August 3, 2024
AGM transcript 15112024
Reliance Power Limited
30th Annual General Meeting
Saturday, August 03, 2024
Reliance Power Limited
AGM Transcript
Moderator-
Good afternoon. This is your moderator Praveen Chaturvedi from KFin Technologies Limited.
It's twelve noon the quorum is present. The proceedings can be began. Over to you, sir.
Mr. Sateesh Seth-
Dear shareholders, good afternoon, everyone. It is twelve noon and the time has come to commence our meeting. I extend a warm welcome to all of you to the 30th Annual General
Meeting (AGM) of our Company. I confirm that the requisite quorum is present, and I hereby call this meeting to order.
Joining me from the Board on my left-hand side are Smt. Chhaya Virani, Smt Manjari Kacker on my right, Shri Ashok Ramaswamy, Shri Punit Garg, two of my board members, Shri K. Raja
Gopal is attending through video conferencing and Shri Vijay Kumar Sharma also attending from through video conferencing. Key management personnel, statutory auditors and secretarial auditors are also in attendance today.
This meeting is conducted through audio visual means in accordance with the provisions of the Companies Act, 2013 and circulars issued by the Ministry of Corporate Affairs (MCA) and
The Securities and Exchange Board of India (SEBI). Please note that for this meeting, provisions regarding the appointment of proxies are not applicable. All registers, documents and records required by law are available for inspection. The notice of annual general meeting, along with the annual report for the financial year 2023-24, has been duly circulated via email in compliance with MCA and SEBI circulars. It is also accessible on the Company's website,
Stock Exchanges and our Registrar and Share Transfer Agent, KFin Technologies Limited.
Detailed instructions for attending the AGM and e voting procedures are provided in the notice.
The Company has facilitated remote e voting for its members from 10:00 A.M. on Tuesday,
July 30, 2024 to 05:00 P.M. on Friday, August 2, 2024. Voting is now open for members present at this meeting who have not yet cast their votes. Voting will close 15 minutes after all business items have been transacted. Resolutions as per the notice convening this AGM, have already been put to vote through remote e voting. Therefore, there is no need to propose or second these resolutions during the meeting.
The Board has appointed Shri Anil Lohia and, in his absence, Shri Khushit Jain, partners of
M/s. Dayal and Lohia, Chartered Accountants, as the scrutinizer to scrutinize the e voting process. The results of the voting will be declared and published on the Company's website,
Stock Exchanges and the KFintech platform within two working days of the conclusion of this annual general meeting. At this moment, I would like to invite our Company Secretary to read out the relevant portions of the Auditor's Report.
Reliance Power Limited
AGM Transcript
Mrs. Ramandeep Kaur-
Good afternoon board members and dear shareholders. The details of audit qualification on consolidated financial results. We draw your attention to note number 39 of the consolidated financial statements, which sets out the fact that Vidarbha Industries Power Limited, i.e. VIPL, has incurred operating losses during the year ended March 31, 2024 as well as during the previous years. Its current liabilities exceed current assets. Power purchase agreement with
Adani Electricity Mumbai Limited stands terminated, with effect from December 16, 2019, its plant remaining unoperational since January 15, 2019, loans being recalled and certain lenders have filed an application under the provision of Insolvency and Bankruptcy Code and
Debt Recovery Tribunal. Further, certain covenants of VIPL loan agreement are not complied by VIPL and parent company. These events and conditions indicate material uncertainty exists that may cast a significant doubt on the ability of VIPL to continue as a going concern.
However, the accounts of VIPL have been prepared on going concern for the factors stated in the aforesaid note. We however are unable to obtain sufficient and appropriate audit evidence regarding management's use of the going concern assumption in the preparation of financial statements of VIPL. Members are requested to refer the management comments which form the part of impact of audit qualifications in the annual report on page number 226 and 227.
Thank You.
Mr. Sateesh Seth-
Thank you Ramandeep. Dear Shareholders, it gives me immense pleasure to welcome you all to the 30th Annual General Meeting of Reliance Power Limited.
The Company has established a robust portfolio of power projects and coal mines. As of now, projects aggregating to approximately 5,900 megawatts are commissioned, with others progressing through various developmental stages.
Now, let us delve into the key business highlights for the financial year 2023- 24. India's ambition to become the world's third largest economy with a target GDP of US Dollar Five
Trillion necessitates continuous power supply the Government of India has decided to aid new coal based thermal power capacity of 80,000 megawatt by 2031- 32 to meet the increasing power demand in the country. Further, India has ambitious target for energy transition and plans to have 500 gigawatt that is five lakh megawatts of non-fossil based installed capacity by 2030.
Current state of the business, the Sasan ultra mega power plant boasting a capacity of 3,960 megawatt achieved remarkable operational efficiency with a 93.5% plant load factor and generated 32,530 million units or 3,253 crore units of power during the year, surpassing the national average PLF of approximately 69%. During the year, Moher and Moher Amlohri extension captive coal mines reached 18.28 million metric tons i.e.1.83 crore tons of coal production. Sasan coal mine handled a total volume of 77.8 million cubic meters i.e. 7.78 crore of cubic meters including overburden removal of 65.6 million cubic meters i.e. 6.56 crores of cubic meter.
Reliance Power Limited
AGM Transcript
The Rosa thermal power plant with a capacity of 1,200 megawatt, consistently delivered with a total generation of 7,600 million units i.e. 761 crore units. Additionally, Rosa Power garnered prestigious award for its operational excellence and innovation. The solar photovoltaic PV and concentrated solar power plants collectively contributed 94.96 million units of clean energy i.e. nearly ten crore units.
The Butibori power project, however, with a capacity of 600 megawatt, faced operational challenges throughout the year. The Company is actively working on a resolution plan to address the current situation.
Reliance Bangladesh LNG and Power Limited progressed well in establishing 718 megawatt power plant near Dhaka. This project is being executed together with strategic partner Jera
Power International, a subsidiary of Jera Company of Japan. The temporary gas pipeline connection was completed in February 2024 and the project is slated for commercial operations by December 2024.
Increased focus on environment, social and governance parameters the Company intensified its commitment to the environment, social and governance tenders, aligning with global norms and focusing on sustainability across its operations.
Going forward, Reliance Power Limited remains committed to maintaining high levels of operational excellence and will actively explore opportunities for expanding its business operations. Debt reduction, Reliance Power Limited continued its steadfast debt reduction strategy, successfully lowering debt by Rs 2,401 crore during the year, resulting in a debt equity ratio of approximately 1.6 to one time as compared to the last year 1.8 to one time to conclude, our engagement in the power sector plays a pivotal role in India's advancement, reinforcing our duty to contribute to the country's growth.
India is ripe with potential and our Company is ideally situated to seize these opportunities at this opportune moment. With your continued support, our dedicated leadership and professionals remain committed to creating long term value for all stakeholders.
