be commissioned during FY 2023-24. The delay in
execution of the Project was mainly due to the slow progress of works in Balance of Plant
(BOP) Package (GA3), as the Package Contractor M/s. BGRSE is under financial stress.
Further, because of lockdown during the period of Covid-19 pandemic, Inter-State Migrant
Labours (ISML) returned to their native places besides the inadequacy of skilled man power
and disturbances in supply chains distributions during that period contributed to the
delay in the progress of the project.
This project is being monitored by MoC and at the apex level by the Office of Prime
Minister and is considered as the signature project. The Board of NUPPL is taking all
necessary steps to expedite the implementation of the Project. NUPPL has signed a Power
Purchase Agreement (PPA) with Uttar Pradesh Power Corporation Limited (UPPCL) for
supplying 75% of the Power from the plant. In line with the revised power allocation by
Ministry of Power, Gol, PPA for 492.72 MW power (24.88%) has been signed with APDCL on
13th June, 2023.
The coal supply for the GTPP is linked to Pachwara South Coal Block (PSCB) which is in
advance stage of obtaining necessary clearances/approvals for commencement of mining
operations. Based on the Company's request, CEA had recommended Coal India Limited (CIL)
to supply 0.99 MT (0.33 MT for each unit) coal to GTPP to facilitate commissioning
activities, trial run & achieving COD etc. The remaining quantity of Coal is expected
to be supplied from the Talabira II & III OCP Mine belonging to your Company till
commencement of operation of PSCB. Standing Linkage Committee (Long-Term) on 16th June,
2023, recommended bridge linkage of 2.64 MT operational coal for FY 2023-24 from Coal
India Limited.
The project has achieved a CAPEX of Rs. 1,510.76 Crore in the year 2022-23. The
cumulative expenditure incurred since inception up to 31st March, 2023 is Rs. 14,871.83
Crore.
Pachwara South Coal Block (9.0 MTPA) in Jharkhand
NUPPL has been allotted Pachwara South Coal Block (PSCB), in the State of Jharkhand,
with a capacity of 9.0 MTPA (Normative) & 13.50 MTPA (Peak), at an estimated cost of
Rs. 1,795.01 Crore. In order to develop and operate the above Coal Block, MIPL GCL Infra
contract Private Limited has been appointed as the Mine Developer Operator (MDO).
Geological Report (GR), Mining Plan & Mine Closure Plan have been approved by MoC.
Final EIA/EMP report along with application for EC has been uploaded at PARIVESH portal of
MoEF&CC. Environmental Advisory Committee (EAC) has recommended for a grant of
Environmental Clearance in the meeting held on 21st July, 2023. Proposal for Stage-I
Forest Clearance has been forwarded to MoEF & CC by the Government of Jharkhand. The
coal block was allocated under Coal Mines Special Provisions Act and accordingly MoC
issued a notification u/s 19 (1) of Coal Bearing Areas (Acquisition and Development) Act,
1957 for land acquisition. For Land acquisition proposal for R&R Colony, Coal
evacuation route and Administrative Office/Township etc., Sec 11(1) notification under
Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and
Resettlement Act, 2013 has been issued by District Authority, Dumka, Jharkhand on 19th
July, 2023. The Project has achieved a CAPEX of Rs. 4.22 Crore in the year 2022-23. The
cumulative expenditure incurred up to 31st March, 2023 was Rs. 43.50 Crore.
Coal Lignite Urja Vikas Private Limited (CLUVPL) - A Joint Venture Company between
NLCIL & CIL
Your Company had entered into a Joint Venture Agreement with Coal India Limited (CIL)
to implement conventional and non-conventional power projects by forming a JV Company with
an equity participation of 50% each. The JV Company "Coal Lignite Urja Vikas Private
Ltd" was incorporated on 10th November 2020.
The JV Company has been awarded the Project Management Consultancy Contract by South
Eastern Coalfields Limited (SECL) for developing 40 MW Solar Power Project at Bishrampur
and Bhatgaon locations of SECL in the State of Chhattisgarh. Presently the project
activities are in progress.
MNH Shakti Limited
Mahanadi Coalfields Limited, your Company and Hindalco jointly formed MNH Shakti
Limited with an equity participation of 70:15:15 to implement 20.0 MTPA Coal Mining
Project in Talabira, in the State of Odisha. The Talabira II & III Coal Blocks
allocated for this purpose have been cancelled pursuant to the judgement of Hon'ble
Supreme Court of India and the Coal Mines (Special Provisions) Ordinance, 2014. The JV
Company has been proposed for winding up and necessary formalities are underway. In the
meantime, MNH Shakti Limited with the approval of its shareholders has reduced its Paid-up
Equity Share Capital from Rs.85.10 Crore to Rs.35.10 Crore by way of cancellation of five
Crore equity shares of Rs.10/- each aggregating to Rs.50 Crore and the said amount has
been returned to the JV Partners in accordance to their shareholding in the JV Company.
NLC India Renewables Limited (NIRL)
Your Company has incorporated NLC India Renewables Limited (NIRL), as its wholly owned
subsidiary on 14th June, 2023 to take over the existing renewable assets of your Company
In this regard, your Company plans to consolidate almost all its Renewables Assets
under its Asset Monetization plan. After identifying the Renewables Assets, the Company
will apply for the requisite approvals from the Government and other statutory bodies.
After receiving the requisite approvals, your Company will process the transferring of RE
assets to the new Company. NITI Aayog has not given any specific target for Asset
Monetization for the year 2022-23.
Details of loans and investments covered under the provisions of Section 186 of the
Companies Act, 2013 forms part of the Financial Statements.
Deposits Rs. Rs.B Rs.
The Company has not accepted any deposits from the public during the year.
During the financial year 2022-23, your Company has not issued any Bonds.
Commercial Paper
During the financial year 2022-23, due to better fund management, sales bill
discounting and increase in realisation has improved the liquidity position of the Company
and hence, the Company has not issued any commercial paper.
Sales Bill Discounting
During the financial year 2022-23, your Company has offered the Sales Bills Discounting
facility available in the Banking System with recourse to your Company and the power bills
issued were discounted by DISCOMs. The total value of sales bills discounted during the
year under review was Rs. 3,448.69 Crore. During the year under review, there were no
instances of bankers sending the bills to the Company for meeting the obligations since
the DISCOMs have honoured their commitments to the Bankers on the due date.
