Immersion study

Company’s for the purpose of study

1) Adani Power
2) Torrent Power

Name Roll no Section

Namrata Dixit SALIM054 A
Neelam Rani
Yash Gadiyal SALIM124 B
Kartikai Upadhyay
Neeraj Dewani SALIM153
Yash Soni SALIM027 B
SCHEDULE OF THE REPORT

Sr. Chapters No. Of Deadlines

No Pages
1 Chapter-1 : Introduction of Industry/ 6-7
Sector Pages
- Introduction
-History evaluation
-Current perspective
-Challenges of Industry
2 Introduction of Companies 6-7
-History Pages
-Mission-Vision statement
-Organization structure
-Milestones
-Product Profile
-SWOT Analysis
3 Subjective Analysis
3.1 Economics for managers 12-14
-Demand and supply of product and services. Pages
-Competitive analysis
-Market Structure of the company ( Whether
monopoly, oligopoly etc)
-Pricing decision
-Opportunity cost of the company
-Cost of Production
3.2 Managerial communication 8-10
-Study of formal communication channel Pages
-Study of informal communication channel
-How communication takes place between people
belonging to different hierarchy?
-What sort of communication channel they follow?
-Types of communication and Process of it
3.3 Management Information System 10-12
-To understand the information system that prevails in Pages
the company.
-Which technologies they are using in the respective
company for centralized communication?
-Analysing how MIS impact a firm in terms of value
creation and strategic advantage
-Role of MIS in achieving competitive business
advantage through better decision making
3.4 Organizational Behaviour 10-12
-How Goal Setting is done? Pages
-Which Motivation policies are executed for
employees?
-Strategies used to build group dynamics
-What sort of leadership is followed?
-How Performance evaluation is conducted?
-Which are practices followed for change
management?
3.5 Management Accounting 15-17
-Balance Sheet analysis of both the companies Pages
 individually and inter comparison has to be done to
draw necessary conclusions about the similarities and
differences.
-Ratio analysis needs to done and necessary
conclusions has to be provided.
3.6 Business Statistics 15-17
-Taking the past data like sales data, calculate various Pages
statistical terms with the help of SPSS software like
descriptive statistics, inferential statistics and
relationship statistics
3.7 Business Ethics and Corporate Governance. 10-12
-Whether companies adhere to corporate governance Pages
policies or not.
-How compliance to corporate governance is
executed?
-Policies for whistle blowing
-Conduct CSR performance
4 Practical Learnings from the Project
5 Bibliography
Chapter 1 : Introduction to the Indian power sector

India is the world's third largest producer and third largest consumer of electricity. The electric
national grid in India has an installed capacity of 360.788 GW as of 31 August 2019. Renewable
power plants, which also include large hydroelectric plants, constitute 34.86% of India's total
installed capacity. During the 2018-19 fiscal year, the gross electricity generated by utilities in India
was 1,372 TWh and the total electricity generation (utilities and non utilities) in the country in the
2018-19 period was 1,547 TWh. The gross electricity consumption in 2018-19 was 1,181 kWh per
capita. In 2015-16, electric energy consumption in agriculture was recorded as being the highest
(17.89%) worldwide. The per capita electricity consumption is low compared to most other countries
despite India having a low electricity tariff.

India has a surplus power generation capacity but lacks adequate distribution infrastructure. To
address this, the Government of India launched a program called "Power for All" in 2016. The
program aims to provide the necessary infrastructure to ensure uninterrupted electricity supply to all
households, industries, and commercial establishments, creating economic growth. Funding is
supplied through a collaboration between the Government of India and its constituent states.

India's electricity sector is dominated by fossil fuels, in particular coal, which during the 2017-18
fiscal year produced about three-quarters of the country's electricity. The government is making
efforts to increase investment in renewable energy. The government's National Electricity Plan of
2018 states that the country does not need more non-renewable power plants in the utility sector until
2027, with 50,025 MW coal-based power plants under construction and 275,000 MW total renewable
power capacity installed after the retirement of nearly 48,000 MW old coal-fired plants.

