Saturday, March 12, 2011

NTPC = RESULTS = FOR Q3 FY 2011 = QTR ENDING DECEMBER 2010 = NET PROFIT UP QOQ BUT NOT ON YOY BASIS = FUTURE LOOKS PROMISING


NTPC Limited

NSE Symbol NTPC

NTPC LIMITED has performed well in Qtr ending December 2010 (Q3 FY 2011).

Net Sales at Rs.13421.28 cr – is up by 3.33% from Q2 FY 11(Previous qtr); up by 3.68% from Q1 FY 11; up by 8.64% from Q4 FY 10; and By 20.01% from Q3 FY 10(corresponding qtr).

Total Expenditure at Rs.   10186.88 cr – is up by 2.02% from Q2 FY 11; Down by 4.26% from Q1 FY 11; Down by 2.24% from Q4 FY 10; and up by 20.13% from Q3 FY 10.

Profit from Operations is Rs.3701.72 cr – up by 9.99% from Q2 FY 11; up by 39.05% from Q1 FY 11; up by 60.13% from Q4 FY 10; and up by 14.63% from Q3 FY 10.

Profit before tax is Rs.3410.63 cr – up by 12.6% from Q2 FY 11; up by 44.94% from Q1 FY 11; Up by 64.02% from Q4 FY 10; and up by 8.58% from Q3 FY 10.

Net Profit is Rs.2371.48 cr – up by 12.53% from Q2 FY 11; up by 28.75% from Q1 FY 11; up by 17.54% from Q4 FY 10; and up by 0.27% only from Q3 FY 10.

On a face value of Rs.10, Basic EPS  is Rs.2.88 in Q3 FY 11; Rs.2.56c in Q2 FY 11; Rs.2.23 in Q1 FY 11; Rs.2.45 in Q4 FY 10; Rs.2.87 in Q3 FY 10.

CURRENT MP  is Rs.175. Current annual EPS is likely to be around Rs.10.55. On this basis, the Current PE Ratio is 16.58.

NTPC has excellent expansion programs, which are currently under execution. This ensures that the profitability of NTPC keeps on improving QOQ.

STAND ALONR RESULTS TABLE :

N T P C
31-Dec-10
30-Sep-10
30-Jun-10
31-Mar-10
31-Dec-09
Net Sales
1342128
1298929
1294449
1235339
1118373
Net Sales
1342128
3.33
3.68
8.64
20.01
Other Operating Income
46732
36119
35806
37815
52547
Raw Materials
833864
860727
870231
834598
676726
Employees Cost
68852
70918
68382
74561
57230
Depreciation
59855
50628
68272
73216
66136
Other Expenditure
56117
16210
57163
59606
47892
Total Expenditure
1018688
998483
1064048
1041981
847984
Total Expenditure
1018688
2.02
-4.26
-2.24
20.13
Profit from Operations
370172
336565
266207
231173
322936
Profit from Operations
370172
9.99
39.05
60.13
14.63
Other Income
20209
25354
22687
24950
25366
Interest
49318
59020
53575
48179
34178
Profit before tax
341063
302899
235319
207944
314124
Profit before tax
341063
12.6
44.94
64.02
8.58
Tax expense
103915
92161
51130
6179
77626
Net Profit
237148
210738
184189
201765
236498
Net Profit
237148
12.53
28.75
17.54
0.27
Dividend (%)
-
-
-
8
-
Face Value (In Rs
10
10
10
10
10
Paid Up Equity
824546
824546
824546
824546
824546
Basic EPS
2.88
2.56
2.23
2.45
2.87
Public Holding (%)
15.5
15.5
15.5
15.5
10.5

ANNOUNCEMENTS
TO THE NSE

7-03-2011             1) The Unit-I of 500 MW of Indira Gandhi Super Thermal Power Project at Jhajjar of Aravali Power Company Private Limited (APCPL) a JV of NTPC Limited, Haryana Power Generation Corporation Limited, Govt. of Haryana and Indraprastha Power Generation Company, Govt. of Delhi is declared on commercial operation w.e.f. 00:00 Hrs of March 05, 2011. (2) The Unit-VI of 500 MW of Farakka Super Thermal Power Station has been successfully synchronised on coal at 05:20 AM on March 07, 2011. During Quarter IV of 2010-2011 this is the second unit synchronised, after the synchronization of Unit-I of Sipat Super Thermal Power Station, Sipat-I (3x660MW) on February 18, 2011.