Credit Rating for Borrowings
During the year, your Company has retained AAA rating for Long Term Borrowings
including Issue of Bonds and A1+ for issue of Commercial Papers from Credit Rating
Agencies. The present ratings are given below:
L Rating Agency / Particulars |
|
Rating Assigned |
i ICRA |
|
|
Non-Convertible Debentures - Secured |
Rs. 2,000 Crore |
ICRA AAA/Stable |
2 CRISIL |
|
|
Working Capital Loan |
Rs. 5,000 Crore |
CRISIL AAA/Stable |
on-Convertible ebentures (Issued ar ount- Rs.2,175) |
Rs. 3,000 Crore |
CRISIL AAA/Stable |
Proposed Term Loan |
Rs. 1,695 Crore |
CRISIL AAA/Stable |
3 CARE Ratings |
|
|
Solar 500 MW |
Rs. 512.31 Crore |
CARE AAA; Stable |
NNTPS 1000 MW |
Rs. 2,100 Crore |
CARE AAA; Stable |
Commercial Paper |
Rs. 6,000 Crore |
CARE A1 + |
4 India Rating (Fitch Group) |
|
|
Solar 709 MW |
Rs. 1,681 Crore |
IND AAA/Stable |
Non-Convertible Debentures - Secured |
Rs. 2,000 Crore |
IND AAA/Stable |
Non-Convertible Debentures - Unsecured |
Rs. 2,175 Crore |
IND AAA/Stable |
Commercial Paper |
Rs. 6,000 Crore |
IND A1 + |
T] Infomerics Ratings |
|
|
Talabira Mine |
Rs. 1,428.51 Crore |
IVR AAA/Stable |
6 Acuite Ratings & Research |
Rs. 1,000 Crore |
ACUITE AAA/Stable |
Power Dues Realisation:
• During the year under review, your Company had received an amount of Rs.
7,138.89 Crore out of the total billed value of Rs. 7,990.73 Crore for the FY 2022-23. In
case of NTPL, total amount realized was Rs. 3,220.74 Crore against billed value of Rs.
3,495.70 Crore. Collection efficiency of the Company as a whole stood at 90.19%.
• The outstanding power dues including for the month of March, 2023 invoices as on
31st March, 2023 is Rs. 4,794 Crore as against Rs. 3,958 Crore for the corresponding
period of the year ended 31st March, 2022. The increase in the outstanding dues is mainly
on account of debit notes raised towards various tariff orders issued by CERC, which will
be realized in instalments and debits notes issued for amount recoverable from DISCOMs
towards Income Tax settled under Vivad Se Vishwas Scheme. The dues beyond the 45 days
limit as on 31st March, 2023 is Rs. 3,544 Crore as against Rs. 2,675 Crore for the
corresponding period of the previous year ended 31st March, 2022.
• During the year under review, MoP had notified the late payment surcharge rules
on 3rd June, 2022 in which provision was made for liquidation of overdues prior to 3rd
June, 2022 through installment plan. Subsequently, DISCOMs availed the instalment scheme
for old dues to the tune of Rs. 982.21 Crore. Also, the current bills are being settled by
the DISCOMs in a timely manner.
• Further, the DISCOMs were encouraged & persuaded to avail Bill Discounting
Scheme to liquidate their dues, which resulted in the realization of dues to the tune of
Rs. 3,448.69 Crore through bill discounting from the DISCOMs.
Power Trading in Power Exchange
• During the year 2022-23, 220.70 MU of Un-Requisitioned Surplus (URS) power was
sold from NLCIL thermal power stations in different market segments of Power Exchange
leading to a gross revenue addition of Rs. 94.64 Crore. As per the CERC IEGC Regulation
& MoP Electricity (Late Payment Surcharge and Related Matters) Rules 2022, gains
earned from sale of such URS power is being shared with the beneficiaries.
• Whenever opportunity arises, NLCIL is continuously trading surrendered power
from its thermal stations in Day Ahead Market (DAM) & Real Time Market (RTM) segments
of Indian Energy Exchange (IEX) based on availability of surplus lignite & technical
capabilities of thermal stations.
• NLCIL has also traded 138.65 MU of power in FY 2022-23 as against 91.23 MU in
the year 2021-22 under Trading License which includes sale & purchase of power for
various grid connected entities.
• Power Trading agreements were signed with three new clients for buying power
from IEX through NLCIL during the period 2022-23.
Regulatory affairs
• During the year 2022-23, CERC has issued Truing up orders 2014-19 and Tariff
orders 2019-24 for all the Thermal plants except BTPS and NNTPS. Also, Commission has
issued wage revision order for increase in O&M expenses for control period 2014-19.
Truing up Orders of Lignite Transfer Price for 2014-19 pertaining to Neyveli Mines and
Barsingsar Mines have also been issued.
• Your Company has filed Review Petitions before Hon'ble Commission against
Lignite Truing up Orders of 2014-19 and Hon'ble Commission has admitted the Review
Petition for additional capitalization, wage revision and inclusion of stores component
and has kept aside the review of pooled O&M expenses citing that the same will be
dealt based on outcome of APTEL for similar issue for the period 2009-14 in respect of
Neyveli mines. Company has also filed Review Petition before Hon'ble Commission in respect
of Lignite Transfer Price Truing Up Order 2014-19 and Hon'ble Commission has admitted the
petition for review of additional capitalization and inclusion of stores component for
Barsingsar Mines.
• For expeditious resolution of truing up of pooled O&M expenses of Neyveli
Mines for 2009-14, your Company has filed for short-course hearing at APTEL, which has
been admitted. Hearing will be scheduled in due course.
• The Input Price petitions for NLCIL Neyveli Lignite Mines, Barsingsar Lignite
Mines for the period 2019-24 and Talabira Coal Mines for the period 2021-24 have been
filed before CERC.
Your Company practices and promotes the best Environment Management Plan (EMP) since
its inception and is committed to environment friendly mining and power generation. The
environment policy of your Company is in line with the Vision and Mission Statement.
Ministry of Coal has constituted an Apex Committee with Additional Secretary/ MoC as
its Chairman to monitor the compliance of Environmental Clearance (EC) and Forest
Clearance (FC) conditions in Lignite / Coal Mines. In this connection, your Company has
constituted Environmental Monitoring Committees at Head Quarter (HQ) level and Area level
as per the guidelines of Ministry of Coal for the above monitoring purposes.
Your Company continued to undertake mass tree plantations during the year for the
benefits of slope stabilisation of the Mines Overburden dumps in order to convert the Mine
soil into cultivable soil making it fit for habitation. The Company started investing in
Eco-care since its inception leading to a development of a lush habitat which has been
converted into Eco-parks & Eco tourism locations. The greenbelt developed also acts as
barrier to arrest the air pollution and prevents soil erosion besides Sequestration of CO2
in the atmosphere.
The units have installed dust suppression mechanisms such as water sprinklers, spray
guns, Fog Cannons etc. to control the fugitive dust. The Ambient Air Quality (AAQ) is
being monitored regularly in the surrounding villages and is well within the prescribed
norms.
Consequent to the Amendments of Environment (Protection) Act, 1986, the norms for water
consumption and emissions from Power Plants [Particulate Matter (PM 2.5 & PM10),
Sulphur dioxide (SO2), Oxides of Nitrogen (NOx) & Mercury (Hg)] have been made
stringent for the existing as well as new Thermal Power Plants. In this regard,
installation of Flue Gas De-sulphurisation (FGD) Systems is in progress.
