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Power List | September 2012

Powerful Fifty

The 50 power companies from generation, transmission, distribution, renewables and engineering.

Even though this year so far has not been very favourable to the power sector, there were many companies in the sector which performed well in terms of capacity addition in generation, transmission and distribution. However, financial performance of several companies hit due to delay in realization of their projects coupled with volatile fuel prices in international market and strangulated coal supply in domestic market. This year, state distribution utilities were the worst hit in the sector on account of enormous debt pile on their books.

Despite all such adversities, a majority of power sector companies especially from generation, distribution and renewable energy segment stood brave during the year and plan to excel fast pace growth in year ahead as India has set a target for adding about 18,000 MW of generation capacity for the financial year 2012-13. And, a similar capacity will be required for evacuating the electricity from the generation units and distributing to the end users. In the next few pages we have listed fifty companies showing healthy fundamentals during the past financial year and are focusing on high end growth in the current fiscal ending March 31, 2013.

NTPC

Revenue Rs 62,053.58 Cr
Net profit Rs 9,223.73 Cr
Capacity 39,174 MW
Planned capacity 14,038 MW

Since its inception in 1975, NTPC has been at the forefront of power generation in the country with a current installed capacity of 39,174 mw, which is almost 20 percent of the national capacity. The Maharatna public sector company plans to add 14,038 mw — including 2,160 mw commissioned since March — during the 12th five-year plan ending 2017. This includes 2,890 mw through joint ventures and subsidiaries.

Further, by 2032, the firm sees its capacity rising to 128,000 mw. It is emerging as an integrated power major, with a significant presence in the entire value chain of the sector. The country's largest power generating company has also diversified into hydro power, coal mining, power equipment manufacturing, oil and gas exploration, power trading and distribution.

MAHARASHTRA STATE POWER GENERATION COMPANY

Revenue Rs 12,116.48 Cr
Net profit Rs 309.45 Cr
Capacity 10,017 MW
Planned capacity 17,850 MW

Engaged in generation and supply of power, Maharashtra State Power Generation Company (Mahagenco) was incorporated on May 31, 2005 under the Indian Companies Act 1956 by reorganising the erstwhile Maharashtra State Electricity Board (MSEB). The said reorganisation of MSEB has been done by the Maharashtra government pursuant to Part XIII read with Section 131 of the Electricity Act 2003. The company has recently decided to set up power projects in partnership with private players in order to bring in efficiency, technology expertise and the much needed funding. Mahagenco is presently implementing projects with a capacity of 4,230 mw and aims to add 17,850 mw capacity through coal and natural gas by 2019.

TATA POWER

Revenue Rs 8,495.84 Cr
Net profit Rs 1,169.73 Cr
Capacity 6,099 MW
Planned capacity 20,000 MW

Tata Power has an installed generation capacity of 6,099 mw in India and a presence in all the segments of the power sector viz Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading. By 2020, the company plans to add another 20,000 mw capacity. One of the largest renewable energy firm in India, Tata Power pioneered the generation of electricity with the commissioning of the country's first large hydel project in 1915. The company has a power distribution arm in Delhi and it is now poised to participate in distribution opportunities in other Indian states and abroad. Tata Power is developing country's first 4,000 mw Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. Coastal Gujarat Power (CGPL), the special purpose vehicle developing Mundra UMPP, announced synchronization of its 800 mw second unit and its commercial operations recently.

NUCLEAR POWER CORPORATION

Revenue Rs 7,500 Cr
Net profit Rs 1,248.00 Cr
Capacity 4,780 MW
Planned capacity 17,000 MW

Responsible for design, construction, commissioning and operation of nuclear power reactors, Nuclear Power Corporation of India (NPCIL) currently operates twenty nuclear power reactors in the country and has an installed capacity of 4,680 mw. The wholly owned government enterprise is under the control of the Department of Atomic Energy (DAE). It was registered as a public limited company under the Companies' Act, 1956, in September 1987 to operate atomic power stations and implement projects for generation of electricity under the Atomic Energy Act, 1962. It is responsible for the NPCIL expects its capacity to rise to 9,580 mw by the end of 2017 on progressive completion of reactors under construction. NPCIL has planned to launch projects of about 17,000 mw capacity in the next five years ending 2017. With the progressive completion of these projects the nuclear power capacity of the firm is expected to reach over 20,000 mw by 2022.

TORRENT POWER

Revenue Rs 7,917.82 Cr
Net profit Rs 1,237.46 Cr
Capacity 1,648 MW
Planned capacity 5,497.5 MW

The Ahmedabad-based power company is engaged in generation, transmission and distribution of power and is known for turning around ailing power companies through acquisition. The firm took-over a sick cable company in 1989 (now known as Torrent Cables) and turned it around. It acquired two of India's oldest utilities Surat Electricity Company and Ahmedabad Electricity Company and turned them into first-rate power utilities comparable with the best, in terms of operational efficiencies and reliability of power supply.

The company forayed into renewable energy sector last year by implementing its first wind project of 49.6 mw at Lalpur in Jamnagar district. The company is implementing 5,497.5 mw of power projects, which includes 382.5 mw UNOSUGEN Project, 1,200 mw DGEN Mega Power Project, 3x840 mw super critical coal-based power project, 1,320 mw another coal based project, and 75 mw wind power project.

AP POWER GENERATION CORPORATION

Revenue 11,381 Cr
Net profit Rs 401 crore
Capacity 8,924.9 MW
Planned capacity 15,092 mw

Andhra Pradesh Power Generation Corporation (APGenco) commenced operation on February 1, 1999 and is running all the generating stations owned by the erstwhile Andhra Pradesh State Electricity Board (APSEB). The company has 15,092 mw of projects under different stages of construction and development. This includes 3,210 mw of under construction projects and 11,882 mw of under development projects. Of the 3,210 mw under construction projects, 2,800 mw is of thermal power, 410 mw is of hydel power. Prominent under development projects of the company are Vadarevu Ultra mega Power Project 5x800 mw, Rayalaseema TPP Stage-IV(Unit-6) 1x600 mw, Integrated Gasification Combined Cycle (IGCC) plant at Dr NTTPS 1x182 mw to name a few. In 2011-12, the net profit of the company expanded 28 percent to Rs 401 crore mainly because of rise in plant load factor and higher level of operational efficiency.