Now, I invite the members to seek clarifications, if any, and offer their comments. I kindly request members to confine their comments to three minutes and to the business items outlined in the notice. Please refrain from repeating points raised by other members. I will be taking notes of all the queries raised and I'll ensure that I satisfactorily respond to each of the queries and therefore a sincere request that do not repeat the same point which other members have raised. Thank you, please moderator, please invite the members.
Moderator-
Thank you, sir. We are inviting all the speaker shareholders one by one. Request all other shared speakers to kindly remain on mute and wait for their turn. Our first speaker is Saurabh
Jain. May I request Mr. Saurabh Jain to kindly unmute yourself, switch on your camera and speak. May I request Mr. Saurabh Jain, may I request Mr. Saurabh Jain, Mr. Saurabh Jain,
Reliance Power Limited
AGM Transcript
Mr. Saurabh Jain, Mr. Saurabh Jain, can you hear me? Sorry sir. We are moving to our next speaker, Mr. Praveen Kumar Rai. May I request Mr. Praveen Kumar Rai to kindly unmute yourself, switch on a camera and speak.
Mr. Praveen Kumar Rai- Yeah. Am I audible?
Moderator-Yes sir, you are audible. Please go ahead. Thank you.
Mr. Praveen Kumar Rai-
Good afternoon. Good afternoon, all. To all the respected board members and Chairman sir, and thank you for giving me this opportunity to speak in the AGM. First of all, I want to congratulate the entire R Power team for an outstanding work done in this last financial year.
The Company has reduced, sir, 400 crores of debt on standalone basis and 2,400 crore that were reduced and paid on consolidated basis, to banks and financial institution. So, congratulations to the entire team and the employees. My question is what is the position of the total debt on consolidated basis?
And second question is a little bit suggestion, also in IBC, sir. So many good opportunities are available at very attractive valuation, is our Company planning to acquire some of the assets and what is our organic growth strategy for the Company in the near future?
And what is the position of our Bangladesh power project because it was supposed to be started in the month of May only, and when can we expect it to be operational?
And one concern, after reading the annual report due to so many restrictions imposed by the
Environment Protection Act and Rules, 2015 and rules framed by the Ministry of Environment in the year 2018, are so many restrictions are being imposed, and stricter carbon emission standards are going to be imposed on our thermal capacity. So, sir, is there any threat to our thermal capacity? Because everyone is talking about green energy only, and as per discussion in annual report, banks and financial institutions are shying away from future financial help and capex because they are not financing the extra capex required to obey these emissions.
So, is there any quantifiable threat to our Company specifically to the thermal plant?
And my last question is what is our plan for growth of our green energy portfolio?
And one more little bit question related with future planning of the Company, maybe it can be considered as a suggestion also, is there any future plan for collaborating with oil retail stations like petrol pump for establishing EV charging stations? Because future is electrical vehicles, and so many companies have already started doing this. And I can name Tata Power. They have started one year back, and they have collaborated with Bharat Petroleum and Hindustan
Petroleum. So, are we also planning to do these kinds of things in future? And if yes, please elaborate.
Reliance Power Limited
AGM Transcript
And thank you for giving me opportunity to speak in the AGM. Thanks a lot. Thank you very much.
Moderator- May I request Mr Saurabh Jain to kindly unmute yourself, switch on your camera and speak. Mr. Saurabh Jain.
Mr. Saurabh Jain- Hello, Do I am audible?
Moderator-Yes, sir, you are audible. Please go ahead.
Mr Saurabh Jain- Good afternoon, Chairman. There were some connectivity issues earlier; apologies for that. And I'm Saurabh Jain from Delhi.
I appreciate the opportunity to share my thoughts at this year's annual general meeting of one of the nation's leading power companies. As a shareholder, I witnessed the Company's journey through various challenges and successes. We've seen our investment value plummet as low as rupee one and during difficult times. But unlike other companies in the industry that struggle to even stay afloat, ours has made a remarkable recovery. And I'm pleased to note that the
Company is now debt free and investment value has significantly appreciated. With the stock price exceeding rupees 34, appreciation of whooping 34 times which no other stressed company has been able to achieve in such a short time. I'd like to extend my congratulations to the leadership team, especially Mr Sateesh Seth, for his exceptional guidance.
I would request if some light can be thrown on our growth trajectory and whether we have any plans to venture into the tap into and tap the immense potential of renewable energy. I am confident that the Company is poised for continued growth and success.
Lastly, we shareholders dearly miss our beloved Mr. Anil Amani and wish that he will join the board sooner than later. And what can be better if youthful energy of Anmol and Anshul Ambani can also join and stand in the board.
I support all the proposed resolutions and wish the Company all the best for the future. Thank you.
Moderator- Thank you, sir. Our next speaker is Mr. Prakash Kothari. May I request Mr.
Prakash Kothari to kindly unmute yourself, switch on your camera and speak. Over to you Mr.
Prakash Kothari. Mr. Prakash Kothari. Sorry sir, we are not getting any input from Prakash ji.
So, we are moving to our next speaker, Mr. Kamal Kishore Jhawar. May I request Mr Kamal
Kishore Jhawar to kindly unmute yourself, switch on your camera and speak.
Reliance Power Limited
AGM Transcript
Mr Kamal Kishore Jhawar- Hello mera awaz aa raha hai sir
Moderator- Ji aa rahaa hai
Mr Kamal Kishore Jhawar- hello
Moderator- Ji aa raha hai
Mr Kamal Kishore Jhawar-
Ok Thank You. Thank You Praveeṇ Sahab. Chairman sir, all Directors ko mera Namaskar. Sir aaj ye meeting mein yeh video conference hone se, hum meeting attend kar sakte hai. Isi tarah video conference rakhiye, Kamal Kishore from Hyderabad.
Mein sahab, yeh Company mein jab se IPO hai, tab se shareholder hoon, par aaj yeh
Company teen chaar saal se Anil Ambani Ji jo achha achha improvement karte hue leke jaa rahe hai, toh humko bahut badi khushi hai. Aage humara future hai, woh purane din aap shareholder ko yaad aa jayenge, jaisa apna ek ṭime pe share ₹2 ₹3 aa gaya tha, abhi ₹34 ka rate hai. Jab 34 aa gaya to aagey 340 bhi aa jayega next AGM tak. Humare ko confidence hai. Aur every quarter mein aap ka ṭurnover, profit badhte jaa raha hai or isi tarah mein bhagwan se prarathna karta hoon, jo aaj Reliance, hai woh vapas chale, Anil Ambani Ji ka chamakega ek din, bahut chamakega next AGM tak.
Aur isi tarah video conference rakhiye, sir. Aur sir, aapka Secretarial Department ka service bahut achha hai, time se phele humko information bhi mil gaya, aur phone karke bhi humse pucha, “Kuch bhi query hai kya?” Unka service bahut achha hai, sir.
