We have entered the IInd Quarter of 2019-20 after the year 2018-2019 witnessed an all time high CAPEX of Rs.7208.16 Cr. Our average Tariff has also been through a change from Rs 4.32 to Rs 3.83 indicating our cost effectiveness and operational efficiency. Although the Power Surrender has declined due to optimization of Lignite Price and other Cost reduction measures, the profitability was not in expected lines mainly due to Lower Capacity Utilization of Mines.
MoU with Ministry of Coal for 2019-20 has been signed on 16.05.2019 and now our prime endeavor to put forth our best efforts to achieve our financial Parameters along with Capacity Utilization against all odds to surpass the targets and regain our excellence on performance and sustainable growth has started. We have to sustain our Capex spending and also concentrate on R&D, Innovation and the Prime CPSE Conclave parameters. Our Management Committee Meeting scheduled every month on 16th reviews and monitors the Performance for continual improvement and excellence.
NTPL has fully geared up the restoration work of Unit-II Rotor with rigorous follow up at all levels to bring back and make up the revenue loss.
Going by the saying "Little Drops make the Ocean" I would appeal all to contribute their might in pursuit of excellence and propel NLCIL to greater Heights. The three pronged approach on Cost Reduction, Revenue Generation and Enhancing Excellence coupled with Constructive Suggestions and working in an organized manner will definitely add potential for accelerated Growth.
Let us all unanimously adopt this three pronged mantra and see that it percolates to every level be it Individual, Unit and Company and deliver our potential for accelerated growth in all areas.
The celebration of 63th Raising day Function on 20-05-2019 as GRATITUDE DAY reminded our treaded path with honoring of Senior most Retired Employees and their spouses on that momentous event. Their presence made the Meet meaningful and recalled the history of NLCIL spanning over six decades. It was an opportunity to pay rich tribute to the stalwarts of yesteryears, commendations to all the employees of present as well as past for their great contribution for NLCIL's growth.
On projects front, I am happy to note that Unit-II of 2x500 MW NNTPP was lighted up on 30.05.2019 and both Units are carefully driven towards successful commissioning. The Coal Mines at Talabira and South Pachwara are also progressing well.
Our commitment towards Green energy got strengthened with the first 100 MW Solar Power Plant of 709MW TN Solar Project commissioned on 29.4.2019 and further addition of 63 MW on 29.5.2019. Another 100MW is expected shortly.
The Pay Revision for the Unionised Workmen and the Unified Incentive Scheme replacing four existing schemes after hectic negotiations ended fruitfully without an iota of Industrial dispute/disturbance thus creating history in Industrial Relations of the Company.
DPC has been completed ONLINE in time with much transparency after exposure to Sessions related to Company Requisites. I hope that the just concluded DPC would fulfill the career aspirations of all sections of Executives and would reflect in more devotion and responsibilities furthering to higher productivity and profitability of the company. Those who missed the bus this time should not feel disheartened. Let us join together to make it happen better next time.
I am happy to inform that our Neyveli Students had won accolades in Asian Level Chess Championship and Sub Junior Nationals Swimming Championship. Our women employees participated in the National Masters Women Athletic Championship at Goa and won Medals in all Categories.
On this occasion, I wish to reiterate that new projects, both under implementation and formulation are the important key areas to be focused with utmost attention for timely implementation to achieve positive growth.
I am happy to note that Neyveli students have once again proved excellence in academic. I congratulate each one of them for their brilliance performance in the X & XII std Examinations. Neyveli students have proved their potential in this year's IIT-JEE and I wish them a successful academic career and a bright future.
We were further motivated and recognized for our Achievements in Environmental preservation through Awards:
(i) 4th EKDKN EXCEED AWARD 2018'- GOLD AWARD for Power inclusive of Renewables
(ii) GROW CARE INDIA AWARD – PLATINUM AWARD for Thermal Power Sector
(iii) GREENTECH ENVIRONMENT AWARD 2019 for Environmental Sustainability Practices for MINE II
Let us all together accumulate our synergy and converge the positive energy to achieve excellence in all spheres of Activities.
Integrity, Transparency and Team work will help us to scale new shores.
2nd July 2019