LANCO INFRATECH

Revenue 4,612.58 Cr
Net loss Rs 1,111.16 Cr
Capacity 4,400 MW
Planned capacity 4,000 MW

A flagship company of Lanco Group, Lanco Infratech (LITL) has been focusing on Engineering, Procurement and Construction (EPC), power, solar energy, natural resources and infrastructure over the last two-and-a-half decades. The company's power vertical develops and operates thermal, hydel, solar and wind projects. Notably, the company's solar segment, Lanco Solar, effectively integrates the entire solar value chain, with a presence in sectors such as poly-silicon, wafer and module manufacturing as well as project development (BOT), turnkey EPC and O&M services. It is also a developer or owner of solar power projects. The company has an installed power generation capacity of around 4,400 mw and it is planning to have additional thermal power capacity of about 4,000 mw by March 2015 at a total investment of around Rs 22,000 crore. Lanco has a total hydropower project portfolio of 1,242 mw in India and Nepal.

NHPC

Revenue Rs 5,654.69 Cr
Net profit Rs 2,771.77 Cr
Capacity 5,526 MW
Planned capacity 10,000 MW

A Mini Ratna Category-I public sector enterprise, NHPC has, since 1975, executed 15 projects with an installed capacity of 5,526 mw on ownership basis including projects taken up in joint venture. This is besides the Salal Stage-I, Bairasiul and Loktak Hydro-electric Projects that it took over from Central Hydroelectric Project Construction and Control Board in 1975.

NHPC has also executed 5 projects with an installed capacity of 89.35 mw on turnkey basis. Two of these projects have been commissioned in neighbouring countries of Nepal and Bhutan. With an investment base of approximately over Rs 387,180 million, it is among the top 10 companies in terms of investment.

Under a Memorandum of Understanding (MoU) with the central government, the company has set a target to generate 20,550 Million Unit (MU) in 2012-13 as against 18,500 MU set for last year. It aims to add 1,200 mw capacity in 2012-13 and during the entire 12th plan period (2012-17), the firm expects to set up over 10,000 mw capacity.

CESC

Revenue Rs 4,669.00 Cr
NET PROFIT RS 565.00 CR
Capacity 1,225 MW
Planned Capacity 7,500 MW

Established in 1899, CESC is a vertically integrated power company with operations spreading across coal mining, generation and distribution of power. Presently, the company serves 15 million people spread over its licensed area of 567 sq. km in the twin cities of Kolkata and Howrah in West Bengal. CESC has recently commissioned its newest 250 mw power plant at Budge, taking its installed generation capacity to 1,225 mw. Recently, the company acquired two hydroelectric projects with an aggregate capacity of 146 mw in Arunachal. By 2015, the company plans to add 500 mw of renewable energy capacity through solar, small hydro and wind projects. It is also planning to add 7,000 mw coal-based power capacity in six years by investing Rs 36,000 crore. So in all the company aims to add 7,500 mw power capacity in the next six years.

JSW ENERGY

Revenue Rs 5,016.42 Cr
NET PROFIT RS 234.64 CR
CAPACITY 2,600 MW
PLANNED CAPACITY 8,630 MW

One of the fastest growing private power company, JSW Energy has presence across the entire value chain of power industry from equipment manufacturing, mining, to generation, power trading, to transmission and distribution. The company was incorporated in 1994 and in less than a decade, it achieved several milestones working on solutions in Karnataka, Maharashtra, Rajasthan and Himachal Pradesh. Each project is strategically located either near an available fuel source, load centre or infrastructure facilities.

The company has an assured raw material supply as it successfully operates 3 million tonne per annum (mn tpa) lignite mines at Barmer, Rajasthan and it expects to expand it to 9 mn tpa by 2014. The company has an operational power capacity of 2,600 mw at present. Besides, it has 540 mw capacity in construction phase and 8,630 mw in development and implementation phase.

Jindal Power

Revenue Rs 2,979.67 Cr
Net Profit Rs 1,764.99 CR
Capacity 1,000 MW
Planned Capacity 4,180 MW

Established in 1995 as a wholly owned subsidiary of Jindal Steel & Power (JSPL), Jindal Power (JPL) set up a 1,000 mw power plant in Raigarh, Chhattisgarh in 2008 on a non engineering, procurement and construction (EPC) basis. This is said to be the first power plant of this scale to be built on a non-EPC basis in the country. Now the company decided to expand the capacity of the plant to 2,400 mw (4x600 mw) at an estimated project cost of Rs 13,410 cr. This project will be completed in stages by the end of 2013-14 and it has been funded on the basis of 75:25 debt-equity ratio. The company is implementing a 1,320 mw (2X660 mw) power plant at Dumka, Jharkhand with an estimated project cost of Rs 7,224.00 cr. It is also implementing a power plant of 1,320 mw (2X660 mw) at Godda, Jharkhand with an estimated project cost of Rs 7,271.00 cr. Both the plants are scheduled for completion by the year 2015. Besides this, the company has planned a total of 3,960 mw of thermal projects in Jharkhand and Orissa and a 220 mw of hydropower project in Nepal.

GMR Energy

Revenue Rs 2,375 Cr
Net Loss 156
Capacity 836.8 MW
Planned Capacity NA

Founded in 1996, GMR Energy operates as a subsidiary of GMR Infrastructure and presently has 6 operating assets with a cumulative capacity of 836.8 mw and 5 generation projects under construction with an aggregate capacity of 4,938 mw. In addition, 2 transmission projects are also under construction. In the last quarter of the financial year 2011-12, the company forayed into renewable energy by successfully commissioning two wind mills of 2.1 mw and 1.2 mw and a 25 mw solar power unit.