Aur lastly, humare KFin ka service bahut excellent hai, Sahab. KFin mein humare ko kabhi bhi kuch problem nahi hai. Aaj KFin badal chuka hai, fast to fast service hai, bahut number one hai. Aur humare Praveen sahab jo moderator hai unka bhi service bahut achha hai, Sahab.
Jitna bhi zyaada KFin ke bare mein tareef kare utna kum hai. Aaj KFin ka number one service ho gaya hai. Aur jate hue sab Ḍirector ko, Chairman ko mein deepavali, dusherra ki shubh kamnayien deta hoon, sir. Aur aage jo apna AGM, apna Company, apna share price har cheez badhe, thank you.
Moderator- Thank you sir. Our next speaker is Mr. Santosh Kumar Saraf. May I request
Santosh Kumar Saraf to kindly unmute yourself. Switch on your camera and speak.
Mr. Santosh Kumar Saraf. Sorry.
Mr. Santosh Kumar Saraf- Hello
Reliance Power Limited
AGM Transcript
Moderator- Yes Sir, please go ahead.
Mr. Santosh Kumar Saraf-
Mananiya Sabhapati ji, upasthit nirdeshak manḍal ke sadasyagaṇ, adhikarigaṇ aur karamchari gaṇ, mein Santosh Kumar Saraf, Kolkata se, aap sabhi ko ram ram kehta hoon.
Asha karta hoon aap sab is samay svasth mein honge, sir.
Sir, aapne jis hisab se kaam kiya, aur Company ko revival karne ki koshish kar rahe hai, yeh bahut saraahaniya hai, sir. Sir, iske bare mein kya kahun, itni down hone ke baad bhi Company itna acha revival kar rahi hai, jiski humein kum hi asha thi. Sir, mein apna camera on nahi kar sakta hoon, kyonki mobile mein line mili hai mere ko. Agar mein share karunga, toh ho sakta hai yeh line cut jaaye. Mera mobile charging pe hai, isilye video on nahi kar sakta, aapko audio mein bol raha hoon sir.
Aur sir, hum jitne bhi karamchari, bhai behen kaam kar rahe hai, unka aabhar prakat karta hoon. Aur unki family ka bhi aabhar prakat karta hoon, jo unko svasth rakhne mein aur aage badha rahe hai, sir. Sir, mein asha karta hoon ki karamchari isi tarah kaam karenge, aur humari Company, jo ek zamane mein achhi thi, dubara usi gaurav ko prapt honge, sir.
Sir, management pe atmapurṇ vishwaas hai mere ko ki aap bahut jaldi Company ko vapas usi category mein layenge, jis category mein thay. Aise toh humari Company mein kaiyon ki buri nazar hai, Adani ki buri nazar hai, aur kaiyon ki buri nazar hai. Lekin bhagwan se hume asha hai ki unki buri nazar se humein bachaenge. Aap logon ki mehanat kaam layegi. Humare karamchari aur unke family ki duaein kaam aayegi, sir.
Zyada samay nahin lunga, sir. Video conference continue rakhiyega. Iss se kya hai ki hum log apne dil ki baat, apne karamchari ka aabhar ki baat kar sakte hai, sir.
Aur sir, ek aap capex plan future mein kya hai? Aur kab tak dividend lisṭ aap estimate karte hai? Abhi toh nahi aayegi saal, 2 saal, 4 saal kab tak aapka plan hai? Dividend mil jayega, kyunki humare jaisa shareholder hai na sir, unko dividend hi main sahara hai.
Ek baar jitne bhi karamchariyon, bhai, behen, jitne bhi Directors ko financial year 2024-25 ki subhkamnayein deta hoon. Aur bhagwan se prarthana karta hoon, 2024-2025 humare
Directors, humare karamchari aur unki family ke liye shubh ho. Aur sab healthy, wealthy, prosperity ho.
Aur sir KFin ka platform kafi achha hai. Mein asha karta hoon bhavishay mein bhi isi platform pe video conference arrange kare. Video conferencing zarur rakhiye, jis se Mumbai ke bahar
Reliance Power Limited
AGM Transcript se log meeting attend kar sake. Mein kolkatta se baat kar raha hu aur apne karamchari ke prati apni bhavna prakaṭ kar sakte hai.
Jai Hind Jai Bharat. Namaskar, samay dena ke liye.
Moderator- Thank you sir. The next speaker is Asha Jain ji. May I request Asha Jain ji to kindly unmute yourself switch on your camera and speak. Asha ji.
Mrs. Asha Jain-
Good afternoon, Chairman and Board members. I'm Asha Jain, a proud shareholder of
Reliance Power. I'm thrilled to see our Company emerge stronger from the challenging times.
This is a testament to the leadership's vision and expertise. With the Indian government's thrust on the sustainable energy, I see immense potential for our Company to leverage its expertise and contribute to the nation's energy transition.
As we all know, climate change and global warming are some pressing issues that require immediate attention. I believe Reliance Power can play a vital role in mitigating carbon emissions and promoting clean energy solutions. By investing in the renewable energy sources and adopting sustainable practices, we can significantly reduce our carbon footprint and help combat the global warming.
I am excited about the future prospects of Reliance Power, particularly in the areas of solar, wind and energy storage. I believe our Company can also play a significant role in promoting energy efficiency and sustainability, which definitely align with the United Nations Sustainable
Development Goals.
I also hope to see the Ambani family's next generation bring their fresh perspective to the
Board driving innovation and growth in the sustainable energy space.
I support all the proposed resolutions and would like to wish Reliance Power continued success in its journey towards a sustainable energy future contributing to a cleaner, greener and more sustainable world for the generations to come. Thank you.
Moderator- Thank you ma'am. Our next speaker is Mr Gautam Kedar Prasad Tiwari. May I request Mr Gautam Kedar Prasad Tiwari to kindly unmute yourself and speak. Over to you
Kedar ji. Gautam ji, unmute yourself. Gautam ji, kindly unmute yourself.
Mr Gautam Kedar Prasad Tiwari- You can listen to me now?
Moderator- Yes sir, we can listen to you. Thank you.
Reliance Power Limited
AGM Transcript
Mr Gautam Kedar Prasad Tiwari- Yes, can you see me sir?
Moderator- Yes sir, we can see you sir. Please go ahead.
Mr Gautam Kedar Prasad Tiwari- Thank you very much sir. Thank you very much. I was reading the prompt of that unmuting Sir, thank you very much sir. Dear sir, first of all, very good morning to our Chairperson, eminent dignified Board of Directors, our team Ramandeep Mam and all the shareholders, All Board of Directors and I'm speaking from Mumbai. I'm participating from Mumbai. Sir, you can listen to me now?
Moderator- Yes sir, we can listen to you. Please continue.