History:

The first demonstration of electric light in Calcutta (now Kolkata) was conducted on 24 July 1879 by
P.W. Fleury & Co. On 7 January 1897, Kilburn & Co secured the Calcutta electric lighting license as
agents of the Indian Electric Co, which was registered in London on 15 January 1897. A month later,
the company was renamed the Calcutta Electric Supply Corporation. The control of the company was
transferred from London to Calcutta only in 1970. The introduction of electricity in Calcutta was a
success, and power was next introduced in Bombay (now Mumbai). The first electric lighting
demonstration in Mumbai was in 1882 at Crawford Market and the Bombay Electric Supply &
Tramways Company (BEST) set up a generating station in 1905 to provide electricity for the
tramway.

The first hydroelectric installation in India was installed near a tea estate at Sidrapong for the
Darjeeling Municipality in 1897. The first electric street light in Asia was lit on 5 August 1905 in
Bangalore. The first electric train in the country ran on the Harbour Line between Bombay's Victoria
Terminus and Kurla on 3 February 1925. On 18 August 2015, Cochin International Airport became
the world's first fully solar powered airport with the inauguration of a dedicated solar plant.

India began using grid management on a regional basis in the 1960s. Individual State grids were
interconnected to form 5 regional grids covering mainland India, the Northern, Eastern, Western,
North Eastern and Southern Grids. These regional links were established to enable transmission of
surplus electricity between states in each region. In the 1990s, the Indian government began planning
for a national grid. Regional grids were initially interconnected by asynchronous high-voltage direct
current (HVDC) back-to-back links facilitating the limited exchange of regulated power. The links
were subsequently upgraded to high capacity synchronous links.

The first interconnection of regional grids was established in October 1991 when the North Eastern
and Eastern grids were interconnected. The Western Grid was interconnected with these grids in
March 2003. The Northern grid was also interconnected in August 2006, forming a Central Grid that
was synchronously connected and operating at one frequency. The sole remaining regional grid, the
Southern Grid, was synchronously interconnected to the Central Grid on 31 December 2013 with the
commissioning of the 765 kV Raichur-Solapur transmission line, establishing the National Grid.

By the end of the calendar year 2015, despite poor hydroelectricity generation, India had become a
power surplus nation with huge power generation capacity idling for want of demand. The calendar
year 2016 started with steep falls in the international price of energy commodities such as coal, diesel
oil, naphtha, bunker fuel, and liquefied natural gas (LNG), which are used in electricity generation in
India. As a result of the global glut in petroleum products, these fuels became cheap enough to
compete with pit head coal-based power generators. Coal prices have also fallen. Low demand for
coal has led to coal stocks building up at power stations as well as coal mines. New installations of
renewable energy in India surpassed installations of fossil fuel for the first time in 2016-17.

On March 29, 2017, the Central Electricity Authority (CEA) stated that for the first time India has
become a net exporter of electricity. India exported 5,798 GWh to neighbouring countries, against a
total import of 5,585 GWh.
 Current situation :

▪ India is the third largest producer and third largest consumer of electricity in the world, with the
installed power capacity reaching 360.788 GW as of august 2019. The country also has the fifth
largest installed capacity in the world.

▪ India is ranked 4th in wind power, 5th in solar power and 5th in renewable power installed capacity
as of 2018.

▪ Third largest producer and third largest consumer globally.

▪ India is on path to achieve 100 per cent household electrification by March 31, 2019, as envisaged
under the Saubhagya scheme.

▪ As of March 2019, more than 26.2 million households have been electrified under Saubhagya
scheme.

▪ By 2018, a total of 25 states have achieved 100 per cent household electrification which included
23.1 million rural and 844,670 urban households. The remaining households are expected to be
electrified by March 2019.

▪ As of June 30, 2019, India has an installed renewable energy capacity of 80.47 GW. Wind energy is
estimated to contribute 60 GW, followed by solar power at 100 GW by 2022 and 15GW from
biomass and hydropower. The target for renewable energy has been increased to 175 GW by 2022.

▪ The government plans to double the share of installed electricity generation capacity of renewable
energy to 40 per cent till 2030.