Successful commissioning of 25 mw solar power plant in Gujarat in a short span of less than one year is a key milestone for the firm. GMR Power, Chennai succeeded in defending the award for Rs 537 crore, it earlier won from Tamil Nadu Electricity Regulatory Authority, before the Appellate Tribunal and now the case is pending before the Supreme Court. The company is implementing a 300 mw project in Alakananda and a 180 mw project in Bajoli Holi for which it secured most of the approvals and clearances.

Adani Power

Revenue Rs 3,948.90 Cr
Net loss Rs 293.92 Cr
Capacity 4,620 MW
Planned capacity 7,260

Adani Power (APL), which was incorporated on August 22, 1996, focuses on the business of generation, accumulation, distribution and supply of power through its 13 subsidiary companies. APL together with its subsidiaries has 4,620 mw operational capacity, while 4,620 mw is under implementation and 7,260 mw is at the planning stage. The company is waiting for fuel linkages to start construction of three projects - 1,320 mw Chhindwara project in Madhya Pradesh, 3,300 mw Bhadreshwar and 2,640 mw Dahej plants, both in Gujarat. The Adani Group company intends to sell the power generated from these projects under a combination of long term Power Purchase Agreements and on merchant basis. The firm, alongwith its subsidiaries is implementing various transmission line projects of about 3,000 km length.

SJVN

Revenue Rs 1,927.50 Cr
Net profit Rs 1,068.68 Cr
Capacity 1,500 MW
Planned capacity 5,000 mw

SJVN was incorporated on May 24, 1988 as Nathpa Jhakri Power Corporation Pvt Ltd and on September 17, 2002, the name was changed to Satluj Jal Vidyut Nigam Ltd as the operation of the company was based in and around the river Sutlej. In October 2003, the first 250 mw hydroelectric power generation unit was commissioned at the Nathpa Jhakri Hydro Power Station (NJHPS). The company is currently working on a 412 mw Rampur hydro power project and has planned to complete it in September, 2013.

It proposes to add 5,000 mw additional capacity by 2014-15 at an additional investment of about Rs 29,000 crore. To achieve the target, it is exploring the possibility of new projects in Himachal Pradesh, Arunachal Pradesh, Nepal and Bhutan. It decided to execute two hydro power projects, namely 600 mw Kholongchu project and 570 mw Wangchu project in Bhutan in joint venture with Druk Green Power Corporation of Bhutan. The state-owned firm also forayed into wind power sector and plans to complete its first 50 mw wind project by 2013.

GVK Power

Revenue Rs 1,666.31 Cr
Net profit Rs 174.78 Cr
Capacity 943 MW
Planned capacity NA

GVK Power & Infrastructure (GVKPIL) owns, operates, and maintains power plants based on coal, natural gas and hydel resources. Formerly known as Jegurupadu Operating & Maintenance Company Limited, it got its present name on July 13, 2005.

The company operates three gas-based power projects – Jegurupadu-I (216 mw), Jegurupadu-II (220 mw) and Gautami (469 mw) -- in Andhra Pradesh. The company has been facing problems with securing fuel for its power plants and hence it is making efforts to secure natural resources from abroad. As part of this effort, the company is implementing a $10 billion Alpha coal and rail project in Australia's Queensland in partnership with Australia's richest person, Gina Rinehart. The company has over 5,000 mw projects under various stages of construction and development. However, owing to shortage of fuel linkages, the company recently said that it would not take up new projects until its Australian mining project goes on stream. It planned to expand its Gautami and Jegurupadu projects to 800 mw but were put on hold because of paucity of natural gas.

NEYVELI LIGNITE CORPORATION

Revenue Rs 4,664.96 Cr
Net profit Rs 529.82 Cr
Capacity 2,740 MW
Planned capacity 6,480 MW

Incorporated in 1956, Neyveli Lignite Corporation (NLC) is engaged in mining of lignite coal and generation of power through the mined lignite. The Tamil Nadu-based firm declared commercial operation of its thermal power plants linked to Barsingsar mine in January 2012 and with this the firm's installed thermal power generation capacity rose to 2,740 mw. Presently, the firm has four operational thermal power plants – Thermal Power Station- I (600 mw), Thermal Power Station –I Expansion (420 mw), Thermal Power Station-II (1,470 mw), and Barsingsar Thermal Power Station (250 mw).

The company decided to foray into renewable energy sector and has floated tender for setting up a 50 mw wind power project at a cost of Rs 364.75 crore. Besides, it is in the process of setting up a 25 mw solar power plant in two phases with 10 mw plant in the first phase in Neyveli. Besides, the company proposed to set up 6,480 mw thermal power projects going forward. This includes –Sirkali project (4,000 mw), Ghatampur project (1,980 mw), Barsingsar Extension project (250 mw), Bithnok project (250 mw).

GUJARAT INDUSTRIES POWER COMPANY

Revenue Rs 1,290.99 Cr
Net profit Rs 118.36 Cr
Capacity 815 MW
Planned capacity 500 MW

Focused solely on power generation business, Gujarat Industries Power Company (GIPCL) came into existence as a Public Limited entity under Gujarat government in 1985. The Vadodara-based firm has an installed power generation capacity of 815 mw and has plants in Vadodara and Mangrol. The company aims to emerge as a national player in the coming years.

It commissioned its first power project, a 145 mw gas based Combined Cycle Power Plant in February, 1992 at Vadodara. Power from this plant is distributed to its promoters in proportion to their original equity holding. The company expanded its capacity and commissioned 165 mw naphtha and gas based Combined Cycle Power Plant at Vadodara in November, 1997 as Independent Power Producer(IPP) with Power Purchase Agreement (PPA) with GUVNL. In 1999, it set up a 250 mw lignite-based power plant at Nani Naroli, Surat. It has its own captive lignite mines at Vastan for Surat lignite power plant. The company commissioned 250 mw phase II expansion of the Surat project in April 2010. Presently, the firm is working on the phase III expansion of the plant with a capacity of 500 mw.

