| Re: NTPC last year questions
Announcements Corporate Disclosure | Date | Information/Announcements | | 20th February 2009
| Based on the letter dated 19th February, 2009 from Ministry of Power, Government of India to Shri G.D. Agarwal, Former Professor, IIT Kanpur, the work on Loharinag-Pala Barrage Project on Bhagirathi river has been suspended. | Top | 16th February 2009
| NTPC Limited, being a generating Company owned by the Central Government, the tariff for supply of electricity by the generating stations of the company is fixed by the Central Electricity Regulatory Commission (CERC).
It is hereby intimated that in exercise of powers conferred under Section 178 of the Electricity Act, 2003, Central Electricity Regulatory Commission vide Notification No.L-7/145(160)/2008-CERC dated 19th January, 2009 has issued Central Electricity Regulatory Commission (Terms and Conditions of Tariff) Regulations, 2009 which shall come into force on 01.04.2009 and unless reviewed earlier or extended by the commission shall remain in force for a period of 5 years from the date of commencement. Some of the important provisions of the regulation regarding computation of tariff are as follows:
(i) Rate of return has been increased from 14% to 15.5% which will be grossed up by the normal Income tax rate applicable to the concerned generating company to work out pre-tax return.
(ii) Additional ROE of 0.5% for the project completed in stipulated timeline.
(iii) Rate of depreciations have been aligned with the Companies Act, 1956 for the first 12 years.
(iv) O&M charges have been increased based on past actual expenditure and salary revision.
(v) Operating performance norms have been adjusted based on past performance.
(vi) Availability level for fixed charge recovery has been increased from 80% to 85% and incentive has been linked with plant availability.
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A copy of the regulation is available on the website of CERC at www.cercind.gov.in. | Top | 14th February 2009
| NTPC has entered in to an MOU with Nuclear Power Corporation of India Ltd. (NPCIL) to work together for development of Nuclear Power in India and for this purpose to form a Joint Venture Company for setting up Nuclear Power Projects. The proposed Joint Venture Company will be a subsidiary of NPCIL in which NPCIL shall hold 51% equity and the balance 49% will be held by NTPC Ltd.
| Top | 29th January 2009
| It is to be informed that:
1. Consequent upon completion of three years tenure, following four Independent Directors nominated by Govt. of India on Board of NTPC shall cease to be Director of the Company w.e.f 29th January 2009:
iii)Shri Santosh Nautiyal is a Post Graduate in Political Science and Public Administration. He belonged to Indian Administrative Services (Orissa 1968) and retired in July 2006 as Chairman (in the rank of Secretary to the Govt. of India,) National Highway Authority of India. He has held various positions like Additional Secretary, Govt of India in Department of Consumer Affairs, Principal Secretary of Government of Orrisa, Joint Secretary in Ministry of Steel and Managing Director in Industrial Promotion and Investment Corporation of Orrisa Ltd. He also served as Chairman of Food Corporation of India and after retirement was appointed as Chairman of the National Shipping Board constituted by the Central Government.
iv)Shri Arun Kumar Sanwalka is M.Sc (Engg) from UK, I. Mech. (E), UK. and AMIE (India) – Mech. & Prod. He has held various positions in Indian Railways and retired from the position of General Manager, Northeast Frontier Railway after 38 years of service. He has wide expertise in the areas of General Management & Administration, Transport planning, Project management and coordination. He has also handled several projects for establishing large production, maintenance and repair facilities of Indian Railways. He also held the position of Executive Director (Motive Power), RDSO for several years.
| Top | 27th January 2009
| It is to be informed that:
1. For the year 2007-08, NTPC Ltd. has been awarded Silver Shield by the Institute of Chartered Accountants of India (ICAI) for excellence in financial reporting under "Infrastructure & Construction sector" category.
2. Shri A.K. Singhal, Director (Finance) of NTPC Ltd has been adjudged as the Best CFO in the Public Sector category. The award was presented by the Committee for Members in Industry (CMII) of ICAI.
| Top | 24th January 2009
| The Board of Directors of the Company at its meeting held on January 24, 2009 have approved the investment proposal for Rihand Super Thermal Power Project, Stage-III (2 X 500 MW) in the state of Uttar Pradesh at an appraised current estimated cost of Rs. 62308.11 million.
| Top | 7th January 2009
(Conference Call)
| The company will hold a conference call for analysts and investors only at 4.00 PM India time on January 27,2009, where senior management team comprising of Mr. Chandan Roy, Director (Operations), Mr. A.K.Singhal, Director (Finance), and Mr. I.J.Kapoor, Director (Commercial) will discuss the company’s third quarter results for financial year 2008-09 and answer questions from participants.
To participate in the conference call, please dial the numbers provided below five to ten minutes ahead of the scheduled start time. The operator will provide instructions on asking questions before the call.
| Conference Code | 79849514 | | India: Mumbai | | Primary Access Number | 91 22 27813268 | | Secondary Access Number | 91 22 67763968 | | International | | Hong Kong (Toll free) | 800 901 700 | | Singapore (Toll free) | 800 101 1350 | | UK (Toll free) | 0800 917 4860 | | US (Toll free) | 877 209 0463 |
A transcript of the conference call will be available on our website.