▪ 100 per cent FDI is allowed under the automatic route in the power segment and renewable energy.
 Sources of power with shares in total installed capacity:

▪ In FY20 (As of June 19), total thermal installed

capacity in the country stood at 226.32 GW, while
renewable, hydro and nuclear energy installed
capacity totalled to 79.37 GW, 45.39 GW and
6.78 GW, respectively.

▪ By 2022, India has set a target to achieve total

production 175 GW from renewable resources out
of which 100 GW will be produced from solar
power.

▪ As a part of the green corridor project, the power

lines would transmit 20 giga watts of power capacity from 34 solar parks across 21 states.

▪ In August 2018, KfW a German based financial institution signed a US$ 228.15 million loan
agreement with India’s Rural Electrification Corporation Limited (REC) to provide low interest loans
to renewable energy project developers.

Share of different sources in total thermal power:

Share of different sources in thermal

▪ India has large reserves of coal. By the end power
of June 2019, total installed coal thermal 250
power capacity in India stood at 194.44
GW. By 2022, it is expected to witness total
194.44
200
installed capacity addition of 47.86 GW.

▪ India’s gas thermal power capacity

150
measures about 24.94 GW as of June 2019.
By 2022, it is expected to witness total
installed capacity addition of 0.41 GW. 100
Lignite thermal power capacity measures
about 6.26 GW as of June 2019
50
31.2
▪ India’s diesel thermal power capacity
measures about 0.64 GW as of June 2019 0.64
0

coal gas & lignite diesel

Growth drivers in power sector of India:

→Growing demand
Expansion in industrial activity to boost demand for electricity. Growing population along with increasing
electrification and per-capita usage to provide further impetus. Power consumption is estimated to reach
1,894.7 TWh in 2022.

→Market Size
Indian power sector is undergoing a significant change that has redefined the industry outlook. Sustained
economic growth continues to drive electricity demand in India. The Government of India’s focus on
attaining ‘Power for all’ has accelerated capacity addition in the country. At the same time, the competitive
intensity is increasing at both the market and supply sides (fuel, logistics, finances, and manpower).
Total installed capacity of power stations in India stood at 360.78 Gigawatt (GW) as of August 2019.

→Investment Scenario
Between April 2000 and June 2018, the industry attracted US$ 14.18 billion in Foreign Direct Investment
(FDI), accounting for 3.64 per cent of total FDI inflows in India.

Some major investments and developments in the Indian power sector are as follows:
▪ In November 2018, Renascent Power Ventures Pte Ltd acquired 75.01 per cent stake in Prayagraj
Power Generation Company Limited (PPGCL) for US$ 854.94 million.
 ▪ In August 2018, Kohlberg Kravis Roberts & Co (KKR) acquired Ramky Enviro Engineers Limited
for worth US$ 530 million.
▪ In April 2018 ReNew Power made the largest M&A deal by acquiring Ostro Energy for US$
1,668.21 million.

Major challengs:

→Over-dependence on imported coal

As much as 59% of the generated power in India comes from coal-based thermal power plants. Although
India has the 3rd largest coal reserves in the world, most of the domestic requirements are met through
imports due to:
(a) poor quality of coal found in India (low Gross Calorific Value)
(b) mining inefficiencies (a sluggish Coal India Ltd)
(c) environmental issues in opening up of new mines
Thermal coal imports jumped 19% to 171.85 million tonnes in 2018, marking the fastest pace of growth
since 2014. India imported 52.26 million tonnes of coking coal in 2018, up 14% from 45.93 million tonnes
in 2017. India's 2018 thermal coal imports rose at the fastest pace in four years, according to two industry
sources, despite moves by Prime Minister Narendra Modi's government to cut imports in a bid to reduce its
trade deficit. Coal is among the top five commodities imported by India, one of the world's largest
consumers of coal, and the rise in imports of the fuel after two consecutive years of decline adds to its trade
deficit. As such, the cost of generation of power is heavily contingent upon the import price of coal.

→Transmission inefficiencies
As much as 25% of the generated power is lost in transmission in India as compared to a maximum of 5% in
other Asian countries like China and South Korea. This is mainly due to lack of state-of-the-art
infrastructure.