JAIPRAKASH POWER VENTURES

Revenue 1,575.69 Cr
Net profit Rs 400.73 Cr
Capacity 1,700 MW
Planned capacity 9,200 MW

Incorporated in 1994 as part of infrastructure major Jaypee Group, Jaiprakash Power Ventures (JPVL) plans, develops, implement and operate hydel and thermal power plants besides engaging in transmission segment. It owns and operates the 300 mw Baspa-II hydel project at Kinnaur in Himachal Pradesh, the 400 mw Vishnuprayag hydroelectric project in Uttarakhand, and 1,000 mw Karcham-Wangtoo hydel project in Himachal Pradesh. The Noida-based company is implementing 2,570 mw thermal power projects. Besides, the firm, through its subsidiaries and associates is implementing or planning power projects with an aggregate capacity of 9,200 mw – with 3,920 mw hydel power projects and 5,280 thermal projects. It has also subscribed to 74 per cent of the equity capital of Jaypee Powergrid (JPL) which developed a 217 km long transmission project to evacuate power from the Karcham Wangtoo project. The commercial operation of the line has begun from April 2012. The firm aims to have a total installed capacity of 13,470 mw by 2019.

ESSAR POWER

Revenue $357 mn (for 15 month ended March 2012)
Operational Ebitda $223 mn (for 15 month ended March 2012)
Capacity 2,800 MW
Planned capacity 3,900 MW

Incorporated in 1991, Essar Power operates as a subsidiary of Essar Energy Plc, which is listed in London Stock Exchange. The company has five operational power plants in India and one in Algoma, Canada, with a total installed capacity of 2,800 mw. The company aims to raise this capacity to 4,510 mw by the end of March 2013 and to 6,700 mw by the end of March 2014. Its parent firm Essar Energy has access to approximately 500 million tonne of coal resources across seven coal blocks in India and overseas.

The company's 2,800 mw operational capacity includes the recently commissioned unit 1 and unit 2 (600 mw each) of the coal fired Salaya I project. The firm also commissioned its first renewable energy project in early 2012, a 1 mw solar photovoltaic plant at Bhuj in Gujarat. The company expects to commission its 1,200 mw Mahan 1 project in Madhya Pradesh and 510 mw Vadinar P2 project in Gujarat by the end of 2012. By 2014, the company expects to complete the 2,270 mw Hazira project, 120 mw Paradip project, 1,200 mw Tori I and 600 mw Tori II project.

NAVA BHARAT VENTURES

Revenue Rs 526.11 Cr
Net profit Rs 147.74 Cr
Capacity 228 MW
Planned capacity 222 MW

Formerly known as Nava Bharat Ferro Alloys (NBFA), Nava Bharat Ventures (NBV) forayed into generation of thermal power, mainly for captive use in 1997. The company, which acquired its present name in July 2006, operates in diverse areas spanning power generation, alloys, mining, sugar and bio fuels. Generation and sale of power is a major business segment of NBV and the company is moving towards integrated power projects with captive coal mines and hydel power generation. Besides having presence in the Indian states of Andhra Pradesh and Odisha, the company has footprint in Southern Province of Zambia and Champasak Province of Laos.

It plans to raise its power generation capacity to 450 mw by the fourth quarter of 2012-13 by commissioning two more plants one each in Odisha and Andhra Pradesh. The 64 mw plant at Odisha is ready for commissioning and is awaiting final approvals to begin operations. The company expects to commission the proposed 150 mw Paloncha project in Andhra Pradesh by the end of 2013. In Zambia, the company is working on a 2x150 mw (300 mw) power project.

INDIA POWER CORPORATION (EARLIER DPSC)

Revenue Rs 540.58 Cr
Net profit Rs 25.40 Cr
Capacity 42.2 MW
Planned capacity 540 MW

Recently, India Power Corporation (IPCL) was amalgamated into DPSC and subsequently IPCL's investments in various companies including power sector companies got transferred to DPSC. As per the scheme of amalgamation, the name of DPSC got changed to India Power Corporation. The above financial information and power capacity figures pertains to the erstwhile DPSC for 2011-12.

The erstwhile DPSC has business interests across all the verticals of power sector namely generation and T&D in West Bengal. In T&D, it has a license for power supply in and around Asansol-Ranigunj area spread over 700 sq km with a combined distribution capacity of 230 MVA. It serves over 500 consumers' power needs in this area. It has a strong distribution network with T&D loss of only 3 per cent against the country's average of 25 per cent. (Source: CEA). The company was established in 1919 to supply power to Bengal Coal Company, then the largest producer of coal in Asia.
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KSK ENERGY VENTURES

Revenue Rs 1,908.1 Cr
Net profit Rs 410.2 Cr
Capacity 951.9 MW
Planned capacity 3,600 MW

KSK Energy Ventures (KSKEVL) was established in 2001 to capitalise on opportunities in the power sector and in generation it is well positioned with long-term fuel access for its various power plants. It is possibly the largest industrial power supply company in the country spread across various industry categories.

Its current business interests are thermal power plants and it currently has 881 mw of operational thermal capacity besides having 3,600 mw under construction.

Recently, the firm secured a contract to set up 10 mw solar power plant in Rajasthan. Besides, it has wind assets of an operational capacity aggregating to 71.15 mw. During the quarter and year ended March 31, 2012 the group disposed some of the wind mill assets with aggregate capacity of 52.25 mw under slump sale for a total consideration of Rs 228.82 crore and made a gain amounting to Rs 24.39 crore.