For any further enquiries regarding the conference call the following may be contacted:
Mr. Shankar K
Edelweiss Securities Ltd.
91 22 4040 7412
Email: shankar.k@edelcap.com
| Top | | 14thJanuary 2009 | In terms of Clause 41 of the Listing Agreement executed by NTPC with National Stock Exchange of India Limited and Bombay Stock Exchange Limited, it is hereby intimated that a meeting of the Board of Directors of the Company is scheduled to be held at New Delhi on Saturday, January 24, 2009, inter-alia, to approve and take on record the unaudited Financial Results for the nine months period ended December 31, 2008 and unaudited quarterly Financial Results for the quarter ended December 31, 2008 as reviewed by the Audit Committee and also to consider declaration of interim dividend for the year 2008-2009. Further, pursuant to clause 16 of the Listing Agreement, the Company has fixed January 30, 2009 as the “RECORD DATE” for the purpose of ascertaining the eligibility of the shareholders for payment of interim dividend, if declared by the Board.It is also hereby intimated that pursuant to clause 21 of the Listing Agreement the dividend on equity shares, subject to the provisions of section 206A of the Companies Act, 1956, if declared at the above Board Meeting, will be paid on or after February 5, 2009 to the Members or their mandates whose names appear on the Company’s Register of Members on January 30, 2009 in respect of physical shares, after giving effect to all valid share transfers. In respect of dematerialized shares, the dividend will be payable to the “beneficial owners” of the shares whose names appear in the Statement of Beneficial Ownership furnished by National Securities Depository Limited and Central Depository Services (India) Limited as at the close of business hours on January 30, 2009. | | 14thJanuary 2009 | Further to Corporate Disclosure made through our letter no. 01/FA/ISD/Compliance-04/22/07 dated September 3, 2007, it is hereby intimated that a Joint venture Agreement has been signed on January 14, 2009 with Steel Authority of India Limited (SAIL), Rashtriya Ispat Nigam Limited (RINL), Coal India Limited (CIL) and National Mineral Development Corporation Limited (NMDC) to form, promote and incorporate a Special Purpose Vehicle/Joint Venture Company, namely, International Coal Ventures Private Limited for securing metallurgical coal and thermal coal assets from overseas and to leverage their domain knowledge and human capital for international mining business development. | | 13thJanuary 2009 | The Board of Directors of the Company at its meeting held on January 13, 2009 have
1- Approved the investment proposal for Vindhyachal Super Thermal Power Project, Stage-IV (2 X 500 MW) in the state of Madhya Pradesh at an appraised current estimated cost of Rs. 59149.76 million.
2- Approved the investment proposal to undertake Renovation and Modernisation (Phase-I) extension works at Rihand Super Thermal Power Station (2X500 MW) in the state of Uttar Pradesh at an estimated cost of Rs. 545.06 million.
3- Approved the investment proposal to undertake Renovation and Modernisation of Controls and Instrumentation System works at Korba Super Thermal Power Station for 3X500 MW (R&M Phase-II-Extension) in the state of Chattisgarh at an estimated cost of Rs. 672.90 million. | | 6thJanuary 2009 | A Memorandum of Understanding has been signed on January 6, 2009 between NTPC Limited and Hindustan Aeronautics Limited for preparation of Detailed Project Report for “Repairs of Hot Gas Path Components which may eventually graduate to manufacturing facility creation for GT indigenously” by forward and reverse engineering. | | 31stDecember 2008 | In line with the Corporate Disclosure requirements, we wish to inform you that the 2nd 500 MW at Sipat Super Thermal Power Project, Stage-II will commence commercial operation w.e.f 00:00 Hrs of January 1, 2009. With the commercial operation of this unit, the commercial capacity of Sipat Super Thermal Power Project, Stage-II would be 1000 MW. | | 29thDecember 2008 | The 2nd 500 MW of Kahalgaon Super Thermal Power Project – Stage II will commence commercial operation w.e.f 00:00 Hrs of December 30, 2008. With the commercial operation of this unit, the commercial capacity of Kahalgaon Super Thermal Power Project would be 1840 MW. | | 26thDecember 2008 | As per order No. 8/1/2006-Th.1 dated 26th December, 2008 of Ministry of Power, Government of India and in pursuance to Article 41 of the Articles of Association of NTPC Limited, the President of India has appointed Shri I.J.Kapoor, as Director (Commercial) on the Board of Directors of NTPC for a period of five years with effect from the date of taking over the charge of the post or till date of his superannuation or until further orders whichever event occurs the earliest.
