| 12-Sep-11 |
| Neyveli Lignite Corporation Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from September 03, 2011 to September 12, 2011(both days inclusive) for the purpose of Payment of Dividend & Annual General Meeting (AGM) of the Company to be held on September 12, 2011.
The dividend for the financial year 2010-2011, if approved by the Members at the Annual General Meeting scheduled to be held on September 12, 2011, will be paid on September 23, 2011.
Neyveli Lignite Corporation Limited has informed the Exchange that the dividend for the financial year 2010-2011,if approved by the Members at the Annual General Meeting scheduled to be held on Septmeber 12, 2011, will be paid on September 23, 2011.
(As Per NSE Bulletin Dated on 19/07/2011)
Neyveli Lignite Corporation Ltd has informed BSE that the Members at the 55th Annual General Meeting held on September 12, 2011, have :-
1. Adopted the Balance sheet as at March 31, 2011 and Profit and Loss Account for the year ended on that date together with the reports of he Board of Directors and Auditors thereon.
2. Declared dividend @ 23 % (Rs. 2.30 per share) for the financial year 2010-2011.
3. Re-appointed Shri. R. Kandasamy, Dr. Sanjay Govind Dhande and Shri. J. Mahilselvan who retired by rotation, as Directors of the Company.
4. Appointed Sarvashri. Sarat Kumar Acharya, S. K. Roongta, A. P. V. N.Sarma, L. N. Vijayaraghavan, M. M. Sharma, M. B. N. Rao, V. Muraji, R. K. Mishra and Dr. N. Sundaradevan as Directors of the Company.
The Company has also submitted to BSE a copy of the Chairman's Statement at the 55th Annual General Meeting of the Company held on September 12, 2011.
(As Per BSE Announcement Website dated on 12.09.2011)
Neyveli Lignite Corporation Ltd has informed BSE that the members at the 55th Annual General Meeting (AGM) of the Company held on September 12, 2011, inter alia, have accorded to the following:
1. Adopted the Balance Sheet as at March 31, 2011 and Profit and Loss Account for the year ended on that date together with the reports of the Board of Directors and Auditors thereon.
2. Declared the dividend @ 23 % (Rs.2.30 per share) on the Paid-up Equity Share Capital of Rs. 1677,70,96,000/- of the Company for the financial year ended March 31, 2011.
3. Re-appointed Shri R.Kandasamy, Director, who retires by rotation and being eligible, offering himself for re-appointment, be and is hereby re-appointed as a Director of the Company.'
4. Re-appointed Dr.Sanjay Govind Dhande, as a Director of the Company.
5. Re-appointed Shri J.Mahilselvan, as a Director of the Company.
6. Re-appointed Shri. Sarat Kumar Acharya, as a Director of the Company, liable to retire by rotation.
7. Re-appointed Shri. S.K. Roongta, as a Director of the Company, liable to retire by rotation.
8. Re-appointed Shri. A.P.V.N. Sarma, as a Director of the Company, liable to retire by rotation.
9. Re-appointed Shri. L. N. Vijayaraghavan, as a Director of the Company, liable to retire by rotation.
10. Re-appointed Shri. M.M. Sharma, as a Director of the Company, liable to retire by rotation.
11. Re-appointed Shri. M.B.N. Rao, as a Director of the Company, liable to retire by rotation.
12. Re-appointed Shri. V. Murali, as a Director of the Company, liable to retire by rotation.
13. Re-appointed Shri. R.K. Mishra, as a Director of the Company, liable to retire by rotation.
14. Re-appointed Dr. N. Sundaradevan, as a Director of the Company, liable to retire by rotation.
(As Per BSE Announcement Dated on 12.10.2011) |
| 02-Sep-10 |
| AGM 02/09/2010
Neyveli Lignite Corporation Limited has informed the Exchange that the final dividend for the financial year 2009-2010, if approved by the Members at the Annual General Meeting scheduled to be held on September 02, 2010, will be payable on or after September 09, 2010 but within 30 days of approval by members at the above meeting.
(As Per NSE Bulletin dated on 06.08.2010)
Neyveli Lignite Corporation Ltd has informed BSE that the members at the 54th Annual General Meeting of the Company held on September 02, 2010, have accorded the following;
1. Adopted the Balance sheet as at March 31, 2010 and Profit and Loss Account for the year ended on that date together with the reports of the Board of Directors and Auditors thereon.
