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NHPC Limited, hosted its 46th Annual General Meeting

Aug 26th, 2022 6:19 pm | By | Category: SPECIAL NEWS COVERAGE

NHPC Limited, hosted its 46th Annual General Meeting (AGM) through video conferencing from its Corporate Office, Faridabad on 25th August 2022. The members of the company approved a dividend of Rs 1.81/- per equity share for the year 2021-22, which is inclusive of interim dividend of Rs 1.31/- per equity share paid in March, 2022. A.K. Singh, CMD, NHPC addressed the shareholders at the AGM wherein members of NHPC Board including Y.K. Chaubey,Director (Technical), R.P. Goyal, Director (Finance), Biswajit Basu, Director (Projects) and Independent Directors including Dr. Uday Sakharam Nirgudkar, Prof. (Dr.) Amit Kansal, Dr. Rashmi Sharma Rawal and Jiji Joseph and Smt. Rupa Company Secretary, NHPC were also present. CMD, NHPC highlighted upon various key achievements made by NHPC. Singh informed that NHPC achieved its highest ever annual Profit After Tax (PAT) of Rs.3,538 crore on standalone basis) in FY 2021-22 compared to Rs.3,245 crore in FY 2020-21, a 9% increase. Elaborating further on NHPC’s achievements during financial year 2021-22, Singh informed that NHPC power stations generated 24,855 MUs of electricity against the Design Energy of 23,540 MUS. NHPC power stations also recorded highest ever Annual PAF of 88.19%. He further added that cash contribution of Rs.1,183.05 crore was made to Government of India’s exchequer through dividend (final dividend for FY 2020-21 of Rs.249.44 crore and interim dividend for FY 2021-22 of Rs.933.61 crore).

A.K. Singh, CMD, NHPC also informed that NHPC Limited has signed a Memorandum of Understanding (MoU) with Investment Board Nepal, Govt. of Nepal on 18.08.2022 at Kathmandu, Nepal for development of two hydropower projects namely West Seti (750 MW) and Seti River 6 project (450 MW) in Nepal. A.K. Singh informed that NHPC took over 1856 MW Sawalkot HE Project from Jammu & Kashmir State Power Development Corporation Ltd. on December 11, 2021. He added that NHPC has also signed Promoters’ Agreement with Green Energy Development Corporation of Odisha Ltd. (GEDCOL) for “Development of 500 MW Floating Solar Projects on different water bodies in Odisha”. The proposed equity participation in the Joint Venture between NHPC and GEDCOL shall be in proportion of 74:26 and on completion, this project is going to be one of the largest Floating Solar project in the world. CMD, NHPC further said that NHPC has also signed Letter of Intent for “Development of 10000 MW Renewable Energy Parks/ Projects in Rajasthan with Rajasthan Renewable Energy Corporation Limited and Rajasthan Urja Vikas Nigam Ltd.” NHPC has also bagged 1000 MW capacity Solar Power Project at a Viability Gap Funding (VGF) of Rs. 44.90 lakh/MW under CPSU Scheme, Phase-II, Tranche-ill in the e-Reverse auction conducted by Indian Renewable Energy Development Agency Limited (IREDA).

A.K. Singh also highlighted upon various awards and accolades won by NHPC. These included the Gold Shield for ‘Excellence in Financial Reporting’ awarded by the Institute of Chartered Accountants of India (CAI) for FY 2020-21 in the category “Infrastructure & Construction Sector Turnover equal to or more than Rs. 500 crore” The Company also won the Certificate of Merit for the ‘Best Presented Annual Report from the South Asian Federation of Accountants (SAFA) in the Category”Public Sector Entities”. He added that NHPC’s Rajbhasha journal ‘Rajbasha Jyoti’ was awarded ‘First Prize’ under ‘Rajbhasha Kirti Puruskar (Griha Patrika) in Region ‘A’ by Ministry of Home Affairs, Govt. of India for the year 2019-20. NHPC has also been awarded Second Prize for commendable work in implementation of Rajbhasha under Rajbasha Kirti Puruskar scheme. Further, NHPC was conferred with “PSU developer of the year” Award in Gold Category by EQ International during EQ’s PV Invest Tech India Conference & Awards at New Delhi. NHPC was also declared ‘Winner’ in category of ‘Best Implementation of Dam Rehabilitation Project’ at the Water Digest Water Awards, 2021-2022. Various queries of members regarding performance of the Company were also addressed at the AGM.

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