01-02-2011           In accordance with a Presidential Directive received from Ministry of Power under the Articles of Association of NTPC, a shell company named Pipavav Power Development Company Limited (PPDCL) was incorporated on December 20, 2001 with a view to develop infrastructure of Pipavav Power Project in the state of Gujarat. Further, a Memorandum of Understanding (MOU) was signed by NTPC with Gujarat Power Corporation Ltd (GPCL) and Gujarat Electricity Board (GEB) on February 20, 2004 for development the project in Joint Venture. However, Government of Gujarat subsequently decided to develop the project in association with some other strategic partner. In view of the decision of Govt. of Gujarat, NTPC sought approval of Ministry of Power to wind up PPDCL. Ministry of Power, through its letter dated April 15, 2010, conveyed the approval of Govt. of India to permit NTPC to wind up PPDCL through striking off the name under Section 560 of the Companies Act, 1956. Accordingly, an application for winding up of Pipavav Power Development Company Limited was made to the Office of Registrar of Companies, New Delhi under Section 560 of the Companies Act, 1956. Now, the Registrar of Companies, through its letter dated January 28, 2011 has informed that the name of Pipavav Power Development Company Limited has been struck off from the Register of Registrar of Companies, NCT of Delhi & Haryana pursuant to Section 560 of the Companies Act, 1956 and the said Company stands dissolved.          -

31-01-2011           standalone Results for the quarter ended on 31-DEC-2010 are as follows: Net Sales of Rs. 1342128 lacs for quarter ending on 31-DEC-2010 against Rs. 1118373 lacs for the quarter ending on 31-DEC-2009. Net Profit / (Loss) of Rs. 237148 lacs for the quarter ending on 31-DEC-2010 against Rs. 236498 lacs for the quarter ending on 31-DEC-2009.

31-01-2011           Decided, inter-alia, to pay interim dividend at the rate of 30% (Rs.3.00/- per share) on the face value of paid-up equity shares of Rs.10/- each for the financial year 2010-11. The date of payment / despatch of dividend shall be February 14, 2011.

29-01-2011           "A Joint Venture Company between NTPC Limited (NTPC) and Nuclear Power Corporation of India Limited (NPCIL) has been incorporated on January 27, 2011 under the name "Anushakti Vidhyut Nigam Limited" (Company), NPCIL shall hold 51% of the equity share capital and NTPC shall hold the balance 49% of the equity share capital of the Company. This Company has been formed for the purpose of development of nuclear power project in the country within the framework of Atomic Energy Act, 1962.

27-12-2010           The Unit # 7 of 500 MW of Korba Super Thermal Power Station has been commissioned on December 26, 2010 as per schedule. With this, the total capacity of NTPC group exceeds 33,000 MW. The installed capacity of NTPC group has become 33,194 MW. With the coming of unit#7, the total installed capacity of Korba Super Thermal Power Station has become 2600 MW.

20-12-2010           "NTPC's wholly owned subsidiary NTPC Vidyut Vyapar Nigam Limited (NWN), was appointed as the Nodal Agency, by Ministry of Power (MoP), Government of India, for the Phase - I of the Jawaharlal Nehru National Solar Mission (JNNSM), launched by the Hon'ble Prime Minister of India on 11th January, 2010, with a target for putting into Operation 1000 MW of Grid Connected Solar Power Projects upto 2013. The role of NWN envisages Purchase of Solar Power from Solar Power Developers (SPDs) and bundling the same with equivalent Capacity of Unallocated power from NTPC Coal Stations to be allocated by MoP for Sale to State Utilities / DISCOMs. NWN has conducted Selection and bidding process and has received an overwhelming response. The Board of NVVN in its meeting held on December 17, 2010, approved the proposal for entering PPA with 37 Solar Power Developers for a cumulative Capacity of 620 MW comprising 30 SPDs for 150 MW of Solar PV Projects and 7 SPDs for Solar Thermal Projects of 470 MW Capacity under Phase I, Batch I of the Jawaharlal Nehru National Solar Mission. This is in addition to the already tied up solar capacity of 84 MW under the Migration Scheme of MNRE under JNNSM. The Power Purchase Agreements are expected to be signed before the first anniversary of the launch of the JNNSM."

