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22 Annual Report 2008-09
2011 - 6780 MWe
2009 - 4120 MWe
1999 - 1890 MWe
1989 - 1010 MWe
1979 - 470 MWe
1969 - 320 MWe
Homi Bhabha Birth Centenary Year: 30 October, 2008 - 30 October, 2009
DELIVERING A VISION
Nuclear Power in India, Bhabha envisioned it, conceived it and started it. NPCIL is a testimony to how far his dreams have been realised. His foresight is as relevant today. NPCIL, ably led by past and current visionaries, marches forward towards fulfilling India's hope of becoming energy secure for its vast populace. NPCIL is now at an inflection point, where its journey to make a big difference has begun.
Madras Atomic Power Station 1 & 2
The future has started…
Kudankulam Nuclear Power Project
Kaiga Plant Site
Tarapur Atomic Power Station 1 & 2
700 MWe Plant Layout
ANNUAL REPORT 2008-09
Our Mission Mission and Objectives Recognition Overview Board of Directors Chairman's Statement Homi Bhabha .Environment Stewardship Programme Directors' Report Annexure 'A' to the Directors' Report Annexure 'B' Management Discussion & Analysis Annexure 'C' Corporate Governance Management Replies to the Observations made in the Statutory Auditors' Report Auditors' Report Comments of the Comptroller and Auditor General of India Financials Front Cover: Night view of Kudankulam Nuclear Power Project 03 04 07 08 10 12 16 20 22 24 26 28 30 32 34 36 38 40 42 44 54 56 62 71 73 77 78 Tarapur Atomic Power Station 3 & 4 02 NUCLEAR POWER CORPORATION OF INDIA LIMITED .Architect of a Historic Future Charting the Course Arriving into the Future Engaged with the World Highly Adaptive Management Planned Fuel Supply Partnerships and Alliances Optimising Performance On the Path of Progress Channelising Manpower Corporate Social Responsibility The Green Signal .Delivering a CONTENTS Corporate Information His Vision.
Vishal Bhawan. World Trade Centre. M/s..68/38.2&3. 2. Chartered Accountants. Mumbai-400 005. World Trade Centre. Kalyanpath Mangal Marg. BRANCH AUDITORS 1. Jaipur-302 015. Flat No. Cuffe Parade.. Overseas Branch. PKKG Balasubramaniam & Associates. Cuffe Parade. Kalani & Co. STATUTORY AUDITORS M/s. CORPORATE OFFICE Nabhikiya Urja Bhavan.CORPORATE INFORMATION Corporate Office. Centre-1. Colaba. Jaipur-302 001. Keshav Path. Bapu Nagar. Chennai-600 033. Mumbai-400 005. Door No. M/s. B-145B. NPCIL . Anushaktinagar. New Delhi-110 019. ANNUAL REPORT 2008-09 03 . A Bafna & Co. 95. Brindavan Street.Nabhikiya Urja Bhavan REGISTERED OFFICE 16th Floor. MAIN BANKER State Bank of India. 606. Ahinsa Circle. Mumbai-400 094. 3. C-Scheme. West Mambalam. Nehru Place. M/s. K-2. Uberoi Sood & Kapoor.
Chairman. Chairman & Managing Director. OUR MISSION Dr. 04 NUCLEAR POWER CORPORATION OF INDIA LIMITED . He is widely recognised across the world as a nuclear scientist par excellence for his contribution in the field of nuclear science and technology. being conferred the Honorary Doctorate (Honoris Causa) by Sathyabama University.Delivering a HIS VISION. Department of Atomic Energy. Shreyans Kumar Jain. Dr. NPCIL. Atomic Energy Commission and Secretary. Pratibha Patil. Tamil Nadu. Anil Kakodkar. being honoured with the Padma Vibhushan from the President of India.
In Operation Future Projects . the type of reactor is PHWR Map for representation purpose only.4120 MWe Under Construction . not according to scale. ANNUAL REPORT 2008-09 05 .Light Water Reactor Unless otherwise specified.Boiling Water Reactor LWR .2660 MWe 1X100 MWe 1X200 MWe 2X220 MWe 2X220 MWe 2X700 MWe 2X220 MWe NARORA RAWATBHATA 2X220 MWe 2X700MWe KAKRAPAR 2X160 MWe (BWR) 2X540 MWe TARAPUR LWRs JAITAPUR 3X220 MWe 1X220 MWe KAIGA 2X220 MWe KALPAKKAM 2X1000 MWe (LWR) LWRs KUDANKULAM BWR .
Delivering a NUCLEAR POWER LANDSCAPE Piercing the vast expanse of India are the 17 Nuclear Power Reactors operated by NPCIL across 6 States Tarapur Atomic Power Station Rajasthan Atomic Power Station Madras Atomic Power Station 06 NUCLEAR POWER CORPORATION OF INDIA LIMITED .
To coordinate and endeavour to keep the sustained association with other units of the DAE. q q q q q q q Kaiga Plant Site Narora Atomic Power Station Kakrapar Atomic Power Station ANNUAL REPORT 2008-09 07 . To continue and strengthen Quality Assurance activities relating to nuclear power programme within the organisation and those associated with it. To continue and strengthen the public awareness programmes for enhancing and improving the public perception of Nuclear Power in the country. To increase nuclear power generation capacity in the country. To develop personnel at all levels through an appropriate Human Resource Development (HRD) programme in the organisation with a view to further improve their skills and performance consistent with the high technology. q To maximize the power generation and profitability from nuclear power stations with a motto of "safety first and production next". consistent with available resources in a safe. environmentally benign and economically viable source of electrical energy to meet the increasing electricity needs of the country. economical and rapid manner in keeping with the growth of the energy demand in the country. q To share appropriate technological skills and expertise at national and international levels. To continue and strengthen the environmental protection measures relating to nuclear power generation.MISSION & OBJECTIVES To develop nuclear power technology and to produce Nuclear Power as a safe. To bring about modernisation and technological innovation in activities.
ABCI'S AWARD FOR NPCIL'S ANNUAL REPORT 2006-07.Delivering a RECOGNITION AWARDS AND ACHIEVEMENTS Tarapur Maharashtra Site (TMS) TAPS-1&2 has been awarded AERB Fire Safety Award for the year 2007 in Category-I jointly with Heavy Water Plant. At its 48th Annual Awards. Rawatbhata Rajasthan Site (RR Site) q RAPS-3&4 received the NPCIL award for “Excellent Performing Station for the year 2007-08”. q 08 NUCLEAR POWER CORPORATION OF INDIA LIMITED . NPCIL RR site personnel were presented “Certificate of Honour” by state authorities for carrying out the rescue mission during the collapse of Gapernath staircase incident . Association of Business Communicators of India (ABCI) selected the Annual Report 2006-07 of NPCIL in the Silver Trophy category. conferred by Director General Factories Advice Service & Labour Institute (DGFASLI). Government of India to NAPS. q q Madras Atomic Power Station (MAPS) q Narora Atomic Power Station (NAPS) q MAPS received AERB Industrial Safety Award 200809 under the category of Production unit. “National Safety Award Performance Year 2006” under Scheme No-II (Accident Free Year) Winner. Ministry of Labour & Employment. Kota. NAPS received “Sarvashreshtha Suraksha Puraskar” of NSCI Safety Award 2007. Mumbai. under Large Scale Manufacturing Group of Rajiv Gandhi National Quality Awards-2007. RAPS-1 to 4 received “Commendation Certificate Award” along with Silver Plaque.
Scheme-I)” from Ministry of Labour & Employment. in recognition of “Developing and implementing the highly effective Occupational Safety and Health Management Systems & Procedures and achieving very good performance in Occupational Safety and Health” for the assessment years 2004 to 2006. Runner up in the “Scheme-II of National Safety Awards” from Ministry of Labour & Employment for the year 2006. under Scheme No. Mumbai. Received the “Gujarat State Safety Award 2007” and “Certificate of Honour for Lowest Disabling Injury Index” from Gujarat Safety Council. National Safety Council has also awarded KGS with the "Prashansha Patra" under the NSCI award scheme for the manufacturing sector. Government of India. by India Trade Promotion Organisation. Ministry of Labour & Employment. q Kakrapar Atomic Power Station (KAPS) q q Winner in “National Safety Award (NSA-2006.q “Shreshtha Suraksha Puraskar Award (Category-II)” for the year 2007. Mumbai. from the National Safety Council of India. 1 (Lowest Average Frequency Rate) Joint Winner. q q First prize awarded to NPCIL's Pavilion at Enviro Tech'08. KGS-3 received the AERB Industrial Safety Award for the year 2008. q q ANNUAL REPORT 2008-09 09 . for the propagation of nuclear power as benign and eco-friendly solution to energy security. Government of India to NAPS. Kaiga Generating Station (KGS) q KGS-1&2 received the AERB Industrial Safety Award for the year 2007. conferred by DGFASLI. q “National Safety Award Performance Year 2006”. An employee of KAPS was awarded the “Vishwakarma Rashtriya Puraskar” from DGFASLI under Ministry of Labour & Employment for the year 2006. DAE has awarded KGS for the best Hindi in-house magazine.
07 2007 . It produces 3% of electricity for India. Government of India.09 17136 18633 16978 14927 10 NUCLEAR POWER CORPORATION OF INDIA LIMITED . it is leaping into the next orbit of building large scale reactors of 700 MWe capacity.693 Total Assets 21.08 2008. Its diverse competencies in the nuclear power arena have got international recognition.027 Networth 28.Delivering a OVERVIEW NPCIL . OUR INTRINSIC STRENGTHS (As on 31st March 2009) (Rs.05 2005 .145 Share Capital 10. Set up in 1987. in crore) 36.078 Total Fixed Assets 10. Continuing its incessant efforts.882 Reserves YEAR WISE ELECTRICITY GENERATION 20000 16707 15000 MUs 10000 5000 0 2004 .06 2006 .the premier nuclear power company in India. The PHWRs of NPCIL have found interest amongst nations wanting to enter nuclear power and having small grids. A nuclear power conglomerate. which is competitive in terms of cost as well as tariffs as compared to other sources. it is working under the aegis of Department of Atomic Energy (DAE). it holds the distinction of providing end-to-end solutions from site selection to plant life extension.
GROUPWISE STAFF STRENGTH Group D 4% Group A 32% Group C 34% CAPITAL EXPENDITURE (Rs. 2059 Crore for FY 2008-09) Ancillary Schemes 6% New projects 6% Kaiga 4 9% RAPP 5 & 6 7% Modifications in Operating Stations 6% Kudandulam 1&2 66% Group B 30% CONCRETING GROWTH Reserves & surplus grow by Rs. 12. from Rs.499 crore SUSTAINING STRENGTHS Revenue realization maintained at 99.9% Dividend payment maintained at 30% of net profit A competitive average tariff of Rs. 2.458 crore.12.30 per unit No Budgetary support from the Government of India DISTRIBUTION OF REVENUE Profit for the Year 11% Depreciation 19% Interest 13% Fuel Charges 16% Heavy Water Charges 11% Repairs & Maintenance 7% Other Operating Expenses 23% SOURCES OF FUNDS Domestic Borrowings 18% Equity 28% Reserves and Surplus 34% Projects 47% Power Bonds 6% ASSETS Stations 29% Net Current Assets 18% Russian Credit 20% ANNUAL REPORT 2008-09 11 .041 crore to Rs.
Operations In April 2002. bringing qualitative improvement in corporate accounts and working for raising resources for huge expansion plans.BOARD OF DIRECTORS Dr. he has worked towards increasing professionalism in the finance group. Distinguished Scientist of the DAE. KGS. he was appointed as the Senior Maintenance Engineer for the fuel handling unit at MAPS. At NPCIL. After completing his post graduation in Nuclear Engineering from the BARC Training School in 1969. Mumbai. he joined the O&M group at MAPS. Due to his unstinting efforts. He is on the Board of NPCIL since 6th August 2007. BHAVINI which has been set up for the construction and operation of India's first Fast Breeder Reactor. new LWR projects and so on. he joined the erstwhile PPED which was responsible for setting up and operating the nuclear power stations. He is a member of the AERB Advisory Committee on Design Codes and Guides and has participated in the preparation of a number of Safety Codes and Guides for the AERB. his career has been associated with nuclear fuel design and engineering activities. Gwalior. MTNL and BSNL in Gujarat. KGS-2 recorded a run of 529 days. His subsequent contribution to the design and construction of India's first Standard PHWR at Narora brought India at par with other advanced countries. he brought about both technical and organisational improvement at the Station. NPCIL appointed him as the Station Director. At BSNL. in-core fuel management. As the Chairperson of the Indian Atomic Industrial Forum. he was honoured with the WANO Nuclear Excellence Award during the Biennial General Meeting of WANO held at Chicago in September 2007. He became a member of the AECL team which successfully commissioned the first Heavy Water Reactors in Rajasthan. so far. such as the introduction of Corporate Accounting System at MTNL and BSNL and the computerisation of Customer Billing and Accounting at MTNL. technical and motivational skills. he joined the 19th batch of the BARC Training School. he introduced competitive tariffs and cash management systems. With his vast experience in the financial sector and vision. thus ensuring safe and reliable operation of the units. Since then. Dr.Bhardwaj. He received the Homi Bhabha Award for obtaining the first rank in his batch. Jain. diversification and competitiveness.Tech in Design of Mechanical Equipment. the President of India conferred on him a special citation for his outstanding contribution to the society. reactor components and nuclear safety. With this background. the longest achieved by an NPCIL unit. In the telecommunication sector. NPCIL on 3rd January 2004 and has steered the Company through its most eventful years. He is on the Board of NPCIL since 3rd Feb.Technical JAGDEEP GHAI Director . he has been awarded the NPCIL Unit Recognition Award for Outstanding Contribution and the Indian Nuclear Society Award 2001. The Indian National Academy of Engineers recognised his valuable contribution by bestowing on him its esteemed fellowship. began his career with the P&T Accounts and Finance Service of the Civil Services in 1980. WANO Technical Support Missions and optimisation of fuel supplies. He is a Distinguished Scientist of Department of Atomic Energy. Rajasthan and Maharashtra. is a Mechanical Engineer from Jiwaji University. he streamlined operating experience sharing. in the field of Science. after a short spell of teaching at the Degree level. KAPS and worked towards making it as the model NPCIL station by sustaining high performance. Dr. he had headed the finance units of DoT. He assumed the charge of CMD. In December 2006. like ECS and the internet Banking. he was posted at HQ as ED (Operations) and later elevated as Director (Operations). He is credited with several large scale initiatives. Jain with the additional charge of CMD. In 1975. New Delhi. shut down system design. At present he is Director (Technical) with responsibilities encompassing design. he was elevated to the post of the Chief Superintendent. RAPS-2 and MAPS.Finance Shri Jagdeep Ghai. 2005. Through dedicated initiatives.On completion of his training in 1976. he is also the recipient of Indian Nuclear Society Award. since February 2002. reactor physics. he was promoted and posted as Maintenance Superintendent. reactor core design. S. 12 NUCLEAR POWER CORPORATION OF INDIA LIMITED . respectively. He worked on the commissioning of the fuel handling system of both. He brought in several customer friendly methods of bill payment. 2005 in recognition of his meritorious scientific and engineering achievements. Shri Nageswara Rao is an Electrical Engineering graduate from Jawaharlal Nehru Technological University. G. Recognising his outstanding contributions towards the safety in the operation of nuclear power plants. He is also a member of the Advisory Committee for Project Safety Review. station performance reviews. NAGESWARA RAO Director . construction contribution in the field of nuclear technology. The DAE has entrusted Dr. obtained training in Nuclear Engineering from BARC Training School and joined the PPED in 1971. Nuclear Fuel Complex Board. the Company has touched unprecedented heights and has come to be known as one of the most successful companies in the country. In 1997. he has taken over the task of total engineering activities of PHWRs. In 2008. he has been successful in getting the best out of the industry and also gainfully showcasing the capabilities to the world. He has got professional training in Japan and USA. He became a figure of international fame on being elected as the President of the WANO in 2007 for his contribution to the world nuclear community. He contributes towards the management efforts in preparing and working towards the future vision of NPCIL in meeting the challenges of fast growth.K. a Mechanical Engineering graduate from Delhi University and M. Andhra Pradesh. S. For his services. at KAPS where he improved the productivity of manpower as well as equipment. SHREYANS KUMAR JAIN Chairman & Managing Director and procurement activities of PHWRs.A. Jain was a key member of the team which negotiated the contract with the Russians and later headed the LWR Directorate during the initial launching phase of 2x1000 MWe VVER units at Kudankulam. a Science graduate from Mumbai University with dual Post Graduation in Business Administration (Finance) and Political Science. He has been conferred with another Honorary Doctorate in 2009 by Sathyabama University. Jain was conferred an honorary Doctorate by the University of Mangalore for his outstanding Shri S. Besides. He is Fellow of National Academy of Engineers and Chairman. BHARDWAJ Director . In 1987. Dr. With his managerial. Jain has been a part of many national and international missions for the development of the nuclear industry. In 2000. He has been a visiting faculty to institutes of Management Studies for teaching Financial Management. During his tenure. from IIT.A. Chennai. he has been contributing as a Board member and Head of th Finance in NPCIL since 16 January 2006.
Therein. Tumkur and Bangalore Rural districts and as Chief Secretary of Uttara Kannada (Karwar) district. From 1994 to 1995. University of Cincinnati and the Ohio State University. former President of India for organisational innovations.A. P. inquire into grid failures and suggest remedial measures. Chennai. V. He has a long association with the DAE and its Units. Bangalore and Mumbai. He served for about 6 years as the Managing Director of two major infrastructure Corporations. costing over Rs. brought good name and fame to Corporation.D in metallurgical engineering by IIT. He is on the Board of NPCIL since 11th Dec 2008.Sc examination and secured 2nd rank in the M. His work has also provided a basis for developing a novel fabrication schedule for the pressure tubes used in the Indian PHWRs. He is also an ex-officio member of CERC.P. Bhakra Beas Management Board. Kharagpur and was trained at the BARC Training School before he joined BARC. Sciences (1989). e-recruitment.Joshi has an outstanding academic career. besides induction of over 1. He was Convener of Working Groups set up by the Government of India to prepare guidelines for inter-regional power exchange.J. electricity boards of the Northern and the Western regions. He joined Indian Administrative Service in 1978 and has worked as Deputy Commissioner. He is the recipient of 5 gold medals.R. He has been instrumental in clearance of Cadre Review proposal.000 crores to the nation by the President of India. he has received many awards. a commerce graduate from Loyola College. as an officer and worked there for 6 years. He was the Managing Director of Karnataka Handloom Development Corporation for 4 years and was responsible for its turnaround.Sc. RAKESH NATH Director ANNUAL REPORT 2008-09 13 . accounting. In this capacity. He has been a part of the Committees appointed by the Government of India to He has held some visiting positions overseas. S. Kharagpur on the basis of the work carried out by him in the first few years of his career at BARC. The entire career of Shri Rakesh Nath spanning over 3 decades has been shaped up in the various organisations of the power sector in India such as CEA. USA (as Visiting Faculty). He joined DAE in December ’08 and has been pushing several proposals for meeting the challenges thrown by international civil nuclear co-operation. which is considered as a role model. He turned the Power Trading Corporation into a profit earning Company. sites of expansion of Nuclear Power Projects are at the top of his agenda. Sadasivam.500 new buses. He last held the post of the Controller of Defence Accounts (R&D) at Bangalore. The speedy approvals/clearances of new projects.10. NTPC. which were pending for a long time. He played important role in the introduction of PRIS and its extension to NPCIL/BHAVINI. he was responsible for the payment. He received the ‘Gold Trophy’ from Dr. He has a rich experience of about 12 years as Managing Director of PSUs. Therein. New Delhi. and so on. Shri Rakesh Nath was appointed as Chairperson. He is on the Board of NPCIL since 8th Oct2004. Max-Planck Institut fuer Metallforschung.(Physics) Examination of Lucknow University. He topped in B. Abdul Kalam. In 2007. He later joined the Indian Defence Accounts Service in 1981 and has served in Meerut. He joined Karnataka State Road Transport Corporation in October ‘06. UK.P. Shri V. contactless passes for the students. He has served as the Chairman of the Bhakra Beas Management Board . Power Trading Corpn. Banerjee is the Director of BARC and has nearly 40 year's research experience. He has visited Pakistan and Nepal to promote power trade. He is on the Board of NPCIL since 3rd Nov2005. initiatives like introduction of e ticketing.Tech in Metallurgical Engineering with first class honours from IIT. basic as well as application oriented. CEA in October 2005. including prestigious Meghnath Saha gold medal from the President of India for his academic distinctions. such as the University of Sussex. Germany (as Alexander von Humboldt Foundation Fellow and Awardee). Shanti Swarup Bhatnagar Prize in Engg. Banerjee obtained his B. Stuttgart and Forschungszeutrum Juelich. His comprehensive work on the physical metallurgy of zirconium alloys is widely quoted in scientific literature. he joined the DAE on the post of the Joint Secretary (Finance). He is on the Board of NPCIL since 18th July 2007. In recognition of his contribution to research.Institut fuer Physik. He is one of the leading experts in materials science and technology in the country and has made outstanding contribution to many materials related areas. SADASIVAM Director SRIKUMAR BANERJEE Director Dr. Indian Nuclear Society (INS) Award (2003) and Padma Shri (2005). He was awarded the Ph. Madras. A. Presently. Notable amongst them are National Metallurgists' Day Award (1981). joined a nationalised bank. the largest hydro complex in the Northern region. audit and financial advisory services to the DRDO labs in the South. Brighton. Dr. he played a major role in speeding up the ongoing major irrigation projects and in particular for completion and dedication of the Upper Krishna Project. Shri Rakesh Nath attended courses in power system operation & control in UK in 1984 and in Sweden in 1993. he has worked with the IGCAR and with BARC from 1998 to 2002.R. JOSHI Director Shri A. Notable among the international awards are Acta Metallurgica Outstanding Paper Award (1984) and Alexander von Humboldt Research Award (2004).
Petroleum & Gas. procedures and designs which have resulted in a considerable reduction in gestation period of the Transmission System Projects. Several papers authored by him have been published in national and international journals and fetched him great acclaim. Shri Sethi is on the Board of NPCIL since 28th Jan2003. Shri Sethi joined the International Finance Corporation (IFC). transmission and distribution projects in India and abroad. conceptualization.BOARD OF DIRECTORS Shri H. the private sector arm of the World Bank. EU. London. He joined the Power Grid Corpn. In NTPC. Executive Director (Commercial) and Executive Director (HR & CC) of PGCIL. Planning Commission in the rank of Permanent Secretary to Government of India. Coal. (NCL). Later on. etc. he worked as Executive Director (Corporate Contracts). At Haryana State Electricity Board. He is recipient of various National and International Awards. Shri Sethi joined the Government of India in 2001. he was Chairman. Indian National Academy of Engineering and All India Management Association. a subsidiary of NTPC Ltd. Switzerland with a Board position. UK. After completing Electrical Engineering from Mumbai IIT and BITS Pilani. During this period. Bajaj is Technical Member in the Appellate Tribunal for Electricity. feasibility study. His worldwide experience covers enterprises and utilities in the private and public sector. multilateral and bilateral agencies. Engineering 2006. He has been instrumental in increasing the efficiency of Corporate Engineering by introducing the concept of standardization in systems. He played a key role in promoting power sector reforms.Tech in Systems & Management from IIT. Shri Sethi also assisted the Prime Minister's Council in developing India's Climate Action Plan and as a core negotiator has led India's negotiations and presented India's case at the Intergovernmental Panel on Climate Change (IPCC). the CSD dialogue at the UN. He evolved nationwide consensus for the adoption of 800-1000 MW super critical technology units. a Joint Venture Company of NTPC Ltd. he has been awarded “Eminent Engineer Award” by Institute of Engineers (India) in the year 2006. P. H. He has been on the Board of NPCIL since 27th Sept2006. In his current assignment. he was associated with civil and structural design of 200 MWe and 500 MWe Thermal Power Plants. Shri Sethi coordinates the plans and policies of six Ministries that include the five energy ministries (Power. West Bengal Power Development Corporation Ltd. India. He served NTPC for 15 years and was responsible for various facets of Super Thermal Power Projects and Operating Stations. SETHI Director Division. Later on. he was instrumental in accelerating rural electrification by adopting innovative construction and management techniques which resulted in 100% rural electrification of Haryana.. Ministry of Power since 2002 where he brought about structural changes required within CEA and initiated action for its massive technological and qualitative upgradation.(PGCIL) as General Manager (Engineering) and was elevated to the post of Executive Director (Engg. infrastructure. a graduate in Mechanical Engineering is a power engineer of repute with rich and varied experience of more than thirty eight years in the areas of project planning.L. In a career spanning 35 years Shri Sethi has worked in some 30 countries worldwide in the field of energy. He has also been nominated as Director on the Boards of Damodar Valley Corporation (DVC). a graduate in Civil Engineering from Delhi University and an M. he has held important positions including Executive Director of National Capital Region. of the transmission systems of various voltage levels as well as quality assurance and inspection of product & services. During his stint with the CEA and NTPC. he was associated with system planning. the first state to achieve such distinction in 1970. and is a permanent invitee on the Board of Northern Coalfields Ltd. SURYA P. he joined NTPC. He is on the Board of NPCIL since 8th Oct2004. Before this. design and engineering ANAND MOHAN Director Shri Chandan Roy. the E-7 Group and a number of bilateral Energy and Climate Forums with the US. the United Nations Framework Convention on Climate Change (UNFCCC). he worked with Babcock & Wilcox. During his stint of 14 years with BHEL. Institution of Engineering and Technology. CHANDAN ROY Director 14 NUCLEAR POWER CORPORATION OF INDIA LIMITED . design. engineering and operations. the Institute of Electrical and Electronics Engineers (IEEE). Presently.L. In recognition of his expertise in the area of power plant design. he led engineering teams for turnkey generation. Of India Ltd. (GAIL) and was instrumental in the successful revival of the abandoned project. New Delhi began his career in the Central Water Commission and during this tenure. He is on the Board of NPCIL since 3rd Jan. Prior to joining NTPC in 1977. He has also been the founding Chairman of Ratnagiri Gas & Power Private Limited (part-time). capital markets and multiple industrial sectors. Sethi is the Principal Advisor (Energy). BAJAJ Director Shri S. Atomic Energy. infrastructure and climate change issues at academic institutions and think tanks around the globe. (WPDC) and NTPC Vidyut Vyapar Nigam Ltd. UK. Shri Sethi did his MBA from IIM Ahhmedabad. Central Electricity Authority and ex-officio Secretary to the Government of India. the preparatory and follow up meetings of the G-8 dialogue. at Washington DC in 1984 and rose to become Chief Investment Officer at IFC. he was on deputation to the Central Electricity Authority (CEA). Shri Sethi has lectured extensively on India's energy. Shri Sethi started his career in 1974 in the Tata Administrative Services and rose to head International Projects at Tata Enterprises Overseas in Zug. and Gas Authority of India Ltd.& QA & I). governments and non-governmental organisations. he is Director (Operations) in NTPC and he is also the Chairman of Bhartiya Rail Bijli Company Ltd. 2002. commissioning and generation. Shri Sethi services the Prime Minister's Energy Co-ordination Committee and wrote the Integrated Energy Policy of India in Shri Anand Mohan. Non-Conventional & Renewable Energy) and the Climate Change component of the Ministry of Environment. USA. UK & Japan. Shri Bajaj is Fellow of Institute of Engineers.