2. Declared final dividend @ 10 % (Re.1/- per share) for the financial year 2009-2010.
3. Re-appointed Shri B Surender Mohan who retired by rotation, as Director of the Company.
4. AppoInted Sarvashri Alok Perti, Rajeev Ranjan, R.Kandasamy, K Sekar, Dr.Sanjay Govind Dhande and J. Mahilselvan as Directors of the Company.
Neyveli Lignite Corporation Ltd has submitted BSE a copy of the Chairman Statement at the 54th Annual General Meeting of the Company held on September 02, 2010.
(As Per BSE Announcement Website dated on 02.09.2010)
Neyveli Lignite Corporation Ltd has submitted to BSE a copy of the proceedings of the 54th Annual General Meeting of the Company held on September 02, 2010.
(As Per BSE Announcement Dated on 05.10.2010) |
| 03-Sep-09 |
| Neyveli Lignite Corporation Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from August 22, 2009 to September 03, 2009 (both days inclusive) for the purpose of Annual General Meeting (AGM) of the Company to be held on September 03, 2009.
Neyveli Lignite Corporation Ltd has informed BSE that the members at the 53rd Annual General Meeting (AGM) of the Company held on September 03, 2009, inter alia, have accorded the following:
1. Adopted the Balance sheet as at March 31, 2009 and Profit and Loss Account for the year ended on that date together with the reports of the Board of Directors and Auditors thereon.
2. Declared dividend @ 20% (Rs. 2/- per share) for the financial year 2008-2009.
3. Re-appointed S/Shri. J. N. Prasanna Kumar, Ravindra Sharma, P. K. Choudhury, S. Sadagopan and Dr. Krishna Kumar who retired by rotation, as Directors of the Company.
4. Not-appointed Dr. Rajiv Sharma as a Director of the Company, consequent to the relinquishment of Directorship held by him prior to the date of Annual General Meeting.
(As Per BSE Announcement Dated on 03/09/2009) |
| 02-Sep-08 |
| Neyveli Lignite Corporation Ltd has informed BSE that the Annual General Meeting (AGM) of the Company will be held on September 02, 2008.
Neyveli Lignite Corporation Ltd has informed BSE about the Chairman's Statement at the 52nd Annual General Meeting held on September 02, 2008.(For more details kindly refer www.bseindia.com)
Neyveli Lignite Corporation Ltd has informed BSE that the members at the 52nd Annual General Meeting (AGM) of the Company held on September 02, 2008, inter alia, have accorded to the following:
1. Adopted the Balance sheet as at March 31, 2008 and Profit and Loss Account for the year ended on that date together with the reports of the Board of Directors and Auditors thereon.
2. Declared final dividend @ 10% recommended for the financial year 2007 - 2008 in addition to 10% Interim Dividend already paid to Members, thus aggregating to 20% for the financial year 2007-2008.
3. Re-appointed S/Shri. V Sethuraman, P Babu Rao, Prof. M S Ananth, Y N Apparao and Shashi Kumar retired by rotation, as Directors of the Company.
4. Appointed Dr. S P Seth, Shri. M F Farooqui and Shri. B Surender Mohan as Directors of the Company.
As per BSE Announcement dated on 02/09/2008) |
| 03-Sep-07 |
| Neyveli Lignite Corporation Limited has informed the Exchange that the Annual General
Meeting of the Company will be held on September 3, 2007.
Neyveli Lignite Corporation Ltd has informed BSE about the following:
The Chairman's Statement at the 51st Annual General Meeting of the Company held on September 03, 2007.
"I extend a warm welcome to you all for the 51st Annual General Meeting of your Company.
The Audited Statements of Accounts for the year ended March 31, 2007 together with the Auditors' Report and Comments of the C&AG arid the Directors Report have already been sent to you and with your permission, I take then as read.
Your Company has stepped into the 51st Year and over the years has successfully established itself as a major player in power generation in the Southern Region. Your Company, started with an initial capacity of 3.5 Million Tonnes Per Annum in lignite mining and 250 Mega Watt in power generation, has made capacity additions manifold both in mining and power generation.
Performance in the year 2006-07
Performance Highlights
Physical
- The lignite production for the year 2006-07 was 210.14 Lakh Tonnes (LT) (previous year 204.35 LT) and the power generation was 15786.58 Million Units (MU) (previous year 16242.42 MU).