As a result of continued environmental management measures undertaken, your Company has
received many awards for maintaining better environmental management practices. The lists
of such awards received during the year 2022-23 are as under:
> Greentech Intl. EHS award supported by MoEF & CC - Winner for outstanding
achievements in Environment Leadership.
> Grow Care India Environment Excellence Platinum Award 2021- under Environment
Preservation Category.
> Fly Ash Utilization Award 2022- For efficient management of Fly ash management in
NLCIL (Southern Region) by Mission Energy Foundation.
> TPS II conferred as Winner under "Best Performing Unit" presented by
National Power Plant Awards -2023 - Council of Enviro Excellence (CEE)
> BTPS has been awarded with "Gold Award" for 13th Exceed Occupational
Health Safety Award & conference 2022 in Power Sector for FY 2022-23
> BTPS bagged Winner prize for 100% Fly Ash Utilization Award by Mission Energy
Foundation during FY 2022-23.
> Barsingsar project was selected as Winner under Leading Project of the year
category for green-tech Intl Leadership Award 2023 in FY 2022-23.
> BTPS won Excellence Awards from Mission Energy Foundation under the "Clean
Generator of the Year - Lignite" & "Excellence in implementation of new
Environmental Norms existing TPPs"
> Mine II bagged Green Tech Environment Award 2023 Winner under Environmental
Preservation category.
> NNTPS bagged the prestigious award of "Winner - Southern Region" for
Excellence in Environment Sustainability 2022 as the best efficient plant in IPP - Fly Ash
Utilization category organized by Council of Enviro Excellence (CEE) in the virtual event
held on 18th August, 2022.
> NNTPS bagged "Green Leaf Award-2021" for Environment Excellence from
Apex India Foundation on 5th May, 2022.
During the year, your Company had taken Mega Insurance Policy for the Assets and Stocks
of Production Units viz. Mines, Thermals & Renewable Energy (RE). It broadly covers,
Material damage (MD) of all Mine assets and Material damage (MD), Machinery Breakdown
(MBD), Fire Loss of Profit (FLOP) & Machinery Loss of Profit (MLOP) of all Thermal
& RE assets. Assets of Service units are covered under Standard Fire and Special Peril
Policy (SFSP) which also cover Electronic Equipment Insurance (EEI), Transit Insurance,
Public Liability Industrial Risk Insurance.
The extensive land requirement for continuous mining necessitates invoking the law for
the acquisition of private property leading to involuntary displacement of people. Your
Company is sensitive to the painful involuntary relocation of displaced families and
strives to minimize the trauma of such displacement besides continuously and consciously
balance the techno economic and the socio-economic goals of its projects. Your Company is
following sustainable Land Acquisition policies as per the approved norms and regulations
issued by Central and concerned State Government from time to time.
The law applicable for the acquisition of lands for the projects in the State of Tamil
Nadu has been changed from the Central Act 1 of 1894 to the Tamil Nadu Acquisition of
Lands for Industrial Purposes Act,1997 (TN Act 10 of 1999) with effect from 20th
September, 2001.
Your Company has been following the National Policy on Rehabilitation and Resettlement,
2007 for the benefit of the Project Affected Population, for lands acquired upto 31st
December, 2013. The Provisions for compensation and R&R as per Schedule-I, II &
III of "Right to Fair Compensation and Transparency in Land Acquisition
Rehabilitation and Resettlement Act - 2013" (RFCTLARR) are applicable since 1st
January, 2014 to your Company. A revised R&R policy was unveiled by the Hon'ble
Minister for Coal on 17th January, 2022 and as per this policy in addition to the monetary
benefits as per the provisions of Schedule-II of RFCTLARR Act, the settlers on Govt. lands
are also covered for some more benefits besides providing alternate house sites, annuity
or onetime grant in lieu of employment. Your Company has diligently revised its
Rehabilitation and Resettlement (R&R) policy in November, 2022 once again to offer
enhanced benefits to the project-affected families, surpassing the provisions stipulated
in the RFCTLARR Act, 2013 in light of the difficulties faced in land acquisition.
Your Company takes good care of the Project Affected Persons (PAPs) through R&R
Policy measures thereby minimizing the trauma of displacement. The guidelines issued by
the Government of India, from time to time on R&R for the on-going projects are being
duly complied with. Your Company develops the Re-settlement Centres (RCs) and also
provides good infrastructure facilities thereby helping the affected families to re-settle
in the RCs. In addition to this, legal compensation is also being paid with the
co-operation of the District Administration.
Centre for Applied Research & Development (CARD) is the in-house R&D Centre of
the Company and has been recognized by the Department of Science & Technology. CARD
has been granted NABL accreditation by National Accreditation Board for Testing and
Calibration Laboratories (NABL) based on the international standard ISO/IEC 17025:2017.
The major functions of CARD include:
1. Carrying out Science & Technology (S&T) Research Projects,
2. Technology development, patenting and commercialization based on the R&D and
Pilot Plant outcome, Coordinating for S&T Projects undertaken by the Company,
institutional services to students, special studies for operation & new schemes and
new initiatives etc.
3. R&D works on lignite utilization, diversification, product development,
by-product utilization, solid waste management, wasteland reclamation, Renewable energy,
Clean Coal Technologies, introduction of real time monitoring facilities etc.
4. Environmental monitoring, Pollution level measurements, Quality control Testing
& Consultancy, Technical services.
5. Rendering analytical services towards quality control of various products/materials
used in mines, Power stations and other service units as well as outside agencies on
chargeable basis.
CARD has successfully developed the following pilot plants based on the outcome of the
R&D studies:
1. Humic Acid
2. Separation of Iron particles from bottom slag
3. Extraction of sand from Mines overburden
4. Biofertilizer
5. Zeolite
6. Solar Drying of Lignite
7. Activated Carbon from Lignite
8. Floating Solar as a part of Business Diversification Plan.
As per the action plan announced in the CPSE-PM Conclave for "Vision New India
2022", your Company has initiated action for setting up Innovation Incubation Centre
(IIC) in association with Indian Institute of Science (IISc) and with Anna University, at
a total outlay of Rs. 9.39 Crore. In the first wave, six tri-party agreement has been
signed between innovators, NLCIL and respective institutions. Execution of 1st wave
prototype project works are in progress. In the second wave, Evaluation of Proof of
Concept to take up the projects to prototype scale is in progress. In the third wave,
shortlisting of PoC proposals is in progress.
The total R&D expenditure, incurred as a group during the year 2022-23 was Rs.
26.98 Crore.
Your Company believes in its human assets who are the key performers driving the
Company's growth. Your Company provides a conducive working environment to its employees
wherein they deliver their best potential.
Your Company strongly believes that the pursuit of excellence can be achieved only
through competency building, encouraging good work practices and enabling a learning
culture. Learning and Development Centre (L&DC) continuously strives to harness the
in-house talents by focusing on areas like emerging technology, environmental
consciousness, structured on boarding and mentoring using varied modalities and blended
learning opportunities.