K. He has held the posts of the Head. 2005. With over 36 years of distinguished service to the State Bank of India (SBI). he has held a variety of critical and challenging assignments in the banking sector and executed them with excellence. in Nuclear Physics. Himachal Pradesh. He is also member of the Research Council of NEERI.Dr. As his offshore postings. air and water quality monitoring.S. Bhattacharya was entrusted with the crucial portfolio of Commercial Banking in the northern states of Punjab. he has worked at SBI Office. G. and headed the Representative Offices of SBI at Jakarta. in this capacity he has looked after departments such as Retail Banking. Shri. Netherlands. State Bank of Indore. Shri Bhattacharya has made a mark in the field of banking and finance. at the Corporate Office.T.K. Singapore. T. industrial pollution control. Haryana. he has held the post of MD. At its Corporate Office.D in Chemistry and a Post Graduate Diploma from the International Institute for Infrastructural Hydraulics and Environmental Engineering. Prior to this. Indonesia. PANDEY Director He holds the post of an Adviser in the Ministry of Environment and Forests (MoEF). Nagpur. PAI Company Secretary ANNUAL REPORT 2008-09 15 . Bhattacharya is on the Board of NPCIL since 8th May 2008. AGRAWAL Director . State Bank of India on 28th February. Associate of Saha Institute of Nuclear Physics and a Post Graduate in Management Studies. Shri. S. since 1969.HR UMESH CHANDRA Senior Executive Director SUDHINDER THAKUR Executive Director SRIKAR R. Apart from his comprehensive exposure to national banking. occupational and environmental health. BHATTACHARYA Director PERMANENT INVITEES V. G. He is the Chairperson of the Task Forces on Fertilizer Plants and Chlor-Alkali Plants constituted by MoEF. environmental impact assessment. He is on the Board of NPCIL since 24th May 2005. Pandey has represented India on the international platform and presented papers on different aspects of the environment several times. Marketing and Product Development. Bhattacharya brings with him a varied and significant experience in international banking. Dr. He is a member of the Delhi Pollution Control Committee.C.Bhattacharya is M. Mr. and Jammu & Kashmir. Mr. an Associate Bank of the State Bank Group.Sc. In his career spanning over three decades. Pandey holds a Ph. International Merchant Banking and the International Correspondent Departments. he has held the position of the Chief General Manager. He has a comprehensive experience spanning three decades in environmental pollution control. He was appointed Managing Director.
the average availability factor of 80% was quite satisfactory. planning for organisational restructuring and laying down a road map for the future. On introspection. Despite the fact that production was limited and profits were lower. realigning priorities.Delivering a CHAIRMAN'S STATEMENT Dr. With reasonable pride. In all earnest. S. immense satisfaction and great hope for the future. K. The production of the units was tuned to match the short fuel supply. 16 NUCLEAR POWER CORPORATION OF INDIA LIMITED . Welcome to the 22nd Annual General Meeting (AGM) of your Company. we plan to pay the dividend to the Government of India. we have endeavoured to deliver the trust you reposed in us which gave us the strength to face the situation realistically. I look forward to this occasion year after year. Nonetheless. Jain Chairman & Managing Director Ladies and Gentlemen. I wish to state that inspite of a continued stretched environment. wherein I get an opportunity to apprise the progress and growth of the Company in your august presence. I have arrived at the conclusion that the Company has utilised these lean years to strengthen itself by self evaluation. the year goneby can be considered good from an operational perspective.
Apart from speeding up new construction. At the same time. With regard to fuel availability. we intend bringing other pre-decided units also gradually under IAEA safeguards as per the separation plan. we are operating seventeen units and have five units under construction. the refurbishment of existing units at Rajasthan-2. both on the domestic as well as the overseas front. Kaiga and Kudankulam was enhanced to complete them at the earliest. it shall get into the production mode shortly. our tenacity and resilience have yielded results. Simultaneously. Today. Additional two sites for the launch of four more 700 Mega Watt units in the current five year plan are under active consideration by the Government of India. thus enabling We commence our journey towards creating a multiplier effect in nuclear power capacity enhancement of the country. For the purpose of scaling up the nuclear power plant capacity. I attribute this achievement to the efforts of our dedicated team. twenty years down the line. which are not planned to be brought under the safeguard.Two decades ago. we were operating only six units and constructing four additional units. the pace of new power plants' construction at Rajasthan. Therefore. thereby putting the realisation of Homi Bhabha's vision on the fast track and sound footing. Then. Another milestone that we have surpassed is that our units at Tarapur-1&2 completed forty years of successful. we forsake the aim of mere addition of nuclear capacity for power generation in the country. clearly demonstrating how a different technology could be managed well. Instead. On the domestic front of Pressurised Heavy Water Reactor (PHWR) programme. NPCIL was born to make a difference. Kakrapar-3&4 site has been cleared and Rajasthan site is under active consideration of the Atomic Energy Regulatory Board. the design of 700 Mega Watt (MWe) plant is ready which is planned to be executed at the Kakrapar and the Rajasthan sites. Long delivery items have been ordered for both the above stated plants. The construction of units at Kaiga and Rajasthan has been brought to a level of completion where they can start production as soon as fuel is available. The work at these sites is likely to be launched this year with ground break. thereby putting the realisation of Homi Bhabha's vision on the fast track and sound footing. Uranium fuel is now available from overseas and has started arriving at the site for use in Rajasthan-2 which is already under IAEA safeguard. the domestic Uranium fuel production is improving and shall be available to increase power generation by other units. so that the fuel available from imported sources can be used in these units under safeguard. Narora-2 and Kakrapar-1 has been taking place at full swing which shall soon bring them at par with the newly constructed reactors. ANNUAL REPORT 2008-09 17 . its units under operation demonstrated improved performance characterised by very long continuous operation of reactors thereby setting new industry standards in the country. safe and reliable operation. we commence our journey towards creating a multiplier effect in nuclear power capacity enhancement of the country. Now. At this juncture. your Company is on the threshold of taking off to greater heights and to make a noteworthy difference.
18 NUCLEAR POWER CORPORATION OF INDIA LIMITED .Delivering a CHAIRMAN'S STATEMENT the launch of eight units of 700 Mega Watts in the country in current five year plan. Activities related to land acquisition at the Jaitapur site are being pursued. Clearance from the Ministry of An Inter-Governmental Agreement has also been signed between the Government of India and the Russian Federation for the setting up of four additional units at Kudankulam site. Initially. and Westinghouse Electric Company. Further. which will have multidimensional benefits to your Company.generators of matching capacities. a Memorandum of Understanding (MoU) has been signed with Bharat Heavy Electricals Limited for forming a joint venture for acquiring appropriate technology. Initiatives by the Government of India have made civil nuclear co-operation now a reality. First stage clearance from the Ministry of Environment has been obtained. is being discussed. Environment has been received. General Electric Hitachi. United States of America. Your Company is working towards collaboration with reputed nuclear vendors to accelerate the growth of nuclear power within the country and to add large sized Light Water Reactors (LWRs) to quickly add generation capacities in India. MoUs have been signed with AREVA. United States of America. site grading and leveling has been completed and efforts shall be made to launch the construction of Kudankulam 3&4 in the next year. At present. and Westinghouse Electric Company. France. France. At present. in a phased manner. United States of America. the setting up of two units of 1650 Mega Watts electrical reactors by AREVA with a provision for subsequently setting up of six units at Jaitapur sites in twinunit construction mode. it also gives your Company an opportunity to become an international player. While such an initiative will increase possibilities of import of plants and nuclear material from overseas vendors and associated commerce. to assure timely availability of turbo. General Electric Hitachi. MoUs have been signed with AREVA. the technical and commercial components of the projects are being worked out jointly. United States of America. An Inter-Governmental Agreement has also been signed between the Government of India and the Russian Federation for the setting up of four additional units at Kudankulam site.
approval and adoption.000 million Kilo Watt hours by next year. while maximising the production to meet nation's electricity demand. both on the domestic as well as the overseas front. Members on the Board of the Company have made immense contributions. electricity boards and various ministries of the Government of India. I am sure that with continued support of the Department of Atomic Energy and its units. Being the national utility company operating nuclear power plants. we proudly record our culture of an overriding priority to nuclear safety and fostering the “Parivar” (extended family) culture within the Company which has made this company unique. Your CMD continued to lead World Association of Nuclear Operators (WANO) as its President. Finally. K. Uranium fuel is now available from overseas and has started arriving at the site for use in Rajasthan-2 which is already under IAEA safeguard. we will be able to increase production of your Company to about 22. It is for the first time that the who's-who of the nuclear industry worldwide shall assemble in India at the WANO Biennial General Meeting being organised by NPCIL in January 2010.With regard to fuel availability. The organization of such a high level meeting could not have been more opportune and befitting than at this time when we are moving beyond the differential threshold in the nation's nuclear history. which are not planned to be brought under the safeguard. provided able guidance and encouragement for the all-round improvement in the functioning of your Company. It's now time that I move on to the Director's Report. Balance Sheet as on 31st March 2009 and Profit and Loss Account for your consideration. our tenacity and resilience have yielded results. the domestic Uranium fuel production is improving and shall be available to increase power generation by other units. JAIN) Chairman & Managing Director Mumbai Date: August 1 2. Simultaneously. we have participated in the preparation of the national report for contracting parties of the Convention of Nuclear Safety to demonstrate fulfillment of the primary responsibility and obligation of maintaining safety as overriding priority. The Company has complied with the corporate governance guidelines issued by the Authorities. (S. 2009 ANNUAL REPORT 2008-09 19 . The safety record of 300 reactor years of long operating experience has been well recognised.
The creator of the 3. the On the International Platform .Stage Nuclear Power Programme of India. Whether he is termed as Maslow's “transcendental personality” or India's Leonardo da Vinci.Nation's scientific leader sharing a platform with national leadership Reminiscing Homi Jehangir Bhabha (1909-1966) is a journey into the past. By now. Homi Bhabha was endowed with exceptional ingenuity. He has scripted the nuclear path to energy security and progress of India which is so impeccable in design that it did not need revision. Geneva (1955) 20 04 NUCLEAR POWER CORPORATION OF INDIA LIMITED . This onward march is expected to lead India to greater heights of industrial and technological achievement. for his contributions. he seemed to have been pre-destined to show the path of progress to the nation and be cherished by posterity. Born in the preindependence era. scientific temperament and excellence.Delivering a HOMI BHABHA Architect of a Historic Future Homi Bhabha . with futuristic value. NPCIL has already managed to master the first stage of the programme and the country is now stepping into the second stage of the programme.Bhabha at the 1st International Conference on Atomic Energy for Peaceful Uses. he was surely a man born with a vision way ahead of his times. For him.
Trombay. he continued work at Cambridge. Even racial differences paled into oblivion before his brilliance and charisma. Bhabha published 66 papers in his short span as a researcher. Enrico Fermi.D. his country. undoubtedly. ANNUAL REPORT 2008-09 21 . In addition to the unique intellectual gifts nature had bestowed on him. Homi was one of those who made me believe that some men in human history are born with the stamp of predestination on them which leads them to accomplishments beyond ordinary human capabilities. D. And he transformed from a researcher to a builder of scientific institutions . He held a firm conviction that provided proper appreciation and financial support are forthcoming. R. A trail blazer in the field of academics and scientific research. Homi Bhabha. The rich legacy that generations have inherited from Homi Bhabha is unfolding before our eyes . what he could be. relentless energy and drive to convert his vision into reality. based on science and technology. he soon found himself bonding with life beyond particles. Elphinstone College and Royal Institute of Science in Mumbai brought forth his incisive intellect and a disciplined mind ready to leap into the scientific universe. veered into the field of theoretical physics. now called Bhabha Atomic Research Centre . . At Cambridge. After completing his Ph. Homi's early education at the Cathedral and John Connon School. Highly recognised for his cosmic-ray researchBhabha-Heitler effect of cosmic showers. Devoting himself to “growing science” at the Indian Institute of Science. he became accomplished in science. pay homage to this great visionary scientist's spirit and rededicate all our efforts to realise his vision. Bhabha Scattering and nuclear physics.The most outstanding of the distinguished men I have known was. In his pursuit to be. Tata canvas of life was much larger than it is for most of us. he was termed as a world citizen. painting and literature. for India. On his 100th birthday. Wolfgang Pauli. Homi's contribution epitomises a fusion of the creative human intent with nuclear fission. Neils Bohr and the like. The nuclear scientific community and the entire nation salutes the “Father of Indian Atomic Energy” for drawing out the energy lying within the nucleus of an atom to energise development for the sustenance of humanity. mathematics. it is the duty of people like us to stay in our own country and build up outstanding schools of research such as some other countries are fortunate to possess. having completed Mechanical Sciences Tripos. He is the founder of Tata Institute of Fundamental Research (TIFR) and Atomic Energy establishments.to appreciate and emulate. at NPCIL. Bhabha. there welled up a vision of economic prosperity and social change. In his consciousness. such as Paul Dirac. out of his choice and passion. He worked with the best minds of the era.J. on the scientific pedestal. he was …a visionary with the boldness. music. Bangalore. The turning point in his life came on the outbreak of World War II (1939). we. he went on to win the most prestigious scholarships. due to which he had to stay back in India.to put India.
is Madras Atomic Power Station (MAPS) which commemorated its silver jubilee this year. 210 MWe each then. India stepped into the field of nuclear power operations with the twin BWRs. Both the nuclear power stations have been upgraded and aligned to present levels of advanced technology and safety standards. MAPS is hailed as the first embodiment of indigenisation. at Tarapur. By 1969. in stark contrast to the average age of 18 years for NPCIL stations. USA in 1963 for the construction and commissioning of 2 Boiling Bhabha addressing the press conference on Tarapur Power Project (1963) Water Reactors (BWRs) at Tarapur. A model of longevity. Macro Efforts It is a year of celebrations.Delivering a CHARTING THE COURSE Nuclear Dreams. Together.000 million units of electricity till date. which have produced 77.Tarapur Atomic Power Station (TAPS) has completed 40 years of operations. It was this project which gave India its first experience in project management and operation of nuclear power plants. 22 NUCLEAR POWER CORPORATION OF INDIA LIMITED . In its footsteps. Bhabha clearly foresaw Pressurised Heavy Water Reactors (PHWRs) as the appropriate option for India to kindle the 3-Stage Programme. Our very first nuclear power plant . TAPS epitomizes the strength of NPCIL. TOWARDS INDIGENISATION Following TAPS. TAPS and MAPS represent the transformation of Bhabha's dream into concrete reality. TURNING POINT With the signing of the turn-key contract with General Electric. India embarked on a journey to nuclear power.
while foreign collaboration can play the part of a booster. In parallel. was marked by Indian ingenuity. A booster in the form of foreign collaboration can give a plane assisted take-off and be capable of independent flight.The relative roles of indigenous science and technology and foreign collaboration can be highlighted through an analogy. Dr. the Indian industry imbibed a precious new skill-set and a comprehensive Indian nuclear industry evolved. Alongwith the building of MAPS. ANNUAL REPORT 2008-09 23 . construction and commissioning. indigenisation of the same was conceived at MAPS. Nuclear Scientist. the 2 nuclear power plants at Madras Atomic Power Station (MAPS 1&2) attained criticality and were synchronised to the grid in 1983 and 1985 respectively. indigenisation and meticulous workmanship. contemporary of Bhabha with National Leadership – Homi Bhabha Thus came in RAPS with the help of Atomic Energy of Canada Limited (AECL). its design. it must be powered by engines of its own. Vikram Sarabhai. Conceptualised by Bhabha as early as 1965. Indigenous science and technology plays the part of an engine in an aircraft. The entire project.
120 MWe. Nuclear Power Plant RAPP 5 RAPP 6 Kaiga 4 KK 1 KK 2 Reactor Type PHWR PHWR PHWR PWR PWR Capacity (MWe) 220 220 220 1000 1000 24 NUCLEAR POWER CORPORATION OF INDIA LIMITED . We still have a long way to go. With untiring efforts towards indigenisation. On the threshold of completion are the following nuclear power plants which will take our nuclear power capacity to 6. NPCIL has attained high degree of expertise in implementing the technology for Boiling Water Reactors (BWRs) of 160 MWe as well as that for Pressurized Heavy Water Reactors (PHWRs) upto 540 MWe.Delivering a ARRIVING INTO THE FUTURE Big Dreams. ON THE THRESHOLD Striving to implement the 3-stage nuclear blueprint laid out by Bhabha and to enhance the contribution of nuclear power to the entire pool of India's energy. Nuclear Reality Having diligently built and successfully operated 17 small and mid-size reactors over the past 4 decades.780 MWe in the very near future. we have accomplished the present capacity of 4. we are continuously building capacity.
For the full industrialisation of the underdeveloped countries, for the continuation of our civilisation and its further development, atomic energy is not merely an aid, it is an absolute necessity. The acquisition by man of the knowledge of how to release and use atomic energy must be recognised as the third epoch of human history. – Homi Bhabha
MOVING UP THE SCALE In a bid to move on to the next scale of operations, we have come up with an indigenous design for 700 MWe PHWR. Execution of this design will capacitate India to be in league with major global nuclear power producers using similar technology of heavy water reactors. We have already received the in-principle approval of the Government of India. The sites selected for setting up 4 units of 700 MWe PHWR are Kakrapur in Gujarat (KAPP-3&4) and Rawatbhata in Rajasthan (RAPP-7&8). Subsequently, an addition of 4 more 700 MWe PHWRs has been planned. With its execution, an addition of 8 X 700 MWe will be enabled.
PLANNED MOVES In addition to being steadfast on our indigenous nuclear power programme, we have garnered international co-operation for the establishment of nuclear reactors of 1000 MWe and higher.
ANNUAL REPORT 2008-09
ENGAGED WITH THE WORLD
The Indo-US civilian nuclear deal signed in 2008 has thawed the nuclear freeze imposed on India and has opened global opportunities for us, both technical and commercial, in the field of nuclear power. India has, for long, nurtured the vision of energising the industrial development of the country with nuclear power. To fuel its engine of development, India has now taken up the mission of nuclear power with even greater intensity. Simmering with the intense desire and determination to add capacity for nuclear power generation, NPCIL, the
Signing of MoU between NPCIL and Westinghouse Electric Company (WEC), USA
face of nuclear power in India, is in discussion with the most prominent international providers of nuclear power technology, equipment and services. EMERGING VISTAS Along with its indigenous nuclear power programme of scaling PHWRs to 700 MWe, NPCIL is gaining momentum to move into higher orbits by building and commissioning reactors of 1000 MWe and higher unit size for which it is actively seeking international co-operation. Today, as
NPCIL's Top Management in discussion with high level delegation from Russian Federation led by Head ROSATOM
NUCLEAR POWER CORPORATION OF INDIA LIMITED
It is now patent that without science and technology we cannot progress. We should realise how modern life is an offspring of science and technology. If modern life depends so much on science and technology, then we must seize hold of them, understand them and apply them. – Homi Bhabha
Signing of MoU between NPCIL and AREVA, France
the winds of change have begun to blow over the terrain of Indian nuclear power, NPCIL is being ably propelled in the direction of greater capacity attainment. STRATEGIC STROKES Simultaneously, NPCIL's PHWR designs are being sought after by nations stepping into the arena of nuclear power. NPCIL is also seeking co-operation on various front-end activities of the fuel cycle such as JVs in mining for natural uranium abroad.
Signing of MoU between NPCIL and General Electric Hitachi (GEH), USA
ANNUAL REPORT 2008-09
marks the beginning of a nuclear epoch for India. we are making optimal use of our existing resources. without any further financial support from the Government of India since the last five years.78.000 crore from the Indian market at competitive rates. A confident and energetic organisation that NPCIL is. FACING TOUGH REALITIES Responding to the call for leadership in this time of tumultuous change. we are minimising costs and maximising benefits. safety performance and environmental impact (ISO 14001 compliant). 28 NUCLEAR POWER CORPORATION OF INDIA LIMITED . Till date. ON THE OPERATIONS FRONT Having overcome initial design challenges and a nascent industry base. We have learnt to expect the unexpected on every turn and confront varied situations. finance and business development. technology development. we have been able to fund our operations and expansions through our internal accruals. ON THE FINANCIAL FRONT With a cash surplus of Rs. Maintaining a well balanced mix of debt to equity on a 70:30 ratio. 12. Through our prudent financial management. today. For tapping the economies of scale.000 crores. we are amongst the few financially healthy and forward looking players within the power generation business. we are linking with the outside world for making substantive progress in the near future. we have evolved by leaps and bounds in compressing the gestation period for greenfield projects to around five years through efficient project management strategies. we plan to tap the Indian markets on a continual basis. with a clinical look at aligning all the facets of the company. The Government of India is our sole equity stakeholder. The operational excellence of our plants is reflected in a marked reduction in the number and duration of outages. making nuclear power economically competitive with conventional coal-based thermal power generation. which it mastered long ago. our capacity to raise debt funds has remained unimpaired despite trying times. Our perseverance has seen us through many obstacles and has made us a resilient force towards realising Bhabha's dreams. the new nuclear power plants of 700 MWe size and above have been strategically planned at selected locations in India. It offers an opportunity to establish partnerships with companies in the nuclear power industry world over.Delivering a HIGHLY ADAPTIVE MANAGEMENT On the Untread Path Our journey towards becoming a nuclear powered nation has indeed been exciting. we have picked up a total debt of Rs. it has already begun forging such alliances for the dual purpose of expanding and upscaling its activities and exporting technology of small and medium size reactors. ON THE INTERNATIONAL FRONT The signing of the civilian Indo-US nuclear deal. With diverse parts of the nuclear power business coupled to one another more tightly. For funding our current projects. By revitalising the old nuclear power plants through repairs and modernisation. including operations. record continuous operations by our nuclear power plants.
Further. fabrication. we are also now in a position to leverage the global sourcing option thanks to the move towards open co-operation by international players with India's civilian nuclear programmes. Over the years. Improved capacity utilization and recent addition in the number of nuclear power plants at a fast pace have led to a temporary demand-supply mismatch of fuel from domestic sources. The administration of scientific research and development must necessarily be done by scientists and technologists themselves. Apart from being more involved in shaping the domestic nuclear fuel supply scene. we have encouraged the private sector to participate in construction. acquiring stakes in several uranium mines abroad is another consideration. Currently we are exploring the possibility of buying “the yellow cake” at competitive rates from the international market. international markets are no more forlorn destinations beyond our reach. the fuel for our nuclear power plants. They are now valued designers. For the Kudankulam project specifically. SCOUTING FOR FUEL SUPPLY In the earlier years. vendors and service providers to our ecosystem. The skills. .Homi Bhabha CARRYING THE INDIAN INDUSTRY ALONG Fully aware of the need to grow nuclear power rapidly. NPCIL bore the cost of maintaining a large inventory of uranium. give us the confidence to be bold yet prudent and pragmatic in the present times. we resolved the issue of fuel supply for its life-long needs by signing a perpetual supply contract with the Russian Federation. With the signing of the Indo-US nuclear deal and the NSG waiver. which should fill the immediate supply gap to a great extent. and supporting the operations in many areas. ANNUAL REPORT 2008-09 29 . we have not limited the arena of nuclear power to ourselves.The type of administration required for the growth of science and technology is quite different from the type of administration required for the operation of industrial enterprise. We have recently entered into several MoUs with organizations such as BHEL and NTPC for playing significant roles in the nuclear power development of India. which we have built over the years.
Uranium. the international co-operation agreements have paved way for NPCIL to buy uranium from the international uranium market. The imported uranium will be used in nuclear power plants under IAEA safeguards in accordance with the Separation Plan. in recent years. 5 under construction and many more in the planning stage. fuel for Nuclear Power Reactors Narora Atomic Power Plant 1 & 2 30 NUCLEAR POWER CORPORATION OF INDIA LIMITED . ADVENT OF A NEW ERA The international developments usher an era of international nuclear trade for India as never before. As India continues to excavate its indigenous mines in Jharkhand and develop others at Andhra Pradesh and other places in India for uranium. there is a large demand for fuel to operate the nuclear plants at optimal levels.Delivering a PLANNED FUEL SUPPLY Securing Our Future Uranium is required as fuel to implement the first stage of the 3 Stage Nuclear Power Programme devised by Homi Bhabha. but also intends to negotiate for stakes in uranium mines abroad. India is not only making direct purchases of uranium. India is aiming at developing comprehensive fuel fabrication facilities so that this front-end fuel cycle activity for all LWRs can be taken care of. Also. the "Yellow Cake". Taking big and rapid strides in the development and commissioning of nuclear power plants. To ensure the supply of fuel for the entire life-time of reactor operations. Consequently. NPCIL has 17 reactors in operation.
technology. And we have in our own time seen the history of the world shaped by those countries which have made great scientific progress. . . raw material and capital.The key to national prosperity. Science has at last opened up the possibility of freedom for all from long hours of manual drudgery and today we stand at the beginning of an age when every person will have the opportunity to develop himself spiritually to his fullest stature. in the effective combination of three factors. since the creation and adoption of new scientific techniques can. and reduce the demands on capital. lies in the modern age. Science forms the basis of our whole social structure without which life as we know would be inconceivable.Homi Bhabha A Panoramic View of MAPS 1 & 2 The pursuit of science and its practical application are no longer subsidiary social activities today. apart from the spirit of the people. in fact. make-up for a deficiency in natural resources.Homi Bhabha ANNUAL REPORT 2008-09 31 . of which the first is perhaps the most important.
(BHEL). for working together to set up nuclear power plants in India. NTPC Limited is the country's largest power generator. and explore and evaluate the various technology options available for Steam Turbine Generator sets of 700 MWe rating and above. BHEL. have inked a Memorandum of Understanding (MoU) with it. NTPC.Delivering a PARTNERSHIPS AND ALLIANCES Co-creating Energy Against the backdrop of the growing Indian economy. imperative to forge ahead partnerships and alliances and accelerate the process of power generation. NPCIL has joined hands with many organisations to attain its goal with the resulting synergy. Our partners in the co-creation of energy are namely. NPCIL and NTPC Top Management exchanging the Signed MoU in the august presence of Shri Jairam Ramesh. we. at NPCIL. therefore. energy needs of the country are growing in leaps and bounds. our partner in technological upgradation and manufacturing equipment since 1970. We have signed an MoU with Bharat Heavy Electricals Ltd. It is. then Hon'ble Union Minister of State (Commerce and Power) 32 NUCLEAR POWER CORPORATION OF INDIA LIMITED . THDC and ITER and the list is growing. for carrying out EPC activities for Nuclear Power Plants Conventional Island. Aiding NTPC's wish to diversify into the arena of nuclear power generation.
it must be powered by science and technology based in the country. ANNUAL REPORT 2008-09 33 . the joint venture between NPCIL and Tehri Hydro Electric Development Corporation (THDC) has been allotted detailed survey. FORGING BONDS NPCIL is also considering joint venture partnership with Indian Industries for the manufacture of Heavy Forging required for nuclear power plants. FUSION POWER Thinking beyond its business of nuclear fission.If Indian industry is to take off and be capable of independent flight. investigation and preparation of detailed project report of Malshej Ghat (600 MWe) and Humbarli (400 MWe) Pumped Storage Schemes by the Government of Maharashtra. – Homi Bhabha Malshej Ghat site showing Kalu river GOING BEYOND NUCLEAR For tapping opportunities in the development of hydropower inclusive of Pumped Storage Schemes. NPCIL has signed an MoU with International Thermonuclear Experimental Reactor (ITER) to co-operate and contribute in demonstrating the scientific and technical feasibility of fusion power.