- The lignite production from Mine-I was 105.48 LI (previous year 102.72 LT). This was the highest production from Mine-I in any year since inception exceeding the installed capacity of 105 LT.
- The lignite production of 38.04 LT from Mine-IA during the year 2005-07 (previous year 37.35 LT) was the highest ever from this Mine since inception, and for the third year in succession, the production exceeded the installed capacity of 30 LT.
- The overburden removal from all the mines for the year 2006-07 was 1280.70 Lakh Cubic Metres (LM3) (previous year 1196.59 LM3) and the highest in any year since inception.
- Thermal Power Station-I Expansion Plant achieved a Plant Load Factor (PLF) of 88.76% which is the highest since inception of this project and the PLF of this station has crossed the 80% mark for the 3rd successive year.
Financial
For the year 2006-07 your Company recorded a Sales turnover of Rs 2108.11 crore (previous year Rs 2201.41 crore). The profit before tax for the year ended March 31, 2007 was Rs 874.66 crore (previous year Rs 987.39 crore) while the net profit after tax was Rs 566.78 crore (previous year Rs 702.35 crore).
The tariff for the generating companies owned or controlled by the Central Government is determined by Central Electricity Regulatory Commission (CERC). As I had mentioned during the last AGM, the sale of power was being accounted at provisional rates, calculated as per the guidelines of Ministry of Coal (MOC) on lignite transfer price for energy charges and the applicable CERC's norms and parameters for capacity charges pending determination of new tariff by CERC.
During the year 2006-07, the Company had received CERC's orders on lignite transfer price and power tariff, for the years from 2001-02 to 2003-04 in respect of TPS-II and accordingly has made necessary adjustments in respect of all the Thermal Stations upto the year 2006-07 in the accounts for the financial year 2006-07. The reduction in the profit before tax was mainly due to adjustment in sales value amounting to Rs 502.15 crore for the years from 2001-02 to 2005-06, as per the above CERC's orders. Further, the reduction in power generation in TPS-II following restricted supply of lignite from Mine-II was also one of the reasons for the reduction in the profit.
As Members may be aware, during the last few years, the Mine-II was facing shortage of mineable land and on account of the same, the lignite production from that mine suffered a set back. However, the issues relating to land are being resolved with the help of the State Government and necessary land for the immediate movement of the mine has been taken over by the Company. Further, necessary follow up action is being taken up with the District Administration for acquiring more land for mining. This will improve the operation of this mine during the current year and the years to come. I am glad to report that your Company registered excellent performance, both in physical and financial fronts, in the last quarter of the financial year 2006-07.
Performance in the Current Year
Your Company kept up its impressive performance in the first quarter of the current year also. Overburden removal from Mine-IA, power generation from TPS-II and total power generation for the Company as a whole, achieved during the first quarter of the current year, were the highest for any quarter since inception.
The lignite production during the first four months ended July 31, 2007 was 74.96 LT (corresponding period in the previous year 65.48 LT), recording an increase of 14.48%. Generation and export of power for the four months of the current financial year were 6499.17 MU and 5545.19 MU respectively as compared to 5266.23 MU and 4447.24 MU respectively recorded during the same period in the last financial year. The Company recorded a PLF of 89% in the first four months of the current year (corresponding period of previous year 72%).
During the current financial year 2007-08, for the four months ended July 31, 2007, your Company has recorded a sales turnover of Rs 1025.11 crore (corresponding period in the previous year Rs 850.78 crore).
The profit before tax for the four months ended July 31, 2007 was Rs 512.59 crore (corresponding period in the previous year Rs 404.73 crore) while the net profit after tax for the said period in the current year is Rs 346.58 crore as compared to Rs 293.22 crore, for the same period in the financial year 2006-07.
Dividend
The Board of Directors of your Company have recommended a dividend of 12% on the paid up equity share capital of Rs 1677.71 crore of the Company, for the financial year 2006-07, involving a cash outflow of Rs 235.55 crore, which includes Distribution Tax on dividend.
Expansion Programme
Your Company has chalked out ambitious expansion plans for adding up its mining as well as power generation capacity. By the end of XII Plan, the lignite mining capacity has been proposed to be expanded to 61.9 MTPA (from 24 MTPA) and the power generation capacity to 11990 MW (from 2490 MW) at present.