→Distribution inefficiencies
Power companies can sell power only to government agencies which may either themselves distribute it to
the end users or outsource the same to private players. The State Electricity Boards (SEBs) often suffer
heavily due to populist measures of the government, such as giving free/cheap electricity to farmers before
elections, and also due to non-payment of dues by government departments. Most SEBs are neck-deep in
losses. This in turn curbs their own capacity to purchase power from the generating units. It leads to a
paradoxical situation where despite their state generating surplus power, some cities/towns suffer from long
periods of power-cuts every week.
Sharp increase in the financial losses of the utilities in the recent years with four states namely i.e. Tamil
Nadu, Rajasthan, MP, Uttar Pradesh, contributing the maximum.
• Reasons like tariff not reflecting Cost of Supply and expansion in business (supply & procurement)
resulting in higher financial losses even at same AT&C % levels are the prime concerns
• Aggregate losses of Rs.63,548 Cr in FY 2010 has crossed Rs. 1,00,000 Cr in 2010-11
• 16 SERCs have revised tariffs for 2012-13, which is a positive.
• AT&C losses continue to be a major concern. Losses in states like Bihar, Jharkhand, MP are still > 40%
while other states like AP, Delhi, Punjab have reduced losses < 20%

→Rapidly growing demand

Despite making remarkable progress in electricity distribution over the years, India still faces challenges in
meeting its growing demand for power and reliable supply still remains low in the country.
With a growing population, rapid urbanisation and an economy that is expected to grow at an average of 7
per cent every year(Annual growth rate), demand for electricity in India will almost triple between 2018 and
2040. With the total installed generation capacity more than doubling over the past decade from 154.7
gigawats (GW) in 2006-07 to 345.5 GW in 2017-18.

→Cyber threats
threats to smart grid systems in the country and an “urgent” need to develop a cyber security framework to
address security needs in the country’s power sector. The Wannacry ransomware attack in May 2017 had
affected computers and systems in 150 countries, including India
“Though India in past few years has developed technical standards for evaluating cyber security/ cyber-
attacks, there is a perceived lack of security built into the smart grid systems. Further, the mechanism for
information sharing on cyber security incidents need to be developed. Given the vulnerabilities in the
operations of the power system devices, including present practices followed, developing a multiple-threat
intrusion detection system is the need of the hour,” stated the CEA’s report, titled ‘Cyber Security in Power
System’.
Cyber and physical security threats pose a significant and growing challenge to electric utilities. Unlike
traditional threats to electric grid reliability, such as extreme weather, cyber threats are less predictable and
therefore more difficult to anticipate and address. This calls for an urgent need to develop a cyber security
framework and regulatory response to address the specific security needs of the power sector in India.
Chapter 2: Introduction of companies

Adani power

Adani Power Limited is the power business subsidiary of Indian conglomerate Adani Group with head office
at Ahmedabad, Gujarat. The company is India’s largest private thermal power producer, with capacity of
12,410 MW Adani Power was ranked as the 73rd largest corporation in India in Fortune India 500 list of
2018.

The company operates five supercritical boilers of 660 MW each and 4 supercritical boilers of 330 MW each
at Mundra, Gujarat; five 660 MW units at Tiroda, Maharashtra; two 660 MW units at Kawai and two 660
MW units at Udupi. It also operates a mega solar plant of 40 MW at Naliya, Bitta, Kutch, Gujarat. It is
India’s first company to achieve the supercritical technology. The plant is the only thermal power plant in
India to be certified by United Nations Framework Convention on Climate Change (UNFCCC) under Clean
Development Mechanism.