Delivering a OPTIMISING PERFORMANCE On the Centre-Stage Catapulted to the centre-stage with the signing of international co-operation agreements in nuclear power. our units at Kakrapar are undergoing enmasse coolant channel replacement. No safety significant events occurred. At Narora Atomic Power Station. all nuclear power plants are braced up to have only planned shut downs without any major forced outages. REVVING UP Gearing up to play a long innings and demonstrate a frictionless performance. in terms of human productivity as well as operational efficiency. we are continuously evolving towards optimal performance. calandria vault leak identification and its rectification. In general. The high watermark of operations performance this year again is the long continuous performance of certain operating units. 34 NUCLEAR POWER CORPORATION OF INDIA LIMITED . jobs pertaining to the coolant channel were undertaken and finished.
by our people and by our machinery.Homi Bhabha OUR PEOPLE. Gujarat Kaiga.The lack of proper conditions and intelligent financial support hampers the development of science in India at the pace the talent in the country would warrant. Implementing the modern-day organisational practices. Maharashtra 1 2 3 4 1* 2 3 4 1 2 1 2 1 2 1 2 3 BWR BWR PHWR PHWR PHWR PHWR PHWR PHWR PHWR PHWR PHWR PHWR PHWR PHWR PHWR PHWR PHWR 160 160 540 540 100 200 220 220 220 220 220 220 220 220 220 220 220 1969 1969 2006 2005 1973 1981 2000 2000 1984 1986 1991 1992 1993 1995 2000 2000 2007 RAPS Rawatbhata. They are encouraged to share their work related experiences and voice their suggestions. is an incessant striving. Narora has been awarded “Sarvshreshtha Suraksha Puraskar” and units 3 & 4 at Kaiga have been conferred with Fire Safety Award. DEFINING NEW METRICS Our nuclear power plants at Narora and Kaiga-3 & 4. It helps the management to identify niche areas requiring improvement. we consider our people to be the critical contributors. Uttar Pradesh Kakrapar. Karnataka * Owned by DAE ANNUAL REPORT 2008-09 35 . OUR MACHINERY At NPCIL. Rajasthan MAPS NAPS KAPS KGS Kalpakkam. PLANTS IN OPERATION Nuclear Power Plant Location No. Tamil Nadu Narora. of Units Type Capacity (MWe) Year of Commercial Operation TAPS Tarapur. . we have launched programmes of monitoring performance at junior levels and providing performance based in-house training. Meeting a higher goal for performance. have set new metrics in safe performance.
scaling up and enabling movement into the 2nd Stage of the Indian Nuclear Power Programme.Delivering a ON THE PATH OF PROGRESS Concrete Goals As we march ahead on the time scale. Construction of RAPP-5 has been 36 NUCLEAR POWER CORPORATION OF INDIA LIMITED . the construction of the latest units of Rajasthan Atomic Power Project (RAPP-5&6) was initiated. we have arrived into the future of nuclear power in India. Transforming Bhabha's dream into concrete goals. our insatiable drive for capturing the power embedded in the atom has gained considerable momentum. RAMPING UP With the first pour of concrete on the raft of RAPP-5 in 2002.
music. stands as a testimony of the grit and determination of the Indian nuclear community. being implemented for the first time in India with the help of the Russian Federation. Construction activities of the 4th unit of Kaiga Atomic Power Plant (KGS-4)have been completed. has earned India a place of pride in the international nuclear community and represents a stepping up of the nuclear power development in India. sculpture and other activities. ANNUAL REPORT 2008-09 37 . I want to show that we are still capable of achieving perfection which our masters achieved in the past in dance. – Homi Bhabha accomplished and is ready to receive fuel. This advanced design and technology. It has successfully overcome many a technical hindrances associated with the phase of developing construction technologies for this large scale project by NPCIL along with Indian contractors and therefore. STEPPING UP While the PHWR unit size has been scaled up to 700 MWe. I know that I can progress faster and achieve more if I am prepared to make some compromises.Many people criticise me that I am looking for perfection in all things. RAPP-6 is also nearing completion and its Phase A commissioning is in progress. the construction of 2 X 1000 MWe Light Water Reactors (LWR/VVER) is on a steady path of progress.
are being channelised into the supervision of construction of new Pressurised Heavy Water Reactors (PHWRs) and Light Water Reactors (LWRs). Its aim is to provide a platform for voicing their concerns. NPCIL has launched programmes of in-house training for further building on the existing skills of employees. experienced employees of NPCIL. in the Finance Directorate. specialised training was imparted on IFRS. In one of these programmes. Performance monitoring and analysis at junior levels has also been initiated.Delivering a CHANNELISING MANPOWER Honing Human Assets In a bid to hone our human assets. holding Diploma in Engineering. such employees experiencing job saturation and burn-out have an excellent opportunity to grow within the organisation by taking up newer challenges. The finance officers also underwent a week long soft.skills training. PARTICIPATORY MANAGEMENT The management is encouraging informal discussions among employees. Contract Management to officers while an orientation programme was organised for the Accounts staff with the aim of enhancing efficiency levels. With many 38 NUCLEAR POWER CORPORATION OF INDIA LIMITED . introspection of their own performance against established benchmarks and giving suggestions for effective performance in a conducive work environment. For example. Taxation. AVENUES FOR GROWTH In the light of knowledge management. there is a major thrust on multi-faceted training of employees at various levels. Having reached a plateau in their careers.
design and international regulations. Overall. we believe that improving the quality of work-life makes productive employees. India will not have to look abroad for its experts but will find them ready at hand. satisfied human beings and a great organisation.When nuclear energy has been successfully applied for power production in say a couple of decades from now. Making serious efforts in this direction. safety requirements. knowledge management exercises are imperative for NPCIL.Homi Bhabha new sites coming up in future. KNOWLEDGE MANAGEMENT Considering the nature of our business and the wealth of precious nuclear related knowledge accumulated over decades. faculty members have been appointed to train personnel in implementing norms of construction.782 man-hours have been devoted to conducting 177 programmes for the dissemination of knowledge management practices across levels at a rapid pace from January 2006 till date. 97. ANNUAL REPORT 2008-09 39 . .
HEALTHCARE Caring for people by making provisions for the much needed medical facilities in and around the nuclear power plants. no less than 87. of Chittorgarh district. but fusion with humanity is our responsibility. we have woven a cocoon for the nurturance of our neighbours around the nuclear power plants. Abiding by this triple bottom line. and gained social acceptance. Hepatitis-B Vaccination camps for the first and subsequent followup dosages are organized at regular intervals for the prevention of the dreaded disease. NPCIL has dedicated a referral hospital to the public at the Rajasthan Atomic Power Station.for people. planet and profit. To perpetuate its contribution to healthcare of people around. Organising eye camps year after year for checkup and surgery free of cost for the villagers. 40 NUCLEAR POWER CORPORATION OF INDIA LIMITED . This move will motivate the villagers to send girls to school and reduce the overall dropout rate. UNIQUE IN ENDEAVOUR In a unique endeavour of dispensing its corporate social responsibility.Delivering a CORPORATE SOCIAL RESPONSIBILITY The Centripetal Force Fission of the atom is our business. Sustainability is our primary ethos. Rajasthan Atomic Power Station has contributed towards insurance coverage of all the school going children.000. And we are shouldering it with alacrity. NPCIL has illumined the life of many villagers. NPCIL has made inroads into the hearts of people. for itself as well as for nuclear power. We adhere to the triple bottomline .
Due to the collapse of the stairway leading to the temple. and getting school buildings constructed. "Kuchha" roads are converted into metalled roads interconnecting human agglomerations. Silhari and Maharajpur to serve the needs of the local population. Rajasthan Atomic Power Project. The coming up of the NPCIL site is synonymous with development and is a big leap into the 21st century for the denizens of the area. NPCIL is setting the base of literacy and school education by making provision for basic amenities in schools for children around nuclear power plants. Rawatbhata personnel accomplished a rescue mission successfully at the Shiva Temple located in a gorge Gapernath. recognising meritorious students by awarding scholarships. lines of telecommunication. such as school bags. Narora Atomic Power Station built 3 community halls in the neighbouring villages of Nandpur. ANNUAL REPORT 2008-09 41 . water supply and various other civic amenities are developed by NPCIL to make the place habitable not only for the scientific community but for the entire rural populace in vicinity. the NPCIL team rescued people and recovered 2 bodies. PROUD TO SERVE Proud to serve the nation and its people forever. stationary.EDUCATION Contributing to the growth of human resource in India. 150 people were trapped. INFRASTRUCTURE DEVELOPMENT The establishment of a nuclear power plant normally occurs in areas untouched by the nuances of modern living. in an overnight operation. books. Electricity. gifting personal computers to schools. 30 km away from RAPS. With the help of cranes.
Station/Project Narora Atomic Power Station (NAPS) Rajasthan Atomic Power Station/Project (RAPS/RAPP) Kakrapar Atomic Power Station (KAPS) Tarapur Atomic Power Station (TAPS) Kaiga Atomic Power Station (KGS) Kudankulam Nuclear Power Project (KKNPP) Madras Atomic Power Station (MAPS) Name of Nature Club Skimmer Nature Club Gyps Nature Club Ibis Nature Club Harrier Nature Club Frog Mouth Nature Club Pelican Nature Club Stork Nature Club 42 NUCLEAR POWER CORPORATION OF INDIA LIMITED . and it has also helped NPCIL to obtain social acceptance. 7. worldwide. The green halo that surrounds nuclear power.Delivering a THE GREEN SIGNAL Environment Stewardship Programme Wearing the green mantle of dense and diverse flora dotted by the colourful and majestic fauna. Sr. 6. Enveloping nuclear power in green power is a necessity in the 1. 5. has tilted the balance in favour of power generation through nuclear power. the nuclear power plants of NPCIL. 4. for carrying on their activities even in the remotest of the places in India. as benign power. 1. 2. along with the intrinsic property of nuclear power to preserve and promote a CO2 emission-free environment. No. unlike other sources of energy. 3. showcase the beauty of nature at its best.6 km radius around the nuclear power plant.
and Bombay Natural History Society (BNHS) and has an MoU with the latter to implement the Environment Stewardship Programme.Homi Bhabha. LESSONS IN CO-EXISTENCE Generally located near seaside. improving habitat. nature clubs exist at NPCIL sites. Carrying on with the tradition he set. The welfare activities of NPCIL act like the centripetal force on the communities they enter. with equal zest and fervour. The scientific institutions he built reside in the heart of nature. lakes and reservoirs for purposes of accessibility to water for cooling. some close to extinction. nurtured nuclear power and nature side by side. migratory as well as resident. The programme includes training of local volunteers. NPCIL is an institutional member of Indian Bird Conservation Network (IBCN) ANNUAL REPORT 2008-09 43 . public awareness campaigns to sensitise members of public on environment. rivers. Father of Nuclear Power in India. To execute the plans. the nuclear power plants and their lush surroundings are the abode of many rare species of animals. NPCIL is avidly fostering nuclear power amidst the green cover. Everybody is drawn within and held close to the heart of NPCIL. amidst pristine natural surroundings. fish and birds. particularly of avi-fauna. be it human or animal kingdom.
The revised pay and allowances payment for 40% of pay arrears 44 NUCLEAR POWER CORPORATION OF INDIA LIMITED . The sale of power during the year 2008-09 was Rs.2006 were implemented in NPCIL from 1.1.1000/. as per the billing cycle. The orders of Government of India on pay revision effective 1. Electricity generation.6.50 2007-08 3434 832 4266 1874 455 734 3063 1203 2 1205 127 1078 1094 2172 300 51 23 4 1000 794 106. KAPS-1 and NAPS-2 were shutdown for Enmasse Coolant Channel Replacement (EMCCR) activities.2008. During the year. Your Directors have immense pleasure in presenting the twenty-second Annual Report of the Company.3011 crore as compared to Rs. (Equity share having face value of Rs.each) The mismatch between supply and requirement of fuel continued during the year 2008-09. in crore) 2008-09 3011 791 3802 2210 489 706 3405 397 83 480 39 441 794 1235 100 17 32 5 100 981 43. Wind power generators at Kudankulam had started producing wind power in January 2007.56 crore. together with the Audited Accounts for the year ended 31st March 2009. resulting in average capacity factor of about 50%. (Rs.Delivering a DIRECTORS' REPORT Dear Stakeholders.9. which is about 12% less thereby NPCIL follows the pay structure and allowances as applicable to the Central Government employees. in 2008-09 has been 14921 MUs as against 16964 MUs in 2007-08.30 Financial Results Sales of Electrical Energy Other Income Total Income Operating & Maintenance Expenditure Interest Depreciation Total Expenditure Profit for the year Prior period adjustments Profit Before Tax Provision for Taxation Profit After Tax Add: Balance brought forward from previous year Balance available for Appropriations a) Interim Dividend b) Tax on Interim Dividend c) Proposed Dividend d) Tax on proposed Dividend e) Transfer to General Reserve f) Balance carried to Balance Sheet Earning per Share in Rs. PERFORMANCE HIGHLIGHTS A summary of the Company's Financial Results is given below: resulting in reduced revenue of Rs.3434 crore for the previous year.
2008.22 “Taxes on Income” issued by the Institute of Chartered Accountants of India (ICAI) with effect from 2007-08. During the financial year. Mumbai.01.39 crore. The Company has adopted Accounting Standard . KGS-1 reactor completed 487 days of operation without scram from 30. the Company has appropriated Rs. The Company has been able to optimise its operational efficiency and has been able to achieve a net profit of Rs. The Company has successfully implemented cost control measures.17. Therefore.441 crore after tax.for the period 1. RESOURCE MOBILISATION There was no fresh market borrowing during the year. The provision for taxation during the year is Rs.33 crore from these funds towards the income tax payable on these levies. 2009 was Rs. The funds are held by NPCIL on behalf of the Department of Atomic Energy (DAE) and the Decommissioning levy is recovered based on a statutory notification issued by the DAE. During the year. MAPS-1&2 celebrated completion of 25 years of successful operation.100 crore.1. as per the terms of their issue.8. The overall Capacity Factor (i. RAPS-4 reactor completed 308 days of operation without scram up to 31st March-2009.2006 to 31. Since Income tax payable on income from generation of power is recoverable from the beneficiaries.1786.39.80 crore) have contributed to increased operating and maintenance expenditure of Rs.1874 crore for 2007-08. However. the Company has not drawn any budgetary support from the Government of India.15000 crore. The Company has redeemed bonds of Rs.132. provision for balance 60% arrears to be paid in 2009-10 (Rs.e.66 crore on account of timing differences between book and tax profits.49 crore. The amount received towards interest on Research & Development (R&D) and Renovation & Modernisation (R&M) Funds and Decommissioning levy with interest accrued thereon has not been considered as income of the Company.09. is recoverable on becoming a part of the current tax. KGS-1 & KGS-2. In addition. more than 90% availability factor recorded by TAPS-2. the amount of deferred tax. RAPS-4. Plant Load Factor) was 50% and the weighted average Availability Factor was 82%. Kudankulam Wind Farm generation during the year was 22. En-masse replacement of condenser tubes was carried out at TAPS-1 for the first time since its commercial operation. The total paid up capital continued to be Rs. and the additional expenses on Leave Travel Concession (LTC) to North East Region (Rs. the Income Tax Tribunal has decided that the levies and interest earned on these funds treated as income of the Company. an appeal has been filed in the Honorable High Court of Maharashtra. ANNUAL REPORT 2008-09 45 . so recognised.9 MUs. DIVIDEND The Board has recommended a final dividend @30% of Profit After Tax (PAT) of the Company.33 crore as on 31st March 2009. As the decision is against the Company.07 to 29. which resulted in notable saving in administration and related expenses. OPERATING PERFORMANCE OF THE STATIONS The performance of all operating stations was satisfactory during the year 2008-09 and these generated 14927 MUs of electricity. The accumulated net deferred tax liability as on March 31.220 crore).10145. against the Authorised Capital of Rs. such deferred tax is considered as recoverable and netted from such deferred tax liability/expense. This amounts to Rs.124 crore during the year. MAJOR HIGHLIGHTS TAPS-1&2 celebrated completion of 40 years of nuclear power generation in India. CAPITAL During the year.09.2210 crore for 2008-09 as against Rs. including the interim dividend of Rs.
As per the separation plan. (%) 77 97 84 89 86 88 98 93 68 75 71 74 74 100 85 88 92 92 32 72 82 Station Total RAPS Station Total MAPS Station Total NAPS Station Total KAPS Station Total KGS Station Total NPCIL TOTAL Note: RAPS-2 and NAPS-2 not available during the year for capital maintenance. World Association of Nuclear Operators (WANO) Peer Review was carried out at NAPS and TAPS-3&4.F. FUEL SUPPLY The fuel supply for the Pressurised Heavy Water Reactors (PHWR) remained restricted during the year. has also been taken up. will also have the benefit of using imported fuel. The imported fuel will be used in RAPS-2 where enmasse feeder replacement work has been completed. once the reactors are placed under IAEA safeguards. As a result of these interventions. the conclusion of agreements with France and Russia has already led to delivery of fuel.2008 for capital maintenance. Station TAPS Unit No. In addition to the positive development at the indigenous level. All PHWRs were operated at lower than 70% full power and the shutdowns of some of the reactors had to be extended. KAPS-1 not available from 1. the yearly Capacity Factor (CF) and the annual Availability Factors (AF) are summarised in the Table. Hyderabad.7. positive developments have been seen in respect of opening up of new mines. from the year 2010.DIRECTORS' REPORT Completion of major activities of Primary Heat Transport system feeders replacement at RAPS-2. HIGHLIGHTS OF THE OPERATING PERFORMANCE OF THE STATIONS The generation. 1 2 3 4 2 3 4 1 2 1 2 1 2 1 2 3 Capacity (MWe) 160 160 540 540 1400 200 220 220 640 220 220 440 220 220 440 220 220 440 220 220 220 660 4020 Generation (MUs) 1007 1349 1923 2030 6309 1156 1303 2459 733 785 1518 740 740 259 954 1213 1157 1079 452 2688 14927 CF (%) 72 96 41 43 51 60 68 64 38 41 39 38 38 54 49 50 60 56 23 46 50 A. like at Gogi. Completion of major commissioning activities at RAPP-5. The supply of Uranium has received consideration of the Government of India at the highest level. Work at other mines. “Candu Owner's Group (COG) Fuel Handling Functions Benchmarking Project” was carried out at RAPS-3&4. commissioning of Turamdih mill and expansion of Jaduguda and Turamdih mines. 46 NUCLEAR POWER CORPORATION OF INDIA LIMITED . in accordance with the separation plan. The first lot is being converted to fuel bundles at Nuclear Fuel Complex. Imported fuel will also be used soon in RAPP-5&6. The project work at Tumallapalle mine is also progressing as scheduled. RAPS3&4.
erection of turbine and generator set. Detailed Project Report for both the projects have been submitted to Government for obtaining approval. commissioning of Computerbased systems as well as Electrical Systems. Pre-qualification of construction agencies for civil construction of the main plant has been carried out. The Project construction achieved significant milestones during the year – with respect to Unit-1. Construction works for RAPP-6 are in advanced stage of completion.As a result of these positive developments. All the equipment and the construction drawings are being supplied by the Russian Federation while civil construction. Service system has been commissioned. conveyed its approval in principle for the setting up of additional units at the existing sites at Kakrapar (KAPP-3&4 . outer containment dome & tertiary dome. Nuclear fuel for the Unit-1 has been received at the site. Kakrapar Atomic Power Project-3&4 & Rajasthan Atomic Power Project-7&8 It is planned to start construction of these projects with NPCIL designed 700 MWe units. In order to match the commissioning of main plant systems. is being implemented with Technical Co-operation from Russian Federation within the framework of the Inter-Governmental Agreement between India and the Russian Federation. ONGOING PROJECTS Kaiga Atomic Power Project-4 (220 MWe PHWR) The year marked Light Water commissioning of Primary Heat Transport (PHT) system. Initiatives under Civil Nuclear Co-operation NPCIL is working towards collaboration with interested vendors of nuclear plants and equipment.2x700 MWe PHWRs). Commissioning of Nuclear Systems is completed and Unit is ready for fuel loading. erection of refueling machine main coolant piping welding were completed. Hydro Test of PHT and Secondary Cycle. Rajasthan Atomic Power Project-5&6 (2x220 MWe PHWR). The reactor awaits fuel loading. These are under consideration of the Government of India. This unit is expected to be ready for fuel loading by end of July. Reactor Building Containment Proof Test and Integrated Leak Rate Test have been completed. in October 2005. 2009. located in Tirunelveli district of Tamilnadu. The construction of the project commenced on 18th September 2002 with the first pour of concrete for unit-5. box-up of turbine generator set.13171 crore. This is according to the plans of the Department of Atomic ANNUAL REPORT 2008-09 47 . with a view to accelerate the growth of nuclear power in India. As part of Atomic Energy Regulatory Board (AERB) review. Site clearance from Ministry of Environment and Forests (MoEF) has been obtained. Fuel Handling System was commissioned early to compress the overall commissioning period. Maharashtra. Procurement & Supplies-91% and Construction & Erection activities-86%. Kudankulam (KKNPP-3&4 2x1000 MWe LWRs) and a new site at Jaitapur. The progressive improvement in fuel supply expected thereafter would result in operation of PHWRs at higher capacity factors. NEW PROJECTS The Government of India. Ground breaking activities are expected to start for KAPP-3&4 in December 2009 and six months later for RAPP-7&8.2x700 MWe PHWRs) and Rawatbhata (RAPP-7&8 . Desalination and DM Water Plant have been commissioned. The breakup of progress achieved is: Design & Engineering-96%. Construction activities for Unit-2 are closely following those for Unit-1. The proposals for administrative and financial sanction of KAPP-3&4 and RAPP-7&8 were finalized during the year. erection of equipments and commissioning of the systems are being executed by NPCIL.11894 crore against total sanctioned sum of Rs. Pre-project activities have been initiated at these sites. The 1000 MWe units deployed are the largest unit being installed in India. Kudankulam Nuclear Power Project (KKNPP)-1&2 (2x1000 MWe VVER) The 2x1000 MWe Kudankulam project. Construction of inner containment and outer containment dome. The Common Services Systems viz. The fuel loading in Unit-1 is expected to be carried out by December 2009. main coolant piping welding have been completed. The project has recorded a cumulative overall physical progress of 87% as of March 2009 (Unit-1: 91% and Unit-2: 80%) and cumulative expenditures of Rs. 220 kV Gas Insulated Switchgear. site consent for KAPP-3&4 has been obtained and application for the same for RAPP-7&8 is under consideration of the regulatory agency. The water passage caisson units for the KKNPP breakwater dyke were installed at the mouth of the breakwater dyke. operation of PHWRs under safeguards at full power and other PHWRs at 70% of full power will be possible in the year 2009-10.
Plant layout for these units is finalized and Project Safety Analysis Report (PSAR) is under finalisation. Further discussions are underway regarding techno-commercial details and project initiation between Indian and Russian sides. Government of India. etc. Reactor core design has been completed. However. Requirement of forgings for large size is one such area where very few manufacturers are globally available. etc. 48 NUCLEAR POWER CORPORATION OF INDIA LIMITED . Consequent to allotment of potential sites at Malshej Ghat and Humbarli in Maharashtra State for Pumped Storage Scheme (PSS) by the Government of Maharashtra for taking up the pre-project activities and investigations for the techno-economic studies in respect of the PSS jointly to NPCIL and Tehri Hydro Development Corporation (THDC).DIRECTORS' REPORT Energy. An MOU was signed between NPCIL and NTPC Limited to form a Joint Venture company to work together for setting up Nuclear Power Plants. NEW INITIATIVES AND BUSINESS DEVELOPMENT For 700 MWe Units. An MOU has been signed between NPCIL and AREVA. Endshield. purchase recommendation. Fueling Machine. an agreement was signed between NPCIL and THDC for the PSS project at Malshej Ghat. International Thermonuclear Experimental Reactor (ITER) is a joint international research and development project that aims to demonstrate the scientific and technical feasibility of fusion power. tender. 2. Government of India. Design of various long delivery critical equipment such as Steam Generators. is finalised. Calandria. NPCIL has carried out the design of nuclear reactors. NPCIL has taken pro-active action of discussing the subject with prospective industries for developing indigenous facilities. Plant layout and Process & Instrumentation Schematics have been finalised and detailed drawings are being issued. ENGINEERING & PROCUREMENT The 700 MWe PHWR design has been finalised. Procurement action for these is initiated. Design of a PWR based on plant layout as in 700 MWe PHWR has been taken up. Main Plant Civil tender is prepared and all drawings needed for construction upto ground level have been finalised for 2x700 MWe units at Kakrapar (KAPP-3&4). execution of contracts. to meet the growing demand of electricity. Procurement activities for long delivery equipment have been initiated. NPCIL and ITER-India signed an MoU to complement and synergise their respective expertise by cooperating to implement the 'in-kind' contributions of India to the ITERProject. the PSS project is proposed to be taken up through a Joint Venture company. NPCIL has also signed MOUs with General Electric Hitachi (GEH). USA and with Westinghouse Electric Company (WEC). accorded environmental clearance for KKNPP-3&4. (BHAVINI) and International Thermo Nuclear Experimental Reactor (ITER) by way of providing Technical and Project Management support during finalisation of packages. Further negotiations are being held for finalising the joint venture agreement. Inter-Governmental Agreement (IGA) signed between the Government of India and the Russian Federation provides for setting up of 4 additional units in Kudankulam site. Following is the status of progress in this regard: 1. France on 4th February 2009 to enable both the sides for technical co-operation and development of the initial contract for setting up of two units of 1650 MWe EPRs with provision for setting up total 6x1650 MWe NPP Units at Jaitapur site in twin-unit construction mode in a phased manner. MoEF. Purchase orders for Steam Generators are placed. NPCIL and BHEL have signed a Memorandum of Understanding (MOU) for forming a joint venture for acquiring appropriate technology for 700 MWe turbo generator sets. 3. USA and is engaged in discussions on obtaining ABWR and AP 1000 units. NPCIL has also been offering services to Bharatiya Nabhikiya Vidyut Nigam Ltd. Site grading and leveling works have been completed. Following this. As a consequence. The activities related to acquiring land at Jaitapur are being pursued. supply chain of critical equipment will be a major area of concern. Primary Coolant Pumps & Motors. With the growth of nuclear power programme. Identical engineering activities for two more 700 MWe PHWR Units (RAPP-7&8) to come up at Rawatbhata have also been initiated. Civil Nuclear Co-operation agreement between the Government of India and the Government of United States of America was signed in October 2008. NPCIL and BHEL have jointly floated a tender for expression of interest by prospective providers of technology for TG sets. Package details for Turbine Island package are also finalised. On completion of technoeconomic studies and approval from statutory authorities. the design for appropriate Turbo Generators for this size is not available indigenously. Package formulations based on mega package concept are in the final stage.
For achieving excellence in safety. Design basis report and periodic safety assessment report of KAPP-3&4 (700 MWe) were reviewed and emergency preparedness programme was developed. safety training. NPCIL now has developed the capability to analyse all the plant states from normal power operation to the postulated severe accidents. Further improvements were achieved by strengthening the reporting of Near-Miss accidents. SAFETY & ANALYSIS During the year. impact of explosion in the commercial vehicle carrying inflammable material on the nuclear power plant structures was evaluated and structural safety of plant structures was demonstrated. World Association of Nuclear Operators (WANO). TAPS-3&4 and NAPS. The first version of the indigenously developed general purpose CFD Code 'Anupravaha-kit'. Continuing with the emphasis on the principle of 'As Low As Reasonably Achievable' (ALARA). Environmental and safety performance indicators were developed. the environment dose due to the releases of radioactive effluents from NPPs was maintained significantly low (average less than 1% of the limits specified by AERB). As a special analysis. the occupational exposures of the Company's employees working at different NPPs were maintained well below the values specified by the regulator.4 and RAPP-5.6 Reactor Building. The Report demonstrated that the safety standards of Indian nuclear power stations and safety analysis capabilities are equivalent to international levels. QA Directorate has ensured timely and effective QS coverage to meet the project schedule. For effective safety and quality assurance audits in NPCIL. With its policy of maintaining the highest standards of safety within the Nuclear Power Plants (NPPs). peer review of NAPS as well as KAPS was carried out by the international agency. an online Computerised Event Reporting System (CERS) is installed at all NPPs and being used satisfactorily. Atomic Energy Regulatory Board (AERB). The extensive reactor physics evaluations established feasibility of utilisation of slightly enriched Uranium in the current generation reactors. During the year. Assessments of safety significant events are carried out to reduce the number of events at operating stations. Computational Fluid Dynamics (CFD) techniques are increasingly being employed for safety studies. An innovative audio visual film was developed for enhancing construction safety. Safety Analysis of the old stations was revised to comply with the present regulatory requirements. behavior based safety programs are being given additional impetus. NPCIL participated in the international exercises in the area of safety analysis organised by IAEA. were implanted and maintained at all operating stations. safety promotional activities and by conducting emergency fire drills. QUALITY ASSURANCE The Quality Assurance (QA) Directorate has played a lead role in the continuous upgradation of Quality Management. Self assessment / peer review of MAPS1&2 and KGS-1&2 were carried out during the year. To enhance the utilisation of operating experience and event analysis in the NPPs. is ready for use. The Company is committed to its motto of “Safety First”. Continual strengthening on Industrial & Fire Safety activities of NPCIL plants and HQ remained the main focus during 2008-09 as well. Regular activities of all plants were maintained and safety measures were strengthened with safety surveillance. The Environmental Management System (EMS) and Occupational Health and Safety Management System (OHSMS) as per ISO-14001:2004 and IS-18001:2000 respectively. The requisite regulatory clearances were obtained. These techniques have been employed for the first time in the domain of fire analysis work needed for important areas of Kaiga-3. ANNUAL REPORT 2008-09 49 . India had presented the first National Report in the International Convention on Nuclear Safety at International Atomic Energy Agency (IAEA). Corporate Review was carried out for RAPS-1&2. Quality Assurance / Surveillance activities have been carried out expeditiously for projects and stations. On the deterministic analysis front. etc. HEALTH & SAFETY AND ENVIRONMENT MANAGEMENT Nuclear Power Plants (NPPs) of the Company have registered 295 reactor years of safe operation with excellent safety track record and the reportable industrial injuries and safety incidents in NPCIL continue to be low. an in-depth and comprehensive review in the form of Corporate Review is in place. This could be accomplished by safety assessment through in-house development of algorithms to perform stability analyses for higher in-core burn up for new core configurations. which was peer-reviewed by many countries. Pre-Service Inspection (PSI) / In-Service Inspection (ISI) and interaction with the regulatory body. Higher in-core burn up is the essential element of fuel optimisation strategy in current situation.REACTOR PHYSICS. monitored and reviewed at all these stations for benchmarking and continual improvement in system performance. development of additional safety documents and conducting Fire Analysis Workshop at NPCIL Plants. Quality Assurance/ Surveillance.