MAHARASHTRA STATE ELECTRICITY DISTRIBUTION COMPANY

Revenue 34,517.25 Cr
Net loss Rs 1,533.66 Cr

Maharashtra State Electricity Board (MSEB) was unbundled in to Maharashtra State Electricity Distribution Company (MSEDCL), Maharashtra State Power Generation Co and Maharashtra State Electricity Transmission Co in 2005. MSEDCL supplies electricity to a staggering 1.86 crore consumers all over Maharashtra excluding Mumbai and fetches an annual revenue of about Rs 33,000 crore. Taking into account the ever increasing load MSEDCL formulated a Rs 11,000 crore infrastructure plan.

The plan envisages erection and commissioning of 616 sub-stations, 48,962 circuit kilometers of HT lines, 69,274 distribution transformers besides augmentation of existing network. MSEB had erected 1,846 sub-stations during its life time, whereas MSEDCL aims to construct 616 sub stations in just 2-3 years.

GUJARAT URJA VIKAS NIGAM

Revenue Rs 20,315.05 Cr
Net profit Rs 75.69 Cr

On April 1, 2005, the erstwhile Gujarat Electricity Board (GEB) was re-organised to seven companies for trading, generation and T&D etc as part of a reform process and to improve efficiency.

The Gujarat Urja Vikas Nigam (GUVNL) was incorporated as a government of Gujarat undertaking. Since 100 per cent shares in the other six companies are held by GUVNL, w.e.f, April 1, 2005, they have become its subsidiary companies as per the provisions of the Companies Act 1956. It is engaged in the business of bulk purchase and sale of electricity, supervision, co-ordination and facilitation of the activities of its six subsidiary companies. GSECL is in to generation, GETCO in transmission, UGVCL, DGVCL, MGVCL and PGVCL are engaged in distribution in the northern, southern, central and western areas of Gujarat respectively.

CENTRAL POWER DISTRIBUTION COMPANY OF A P

Revenue 9,860.07 Cr
Net profit Rs 3.13 Cr

The Central Power Distribution Company of Andhra Pradesh (AP), came into being on April 1, 2000 as a sequel to the AP Electricity Reforms Act 1998. Headquartered at Hyderabad, the APCPDCL encompasses seven districts, catering to 7.6 million consumers. It has a vast infrastructure facility in its area with 1,338 numbers of 33/11 kV substations, 2,039 power transformers, 5,257 number of 11 kV feeders and around 246,426 distribution transformers of various capacities.

The company recently took some initiatives to improve the quality of service which includes electronic spot billing, pass books for individual customers, web-enabled customer service centres, tie-up with e-Seva centres for bill payment, online billing and enquiry system and tie-ups with e-Seva centres for bill payment. It has electrified 6,489 villages, 5,600 general hamlets, 2,059 tribal hamlets, 12,105 wadas and 5,806 weaker section colonies.

POWER GRID CORPORATION OF INDIA

Revenue 10,216.82 Cr
Net profit Rs 4,377.15 Cr

PowerGrid (PGCIL) is engaged in transmission with the mandate for planning, co-ordination, supervision and control over the complete inter-state transmission system. About 45 per cent of the total power generated in the country is wheeled through its transmission network.

The board of the company approved an investment worth about Rs 70,000 crore during the 12th Plan Period (2012-17). Recognising its role, the government conferred the Navratna status to it in May 2008, the highest honour for a public sector enterprise.

The company also received three national awards for system availability and early completion of projects for 2007-08, All India Organisation of Employers' Industrial Relations Award 2007-08 and IEEMA Power Awards 2009 for Excellence in Power Transmission.

RELIANCE INFRASTRUCTURE

Revenue 12,858.06 Cr
Net profit Rs 1,650.9 Cr

Reliance Infrastructure (R-Infra) holds 100 percent stake in its transmission subsidiary Reliance Power Transmission (RPTL). RPTL has become the leading private utility firm to have secured the first setup of projects worth Rs 1,370 crore in the Western region system strengthening schemes. Owing to lack of adequate investment, distribution losses have reached 32.86 per cent in 2000-01. India's largest private power distributor, it distributes electricity to two out of three homes in Delhi and Mumbai. Ever since it initiated the distribution of over 5,000 mw in various parts of the country, it managed to light up the lives of about 5.2 million customers. It has the enviable distinction of operating its networks with 99.93 per cent reliability. Efforts made towards achieving higher levels of efficiency have reduced distribution losses to 12.01 per cent - the lowest in the country.

BSES RAJDHANI POWER

Revenue Rs 4,734 Cr
Net loss Rs 1,738.9 Cr

Following unbundling of the Delhi Vidyut Board in 2002, distribution was transferred to BSES Yamuna Power (BYPL) and BSES Rajdhani Power (BRPL). These two of the three successor entities distribute electricity to 28.34 lakh customers in two-thirds of Delhi. It is one of the first utilities to have installed downloadable single-phase meters which are more accurate than conventional ones. Consumer convenience has been accorded top priority and almost every mode of payment has been made available like cash counters, cheques, payment kiosks, online payment, drop boxes, ECS etc. AT&C loss reduction is the biggest achievement by the BSES discoms in Delhi. In the BSES Rajdhani area, AT&C losses have been reduced from 51.5 per cent in 2002-03 to 19 per cent by 2009-10. The discoms have won the India Power Award 2010 for 'Overall Utility Performance – Urban Area'.

JODHPUR VIDYUT VITARAN NIGAM

Revenue Rs 4,844.00 Cr
Net profit 0.0

Jodhpur Vidyut Vitaran Nigam is one of the offshoots of Rajasthan State Electricity Board (RSEB) when the latter was unbundled into different organizations. The distribution function was separated from RSEB and vested into three discoms, registered under the Companies Act namely Jaipur, Ajmer and Jodhpur Vidyut Vitaran Nigam.

The Jodhpur Vidyut Vitaran Nigam (Jodhpur discom) has been created to engage in distribution and supply of electricity in 10 districts of Rajasthan. The area of the Jodhpur discom is equivalent to the area of Gujarat and over three times the area of Punjab. Its area of operation is 182,509 sq km.