The proposed capacity addition will be from projects under implementation and through projects under formulation and I would like to dwelve briefly on these projects.
Projects Under Implementation:
a. Mine-II Expansion (10.5 MTPA to 15.0 MTPA) linked to Thermal Power Station-IT Expansion (1470 MW to 1970 MW)
This mining project, now under implementation at a capital cost of Rs 2161.28 crore, is expected to attain full capacity by June 2009. The first overburden system is expected to be commissioned by December 2007 / January 2008. This lignite mine will be the fuel source for the Thermal Power Station-II Expansion Project, now under implementation at a capital cost of Rs 2030.78 crore.
Erection of major inning equipments is in progress while erection of few of the major equipments have already been completed as per the project schedule. BHEL has been awarded the main plant package for the thermal project and orders have also been placed for other packages. Civil works are in progress for all packages. The first unit is scheduled to be commissioned by February 2009 and the second unit by June 2009.
b. Barsingsar Mine Project (2.1 MTPA) linked to Barsingsar Thermal Power Project (250 MW)
The Barsingsar Mine Project is being implemented by your Company at a capital cost of Rs 254.07 crore. This mine is scheduled to attain full capacity by June 2009. The linked thermal power project which is also under implementation at Barsingsar, at a cost of Rs 1114.18 crore, is progressing well. The first unit of the power plant is expected to be commissioned at the end of December 2008 and the second unit by June 2009.
The overburden removal at Barsingsar Mine Project till July 2007 was 41.65 LM3 against the target of 33.68 LM3. Civil works are in progress in respect of all packages. Turbine structural erection is in progress and lifting of boiler drum for Unit-I has been completed.
Upon commissioning of the above projects, the total lignite mining capacity of your Company would increase from the present 24.0 MTPA to 30.6 MTPA and the power generation capacity from the present 2490 MW to 3240 MW.
New Projects:
The projects under consideration by your Company are as under;
a. Coal based Thermal Power Plant at Tuticorin (2x500 MW)
As Members may be aware, your Company has entered into a Joint Venture Agreement with Tamil Nadu Electricity Board (TNEB) and floated the Joint Venture Company, NLC Tamil Nadu Power Ltd, for setting up of 1000 MW coal based thermal power plant at Tuticorin, in the State of Tamil Nadu, at an estimated cost of about Rs 4909.54 crore, for supply of power to Southern Regional States. The Public Investment Board (PIB) has already considered the project for sanction by Government of India (GOI). Approval of the GOI for the project is expected shortly. The project is expected to be commissioned within 48 months from the date of approval by GOI.
b. Jayamkondam Mine (9 MTPA)-cum-Thermal Power Project (1000 MW)
Your Company has proposed to implement a lignite mine-cum-power project at Jayamkondam in the State of Tamil Nadu at a total estimated cost of Rs 6300 crore. Preparation of Feasibility Report and Environment study for both Mine and Thermal projects are in progress.
C. Barsingsar Thermal Power Project Extension (250 MW) with linked Mine (2.1 MTPA) at Bithnok & Hadla in Rajasthan
Your Company has proposed to set up a Mine-cum-Thermal Power project at Bithnok, at an estimated cost of Rs 1690 crore. Preparation of Mining plan and Mine project Feasibility Report are under process. Draft Feasibility Report for thermal power project, has been received and the same is under consideration. Preparation of feasibility report for Hadla block will be taken up separately in due course.
d. Power Plant (500 MW) with linked Lignite Mine (4.2 MTPA) at Riri in Rajasthan
A power plant and lignite mine at Riri in the State of Rajasthan has also been proposed to be set up by your Company, at an estimated cost of Rs 3060 crore. Detailed exploration is being carried out by Mineral Exploration Corporation Ltd (MECL). Feasibility Report for the mine project is under preparation. After the completion of exploration by MECL, the Feasibility Report for the Thermal Power project will be prepared.
e. Coal based Thermal Power Plant at Orissa (4x500 MW)
A coal based power plant, at an estimated capital cost of Rs 8000 crore has been proposed by your Company, to be set up at Orissa. The coal for this project will be supplied by Mahanadi Coalfields Ltd (MCL). Draft Feasibility Study and Environment Study have been received and the same are under consideration.