Apprenticeship training being provided as per guidelines of the Regional Director of
Apprenticeship Training, Chennai (RDAT) and the Board of Apprenticeship Training (BOAT) of
Southern Region, Chennai.
Your Company continued its faith in participative management and has a regular system
of holding bipartite structured meetings with the Recognised Unions (collective bargaining
agents) / Associations in addressing the common issues of the employees. The significant
events of IR department during FY 2022-23 are as below:
1. Awards and Recognition
NLCIL has bagged "The Best Organisation Proactive IR Practice Award 2022" by
the Southern India Chamber of Commerce and Industry (SICCI) for implementing the best IR
practices at the National IR Conference and IR Awards 2022 on 17th December, 2022.
2. Regularisation of 427 Contract Workmen
ln accordance with the settlement under sec.12(3) of the ID Act, 1947 entered into
between the Contractor Employers and trade union representing contract workmen in the
presence of NLCIL Management, 427 numbers of contract workmen have been regularised in
NLCIL rolls.
3. Issuance of Stitched Uniform to Contract Workmen
In accordance with the settlement under Sec. 12 (3) of the ID Act, 1947 entered into
between the Contractor Employers and trade union representing contract workmen in the
presence of NLCIL Management, it was agreed to provide two sets of stitched uniform to the
contract workmen engaged through the private Contract Employer. Accordingly, two sets of
stitched uniform issued to around 10,500 contract workmen during FY 2022-23.
In General, Industrial Relations scenario in NLCIL was normal and no man hour lost
during the financial year 2022-23.
The total employee strength (including subsidiaries) stood at 10,781 as on 31st March,
2023 as against 11,246 as on 31st March 2022.
Reservation of Posts
Your Company scrupulously follows the reservation policy applicable to SCs, STs and
OBCs as prescribed in the presidential directives / GOI Guidelines. The group-wise
representation of SC/ST/OBC as on 31st March, 2023 stands as follows:
|
|
|
Strength of SC/ST/OBC |
|
|
% of SC/ST/OBC |
|
Group |
lotai Strength |
SC |
ST |
OBC |
SC |
ST |
OBC |
A |
3073 |
656 |
305 |
581 |
21.35 |
9.93 |
18.91* |
B |
223 |
44 |
9 |
75 |
19.73 |
4.04 |
33.63 |
C |
5974 |
1170 |
67 |
2166 |
19.58 |
1.12 |
36.26 |
D |
1511 |
391 |
5 |
875 |
25.88 |
0.33 |
57.91 |
Total |
10781 |
2261 |
386 |
3697 |
20.97 |
3.58 |
34.29 |
*strength of OBCs on rolls of NLCIL after reservation for OBCs came into effect w.e.f
8th September, 1993.
However more than required percentage of employees (covered in the Central list of OBC
category) have been recruited on the strength of BC category prior to reservation for OBCs
came to effect and continue to be on the rolls of the Company.
Educational facilities
Your Company is presently running 9 Schools with student strength of 4,647 nos. The
schools admit children coming from peripheral villages, wards of employees, contract
employees, daily wages workmen and others from economically weaker sections of society.
Scholarship Schemes and Tuition Fee Concession
Your Company provides educational assistance(scholarships) to the wards of employees
belonging to General, SC/ ST, OBC category and wards of Contract Workmen for pursuing
higher studies (under graduate degree / diploma / professional courses) till the duration
of the course subject to a maximum of five years.
Educational Assistance |
Beneficiaries during AY 2022-23 |
Amount Disbursed |
General |
333 |
R 32.08 Lakh |
SC/ST |
306 |
R 35.22 Lakh |
OBC |
552 |
R 63.10 Lakh |
Total |
1191 |
R 130.40 Lakh |
Besides these schemes, NLCIL presents cash award to meritorious wards of employees
secured 80% & above in CBSE and 90% & above in State Board 10th & 12th Std.
exams.
In addition to the above, your Company reimburses the tuition fees every year (ranging
from R15,440/- to R43,350/- per annum) for students belonging to SC/ST/ OBC category
(predominantly hailing from the surrounding villages of NLCIL projects) studying in
Jawahar Science College, Neyveli, patronised by your Company.
Category of students |
Beneficiaries during AY 2022-23 |
Amount sanctioned |
SC/ST |
399 |
R 108.86 Lakh |
OBC (wards of Non-NLCIL employees) |
924 |
R 261.32 Lakh |
Total |
1323 |
R 370.18 Lakh |
Medical Facilities
The Company's health care model for protecting, preserving and promoting the health and
wellbeing of workforce is a time tested one with proven results. The Company which
believes that healthy workforce is the key driver of its economic well being is supporting
a sustainable health care model since instituting the Hospital in 1962. NLCIL Hospital - a
secondary level medical facility with a bed capacity of 350 provides the following medical
care facilities/ services to the villages in and around Neyveli:
• Emergency care linked with Advanced Life Support ambulance services for
inter-facility transfer of critically ill patients to higher centres. High End Cardiac
Centre with State-of-the-art "Cath Lab Facility" which was established in
collaboration with Shri Kauvery Medical care (India) Ltd., Trichy at NLC India Hospital,
Neyveli was inaugurated on 22nd December, 2022. The centre is equipped to handle all
medical emergencies with 25 bedded Cardiac facility. Procedures like coronary angiogram,
Emergency and elective coronary Peripheral Angioplasty, pace maker implantation and other
procedures can be carried out in this centre.
• 8 bedded emergency unit equipped with centralized oxygen and suction lines, bed
monitors, devices and mini operation theatre is capable of handling all emergencies
including trauma and industrial accidents.
• Emergency care service is provided on 24 X7 basis. Patients are treated in
various specialties that include General Medicine, General Surgery, Obstetrics &
Gynaecology, Paediatrics, Orthopaedics, Ophthalmology, ENT, Dermatology, Chest Medicine,
Psychiatry, Dental and Ayurveda Services.
• Out Patient Department (OPD) service is well supported by diagnostic facilities,
pharmacy and other therapy.
• Two Renal Care Units (RCU) - RCU I run by the Company and RCU II through an
outsourced facility, with a combined capacity of 28 beds provide haemodialysis service to
chronic kidney disease patients.
• Surgical care services in General Surgery, Ophthalmology, ENT, Orthopaedics,
Obstetrics & Gynaecology and Dental leveraging the two state of the art Theatre
Complexes adequately staffed with anesthesiologists, OT Nurses and OT Technicians to
support all major surgeries at secondary level.
In coordination with State health dept, the following were implemented for the benefit
of the general public:
• Family Welfare Services for achieving fertility control among the local
population.
• Universal Immunization programme for protecting children and adults against all
infectious diseases.
• Integrated Counselling and Testing, Treatment facilities for HIV infected
patients.
