NTPC set to add 5 gw capacity this fiscal: CMD Gurdeep Singh
The total income for fiscal 2016 is Rs 71,696.07 crore and profit after tax is Rs 10,242.91 crore making NTPC amongst the top ten profit making companies for the year in “NIFTY 50” said CMD Gurdeep Singh addressing media persons in New Delhi on Monday.
Director (Technical) A K Jha, Director (HR) U P Pani, Director (projects) S C Pandey, Director (Finance) K Biswal and Director (Operations) K K Sharma were present on the occasion.
Total assets of NTPC crossed Rs 2 lakh crore in 2015-16 on stand alone basis and stood at Rs 2,14,619.26 crore as on 31st March as compared to total assets of Rs 1,97,134.72 crore in the same period last year.
Company added 2255 mw during 2015-16 and has projects over 24 gw under construction- rapid capitalisation in next couple of years to take the company on growth trajectory and drive earnings. NTPC contributes 24 per cent of country’s generation. Meanwhile, the company said that right now it has no plans to buy back shares. “As of now we don’t have any formal communication nor there is any further buyback from our side,” Gurdeep Singh said here.
Elaborating on the same, company’s Director Finance Kulamani Biswal said :”You see buyback position comes only when you have sufficient cash reserves (idle) or you do not have capex plan. “We have about 24,000 mw of projects under construction which require Rs 1,00,000 crore of capital expenditure.
Therefore, our capital expenditure plans are also quite high.” The CMD further said as on March 31, 2016 there has been 100 per cent realisation. At the same time, the company is going ahead with expansion plans because under-construction projects are worth 24,000 mw. “There is a huge capex....We have been able to realise 100 per cent.
There are no problems as far as operations are concerned. But for our expansion programme we will have to go on borrowing,” Singh said. As many as eight private sector companies, including Bharti Infratel, Bharti Airtel, Wipro, Dr Reddy’s and OnMobile Global, in 2016 have announced buyback plans totalling about Rs 7,700 crore.
Singh further said there has been reduction in coal imports by the NTPC due to increased production of the fossil fuel by Coal India. The company said the Uday programme has started showing results as there is an increase in the power demand.