damodar valley corporation - SBICAP Trustee Company Ltd.

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DAMODAR VALLEY CORPORATIONCENTRAL ACCOUNTS OF'FICE

DVC TOWERS: VIP ROAD, KOLKATA - 700 054

PHONE: 033-6607-2411. FAX: 033-2355-131 1

No.CAO/Loa n/Trustee/Se riesl-4/108

To

The Asstt. Vice President,

SBICAP Trustee Company Ltd.,

6th Floor, Apeejay House,

3, DinshawWachha Road,

ChurchGate, Mumbai-400020.

Sub: 9.30% DVC Bonds, 2027 (Series-14) for Rs. 4,400 Cr.

Sir,

Half yearly Report for the period ending 30-09-2019 in compliance to Regulation 52(4) of SEBI (LODR)

Regulations, 2015 & Listing Agreement is stated below:

AAA-CE (Triple A CE) by CARE and lndia Ratings (FITCH).

1.00 % Asset Cover with creation of Security against Project Assets.

1.a8 (As per Accounts of 2018-19)

Previous Date of lnterest payment was 30-09-2019. Same has been paid.

5. Next interest : Due on 30-03-2020

1. Credit Rating

2. Asset Cover

3. Debt Equity Ratio

4. Date of interestThere is no default.

6. Debt Service Coverage Ratio

7. lnterest Service Coverage Ratio.

8. Debenture RedemPtion Reserve

Dated. 28-10-201.9

: 1..46 (As per Accounts of 2018-19)

: 1.80 (As per Accounts of 2018-19)

: Rs. 2,500.34 Crore (As per Accounts of 2018-19)

9. Net Worth : Rs.6,229 Crore (Capital + Reserve Surplus - excluding Revaluation Reserve &

intangible assets, as per Accounts of 2018-19)

1-0. Net Profit after Tax : Loss of Rs. l-,115.08 Crore (As per Accounts of 2018-19)

Soft copy of Annual Accounts of DVC for the year 2018-19 is attached in the e-mail. Annual Report

for the year 201g-19 will be submitted after the same has been tabled in the Parliament. lnformation

regarding preference Shares and Earnings per Share is not applicable to DVC since DVC has no Share Capital.

(P. Banerjee){g;o't1

Registrar of Bonds, DVC

dsrfr oT ftTqRREGISTRAR OF BONDS

Er.sI.B. / D.v.c.

Series /Tranche

ISIN Type

(Principal /lnterest)

Due date ofpayment

Amount(Rs.)

Actual date ofpayment

Series 14 rNE7s3F07038 &

lN E753F07046

I nterest 30-09-2019 205,7t,80,328 30-09-2019

Series /Tranche

ISIN Type

(Principal IInterest)

Due date ofpayment

Amount(Rs.)

Series 14 lNE7s3F07038 &

tNE753F07046

I nterest 30-03-2020 204,03,94,522

Yours faithfully,

Encl. as above

Damodar Valley Corporation

Balance Sheet as at 31.03.2019Rs. in Crore

POWER IRRIGATION FLOOD

CONTROL

OTHER

ACTIVITIES

TOTAL POWER IRRIGATION FLOOD

CONTROL

OTHER

ACTIVITIES

TOTAL

2 3 4 5 6 7 8 9 10 11 12

I EQUITY AND LIABILITIES

(1) Government Funds

(a) Capital 2 5,081.64 542.11 19.47 - 5,643.22 5,081.64 448.23 19.47 - 5,549.34

(b) Reserves and Surplus 3 5,616.07 140.26 (29.96) - 5,726.37 6,545.18 72.38 (23.37) - 6,594.19

(2) Non-Current Liabilities

(a) Long Term Borrowings 4 17,182.49 - - 55.63 17,238.12 17,802.81 - - 39.53 17,842.34

(b) Deferred Tax Liabilities

(Net)5 - - - - - 516.34 - - - 516.34

(c) Other Long Term Liabilities 6 693.97 114.68 0.60 0.21 809.46 486.79 204.58 0.60 0.21 692.18

(d) Long Term Provisions 7 4.81 - - 87.59 92.40 4.81 - - 87.59 92.40

(3) Current Liabilities

(a) Short Term Borrowings 8 8,891.45 - - - 8,891.45 6,993.54 - - - 6,993.54

(b) Trade Payables 9 3,817.64 0.03 - 10.72 3,828.39 4,606.58 0.03 - 13.36 4,619.97