16-12-2010           "Shri Arup Roy Choudhury, Chairman & Managing Director, NTPC Limited has been conferred 'SCOPE Award for Excellence and Outstanding Contribution to the Public Sector Management - Individual Category 2008-2009. The award was given by Hon'ble Prime Minister, Dr. Manmohan Singh on December 15, 2010 at Vigyan Bhawan, New Delhi."

14-12-2010           "Ministry of Power has allowed 15% of power to be sold outside long term PPA (Power Purchase Agreement) in respect of each of Unit No. 7 of 500MW Korba Super Thermal Power Project and unit No. 6 of 500 MW of Farakka Super Thermal Power Project. The balance power will be sold through PPAs to be entered by NTPC Limited with State Power Utilities. NTPC has also signed a Power Purchase Agreement with West Bengal State Electricity Distribution Company Limited (WBSEDCL) for off-take of power from Katwa Super Thermal Power Project (800 x 2 MW) located at Bardwan District of West Bengal".

01-12-2010           "Pursuant to investment approval of Pakri Barwadih Coal Mining Project (PB CMP), Thiess Minecs India Private Limited has been appointed as Mine Developer cum Operator for Pakri Barwadih Coal Mining Project for a period of 27 years. Peak annual production of the PB CMP will be 15 Million MT". *

01-12-2010           NTPC has signed a Facility Agreement for USD 300 million with Bank of Tokyo-Mistubishi UFJ Ltd. having a door-to-door maturity of 7 years, to part finance the capital expenditure on its ongoing and new projects and renovation and modernization of stations. The Agreement was executed by Sh.A.K.Singhal, Director (Finance) on behalf of NTPC at Singapore on November 30, 2010.

01-12-2010           "NTPC Ltd. had been conferred today with PSU Excellence Award, 2010 in the ''Best Financial Performance'' category by Indian Chamber of Commerce along with Deloitte. The award was given by Honorable Minister of Heavy Industries & Public Enterprises, Shri Vilasrao Deshmukh".  

26-11-2010           The Unit VII of 500 MW of Korba Super Thermal Power Station has been successfully synchronised with grid at 1714 hrs on November 25, 2010.

24-11-2010           A Joint Venture Agreement has been signed on November 24, 2010 between NTPC Limited (NTPC), Asian Development Bank (ADB) and Kyuden International Corporation (Kyushu) to form a Joint Venture Company (JVC) in NCT of Delhi to develop projects and establish over a period of three years a portfolio of about 500 MW of Renewable Power Generation in India. Initially, JVC shall primarily develop wind power and small hydroelectric power projects and in future may also develop other renewable power generation resources. The JVC may develop projects outside India in Developing Member Countries only. NTPC, ADB and Kyushu shall contribute in the ratio 50:25:25 in the equity share capital of the Company. The initial authorised share capital of the Company would be Rs 6.5 Crore and the paid-up share capital would be Rs.1 crore.    

12-11-2010           Has accorded investment approval for Pakri Barwadih Coal Mining Project (15 Million Tonnes Per Annum) at current estimated cost as of 1st Quarter 2010 price level of Rs.3193.86 crore (including Interest During Construction, Financing Charges and Working Capital Margin). Pakri Barwadih coal block is located in Hazaribagh district of Jharkhand State. This coal block was allotted to NTPC on October 11, 2004. Key activities like approval of mining plan, Rehabilitation Action Plan, arrangements for power supply, notifications for land acquisitions under CBA Act have been completed. The activities like payment disbursement for land, CHP award etc are in progress. The Mine would likely to start production during 2012.