The company is implementing 1,600 MW at Godda and many other plants which are at different stages of
planning. The company has gone to long term PPAs of about 9,153 MW with government of Gujarat,
Maharashtra, Haryana, Rajasthan, Karnataka, and Punjab.
Adani Power is actively involved in CSR activities and was placed at the 95th rank among the top 100
companies listed in the Best Companies for CSR 2014 study

History:

The company was changed to Adani Power Private Limited. The RoC issued a fresh certificate of
incorporation on 3 June 2002. The Company was, thereafter, converted into a public limited company on 12
April 2007 and the name of the Company was changed to Adani Power Limited. Further, upon ceasing to be
a private limited company, the word private was deleted through a special resolution at the EGM of the
Company held on 28 March 2007. The fresh certificate of incorporation consequent to change of the name
was granted by the RoC to the Company on 12 April 2007.
Adani power was started as a power trading company 1996. It started generation in July 2009 by
implementation of its first 330MW of 4620mw at Mundra. The Mundra super mega project is the largest
coal based power project of India and fifth largest in the world. The company commissioned another three
330 MW by November 2010 and country's 1st supercritical unit of 660 MW on 22 December 2010, making
its capacity 1980 MW. 0n 6 June 2011 it synchronized its second unit of 660 MW bringing the total
generating capacity to 2640 MW and on 2 October 2011, it synchronized its third super critical unit with
national grid .With this, Adani power has become largest thermal power generating company in the private
sector and the Mundra plant has become India's Largest Power plant with capacity 3300MW. In February
2012, it commissioned the last unit of Mundra Project to take its capacity to 4,620 MW which makes the
Mundra TPP to be the largest privately held thermal power plant in the world and fifth largest on an overall
basis, as of March 2012. This plant became the third-largest thermal power plant in the world after its
completion. In 2013, the company commissioned a 40 MW solar power project in Kutch, Gujarat. This is the
largest solar power project in the country and marked the group’s entry into the renewable energy sector.

On April 3, 2014, Adani Power Ltd. announced the commissioning of the fourth unit of 660 MW at its
power plant at Tiroda in Maharashtra, thus emerging as the largest private power producer in India, with an
overall installed capacity of 9,280 MW. The fifth unit was commissioned later in 2014. Adani Power Ltd.
announced the completion of acquisition of Udupi Power Corporation Limited on May 11, 2015. With this,
Adani Power has a total commissioned capacity of 10,440 MW, making the company the largest private
power producer in India.

Vision:
To be a world class leader in businesses that enrich lives and contribute to nations in building infrastructure
through sustainable value creation.

Mission:
To assimilate knowledge, develop capabilities and manage collective enterprise to profitably
tap global business opportunities for the benefit everyone associated with Adani.

Milestones:
→In 2017, a unit of Adani Power plant created a national record by continuously operating for 600 days.

→The company has won many awards and recognitions. In 2017, Adani Power was named the Most
Innovative Young Power Professional by IPPAI (Independent Power Producers Association of India) at the
18th Regulators & Policymakers Retreat. In 2017, CSR Works International with support of British
Chamber of Commerce and High Commission of Canada, recognised Adani Power for best sustainability
reporting in Asia, in Singapore. In 2018, it bagged the Recognition for Best Environment Management
practices by Srishti Publications.

→Have been certified for all the three standards under the umbrella of IMS
QMS 9001:2008 certification
ISO 14001 Environmental management system
ISO 18001 certification for OSHAS
ISO 50001 Energy management system
 Organizational structure

Board of directors &

chairman

CEO

Finance & IT Legal counsel

Engineering Regulatory &

business
development
Human resources

Power
generation

Procurement Sales Marketing & Energy Mundra plant(coal)

communtication management

Kawai plant(coal)

Bitta plant(solar)

Tiroda plant(coal)

Udupi plant(coal)
Swot analysis:

Strengths
• Strong execution track record on the back of the huge success of Mundra Port
• The diversified nature of the Adani Group (especially its presence in ports and coal trading)
augurs well for Adani Power
• Stellar operational efficiency (FY10 average PLF was 85%+ compared with India’s national average
of 78%)
• Minimal exposure to merchant power
• Most of the equity share capital and Debt has been invested in the creation of assets which are
operational. This has led to Increasing Revenues YoY. This shows a strong Project - Execution
record
• Has a small yet effective workforce of approx 2000 employees