TCP

Revenue 193.83 Cr
Net profit Rs 30.37 Cr
Capacity 9.2 MW
Planned capacity 6 MW

TCP was incorporated in 1971 with Tamil Nadu Industrial Development Corporation. It has set up 12 wind electric generators of 225 KW each in Tirunelveli in Tamil Nadu with the financial assistance of Rs 2 crore from the Industrial Development Bank of India (IDBI) and Rs 6.80 crore from Indian Renewable Energy Development Agency. All 12 windmills have been installed and commissioned and energy generated has been drawn for its factory at Karaikudi. It has also set up seven wind electric generators of 500 KW each at Coimbatore in Tamil Nadu at a cost of about Rs 20 crore.

It has also identified a 63.5 mw coal-fired power plant in South Africa. The plant, commissioned in 1999 at Thiruvallur district in Tamil Nadu, has been generating and supplying power to the TNEB grid. The company is also implementing a 6 mw biomass-based power plant at a cost of around Rs 22 crore.

SURYACHAKRA POWER CORPORATION

Revenue Rs 152.32 Cr
Net loss Rs 3.48 Cr
Capacity 20 MW
Planned capacity 350 MW

Suryachakra Power Corporation (SPCL) had set up a 20 mw diesel-based power plant near Port Blair, Andaman Islands, at a cost of Rs 850 million. The plant, in operation since 2003, has already notched up an annual turnover of Rs 1 billion. The company bagged an award to construct and operate the plant.

SPCL was listed in Bombay Stock Exchange in 2007. Suryachakra Global Enviro Power (SGEPL), a wholly-owned subsidiary of Suryachakra, seized an opportunity to establish a 9.8 MW biomass fuel-based power plant in Chhattisgarh. The project has been registered with UNFCCC for receiving CERs. As part of its expansion activities, it proposes to set up a 500 mw coal-based power project in Srikakulam, Andhra Pradesh. As a long-term source, an energy plantation is proposed. Further, a 40 MW biomass project has been planned in Andhra Pradesh.

INDOWIND

Revenue 20.57 Cr
Net profit Rs 2.93 Cr
Capacity 67.66 MW
Planned capacity 100 MW

Indowind, an IPP in the renewable energy field, generates power through dedicated wind farms and offers allied services in the wind energy sector. In 1995, its first 225 kW machine was installed in Tamil Nadu and in 2005 its 100th wind mill was commissioned at Nettur in Tamil Nadu. In 2006, it was India's first wind energy company to earn carbon credits (Certified Emission Reductions) by UNFCCC under the Clean Development Mechanism. It raised Rs 73.34 crore through an IPO in 2007 for setting up a 9 mw wind farm project at Chitradurga, Karnataka which it commissioned in 2008. It signed an MOU with Gujarat for 100 mw wind and 50 MW solar projects in 2009. It also signed an MOU with Karnataka for a 50 mw wind power project. Its total operational capacity is around 67.66 mw and it is planning to install a 100 mw wind farm at a cost of Rs 6,500 million.

VEER ENERGY & INFRASTRUCTURE

Revenue 69.68 Cr
Net profit Rs 6.75 Cr
Capacity 55 MW
Planned capacity NA

Mumbai-based Veer Energy & Infrastructure was established in 2006 and has approximately 55 mw capacity in operation. The 55 mw Chandrodi Wind Park, Kutch, Gujarat is one of its first and most prestigious projects. Infrastructure has already been fully developed for 55 mw from which an 18 mw wind farm was developed and commissioned in record time of three months. It has also set up 12 wind electric generators of 225 KW each at Kayathar in Tirunelveli district in Tamil Nadu with the financial assistance of Rs 2 crore from the Industrial Development Bank of India (IDBI) and Rs 6.80 crore from Indian Renewable Energy Development Agency. It has set up 6 wind electric generators of 500 KW each at Thenkasi taluk in Tirunelveli, Tamil Nadu at a cost of Rs 20 crore. It is also implementing a 6 mw biomass-based plant at a cost of around Rs 22 crore.

BF UTILITIES

Revenue Rs 10.22 Cr
Net profit Rs 4.81 Cr
Capacity 18.33 MW
Planned capacity NA

BF Utilities (BFUL), part of the $2.4 billion Kalyani Group, earlier operated in the infrastructure and investment business. The company was incorporated on September 15, 2000 in Maharashtra and born out of a demerger with Bharat Forge. Under the Kalyani Group initiative, an 18.33 mw wind farm was set up from 1998 to 2001.

The wind farm is spread over 300 acre at Thosegar in Satara district of Maharashtra. It won an award for Best Performing Wind Farm (above 2 mw category) which was given by the Indian Wind Power Association (IWPA) for 2005-06. Of the total capacity, 14.65 mw of eligible capacity has been registered as a CDM project and availed certified emission reduction (CERs i.e, carbon credit) benefits. The wind farm has been generating power at a plant load factor (PLF) of around 25 per cent, which is one of the highest in the state.

KARMA ENERGY

Revenue Rs 25.08 Cr
Net profit Rs 0.37 Cr
Capacity 33 MW
Planned capacity 620 MW

Karma Energy was born out of a restructuring exercise of the Weizmann group in 2010. This involved demerger of forex business undertaking and power business undertaking into companies rechristened as Weizmann Forex and Karma Energy respectively. Post restructuring, Karma Energy spearheads development of the RE sector. It is operating about 33 mw of wind projects in AP, Maharashtra and TN. Its wind power projects of aggregate capacity of over 620 mw are under various stages of implementation. The JVs have signed an MOU with Gujarat to develop wind farms of over 500 mw. The subsidiary companies are developing about 10 mw small hydel projects in Himachal Pradesh of which a 3.5 mw project at Chamba is to be commissioned in the second quarter of 2011. A JV is to develop a 50 mw solar project in Gujarat. It plans to increase the hydro and solar portfolio in the next five years.