Mr Gautam Kedar Prasad Tiwari-
Dear Sir, I received Annual Report and balance sheet in time. Annual Report is transparent, showing all with all national figures in place and adhering to all corporate the non-profit corporate governance. Sir investor care units and diversity and Ramandeep Mam have high calibre and respective all shareholders our calls are readily answered and issues and queries are resolved even by KFintech also and by our department also our secretarial department also very satisfactory present day and quality.
Sir, I'm shareholder from day one of this Reliance group, and also I'm seeing and the best services from this Reliance group, Sir even the technical team is very, very good, reporters response is very good, KFintech is very good. I really thanks to our management for choosing such a dedicated noble service providers for the benefit of shareholders always and all the time.
Sir, coming to the Company I am very happy that our Company is now growing, the prices have shot up and I am very clear in the short time the Company will progress very much in the days and shareholders get rewarded as well.
Sir, we all wanted to know as to when will Anil Ambani will be appointed and will come back on the Board of Directors in the Company? Sir, as all of us have tremendous trust and confidence about his business activity about his understanding, about his business and so we have that the leadership team he have built by his calibre and his legacy and very efficiently and so we are anxiously waiting to see them. To see the back the backlog of being appointed on Anil Ambani Board.
Sir, please tell our strong feelings and remember and compliment to Shri Anil Bhai Ambani and Neeta and Tina Bhabhi and vandan to mataji to Kokila ben and Ajay and Anmol Ambani.
Reliance Power Limited
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Sir, small queries which I got in my mind are that we have our gas project at Samalkot, now when the operation of this project will start, sir? Secondly, sir, we are doing at - which is sort of and if at all we are thinking it how are we getting it filled and what stage, what state our company is taking to fulfil goal shortly? Sir, is coal available sufficiently for our Sasan MP and at Sharanpur, UP. Third, do we have any plans to acquire coal mine? And four, how do we fulfil our shortage of coal as I have asked if any for our coal based projects?
Sir, continually I would like to say that I support all resolutions and have already looked for each and every resolution in advance. Sir, once again we congrats and want appointment of
Anil Ambani on Board of the Company as a chairman of our company so that the Company will start again swiftly, sir and because you were formed by AniI Ambani Sir.
I support all directors and managers on board on which they all and best efforts in their efforts.
Sir, I also pray for each member of the Board and all the Company, employees and all those companies and all shareholders we will long life ahead for each of the year we gave from the
Company and greeting for the upcoming festivals in future.
Isi ke saath dhanyawad Thank you very much שׁלּשּ it was a great salute to you. Thank you.
Moderator- Thank you sir. Our next speaker is Mr Suresh Chand Jain. May I request Mr
Suresh Chand Jain to kindly unmute yourself, switch on your camera and speak. Over to you.
Suresh ji
Mr. Suresh Chand Jain- Hello awaaz aa raha hai sir
Moderator- ji aa raha hai
Mr. Suresh Chand Jain-
Aadarniya Chairman Sir, upasthit sabhi Directorgan, aur shareholḍer saathiyon, sir, mein
Reliance company ka, pure companiya, Reliance ki jitne bhi hai, is parivar ki pure companiyo mein shareholder hoon. Aur mujhe purn vishwaas hai, ki aap aage ki taraf Company ko leke jaa rahe hai. Ek ṭime pe, aap se Anil ji hakikat mein mane to aap ke upar se bharosa uṭh gaya tha. Phir aap, aap ki jo kadi mehanat aur lagan se, aap jo aage badhe, bharosa firse hume aa gaya hai. Kyonki mein humare paas kam se kam humare Dadaji, kam se kam navas baras ke upar ki baat kar raha hoon, woh log Tata aur Birla ke share kharidte thay, aur humare pitaji
Infosys aur software ki bahut si companies ke uske ander bharosa tha, aur mujhe Reliance aur Adani ke andar mujhe pura purn vishwaas hai.
Reliance Power Limited
AGM Transcript
Sir, agar sir, aap kadi mehanat aur lagan se, aap jis prakar aap aage badh rahe hai, hum bhagawan se yahi prarthana karte hai, aap din dugni raat chaugni taraki karte rahe. Aap aage ki taraf badhe, aur humein purn vishwaas ek baar Company, company ye aage ke taraf badhate hue aage ki taraf jayegi. Aur sir, mujhe, mujhe iske andar problem aa gaya tha. Maine
KFin walon ko phone kiya, ki mujhe awaaz nahin aa rahi hai, kya karaṇ hai. Unhone, jab ka jab bhi hume 2 minute ke andar link diya, aur hume saaf saaf awaaz aa rahi thi. Aap ke vichaar aur aapke Company ki roop rekha jankar mujhe badi prasanta ho rahi hai.
Sir, mein chaunga, ki aap isi prakar aage badhte rahe aur vaapis bharosa kayam kare, sir.
Aur aapne jo bolne kaa subh avsar diya, uske liye aapke team ko ṭahey dil se aapko dhanyavaad dete hue aur KFin walon ko dhanyavaad dete hue, mein apney vicharon ko viram deta hoon. Aur phir se bhagwan se yahi prarthana karta hoon, aap din duni, raat chaugni aage ki taraf badhe. Anil ji, mujhe ek baat kahana hai, aapke pitaji ki tasvir aapke pichhe lagi hui hai, kam se kam ek mala agar aap ḍaal dete toh humein badi khushi aur prasanta hoti. Aapka bahut bahut dhanyavaad ke saath mein apne vichaaron ko viram deta hoon.
Moderator- Thank you sir. Our next speaker is Mr. Anup Kumar Sushil Sheth. May I request
Mr. Anup Kumar Sushil Sheth to kindly unmute yourself and speak. Anup ji.
Mr. Anup Kumar Sushil Seth- Yeah. Can you see me, sir, can you hear me?
Moderator- Yes sir, we can hear you. Thank you.
Mr. Anup Kumar Sushil Sheth-
Good afternoon. I am Anup Sheth from Bombay. I have been a shareholder since the inception, and in all Anil Ambani groups. Coming to our Board, I congratulate the Board and independent directors for this performance in spite of adverse situation. I also support the reappointment of Shri Sateesh Seth, who has been our Director since ages in Reliance Energy
BSES, and he has been the, you know, person who has held on to the Company and who has helped the Company. I also mentioned my appreciation for Shri Punit Garg, who is the director and our CEO. He has like a stalwart, like Bhisma Pitamaa; and he is a silent person, but his strength has enabled the Company to come way forward.
Now, sir, coming to the performance and certain questions I have, most of it have been raised.
I appreciate that you are raising foreign convert, foreign currency convertible bonds. So, what will be the value of this bond? Have you envisaged anything? Is there anything in the pipeline to that effect that you want to place with someone, or our negotiations on what will be the size of the issue, what is the requirement at least in the immediate near future, and if at all it will be convertible at what rate? What is the mechanism of adopting rate for the conversion of the shares in future?