Weaknes

• All of Adani’s power plants use Chinese equipment

• Conflict of interest given that other promoter owned companies are also in power generation
• Present only in very few states namely Gujarat, Maharashtra and Haryana
• Has a very low market share even compared to the private players like Tata Power and Reliance
Power

Opportunities

• Can diversify into Hydro-electric power generation

• Adani Group has a presence in coal imports and coal mining. This offers a significant opportunity for
Adani Power to expand its operations and compete with other contenders for UMPPs
• Opportunity to establish presence in other parts of the country

Threats

• Changes in International prices of coal & mining new coal mines being lengthy bureaucratic process
• Changes in International policies regarding import of coal.
• Increase in private sector power generation could lead to compressed rates of merchant power
• Reliance Power, NTPC, Tata Power
Torrent power

Torrent Power Limited is an India-based company engaged in the electricity generation, transmission and
distribution. Its current operations are in the states of Gujarat , Maharashtra and Uttar Pradesh. The company
is the sole distributor of electricity to consumers in the cities of Agra, Ahmedabad, Bhiwandi, Gandhinagar,
Surat.

Generation

• Torrent Power has an aggregate generating capacity of 3191.6 MW comprising:

• 1530 MW SUGEN gas based mega combined cycle power plant near Surat
• 1200 MW DGEN Mega Power Project
• 362 MW coal based Sabarmati Thermal Power Station at Sabarmati, Ahmedabad
• 50 MW solar plant at Charanka
• 49.6 MW wind farm at Jamnagar

Transmission

Torrent Power has set up a 400 kV transmission system for evacuating power generated at its SUGEN plant
to the various off take centers. The project being implemented in a phased manner is nearing completion and
is expected was functional during FY 2010-11.

Distribution

Torrent Power transmits and distributes more than 13 billion units of power to almost 3 million customers in
the cities of Ahmedabad, Gandhinagar, Surat and Bhiwandi,Agra spanning an area of 408 km2. and
franchise area of 721 km2. These cities are major industrial and commercial hubs.

The T&D losses in Gujarat at 6.54% is amongst the lowest in the country. A testimony of Torrent Power’s
operational efficiency is the drastic reduction in T&D losses in Bhiwandi from 48% in January 2007 to the
present 19.33%. T&D loss in Feb-17 approx 15℅

History

In 1997, the company completed its acquisition of the Ahmedabad Electricity Company by purchasing the
entire 28.89% stake held by the Gujarat government. This acquisition formed what was then known as
Torrent Power AEC Limited. Similarly, after acquiring the Surat Electricity Company in the same deal,
Torrent Power SEC Limited was formed.

In 2005, the parent company, Torrent Group floated the company Torrent Power Generation to further
expand into the power business. In 2006, the three power-related companies of Torrent Group, Torrent
Power AEC Ltd, Torrent Power SEC Ltd, and Torrent Power Generation Ltd were merged to form Torrent
Power.

More recently, in 2009, Torrent Power inked a deal with Uttar Pradesh Power Corporation Limited to
franchisee to supply power to parts of Kanpur and Agra then handled by The Kanpur Electricity Supply
Company Ltd. (KESCo) and the Agra Circle of Dakshinanchal Vidyut Vitran Nigam Limited (DVVNL) for
20 years.

Core values

These strong pillars, the Core Values, which Torrent believes in and constantly strives to build, are:
Integrity, Passion for Excellence, Participative Decision Making, Concern for Society & Environment,
Fairness with Care and Transparency. Each of these Timeless Values, a Pillar of Strength, ENSURES OUR
LONGEVITY.

INTEGRITY

When truth is paramount

Thoughts and actions entail doing the right thing at all times and in all circumstances; whether or not anyone
is watching. This requires inner courage and conviction, no matter what the consequences are. It is
honouring one’s commitments and being accountable for one’s actions, end-to-end.

PASSION FOR EXCELLENCE

When best is not enough

Passion for excellence means not doing extra-ordinary things, but doing ordinary things in all pursuits
exceedingly well. Passion and excellence are forces that fuel each other on the exclusive path to leadership.
As we are what we repeatedly do, excellence then is not an act, but a habit.