Safety. 105 posts in Scientific and Technical category and 37 posts in non-technical category were filled. which constitutes about 15%. Similar work for TAPS-1&2 and developmental activities related to NDE tooling required for performing ISI have commenced during the year. Training and development initiatives covered competency development for fresh as well as experienced manpower across hierarchy.e. 50 NUCLEAR POWER CORPORATION OF INDIA LIMITED . Not a single man-day was lost due to industrial unrest of any kind. Review of technical specification for KKNPP and 540 MWe manipulator based Eddy Current Testing System of SG tube examination has been completed. Awards and Recognitions for the implementation of official language: NPCIL bagged DAE 'All Over India Official Language Shield' for excellent performance in the field of official language implementation for the year 2007-08. The employees were also sponsored for acquiring higher education in Technology. Management.792 employees on its rolls consisting of 3. Implementation of Reservation policies SC/ST/OBC reservation policies are being fully complied with and development of SC/ST personnel is being given paramount importance. well developed internal training programmes. IMPLEMENTATION OF OFFICIAL LANGUAGE NPCIL fully complies with the Government of India directives on the implementation of the official language i.DIRECTORS' REPORT Review and revision work of ISI programme of RAPS-2 and MAPS have been completed. as a part of annual induction programme of young blood to the organisation. Mumbai for the year 2007-08. productivity and safety. projects and headquarters. HUMAN RESOURCE MANAGEMENT NPCIL values its human resource as its most valuable asset. Hindi. BHAVINI. NDE training has also been imparted to QA Engineers and Scientific Assistants. 1. DRDO. 5% and 16% of the total strength of the Company. 5681 man-days of training was imparted during the year. ITER-India and State Electricity Boards (SEBs). A structured mechanism for redressal of grievances of employees has been instituted in the Company. customised management development programmes with the involvement of professional training institutes and experts were organised for higher levels.758. conflict resolution based on a mutual understanding and emphasis on increased production. NPCIL had a total 11.271 Engineers and Scientists. Staffing is being done strictly in accordance with the optimised manpower models for Projects. Regular meetings were held with the recognised Unions at Station/Project levels and with the Joint Consultative Council at the apex level to discuss and resolve the various employees' related issues. Special emphasis has been given for training and certification of QA manpower in-house.927 respectively. The efforts made by NPCIL in implementation of Rajbhasha have been applauded in many forums and the Company received many accolades. 5. The relationship building rested on constructive participation of workers' representatives in decision making in matters affecting the general welfare and service conditions. These documents outline optimised ISI requirements without jeopardising safety.710 non-technical executives and staff and 1. Scheduled Tribes and Other Backward Communities was 1. House Magazine of NPCIL Mumbai HQ "Urjaswi" was rewarded best Magazine Award by the Town Office Language Implementation Committee. Besides. Fire Services. Well documented standardised Welding Procedure Specifications and Non-Destructive Examination. The Company has also undertaken many initiatives towards encouraging employees to increase the use of official language in day-to-day functioning. As on March 31. The overall representation of Scheduled Castes. 630 and 1. etc. Stations and Headquarters including multi-units sites. 2009. The Central Government's decision to implement the Sixth Pay Commission's recommendations has paved the way to initiate improvement of the existing working conditions.148 Auxiliary support staff.663 technical employees. Employee Relations Harmonious employee relations prevailed in all the stations. House Magazine of Kaiga Atomic Power Station "Anusanket" was rewarded best House Magazine Award of DAE for the year 2007-08. NPCIL received first prize in the field of Official Language Implementation by Ashirwad Institute for the year 2007-08 in the category of large Public Sector Undertakings (PSUs). NPCIL continued to provide QA consultancy services to BARC. Documents on In-Service Inspection history of the Heavy Water Heat Exchangers and Primary Heat Transport system feeder Ultrasonic thickness measurement in PHWR type reactors were issued during the year. facilities and benefits. During the year.
organising international conferences and sponsorship of various sports and cultural events. Online dictionary containing 16500 words was launched. During the year. participation in exhibitions. expansion plans. one at each site. A total of 32 workshops were organised to enhance knowledge of Hindi in which 793 employees participated. The assistance on account of welfare activities taken up by the stations and projects of NPCIL during the year has been Rs. A magasine containing Scientific and Technical articles "Pragati Ke Pathik" was also published. construction of roads and supplementing education facilities. The Company organised International Conference of Indian Nuclear Society on Role of Industry in development of Nuclear Technology during this year. Delhi during 14-17 December. Best In-house Magazine Award for the year 2008-09 was conferred on Narora Atomic Power Station for its Magasine "Anuvihar". extension of drinking water facilities. 2008. Vigilance Awareness Week 2008 was observed with various programmes. NPCIL pavilion was adjudged best in International Exhibition. Energy-Tech and Enviro-Tech-2008 organized by ITPO.2. The Company is continually integrating the system of vigilance with business.Kaiga Atomic Power Station received two shields from Town Official Language Implementation Committee.npcil. CPIO's office has been established at NPCIL headquarters with adequate manpower to carry out its functions. probity. 15 training programmes for creating and enhancing vigilance awareness among the employees were conducted at Headquarters and Units. NPCIL also organised another international conference of IAEA and AERB. NPCIL participated in six exhibitions at local. extending medical assistance to nearby villages. publication of variety of literature on nuclear power. The mandatory information required under section 4(1) (b) of the Act has been posted on NPCIL website and the information was updated as required. Karwar for excellent performance in the field of official language. blood donation camps. In addition to this. All leading national and foreign industries. safety. VIGILANCE The year 2008-09 witnessed numerous activities on 'Vigilance' at NPCIL with a clear mission of relentless endeavor to evolve a culture of honesty.in) is helping in instantaneous dissemination of information worldwide. CORPORATE COMMUNICATION NPCIL continued its efforts to project the image of the Company by undertaking brand building measures that included interaction with media. vigilance activities and growth plan through its booklets. The Company's website (www. house magazines and other channels. One day workshop was also conducted for senor executives of the Company. Surprise regular inspections were carried out by Vigilance Officers. which is nothing but inculcating high degree of morals and values amongst officers and staff. These welfare measures included organising medical camps. ANNUAL REPORT 2008-09 51 . Academic Institutions participated in the conference. one Central Public Information Officer and an Appellate Authority have been appointed towards implementation of Right To Information (RTI) Act. Presentations/lectures were organised in NPCIL for creating awareness about the importance and ways to implement the Act. Mumbai to set up a permanent exhibition on “Hall of Nuclear Power”. etc. An MoU has been signed between NPCIL and Nehru Science Centre. CORPORATE SOCIAL RESPONSIBILITY NPCIL is well recognised as a socially conscious organisation and continues to play an active role through a host of community development and other measures in and around its Nuclear Power Plants and surrounding areas.76 crore. THE RIGHT TO INFORMATION ACT. etc. Experts from Central Vigilance Commission were invited to deliver lecture in Vigilance Seminars. 2005 in NPCIL. regional and national level showcasing the Company's achievements and the benefits of nuclear power. integrity and transparency in the organisation. The Company continued to disseminate vital information related to performance. R&D organisations. Hindi week was observed in September 2009 and "Vishwa Hindi Divas" was celebrated on 10th January 2009. 2005 Seven Assistant Public Information Officers. communication with schools and colleges including development of Nuclear Power awareness module for college students.nic.
NPCIL is on the Board of ITERIndia. the Company actively participates in various WANO programs by hosting workshops. CORPORATE GOVERNANCE The Department of Public Enterprises (DPE) has laid down guidelines on Corporate Governance for CPSEs. NPCIL is a member of International Thermonuclear Experimental Reactor (ITER) and participates in its activities. MANAGEMENT DISCUSSION AND ANALYSIS Annexed as Annexure B to this report. 1956 read with the Companies (Particulars of Employees) Rules. the Directors confirm: 1. A compliance report on Corporate Governance is given as Annexure-C. documents and guidelines. Jain. in accordance with the provisions of the Companies Act.K. NPCIL is a member of CANDU Owners Group (COG) along with other world companies who operate Pressurised Heavy Water Reactors (PHWRs). along with proper explanation relating to material departures. 1975 as amended. DIRECTORS' RESPONSIBILITY STATEMENT As required under Section 217(2AA) of the Companies Act. Parikh & Associates. Tokyo and Moscow centers of WANO. 3. which have been replied. PARTICIPATION IN INTERNATIONAL ACTIVITIES NPCIL is a founder member of World Association of Nuclear Operators (WANO). The board members and senior management have reaffirmed the compliance with the code of conduct. The Department of Atomic Energy (DAE). 52 NUCLEAR POWER CORPORATION OF INDIA LIMITED . MOUs were signed with reactor vendors with a view to take the process of setting up Light Water Reactors further. has requested NPCIL to comply with the instructions. technical support missions and peer reviews to achieve next higher level of safety and reliability of its plants. S. The year had visits of several delegations to NPCIL from the USA. Jain. that they have taken proper and sufficient care for the maintenance of adequate accounting records. none of the employees of the Company was in receipt of remuneration in excess of limits prescribed under the said rules. Twenty five numbers of first appeals were disposed off and five second appeals at Central Information Commission / State Information Commission level were handled during the year. Russia and many other countries. Dr. PARTICULARS OF EMPLOYEES Pursuant to Section 217(2A) of the Companies Act. France. NPCIL is currently president of WANO. a firm of Practicing Company Secretaries regarding compliance of conditions of corporate governance as indicated in the DPE Guidelines and the 2. 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. that they had prepared the annual accounts on a going concern basis.18 of the Listing Agreement with the National Stock Exchange (NSE) has been ensured. CMD. 4. NPCIL representatives are on regional governing boards of Atlanta. where NPCIL participated actively. Resulting out of these interactions. Dr. are given in Annexure A to this report. the administrative ministry of NPCIL. comes under regional centre located in Tokyo and has been very active member since its inception. CO N S E R VAT I O N O F E N E R G Y / T E C H N O LO G Y ABSORPTION / FOREIGN EXCHANGE EARNINGS AND OUTGO Particulars as required under Section 217(1) (e) of the Companies Act. S. Chairman and Managing Director. In addition to corporate governance requirements stipulated in the guidelines issued by the DPE. COG is a representative body of all utilities operating Canadian PHWRs. the applicable accounting standards have been followed. that in the preparation of the annual accounts. NPCIL and WANO Tokyo Centre will be hosting next Biennial General Meeting (BGM) during 31st Jan to 2nd Feb 2010 in New Delhi. NPCIL participates in various programmes of International Atomic Energy Agency and provides experts to develop various programs. The guidelines are similar to the Corporate Governance Clause in the Standard Listing Agreement of Stock Exchanges.DIRECTORS' REPORT One Hundred and Seventy Seven (177) requests were received during the year 2008-09. Canada. compliance with the code on Corporate Governance stipulated in clause 2. 1956. 1956 read with the Companies (Disclosure of Particulars in the Report of the Board of Directors) Rules. The Company has obtained a certificate from M/s. NPCIL is also a joint member of World Nuclear Association (WNA). 1988. A fuel handling bench marking visit was organised. that they have 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 or loss of the Company for that period.K.
Bajaj and wishes to place on record its sincere appreciation of the valuable services rendered by S/Shri V. The Board would also like to place on record its appreciation of the services rendered by the auditors for their service and valuable advice. Departments of the Government of India.P. Central Electricity Authority. 2008 consequent to his superannuation. Ministry of Power. October 1.f.. who had been appointed as part-time Director on the Board w. For and on behalf of the Board of Directors (S. 2002. Principal Adviser. July 1. Chartered Accountants.P. APPRECIATION The Board would like to express its gratitude to the Department of Atomic Energy. OBSERVATIONS OF THE STATUTORY AUDITORS Comments of the management on the observations of the Statutory Auditors are given in Annexure-E to the report.P. 2007 ceased to be Director w.K. who ceased to be Director w. Raja and Anand Mohan during their association with the Company. Comments of the C&AG on annual accounts have been given as Annexure to the report. STATUTORY AUDITORS The Statutory Auditors of your Company are appointed by the Comptroller & Auditor General of India. Supervisors' and Officers' Associations.f. 2009 ANNUAL REPORT 2008-09 53 . DAE.f. JAIN) Chairman & Managing Director Place: Mumbai Date : July 17. banks. financial institutions and other investors who have continued to repose their confidence in the Company. The Board welcomes the appointment of S/Shri A. CHANGES IN THE BOARD OF DIRECTORS Shri V. 2009 were reviewed by the Comptroller and Auditor General (C&AG) of India. 2008.e. Shri H. COMMENTS OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA The accounts for the year ended March 31. Ministry of Programme Implementation & Statistics. has been appointed as part-time Director again on December 16.L. DAE has been appointed as a part-time Director on the Board from December 11. 2008. ceased to be Director w.e. State Governments for their co-operation.listing agreement. 2008. Raja. Shri Anand Mohan who had been appointed as a parttime Director on the Board w. M/s Kalani & Co. 2009 consequent to his superannuation.L. Shri A.e. May 12.e. The Compliance Certificate is annexed to this report as Annexure-D.P. Bajaj. Joshi. January 3.f.f. Ministry of Environment & Forests.e. June 8. Jaipur were appointed as Statutory Auditors for the financial year 2008-09. other Ministries. The Board wishes to express its special appreciation of the hard work put in by each and every employee of the Company and the co-operation extended by the Employees' Union. Joshi and H. Additional Secretary. Planning Commission.
1988 and forming part of the Directors' Report for the year ended 31st March 2009.39 (Rupees in crore) 2007-08 Foreign Exchange Earned 54 NUCLEAR POWER CORPORATION OF INDIA LIMITED . During plant shutdown. Thermal imaging is carried out on hot piping and equipment and remedial measures like repair/replacement of insulation to reduce the heat losses is done at all the stations.g. etc. CONSERVATION OF ENERGY A. The following Energy Saving measures were undertaken by the Company: Energy Conservation Committees. carbon dioxide.08 893. Higher energy conservation awareness among employees. light water and compressed air leaks. A Head Quarter Instruction to guide all the stations to take necessary measures for the conservation of energy has been put in place. etc. Additional investment and proposals for reduction of consumption of energy: Old Freon based Water chiller unit in RAPS-1&2 was replaced with efficient Vapor Absorption machine and commissioned. Solar heater in plant canteen and solar lights at appropriate plant areas have been installed.82 1942.ANNEXURE 'A' TO THE DIRECTORS' REPORT Information under section 217(1)(e) of the Companies Act.93 0.55 – 5. on a trial basis is proposed. B. nitrogen. Foreign Exchange Outgo a) b) – – – 2. gas. Reduction in auxiliary power consumption. During station operation. helium. Installation of Variable Frequency Drive (VFD) system on selected equipments. Energy Audit by an external agency is carried out at one of the stations and based on its results an action plan has been prepared for implementation. Continuous efforts are put in to reduce steam. Energy Conservation Measures Undertaken: Energy conservation is a continuous and ongoing activity and conservation of energy has been given high priority in all the operating Nuclear Power Stations (NPPs) of NPCIL. has substantially reduced. Domestic LP gas is being used in plant canteens and conventional electric heaters have been phased out.). Maximising use of daylight and modification of lighting system using energy efficient lamps. and the same is closely monitored. 1956 read with Companies (Disclosure of Particulars in the Report of the Board of Directors) Rules. met periodically to review and suggest measures for energy conservation. number of operating equipment have been optimised. which were formed at all the operating NPPs and Headquarters. IDCT/CCW etc. consumption of various gases viz. The consumption of oil. minimum number of equipment are kept operating for energy conservation. C. Value of Import based on CIF basis Expenditure Project related Interest and Agency fees Others 171. Equipment modification and process modification in the operating station were done which resulted in a substantial reduction in energy consumption.24 – 21.09 79. There was reduction in demineralised water consumption. Impact of measures at A and B above for reduction of energy consumption. 14th December 2008 was celebrated as Energy Conservation Day at all stations to create awareness towards energy conservation among employees and their families. An extensive in-house study has been completed for the reduction of consumption of energy by major loads which vary seasonally (e. hydrogen. FOREIGN EXCHANGE USED/EARNED 2008-09 1.17 0. The use of solar energy has been initiated at some of the stations.
1989. Test facilities for nuclear safety studies are established/ being established. reduction in operational costs. Innovative techniques are being introduced in reactor design to upgrade 540 MWe PHWR to 700 MWe by permitting limited boiling in reactor coolant channels with minimum changes in nuclear components. construction. c. Development of Tele-operated manipulators/tools/gadgets for inspection and maintenance tasks in nuclear power plants. Establishment of facility for aging studies and life management of components. Expenditure on R&D a.32 lakhs Rs. Design and development of Electronics and Computer Based C&I Systems for the new nuclear power plants. Boiling Water Reactors (BWR) are also operated by the Company meeting international standards in both safety and performance. Indigenisation of equipment/components. projects under construction and the supporting groups within NPCIL.44 lakhs 0. Upgradation of Electronics and Computer Based C&I Systems for the operating stations. commissioning and operation of Pressurized Heavy Water Reactors (PHWR) is near total. Benefits Derived as a Result of the above R&D: The establishment of in-house development and testing facilities related to Nuclear Systems has benefited the Company in the following areas: Techniques developed for repair/ rehabilitation/ refurbishment of nuclear power plant systems and components. d. reduction in project gestation period & costs and reduction in Person-Sievert (man-rem) expenditure.FORM-B A. 1. 2748. The establishment of in-house Control and Instrumentation Laboratories and facilities has benefited the Company in the following areas: Standardisation of hardware and software for computer based systems for new plants which will result in cost savings. ADAPTATION & INNOVATION The Company's self-reliance in the areas of design. B Capital Recurring Total Rs. 759. Development and Testing' of final software for several systems including safety and safety-related systems. RESEARCH & DEVELOPMENT (R&D) Specific areas in which R&D is carried out: R&D activities in the Company are oriented towards addressing the specific requirements emanating from its operating stations. Assimilation of technology with respect to the construction of Pressurized Water Reactors (PWR) and Fast Breeder Reactor (FBR) is also underway.9% Total R&D expenditure as % of total turnover - TECHNOLOGY ABSORPTION.12 lakhs Rs. Experimental evaluation of energy absorption by Integrated Yoke Studs-Yoke-Feeders assembly of Standardised 220 MWe PHWR Units ANNUAL REPORT 2008-09 55 . improvement in plant performance parameters. Continued efforts are made to upgrade and update the Company's knowledgebase and to adapt and absorb new technologies that are being evolved. These efforts are focused more towards continued enhancement of nuclear safety. 2. b.
is depicted in the chart.0 GLOBAL NUCLEAR POWER SCENARIO At present. The IAEA estimates indicate that about 266 nuclear power reactors have been STATUS OF NUCLEAR REACTOR WORLD OVER Nuclear.78 for the period 2012 to 2032. 266 44 0 Operating Under Construction Proposed 56 NUCLEAR POWER CORPORATION OF INDIA LIMITED . technologically proven. estimated that the growth of per capita electricity consumption in India will rise to 2500 kWh.12.790 MW Additional capacity expected : Renewables . CAPACITY UNDER CONSTRUCTION FOR 11th PLAN : FUEL-WISE Hydro.Captive . The per capita power consumption has increased to approximately 700 kWh. 15507. This has avoided about 290 million tons of CO2 emissions. . Such orders of installed capacity additions require deploying of all available energy sources including Nuclear resource of the country. of Reactors The share of various energy sources/electricity generation technologies.0 POWER SITUATION IN INDIA The Indian power sector has grown manifold in size and capacity since independence.14.0 RESURGENCE OF NUCLEAR POWER Nuclear Power is environment friendly. Nuclear Power contributes very little to atmospheric carbon dioxide. as also an economically competitive option and carries the benefits of energy security and diversity.GDP elasticity of 0. India is aspiring to augment nuclear power share. 3. 4% Thermal. ANNUAL CO2 EMISSION AVOIDED BY NUCLEAR POWER Source : CEA 1000 704 Saving in CO 2 Emission (Million Tonne) 300 250 200 150 100 50 0 2007-08 2011-12 2031-32 Note : Actuals for 2007-08 and Projected for 2011-12 & 2031-32 The Integrated Energy Policy of the Government of India. based on the assumption of 8% GDP growth and the falling electricity . Over 290 billion units have been generated from Nuclear power in India till March 2009. 77% Total 79.000 MW 500 436 No.000 MW. This requires installed capacity to be increased to 778 GWe by 2031-32. PER CAPITA CONSUMPTION OF ELECTRICITY IN INDIA GROWTH PATTERN kWh/year 2500 2.ANNEXURE 'B' TO THE DIRECTORS' REPORT Management Discussion and Analysis 1. there are 436 nuclear power reactors in operation and 44 nuclear power reactors under construction world over including 6 reactors in India. The compelling merits of nuclear power have brought a rethinking world over for opting it to be a prominent source of electricity. presently under construction and targeted for completion during XI Plan period. The Government of India has a mission of 'Power for all by 2012'. 19% 1000 5000 10000 15000 20000 25000 30000 35000 40000 Nuclear Power Capacity (MWe) Every 1000 MWe nuclear power capacity addition in future will help in reducing about 7 million tons of CO2 emissions every year. 60903. Nuclear power is thus seen as an important complementary source for energy security of the country. 3380.
EMCCR and upgradation works are in progress at NAPS-2 and KAPS-1. In addition to this. excellent safety performance and long continuous operation comparable to international standards in this regard. Russian China Korea India Bulgaria 3. The construction and commissioning of TAPS-3&4 and Kaiga-3 in about 5 years with substantial cost savings endorses this. Based on these studies. a generation target of 22. (No. The performance of the operating plants is depicted in the figures below: Four reactors of NPCIL have recorded uninterrupted operation of more than a year till date. The Government of India has taken various initiatives to augment fuel supply. About 32 new reactors need to be set up every year to meet Kyoto protocol target by 2050.Safety First Production Next.4% in various scenarios in the year 2031-32. It is expected that share of nuclear power in energy mix is expected to grow with the completion of projects under construction.5% by 2052.2 Renovation & Modernisation NPCIL has developed and carried out unique R&M activities in its stations.1 Nuclear Power Equation in the Country India has developed comprehensive capabilities in nuclear power programme including front end and back end technologies. including the one by DAE. the plant life has been extended by replacing the important equipment/components. as per the plans and schemes of the Government of India. Enmasse Feeder Replacement (EMFR) was carried out for the first time in the world. 4.1 Nuclear Power Plant Operations Given the mandate of expanding the nuclear power base within the country. Currently.5% by 2032 and 16. demonstrating the adherence to its motto . the share of nuclear power in terms of installed capacity is about 2. of Days) UNINTERRUPTED RUN SO FAR (NO. Nuclear Power Plants in India have registered high availability factor.000 MUs has been agreed for the year 2009-10. The current global scenario in nuclear power reactor construction is given in charts. KGS-1 (487 days) and KGS-2 (529 days). RAPS-4(373 days). The Integrated Energy Policy of the Government of India estimates share of nuclear power in the total primary energy mix to be between 4. of Reactors 10 6 5 5 1 Argentina 8 1 Finland 1 France 1 Iran 1 Pakistan 1 USA 2 2 Japan 2 1 (372 days).0 to 6.proposed world over in long term. It has been carried out subsequently at NAPS-1 and at RAPS-2. safety upgradation of the units was also completed successfully. namely Enmasse Coolant Channel Replacement (EMCCR) which has been successfully carried out at four reactors (RAPS-2. both through indigenous sources as well as import route. The health assessment of TAPS-1&2 was carried out using the latest and advanced techniques. NPCIL has recorded more than 295 reactor years. NPCIL owns and operates 16 nuclear power reactors. Resulting from these efforts and based on commitments. as of March 2009. in a PHWR.8%. Several studies. The generation of electricity for the year has been 14927 MUs as compared to 16956 MUs in the previous year. in addition to operating the Rajasthan Atomic Power Station Unit-1 on behalf of DAE. have estimated the nuclear share to rise to between 4 to 8.0 OVERVIEW 4. at MAPS-1. thus achieving reduction in gestation period. 4. Currently. OF DAYS) 600 500 400 300 200 100 0 KAPS-1 RAPS-4 KGS-1 KGS-2 372 373 529 487 COUNTRYWISE REACTORS UNDER CONSTRUCTION 15 11 No. of safe operation.3 Project Management NPCIL has re-engineered its NPPs execution strategies and methodology. 4. MAPS-1&2 and NAPS-1) with indigenous technology. These are KAPS- Ukraine 0 ANNUAL REPORT 2008-09 57 .
RAPP5&6 (2x220 MWe PHWRs) and KKNPP-1&2 (2x1000 MWe PWRs) are under construction.3&4 and RAPP . The proposals for financial sanction of KAPP .3 &4 MAPS 1&2 NAPS 1&2 KAPS 1&2 KAIGA 1. While opportunities including setting up of imported reactors based on international co-operation. the financial performance of the company will witness a quantum leap in the years to come. MoUs have been signed by NPCIL with companies from these countries for setting up reactors based on foreign co-operation.2 & 3 58 NUCLEAR POWER CORPORATION OF INDIA LIMITED . uranium supplies have begun to improve and capacity factors in years ahead will show progressive improvement. the outlook remains quite robust for NPCIL. The key challenges are increasing the industry capacity and development of large pool of qualified human resources. Very limited suppliers of large size forgings in the international market is proving to be a major bottleneck in the fast deployment of nuclear power world over. PHYSICAL PROGRESS AT A GLANCE PHWR Reactor Type Kaiga-4 Rated Capacity Status of physical progress at the end of the year Expected Commercial operation date RAPP-5 RAPP-6 PHWR PHWR VVER (PWR) KKNPP-1 VVER (PWR) KKNPP-2 While in the year 2008-09 the generation was limited to match fuel supply. The TARIFFS FOR VARIOUS STATIONS (PAISE/KWH) 350 300 250 200 150 100 50 0 TAPS 1&2 TAPS 3&4 RAPS 2.0 OUTLOOK 10 8 6 4 2 0 RAPS-1 MAPS-1 NAPS-1 KAPS-1 (1984) (1991) (1993) KGS-2 (2000) RAPS-3 (2000) TAPS-4 (2005) KGS-3 (2007) 4. With improved generation. Further. Intergovernmental agreements have been signed between India and the governments of USA. capacity utilisation and capacity addition. there will also be challenges along the way.5%. 6. In view of the foregoing. 220MWe 220MWe 220MWe 1000 MWe 1000 MWe Ready * Ready * 92% * 91% 80% 2010-11 *Linked with supply of fuel from the Government 4.0 CONCERNS The supply chain for large size equipment for LWRs could pose a constraint in planning these projects with desirable schedules. The average tariff of 230 paise/kWh is quite competitive compared to other sources of electricity. full power operation of reactors under safeguards will be possible. equipment and services and nuclear commerce emerge.5 Tariff The average tariff of NPCIL stations (excluding levies) during the year was 230 paise/kWh (as against 228 paise/kWh for 2007-08). NPCIL has already taken many initiatives in this regard.ANNEXURE 'B' TO THE DIRECTORS' REPORT Management Discussion and Analysis CONSRUCTION PERIODS OF FIRST UNITS COMMISSIONED OF NUCLEAR POWER PROJECTS 14 12 (No. namely Kaiga-4 (220 MWe PHWR). 5. of Years) tariff is notified by the Department of Atomic Energy in consultation with Central Electricity Authority. if the plant operates at minimum plant load factor of 68. The tariff for nuclear power is based on cost plus approach so as to enable the power station earn a return of 14% on equity.7&8 have been put up for consideration of the Government and the launch of these projects is planned in the year 2009 & 2010. consequent to successful conclusion of international co-operation agreements and supply of natural Uranium from foreign sources. These reactors are expected to commence operation in the year 2009-10.4 Status of Ongoing Projects Five reactors. France and Russian Federation. New projects based on international co-operation are also expected to be launched in the next year and beyond. Construction activities of Kaiga-4 and RAPP-5 are completed and they are awaiting fuel loading.