(c) Other Current Liabilities 10 4,075.10 0.12 0.25 325.80 4,401.27 4,209.29 0.12 0.16 608.90 4,818.47

(d) Short Term Provisions 11 185.03 - - 41.96 226.99 151.02 - - 41.91 192.93

TOTAL 46,857.67 47,911.70

Particulars Note

31.03.2019 31.03.2018

Annual Financial Statement 2018-19 Page 1 of 65




CONTROL

OTHER

ACTIVITIES


CONTROL

OTHER

ACTIVITIES

TOTAL

2 3 4 5 6 7 8 9 10 11 12

Particulars Note

31.03.2019 31.03.2018

II ASSETS

(1) Non-Current Assets

(a) Fixed Assets

(i) Tangible Assets 12 24,689.94 3,996.26 402.14 - 29,088.34 26,893.62 4,022.74 402.64 - 31,319.00

(ii) Intangible Assets 12 6.45 - - 6.95 13.40 10.13 - - - 10.13

(iii) Capital Work- in-

Progress13 1,954.18 23.06 34.50 - 2,011.74 1,915.92 17.04 25.05 - 1,958.01

(iv) Intangible Assets under

Development13 - - - - - - - - - -

(b) Non Current Investments 14 557.23 - - - 557.23 590.90 - - - 590.90

(c) Long Term Loans and

Advances 15 686.64 - - 5.73 692.37 568.92 - - 5.20 574.12

(d) Other Non Current Assets 16 - - - - - - - - - -





CONTROL

OTHER

ACTIVITIES


CONTROL

OTHER

ACTIVITIES

TOTAL

2 3 4 5 6 7 8 9 10 11 12

Particulars Note

31.03.2019 31.03.2018

(2) Current Assets

(a) Current Investments 17 4.31 - - - 4.31 4.11 - - - 4.11

(b) Inventories 18 1,361.02 - - 2.13 1,363.15 951.34 - - 2.18 953.52

(c) Trade Receivables 19 7,149.78 67.75 - - 7,217.53 5,659.28 79.11 - - 5,738.39

(d) Cash and Cash Equivalents 20 19.26 - - 80.20 99.46 14.10 - - 50.71 64.81

(e) Short Term Loans and

Advances 21 1,621.33 - - 30.01 1,651.34 2,007.10 - - 10.17 2,017.27

(f) Other Current Assets 22 4,065.30 5.66 - 87.84 4,158.80 4,509.86 5.89 - 165.69 4,681.44

TOTAL 46,857.67 47,911.70

Significant Accounting Policies - 1

S. Halder Gurdeep SinghMember (Finance) Chairman



Statement of Profit & Loss for the year ended 31.03.2019Rs. in Crore


CONTROL


CONTROL

TOTAL

1 2 3 4 5 6 7 8 9 10

Revenue:

I Revenue from Operations 23 15,489.18 128.53 - 15,617.71 14,865.86 127.98 - 14,993.84

II Other Income 24 432.09 0.63 0.60 433.32 1,123.25 0.54 0.20 1,123.99

III Total Revenue (I + II) 15,921.27 129.16 0.60 16,051.03 15,989.11 128.52 0.20 16,117.83

IV Expenses:

Cost of Power Purchased 25 1,407.73 - - 1,407.73 952.38 - - 952.38

Cost of Fuel 26 8,142.71 - - 8,142.71 7,326.44 - - 7,326.44

Employee Benefit Expenses 27 1,092.49 1.40 3.08 1,096.97 1,590.10 13.88 14.11 1,618.09

Finance Costs 28 2,742.49 24.65 0.60 2,767.74 2,860.03 21.79 0.60 2,882.42

Depreciation and

Amortization Expense 2,876.79 26.74 0.61 2,904.14 2,829.69 24.46 0.57 2,854.72

Operation & Maintenance

and General Administration

Charges

29 1,331.69 28.17 3.30 1,363.16 1,695.68 82.45 8.67 1,786.80

Prior Period Items (Net) - - (455.69) - - (455.69)

Total Expenses 17,593.90 80.96 7.59 17,682.45 16,798.63 142.58 23.95 16,965.16

Particulars Note

31.03.2019 31.03.2018





CONTROL


CONTROL

TOTAL

1 2 3 4 5 6 7 8 9 10

Particulars Note

31.03.2019 31.03.2018

V

Profit/ (Loss) Before

Exceptional and Extraordinary

Items and Tax (III - IV)