01-11-2010           "NTPC Ltd. had executed an MOU with Ministry of Railways on 31st October 2010, for setting up a 1,320 MW (2x660MW) Coal Based Thermal Power Project at Adra in West Bengal through a Joint Venture Company, 100% power generated from the project shall be supplied to the Railways subject to approval by Government of India through a Power Purchase Agreement to be executed between the Railways and the Joint Venture Company".

26-10-2010           Standalone Results for the quarter ended on 30-SEP-2010 as follows: Net Sales of Rs. 1298929 lacs for quarter ending on 30-SEP-2010 against Rs. 1078279 lacs for the quarter ending on 30-SEP-2009. Net Profit / (Loss) of Rs. 210738 lacs for the quarter ending on 30-SEP-2010 against Rs. 215195 lacs for the quarter ending on 30-SEP-2009.                  

25-10-2010           Ntpc Limited has informed the Exchange that the Company had executed an MOU with Govt. Madhya Pradesh and MP Power Trading Company (MP Tradeco) on October 22, 2010, for Setting up 3,960 MW (6X660 MW) Coal Based Thermal Power Project near village Barethi, District Chhatarpur in Madhya Pradesh for the benefit of Bundelkhand region.               

11-10-2010           The first 500MW unit of Indira Gandhi Super Thermal Power Project at Jhajjar of Aravali Power Company Private Limited (APCPL) a JV of NTPC Limited, Haryana Power Generation Corporation Limited, Govt. of Haryana and Indraprastha Power Generation Company, Govt. of Delhi has been successfully synchronised with grid at 2328 hrs on October 10, 2010.

08-10-2010           Has executed a Memorandum of Understanding with Government of Punjab and Punjab State Power Corporation Limited on October 07, 2010 for setting up 2640 MW (4X660MW) coal based Thermal Power Project at Gidarbaha in the State of Punjab. The Project shall be set up as regional power project by NTPC. This shall be the first power project in the State of Punjab by NTPC.

23-09-2010           shareholders of the Company have approved final dividend @ Rs. 0.80 per share for the year ended 2009-10. The total Dividend (including interim dividend of Rs. 3.00 per share) for the financial year 2009-10 is Rs. 3.80 per share (face value of Rs. 10/- each).                

01-09-2010           "An MOU has been signed today i.e. August 30, 2010 between NTPC Limited and Bangladesh Power Development Board (BPDB) on mutual co-operation between the parties for development of Power Sector in Bangladesh. NTPC may set up a 1320 MW coal based power plant in Bangladesh in joint venture with BPDB, subject to techno economic viability, for mitigating the power shortage of Bangladesh. NTPC will also provide training & development to human resources of BPDB and enhancement of productivity and efficiency of their existing power stations".

02-08-2010           NTPC has prepared its Long Term Corporate Plan to set the goals and targets for the period up to 2032. The Corporate Plan has been approved and adopted by NTPC Board in its meeting held on June 21, 2010. NTPC has set for itself a target to have an installed power generating capacity of 1,28,000 MW by the year 2032. The capacity will have a diversified fuel mix comprising 56% coal, 16% gas, 11% nuclear and 17% renewables (including hydro). Therefore, by 2032 non-fossil fuel based generation capacity shall make up nearly 28% of NTPC's portfolio. However, it is clarified that the actual results may vary materially from those expressed or implied in the Corporate Plan due to risks or uncertainties associated therewith depending upon economic conditions, government policies and other incidental factors.               

02-08-2010           "The Unit # 6 of 490 MW of National Capital Thermal Power Project, Dadri has commenced commercial operation w.e.f. 00.00 Hrs of 31.07.2010. With the commercial operation of this unit, the commercial capacity of NCTPP, Dadri is 1820 MW".