463 229 2.453.571 471 2005-06 4.642 4.060 10.189 1.622 1.460 80 ANNUAL REPORT 2008-09 59 .242 90 19.825 23.774 10.410 12.654 1.535 157 236 552 223 85 61 101.027 1.383 3.145 10.1000/-) Generation (MUs) Capacity Factor (%) 16.727 14. in crore) 2000-01 3.145 10.804 1.145 9.238 5.032 4.960 8.501 1.487.921 50 16.238 17.453.669 36.229 2.390 355 472 1.269 15.452 1.105 9.123 1.327 101.733 6.481 1.094 4.840 2.410 3.918 14.806 888 3.797 1.693 16. Expenditure W/o Networth Capital Reserve & Other Funds Borrowings Total Liabilities Total # of shares (FV-Rs.321.049 36.640 3.875 3.953 0 3.915 343 664 1.453.944 584 3.358 6.985 8.970 2.196 356 585 10.078 2.755 1.031 33.210 489 706 397 481 441 132 2007-08 4.389 1.248 1.191 801 4.889 1.319 2008-09 3.223 6.739 21.838 1.104 184 2.055 3.780 28.908 1.276 4.354 74 16.186 1.662 (0) 7.718 28.054 2.363 5.221 25.313 7.587 1.727 58.662 1.FINANCIAL PERFORMANCE ANALYSIS The financial performance of NPCIL for the last 10 years along with the key financial ratios are summarised as “Performance at a Glance Performance at a Glance For the Year Sales and Other Income Total Expenditure Interest Depreciation Profit for the Year Profit Before Tax Profit After Tax Dividend At the End of Year Gross Block Net Block Total Fixed Assets Investments Current Assets Current Liabilities Net Current Assets Total Assets Inventories Sundry Debtors Share Capital Reserves Misc.759 10.993 7.127 48.266 1.086 17.067 2.454 24.224 6.970 2.848 25.473 5.549 102 (Rs.595 0 20.112 12.453.205 1.953 327 353 1.647 7.884 15 7.205 340 4.446 12.319 156 1.785 63 17.199 85 16.382 9.971.960 216 496 10.797 2.621 82 12.197 5.203 1.270 229 880 9.079 6.604 521 2002-03 4.945 5.867 19.776 1.484 6.298 414 496 1.727 76.453.482 12.895 0 20.985 216 3.672 1.733 1.357 264 4.104 4.286 23.815 11.327 89.793 235 361 1.936 7.040 1.203 8.083 34.693 378 507 10.096 5.528 25.327 101.944 1.105 268 373 10.023 5.327 101.043 6.269 361 429 10.136 28.801 2.614 1.595 11.964 54 18.662 8.509 269 2001-02 4.726 1.145 7.012 1.843 1.927 14.245 6.967 1.123 825 163 1999-00 2.999.743 17.396 11.442 1.109.016 (16) 5.874 455 734 1.405 1.110 34.327 101.196 12.039 10.463 8.109 6.740 1.079 324 2006-07 4.165 1.205 (0) 9.709 76 17.713 514 2004-05 3.313 6.350 10.761 33.412 1.620 2.530 1.153 1.230 8.426 15.649 342 457 3.305 4.705 342 2003-04 5.673 18.270 8.269 3.617 14.145 8.598 2.127 41.785 81 19.882 0 21.563 279 283 1.822 14.
35 7.37 6.79 204 177 1468 16.38 5.50 40% 31% 1.05 17% 12% 9.35 5.44 5.64 6.86 6.) 14% 10% 7.26 4.51 5.53 2008-09 2007-08 2006-07 2005-06 2004-05 2003-04 2002-03 2001-02 2000-01 1999-00 60 NUCLEAR POWER CORPORATION OF INDIA LIMITED .38 3.59 0.38 0.99 0.41 5.58 0.40 0.63 0.24 6.47 3.25 0.50 49 44 2073 13.27 11.34 5.50 28% 24% 1.00 41% 27% 1.45 19% 15% 11.41 0.) Dividend per share (Rs.27 6.51 242 227 1616 40.50 45% 32% 1.26 8.00 37% 24% 6.16 0.28 10.ANNEXURE 'B' TO THE DIRECTORS' REPORT Management Discussion and Analysis Key Ratios Key Ratios Liquidity Current Ratio Quick Ratio Solvency Debt to Equity Debt to Asset Interest Cover Profitability Return on Sales Return on Equity Return on Assets Gross Profit Margin Net Profit Margin Efficiency Fixed Asset Turnover Total Asset Turnover Debtors Turnover Ratio Average Collection Period (days) Earnings per share (Rs.63 0.18 3.95 46 155 1975 46.90 0.10 6.44 5.60 1.27 0.57 0.51 0.01 5.26 2.51 242 21 1433 15.94 37 106 2044 31.17 1.89 19% 14% 7.15 2.40 0.25 58 315 1755 63.67 0.55 4.00 12% 2% 1% 42% 23% 25% 5% 3% 56% 39% 34% 8% 5% 59% 45% 41% 9% 6% 57% 49% 43% 10% 7% 61% 53% 47% 17% 11% 70% 62% 31% 12% 8% 51% 41% 34% 16% 11% 50% 40% 22% 11% 7% 48% 39% 3% 1% 1% 38% 29% 0.70 22% 15% 7.23 32 169 1874 50.58 5.27 5.99 46 180 1763 36.86 196 282 1650 18.) Book Value per share (Rs.26 0.61 0.26 5.34 0.
compliance with statutes. Quick Ratio Solvency Ratios Debt to Equity Ratio 5. Considered adequate for the electricity generating companies. returns on which are expected to materialise over the next few years. which would result in higher RoE in future.95 crore for the previous year. The scope of internal audit involves examination and evaluation of the adequacy and the effectiveness of system of internal accounting. INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY The Company has adequate internal control system commensurate with the nature and size of business which meets the objectives of efficient use and safeguarding of resources. predominantly through internal accruals.6109. Prospects for future financing through debt are good. ANNUAL REPORT 2008-09 61 . No equity support has been availed from the Government of India during last five years. The Company is currently executing some key projects involving huge outlay.58 Current assets are 5. The Company's collection for the year is nearly cent percent. Efficiency Ratios Fixed Asset Turnover Ratio Average Collection period WORKING CAPITAL 14% 49 days The net working capital was Rs. The Company plans to further optimise the working capital requirement to improve the financial position.5669. The Company is currently executing projects involving huge capital outlays. system & procedures and other operational areas.26 times 42% } 23% } 2% The Company has been able to keep production costs at optimum level. Company has sufficient funds to cover all its immediate and long term obligations.Financial Ratios at a Glance Name of Ratio Liquidity Ratios Current Ratio Ratio 5. RoE is lower due to increase in reserves.27 0.33 crore as on March 31st 2009 against Rs.58 times more than the current liabilities indicating that the Company has sufficient liquidity to meet its short term maturing liabilities. The Company's earnings adequately cover fixed charge liabilities.67 Interest Coverage Ratio Profitability Ratios Gross profit Margin Net Profit Margin Return on Equity 3. The observations raised out of the audit are subject to periodic review and compliance monitoring by the Audit Committee. policies and procedures and maintaining accuracy of recording of transaction and reporting the same promptly. Independent firms of Chartered Accountants who are appointed with the approval of the Audit Committee carry out the internal audit.
(ceased to be Director w. K.10. 30. the Board comprises of four whole time directors. Nageswara Rao Shri A. COMPANY'S PHILOSOPHY ON CORPORATE GOVERNANCE: The NPCIL's business philosophy appreciates the need of upholding the highest standard of corporate governance in its operations. 26. All directors. including Chairman & Managing Director and ten nonexecutive directors. of other Directorships No. BOARD OF DIRECTORS Composition of the Board Presently. S. of Committees on which Chairman/ Member apart from NPCIL Nil Chairman & Managing Director Dr. (ECIL) 3.e. BHAVINI 2. P.03.f.2008. including non-executive directors are professionals and have wide experience in their respective fields. Shri Jagdeep Ghai. Sadasivam Five Five Three Two Yes Yes Yes Not applicable Nil Nil Nil Nil Non-executive Non-Independent Directors (Government Directors) Two Yes (One) As Member. Jain Five Yes (one) CMD. The management of the Company believes that strong and sound corporate governance is an important instrument of protection of stakeholders and good corporate governance practices would enable it to face the challenges of growth effectively and successfully. Joshi (appointed w. 1.A. Electronics Corporation of India Ltd. Audit Committee Five Yes 62 NUCLEAR POWER CORPORATION OF INDIA LIMITED . The Board functions either as a full board or through committees constituted by it.e. The Board of Directors and its committees meet at regular intervals. 2008) No. Bhardwaj. (BHAVINI) Nil Nil Nil (One) BHAVINI (One) BHAVINI (Four) 1. 19.ANNEXURE 'C' TO THE DIRECTORS' REPORT Corporate Governance 1. A table showing present composition of the Board and attendance of the members of the Board at board meetings held during the year is given below: Year 2008-09 Five meetings of the Board of Directors were held during the year on 16.2008. 2.12.f.12.2008) Shri V.07. The attendance of directors was as follows: Name of Board Member Board meetings attended during the year Attendance at last AGM (August 22. A brief resume of all the directors is given in this annual report elsewhere.2008. Audit Committee (Four) As Member. Indian Rare Earths Ltd. 11.2009.09. R.2008) Shri V. (UCIL) Executive Non-Independent Directors (Whole Time Directors) Shri S. Bharatiya Nabhikiya Vidyut Nigam Ltd. (IREL) 4. Shri G. Uranium Corporation of India Ltd. P.05. Raja.2008 and 13.
Bhattacharya Two Three Two Not attended Not attended Yes Nil Nil Nil Notes: 1. Bhartiya Rail Bijlee Co. S. For the purpose of reckoning Chairmanship/membership of the Committees. 2007 issued by the Department of Public Enterprises (DPE) and Annexure to clause 2. Nil (One) BHAVINI Jindal Stainless Ltd. The following are the Permanent Invitees to the meetings of Board of Directors: 1. Banerjee. Agrawal. Executive Director (Safety. L. Sethi Shri T. 2008 and appointed as Director again w. May 12.e. K.f.f. G. The Company has a process to provide the information to the Board as required under Annexure IV of the Guidelines on Corporate Governance for Central Public Sector Enterprises (CPSEs). Nabi Nagar Power Generating Co. of Committees on which Chairman/ Member apart from NPCIL Nil Nil Nil Non-Executive Independent Directors Dr. Nil Nil Dr. December 16. 2. 2.C.Name of Board Member Board meetings attended during the year Attendance at last AGM (August 22. 2. NPCIL Shri Umesh Chandra. 6. Bajaj (ceased to be Director w. its management.18 of the Listing Agreement for the debt securities which was followed. West Bengal Power Development Corporation Ltd. Ltd. which in the judgment of the board may affect independence of judgment of the director. Pandey Shri S. Sr. Knowledge Management) Shri S. Thakur. Executive Director (Corporate Planning and Corporate Communication). 5. 7. 2008) Shri Anand Mohan Shri Chandan Roy Four Three One Not attended Yes Not applicable (One) BHAVINI Nil Nil Four Two Not attended Not attended Nil (Seven) 1. Ltd. Director (HR). None of the above directors has any material pecuniary relationship or transactions with the company. only Audit Committee and the Shareholders' Grievance Committee have been considered. ANNUAL REPORT 2008-09 63 . 3. of other Directorships No. S. 3. Ltd. Pvt. Shri Rakesh Nath Shri H. NTPC Vidyut Vyapar Nigam Ltd. P.e. 2008) No. Shri V. Ratnagiri Gas & Power Pvt. Damodar Valley Corporation 4. NTPC Ltd.
R. if any. Shares Allotment/Transfer Committee.ANNEXURE 'C' TO THE DIRECTORS' REPORT Corporate Governance Code of Conduct The Board of Directors has laid down Code of Conduct for the Board members and senior management personnel of the Company. Min. The members of audit committee are experienced and have fair knowledge of project finance. 1956.08 and 12. Jt. 2. Matters required to be included in the Director's Responsibility Statement to be included in the Board's report in terms of clause (2AA) of section 217 of the Companies Act. Recommending the fixation of audit fee of external auditors and also approval for payment for any other services. with the management. Audit Committee. K. accounts and corporate laws. 24. b. AUDIT COMMITTEE: Composition The Audit Committee consists of four members and out of which three are Non-Executive Independent Directors. on rotation basis (unit-wise). CEA Shri Anand Mohan. as applicable under the Model Listing Agreement for Debt Securities notified by SEBI and Guidelines on Corporate Governance for CPSEs 2007. Shri Jagdeep Ghai. PGCIL Dr. sufficient and credible.05. All the members of the Board and Senior Management Personnel have affirmed compliance of respective Code of Conduct during the financial year ended on March 31. 3. The role of the audit committee shall include the following: 1. Exe. 3. Changes. Four meetings of the Audit Committee were held during the year 2008-2009. Director (Finance). Role of Audit Committee The terms of reference of the Committee are spelt out in Section 292A of the Companies Act. Chairman. The Internal Auditors are also invited. A copy of the Code is available on the website of the Company. DAE Category Chairman Member Member Member Number of meetings attended Four Four Two Two The following are the Permanent Invitees to the meetings of the Audit Committee: 1. The following are the sub-committees of the Board: Board Sub-Committee on Contracts & Purchases. Pandey. G. Oversight of the company's financial reporting process and the disclosure of its financial information to ensure that the financial statement is correct. Bonds Allotment/Transfer Committee. 2. of Environment & Forests Shri V. 30. Number of meetings held and the dates on which they were held. Secretary (Finance).08. 64 NUCLEAR POWER CORPORATION OF INDIA LIMITED . Director (HR&CC). at Audit Committee meetings for participation in discussions. Investors' Grievance Redressal Committee. The meetings were held on 16. NPCIL Shri V. 2009. NPCIL. The Director (Finance) and General Manager (F&A) are the Permanent Invitees at the meetings and the Statutory Auditors attend as Special Invitees.07. in accounting policies and practices and reasons for the same. with particular reference to: a. Reviewing. Adviser.2009. Sadasivam. The present composition of the Audit Committee is given below: Name of the Member/Secretary Shri Rakesh Nath. Board Sub-Committee on Resource Mobilisation. the annual financial statements before submission to the board for approval.08. 1956.02. GM(F&A). Nagabhushana Rao.10.
7. Dr. d. with the management. 9.100 crores. CMD Shri Jagdeep Ghai. Joint Secretary (Finance). C. Presently. This ANNUAL REPORT 2008-09 65 . 4. 3. Bhattacharya. about the nature and scope of audit as well as post-audit discussion to ascertain any area of concern. R. Bhardwaj. Present Composition of the Committee 1. Shri T. g. with the management. Discussion with internal auditors any significant findings and any follow up thereon. Jain. The same principle is applicable in case of remuneration and perquisites of whole time directors: Non-official part-time independent Directors are paid only sitting fees at the rate approved by the Government for attending the Board Meetings as well as Sub-Committee Meetings. BOARD SUB-COMMITTEE ON RESOURCE MOBILISATION This Sub-Committee considers the requirements of funds raising from the market for the ongoing projects of the Company as per the approval received from the Government of India and decides various modalities for the same. DAE Chairman Member Member Member Member Shri S.c. Reviewing. shareholders (in case of non payment of declared dividends) and creditors. A. 8. Additional Secretary. 6. 2. Director (Technical) Shri A. 6. adequacy of the internal control systems. The Committee meets from time to time depending upon the requirements of the business. f. REMUNERATION COMMITTEE The Company follows Government of India pattern of pay scales and Dearness Allowance for its employees. Nagabhushana Rao. Looking into the reasons for substantial defaults in the payment to the depositors. e. including the structure of the internal audit department. Compliance with listing and other legal requirements relating to financial statements. 5. The perks available to the employees are broadly based on the pattern followed by the Government of India for its employees or as available to the employees of other PSEs of the Government of India. Director is only eligible for sitting fees as aforesaid. Hence. Reviewing the findings of any internal investigations by the internal auditors/auditors/agencies into matters where there is suspected fraud or irregularity or a failure of internal control systems of a material nature and reporting the matter to the board. the financial statements before submission to the board for approval. Reviewing the follow up action on the audit observations of the C&AG audit. staffing and seniority of the official heading the department. DAE Shri V. debenture holders. 5. Joshi. 10. Major accounting entries involving estimates based on the exercise of judgment by management.S. S. K. 4. ED (C&MM) and Shri V. Qualifications in the draft audit report. GM(F&A) are permanent invitees to the Committee. reporting structure coverage and frequency of internal audit. 11. Reviewing. 5. which are above the delegated powers of the officers of the Company and upto a limit of Rs. Sadasivam. 4. Director (Finance) Shri S. performance of statutory and internal auditors. P. no remuneration committee has been constituted. BOARD SUB-COMMITTEE ON CONTRACTS & PURCHASES This Sub-Committee is entrusted with the responsibility of implementing the decisions of the Board relating to Contracts & Purchases for the Company. Significant adjustments made in the financial statements arising out of audit findings. Reviewing the adequacy of internal audit function. Goeal. Disclosure of any related party transactions. Discussion with statutory auditors before the audit commences. if any.
The sub-committee presently comprises of the following members: 1. PGCIL Chairman Member Member The committee is vested with the following powers: a) b) c) d) e) f) To look into / monitor investors' complaints like transfer of bonds / debentures / securities. DAE (vice Shri V. issuance of bond certificates and other matters incidental thereto. etc. 2. Additional Secretary. Dr. INVESTORS' GRIEVANCE REDRESSAL COMMITTEE: The present composition of the Committee is given below: 1. 3. GM(F&A) is Permanent Invitee to the Committee. K. Jain. Director (Finance) Shri A. One meeting of the Committee was held during the year on 13th March 2009. non-receipt of interest. To secure attendance of outsiders with relevant expertise. CMD Shri Jagdeep Ghai. Additional Secretary. CMD Shri Jagdeep Ghai. P. Composition 1. redemption proceeds. Director (Finance) Chairman Member 9. Jain. The following were present at the meeting: 66 NUCLEAR POWER CORPORATION OF INDIA LIMITED . K. R. 7. 3.). Sadasivam. if it considers necessary. S. ED(HR&CC).ANNEXURE 'C' TO THE DIRECTORS' REPORT Corporate Governance Committee has also been assigned the additional responsibility of considering disposal of Bonds in the market received from the SEBs against the outstanding dues in accordance with the recommendations of the Ahluwalia Committee. Joint Secretary (Finance). 4. Sadasivam. DAE Chairman Member Member Member Shri V. To investigate any activity within its terms of reference. 4. DAE Chairman Member Member Member BONDS ALLOTMENT/TRANSFER COMMITTEE The Committee considers the allotment of Bonds to the applicants and subsequent transfers of holdings. S. Joshi. P. DAE Shri V. 2. R. Nagabhushana Rao. Jain. Dr. Director (Finance) Shri A. Joint Secretary (Fin. S. DAE Shri V. The Company Secretary acts as the Secretary to the Committee and also as compliance officer to liaise with the regulatory authorities. To advise on the matters relating to rendering of services to the investors. 8. SHARES ALLOTMENT/TRANSFER COMMITTEE This Committee considers the allotment and transfer of Shares and issuance of share certificates and other matters incidental thereto. 2. Raja) Shri Jagdeep Ghai. Joshi. CMD Shri Jagdeep Ghai. Shri A . To obtain outside legal or other professional advice. Joshi. To seek information from any employee. 2. Dr.P. K. 3. Additional Secretary. Composition 1.P. Director(Finance) Shri Anand Mohan.
6. plant performance statistics. As on March 31. Shri Anand Mohan Shri J. 2009. 3. 10.nic. there were no transactions of material nature with the directors or their relatives or the management that had potential conflict with the interest of the Company. Address. 4. 3. The Company has complied with the 'Corporate Governance guidelines for CPSEs' issued by the Department of Public Enterprises as directed by the DAE and quarterly compliance reports have been regularly submitted to the DAE. 7. MEANS OF COMMUNICATION 1. Office Orders and Instructions. GENERAL SHARE HOLDERS INFORMATION The total share holding of the Company is by the Government of India through its nominees. A committee has been constituted to formulate a policy on risk management aspects. Subsidiary Company The Company has no subsidiary. DISCLOSURES 1. 11. Matters of interest to employees are circulated internally in the form of Notices. risk management is a part of financial management system based on a Safety conscious approach. during the last three years. There were no instances of non-compliance on any matter related to the capital markets. The hit-rate of the web site is significant.P. Details of the bondholders' grievances received during the year Queries received from the bondholders were replied to promptly. Tel. Mumbai-400 005. FAQ. Half yearly financial results of the Company are published in all editions of The Economics Times (English) and Navbharat Times (Hindi).npcil. World Trade Centre. Policy on risk management would be implemented in the company. financial performance. No personnel has been denied access to the Audit Committee. The Company participates in important exhibitions as an exercise towards public awareness on nuclear power and informative booklets/pamphlets are distributed to the visitors. CEO/CFO Certificate was placed before the Board at its meeting held on July 17. Company Secretary. A Committee has been constituted to formulate a policy on risk management aspects. 16th Floor. 3. During the year. organisation. 9. The Company's website (http://www. no complaints were pending. Cuffe Parade. ANNUAL REPORT 2008-09 67 . etc. 2. 5. 2. a separate policy on risk management is being formulated. of compliance officer Shri Srikar R. reference articles. 2009 and is being provided in the Annual Report. 5. Joshi 2. In NPCIL.in) provides a variety of information on the Company like profile. Ghai Chairman Member Member Name. in Delhi and Maharashtra Times (Marathi) in Mumbai. Shri A. Management's Discussion & Analysis forms part of the annual report.1. 4.(O) 022-22180281 (Fax) 022-2218 5464. Pai. telephone no. However. Centre-1.K. Nos. where the Registered office of the company is situated.
market value of the bonds does not fluctuate much. so far. however.nic. Since 100% shares are owned by the Government of India.m. Financial Results for the year ending on 31st March 2010 will be published on or before May 30. being of no significance. there is no resolution proposed to be passed by Postal Ballot. However. (NSDL) and Central Depository Services Ltd.00 p. Venue Registered Office 16th Floor. 2006 2. bonds issued by the Company are listed with the National Stock Exchange of India since December 1996. Distribution of Bonds Holding The bonds are issued by private placement.npcil. The bonds are mostly held by the Banks. information regarding date of payment of Dividend and book closure is not given here. 2010. as and when decisions of shareholders/investors will be sought (on matters of critical nature and notified by the GOI). information relating to market price movements of bonds is not given. are admitted to depository systems of the NSDL and CDSL. 68 NUCLEAR POWER CORPORATION OF INDIA LIMITED . Therefore. FINANCIAL CALENDAR From April 2009 to March 2010 Key Financial reporting dates for the financial year: ? ? Financial Results for the half year ending 30th September 2009 will be published on or before October 31. (CDSL) for dematerialisation facility. Financial Institutions and Employees Gratuity/Provident/Death Relief Funds of various organisations. However. The Bonds are traded on the Wholesale Debt Market Segment of the NSE. July 14.in) of the Company.30 p. Trading of the bonds does occasionally take place.m Postal Ballot At the ensuing Annual General Meeting. All bonds issued. World Trade Centre. Dematerialisation The Company has entered into agreements with the National Securities Depository Ltd.00 p. Cuffe Parade.m. 2007 2.ANNEXURE 'C' TO THE DIRECTORS' REPORT Corporate Governance General Body Meetings The last three Annual General Meetings were held as under: Financial year 2007-08 Date & Time August 22. 2008 2. Market Price Data The shares of the Company are not listed on any Stock Exchange. Mumbai-400 005. 2009. Centre-1. The Financial Results will be simultaneously hosted on the website (www. same as above same as above 2006-07 2005-06 August 3. the Company will extend the facility of voting by postal ballot.
Centre-1. Mumbai-400 094. Registered Office 16th Floor. Telephone No. declaration regarding compliance of Code of Conduct made by Chairman & Managing Director is given below: All the members of the Board and Senior Management Personnel have affirmed compliance of Code of Conduct for the Financial Year ended on 31st March. World Trade Centre.com Plant Locations: The details of the plant locations of the Company are available elsewhere in the report. Based on the affirmation received from Board Members and Senior Management Personnel. Dr. 6-10. Anushaktinagar. 2009 ANNUAL REPORT 2008-09 69 .Registrars and Transfer agent appointed for servicing of the Bonds issued by the Company: TSR Darashaw Limited. 20. (S. Address for Correspondence 1. Cuffe Parade. Moses Road. E. Mahalaxmi. Fax-022-66568494 Email: csg-unit@tsrdarashaw. K. JAIN) Chairman & Managing Director Place : Mumbai Date : July 17. Mumbai-400 005. Mumbai-400 011. Corporate Office Nabhikiya Urja Bhavan. Haji Moosa Patravala Industrial Estate.022-66568484. 2009. 2.
which were forwarded by the Department of Atomic Energy (DAE).2009 P. PARIKH FCS: 327 CP: 1228 70 NUCLEAR POWER CORPORATION OF INDIA LIMITED .18 of the Listing Agreement for debt securities of the said Company with National Stock Exchange of India Ltd. adopted by the Company for ensuring the compliance with the conditions of the Corporate Governance. for compliance with the instructions contained therein. Our examination was limited to a review of the procedures and implementation thereof. The Corporate Governance requirements specified in clause 2.18 of the Listing Agreement for debt securities as also in the said guidelines on Corporate Governance for Central Public Sector Enterprises are recommendatory and may be implemented as per the discretion of the Company. In our opinion and to the best of our information and according to the explanation given to us and the representations made by the management we certify that the Company has generally complied with the conditions of Corporate Governance to the extent possible as stipulated in clause 2. as stipulated in clause 2.18 of the above mentioned Listing Agreement and in the said guidelines on Corporate Governance for Central Public Sector Enterprises We further state that such compliance is neither an assurance as to the future viability of the Company nor the efficiency or effectiveness with which the management has conducted the affairs of the Company. We have examined the compliance of the conditions of corporate governance by Nuclear Power Corporation of India Limited. and also in the guidelines on Corporate Governance for Central Public Sector Enterprises.ANNEXURE 'D' TO THE DIRECTORS' REPORT Certificate of the Practising Company Secretary on Corporate Governance To The Members of Nuclear Power Corporation of India Limited World Trade Centre Mumbai 400 005. It is neither an audit nor an expression of opinion on the financial statements of the Company. 2007. N. The compliance of the conditions of Corporate Governance is the responsibility of the management. For Parikh & Associates Practising Company Secretaries Place : Mumbai Date : July 11. the Administrative Ministry of NPCIL. for the year ended on 31st March 2009.
Letters have also been issued to obtain the balance confirmation in respect of deposits given to government /public bodies. as required under Accounting Standard 15 on "Employee Benefits“ has not been made The Corporation is generally regular in depositing all Statutory dues.ANNEXURE 'E' TO THE DIRECTORS' REPORT Management Replies to the Observations made in the Statutory Auditors' Report Sl. 2009-2010. for the period 2003 to 31. No. reconciliation of DDR heads and settlement thereof is done on monthly basis. As per the provisions of the Water Cess Act.3. deposits given. the consumption data has been furnished by the Unit to the Pollution Control Board. an amount of Rs 16. Action taken / Clarification With DAE. Statutory Auditors' observations Balances with DAE and other related departments.2008 has not beennon-receipt of demand notice from paid to Rajasthan Pollution Control Board. However. 1. Periodical reconciliation for fuel and heavy water is done with DAE. 3. bodies/public bodies at certain units are subject to confirmation / reconciliation. ANNUAL REPORT 2008-09 71 . no claim in this regard has been received from the Board. for the said Board. The actuarial valuation for provision of liability for post retirement medical benefits shall be done during the current financial year. i. 2.3.2008 for RAPS-2 has not been made.55 crore against Water Cess.e. because of which the payment of Water Cess for the period 2003 to 31. account with govt. Provision for liability for post retirement medical benefits. At Rajasthan Rawatbhata Site.
illegal or violative of the Company's code of conduct.K. (ii) these statements together present a true and fair view of the Company's affairs and are in compliance with existing accounting standards. deficiencies in the design or operation of internal controls. and (iii) instances of significant deviations in the Company's internal control system. For and on behalf of Nuclear Power Corporation of India Ltd. 2009 (JAGDEEP GHAI) Director (Finance) (S. JAIN) Chairman & Managing Director 72 NUCLEAR POWER CORPORATION OF INDIA LIMITED .CEO/CFO CERTIFICATION It is certified that: (a) We have reviewed financial statements and the cash flow statement for the year ended 31st March 2009 and that to the best of our knowledge and belief: (i) these statements do not contain any materially untrue statement or omit any material fact or statements that might be misleading. if any. (ii) significant changes in accounting policies during the year and that the same have been disclosed in the notes to the financial statements. applicable laws and regulations (b) There are to the best of our knowledge and belief. of which we are aware and the steps we have taken or propose to take to rectify these deficiencies. no transactions entered into by the Company during the year which are fraudulent. (d) We have indicated to the auditors and the Audit Committee (i) significant changes in internal control during the year. Place : Mumbai Date : July 14. (c) We accept responsibility for establishing and maintaining internal controls and that we have evaluated the effectiveness of the internal control system of the Company and we have disclosed to the auditors and the Audit Committee.