A joint Venture Agreement with MCL and Hindalco has been executed for setting up a Joint Venture Company for mining coal from Talabira II & III blocks and your Company's share of coal mined by the JV Company will also be used for power generation.
f. Gujarat Power Project (1000 MW) with linked Lignite Mine (8 MTPA)
Your Company in joint venture with Gujarat Power Corporation Ltd has plans to set up a Mine project in the State of Gujarat, at an estimated cost of Rs 5640 crore Feasibility Reports for the mine and thermal power projects are under preparation.
g. Mine-III (8 MIPA) & Thermal Power Station-III (2x500 MW) at Neyveli
With a view to bring down the lignite mining cost and making the project viable, your Company is exploring alternative liming technology for Mine III. Members may be aware, the US Trade and Development Agency (USTDA) has given a grant of US $ 360,000 for preparation of Feasibility Report for the mining project with alternative mining technology. Preparation of Feasibility Report with alternative mining technology option has been entrusted to a Consultant and the final report is expelled shortly. The Feasibility Report for the Power project will be finalized after firming up the frame work for Feasibility Report for the Mine.
Your Company is also co-ordinating with Northern Coal Fields Ltd, Central Coal Fields Ltd and South Eastern Coal Fields Ltd, the subsidiary Companies of Coal India Ltd, for setting up of coal mine / power projects, as Joint Ventures.
In addition to the above projects planned, your Company also intends to develop Underground Coal Gasification (UCG) projects, in order to tap deep seated as well as the shallow lignite deposits which are not amenable to conventional mining. For this purpose an agreement has been entered into with ONGC and suitable lignite blocks have also been identified for development of this project.
Opportunities & Outlook
The Power Sector is all set to grow at a faster pace with massive capacity additions in the next 10 years. The new and liberalized policy initiatives of the Government of India, are designed to welcome large scale new investments and new combines of entrepreneurship. Your Company has proven experience in lignite mining and power generation and has the required people with expertise to take up new power projects. Developments taking place in the coal and power sector do offer enormous growth opportunities for your Company to spread its wings outside Neyveli and Tamil Nadu. Accordingly your Company has submitted new project proposals, as outlined above, for the XI and XII Five Year Plan periods entailing an investment outlay of about Rs 50,000 crore. All the new projects are expected to have the latest technology, the lowest possible cost structure and the shortest time schedule. With due attention to cost, technology and environment parameters, the time ahead for your Company is promising and rewarding and I am sure, NLC can encash this opportunity.
Industrial Relations
Industrial Relations scenario in the Company for the year was peaceful, cordial and healthy as in the past. This has been achieved by adopting consultative approach, holding bi-partite discussions on various issues with the recognized union and the associations periodically to arrive at amicable settlements with mutual trust and understanding.
Acknowledgement
I take this opportunity to express my sincere thanks to the Ministry of Coal, Government of India, for their continued support in e our endeavors and to the various other Ministries and Departments of Government of India, as well as the Government of Tamil Nadu for extending their support and co-operation.
I also thank State Electricity Boards and DISCOMs and other customers for their continued support. I wish to place on record appreciation for our executives, supervisors and workmen for their hard work and dedication. I also thank associations and recognized union for their whole-hearted co-operation in maintaining good and cordial industrial relations. I express My sincere thanks to my colleagues on the Board for their valuable contribution."
(As Per BSE Announcement Website Dated on 03/09/2007)
Neyveli Lignite Corporation Ltd has informed BSE that the members at the 51st Annual General Meeting (AGM) of the Company held on September 03, 2007, inter alia, have accorded the following:
1. Adopted the Balance Sheet as at March 31, 2007 and Profit and Loss Account for the year ended on that date together with the reports of the Board of Directors and Auditors thereon.
2. Declared dividend @ 12% for the financial year 2006-2007.
3. Re-appointed S/Shri. J N Prasanna Kumar, and A R Ansari, retired by rotation, as Directors of the Company.
4. Appointed Shri. Shaktikanta Das, Prof. M S Ananth, Shri. P Babu Rao, Shri. Y N Apparao, Shri. Shashi Kumar, Dr. Krishna Kumar, Shri. Ravindra Sharma, Shri. S Rammohan, Shri. P K Choudhury and Prof. S Sadagopan as Directors, liable to retire by rotation.
(As Per BSE Announcement Website Dated on 05/09/2007) |