ENERGY DEVELOPMENT COMPANY


Revenue 22.30 Cr
Net profit Rs 12.72 Cr
Capacity 19 MW
Planned capacity 291 MW

Established in 1995, the company is active in the renewable energy segment with a focus on hydro-electric power projects. The company currently has 19 mw of renewable energy capacity and has 291 mw of hydroelectric projects at various stages of development. The company owns and operates a 9 mw hydro-electric power project at Harangi, Karnataka, and 7 mw Ullunkal small hydroelectric power project in Kerala. Another 270 mw of hydroelectric project in Arunachal Pradesh is in the pipeline. The company has two operational wind projects of 1.5 mw each in Hassan and Chitradurg districts of Karnataka.

LARSEN & TOUBRO

Revenue Rs 4,303.02 Cr
Net profit Rs 428.16 Cr

Larsen & Toubro (L&T) Power specializes in turnkey solutions for up to 1,000 mw coal-fed power plant projects based on supercritical standards. The company, in partnership with Mitsubishi Heavy Industry executes such turnkey projects.

Similarly, it has demonstrated capability of executing BOP packages for subcritical and supercritical thermal projects on an EPC basis. It also provides engineering and design services for gas and coal-based power plants. It has a 1,680 mw thermal project at Gujarat estimated at Rs 6,720 crore. L&T and Howden have signed a JV to set up axial fans and air pre-heaters plant at Hazira for thermal power plants. It won the Frost & Sullivan Award for Excellence in Green Manufacturing. It was also ranked among the top three 'most attractive employers' in an online research carried out by HR services company, Ma Foi Randstad, in June 2011.

BHARAT HEAVY ELECTRICALS

Revenue Rs 38,191.8 Cr
Net profit Rs 8,238.8 Cr

Operating for over 50 years, BHEL has carved a mark for itself in the power equipment manufacturing sector. It offers over 180 products and provides systems and services to meet the needs of core sectors like power, transmission, industry, oil and gas and non-conventional energy sources. An ISO 9000 certification has given the company international recognition for its commitment towards quality. With an export presence in over 70 countries, it is truly India's industrial ambassador to the world. The company has been earning profits continuously since 1971-72 and paying dividends since 1976-77. It has supplied over 25,000 motors with drive control system to power projects and supplied over one million valves to power plants. Its greatest strength is its highly skilled and committed workforce of 46,748 employees.

Gammon India

Revenue Rs 5,536.07 Cr
Net profit Rs 91.23 Cr

A key infrastructure player in the country, Gammon India has specialized in the construction of nuclear power, hydro electric power, and transmission segments of electricity sector. The Transmission and Distribution (T&D) business of the firm operates on Engineering Procurement Construction (EPC) basis in power transmission and distribution sector.

The company's association with the construction of nuclear power projects dates back to 1959 when it completed the pre-stresses concrete (PSC) ball tank of India's first atomic reactor plant at Trombay. Its ongoing project is the Parbati hydel project Stage II of Rs 603 crore. It is also setting up a 250 mw coal-based power plant in Western India. The plant is expected to go on stream within 30 months of receiving the environment clearance.

BGR ENERGY SYSTEMS

Revenue Rs 321.45 Cr
Net profit Rs 38.15 Cr

BGR Energy was originally incorporated in 1985, as a joint venture between GEA Energietechnik GmbH, Germany and the promoter BG Raghupathy to manufacture and sell equipment and components used in thermal and nuclear power plants. In 1993 he and members of his family became shareholders of the firm. In 2007 the company name was changed from GEA to BGR Energy Systems. In March 2011, it was awarded turnkey contracts by PowerGrid worth Rs 36.61 crore. Having successfully executed BOP contracts, it has begun to focus on EPC contracts. Its projects business provides EPC and BOP services for coal-based thermal and gas-based combined cycle power plants. BGR Energy is working on a Rs 44.48 crore turnkey implementation contract that it secured from Nuclear Power Corporation (NCIL).

SUZLON ENERGY

Revenue 20,955.21 Cr
Net profit Rs 1,747.87 Cr

Conceived in 1995 with just 20 people, Suzlon is now a leading wind power company with over 13,000 people in 32 countries. It pioneered the 'concept to commissioning' model in the wind energy industry. Its market share (combined with Repower) is 6.9 per cent, making it one of the leading wind turbine manufacturing groups in the world. In India, it has been the market leader for 13 consecutive years with over 5,800 mw of installed capacity and with new capacity added every day. It is developing what will be the world's largest wind farm with over 1,500 mw of capacity planned in Gujarat.

AREVA T&D INDIA

Revenue Rs 4,129.19 Cr
Net profit Rs 162.41 Cr

With a staff size of over 4,200 people in India, Areva T&D India is among the top three players in transmission and distribution segment in the country. The firm is a subsidiary of Areva T&D SAS, which is a leading player in T&D globally upto extra high voltage levels (765 kV). Its product offerings include power and distribution transformers, switchgears, circuit breakers and products in energy automation. It has 8 manufacturing units and 22 sales offices and has been a trend-setter in high voltage switchgears. It was the first to build the 765 kV sub-station in India with NTPC at Sipat in Chhattisgarh. Around 70 per cent of load flow in India is managed by its automation solutions. Acquisition of Powermann and RB Watkins reinforced its global T&D service offering and acquisition of Nxtphase strengthened its position in the instrument transformer market.

KEC INTERNATIONAL

Revenue Rs 5,697.03 Cr
Net profit Rs 209.30 Cr

A flagship company of RPG Group, KEC International has emerged as a reputed player in power transmission equipment system since its inception in 1945.

The billion dollar firm operations in 45 countries across South Asia, Middle East, Africa, Central Asia and Americas. In 1950 it bagged its first tower supply order for the Bhakra Nangal Project. In 1959 it secured its first 220 kV turnkey transmission line project in India and in 1960 it got its first tower supply export order from New Zealand. It was in 1999 that it undertook its first 765 kV transmission project. In 2010 it acquired SAE towers, a leading manufacturer of lattice transmission towers in US, and the world's highest capacity 1,200 kV tower testing station was inaugurated in Nagpur and a 1,200 kV tower tested.