These financial statements are the responsibility of the Corporation's Management. 3. the Profit & Loss Account and also the Cash Flow Statement of the corporation for the year ended on that date annexed thereto. as well as evaluating the overall financial statement presentation.21 of Schedule-16 in respect of additional liability for the period 01.03. The Corporation is also governed by The Atomic Energy Act. Except in the matter stated in paragraph 7(a) below. in which.32 and 2. 2. Balances in respect of Department of Atomic Energy (DAE) and its other related wings/departments.13 lacs (net of amount allocated to capital works Rs 6318. which as explained to us being sensitive and confidential in nature. we report that: a) b) As mentioned in Note 2. which has resulted in increase in the profit for the year by Rs 419.39 lacs. An audit also includes examining. evidence supporting the amounts and disclosures in the financial statements. we have relied on the Management's representation / Technical Staff certification affirming future economic benefit. on a test basis. Further to above. We believe that our audit provides a reasonable basis for our opinion. 1956 (hereinafter referred to as 'Order') and on the basis of such checks as we considered appropriate and according to information and explanations given to us. 2009.2008 accounted for during the current year pursuant to implementation of Sixth Pay commission and its impact of decreasing the profit for the current year by Rs 22687. are incorporated the accounts of certain Power Stations and Projects audited by the Branch Auditors appointed by the Comptroller & Auditor General of India and whose reports have been considered in preparation of this report. We have audited the attached Balance Sheet of Nuclear Power Corporation of India Limited (herein after referred to as “Corporation”) as at 31st March. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. 2003 (as amended by Notification No. 4. expenditure and dues pertaining to Heavy water and Fuel Charges. ANNUAL REPORT 2008-09 73 . We draw attention to the following: a) Note No.2004) issued by the Government of India in terms of Sub-Section (4A) of Section 227 of the Companies Act. the provisions of said Act have prevailed wherever they have been inconsistent with the provision of the Companies Act. a statement on the matters specified in paragraph 4 and 5 of the said order.2006 to 31. 1962.01. we enclose in the Annexure. Account with Government Bodies/ Public Bodies at certain units are subject to confirmation/ reconciliation and consequential adjustment thereof. the information as required by para 4D (a) and para 4D (c) of Part ll of Schedule Vl to the Companies Act. c) 6. Note No. Deposits given. 5.14 lacs and recovery from DAE Rs 1459.5.41 lacs). As required by the Companies (Auditor's Report) order. An audit also includes assessing the accounting principles used and significant estimates made by the Management.33 of Schedule-16.11. which to the best of our knowledge and belief were necessary for the purposes of our audit. GSR 766(E) dated 25. we report that: a) We have obtained all the information and explanations.i of Schedule -16 in respect of the change in Accounting Policy pursuant to the withdrawal of Guidance Note on Accounting of IEDC by the Institute of Chartered Accountants of India in relation to allocation of expenditure during construction period. serviceable and good condition in respect of Capital goods & Stores and NonMoving/Slow Moving Stores & Spares. except information and details in respect of usage. 1956 has not been disclosed being confidential in nature. Further to our comments in Annexure referred to in paragraph 4 above. 2.AUDITORS' REPORT The Members of NUCLEAR POWER CORPORATION OF INDIA LIMITED 1. 2. b) 7. we conducted our audit in accordance with Auditing Standards generally accepted in India. In view of technical reasons. 1956. Our responsibility is to express an opinion on these financial statements based on our audit.
[ K. Liabilities.AUDITORS' REPORT are not made available for verification.10. provisions of clause (g) of sub section (1) of Section 274 of the Companies Act. in the manner so required and give a true and fair view in conformity with Accounting Principles generally accepted in India: i.R. 829 (E) dated 21. 1956. ii. Accordingly we are unable to express our opinion on the same. the said accounts read together with Significant Accounting Policies and Notes on Accounts in Schedule-16. give the information as required by the Companies Act.2003 issued by the Department of Company Affairs. due to secrecy attached as per the Atomic Energy Act. the quantum of income and expenditure and their effect on the profit for the year (which is not ascertainable). in the case of Profit and Loss account. 1962. G.S. and in the case of Cash Flow Statement. The Branch Auditor's reports have been forwarded to us and have been appropriately dealt with in framing this report. The Balance Sheet. proper books of accounts as required by the law have been kept by the Corporation so far as appears from our examination of such books and proper returns adequate for the purpose of our audit have been received from power stations and projects not visited by us.No. in the case of Balance Sheet. 7(a) and 7(d) above and consequential impact of paragraph 5(c) and 7(d) on the value of Assets. in our opinion and to the best of information and according to explanations given to us. Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act. of the Profit of the corporation for the year ended on that date. In our opinion. pursuant to Notification No. of the state of affairs of the corporation as at 31st March. JHANWAR ] Partner M. Being a Government company. 2009 74 NUCLEAR POWER CORPORATION OF INDIA LIMITED . Subject to matters contained in paragraph 5. Government of India. Profit and Loss Account and the Cash Flow Statement dealt with by this report are in agreement with the books of accounts and the audited returns received from the power stations and projects.14080 c) d) e) f) Place : Mumbai Dated : 8th May. iii. the Balance Sheet. For Kalani & Company. L. Chartered Accountants. are not applicable to the corporation. 1956 except Accounting Standard-15 on “Employee Benefits” in relation to non provision of liability for Post Retirement Medical Benefits (quantum of the liability not ascertained by the Corporation). 2009. b) In our opinion. 1956. of the Cash Flows for the year ended on that date.
the Corporation has not accepted any deposits in terms of Section 58A and 58AA or any other relevant provisions of the Companies Act. clause (v) (b) is not applicable. Wealth tax. Customs duty. According to information and explanations given to us. (vi) In our opinion and according to the information and explanations given to us. Income Tax. As informed. hence the going concern status of the corporation is not affected. No material discrepancies were reported to be noticed on verification between physical stocks and book records at various units of the Corporation. In our opinion and according to the information and explanations given. We have broadly reviewed the accounts and records maintained by the Corporation pursuant to rules made by the Central Government for the maintenance of cost records under section 209(1) (d) of the Companies Act. there are adequate internal control systems commensurate with the size of the Corporation and nature of its business for the purchase of inventories. (iv) (v) (a) As informed by the management. ANNUAL REPORT 2008-09 75 . the Corporation has an Internal Audit system commensurate with its size and nature of its business. (b) All the fixed assets have not been physically verified by the management during the year bur there is a regular program of verification which.55 Crores against Water Cess. 1956.03. equipment and other assets and with regard to sale of electricity and rendering of services. Accordingly provisions of clause 4(iii) (a) to (g) of the Order are not applicable to the Corporation. No material discrepancies have been noticed on such physical verification. Government of India (GOI) are credited to the DAE's account in the books of the Corporation and intimated to DAE. (b) The procedures for physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the Corporation and the nature of its business. 1956 and we are of the opinion that prima facie the prescribed accounts and records have been made and maintained. Further on the basis of examination of books and records of the Corporation and according to the information and explanations given to us. 1956. for the reason informed of non-receipt of demand notice from the said Board. (ii) (a) The inventory has been physically verified by the management at reasonable intervals. however. Provision of Employees State Insurance Act. We have not. In our opinion. At Rajasthan Rawatbhata Site. (b) In view of the clause (v) (a) above. (iii) The Corporation has not granted or taken any loans secured or unsecured to/from companies. in our opinion. made nor required to make the detailed examination of the records with a view to determine whether they are accurate or complete. Necessary certificates have been obtained by the corporation in respect of material lying with the third parties. (c) During the year.2008.ANNEXURE TO THE AUDITORS' REPORT Statement referred to in paragraph (4) of our report of even date on the Accounts of the Nuclear Power Corporation of India Limited for the year ended 31st March 2009 (i) (a) The Corporation has generally maintained proper records showing full particulars including quantitative details and situation of fixed assets. Excise duty. has not been paid to Rajasthan Pollution Control Board. 1948 are not applicable to the Corporation. 1956 that needs to be entered into the register required to be maintained under the said Section 301. firms or other parties covered in the register maintained u/s 301 of the Companies Act. 16. neither we have observed nor we have been reported by the branch auditors for any continuing failure to correct major weaknesses in the internal controls systems. no order has been passed by the Company Law Board or The National Company Law Tribunal or Reserve Bank of India or any Court or any other Tribunal. an amount of Rs. is reasonable having regard to the size of the Corporation and nature of its assets. Provident Fund dues in respect of employees on deputation from Department of Atomic Energy (DAE). Service Tax and other statutory dues applicable to it. Sales tax. fixed assets. there are no contracts and arrangements referred to in Section 301 of the Companies Act. for the period 2003 to 31. Investor Education and Protection Fund. Cess. (c) The Corporation is maintaining proper records of inventory. (vii) (viii) (ix) (a) The Corporation is generally regular in depositing with appropriate authorities the undisputed Statutory dues including Provident Fund. the Corporation has not disposed off substantial part of its fixed assets.
3. banks or bond holders. the Corporation has not made any preferential allotment of shares during the year. we report that no funds have been raised on short-term basis hence the question of the same being utilized for long-term investment does not arise. no undisputed amounts payable in respect of aforesaid dues were in arrears as at March 31. the Corporation is not dealing in or trading in the shares. According to the information and explanations given to us. the Corporation has not given any guarantee for loans taken by others. JHANWAR ] Partner M. [ K.2003 payable to Rajasthan State Pollution Control Board 20. According to the information and explanations given to us. 1977 Water (Prevention and Control of Pollution) Cess Act. The Corporation is not a chit fund or a nidhi/mutual benefit/society. have not been deposited on account of matters pending before appellate authorities Statute Income Tax Act. 1977 x) (xi) (xii) (xiii) (xiv) Water Cess for the period 1. 2009 76 NUCLEAR POWER CORPORATION OF INDIA LIMITED . the provisions of clause 4(xiv) of the Order are not applicable to the Corporation. L. from Banks or Financial Institutions. the provisions of clause 4 (xiii) of the Order are not applicable to the Corporation. the Corporation has not granted any loans and advances on the basis of security by way of pledge of shares. According to the information and explanations given. For Kalani & Company. Therefore. (b) The disputed Statutory dues. no fraud on or by the Corporation has been noticed or reported during the year.1984 to 12. (xviii) According to the information and explanations given. 2009 nor has incurred any cash losses during the financial year covered under audit and in the immediately preceding financial year.79 Cess Appellate Committee of Maharashtra Pollution Control Board Rajasthan High Court Amount (Rs' Crore) Forums where the dispute is pending 1. In our opinion the term loans have been applied for the purpose for which they were raised. debentures and other securities. for a period of more than six months from the date they became payable. According to the information and explanations given to us. Chartered Accountants. 2009. the Corporation has not defaulted in repayment of dues to any financial institutions.17CIT Appeals Mumbai Not ascertainable in the absence of data for water consumption The Corporation has neither accumulated losses as at March 31. (xix) (xx) (xxi) Securities have been created by the Corporation in respect of bonds issued.4. (xv) (xvi) (xvii) According to the information and explanations given and based on overall examination of Balance Sheet of the Corporation. debentures and other investments.14080 Place : Mumbai Dated : 8th May.No.06CIT Appeals Surat 3. Accordingly. securities. as detailed below.ANNEXURE TO THE AUDITORS' REPORT According to the information and explanations given to us. The Corporation has not raised any money by way of public issue during the year. In our opinion and according to the information and explanations given. 1961 Nature of Dues/ Matter of Dispute Deduction of Tax at source (TDS) Additions to Returned Income by AO for AY 2006-07 Water (Prevention Water Cess payable to and Control of Maharashtra Pollution Pollution) Control Board Cess Act.
COMMENTS OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA COMMENTS OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA UNDER SECTION 619(4) OF THE COMPANIES ACT. 1956 is the responsibility of the management of the company. I on the behalf of the Comptroller and Auditor General of India have conducted a supplementary audit under Section 619(3) (b) of the Companies Act. the Institute of Chartered Accountants of India. ANNUAL REPORT 2008-09 77 . 1956. Audit Board-I. 1956 ON THE ACCOUNTS OF NUCLEAR POWER CORPORATION OF INDIA LIMITED FOR THE YEAR ENDED 31 MARCH 2009. On the basis of my audit nothing significant has come to my knowledge which would give rise to any comment upon or supplement to Statutory Auditors' report under Section 619(4) of the Companies Act. 1956 of the financial statements of Nuclear Power Corporation of India Limited for the year ended 31 March 2009. 1956 based on independent audit in accordance with the auditing and assurance standards prescribed by their professional body. For and on the behalf of the Comptroller and Auditor General of India (MRIDULA SAPRU) Place : Mumbai Date : 6th July. 2009 Principal Director of Commercial Audit and Ex-Officio Member. The preparation of financial statements of Nuclear Power Corporation of India Limited for the year ended 31 March 2009 in accordance with the financial reporting framework prescribed under the Companies Act. The statutory auditor appointed by the Comptroller and Auditor General of India under Section 619(2) of the Companies Act. 1956 is responsible for expressing opinion on these financial statements under Section 227 of the Companies Act. This is stated to have been done by them vide their Audit Report dated 8 May 2009. This supplementary audit has been carried out independently without access to the working papers of the statutory auditors and is limited primarily to the inquiries of the statutory auditors and company personnel and a selective examination of some of the accounting records. Mumbai.
2. K. Investments 3.22 of Sch.23 604026.98 1122140.41 24139.21 1384608.72 50655. APPLICATION OF FUNDS 1.20 668700.23 8 37813.27 1204095.65 40102.80 3426912.19 537360.93 2807788. PAI) Company Secretary (JAGDEEP GHAI) Director (Finance) (S.64 18348.00 539584. 14080) Place : Mumbai Date : May 8.07 123833.90 273262.06 690765.84 6 7 5 1675855.82 1659501.55 3 4 656300.69 0.00 3666333.83 42940. Current Assets. I.01 36107.17 1014533.15 299270. 2009 (Rupees in Lacs) Schedule No.47 45845.BALANCE SHEET As at March 31. 2008 1014533.83 104288.61 1 2 As at 31st March. JAIN) Chairman and Managing Director 78 NUCLEAR POWER CORPORATION OF INDIA LIMITED .72 17938. 2009 As at 31st March.35 170265. Fixed Assets a) Gross Block Less : Depreciation Net Block b) Capital Work in Progress 2.44 46681. 2009 (SRIKAR R.23 566250. SOURCES OF FUNDS 1.00 745621.90 2506749.80 170265.25 86349.55 566932.31 715283.27 1249878.35 1735960.88 1071828.61 178665.61 610994.35 1401921.05 1208284.97 515512.97 9898.16 30327. Shareholder's Funds a) Share Capital b) Reserves and Surplus 2.82 For and on behalf of Board of Directors NUCLEAR POWER CORPORATION OF INDIA LIMITED (K.70 3666333. Loan Funds a) Secured Loans b) Unsecured Loans 3.05 3426912.L. JHANWAR) Partner (Membership No. Heavy Water Lease charges Recoverable (Refer Note no. Deferred Tax Liability Less : Deferred Tax Recoverable TOTAL II.69 178665.16) 4. Loans and Advances a) Inventories b) Sundry Debtors c) Cash and bank balances d) Other Current Assets e) Loans and Advances Less: Current Liabilities and Provisions a) Current Liabilities b) Provisions Net Current Assets “Significant Accounting Policies & Notes on Accounts Schedules 1 to 16 form integral part of accounts" TOTAL In terms of our report of even date attached FOR KALANI & COMPANY Chartered Accountants 16 9 93506.
80 107849. 14080) Place : Mumbai Date : May 8. JAIN) Chairman and Managing Director ANNUAL REPORT 2008-09 79 .65 217278. K.45 22314.07 10000.56 380148.05 8399.65 30937.12 26309.53 79815.52 340456.00 79424.88 426635. INCOME Sales : Electrical Energy Other Income TOTAL INCOME EXPENDITURE Fuel & Heavy Water Generation Expenditure Employee's Remunaration and Benefits Administration and Other Expenses Interest On Bonds & Term Loan On Foreign Loans Less : Transferred to expenditure during Construction (Sch.L.07 43.16 45542.39 10000. 2009 (Rupees in Lacs) Schedule No.51 3238.12 28892.89 400.76 15167.00 0. 6A) Depreciation TOTAL EXPENDITURE PROFIT FOR THE YEAR Prior Period Adjustments (Net) PROFIT BEFORE TAX Provision for : Income Tax Current Tax Earlier Year Tax Fringe Benefit Tax Current Tax Earlier Year Tax Wealth Tax Current Tax Earlier Year Tax Provision for Deferred Tax Less : Deferred Tax Recoverable PROFIT AFTER TAX Balance Brought forward from previous year Balance available for appropriations APPROPRIATIONS : Interim Dividend paid Tax on Interim Dividend paid Proposed Dividend For The Year Tax on Proposed Dividend Transfer to General Reserve Balance carried to Balance Sheet "Significant Accounting Policies & Notes on Accounts Schedules 1 to 16 form integral part of accounts" TOTAL EARNING PER SHARE (EPS) (Amount in Rs.00 585.60 120311.00 1.05 0.34 731.27 70608.91 34728.67 123553.83 (8385.21 100000.00 1699.30 3291.00 3948.00 5098.43 0.07 105503.38 301055.51 79092. 2009 (SRIKAR R. PAI) Company Secretary (JAGDEEP GHAI) Director (Finance) (S.PROFIT AND LOSS ACCOUNT For the year ended March 31.89 20707.80 48064. JHANWAR) Partner (Membership No.89 8399.32 (190.27 106.50 For and on behalf of Board of Directors NUCLEAR POWER CORPORATION OF INDIA LIMITED (K.97 607.74 15 48878.) In terms of our report of even date attached FOR KALANI & COMPANY Chartered Accountants For the Year ended 31st March 2009 For the Year ended 31st March 2008 10 11 12 13 14 53506.40 79424.36 11311.65 306324.24 39691.76 66249.00 23.52 550.27 30000.38 26.04) 120501.00 64259.62 109428.88 343416.98 17554.00 48064.24 3291.04 83219.00 98064.12 48694.58 29294.58 73378.50 2354.36 0.65 16 123553.92 108212.05 23.41) 48077.43 49.36 608.67 217278.84 44128.
00 122201.00 10000.07 1046.24 2556.00 0.00 80000.00 0.1.90 41561.27 1014533.00 122201.611 Equity Shares allotted as fully paid up without payment being received in cash. Subscribed and Paid up 101453327 (Previous year:101453327) Equity Shares of Rs.27 (Rupees in Lacs) SCHEDULE .27 18758.77 6289.00 1014533.00 80000.83 759.51 104.1 SHARE CAPITAL Authorised 150.90 6289.27 1014533. 96.83 784.00 1417. 2008 1500000.SCHEDULES ANNEXED TO AND FORMING PART OF ACCOUNTS For the year ended March 31.18 26597.00 63979.88 75738.71 0.63 80 NUCLEAR POWER CORPORATION OF INDIA LIMITED .00 80000.97 4199.23 2324.27 1500000.75 900075.43 5002.02 0.31 4922.000 Equity shares of Rs.000/. 2009 SCHEDULE .12 0.10 48504.00 2001.each Issued.53 16020.00 80000.00 4704.19 27219.41 181.68.44 36748.2 RESERVES AND SURPLUS CAPITAL RESERVE Balance as per last Balance Sheet Add : Transferred from Renovation & Modernisation Fund Add : Transferred from Research & Development Fund Less : Transfer of depreciation on R&D assets to R&D fund for earlier years Less : Depreciation on R&D Assets for current year GENERAL RESERVE Balance as per last Balance Sheet Add : Transferred from Profit and Loss Account Less : Deferred Tax Liability Less : Deferred Tax Recoverable BOND REDEMPTION RESERVE Balance as per last Balance Sheet Add : Additions during the year Less : Deductions during the year DECOMMISSIONING FUND Balance as per last Balance Sheet Add : Levy for the year : Reversal of Income Tax : Interest on Fund Investments Less : Payment of Income Tax RENOVATION AND MODERNISATION FUND Balance as per last Balance Sheet Add : Reversal of Income Tax Add : Interest on Fund Investments Less : Transferred to Capital Reserve Less : Payment of Income Tax RESEARCH AND DEVELOPMENT FUND Balance as per last Balance Sheet Add : Reversal of Income Tax Add : Interest on Fund Investments Add : Dep.51 11835.80 0.22 2701. 2009 As at 31st March. 2009 (Rupees in Lacs) As at 31st March.00 178.1000/.23 17341.00 100000.00 58874.90 800075. TOTAL As at 31st March.00 181.33 0.42 11835.00 0.47 2861. On R&D assets transferred from Captial Reserve As at 31st March.00 2712.80 170265.00 106.52 727.66 63979.00 1014533.00 170265.02 75011.17 3139. 2008 41561.60 4922.51 29491.00 900075.40 66439.75 8946.89 2460.00 910075.99 0 32245.000.fully paid Of the above.00 0.
000.700.2010.00 45.2015 With bullet repayment after 10 years Floating Rate -G-Sec .989. 2011. 2010.900.00 6.00 55.2 (contd.00 17. Each repayable on 14/08/2009.200.10.00 200.Rs.30%) Bonds (31/12/2008) .2010.30% Tax-free with put&call option at par on 31-12-2007.000.00 55.33 27219. 2012 * Sub-Total (I) II REDEEMABLE SECURED BONDS OF Rs.2010&2011 # A XX 6.00 13.000. 2008 178. Rate(+) 100 Bps at the end of each year secured by negative lien of asset of Kaiga-1&2 and RAPP-3&4.00 1.000.000.08. ** Sub-Total (II) GRAND TOTAL (I + II) I 31-03-2015 06-01-2016 20-02-2012 31-12-2012 14-08-2018 14-08-2013 10.000.00 95.3 SECURED LOANS Category Series Class Redemeeable on As at 31st March 2009 As at 31st March 2008 REDEEMABLE SECURED BONDS OF RS. Rate (+) 30Bps.00 6.000.900.2008. 2009 SCHEDULE .400. 2014. 2009 1) Part Redemption of Sr.2014.00 82.32 29276.00 187.00 55.392.000/.00 13. at the end of each year secured by negative lien of asset of TAPP-3&4 TERM LOAN FROM CANARA BANK 28.00 70. 2015.00 104.000.75% Tax-free with Put/call Option on 26/03/2009.2015.00 IV 45.2008.SCHEDULES ANNEXED TO AND FORMING PART OF ACCOUNTS For the year ended March 31.10. 2011.) Less : Transferred to Capital Reserve Less : Payment of Income Tax Less : Transfer to P&L SURPLUS IN PROFIT AND LOSS ACCOUNT TOTAL 759.00 10.2010.00 Lac) Redemption between April 2008 and March.PUT OPTION 3) Part Redemption of Sr.00 3.17 As at 31st March. 2011. 2010.EACH : NON-CUMULATIVE INTEREST SCHEME B XIV 9% Tax-free with put & call option at par on 31-03-2007.000.400. Floating Rate G-Sec.300.500.2013 & 2014 # B XV 8.2012.00 5.700.00 4.00 1346.04.00 7.20 (Rupees in Lacs) SCHEDULE .000.000.000.PUT OPTION III TERM LOAN FROM SBI 28.12 220.15% Taxable .2014 & 2015 # B XVIII 8. 2013.06 98064.94 1.700.25% Tax-free with put & call option at par on 06-01-2008.2009.500.00.2011 With bullet repayment after 05 years.00. 1.00 12.00 3.2016 2017 and 2018* C XXI 5.000.000.10% Taxable ** C XXIII 5. Rate (+) 50Bps at the end of each year secured by negative lien of asset of TAPP-3&4 TERM LOAN FROM CANARA BANK 28.2009.600. 2011.25%) Bonds (23/03/2009) .2011.00 200.03.100.000.2010.2015 With bullet repayment after 10 years Floating Rate -G-Sec Rate (+) 30Bps at the end of each year secured by negative lien of asset of MAPS TERM LOAN FROM SBI and it`s associate banks 26.000.00.00 55.67 1204095.600.000.2009.2013.00 95.00 92.75%) Bonds (26/03/2009) . 2016.50% Infrastructure with put and call option at par on 14.500.2012. XIX A2 (5.00 Lac (Previous year Rs.00 7.2011.00 13.XXIV (4.00 ANNUAL REPORT 2008-09 81 .00 15-03-2014 23-03-2014 26-03-2019 82.2% Tax-free with put & call option at par on 20-02-2007.5500 lac.10.EACH: NON-CUMULATIVE INTEREST SCHEME A XXII 6. 70.200.000.65 1249878.2015 With bullet repayment after 10 years Floating Rate -G-Sec . 2009 (Rupees in Lacs) As at 31st March.2013. XXIII (5.PUT OPTION 2) Part Redemption of Sr.00 Bonds repayble with in one year (Put /Call option) Rs 423.08 748. 2017 & 2018.00 8.2012. 2012 & 2013 ** B XXIV 4.22 79424.000.2010 & 2011 # B XIX 5.25% Taxable Infrastructure with Put/Call Option on 23/03/2009.00.00 9.00 V VI 13.2012.000/.
03. at the end of each year secured by negative lien of asset of Kaiga-3&4 XVI TERM LOAN FROM BANK OF MAHARASHTRA With bullet repayment after 5 years Floating Rate -G-Sec . 2008 700272.000. Rate (+) 125Bps.2011 10.00 20. Rate (+) 125Bps at the end of each year secured by negative lien of asset of TAPP-3&4 IX TERM LOAN FROM Bank of India Wiith bullet repayment after 5 years Floating Rate -G-Sec . Rate (+) 125Bps.300.00 668.00 10.00 25.3 & 4 (Rupees in Lacs) As at 31st March.000. at the end of each year secured by negative lien of asset of Kaiga-3&4 XV TERM LOAN FROM BANK OF MAHARASHTRA With bullet repayment after 5 years Floating Rate -G-Sec .00 31.00 28.00 468.2011 30.00 Note: Bonds of the following series are secured by way of trusteeship agreement coupled with covenants of negative lien and irrevocable power of attorney in favour of trustees to create equitable mortgage over the fixed assets.03. 2009 (Rupees in Lacs) SCHEDULE .) VII TERM LOAN FROM CANARA BANK With bullet repayment after 5 years.000. 2009 14.000.07.00 25. Rate (+) 100Bps.600.08.00 02.000.00 656. Rate (+) 100Bps subject to minimum of 8%at the end of each year secured by negative lien of asset of TAPP-3&4 XII TERM LOAN FROM CANARA BANK Wiith bullet repayment after 5 years Floating Rate -G-Sec .000.2011 25.19 2900.67 2900.00 07.00 468.2013 20.000. at the end of each year secured by negative lien of asset of Kaiga-3&4 XIV TERM LOAN FROM CANARA BANK With bullet repayment after 5 years Floating Rate -G-Sec . Floating Rate G-Sec.11.000.XVI) As at 31st March.00 50.000.000. 2009 SCHEDULE .2012 25.00 20. Rate (+) 125Bps at the end of each year secured by negative lien of asset of Kaiga-3&4 XIII TERM LOAN FROM SBI With bullet repayment after 5 years Floating Rate -G-Sec . Rate (+) 125Bps at the end of each year secured by negative lien of asset of TAPP-3&4 VIII TERM LOAN FROM SBI with bullet repayment after 5 years Floating Rate -G-Sec .000.3 (contd.Floating Rate -G-Sec . at the end of each year secured by negative lien of asset of Kaiga-3&4 Sub-Total (III-XVI) GRAND TOTAL (I .000.600.00 26.00 30.94 745621.00 04.07.000.03. 2008 55.00 42448.08.00 13.2012 20. Series * XX & XXI # XIV.000.000.16 539584. XVIII & XIX ** XXII.00 29.01.08.00 As at 31st March.000.700. Rate(+) 125 Bps at the end of each year secured by negative lien of asset of TAPP-3&4 XI TERM LOAN FROM State Bank of Hyderabad With bullet repayment after 5 years Floating Rate -G-Sec .00 29742.61 506942.00 30.2011 55.000.2011 30.00 25.00 20.4 UNSECURED LOANS Loan from Department of Atomic Energy Government of India (Russian Credit) Interest Free loan KK Project (DAE) Interest Accrued on Russian Credit TOTAL As at 31st March.2013 20. Rate (+) 100Bps. XXIII & XXIV Secured by Rajasthan Atomic Power Station-unit 3 & 4 Kaiga Generating Station-unit 1 & 2 Tarapur Atomic Power Project . Rate (+) 125Bps.000.000.000.2011 50. XV.SCHEDULES ANNEXED TO AND FORMING PART OF ACCOUNTS For the year ended March 31.35 82 NUCLEAR POWER CORPORATION OF INDIA LIMITED . at the end of each year secured by negative lien of asset of TAPS-3&4 X TERM LOAN FROM Bank of Baroda With bullet repayment after 05 years.