• Revised National Tuberculosis programme for prevention and treatment of TB among
the local population.
• National Leprosy Control Programme for early detection and treatment of leprosy
among local population.
• Occupational Health services that monitor health and wellbeing of workforce
through medical surveillance programme.
• Community Health camps to reach out to rural population and create awareness on
various health issues
• Geriatric care services to the inmates of Anandha Illam run by the Company for
care of elderly persons who have no family support.
• Company has taken all the necessary steps for health and Safety of its employees
by conducting 100% initial medical checkup of all employees and contract workmen ,
Periodical medical checkup of 100% employees and contract workmen of age more than 50
years and more than 30% for employees and contract workmen of age less than 50 years.
• ENT workstation and new IHMS application at NLC Hospital were inaugurated on 6th
March, 2023. The New ENT workstation is designed to enhance the Diagnostic aspects of Ear,
Nose & Throat at the Out Patient setup itself. It has another component, the video
laryngoscope helps in visualization of voice box and for assessment of voice disorders
difficulty in swallowing.
• NLC India Limited has launched its latest Integrated Hospital Management System
(IHMS) to manage various aspects of the daily operations.
Multi-disciplinary team approach is adopted to provide a holistic health screening
experience to the beneficiaries. Disciplines of General Medicine, Obstetrics &
Gynaecology, Paediatrics, Ophthalmic, Dermatology, ENT, Chest medicine, Ayurveda Medicine,
Ortho, Physiotherapy and Dental from the clinical team provide comprehensive screening and
wider coverage of treatment for women, children and elderly population. NLC India Hospital
has successfully completed 10 medical camps in year 2022-2023.
Elders Home
To fulfil the special needs and requirements of the senior citizens, your Company runs
ANANDA ILLAM in Neyveli. This elders home provides hospice & home care to the elders
and help them to lead a happy and peaceful life with dignity. The employees of your
Company also lend their helping hand by contributing a fixed amount every month from their
salary to run the old age home.
Compliance under Persons with Disabilities Act, 2016
Your Company has evolved a comprehensive policy for Persons with Disabilities (PwDs) as
per the guidelines issued by DoPT for providing certain facilities / amenities to PwDs to
meet their requirements and enable them to effectively discharge their duties. The
strength of PwDs as on 31st March, 2023 stood at 212.
"SNEHA" Opportunity Services and School
Your Company implements various social welfare measures towards the cause and
upliftment of the Physically Challenged Persons through Neyveli Health Promotion and
Social Welfare Society (NHPSWS), "SNEHA" Opportunity Services and School both
patronised by your Company. This School imparts education and training to mentally
challenged children (75 children: Boys-58 & Girls-17) which includes training in
vocations like arts & crafts, candle making, paper cup & cover making, carpentry,
gardening, cooking and doormat weaving.
Neyveli Health Promotion and Social Welfare Society (NHPSWS)
Through the society, Tricycles, Wheel chairs, Hearing aids etc. are distributed at free
of cost to the disabled persons during Independence Day and Republic Day celebrations. The
society runs retail outlet shops namely VAIGHAI.
Implementation of Official Language Act, 1963
Your Company has made all concerted efforts to promote the Official Language
Implementation Policy in line with the provisions and guidelines prescribed by Government
of India under the Official Language Act, 1963.
In line with the Policy of Government of India and the Provisions prescribed under the
Official Language Act, 1963 your Company continues to promote the Official Language and
periodic Official Language Implementation Committee (OLIC) meetings are held to monitor
the implementation of Official Language Policy. During the year under review, Hindi
Workshops were organised besides celebration of Hindi Fortnight wherein competitions on
Essay Writing, Poetry and Noting & Drafting in Hindi were conducted.
WIPS NLCIL chapter was formed in 12th February, 1990 and is a Corporate Life Member in
the SCOPE since 1990. The strength of women employees in the Company as on 31st March,
2023 stood at 890 constituting 8.26% of Company's human resource.
WIPS, NLCIL organised campaign supporting the Flood affected people. The WIPS, NLCIL
won second position in the Best Enterprise in Navratna category for the outstanding
efforts undertaken for women both in NLCIL and among society at the 33rd National meet at
Kolkata on 10th to 11th February, 2023.
Your Company is taking pioneering efforts in the industrial safety area along with, the
on-going safety related initiatives, apart from compliance of statutory requirements for
enhancing safety standard in all the Mines and Thermal Plants which are given below:
• Safety audit of all the Mines is conducted by ISO Team every year and Safety
audit of Thermal plants is conducted by accredited external agencies once in two years.
• Central Safety Council members comprising representatives of different units
make inspection of the predetermined unit every month and present its findings to the Unit
Head.
• Conducting workshops & Training on Safety by Mines and Thermal units.
• Life-Saving Rules have been prepared & implemented in all the units.
• Conducting Safety officers' meet every month by Central Safety Wing and
discussing the Safety performance, Action taken on recommendations, etc.
• Mines at Neyveli (Mine I, Mine IA & Mine II) are being operated with
State-of-the-Art Technology i.e., Bucket Wheel Excavators, Spreaders, stackers and series
of conveyors having inbuilt safety features.
• Standard Operating Procedures (SOPs) have been established for all the
activities of the mines and thermal plants and are strictly implemented.
• Risk assessment based Safety Management Plans (SMPs) have been prepared as per
Coal Mines Regulation, 2017 for all the mining activities like Bench operation,
Specialized Mining Equipment (SME), Conveyor Zone, Ground Water Control (GWC),
conventional Mining Equipment (CME) etc. and is being practiced.
• Pit Safety Committee meeting for the mine is conducted every month besides
special safety meetings by individual divisions like conveyor division, blasting division,
electrical division etc. Similarly, Unit Safety committee meeting is conducted by all
thermal plants every month.
• Weekly Safety inspections of Mines, Thermal plants and other units are being
carried out by Central Safety Wing executives and inspection report is submitted to Unit
Heads for compliance and improvement in safety standard.
• NLCIL Industrial Medical Centre has been recognised as training centre for
imparting First Aid Training by DGMS (Directorate General of Mines Safety).
A comprehensive Integrated Risk Management Policy and Frame work as approved by the
Board is in place in your Company. Besides risk prioritization, the roles and
responsibilities of the Members are clearly defined. As per the policy, an Internal Risk
Review Committee (below Board level) review the risks on a quarterly basis. The risk
assessment together with the minimization procedure is reviewed by the Risk Management
Committee, Audit Committee and the Board periodically.
The activities undertaken by Vigilance Department are Pro-active & Punitive and
other measures to sensitize the employees of the Company. Complaints received in the
department are dealt based on the "Complaint Handling Policy" and are processed
through the Complaint Tracking System (CTS) from receipt up to disposal. As a preventive
measure, Surprise Checks, Regular Checks, Quality Checks, Follow-up Checks and CTE Type
Examinations are conducted.