Reliance Power Limited
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I also appreciate that you have been allotting QIPs and how many have been allotted so far?
I would like to know, and the value thereof, and the denomination. What? At what rate of premium? I also read that you have made allotment of preference shares of 7.60 crore equity share. That's a huge increase in our cap and that a premium of 20, i.e., 10 plus Rs.10. It's very good that investors are showing confidence in the market cap and the value of our Company, inherent value.
Also, you have issued 20.58 crore shares on equity also at a premium, so it is very good to see that. You have said that almost 240 crores have been brought in by way of infusion of capital, interest free capital. Then I also read that you have settled many dues of Axis Bank and some other debtors’, some other creditors. So, it is heartening to note that, in spite of this situation, naturally, you will not be able to show profits when you are making yourself debt free, so, what will be our consolidated debt position as of 31st March?
My other question is position of our plant, our plants mostly one which is located in MP, our
Sasan power plant. What is the capacity, and whether what is the availability of coal? And another is Rosa, which is in Uttar Pradesh. So, what is the position of the functioning and whether we are getting our sale proceeds properly? That is something I would like to know, sir.
There was ours. There has been our Butibori power plant which is having some legal problems or some such economic problems. So, what is the situation now and has the matter been resolved? Having said that, I support all the resolutions and have a good day. Bye. Thank you.
Moderator- Thank you, sir. Our next speaker is Mr. Nand Kishore Shankar Rao Kashikar ji.
May I request Nand Kishore ji to kindly unmute yourself and speak. Over to you.
Mr. Nand Kishore Shankar Rao Kashikar- Hello.
Moderator- Yes sir. Your voice is clear sir.
Mr. Nand Kishore Shankar Rao Kashikar- Voice is clear. Thank you. Hello.
Moderator- Yes sir. Yes sir. Please go ahead.
Mr. Nand Kishore Shankar Rao Kashikar-
Now, let me start with congratulating all the board of directors for their excellent corporate governance. And the legacy which the Ambani’s have given, is continuing. And our shares in
March 23 were 13, and now in March 24, it is 28, means nearly double. People, the
Reliance Power Limited
AGM Transcript shareholders, are showing the confidence. The annual report shows the progress, so congratulations for that.
Secondly, I support all the resolutions. Our total income 10,963 net 4,895. The figures are promising positive, but the dividend is not recommended. Of course, that is the reasons and the explanation is given on the website. But you have now progressing, so it can be considered about the dividend also. I would like to know, what has happened about the writ petition which is pending in the New Delhi Honourable High Court?
Then after, I would like to know, what is the status of Indonesia's coal mines though concessions are given? What is the status of it? Then, I would congratulate for the healthy environment and the HSE and CSR. Especially for that, Madam Chhaya Virani ji and
Ramaswami ji and other two directors, you have done excellent CSR activities. The projects which are done.
I would like to know, what is the expansion plan of our Reliance Power? Now, I think almost we are debt free, so we are galloping, we are going towards the new heights of profits. So, I would like to know. I would like to know what is the position status? I would request Chairman to throw some light on it.
And coming to Sasan project, the plant load factor (PLF) is 93.5% whereas India's average is just 69%. Congratulations! Then, about the Rosa, which is supplying the electricity to UP government and making the UP industrially viable, many hubs are coming up in UP. So altogether in India's progress, our Company is contributing. Till that 1,200 MW's capacity is there. We are, ours is 12th successive year which has shown the progress. We have generated 7,609 MUs, and that is being sold to UP government. So overall, I find that we are on positive steps towards the progress.
I would like to know, what you are going. What are your further plans, by which again we can bounce back and come and show Reliance Power? Because power is the main factor for any industrial growth and Reliance legacy is to contribute for India's progress. So, where is our companies, what are new plans? What we all shareholders and thousands of Indian citizens thank the Board. Excellent, professional, brilliant Board!
And again, here also I would say ki if Ambani ji ka karishma, unke family ka koi ek member ko agar include kar sake, agar Ambani sahab aa sake, the representation is going on, the restrictions, I am aware of it. But till the time, their sons or wife Tina ji, if can be included, I think that will give a more energy, more strength and more confidence. Of course, this Board has shown the progress, so we have the full confidence. And I congratulate each Board of
Director. You are getting the energy from Ambani family. I congratulate all the management and each staff. Definitely.
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And with the green energy, what other precautions, extra precautions which you are taking?
Because last employee and Topiest, we are very much concerned about the energy and clean green energy. However, because the emission rules and other these things which has come so definitely, we are complying with it. But have we received any restrictions on one of our projects, and the project, which my previous speaker Anup Ji has said. One plant, which is stuck in the legal, what is their time period, when we will come out of it, or what are the remedies, which we are taking steps, we are taking?
Once again I say “aage badho, aap khasmata rakhte ho, naam hai aap ka, kaam hai aap ka.
Zarur kamayabi ki bulandiyan aap prapt karoge. Aur humein aur pure Reliance kuṭumb ko gaurvanvit karoge, aur dividend bhi doge, aur Company ke share aise hi badhte rahein, kyonki humne jo shareholding rakha hai itne saal se vishwas hai uska ab dheere dheere badh raha hai. Jaise maine bataya ki aaj 28 hai March 24 ko, toh aisa hi badhte rahe aur aap pragati karein. Aur jo binduon pe maine queries puchi hai, uske bare mein thoda sa roshni ḍaale toh aap ki badi meherbani hogi.” Dhanyavad and Thank you very much.
Moderator- Thank you sir. Our next speaker is Mr. Prakash Chand Kothari. May I request Mr.
Prakash Kothari to kindly unmute yourself Switch on your camera and speak Mr. Prakash
Kothari. please unmute yourself, Prakash ji, unmute yourself. I can see you but you have to unmute yourself.
Mr. Prakash Chand Kothari- Hello. Hello sir.
Moderator- aawaz aa rahi hai, aawaz aa rahi hai anḍ aapko dekh bhi sakte hai please continue.
Mr. Prakash Chand Kothari-
Thank you sir, thank you. Udyog jagat ke betaj badshah Seth Dhirubhai Ambani, Seṭhani
Kokilaben Ambani ko mera vandan. The great industrialist Shri Anil Dhirubhai Ambani, aur humari medical field ki India ki ṭop NGO Tina maḍam Ambani, dono prince, sabhi ko mera vandan.
The Board of Directors, aaj mere ḍias pe baithi hui Board of Directors ko dekh ke, 30 (tees) saal ke baad jo Reliance Power aage badh rahi hai, isliye mein dil se abhinandan karna chahata hun. 30 (Tees) saal pehle sir, Reliance Power pura Asia ke andar hungama macha diya tha IPO ne, aur aaj yahi company ko ḍubne ko jaa rahi thi, tab yeh humare Board of
Directors ne usko bahar nikal ke ek aasman ki aur dheere dheere hume le ja rahe hain, isliye mein mera Board of Directors ko bahut hi dhanyavad dunga.