69 15684.018.06 67232.67 54.69 12213.00 15329.42 975.43 34.2009 AS AT 01.77 32.99 15196.38 42.98 73.70 17069. 66665.69 11125.03 53. 2009 LAND (Freehold) 58.31 1365.32 1122140.SCHEDULE .00 0.53) 104.25 : Depreciation on R & D Assets 106.04 0.53 469.88 1071828.12 1.21 DEPRECIATION FOR THE DEDUC YEAR TIONS/ ADJUST MENTS AS AT 01.82 9.62 100786.25 1574.70 94186.89 ANNUAL REPORT 2008-09 83 .00 34.65 3800.92 1675855.10 66.00 11185.6A) : Depreciation relating to prior period ( Sch 15 ) (9313.5 GROSS BLOCK ADDI DEDUC TIONS TIONS/ ADJUSTMENTS AS AT 31.19 460643.60 1659501.00 26.15 1.717.03.89 12608.39 508054.29 366.2008 (Rupeesin Lacs) (Rupees in Lacs) NET BLOCK AS AT AS AT 31.00 15329.2009 31.84 1659501.67 38.04.04.05 12.33 571718.83) : Deduction / Adjustments 1246.00 0.08 4242.31 566.54 (2.04 604026.62 81578.00 0.2009 132.88 29282.00 58.40 998.76 60.33 1497.30 0.95) 0.2008 AS AT 31.97 93.55 156333.83 0.00 6627.89 Lakhs is reconciled as under 2008-2009 Depreciation charged to Profit & Loss 70.23 1.93 4091.60 1314.59 0.48 1856.03 0.04 14.52 Add : Depreciation included under Expenses During 4.48 1462.65 86584.05 14202.85 Construction pending allocation ( Sch .33 0.98 1122140.59 77.70 4.27 2546.21 1045374.65 0.08 0.70 957265.57 (19.90 76.18 1.11 338.93 9.05 1528984.03 15196.03.00 0.608.17 FURNITURE.09 78574.063.54 20596.98 0.20 PREVIOUS YEAR TOTAL 1506017.29 537360. FIXTURES AND OFFICE EQUIPMENT VEHICLES ASSETS HELD FOR DISPOSAL TOTAL 10.40 0.95 2849.2008 For the year ended March 31.06 14.46 LAND (Leasehold) BUILDINGS RAILWAY SIDINGS PLANT AND MACHINERY 26809.00 5.68 1521890.47 64133.48 SCHEDULES ANNEXED TO AND FORMING PART OF ACCOUNTS Depreciation for the Year Rs.69 1013835.665.35 537360.03 32.03.03.89 2007-2008 73378.
56 13786.55 2495.08 516.14 1317.43 19955.64 8274.10 841.06 6688.57 201751.81 156531.Township Advertisement Expenses Other Expenses Security Expenses Consultancy Charges Sub-Total (D) Detailed Project Report Expenses (Foreign Exchange Fluctuations) Depreciation As at 31st March.6 CAPITAL WORK-IN-PROGRESS Transferred from Sch. 2009 (Rupees in Lacs) SCHEDULE .32 168334.84 1338.65 3075.95 1317.37 1342.32 166996.46 28.93 5587.89 9968.81 155214. 2009 As at 31st March.02 2028.6 A STATEMENT OF EXPENDITURE DURING CONSTRUCTION PENDING ALLOCATION OPENING BALANCE ADD : ADMINISTRATIVE AND OTHER EXPENSES Fuel Heavy Water Charges Sub-Total (A) Stores and Spares Consumed Repairs and Maintenance a) Building b) Plant and Machinery c) Others Rates and Taxes Insurance Electricity and Water Charges -Plant Site Sub-Total (B) Salaries & Wages Bonus / Incentives Staff Welfare expenses Contribution to Provident and Other Funds Gratuity Allocation of head office expenditure Sub-Total (C) Rent Travelling and Conveyance expenses Printing and Stationery Electricity and Water Charges . unless otherwise stated.93 647.12 1450.74 35.07 822.00 4328.28 33418.12 939.37 Expenditure During Construction Pending Allocation (Schedule 6A) Expenses for Future Projects TOTAL Note : All advances are unsecured and considered good.03 38704.31) 3800.73 14025.61 (1703.85 0.00 46.46 0.47 74.81 155214.93 846.05 3520.93 5804.33 2698.67 9968.02 1735960.14 10.03 6.63 199022.22 201798.14 33418.23 151.42 123.89 77.12 4018.33 0.15 508.28 13521. 2008 732320. *Including Goods in Transit and lying with Contractors 313826.-14 Capital goods and Stores * Less : Provision for Obsolescence/Loss ADVANCES Against material pending acceptance Against Capital Expenditure Considered good .76 7122.31 1958.15 332.SCHEDULES ANNEXED TO AND FORMING PART OF ACCOUNTS For the year ended March 31.74 185.14 As at 31st March.52 1338.00 755.33 2042.54 327.63 38.02 166996.99 216178.70 867. 2008 219927.00 216172.55 (Rupees in Lacs) SCHEDULE .89 370.79 4624.52 219937.57 1384608.86 107.00 9240.31 533.Secured Against Capital Expenditure Considered good Against Capital Expenditure Considered doubtful Less : Provision for doubtful advances As at 31st March.85 9240.34 1242.93 84 NUCLEAR POWER CORPORATION OF INDIA LIMITED .87 8027. 2009 1031802.02 4260.98 9182.99 480.63 5960.84 1726.48 502.13 1530.88 7658.97 3332.48 52.60 624.
00 12500.423.75 4. 7102 Shares of NAPS Co-operative society of Rs.810 160.84 55493.523.00 13.005 2.244.307.76 1.400.40 11. 8.2009 31.03.000 1.Non-Trade (as per details herein below) 7. Power Bonds (as per details herein below) 6.12 245114.53 1528.444.06 48. 4923.163.00 27064.08 6.00 1.09 31.each fully paid. 8.692.64 1. 10264 Shares of KAPS Co-Operative society of Rs.8402 each) (NAV as on 31.SCHEDULES ANNEXED TO AND FORMING PART OF ACCOUNTS For the year ended March 31.5 % tax free Govt.114.72 23. 8.200 452.632 2. 8.each fully paid.00 4.95 254516.7% Taxable HUDCO Bonds . 10. of Uttar Pradesh Special Bonds 8.502.774.2009 Rs.5 % Govt.394.02 13. 300 lacs of Face Value Rs.00 14.759.215 33.70 7.30 219937. UTI Fixed Term Income Fund Series IV .40 17554.940.000 1.45 22.000 1.03 0. 8.605.600 3.596.326.00 0.44 34.03.03.000.5 % tax free Govt.709.212.5 % tax free Govt. of Andhra Pradesh Special Bonds 2.240.522.00 313826. of Maharashtra Special Bonds 10. of Himachal Pradesh Special Bonds 5.16 23.15 338.00 ANNUAL REPORT 2008-09 85 .00 0.2009 Rs.49 0.28 34578. of Jammu & Kashmir Special Bonds 11. of Madhya Pradesh Special Bonds 12.000 Total As at As at 31.10 1. of Haryana Special Bonds 4.00 27064.000 1.each fully paid.680 129.000 1.Growth Plan Aggregate Amount of Unquoted Investments As at 31st March.Plan X (Qty.28 23.07 1159.Annual Interval Series .928 2.6 A (contd.640 2. 10 each) (NAV as on 31.590.05 21.50 2.97 (Rupees in Lacs) Details of Investments Particulars of Bonds Power Bonds 1.000 1.596.I (Qty.746.12 227605.00 0. 7.69 245. 4.5 % tax free Govt.530 2. 2009 4627.240 7.00 273262.5 % tax free Govt. of Gujarat Special Bonds 3.00 915.602.340 119 721.359.03 0.71 56653.) Interest on Borrowed Funds Interest on Foreign Loan Prior period expenses Sub-Total (E) TOTAL EXPENDITURE (A+B+C+D+E) Less : Income Interest (Others) Infirm Power Other Income NET EXPENSES FOR THE YEAR Less : Allocated to Fixed Assets TOTAL As at 31st March.49 0.00 299270.590.30 27.Non-Trade 1.000 1.48 0.30 34578.16 93898. 8.03. 3. of Punjab Special Bonds 7. of Uttaranchal Special Bonds 9.80 2.458.16 0.340 119 1.72 42289.79 30.50 73.292.000 1.Series SD-III 2.5 % tax free Govt. 8.99 313826. 8.71 0.375 424.110 1.00 14.180.50 1.5 % tax free Govt.5 Shares of MAPS Co-operative society of Rs.216.69 14590.959.450 252.40 21.00 1. 8.591.40 78.84 26309.63 As at 31st March.76 lacs) 2.3251. UTI Mutal Fund .5 % tax free Govt.10/.60 1. 8.272 2.00 969.68 1018.000 1.16 1018.Trade unless otherwise specified 1. of Jammu & Kashmir Special Bonds (Tax Refundable) TOTAL Bonds Invested from Earmarked Funds 1.60 3000.000 1.634.02 14590.00 1000.000. 2. of Kerala Special Bonds 6.77 214.80 1.03.03. UTI Fixed Income Interval .7% Taxable HUDCO Bonds .10/. 6.each fully paid.5 % tax free Govt. 2008 1.5 % tax free Govt.240 3. 7.850 7.190.29 37. 2008 3152. 1200 Shares of TAPS Co-operative society of Rs.96 360.850.529 1.Series SD-III TOTAL Quantity Face Value As on As on (In Rs.000 1. 92.53 22805.235. 8. 5.064 170.71 0.25 lacs of Face Value Rs.296 36.10 227.350. 8.2008 676.000 1.5 % tax free Govt.262.7 INVESTMENTS (AT COST) LONG TERM INVESTMENTS (UNQUOTED) .32 29.75% HUDCO Public Deposit scheme under HUDCO Multiplier scheme .10/.808.Non-Trade (Earmarked Fund) CURRENT INVESTMENTS (UNQUOTED) .) 31.62 SCHEDULE .98 (Rupees in Lacs) 42289.080 269. 2009 As at 31st March. Bonds invested from Earmarked funds .000 1.765.00 9. 2009 (Rupees in Lacs) SCHEDULE . of Delhi Long Term Advance 13. 10/. 8.000 1.64 0.450 121.245 2.5 % tax free Govt.1078 lacs) 3.400.076.06 94917.190.Liquid Cash Plan .616 2.
56 40102. As at 31st March.18 2.91 18572.15 1804.01 13312.86 54864.86 446700.19 9661.65 103.91 2.15 37813.47 41423.91 18426.15 566250.43 30.41 515512.44 113.67 470608.41 50655.92 9661. 36589.SCHEDULES ANNEXED TO AND FORMING PART OF ACCOUNTS For the year ended March 31.in current accounts .58 373. Inventories* Store and Spares Less: Provision for obsolescence/Loss 2.10 18434.90 1.17 14388.74 17659.Considered doubtful Less : Provision for doubtful advances 3. 2009 (Rupees in Lacs) SCHEDULE .20 14.53 203. Cash and Bank Balances i) Cash and cheques on hand ii) Remittance in Transit iii) With Scheduled Banks .42 1543.46 690765.74 18772.23 12389.87 439. Government Departments/Public Bodies and State Electricity Boards TOTAL * Inventories includes Goods in transit and lying with contractors. Recoverable from DAE/DAE Undertakings 5.41 35346.In Deposit Accounts Add : Interest accrued 4.42 30. 2009 As at 31st March.90 715283. Other Current Assets i) Interest accrued on Deposits/Advances ii) Interest accrued but not due on loans to staff iii) Others B : LOANS AND ADVANCES 1.45 13310.87 45845.8 CURRENT ASSETS.92 1163.15 10220.90 lacs) 4.49 113.10 7461.88 42940.72 36610.00 5732.39 36107. Advances recoverable in cash or in kind or for Value to be received i) secured.90 13823.92 2.44 19351.24 340. considered good ii) Unsecured .22 502.Considered Doubtful Less : Provision for Doubtful Debts ii) Others (Considered good) 3.14 452433.01 19454.32 44537.01 13310.01 4218.91 9789.78 33658.89) 9868.65 868.Considered good .29 2.01 14.49 2297.66 (8.in Deposit accounts iv) Balances with Scheduled Banks for Earmarked Funds .95 9668.97 107. Loans and Deposits (Unsecured ) i) To Government Companies (Considered good) 2.84 605. 2008 38252.88 55733.86 10963.In Current Accounts .78 10878. Sundry Debtors Secured (Considered good) i) Over six months ii) Others Unsecured i) Over six months .19 9663. LOANS AND ADVANCES A : CURRENT ASSETS 1.09 1.31 62971.30 4382.17 86 NUCLEAR POWER CORPORATION OF INDIA LIMITED .91 9758.52 20877.18 1279.83 345.46 0.86 10948.Considered good . Advance Tax (Net of Provision Rs.
Income from Consultancy Services 8. Pr. Other Liabilities 5.42 1064. Nil) (Previous Year . 2008 85.56 289. Transferred from Research & Development Fund 3. 2009 (Rupees in Lacs) As at 31st March.07 123833. Nil) Less : Transferred to Expenditure During Construction 2.31 166.83 9653. Interest Accrued but not due B. 2. Sundry Creditors Amount due to Micro and Small Enterprises Others 2. Profit on sale of fixed assets 6.00 71490. 6A) Adjust with dues of DAE TOTAL As at 31st March. 2009 SCHEDULE .23 83219.38 399.16 16858.18 12824.10 OTHER INCOME 1.83 104288.72 8688.20 6.76 49876.27 357.21 455.25 86349.06 36.85 32000. Investor Education and Protection Fund shall be credited (to the extent and as and when required) by the following amounts namely :(a) Unclaimed Bonds (b) Unclaimed Interest 4.66 401.25 3983. (Sch.40 32758.92 30909.89 79092. Yr.87 119.9 CURRENT LIABILITIES AND PROVISIONS A.22 15.85 9443.00 3025.21 99. 2009 SCHEDULE . 2008 50652.00 3238. Miscellaneous Income 7.52 550. 1.44 17938.32 115.81 1.03 748.01 23.20 32086. Excess Provision written back 5.23 28.Rs.33 26.SCHEDULES ANNEXED TO AND FORMING PART OF ACCOUNTS For the year ended March 31.88 ANNUAL REPORT 2008-09 87 .92 6493. 3.33 74.58 2025.98 1989. Payable to DAE/DAE Undertakings 3.98 279. Nil) ii) on staff loans iii) on others (TDS .68 446. Delayed payment charges 4.15 93506.57 26. CURRENT LIABILITIES 1. Income from Current Investments Less:Transferred to expenditure during Constr.85 0.24 42.00 2353.02 386. Nil.78 492.67 15.55 (Rupees in Lacs) As at 31st March.00 71490.67 76878.45 20391. Rs.33 0. Interest received i) on deposits with Nationalised Banks (TDS Rs.Rs.05 52.14 2487. 5. Advance Received from Debtors 6.98 0.39 30327.64 76863.68 9743. 4.58 49879.22 26506. PROVISIONS Gratuity Leave Encashment Wealth Tax Proposed Dividend Tax on Proposed Dividend TOTAL As at 31st March.
36 62058.22 10109.01 399.57 2686.99 46485.88 747.27 7150.28 869.46 4770.74 8775.89 1854.00 2038.99 5525.71 3520.25 6840.11 FUEL & HEAVY WATER Fuel Charges (a) Fuel Use Charges (b) Fuel Lease Charges (c) Fuel Recovery Charges Heavy Water charges (a) Heavy Water Lease Charges (b) Heavy Water Make up Charges Less : TOTAL Transferred to Expenditure during Construction (Sch.74 0.28 2324.09 1448.25 41656.02 9696.12 GENERATION EXPENDITURE Stores and Spares consumed Repairs and Maintenance a) Buildings b) Plant & Machinery c) Others Rates and Taxes Insurance Electricity and Water Charges Plant Site Less : Transferred to Expenditure during Construction (Sch.12 108212.53 15675.62 43444.6A) For the year ended 31st March 2009 For the year ended 31st March 2008 53612.16 14915.00 105503.95 3928.17 2414.13 EMPLOYEE'S REMUNERATION & BENEFITS Salaries & Wages Bonus / Incentives Contribution to Provident and other funds Gratuity & Leave Encashment Staff Welfare expenses Less : Transferred to Expenditure during Construction (Sch.45 32637.25 1788.10 8027. 2009 (Rupees in Lacs) SCHEDULE .19 9240.18 26322.87 0.15 4054.SCHEDULES ANNEXED TO AND FORMING PART OF ACCOUNTS For the year ended March 31.77 33418.82 13614. 6A) Adjust with dues of DAE TOTAL For the year ended 31st March 2009 For the year ended 31st March 2008 3313.88 4329.26 7010.38 2493.80 11735.33 48978.6A) Schedule 6 Adjust with dues of DAE TOTAL For the year ended 31st March 2009 For the year ended 31st March 2008 68237.55 1025.00 3909.76 88 NUCLEAR POWER CORPORATION OF INDIA LIMITED .12 53831.24 26830.58 (Rupees in Lacs) SCHEDULE .50 15751.27 39603.14 6593.91 (Rupees in Lacs) SCHEDULE .54 34728.34 7420.60 7422.29 1886.69 62753.62 29294.50 28892.44 1843.70 1499.85 469.04 64259.
21 61.21 300.53 0.91 1755.SCHEDULES ANNEXED TO AND FORMING PART OF ACCOUNTS For the year ended March 31.38 8.37 5553.41) ANNUAL REPORT 2008-09 89 .87 578.10 3.05 15167.36 1989.14 (1. 6) TOTAL 9968.18 0.97 1394.00 1097.32 15450.81 1498.90) (8385.68 1459.98 32.53 1619.71 28788.48 0.00 76.72 52.80 7926.84 33.20 1.60 0.92 3093.00 94.00 28.48 168.66 0.for loss/Obsolete Stocks .18 1342.83 56.25 Less : Transferred to Expenditure during Construction (Sch.93 1138.45 0.22 11434.64 54.34 964.Township Loss on sale of fixed asset Advertisement Expenses Rebates/ Discount Research and Development Expenditure Other Expenses Security Expenses Bad debts / Advances written off PROVISIONS : .06 1.00 0.48 9408.42 1.56 0. 6A Schedule 8 (Due From DAE) TOTAL 1.50 0.64 729.94 11.31) 0.22 327.00 169.01 1423.57 2.17 0. 2009 (Rupees in Lacs) SCHEDULE . 6A) Schedule 8 (Due From DAE) CREDITS Fuel & Heavy Water Repairs & Maintenance Miscellaneous Depreciation Interest For the year ended 31st March 2009 For the year ended 31st March 2008 10.00 408.12 250.for doubtful debts .37 22314.17 12603.05 33749.43 466.99 13621.88 (Rupees in Lacs) SCHEDULE .14 ADMINISTRATION AND OTHER EXPENSES Rent Travelling and Conveyance expenses Printing and Stationery Electricity and Water Charges .45 240.67) (190.00 28618.55 (188.33 (3.18 9812.64 21.35 6826.for doubtful advances For the year ended 31st March 2009 For the year ended 31st March 2008 139.37) 1.53 115.21 0.87 (8389.98 75.00 1567.01 0.54 4.15 748.33 12354.04) Less : Income Transferred to Sch.15 PRIOR PERIOD ADJUSTMENTS DEBITS Stores and Spares Interest Salaries and Wages & Contribution Depreciation Repairs & Maintenance Rebate/Discount on prompt payments Miscellaneous Less : Transferred to Expenditure during Construction (Sch. 6A) Adjust with dues of DAE CWIP (Sch.12 4.24 1488.
1.where ever costs are not ascertainable. 2009 SCHEDULE 16 . 2003 and Atomic Energy Act. All fixed assets acquired/constructed by the Corporation thereafter are capitalized at cost of acquisition/ construction/fabrication/erection or on engineers' estimates where ever the actual cost is not available. O&M stores & spares. on an accrual basis and in accordance with generally accepted accounting principles. Assets added prior to April 1. 1.5 Revenue Recoginition Revenue is recognized on accrual basis and when its collection or receipt is reasonably certain. Stores & spares are valued at cost or engineers estimate (where costs are not ascertainable). 1956 except for Computers and Peripherals including Software. 90 NUCLEAR POWER CORPORATION OF INDIA LIMITED .6 Fixed Assets Fixed assets taken over from the Department of Atomic Energy (DAE). pending renewal of the same. Leasehold land is amortised over the period of lease.4 1. the same is recognized in Accounts at provisional tariff subject to final notification of tariff.2 1.are fully depreciated in the year of acquisition Depreciation on assets added on or after April 1. Till such time they are shown under liabilities. accounting standards . which arise in the current period as a result of 'errors' or 'omissions' in the financial statements prepared in earlier years. The cost of fixed asset comprises its purchase price and any attributable costs of bringing the asset to its working condition for its intended use.5.whichever is higher. Effects of changes in estimates are not treated as omission or error. consumables and loose tools awaiting use. including consumable stores and loose tools. Government of India (GOI). relevant provisions of the Companies Act 1956 . Non moving and slow moving items of inventory are subjected to continuous technical monitoring. 1. Cost of Computers and Peripherals are depreciated on Straight line Method over a period of 5 years to the extent of 95%. 1. including incidentals like freight. 1962 . 5000/. at the rates specified in Schedule XIV of The Companies Act. Inventories Inventory consists of Operations & Maintenance (O&M) stores & spares which includes maintenance supplies.4 Liquidated Damages Liquidated damages recovered from suppliers/contractors are recognized as income at the time of final settlement. 1.3 Sale of scrap is accounted for as & when the sale is completed. 2004 is provided on prorata basis with reference to the date of addition. In case the Power Purchase Agreement with any beneficiaries has expired. to be consumed in the operations & maintenance process.3 Prior Period Items Prior period items are incomes or expenses. rebates are accounted for in accordance with the old Power Purchase Agreement. Spares which can be used only in connection with particular items of fixed assets & whose use is expected to be irregular are considered as capital spares/Insurance Spares and capitalized as Fixed Assets . Depreciation/Amortisation Depreciation on fixed assets is provided on straight line method.SCHEDULES ANNEXED TO AND FORMING PART OF ACCOUNTS For the year ended March 31. Diminution in value of obsolete and unserviceable stores and spares is ascertained on review and provided for. 1.SIGNIFICANT ACCOUNTING POLICIES AND NOTES FORMING PART OF ACCOUNTS 1) 1. 1. are recorded at the cost available from records of DAE or Engineers estimates . octroi etc Issue of stores & spares including inter unit transfer of stock and closing stocks are valued at monthly moving weighted average.1 Sale of Electrical Energy Revenue on sale of electrical energy is recognized net of levies and is on the basis of the net units exported to beneficiaries at tariff notified by DAE.5. on the capitalized cost. Electricity(Supply) Act. 'Costs' include' cost of purchase' and 'cost of conversion'. In cases where tariff is not notified.1 Significant Accounting Policies Basis of Accounting The financial statements are prepared under historical cost convention.5. Assets acquired on lease are depreciated at the respective rate of depreciation applicable to asset or written off over lease period . are charged to revenue at the time of issue. 2004 were depreciated with effect from start of subsequent financial year.5.2 Consultancy Income Income from consultancy services is accounted for on the basis of actual progress/technical assessment of work executed in line with the terms of respective consultancy contracts. Individual Assets costing upto Rs.
land survey and location study etc.(i)DAE/GOI Employees Leave salary. in accordance with the norms prescribed by DAE/GOI. is paid to DAE/GOI. Borrowing costs which are directly attributable to acquisition/construction of a fixed asset. payments made are treated as revenue expenditure and charged to the Profit & loss account. Interest earned on respective fund investments and income tax paid are also adjusted in the said funds. All common costs are allocated on a rational basis. pension contribution and Provident Fund contributions in respect of employees on deputation from DAE/GOI are paid to DAE/GOI in accordance with the norms prescribed by DAE/GOI .as the case may be. which ever is lower'. Exchange differences are recognized in the period in which they arise. modernization & upgradation is considered as 'CWIP' and capitalized on its completion.9 91 . discounts/ premiums. Assets acquired on lease: Lease premium paid and other costs incurred for acquiring lease rights of assets. Major Renovation. Non-monetary items denominated in foreign currency are reported at the exchange rate ruling on the date of transaction. Leaves encashed during the year are charged to Profit & Loss Account. Wherever Ownership is not available. modernization and Up gradation of Units at Stations needing long shut down resulting in increased efficiency of the unit are considered as projects. such assets are capitalized In case of receipt of Contribution : at cost. EDC is allocated on prorata basis to the assets capitalized on commencement of commercial operation. Such expenditure includes cost of preparing project report. Actuarial gains/losses are recognized in the profit and loss account.SCHEDULES ANNEXED TO AND FORMING PART OF ACCOUNTS For the year ended March 31. Other borrowing costs are considered as an expenditure in the period in which these are incurred and are charged to Profit & Loss account or EDC . commitment charges. as applicable from time to time. brokerage. Provision for ex-gratia is made as per orders of Govt. 1. is treated as cost of the lease hold asset. Liability on account of gratuity and long term earned leave are defined benefit obligations and are determined on the basis of actuarial valuation made at the end of each financial year and provided for in the books of accounts.11 Employee Benefits 1.(ii)Corporation Employees Contribution to Provident Fund is defined contribution scheme and contributions are charged to Profit & Loss Account of the year when the contribution to the fund are due. 1. exchange difference to the extent they are regarded as interest costs and all ancillary /incidental costs incurred in connection with the arrangement of borrowing.11. 2009 Item(s) retired from active use and held for disposal. underwriting costs. For Joint Ownership : Wherever ownership is available. All direct expenditure during such major renovation. At Balance Sheet date. Pension contribution in respect of employees who have opted for combined pension. foreign exchange monetary items are reported using the closing rate. Current Investments are stated at lower of cost and market/fair value. 1. 1. CWIP also includes all direct incidental expenditure during construction (EDC).11. of India. financing charges.8 Reserves and Surplus: Levy collected from beneficiary for decommissioning of power plants is credited to decommissioning fund account. ANNUAL REPORT 2008-09 1. are capitalized as a part of cost pertaining to that asset. is stated at its 'net book value or net realizable value.7 Capital Work-in-Progress Capital work in progress (CWIP) includes all expenditure for acquisition and construction of assets. Incentives are provided as per the schemes adopted by the Corporation.Amounts appropriated from Research & Development Fund (R&D fund) and Renovation & Modernisation Fund (R&M fund) towards capital expenditure is transferred from these funds to Capital Reserve and attributable amounts towards depreciation & revenue expenditure is transferred from R&D fund to Profit & Loss Account.12 Borrowing Costs Borrowing cost includes interest. Foreign Exchange Transactions Foreign currency transactions are initially recorded at rates of exchange ruling at the date of transaction. conducting feasibility study.10 Investments Long term Investments are stated at cost after deducting provision. 1. if any made for permanent diminution in the values. net of contribution from other parties In case of payment of Contribution : at Contribution so paid to other parties. 1.
in lacs) 13433.21. 2009 1.94 Ii) 352.66 Iii) 923.268430.23 In the opinion of management.2 Notes forming part of Accounts Estimated amount of Contracts remaining to be executed on capital Account (net of advances) Rs. Unidentifiable expenses are charged to Profit & Loss account. Contingent Liabilities under various fiscal laws include those in respect of which the Corporation/ Department is in appeal.15 Provisions . Revenue expenditure on research & development (R&D) is charged to profit & loss account in the year the expenditure is incurred.46 3583.1 2. 92 NUCLEAR POWER CORPORATION OF INDIA LIMITED .20 lacs. It is accounted for by applying the tax rates and the tax laws that have been enacted or substantively enacted as on the balance sheet date. is treated as intangible asset and is depreciated on straight line method over a period of five years or its licence period. if eventually arise on the corporation. Deferred tax assets in case of unabsorbed losses and unabsorbed depreciation are recognized only if there is virtual certainty that such deferred tax asset can be realized against future taxable profits. 1. 1961 The deferred tax is recognized on timing differences between the book profit and taxable profit for the year. in lacs) 12998. Previous year Rs.48 lacs) Contingent Liabilities not provided for S r.13 Taxation Tax expense comprises of current. Previous year Rs. 1. 2) 2.98 21923. Deferred tax assets arising from timing differences are recognized to the extent there is reasonable certainty that the assets can be realized in future.14 Intangible Assets Software which is not an integral part of related hardware.SCHEDULES ANNEXED TO AND FORMING PART OF ACCOUNTS For the year ended March 31.36 558. Expenditure incurred for rendering services for project related activities are allocated to the Projects.21923.57 lacs (Previous year Rs.03 lacs. 1.16 Allocation of Head Office Expenditure Identifiable expenses of Head Office are directly transferred to the respective locations. the aforesaid contingent liabilities relating to income-tax demands. 1961. The amount of Head Office expenditure allocated to projects are distributed to various projects in the ratio of annual capital outlay. nor disclosed.84 Iv) 18285.79 2007-08 (Rs. Provisions and Contingent liabilities are reviewed at each Balance sheet date and adjusted to reflect the current management estimate.23 lacs) 2008-09 (Rs. Expenditure on acquisition of fixed assets for R&D is included in fixed assets and depreciation thereon is provided as applicable. I) Particulars Claims against the Corporation not acknowledged as debts Sales tax/ Entry Tax Demands contested in Appeals (Amount paid under protest Rs. deferred and fringe benefit tax and are charged to the profit and loss account of the year. No. Contingent Assets and Contingent Liabilities Contingent Liabilities in respect of show cause notices received are considered only when they are converted into demands.259. and expenditure incurred for rendering services for station related activities are allocated to the Stations. Provision for current tax is made on the basis of estimated taxable income for the current accounting year in accordance with the Income Tax Act.03 lacs. Provided for in the books of account Nil Previous year Rs. Contingent Assets are neither recognized. The Head Office expenditure to be allocated to stations are distributed to various stations in the ratio of annual net sale of electrical energy. would be claimed from the beneficiaries.235043. 18134.259.69 lacs) Unexpired value of Letters of Credits/ Bank Guarantees given on behalf of corporation Income-tax demands contested in appeals net of provisions (Amount paid under protest Rs. Fringe Benefit Tax is provided in accordance with the provisions of the Income Tax Act. whichever is less.