Shri I.J.Kapoor has taken over the charge as Director (Commercial) w.e.f. afternoon of 26th December, 2008. Shri I.J.Kapoor is a Bachelor of Science (Engg.) and Master in Business Administration (Marketing). He started his career in NTPC as Executive Trainee in 1978 and has over 30 years of experience in various functions of NTPC viz. Contracts & Materials, Project Coordination, Engineering, Consultancy and Commercial in various capacities. Prior to his elevation to Director (Commercial) he was working as Regional Executive Director (National Capital Region). | | 12th December 2008 | Further to Corporate Disclosure made on 04.09.2008, it is hereby intimated that a Joint Venture Company has been incorporated on December 11, 2008 amongst NTPC Ltd., NHPC Ltd., Power Finance Corporation Ltd. and Tata Consultancy Services Ltd. under the name “National Power Exchange Limited” to operate a Power Exchange at National level. NTPC Ltd. & NHPC Ltd. contributes 16.67% equity each, Power Finance Corporation Ltd. contributes 16.66% equity while Tata Consultancy Services shall contribute 50% equity in the share capital of this Company. | | 1st December 2008 | A memorandum of Understanding was signed on December 1, 2008 amongst NTPC Ltd., NHPC Ltd., Power Grid and DVC to form a Joint Venture Company to set up with equal equity participation an "Online High Power Test Laboratory" (OHPTL) for short circuit testing facility. Presently, manufacturers and utilities are sending their equipments to overseas testing labs which is not only time consuming but expensive too. The OHPTL facility will test power transformers, LT/HT Switchgears, bus-ducts, CTs etc. | | 11th November 2008 | NTPC’s Bond Issue (Series XXVIII) has received an overwhelming response. Against an issue size of Rs. 500 crore with Green Shoe option to retain over subscription, commitments over 3000 crore were received. The issue generated lot of interest among investors and generated a momentum thereby pulling down the yield for 10 year bonds to attractive levels of 11% annualized.
As compared to other bonds of similar maturity, the yields are lower by 20-30 BPS.
On the very first day of issue opening, subscription amount of Rs.1000 crore has been received. The Company has decided to pre-close the issue on earliest closing date i.e 10th November, 2008 itself and also exercise the Green Shoe option to retain additional amount of Rs.500 crore. The Bonds shall be listed on the Wholesale Debt Market Segment of National Stock Exchange shortly.
Investors have once again reposed their confidence in India’s number one Power Generating Company.
The Company has also raised Rs.350 crore against another Bond Issue (series XXVII) on 06.11.2008.These Bonds were placed with NTPC Ltd. Employees Provident Fund Trust and are not proposed to be listed. | | 29th October 2008 | The Board of Directors of NTPC in its meeting held on 24.10.2008 has approved the proposal for initiating discussion with Nuclear Power Corporation of India Ltd. (NPCIL) for entering into an MOU for formation of Joint Venture Company for setting up a Nuclear Power Project. In the said proposed JVC, NPCIL shall hold 51% equity stake and remaining 49% shall be held by NTPC. | | 24th October 2008 | The company will hold a conference call for analysts and investors only at 5.30 PM India time on October 24, 2008, where senior management team comprising of Mr. A.K.Singhal, Director (Finance) and Mr. Chandan Roy, Director (Operations) will discuss the company’s second quarter results for financial year 2008-09 and answer questions from participants.To participate in the conference call, please dial the numbers provided below five to ten minutes ahead of the scheduled start time. The operator will provide instructions on asking questions before the call.
| Dial-In Numbers | +91 22 6629 0101/
+91 22 3065 1010 | | USA (Toll free) | 1 866 746 2133 | | UK (Toll free) | 0 808 101 1573 | | Hong Kong (Toll free) | 800 964 448 | | Singapore (Toll free) | 800 101 2045 |
A transcript of the conference call will be available on our website. For any further enquiries regarding the conference call the following may be contacted:
Mr. Subhadip Mitra
B&K Securities India (Pvt.) Ltd.
91 22 40076252/40076000
| Top | | 10th September 2008 | NTPC Limited has formed a Joint Venture Company with Bihar State Electricity Board under the name "Nabinagar Power Generating Company Private Limited " on September 9, 2008 for setting-up of a coal based power project having capacity of 1980 MW (3X660 MW) and operation & maintenance thereof at Nabinagar in district Aurangabad of State of Bihar. | | 5th September 2008 | A Memorandum of Understanding has been signed on September 5, 2008 by NTPC with Swiss Agency for Development and Cooperation (SDC) to formulate a long term strategy for technology upgradation and implementation of Renewable Energy & Distributed Generation Projects.
| | 4th September 2008 |
Further to our Corporate Disclosure made on August 8, 2008, a Joint Venture Agreement has been signed on September 3, 2008 at New Delhi amongst NTPC Ltd., NHPC Ltd, Power Finance Corporation Ltd. and Tata Consultancy Services Ltd. for incorporation of a Joint venture company to set-up and operate a Power Exchange at national level. It shall be registered as a Public Limited Company. | | | 27th August 2008 |
As per office order No. 8/19/2005-Th-I (Vol-II) dated 26 August, 2008 of the Ministry of Power, Government of India and in pursuance of Article 40/41 of the Articles of Association of NTPC Limited, the President has appointed the following five persons as non-official part-time Directors on the Board of NTPC Limited for a period of three years with effect from the date of assumption of charge of the post or until further orders, whichever is earlier. |
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04-02-09, 05:20 PM
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