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Sateesh Sheth sir, Ashok Ramaswamy sir, Chhaya Viraani, Manjari Ashok Kacker, Vijay
Kumar Sharma sir, Rajagopal Krothapalli sir, Punit Garg sir aap puri team ko mein tahe dil se vandan karata hun. Aur mujhe lag raha hai ki ḍebt ṭhik karne mein, aur agar Anil sir vapas aayenge toh yeh puri Board of Directors team kaa mein hardik abhinandan karna chahunga.
Humare Managerial Personnel Ashok Kumar Pal sir, aur humari Kaur maḍam Ramandeep
Kaur, Company Secretary aisa lag raha hai ki shareholder ko apna parivar ke jaise rakhna chahati hai. Aur humare Auditor Pathak sir, aur humare KFin, kripya hum sabhi shareholder ka dhyan rakhen. Kabhie signature mein difference aave, kuch bhi aave, pura corporate karke kaam kijiye.
Sir, mein main mudey pe aana chahunga, ek sabse pehle Reliance Power ke jitane bhi karmachari hain unko mein salute karunga. Apni Cenṭral Government aur State Government abhi diesel, petrol aur coal ko ek side mein rakhna chahti hai. Humare dono project MP aur
UP ke coal based project hai. Zameen apne paas hai toh apan usko coal chalu rakhein aur saath mein agar solar ka project bhi chalu karein, yeh aapako meri suggestion acchi lage to iske upar sochna. Aaj nahin to kal export import ka system ke upar coal aata hai aur band hota hai. Government apni har ṭime kuch naa kuch nitiyan badalti rehati hai aur iska effect apni Company mein padta hai. Aur apne paas green energy nahin hai.
Jaise Reliance Industries ne vahaan pe Dhirubhai Ambani aamra van banaya hai, humare paas toh bahut badi jagah hai, maine khud personally visit kiya hai, maine dekha hua hai dono project toh vahaan pe apan 10 lakh aamravan aur neem ka jhad aisa kuch nahin kar sakte hai, sir. Humare paas manpower hai, superman power hai. Reliance Power ka har karmachari jo kaam karta hai isiliye to market mein log Reliance Power lena daud rahe hain aaj 30 saal baad. Agar isi tarah chalta raha toh mujhe lag raha hai, jaise IPO mein boom banata tha, aise hi Reliance Power ka bhi boom aayega ek din. Aur bahut jaldi hi humare Anil Sir dias pe baiṭhe hue dikhenge.
Aur mera thoda suggestion aap dhyan rakhna sir, coal based ke saath saath mein agar hum
Reliance solar mein jayenge, Reliance Power solar based mein bhi jayenge toh 100% apni jeet hogi. Apne ko raw material lena nahin hai, zameen toh apne paas hai. Sir, aapke brain ko thoda sa aapko multi purpose way mein use karna hai. Ek green belt banaye sir. Aaj Akhilesh sir, UP ke andar hai. Cenṭral Government ya koi bhi sarkar ho, agar hum progress karna chahtey hain, woh sabhi sarkar humein madad karti hai, aisa mera manna hai.
Aur Ambani naam hi, Hindustan ke andar, industry group ka sabse top mein naam hai. Aur
Sateesh sir, aapke banner ke anḍar kaam hoyega, aisa mujhe umeed hai. Meri puri Reliance
Power ki team ko mein phir se ek baar salute karunga. Sir, last mein itna kahunga “I, you and we love India. Jai Hind, Jai Bharat, Thank You”.
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Moderator- Thank you sir. Our next speaker is Mr. Sanjog Saraf thank you.
Mr Sanjog Saraf-
Hello, ha ji, Respected Chairman, board members, my fellow shareholders I am joint holding
Sanjog Saraf. Sir, many shareholders also asked so many questions sir and also appreciate
Board its working to become a debt free. Sir, I only want to ask Mrs. Secretary Ramandeep, on page number 94 there is balance sheet, but no DIN number and Company Secretary are given. As per rules, you have to mention DIN number of the directors and ACS number of the secretary. Sir, it is very serious matter, because it is a corporate governance question sir, no where it is mentioned. In the future I hope she will be do this, sir.
Sir, there is also one thing I want to say that we have permanent employees, non-permanent workers, but permanent workers, but in the case of permanent workers you not provided a single health paternity, maternity, accident benefits, why sir? Permanent workers what they done you are not giving them? You giving permanent employee and you giving permanent, non-permanent worker but in the case of permanent worker you're not providing any benefit as per rule health, accident, paternity and benefit diagnosis. So, what is the reason? Please clarify sir.
Sir, there is loss, a heavy loss, so how you tackle this loss to minimize and how you are using artificial technology to reduce cost and to increase productivity of the Company? Sir, productivity of the Company sir, because we are past 30 years but we are unable to give any dividend to our shareholders. Will you provide, sir?
At last, sir, I wish all for you for very good financial year and also thanks to our host, KFintech, for very good and fine services. Only I want to request KFin please at the time of sending in the link please mention speaker number. It is for benefit to us when our number will come.
Because we are in the home and there is a list of 20 to 25 speakers, maybe more, so when our number comes, that’s all. We continue have to sit before your screen. So, I advise to call me in the future when you send the link, please also send the speaker number.
Thank you for good service. And thank you sir, for giving me opportunity and hope we will meet in the next year with better result and better idea. Thank you, sir.
Moderator- Thank you sir. Our next speaker is Mr. Manoj Kumar Gupta. May I request Mr.
Manoj Kumar Gupta to kindly unmute yourself and speak. Mr. Manoj Kumar Gupta. Sorry sir, we are not getting any input from Mr. Manoj. So, we are moving to our next speaker. Mr. Anil
Champak Lal Parekh may request Mr. Anil Champak Lal Parekh kindly unmute yourself and speak Mr. Anil. Sorry sir. We are not getting any input from Mr. Anil. So, we are moving to our next speaker Mr. Hiranand Kotwani ji. May request Hiranand ji to kindly unmute yourself and speak.
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Mr. Hiranand Kotwani- Yeah. Namaste. Am I audible?
Moderator- Yes sir, you are audible. Please go ahead.
Mr. Hiranand Kotwani- Yeah. Namaste to all those who are attending, to all are respected person attending this meeting. So, our team of the management. Everybody is saying Anil
Ambani all this is still going on. They are a remote control. But certainly, this organization is doing well, now open, allowing all to speak. Previously, we were forbidden to speak critical juncture. But we are moving in right direction. Some legal issues were there. Our organization drill. We feel sorry for that. Your concern is our concern. Hello. I'm audible. Something is wrong with, the hello.