Contingent liability on account of water cess in respect of Rajasthan Atomic Power Station (RAPS 2) for the period from 01.5.5. In view of pending court cases.39 lacs.1984 to 12. 419. 2.58 hectares of Forest and Revenue Department land acquired on the condition that its legal status would remain unchanged.iiiLand at Rawatbhata Rajasthan Site (RRS) includes : a) 267.i Capital Work-in-Progress (CWIP) Pursuant to withdrawal of Guidance Note on accounting of Incidental Expenditure during Construction Period by the Institute of Chartered Accountants of India. in view of technical reasons and provided for.3.4. 2.1 Gross Block of Fixed Assets and related Accumulated Depreciation include: Value of assets taken over from DAE are accounted at their original cost and related accumulated depreciation based on its classification.i Lease premium in respect of premises taken on long lease at various places. In the absence of data for consumption of water for the said period the amount of liability is not ascertainable.iii CWIP at Kudankulam includes loss on Foreign Exchange Rate fluctuation amounting to Rs 124702. with an understanding that exchange fluctuation on repayment of the credit by GOI shall be on account of the Corporation.4.4.40 hectares of forest land taken on notional rent of Re1 per annum.4.4. and does not include: a) 393.98 lacs) disputed by TMS before the Cess Appellate Committee of MPCB.3iii Buildings Constructed on Land belonging to DAE as per respective arrangements/ undertakings. repayable after moratorium period and utilised by the Corporation for payments to Russian exporters in terms of various contracts entered into with M/ s Atomstroyexport to set up two units of 1000 Mwe each at Kudankulam. as per the respective arrangements/ understandings.03. The management affirms correct identification of Shortage/ obsolescence of stores.078.2003 has been contested and is pending with Rajasthan High Court.i Land includes cost incurred on its development. 2.4. 2009 Amount payable to Project Affected People on rehabilitation at Tarapur Maharastra Site (TMS) has been paid and provided in respect of demands received till date. 2. In the opinion of the management. Balances in Advances are predominantly supply/ stage payments made to Suppliers/ fabricators against dispatch documents or against materials received by sites/ units and under inspection or delivered to fabricators for further processing. 2.48 lacs).4. 2. 2.5. 2. spares and capital inventories which are non-moving/ slow moving. the future liability is unascertainable. b) 983.98 lacs (Previous year Rs. Claims under point (i) above includes notice received from Maharashtra Pollution Control Board (MPCB) by TMS for payment of Cess under Water Cess Act.2.65 lacs).11 lacs (Previous year Rs3160.3 Unsecured Loans DAE loan (Russian credit) represents funds provided by DAE to deposit with Controller of Aid Accounts & Audit (CAA&A) for repayment of credit extended by Government of Russian Federation to Government of India. it is of the opinion that slow moving and non moving inventory lying with the Corporation as at the year-end are serviceable and in good condition.66 lacs (Previous year Rs39817.SCHEDULES ANNEXED TO AND FORMING PART OF ACCOUNTS For the year ended March 31. as per court orders. 1977 amounting to Rs2. ANNUAL REPORT 2008-09 93 .3 Buildings include 2.ii Title deed of land owned by TMS remains in name of erstwhile Tarapur Atomic Power Project. 2. if any is accordingly made.21 hectares of Revenue Department & Private land acquired for which title (Jamabandi) is available. stagnancy in respect of such advances is periodically reviewed and provisions required.5 2.5.4. Inventory is net of Rs. 2.2078. 2.3.47 lacs (Previous Year: gain of Rs 35505.4.6 Inventories As per Technical appraisal made by the management.ii Proportionate cost in respect of buildings constructed on the land belonging to DAE & others.iv Other Expenses in EDC at Kudankulam includes gain due to Foreign Exchange Rate Fluctuation amounting to Rs 4. Had this change not taken place profit would have been lower by Rs.2 Land 2. the Corporation has changed its Accounting Policy of allocating incidental expenditure during construction/ long shut down period.2.03 lacs (Previous Year loss of Rs1.ii CWIP of Contracts & Materials Management division (C&MM) includes (i) materials lying with fabricators amounting to 2232. which are in the process of adjustment/ reconciliation.99 lacs) and (ii) advances amounting to Rs26850.4 Fixed Assets 2. Jaipur.2. 1519 lacs held on behalf of DAE in respect of RAPS-1 as a custodian. 2. 2.04.91 lacs).
-3/10(17)/87-PP dated December 22.77 lacs (Previous Year Rs.00% 8.487. 2.886 (33.11.d Consequent upon issue of demand note by Pollution Control Board during the year in respect of RAPS 3&4 w.119) 650.11.44 lacs prior to 2003 was withdrawn from the provisions. is pending approval in High Court and is subject to confirmation.11. on behalf of DAE and the levy is credited to Decommissioning Fund account.e.515 149.9 2.f. 2009 31st March.00% 4.50% 7.609) - 40.282) 854.77 lacs has been provided in the Books of Accounts up to 31.530609 33.128.685 (28.00% 0.c.757.828.46 lacs has been booked in the Books of Accounts.096. During the year Decommissioning Fund levy aggregating to Rs.c.00% 4. 2009 31st March.Balance shown under accounts recoverable/payable from/to DAE and Government Bodies are subject to confirmation and consequent adjustments.671) - 28. 2.622 (28. as required by the said notifications. Investments include Bonds received from various beneficiaries in the form of RBI securitised 8.536. 2.219.678. Interest earned on the said fund investments & income tax paid are also adjusted in the said fund. 2008 Leave Encashment As on 31st March.855.609) (80. 2. 2009 2.828.5% tax free and taxable bonds/ long term advance against Debtors outstanding on Sale of Power upto September 2001.855.21 lacs) recoverable from Bhartiya Nabhikiya Vidyut Nigam Limited (BHAVINI).957. 2.15 years 17. 1988.566 II III Changes in fair value of plan assets Fair Value of Plan Assets at beginning of period Expected Return on Plan Assets Contributions Benefits paid Actuarial gain/(loss) on plan assets Fair Value of Plan Assets at end of Period 54. a company under the same management. 579.547.80% 18.03.530.48 years 18.530.089 Rs.03.Deposit with Government Departments/ Public Bodies and State Electricity Boards lying at Head Office includes Rs24 lacs paid for construction of 100 flats against arbitration award. if any. hence being fully recoverable. DAE/OM/No.083.10 2.684.1327.423. 2008 I Assumptions Mortality Discount Rate Rate of increase in compensation Rate of return (expected) on plan assets Withdrawal rates Expected average remaining service Changes in present value of obligations PVO at beginning of period Interest cost Current Service Cost Benefits paid Actuarial (gain)/loss on obligation PVO at end of period LIC(1994-96)Ult LIC(1994-96)Ult LIC(1994-96)Ult LIC(1994-96)Ult 7. no provision is required to be made.80% 0. 2.97 lacs (Previous year Rs.115.12 Disclosure in relation to Gratuity and Earned leave (AS -15): Gratuity As on 31st March.957.430 111. Sales and Expenditure During Construction include Internal Consumption of Power for Projects amounting to Rs.219.7733 lacs) recoverable from Delhi Electric Supply Undertaking (DESU) which is more than 3 years old.119) - 33.740.350.974 959.1066.11.685) - 94 NUCLEAR POWER CORPORATION OF INDIA LIMITED .39 lacs) which is considered at cost of generation.11.80% 0.219.2009 in respect of RAPS-2 whereas the liability of Rs.538 42.48 years Rs. These dues have been confirmed by the Ministry of Power.423.00% 6.30.048.124 Rs.7 Vide Notification no.099) 643. 643.089 62.2556. 62. 831. at tariffs notified by DAE.11. the Corporation is collecting levy from beneficiaries for Decommissioning of power plants. As the revised notification was applicable for all the industries from the year 2003 a liability of Rs.38 lacs (Previous Year Rs801. 13.Debtors includes Rs.568.00% 6. in accordance with the recommendations of Ahluwalia Committee.a Debtors at NAPS include Rs7733 lacs (previous year Rs.03 years 17.661.671 (40.119 (54.825 (40.2861.ii.684.619 1.685) (24.212.190 75.566 46.SCHEDULES ANNEXED TO AND FORMING PART OF ACCOUNTS For the year ended March 31.b Debtors at head office include Rs.i. 854.402 (54.50% 8.828. 2.506 Rs.02 lacs) has been collected on the basis of net units exported to the beneficiaries & others.381 75.80% 0.383.c.2003 an expenditure of Rs.8 2.3941.iii.074.957.30 lacs billed for Income Tax and Fringe Benefit Tax not acknowledged as due by the beneficiaries.671) 198.713 61.
684.740.124) 31st March.212.506 Fair Value of Plan Assets at end of period Funded Status (1.619) (650.566 356.282) 56.124 579.713 854.855.609) (854.SCHEDULES ANNEXED TO AND FORMING PART OF ACCOUNTS For the year ended March 31.28 lacs (upto previous year Rs.43 lacs (Previous year Rs.685) 643.099) 93.678.124 (959.089) 959.661.974) (198.212.809.282 80. Closing actuarial liability in respect of such employees works out to Rs.809. 144. hence Segment Reporting as required under Accounting Standard (AS)-17 is not applicable.536.099 - VI Amounts to be recognized in the balance sheet and Statement of profit & loss account PVO at end of period 1. 33.089) - Leave Encashment As on 31st March.619) (650.855506) Unrecognized Actuarial Gain/(Loss) Net Asset/(Liability) recognized in the balance (1.855.423.423.048. 104.487.506 831.16 lacs (Previous year Rs.530.536 (54.671 (40.074.566) 149.119 (54.074.685) (643.402 62.383.661. 2009 Gratuity As on 31st March.684.089 (854.671) 959.828.609) 854.190 (24.423.678.381 (80.661.671) (959.089) (854.855.115.350.219. ANNUAL REPORT 2008-09 95 .619 8126.96.36.1999. 151.678.536 75.115.506) 31st March.083.212. 2009 Rs.538 93.229 75.974 356.56.089 643. 2008 Rs.240.974) - 24. 54.855.661.429.429.212.569.124) (959. 40.096.855506) sheet VII Expense recognized in the statement of P&L A/C Current Service Cost Interest Cost Expected Return on Plan Assets Net Actuarial (Gain)/Loss recognized for the period Expense recognized in the statement of P&L A/C VIII Movements in the liability recognized in Balance Sheet Opening Net Liability # Expenses as above Benefits paid Closing Net Liability # 854.536.96 lacs (upto previous year Rs.536.661.515 650.96 lacs) towards gratuity and leave encashment respectively in respect of NPCIL employees on deputation.423.886 61.566) (643. 2009 Rs.423.828.119) (1.609 (33. 28.45 lacs) for Gratuity and Leave encashment respectively accounted for in books.282 - (198.985 (33.282 80.566 (643.974) (198.430 198.089 861.678.074.684.219. 70.115.536.757.099 24.684.651.229 (40.713 (28.985 111.124) 643.684.957.566) - IV Fair Value of Plan Assets Fair Value of Plan Assets at beginning of period Actual Return on Plan Asset Contributions Benefit paid Fair Value of Plan Assets at end of Period Funded Status Excess of actual over estimated return on Plan Assets V Actuarial Gain/(Loss) Recognized Actuarial Gain/(Loss) for the period (Obligation) Actuarial Gain/(Loss) for the period (Plan Assets) Total Gain/(Loss) for the period Actuarial Gain/(Loss) recognized for the period Unrecognized Actuarial Gain/(Loss) at end of period (650. 264.828.547.619) - 80. 2.423. 2008 Rs. 57.957.099 24.622 42.685 (28. which operates in one geographical segment.825 46.73 lacs) and Rs.530.566 # Besides above the Corporation has also recognized expense (net) of Rs.119) 1.713 56.957.13 The operation of the corporation of generation of electricity is considered as a single segment.530.69 lacs) and Rs.684.651.536.074.
Shreyans Kumar Jain Shri S.) 1000 1000 Earning Per Share (Rs) 2008-09 2007-08 2.14 Related Parties Disclosure (AS 18) a) i) ii) iii) iv) Related Parties Dr.92 6493.72 1.2009 Deferred Tax Liability i) Difference of book depreciation and tax depreciation Provisions & other disallowances Deferred Tax Liability 186873.2.75 608. 2. Technical Director.93 4343.52 550.43 49.81 Provision made during the year 3291.48) 178665. 7.89 lacs and the same is recoverable from the beneficiaries on becoming part of Current tax.44 8688.67 lacs (Previous year Rs.34.40 107849.83 9653.00 2353.43 26. Operations Key Management Personnel b) Transactions with the related parties as per books of accounts Remuneration to Key Management Personnel is Rs. 4.36 608.70 Provision utilised during 41359. 3. there is no indication to the contrary and accordingly the management is of the view that no impairment provision is called for in these accounts Disclosure of provision as required under AS-29 Provisions Contingent Liabilities and Contingent Assets: (Rupees in Lacs) 2.17 31. 8399.30 The item wise details of deferred tax liability (net) are as under: (Rupees in Lacs) 188.8.131.528 175800.61. Bhardwaj Shri J.66 401.72 24.2.20 Iii) (8207.16 43.19 Provision reversed the year of the year - Provision outstanding at the end 34342. the Corporation assessed potential generation of economic benefits from its business units and is of the view that assets employed in continuing businesses are capable of generating adequate returns over their useful lives in the usual course of business.39 9244.SCHEDULES ANNEXED TO AND FORMING PART OF ACCOUNTS For the year ended March 31. 2.33 1. Finance Director.K.A.50 106. Nageswara Rao Chairman & Managing Director Director.62 Denominator Weighted Average number of equity shares outstanding 101453327 101453327 Nominal Value of shares (Rs.39 16858. 5. 96 NUCLEAR POWER CORPORATION OF INDIA LIMITED .16 lacs) and amount of dues outstanding to the Corporation as on 31st March.73 1638. 2009 is Rs.69 (5534.18 Sl No Nature of provision & expected time of outflow of the year Income Tax Fringe Benefit Tax Wealth Tax Proposed Dividend Tax on Proposed Dividend Gratuity Leave Encashment Provision outstanding at the beginning the year 72411.17 As stipulated in AS-28 Impairment of Assets.15 Disclosure in respect of Accounting Standard 20: Earnings per Share Earnings per share (EPS)Basic and Diluted (after tax) is calculated as under: Year Numerator Net Profit as per Profit and Loss Account (Amount in lacs) 44128.44 1075.80 The net increase in deferred tax liability is Rs.66 401.05 3238.02 1184. 2009 2.52 550.05 2353.00 3238. Ghai Shri G. 6.35 lacs) 2.40) 170265.12 1638.20 lacs (Previous year Rs.
14 25. 2006. Details of Dues to Micro enterprises and Small enterprises * 31st March. membership fee. 6318. 1961.70 2007-08 7924. In Lacs 13.2006 to 31.23 2.83 ANNUAL REPORT 2008-09 97 .3. In Lacs 1) The principal amount and the interest due thereon (to be shown separately) remaining unpaid to any supplier as at the end of the accounting year (No amount is due for more than 45 days). Renovation & Modernisation and Research & Development Fund and also on interest earned on respective fund investments is appropriated from the respective Fund.21 Pursuant to implementation of recommendations of Sixth Pay commission by the Corporation during the year effective from 01/01/2006.32 2117.1459. 21988.63 2007-08 7. etc) 17155.28 592.92 lacs) is net of provisions made for Income tax Rs.20 Foreign Currency exposures not hedged as on 31st March.19 2.22687.25 2. the lease charges so paid are considered as recoverable.22687.2008 accounted for during the current year.41 lacs recovered from DAE for the same period. Until such date when the interest dues as above are actually paid to the small enterprise for the purpose of Disallowance as a deductible expenditure under Section 23 of the Micro Small and Medium Enterprise Development Act.SCHEDULES ANNEXED TO AND FORMING PART OF ACCOUNTS For the year ended March 31.14 lacs allocated to capital works & Rs. Advance Income tax of Rs.1.13 lacs) towards the additional liability of Pay arrears for the Period from 1. 2) The amount of interest paid by the buyer in terms of Section 16 of the Micro Small and Medium Enterprise Development Act.04 lacs).24 2.17 lacs (previous year Rs10220.22 2.27 Receipts in foreign currency (Rupees in Lacs) 2008-09 i) Guest House Receipt (at KK Project) 8. periodicals. Accordingly.84 lacs). The said amount of Rs. 36589.alongwith the amounts of the payment made to the supplier beyond appointed day during the accounting year 3) The amount of interest due and payable for the period of delay in making payment (which have been paid but beyond the appointed day during the year) but without adding the interest specified under Micro Small and Medium Enterprise Development Act. This additional liability for the earlier period accounted for during the year has the impact of reducing the current year's profit by Rs. 2006 4) The amount of interest accrued and remaining unpaid at the end of the accounting year 5) The amount of further interest remaining due and payable even in the succeeding years. 31st March. However the Corporation has disputed such demand before the appropriate Appellate Authority under Income Tax Act. 2009: $ 11900.22687. pay arrears have been accounted for during the current year. 2009 2.18 lacs_respectively (aggregating to Rs.74050. 698.95 lacs and Rs. In the opinion of the Management.55 Nil Nil Nil Nil Nil Nil Nil Nil 2. Employees Remuneration & Benefits and Security Expenses includes Rs. 2006 * To the extent information available with the corporation.26 2008-09 i) Project related payments including Kudankulam (KK) Project (Net of Tax) ii) Other matters (Traveling. subscription to books. loans and advances in the ordinary course of business will not be less than the amount at which these are stated and provision for all known liabilities is adequate and not in excess than reasonably necessary (Rupees in Lacs) Expenditure in foreign currency (on Payment Basis) 2. Heavy Water Lease Charges paid for EMCCR (Long Shut Down) period of the Projects shall be made part of the capital cost incurred for EMCCR for the purpose of fixation of revised tariff. 2009 Rs.13 lacs.13 lacs is net off Rs. the value on realisation of current assets.90 lacs (previous year Rs.30 2. Income tax demanded by Income Tax Department on levies collected from beneficiaries for Decommissioning.76 lacs (Previous Year $ 11085. 2008 Rs.20877.
has not been disclosed as per DAE Order No.833.00 22.81 (Rupees in Lacs) 2008-09 1) Audit Fees: To Statutory Auditors To Branch Auditors ii) Tax Audit Fees To Statutory Auditors To Branch Auditors iii) As expenses: Paid to Statutory Auditors Paid to Branch Auditors iv) Certification Fees: Paid to Statutory Auditors & Branch Auditors 2. in the opinion of the management.10 (Rupees in Lacs) 2008-09 2.02 12.57 1.ii Quantitative information in respect of Generation and Sales of Electricity Electricity Generation (In Millions KWh) (Includes Pre-commercial) Sales (In Millions KWh) (Includes Pre-commercial) Rupees in lacs 2008-09 2007-08 2008-09 2007-08 2008-09 2007-08 Nuclear Energy 14.21 4.38 4.920.44 3.74 656.695.50 8.32 2.30.33 The break up between (i) Components and spare parts and (ii) Capital goods.20 2. 1989 98 NUCLEAR POWER CORPORATION OF INDIA LIMITED .i Licensed and Installed Capacities Nuclear Energy a) Licensed capacity b) Installed capacity (Commercial units) Not applicable 4020 Mwe (Previous year 4020 Mwe) 7.76 2.717.84 3.SCHEDULES ANNEXED TO AND FORMING PART OF ACCOUNTS For the year ended March 31.22 2007-08 7.29 Remuneration to Auditors(Rs in lacs) 2007-08 30.64 0.20 3. being confidential in nature.17 2.50 8.18 Wind Energy Not applicable 10 Mwe (Previous year 10 Mwe) (Rupees in Lacs) 2.69 2007-08 194238.94 Wind Energy 184.108.40.2064.62 22.604. has not been disclosed The information regarding value of imported spare parts and components consumed and value of all indigenous spare parts and components consumed and percentage of each to the total consumption being confidential in nature.25 57.31 Value of imports calculated on CIF basis 89381.05 665.28 Managerial Remuneration Paid/ Payable to Managing Director & Whole Time Directors (Rupees in Lacs) 2008-09 i) Salaries.59 4.96 14. 2009 2.23 4. AEA/18/i/89-ER/3345 dated November 22. Bonus and allowances ii) Contribution to Provident Fund/Pension 2.67 16.44 1.91 3.74 22.90 6.32.
35 2. Figures of previous year have been regrouped and rearranged wherever considered necessary to make them comparable with the current year's figures. JHANWAR) Partner (Membership No: 14080) Place: Mumbai.SCHEDULES ANNEXED TO AND FORMING PART OF ACCOUNTS For the year ended March 31.37 Advances includes Rs. The amount in the Balance Sheet and Profit and Loss Account are rounded off to the nearest thousand and indicated in lacs of rupees Schedules 1 to 16 to the Balance Sheet and Profit and Loss Account form an integral part of these Accounts In terms of our report of even date attached For KALANI & COMPANY Chartered Accountants For and on behalf of Board of Directors Nuclear Power Corporation of India Ltd.2.2.36 2. L. (K.24 lacs (Previous Year: Rs.5. PAI) Company Secretary (JAGDEEP GHAI) Director (Finance) ( S.35 lacs) due from Directors and Officers with a maximum balance during the year of Rs. 2009 (SRIKAR R.34 2.5. K. JAIN) Chairman & Managing Director ANNUAL REPORT 2008-09 99 .97 lacs). 2009 2.90 lacs (Previous Year: Rs. Dated: May 8.
BALANCE SHEET ABSTRACT AND COMPANY'S GENERAL BUSINESS PROFILE NUCLEAR POWER CORPORATION OF INDIA LIMITED STATEMENT PURSUANT OF PART IV OF SCHEDULE VI TO THE COMPANIES ACT.** V. Thousands) Total Liabilities Sources of Funds Paid up Capital * Secured Loans Application of Funds Net Fixed Assets (including Capital Work in Progress) Net Current Assets Accumulated Losses 5 8 5 2 8 1 5 1 N I L Misc. Expenditure 0 0 2 8 0 7 7 8 8 8 9 Investments 2 7 3 2 6 2 6 4 1 0 1 4 5 3 3 2 7 6 5 6 3 0 0 0 0 Reserves and Surplus 1 2 4 9 8 7 8 1 7 Unsecured Loans 7 4 5 6 2 1 6 1 3 6 6 6 3 3 3 0 5 Total Assets 3 6 6 6 3 3 3 0 5 IV. L 4 0 1 0 4 M H 1 9 8 7 G O I 1 4 9 4 5 8 1 1 Balance Sheet Date 3 1 0 3 2 0 0 9 Capital Raised During the Year Public Issue Bonus Issue N I L N I L Rights Issue Private Placement Equity Preference Issued to Government N I L N I L N I L N I L III. Position of Mobilisation and Deployment of Funds (Amount in Rs.K. ** On Pro-rata basis Generic Principal Services of the Company(as per monetary terms) Item Code No. Performance of the Company (Amount in Rs. Product Description N I L G E N E R A T I O N O F P O W E R For and on behalf of Board of Directors Nuclear Power Corporation of India Limited (SRIKAR R. Registration Details Registration No State Code II. 5 0 Total Expenditure Profit/Loss After Tax Dividend %** 3 4 0 4 5 6 2 4 + 1 . Thousands) Turnover (Gross Revenue) Profit/Loss Before Tax + 3 8 0 1 4 8 0 7 4 8 0 7 7 2 4 4 3 . 3 0 4 4 1 2 8 4 0 Earning per Share in Rs. JAIN) Chairman & Managing Director 100 NUCLEAR POWER CORPORATION OF INDIA LIMITED . PAI) Company Secretary (JAGDEEP GHAI) Director (Finance) (S. 1956 I.
CASH FLOW STATEMENT
For the period ended on 31, March 2009
(Rupees in Lacs) PARTICULARS A) CASH FLOW FROM OPERATING ACTIVITIES:Net Profit before tax and extraordinary items Adjustments for : Add: (a) Depreciation (b) Prov. For Obsolete stock (c) Prov. For doubtful debts (d) Prov. For doubtful advances (e) Prov. For Gratuity (f) Prov. For Leave encashment (g) Loss on sale of fixed assets (h) Write off of adv. debited to misc exp (j) Provision for Taxation (i) Prior Period depreciation (l) Total Tax Reibursement Less: (a) Prov. No longer required (b) Profit on sale of fixed assets (c) Transfer from R & D Operating Profit before Working Capital Changes Adjustments for : Decrease/(Increase) in Debtors Decrease /(Increase) in Inventories Decrease/(Increase) in Other Current Assets Decrease/(Increase) in Loans & Advances Increase/(Decrease) in Current liabilities CASH GENERATED FROM OPERATION Add: Tax Reimbursement by SEBs Less : Taxes Paid NET CASH FROM OPERATING ACTIVITIES B) CASH FLOW FROM INVESTING ACTIVITIES Purchase of Fixed Assets Sale of Fixed Assets Investments(Net) Interest on Earmarked Funds Taxes paid on earnmarked funds Levies Capital Work in Progress & Advances Heavy Water Lease charges Recoverable NET CASH (USED IN) / FROM INVESTING ACTIVITIES CASH FLOW FROM FINANCING ACTIVITIES Proceeds from issue of Equity share capital Loan from banks and Russian credit (Sch 3 & 4) Repayment of bonds Interim Dividend for current year (including tax thereon) Final Dividend Paid for previous year (inc luding tax thereon) NET CASH (USED IN) / FROM FINANCING ACTIVITIES Net (Decrease)/Increase in cash and cash equivalents (A+B+C) Cash & Cash equivalents as at the commencement Of the year Cash & Cash equivalents as at the close Of the year (20,595.99) 5,553.00 17,508.33 8,374.40 (1,732.70) 2,556.97 (347,352.82) (8,450.89) (344,139.70) 2008-09 48,077.24 70,608.52 (22.67) 0.83 (4.46) 8,169.91 3,159.52 54.46 0.53 (9,313.83) 399.87 119.26 1,989.32 73,378.65 (664.87) (17.14) (186.30) 388.49 727.13 75.43 1,497.54 3,025.24 42.14 2007-08 120,501.36
72,652.81 120,730.05 2,508.45 118,221.60
75,198.93 195,700.29 3,067.38 192,632.91
(7,716.56) (1,642.66) 5,742.97 (10,936.20) 16,339.26
5,735.65 123,957.25 123,957.25 5,531.25 118,426.00
15,607.35 (681.85) (8,888.09) 31,345.45 (15,329.78)
22,053.08 214,685.99 214,685.99 10,981.54 203,704.45
(156,324.27) 1,770.46 6,827.15 8,834.08 (5,808.16) 2,861.02 (2,802.17) (9,898.01) (154,539.90)
193,330.48 (12,400.00) (11,699.50) (2,755.10) 166,475.88 (59,237.82) 578,750.47 519,512.65
48,742.08 (16,509.40) (35,098.50) (20,033.47) (22,899.29) 26,265.26 552,485.21 578,750.47
Cash & cash equivalents consists of cash & cheques on hands, balances with banks including for earmarked funds and Short Term Investment. Previous year figures have been regrouped/rearranged wherever found necessary.
In terms of our Audit report of even date attached FOR KALANI & COMPANY Chartered Accountants (K.L. JHANWAR) Partner (Membership No. 14080) Place : Mumbai Date : May 8, 2009 (SRIKAR R. PAI) Company Secretary
For and on behalf of Bord of Directors NUCLEAR POWER CORPORATION OF INDIA LIMITED (JAGDEEP GHAI) Director (Finance) ( S. K. JAIN) Chairman and Managing Director
ANNUAL REPORT 2008-09
NUCLEAR POWER CORPORATION OF INDIA LIMITED
ANNUAL REPORT 2008-09
Delivering a NOTES 104 NUCLEAR POWER CORPORATION OF INDIA LIMITED .
Bhabha's Vision A fusion of the creative human intent with Nuclear fission. .
in design by dickenson Nuclear Power Corporation of India Limited .npcil. Mumbai .nic.400 005 www. World Trade Centre Cuffe Parade. Colaba.I.(A Government of India Enterprise) REGISTERED OFFICE 16th Floor. Centre .