As a part of Preventive Vigilance exercise, Customized Training Programmes on
"Learning Through Vigilance Cases, Quiz Competition" were conducted at Thermal
Units, various Mines, Offices at Neyveli, Barsingsar Project, NTPL, NUPPL & Talabira
Project to sensitize the officials on Contracts/ Purchase and various CVC guidelines
issued in this regard through Vigilance case studies.
New e-initiatives viz., Digitalization of Land Management portal, Mine Vehicle Tracking
system Mobile Application & Project Affected Persons Data Management System were
inaugurated.
Quarterly Structured Review meeting with CMD were undertaken for reviewing Vigilance
Activities. The required Monthly, Quarterly and Annual reports on Vigilance activities are
furnished to CVC and Ministry of Coal.
Your Company is committed to have most ethical business dealing with the Vendors,
Bidders and Contractors of goods and services and deal with them in a transparent manner
with equity and fairness. To achieve these goals, your Company is implementing the
Integrity Pact Programme in co-operation with Central Vigilance Commission (CVC) and
renowned International Non-Governmental Organisation, Transparency International India
(TII). Integrity Pact with the suppliers / contractors for all Tenders with an estimate of
Rs. 1 Crore rupees and above are monitored.
During the year 2022-23, two Structured meetings are held with the Independent External
Monitors (IEMs) wherein procurement and contract related issues and complaints are taken
up. During the period, IEMs held 11 review meetings wherein, the orders covered under
Integrity Pact were reviewed and held 8 meetings with Contractors for the Tender/ Contract
related issues raised by the Contractors/Vendors.
To protect against cyber security threats, your Company has a maze of protective
equipment like Network and Web application firewall for perimeter security and antivirus
protection to desktops/laptops.
Your Company has undertaken the following initiatives while transforming to digital
culture:
a. SAP ERP is used as the enterprise software for core business.
b. E-Procurement of products and services through a common portal.
c. Email, intranet, SMS services help for dissemination of information. Virtual Private
Network (VPN) has enabled extended office connectivity.
d. Video Conferencing and virtual meetings are being conducted with remote Projects
& Business units.
e. Pro-Active and Digital Initiatives like E-office, Document Management System and
E-payments have ensured digitization of documents and paperless processes. These have
enabled e-governance by ushering in more effective and transparent processes.
f. Supported by a robust network infrastructure with the project sites connected by
MPLS, Hyper Converged Infrastructure for Servers, your Company is in the process of
embracing new technological platforms to make the infrastructure more robust and seamless.
g. Your Company has taken measures to maintain Inventory of all Critical Information
assets with risk Assessment and Business Impact Analysis and Contingency plan for IT
systems for strengthening Cyber Security of the organization.
h. The digitisation efforts has been a definitive step towards making the internal
processes robust and unified which is contributing immensely towards addressing the
Environment Social Governance (ESG) parameters for the Company.
Your Company has set up a software based Legal Compliance Management System (LCMS) for
effectively monitoring and ensuring compliances of all legal provisions applicable to the
Company.
Your Company, as a socially responsible corporate citizen, continues to carry out
developmental works in the surrounding villages, right from its inception, focusing on the
socio economic development of the operating regions for achieving inclusive &
sustainable growth.
Your Company is adopting a Corporate Social Responsibility Policy covering the various
sectors of sustainable socioeconomic development. Your Company focuses on healthcare,
education, sanitation, safe drinking water, hunger, poverty and malnutrition eradication,
women empowerment, gender equality, environment sustainability, rural sports, protection
of National Heritage, Arts and Culture, Rural Development, Water Resource Augmentation.
The funds utilised for the CSR projects, programs and activities selected for
implementation are as per the CSR Policy of the Company which is available in the website
in the following link https://www.nlcindia.in/new website/index.htm During the year
2022-23, your Company had spent Rs.43.07 Crore which is more than 2% of the average net
profits of the Company for the last three years.
The details on specific Corporate Social Responsibility projects undertaken in
compliance with Section 135 of the Companies Act, 2013 is placed as Annexure- 1.
In recognition of its various activities, your Company, has been conferred with the
following awards during the year 2022-23:
> Greentech Intl. EHS award supported by MoEF & CC - Winner for outstanding
achievements in Environment Leadership.
> Grow Care India Environment Excellence Platinum Award 2021- under Environment
Preservation Category.
> Fly Ash Utilization Award 2022- For efficient management of Fly ash management in
NLCIL (Southern Region) by Mission Energy Foundation.
> TPS II conferred as Winner under "Best Performing Unit" presented by
National Power Plant Awards - 2023 - Council of Enviro Excellence (CEE).
> Mine II bagged Green Tech Environment Award 2023 Winner under Environmental
Preservation category.
> TPS-I Expn conferred with CBIP award 2022 for best performing thermal power
station in the country.
> TPS-II received the Best Performing Unit award in the category of IPP Lignite -
Between 125 to 250 MW in recognition of outstanding achievements in exceptional unit
performance, efficiency and reliability from Council of Enviro Excellence.
> BTPS has been awarded with "Gold Award" by Apex India Green Leaf Awards
2021 in Thermal Sector for environment excellence and energy efficiency during the FY
2022-23.
> BTPS won Environment Excellence Awards from Mission Energy Foundation in two
categories of Clean Generator of the Year - Lignite and Excellence in implementation of
New Environmental Norms existing TPPs during FY 2022-23.
> BTPS awarded with "Gold Award" for the 13th Exceed Occupational Health
Safety Award & Conference 2022 in Power Sector during the FY 2022-23.
> Barsingsar Project has been selected as Winner under Leading Project of the Year
Category for Greentech Intl. Leadership Awards 2023 in FY 2022-23.
> BTPS awarded with "Excellent Award" for the "National Convention on
Quality Concepts." (NCQC-2021)
> BTPS has been awarded with winner prize for 100% Fly ash utilization by Mission
Energy Foundation during the FY 2022-23.
> TPS-II Expansion has bagged "Occupational Health and Safety Award - Gold
Award" for Occupational Health and Safety from sustainable development foundation in
Nov-22 at Goa.
> TPS-II Expansion has bagged "Kalinga Safety Award - Platinum category"
in National Safety Conclave 2022 at Bhubhaneswar.
> NLCIL Stood 1st Place for timely payment and 2nd place in overall ranking among
the top 20 CPSEs in GeM Procurements as per updates dt. 16th March, 2023.
> Developer of Year in PSU Category award at EQ's SuryaCon Coimbatore Conference +
Tamil Nadu State Annual Solar Awards on 02nd February, 2023.
> NNTPS bagged the prestigious award of "Winner - Southern Region" for
Excellence in Environment Sustainability 2022 as the best efficient plant in IPP - Fly Ash
Utilization category organized by Council of Enviro Excellence (CEE) in the virtual event
held on 18th August, 2022.
> NNTPS was awarded "GOLD AWARD" by Sustainable Development Foundation
supported by Ministry of Labour Employment GOI for power sector for Occupational Health
and Safety in the event held in Goa on 25th November, 2022.