KALPATARU POWER

Revenue Rs 2,639.08 Cr
Net profit Rs 270.32 Cr

In the last over 28 years, Kalpataru Power Transmission (KPTL) has strengthened its presence in transmission lines and has executed projects in many states across India. The Kalpataru Group firm is a leading EPC contractor with a turnover of $590 million and annual installed capacity of 108,000 MTs galvanised steel towers.

It was the first ISO 9001 certified company in 1994 in the Indian transmission industry. In 2009, it received its largest domestic order of $260 million from MSETCL. In 2010, its revenue from international operations crossed the $222 million mark. It secured its first order from Kenya for about 500 km of transmission lines worth $100 million. The Gujarat- based firm has to its credit construction of over 8,500 km of transmission lines on turnkey basis. It has also designed, manufactured or supplied over 700,000 MTs of towers.

JYOTI STRUCTURES

Revenue Rs 2,677.60 Cr
Net profit Rs 91.8 Cr

Established in 1974, Jyoti Structures executes turnkey projects covering the entire gamut of power transmission business on a global scale.

The firm established manufacturing plants at Nashik, Raipur and Dubai with a combined manufacturing capacity of 160,000 mn t of Transmission Line Towers. It also has an in-house Tower Testing facility at Ghoti, Igatpuri, India. It has relationships with clients from over 40 countries across the globe.

It went public in 1989 and its shares were listed on the BSE. In 1988, it bagged its first turnkey contract from Maharashtra State Electricity Board (MSEB). In March 1995, it was accredited with ISO – 9001 certification by NQA –QSR (RVA accredited). In July 2001 its Nashik factory was accredited with an ISO 14001 certification. In 1997, it commissioned its own R&D and tower testing centre near Nashik. This is one of the most modern facilities available in the world and is suitable for testing of towers upto 1,200 kV.

ALSTOM PROJECTS INDIA

Revenue Rs 2,389.91 Cr
Net profit Rs 216.40 Cr

Alstom is a global leader in generation with a portfolio of products covering all fuel types. Close to 25 per cent of the world's power production capacity depends on its technology and services. It is a world leader in service for generation, hydro turbines and generators, the number of boilers installed worldwide and installed turbines and generators for N-plants. In July it signed an O&M contract for about 20 years, worth around €330 million with Dalia Power Energies for the 835 mw gas-fired Tzafit plant in Israel. It is a market leader in thermal as well as hydro-based power projects. It has been instrumental in building the biggest hydro projects in the country including Subansiri (8x250 mw) and Uri II (4x60 mw) and efforts are on to make India a world hub for hydro projects. In thermal projects, it has installed one of the most efficient CCPP project with Gujarat State Electricity Corporation.

KEI INDUSTRIES

Revenue Rs 1,546.31 Cr
Net profit Rs 172.28 Cr

Manufacturer of high and low tension cables (EHV, HT & LT), KEI Industries is one of the leading players in the wires and cables industry with unique product range pan India and also across the globe.

It also produces control and instrumentation cables, house wires and stainless steel wires. Since its recent collaboration with BRUGG Cables, an over-a-century-old Swiss company, it has set foot into manufacturing EHV cables up to 220 kV, which is the present demand of the market, and diversified into the EPC business. It has been awarded the 'Superbrand' status for 2010-2011. An ability to use over 90 per cent of its resources makes it one of the most efficient players in the industry. It enjoys a unique flexibility to switch production between HT and LT cables depending on prevailing market conditions and demands.

TATA BP SOLAR

Revenue Rs 906 Cr
Net profit NA

Established in 1989, Tata BP Solar is a joint venture between Tata Power Company, a pioneer in the power sector in India and BP Solar, one of the largest solar companies in the world. Its sophisticated 84 mw solar cell manufacturing facility is capable of processing mono and multi crystalline wafers of 125 mm2 and 156 mm2. Its state-of-the-art 125 mw module manufacturing facility is one of the largest in Asia and capable of manufacturing modules from 0.3Wp to 280Wp and beyond. Its sales history over the years has been dramatic – from a modest Rs 16 million in 1991-92 to a phenomenal Rs 9,060 million in 2010-11. It is pioneering the technologies of tomorrow in providing large grids. Its 1 mw solar power plant in Delhi and a 3 mw solar power plant in Maharashtra are a precursor to the exciting possibilities that it has in store.

DIAMOND POWER INFRASTRUCTURE

Revenue Rs 1,895.11 Cr
Net profit Rs 124.18 Cr

Established in 1970, Diamond Power Infrastructure is one of the top five cable manufacturers in India. The firm was earlier known as Diamond Cables. In a revolutionary innovation, it introduced aerial bunched cables, which was regarded by many to be a boon for a developing country like India. Its expertise in the process of 'alloying' enabled it to become the first conductor manufacturer in Asia to have founded its own alloy rod mill. It introduced innovative products like aluminum alloy conductors in 1988, which changed the face of the Indian conductors industry, leading to its virtual extinction. It was the first proud recipient of the BIS Mark for the product in India.

TECHNO ELECTRIC

Revenue 813.72 Cr
Net profit Rs 121.60 Cr

A leading EPC solution provider for power generation, transmission and distribution segments, Techno Electric Techno has grown from strength to strength since its foray into the power sector in 1982.

The Company provides complete solutions for captive power plants, balance of plant (BOP) for thermal and hydro power projects and utilities for power projects.

The Kolkata-headquartered firm has EPC as its core business and it accounts for nearly 90 per cent of its revenues. It was engaged in setting up (in one capacity or other) over 50 per cent of India's thermal power generating capacity and a major portion of the national power grid.

It entered RE generation in 2009 with 95.45 mw of wind energy assets by acquiring two wind energy companies, namely, Super Wind and Simran Wind Project. It won the first of its kind PPP contract for a transmission link in Haryana. This is the first intra-state transmission project in the country.
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17 Oct 2016
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