Mr. Hiranand Kotwani- Yeah. Namaste. Am I audible?
Moderator- Yes sir. You are audible and we can see you too. Thank you.
Mr. Hiranand Kotwani-
But transparency must in every organisation. Sincere transparency. Even this, our KFin, Why are they not giving the number? Even when I, I was too late, given the chance to speak. I was registered at 10:00 clock, till 5:00. So, I failed to understand. They should be transparent.
There are doing good, their portal is good. I appreciate.
But how the organisation will move in the future? How the new vertical will come? New profit, prosperity and growth will come from various angle. And how we are moving? Please narrate the budgeted. All management should narrate me that. How the future we will going forward to enhance the growth and prosperity? That is our concern.
Go two three years we do not expect the dividend. But certainly, after four five years of good conduct and good working. We will please narrate all these future things.
Thank you. And good luck to all the management people. Thank you.
Moderator- Thank you sir. Our next speaker is Mr. Praveen Kumar. May I request Mr. Praveen
Kumar to kindly unmute yourself and speak. Mr. Praveen Kumar.
Mr. Praveen Kumar- Hello. Am I audible sir.
Moderator- Yes sir, you are audible.
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Mr. Praveen Kumar-
Good afternoon to my respective Chairperson, esteemed Board of Director, my co fellow shareholder. Myself, Praveen Kumar, joining this meeting from New Delhi. I have few observations which I love to share with the entire house. But before that, in this financial year, this is our first interaction with the management. So, I wish the entire management team, each and every worker of our Company, a happy, healthy and prosperous future, sir.
Coming down to my observation, it was the most excellent address to the shareholders. Very, very in depth to the shareholders. It is very, very informative for a retail investor like me. Sir, I am into the Company since IPO, and I see lots and up and down in the past, but yes last year it was, it was historical year as far as the performance of our concern companies concerned that truly reflect in the share price also. So, I'm very, very thankful. Respected chairperson with your leadership quality, dedication, devotion along with the professional team to make our
Company number one in India in the power sector.
Sir, this paper which is published in America called Capital Idea and they come out with a letter on power for India, and they are very, very bullish on this sector. According to them, AI and renewed industrial revolution, under the leadership of respected PM Narendra Modi sir, will create huge, you know, demand for power. So, we are the early moving advantage because we have the expertise, we have the protocol in place to the biggest beneficiary in the future, sir. So, I'm very, very thankful the state of art plant we have which will be very beneficial in the future.
Sir, as far as the green concern energy is concerned our company is taking huge step as far as the environment is concerned. Sir, I have few questions which I love to address you. Please take note of them, and I'm happy if our management honestly answer them.
And my first question is, respect to chairperson, what is the debt position of Reliance Power, our company? My second question is there is a news regarding our Company becoming debt free on standalone basis, sir so, throw some light on that? I'm very happy to hear from you.
My third point is when the Rosa and Sasan plant will become totally debt free? And my last question is, number four what is the future plan of our Company as far as our is investment is concerned as far as the profitability of the Company is concerned?
Sir, one more thing which is very, very important from a retail point of view. Retail investor point of view. I am very, very thankful for our respected CFO for layout of the annual report which I requested our company secretary which was promptly delivered to me. I mean it is very, very investor centric report. So, I am very, very thankful for a respected chair, CFO for, you know, designing in such a way that all the figure and figure and the, you know, figure are very, very cleanly mentioned so that a retail investor go through it, understand it. I mean that
Reliance Power Limited
AGM Transcript truly shows the management is very, very investor friendly to run the Company in a very, very ethnical way. As far as the corporate governance is concerned, I am very, very thankful to our respected chairperson, madam and their entire for bringing out the most excellent communication to the shareholder.
I repeat my word, highest standard of corporate governance is maintained by Company. And even during the course of year, sir, if we see any update on BSE and we love to enlighten on them or clarify something it will be promptly replied. So, I'm very thankful to be part of such a legacy.
Due respect to my earlier speaker. Yes, I do Miss Anil Sir here. And if their son will be joining some somewhat in future, I mean that's truly beneficiary for us because they are so educated, their fresh idea will, you know, create lots of wealth for us, sir. And I just pray to the Lord that he will bless you so that you will keep that momentum in the future. I am very, very lucky to be part of such a legacy. And I have great faith in your ability, sir.
And I am very, very thankful. The patient hearing by the management and I ask few questions and I am very happy if the management answer them. And thank you for this opportunity. Wish you all the luck and all the best for the future, sir. Thank you, sir. Thank you very much.
Moderator- Thank you sir. Our next speaker is Mr. Ramesh Shankar Golla. May I request Mr
Ramesh Shankar Golla to kindly unmute yourself and speak. Sorry sir, we are not getting any input from Mr. Ramesh Shankar Golla. So, we are moving to our next speaker. Mr. Aloysius
Peter Mascarenhas. May I request Aloysius Peter Mascarenhas to kindly unmute yourself and speak.
Mrs. Celestian Elizabeth Mascarenhas - Hello, can you hear me?
Moderator- Yes madam.
Mrs. Celestian Elizabeth Mascarenhas- Hello. Hello.
Moderator- Yes ma'am. Yes. Yes madam, we can hear you.
Mrs Celestian Elizabeth Mascarenhas-
Yes, this is CE Mascarenhas. CE Mascarenhas speaking from the state of Mumbai. Thank you so much. Thanks KFintech. Now, I come with the formal part. Respected Chairman, Mr.
Sateesh Seth, other members of the Board, my dear fellow shareholders. I am Mrs. CE
Mascarenhas speaking from Mumbai.
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First of all, I thank the company secretary and his team for registering me as a speaker and also giving me this platform to speak at my request. For I now as many speakers have spoken many things, I would not like to take more time, because I feel time is very important when it is an online meeting and so many people were talking with so much about. I have read all those our electric means, our power stations and all. I am very happy.
There are some disputes also. Now, my question, I end up with one question. Future roadmap for the R Power. Five years. Next growth in next five years where do we see our Company?
What will be the capex requirement? Which vertical will be the growth driver? Whether we can go for nuclear energy? Just now our honourable prime minister has gone to Russia and Russia has promised that we can have nuclear energy. So, I request Anil to take a little more interest as he is also in the defence sector in Infra. So, to take more interest and get a nuclear energy station. Nothing like it. All our power energy questions will all get solved.
With this I support all the resolutions. I thank you very much for giving me this platform to speak. Thank you once again. God bless our Company and I wish you all very good health because it is only the health which can give us wealth. Thank you so much. Namaskar. Mera husband ko bhi baat karni hai, usne bhi mic rakha hai.
Moderator- Hello. Is he going to talk? Is he going to talk? Sorry sir, I think he don't want to speak further. Mr. Bimal Krishna Sarkar from Kolkata. May I request Mr. Bimal Krishna Krishna
Sarkar to kindly unmute yourself. Bimal ji.