> NNTPS bagged "Green Leaf Award-2021" for Environment Excellence from
Apex India Foundation on 5th May, 2022.
> NNTPS bagged the prestigious award of "Winner- Best Performing Unit" in
the category of IPP Lignite - above 250MW organized by Council of Enviro Excellence (CEE)
in the virtual event held on 14th March, 2023 for National Power Plant Awards Year 2023.
> Mine II has been bestowed with the most prestigious "NATIONAL SAFETY AWARD
2021" for lowest injury frequency rate per million cubic meter output.
> Barsingsar Lignite Mine awarded with Overall First Prize in the Safety Week
Celebration- 2022-23 under aegis of DGMS, Northern Zone.
> 5 Star Rating
Rs. Mine-I (2nd Place), Mine-II (1st Place), BLMP (14th Place) & Talabira II &
III OCP (13th Place) for FY 2020-21.
Rs. Mine-I (1st Place), Mine-II (10th Place), BLMP (3rd Place) Talabira II & III
OCP (15th Place) for FY 2021-22.
> 4 Star Rating
Rs. Mine-IA (16th Place) for FY 2020-21.
Rs. Mine-IA (32nd Place) for FY 2021-22.
Your Company ensures compliance under the Right to Information Act, 2005. Central
Assistant Public Information Officers representing different functional areas, Nodal
Officer, Central Public Information Officer, Appellate Authority and Transparency Officer
have been nominated to attend to the queries and appeals received under the RTI act in a
time bound manner.
During the year 2022-23 under the above Act, 468 applications containing 1,759 queries
were received and 449 applications have been disposed off as on 31st March, 2023. 76 RTI
First Appeal have been received out of which 74 have been disposed as on 31st March, 2023.
The Ministry of Micro, Small and Medium Enterprises (MSMEs) has notified the Public
Procurement Policy. The total procurement made from MSMEs during the year 2022-23 was
33.64% as against the target of 25%. Your Company has on boarded on Trade Receivable
e-Discounting System (TReDS), a platform which facilitates the financing of trade
receivables of MSMEs from corporate and other buyers, including Government Departments and
Public Sector Undertakings (PSUs), through multiple financiers.
During the year 2022-23, your Company as a group has procured goods & services from
Government e-Marketplace (GeM) Portal for Rs. 1,028 Crore. Efforts are being continuously
made to maximize the procurement in GeM Portal by using the functionality of "Custom
Bid" introduced in GeM during the year 2020.
Your Company maintains Citizen's Charter, indicating details of clients, customers
under different heads, different system of redressal of grievance etc. and the same is
regularly updated.
The particulars required under Section 134(3)(m) of the Companies Act, 2013 regarding
conservation of energy, technology absorption and foreign exchange earnings and outgo are
furnished in Annexure-2.
The Management Discussion & Analysis Report is furnished in Annexure-3. The
report on Corporate Governance on the compliance of Corporate Governance conditions
stipulated by SEBI (Listing Obligations and Disclosure Requirements) Regulation,2015 and
the DPE guidelines on corporate governance is furnished in Annexure-4.
The Auditors' Certificate on the compliance of above Corporate Governance Conditions is
furnished in Annexure - 5. Annual Return
In accordance with the Companies Act, 2013, the annual return in the prescribed format
is available at https://www. nlcindia.in/investor/AR1.pdf.
Particulars of Contracts or Arrangements with Related Parties
All related party transactions entered during the year 2022 - 23 were in the ordinary
course of the business and are on an arm's length basis. The disclosure of related party
transactions as required under Section 134(3)(h) of the Companies Act, 2013 in Form AOC
2 is not applicable to your Company. Members may refer to note no. 38 to the financial
statement which sets out related party disclosures pursuant to Ind AS-24.
Declaration by Independent Directors
The Independent Directors have given a declaration on meeting the criteria of
independence as stipulated in Section 149(6) of the Companies Act, 2013 & Regulation
25(8) SEBI (LODR) and they have registered their names in the Independent Directors'
Databank.
Particulars of Employees
As per provisions of Section 197(12) of the Companies Act, 2013 read with Rule 5 of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, every listed
Company is required to disclose the ratio of the remuneration of each Director to the
median employee's remuneration and details of employees receiving remuneration exceeding
limits as prescribed from time to time in the Directors' Report.
However, as per notification dated 5th June, 2015 issued by the Ministry of Corporate
Affairs, Government Companies are exempted from complying with provisions of Section 197
of the Companies Act, 2013. Therefore, such particulars have not been included as part of
Directors' Report.
Disclosures with respect to Demat Suspense Account/ Unclaimed Suspense Account in terms
of SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015.
As on 31st March, 2023, there were 1000 shares pending unclaimed in the Demat Suspense
Account/unclaimed Suspense Account.
Material changes affecting financial position occurring between the end date of
Financial Year and the date of the Report.
There are no material changes affecting the financial position of the Company between
the end of the Financial Year and the date of this Report.
Sexual Harassment of Women at Workplace:
As required under Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013, suitable mechanisms were put in place in NLCIL to address the issues
faced by women employees. A separate Internal Complaints Committee has been constituted
for looking into the complaints relating to sexual harassment of women at workplace.
During the year 2022-23, one complaint was received and same has been resolved and as such
no case is pending.
Statutory Audit
M/s. R Subramanian and Company, LLP, Chartered Accountants and M/s. Manohar Chowdhry
& Associates, Chartered Accountants were appointed by the Comptroller and Auditor
General of India (C&AG) as the Joint Statutory Auditors for the year 2022-23 under
Section 139 of the Companies Act, 2013. The Board of Directors of your Company has fixed
Rs. 45 lakh plus applicable taxes as the Statutory Audit fees for the year 2022-23, to be
shared equally by the Joint Statutory Auditors.
Branch Audit
M/s. Dhoot & Associates, Chartered Accountants, has been appointed as the Branch
Auditor for the year 2022-23 by C&AG for conducting the audit of Mine and Thermal
Units at Barsingsar. The Board of Directors of the Company has fixed Rs.5.0 lakh plus
taxes as the Branch Audit fees for the year 2022-23.
M/s. Kadmawala & Co., Chartered Accountants, has been appointed as the Branch
Auditor for the year 2022-23 by C&AG for conducting the audit of Mines at Talabira.
The Board of Directors of the Company has fixed Rs.5.0 lakh plus taxes as the Branch Audit
fees for the year 2022-23.
Secretarial Audit
M/s. Kumar Naresh Sinha & Associates, Practicing Company Secretaries, was appointed
as the Secretarial Auditor for the year 2022-23. The Secretarial Audit report for the year
2022-23 & the reply to observations of the Secretarial Auditors and the Secretarial
Auditor Reports of the Subsidiary Companies are furnished in Annexure-6.
Cost Audit
M/s. R.M. Bansal and Co., Kanpur, was appointed as the Cost Auditor for the year
2022-23 to conduct Cost Audit for Mines & Power Stations of the Company.