30-07-2010           "The Unit # 6 of 490 MW of National Capital Thermal Power Project, Dadri after synchronization on 16.07.2010, has been commissioned on 30.07.2010 at 8:26 Hrs. With this, the total capacity of NTPC group exceeds 32,000 MW. The installed capacity of NTPC group has become 32,194 MW. This was the second unit planned to provide power to Common Wealth Games to be organized in Delhi in October 2010".

26-07-2010           Standalone Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 1294449 lacs for quarter ending on 30-JUN-2010 against Rs. 1200268 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 184189 lacs for the quarter ending on 30-JUN-2010 against Rs. 219362 lacs for the quarter ending on 30-JUN-2009.

06-07-2010           NTPC has signed Production Sharing Contracts (PSCs) on June 30, 2010 with the Govt of India for oil / gas exploration blocks awarded under eighth round of bidding under New Exploration Licensing Policy (NELP-VIII).

20-05-2010           Government of India, Deptt. of Public Enterprises, Ministry of Heavy Industries & Public Enterprises vide Office Memorandum dated May 19, 2010 has conveyed grant of Maharatna status to NTPC apart from three other Central Public Sector Enterprises (CPSES). Since, presently NTPC has requisite number of non-official Directors on its Board, therefore, only NTPC is eligible to exercise delegated Maharatna powers. Consequent upon grant of Maharatna status, the Board of Directors of NTPC shall be, inter-alia, empowered to make equity Investment to establish financial joint ventures and wholly-owned subsidiaries and undertake mergers & acquisitions, in India or abroad, subject to a ceiling of 15% of the net worth, limited to Rs. 5000 crore in one project as against earlier limit of Rs. 1000 crore. The exercise of Maharatna powers would be subject to the same conditions and guidelines as laid down by the Government in respect of Navratna CPSEs from time to time.

17-05-2010           consolidated Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 4825641 lacs for year ending on 31-MAR-2010 against Rs. 4424527 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 883765 lacs for the year ending on 31-MAR-2010 against Rs. 809256 lacs for the year ending on 31-MAR-2009.

17-05-2010           standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 4632259 lacs for year ending on 31-MAR-2010 against Rs. 4192373 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 872820 lacs for the year ending on 31-MAR-2010 against Rs. 820130 lacs for the year ending on 31-MAR-2009.

17-05-2010           standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 1235339 lacs for quarter ending on 31-MAR-2010 against Rs. 1144578 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 201765 lacs for the quarter ending on 31-MAR-2010 against Rs. 211335 lacs for the quarter ending on 31-MAR-2009.

28-04-2010           "A Joint Venture Company between NTPC Limited (NTPC) and Coal India Limited (CIL) has been incorporated on April 27, 2010 under the name "CIL NTPC Urja Private Limited" (Company). NTPC and CIL shall contribute equally in the equity share capital of the Company. The Company has been formed to carry on the business of acquisition in part or full, of green field or operational Coal/Lignite mine blocks in India and abroad and development of all kinds of Coal/Lignite mining for supply of fuels to the Company, NTPC and other buyers".

27-04-2010           "A Joint Venture Agreement has been executed on 27.04.2010 between NTPC Limited and Nuclear Power Corporation of India Limited (NPCIL) for formation of a Public Limited Company to set up nuclear power project with two nuclear reactor units which may be extended to setting-up additional Nuclear Power Projects subject to techno-economic viability. The proposed Joint Venture Company (JVC) will be a subsidiary of NPCIL in which NPCIL shall hold 51% equity and the balance 49% will be held by NTPC Ltd. The core benefit of nuclear power is that it is a reliable, safe and green source of energy and is also seen as an alternative solution to the issues of global warming as well as the rising fuel security crisis".

22-03-2010           "The 500 MW Unit-3 of Kahalgaon Super Thermal Power Project - Stage II (3X500 MW) has commenced commercial operation w.e.f. 00.00 Hrs of March 20, 2010. With the commercial operation of this unit, the commercial capacity of Kahalgaon Super Thermal Power Project is 2340 MW".


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