Mr. Bimal Krishna Sarkar- Hello.
Moderator- Yes sir. Please.
Mr. Bimal Krishna Sarkar-
Hello sir, mein Bimal Kṛishna Sarkar. Mein aera residence Kolkata se bol raha hoon. Sir, mein
Chairman sahab aur company secretary, sir, aap logon ko dhanyavaad deta hoon. Sir, company secretary department bahut pehle hi annual report bhej diya hai, isliye unko dhanyavad deta hoon.
Sir, humara Company ka revenue from operation increase ho raha hai. Sir, humara Company dheere dheere aagey badh raha hai. Sir, mein mere pehle jitne speaker thay, mujhe lagta hai they share best of them mein isko zyada nahi bolna chahta hoon. Yeh humara adhik Priya
Company hai.
Sir, mein ye puchna chahta hoon, what is the roadmap, future plan? What is the capex plan for next 1 or 2 years, sir? Bangladesh Power project ka abhi status kya hai? Uske bare mein batyega to achha rahega, sir.
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Mein support karta hoon all jitna resolution hai. Annual report ko pura support karta hoon. Aur maine vote in favour of all the resolution e-voting system mein kar diya hai.
Sir, mein Chairman sahab, aapke pure team, company secretary, secretary department and upastith shareholder jitne hai, sab svasth rahey aur is tarikhe se dheere dheere aagey leke chaliye, sir. Yeh mein shareholder hai IPO se, sir, IPO kitne rate mein liya tha pata hai. Abhi shareholder hum sab bahut dukhi hai. Mein asha karta hoon within 1 aur 2 years humare
Company dividend paying company aa jayenga.
Sir, merako bolne ka mauka diya isliye bahut bahut dhanyvaad. Thank you very much sir.
Mr. Punit Garg- Moderator, can we now hand over to chairman for closing remarks?
Moderator- Yes sir. Hand it over to you. Thank you, sir.
Mr. Punit Garg- Thank you.
Mr. Sateesh Seth-
Thank you, Punit. Thank you, Mr. Moderator. I will now address the queries of the shareholders and the members. I have tried to group all the queries in a particular category so that each member's queries are addressed appropriately.
First of all, let me thank each one of you. You are very up to date with respect to the sector, government policies. What's happening in the power sector across the world and each one of you have advised us to look at the renewable sector. Let me assure you that the Board, with the team members and the employees of the Company do look at all these opportunities. The
Company follows certain parameters of finally deciding which opportunities should be seized and progressed upon. We'll continue to do this and at appropriate times we will participate in these opportunities so that the shareholders, do get reward.
Next question was on the debt. Yes, you are right that the Reliance Power at the standalone level is debt free now. Rosa and Sasan power plants do have debt which are being serviced as per the terms and conditions of the loan agreements and will be repaid over a period of time as per the repayment schedule.
The third one was the opportunities arising from the IBC statutory Act, is you are all aware that the Company has been trying utmost to address all the challenges which is faced in the recent past and you are yourself recognized the fact that the Company and with its team members and the management has reasonably well to address those challenges. We are now ready to look at these opportunities, and we would look at these opportunities.
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Bangladesh power project it is fully ready. It is awaiting the gas supply from the government of Bangladesh to run its test and start the commercial production. We anticipate that this should be completed by end of this calendar year.
One of the members raised serious concern on the various stringent provisions of environment and the pollution. Let me assure you that the Company, each of their plants are fully in compliance of these standards. We do adopt the new regulations as and when they are promulgated and always ensure that we are in compliance. There is no threat to the Company plants as and when new norms will come, we will be able to comply with this.
There was a concern raised that the banks are not financing their coal-based power plants.
Yes, in general, the banks are not financing. However, there are institutions and Power
Finance Corporation, Rural Electrification Corporation, etc, do finance and they are financing.
So, there are financing available and there are growth opportunities in the coal sector is also available.
Then, coming to the there was some comment on the KFin and the KFfin as everybody has appreciated their services. We do also appreciate their services and we'll request them to further improve and meet come up to the expectations of our members requirements. We will convey the deepest thanks conveyed by the members to our employees and their family for their support to the Company.
We are looking at each and every opportunity in the renewable sectors. May it be solar, battery energy storage systems, pump, hydro asset projects, wind, etc. FCCB and QIP these are the enabling resolutions being proposed now in this AGM. On its resolutions and approvals, the
Company will start working in tandem with the new opportunities which it will take up in the future.
So, the currently it is not possible to let you know what will be the size and what will be the price at which it will be done. It will be in accordance with the laid down guidelines of as applicable for FCCB and the QIP.
Butibori plant does have an issue which is primarily resulting from the termination of the power purchase agreement. The issues are sub judice. We should await the final outcome from the courts.
Someone gave a very good suggestion, similar to what Reliance Industries is doing, that we should grow mangoes and the neem trees. Sasan is one of the live examples of not the mango trees, but Sasan has tens of thousands of trees have been grown and it is like a fresh forest.
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One of the members raised that the DIN numbers of the directors and the company secretary's numbers have not been published in the annual general report. I would request him to go through the page numbers 19, 23, 43 and 62. All these numbers are incorporated and reflected.
One of the questions was on the nuclear energy. There's a recent if you remember, in 2003, your Company was the first to take up this opportunity. However, the private sector is not allowed to enter into nuclear energy. Then also and today also we'll continue to keep a watch on the developments and look at this opportunity as and when it comes.
I have addressed each and every query. If any queries left out, please pardon me. Future plan, retail investor, capital idea, bullish and any member with further queries or comments okay, there was a query on the consolidated date of the Company. Primarily the consolidated date represents the Sasan Power, Rosa and the Samalkot gas base power. It is in the range of approximately 18 - 19,000 crore as on the 31 March 2024. On the EV charging plants, this project is currently being followed by BSES which is a subsidiary of Reliance Infrastructure and it fits into their plans and we are agile to this. As and when further opportunities do arise in this sector, we will take it up. My personal view on the EV charging is that the technology is changing very fast. Earlier it used to take hours to get EV charging. It takes now a few minutes to EV charging less weight and then take a leapfrog in this sector as and when the new technologies emerge. I trust.
Any member with further queries or comments may submit them via email to the company secretary or by using the ask the question button on your screen. We will ensure prompt response.
I take this opportunity to thank each and every member who participated in discussions and who gave us deep insight into various suggestions, etc. We value all of them and we will take into account all those suggestions appropriately. I personally and also on behalf of all the board members, thank my colleagues, key management personnel, other team members and each and every employee and their family members for being with us at all points of time, giving us full encouragement to ensure that we serve you appropriately.
I will reiterate our commitment to the organization, to the Company as well as to all of you, and put our best efforts and utmost efforts to the best.
Thank you very much Jai Hind and all the best to everyone.