In accordance with the provisions of Section 148(1) of the Act, read with the Companies
(Cost Records and Audit) Rules, 2014, the Company has maintained Cost Accounts and
Records.
C&AG's Comments:
Comments of the Comptroller & Auditor General of India (C&AG) on the Financial
Statements of the Company for the year ended 31st March, 2023 under Section 143(6)(b) of
the Companies Act, 2013 along with the Management reply to the comments thereon are
furnished in Annexure-7.
Directors' Responsibility Statement as per Section 134(3)(c) & 134(5) of the
Companies Act, 2013:
The Board of Directors declares that:
a. In 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 and Loss 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 the Companies Act, 2013 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; and
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.
Appointment
Details of appointment of Directors on the Board of the Company are as under:
a. Shri M T Ramesh has been appointed as Independent Director w.e.f. 06th April, 2022.
b. Shri Suresh Chandra Suman has been appointed as Director (Mines) w.e.f. 11th May,
2022 and also appointed as a Director (Finance) additional charge w.e.f. 01st January,
2023.
c. Shri Prasanna Kumar Motupalli has been appointed Chairman and Managing Director
w.e.f. 12th January, 2023.
d. Smt. Vismita Tej, Additional Secretary, Ministry of Coal, Government of India has
been appointed as Government Nominee Director, w.e.f. 22nd February, 2023.
e. Shri Samir Swarup has been appointed as Director (Human Resources) w.e.f. 27th
February, 2023.
f. Shri M. Venkatachalam has been appointed as Director (Power) w.e.f. 26th April,
2023.
g. Dr. Beela Rajesh, Principal Secretary to Government of Tamil Nadu, Energy Department
has been appointed as Government Nominee Director w.e.f. 10th July, 2023.
Cessation
The following Directors relinquished from the Board of Directors of the Company:
a. Shri N K Narayanan Namboothri and Shri Muralidhar Goud ceased to be Independent
Directors w.e.f. 10th July, 2022.
b. Shri Jaikumar Srinivasan ceased to be Director (Finance) w.e.f 22nd July, 2022.
c. Shri Rakesh Kumar ceased to be Chairman and Managing Director w.e.f. 1st January,
2023 due to superannuation.
d. Shri Shaji John ceased to be Director (Power) w.e.f. 1st February, 2023 due to
superannuation.
e. Shri M. Nagaraju, Additional Secretary, Ministry of Coal ceased to be Part-time
Official Director, w.e.f. 22nd February, 2023 due to change in nomination.
f. Shri Ramesh Chand Meena, Additional Chief Secretary to Government of Tamil Nadu,
Energy Department ceased to be a Part - time Official Director w.e.f. 10th July, 2023 due
to change in nomination.
Key Managerial Personnel:
a. Shri K. Viswanath relieved as Company Secretary of the Company under Voluntary Exit
Scheme w.e.f. 01st December, 2022.
b. Shri R. Udhayashankar was appointed as Company Secretary of the Company w.e.f. 01st
December, 2022.
c. Shri Suresh Chandra Suman, Director (Mines), holding the additional charge of
Director (Finance) was appointed as Chief Financial Officer w.e.f. 01st January, 2023.
Your Directors wish to place on record their whole-hearted appreciation for the
valuable guidance and services rendered by them during their tenure as Directors on the
Board of the Company.
Further, pursuant to Section 152 of the Companies Act, 2013, Shri K. Mohan Reddy,
Director, will retire by rotation at the ensuing Annual General Meeting and being eligible
offer himself for the re-appointment.
Reporting of Frauds by Auditors
During the year under review, the Statutory Auditors, Cost Auditors and Secretarial
Auditor have not reported any instances of frauds committed in the Company by its Officers
or Employees to the Audit Committee under section 143(12) of the Companies Act, 2013.
Adequacy of internal financial controls with reference to the Financial Statements
Your Company has, in all material aspects, an adequate internal financial controls
system over financial reporting and such internal financial controls over financial
reporting were operating effectively as at 31st March, 2023, based on the internal control
over financial reporting criteria established by the Company, considering the essential
components of internal control stated in the Guidance Note on Audit of Internal Financial
Controls Over Financial Reporting issued by the ICAI.
Acknowledgement
The Board of Directors of your Company places on record its sincere appreciation for
the continued support and guidance extended by the Ministry of Coal, Ministry of Power,
Ministry of New and Renewable Energy, Ministry of Finance, Ministry of Environment &
Forest and Climate Change, Ministry of Mines, Ministry of Personnel, Public Grievances and
Pensions, Ministry of Jal Sakthi, Ministry of Industry, Ministry of Labour and Employment,
Ministry of Railways, Ministry of Heavy Industries, Ministry of Road Transport and
Highways, NITI Aayog, DIPAM, DPE, Central Electricity Authority, Central & State
Government Departments, Central & State Electricity Regulatory Commissions, Andaman
& Nicobar Islands Administration, State Electricity Boards and beneficiaries of Tamil
Nadu, Andhra Pradesh, Telangana, Karnataka, Kerala, Puducherry and Rajasthan and also the
Joint Venture Partners, viz., Tamil Nadu Generation and Distribution Corporation
Limited(TANGEDCO), Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL), Coal India
Limited, Mahanadi Coalfields Limited and Hindalco.
The Board of Directors of your Company is pleased to acknowledge with gratitude the
cooperation and continued support extended by the Governments of Tamil Nadu, Rajasthan,
Uttar Pradesh, Jharkhand and Odisha, V.O.C. Port Trust, Tuticorin and the District
Administrations of Cuddalore, Tuticorin, Bikaner, Andaman & Nicobar, Sambalpur,
Jharsuguda, Kanpur Nagar and Dumka. The support and co-operation extended by the
Comptroller and Auditor General of India, Statutory Auditors, Branch Auditor, Internal
Auditors, Cost Auditor, Secretarial Auditor, Director General of Mines Safety, Directorate
of Industrial Health & Safety, Boiler Inspectorates, Chief Inspector of Factories, the
Director of Boilers, Central Pollution Control Board, State Pollution Control Board, Chief
Controller of Explosives, Chief Vigilance Commissioner, Coal Controller Officers, Regional
Labour Commissioner, Regional Provident Fund Commissioner and other Statutory Authorities,
the Company's Bankers, Financial Institutions and KfW of Germany, Vendors, Suppliers,
Contractors and other valued Stakeholders need special mention and the Directors
acknowledge the same.
Your Directors also wish to place on record their appreciation for the dedicated work
put forth by the Employees at all levels.
The positive role played by the recognized Trade Unions and Associations of the
Engineers and Officers in maintaining cordial industrial relations deserves special
mention.
|
For and on behalf of the Board of Directors |
Place: Neyveli |
Prasanna Kumar Motupalli |
Date: 30th August, 2023 |
Chairman and Managing Director |
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