PARTICIPATIVE DECISION MAKING

Involvement that engenders effectiveness

An ideal organisation facilitates participation and involvement of each of its members in various decision
making processes, thus ensuring their commitment to such decisions as well as its outcome. It provides a
platform for seeking and nurturing constructive ideas from individuals, teams and units which eventually
yields exceptional results.

CONCERN FOR SOCIETY & ENVIRONMENT

When every smile matters

Concern for Society & Environment is a sense of responsibility and contribution to society that defines our
existence. It entails making a difference in the quality of lives and environment surrounding us. It is
important to encourage fellow-members on collective as well as individual basis to fulfil the responsibility of
leaving behind a world rich in flora and fauna and rich in time tested values and ideals and above all rich in
social fervour for our future generations.

FAIRNESS WITH CARE

Harnessing equality

Fairness and Care towards all fellow members are inextricably linked. Weaving the threads of equality,
irrespective of caste, creed, religion and gender, into the day to day fabric, ensures fairness for each and
every individual. Empathic care recognises needs and aspirations of all. Only such fairness and care
eventually lead fellow members to the dawn of eternal success.

TRANSPARENCY

Openness that builds enduring trust

Transparency implies openness. It is the opposite of secrecy. It encourages more informed decision making
and aids in creating enduring trust among all stakeholders.

Milestones

• Torrent Energy Limited and Torrent Cables Limited amalgamate with Torrent Power Limited with
effective date of 1st October, 2015 and appointed date of 1st April, 2014 pursuant to the order of the
Hon’ble High Court of Gujarat sanctioning the Composite Scheme of Amalgamation.
• Torrent Power launches first-of-its-kind user-friendly Customer Self Service mobile application
“Torrent Power Connect” and web portal “connect.torrentpower.com”, offering highly personalized
and real time services in the Company’s License Areas of Ahmedabad, Gandhinagar and Surat as
well as in the Franchisee areas of Agra & Bhiwandi has been launched.
• The Company receives “Gujarat Ratna Award” for demonstrating excellence in the power sector.
• Torrent Power books regasification and storage capacity with Petronet LNG Limited up to 1
MMTPA for 20 years starting from April, 2017.
• Successful commissioning of the 81 MW GENSU Solar Power Project adjacent to SUGEN Plant in a
cost effective manner.
• Awarding EPC contract to M/s. Suzlon Energy Limited for implementing 201.6 MW Wind Power
Project in Kutch and Bhavnagar districts in Gujarat.
• Awarding EPC contract to M/s. Wind World India Ltd. for implementing 136.8 MW Wind Power
Project in Rajkot and Surendranagar districts in Gujarat.
• DGEN Plant receives five star rating from British Safety Council on Five Star Occupational Health
and Safety System Audit
• Cables Unit receives certification under ISO 14001: 2004 and BS OHSAS 18001:2007.
 Organizational structure

Board of directors &

chairman

CEO

Finance & IT Legal counsel

Engineering Regulatory &

business
development
Human resources

Procurement Sales Marketing & Energy Power

communtication management generation

Bharuch plant(gas) Power

transmission
Surat plant(gas)

Surat plant(gas) Power

distribution
Ahmedabad plant(coal)
Cables
Jamnagar, Charanka,
Near Surat, Kutch, Rajkot,
Bhavnagar plants(wind)
SWOT analysis

Strength:

• Successful in Private distribution franchisee business

• Very low debt to equity ratio thus minimizing exposure to risk
• High efficiency of generation and also of transmission and distribution(T&D)
• Integrated across the value chain – Generation, Transmission and Distribution
• Good presence in Maharashtra, Gujarat and UP

Weakness:

• Presence restricted to few states

• Unlike major players, Torrent Power does not possess sources of coal or oil and hence incapable of
doing Backward Integration.

Opportunities:

• Huge scope in the private power sector and scope to enter new markets in India
• Scope to expand its franchisee business
• Scope to enter the T&D business in other states

Threats:

• Cannot compete with bigger players due to absence of economies of scale

• May face opposition from local State Electric Boards
• Delays in transportation of imported gas
• Reliance Power, Adani Power, NTPC, Tata Power