(1,672.63) 48.20 (6.99) (1,631.42) (809.52) (14.06) (23.75) (847.33)

VI Exceptional Items - - - - - - - -

VII

Profit / (Loss) Before

Extraordinary Items and Tax

(V - VI)

(1,672.63) 48.20 (6.99) (1,631.42) (809.52) (14.06) (23.75) (847.33)

VIII Extraordinary Items - - - - - - - -

IXProfit / (Loss) Before Tax

(VII - VIII) (1,672.63) 48.20 (6.99) (1,631.42) (809.52) (14.06) (23.75) (847.33)

X Tax Expense:

(1) Current Tax - - - - - -

(2) Deferred Tax (516.34) - - (516.34) - - - -

XI

Profit (Loss) for the Period

from Continuing Operations

(IX - X)

(1,156.29) 48.20 (6.99) (1,115.08) (809.52) (14.06) (23.75) (847.33)





CONTROL


CONTROL

TOTAL

1 2 3 4 5 6 7 8 9 10

Particulars Note

31.03.2019 31.03.2018

XIIProfit /(Loss) from

Discontinuing Operations

XIIITax Expense of Discontinuing

Operations

XIV

Profit /(Loss) from

Discontinuing Operations

(After Tax) (XII - XIII)

- - - - - - - -

XVProfit (Loss) for the Period

(XI + XIV) (1,156.29) 48.20 (6.99) (1,115.08) (809.52) (14.06) (23.75) (847.33)

XVISinking Fund and Debenture

Redemption Reserve Fund - - - - - -

XVII General Reserve - - - - - - - -

XVIII Capital Reserve - - - - - - - -

XIX Sub Total (XVI + XVII + XVIII) - - - - - - - -





CONTROL


CONTROL

TOTAL

1 2 3 4 5 6 7 8 9 10

Particulars Note

31.03.2019 31.03.2018

XXAllocation to Central

Government (385.43) - - (385.43) (269.84) - - (269.84)

XXIAllocation to West Bengal

Government (385.43) 48.05 (6.99) (344.37) (269.84) (14.05) (23.75) (307.64)

XXIIAllocation to Bihar

Government (385.43) 0.15 - (385.28) (269.84) (0.01) - (269.85)

XXIII Sub Total (XX + XXI + XXII) (1,156.29) 48.20 (6.99) (1,115.08) (809.52) (14.06) (23.75) (847.33)

XXIV Total (XIX + XXIII) (1,156.29) 48.20 (6.99) (1,115.08) (809.52) (14.06) (23.75) (847.33)

S. Halder Gurdeep Singh

Member (Finance) Chairman



Cash Flow Statement for the year ended 31.03.2019Rs. in Crore

A. Cash Flow from Operating Activities

Net Profit before tax, adjustments and extra ordinary items (1,631.42) (847.33)

Adjustments for :

Depreciation / Amortisation 2,904.14 2,854.72

Interest and Other Finance Charges 2,767.74 2,882.42

Prior Period Non Cash items - (455.69)

(Gain) / Loss in Foreign Currency Transactions (0.09)

Expenses incurred by W.B. Govt. 69.61

Interest Income (3.17) (126.27)

Income from Dividend (54.14) (27.28)

Non Cash income by W.B. Govt. (0.28)

Profit on sale of Fixed assets (5.29) 5,609.28 5,197.14

Operating Profit before Working Capital Changes 3,977.86 4,349.81

Adjustments for : (Increase) / Decrease in Current Assets

Trade and Other Receivables (1,591.28) (72.49)

Inventories (409.89) 322.79

Loans and Advances 402.21 (533.77)

Other Current Assets 436.84 (1,162.12) 544.54 261.07

Adjustments for : Increase /(Decrease) in Current Liabilities

Trade Payable (791.59) 33.68

Short term Provisions 190.82 392.60

Other Current Liabilities (393.83) (994.60) (438.38) (12.10)

Cash generated from operations 1,821.14 4,598.78

Direct Taxes 37.19 -

Net Cash from Operating Activity - A 1,783.95 4,598.78

B. Cash Flow from Investing Activities

Purchase of Fixed Assets (596.51) (657.79)

Sale of Fixed Assets 6.18 -

Purchase of investments (0.20) (14.64)

Sale of investments 33.79 80.59

31.03.2019 31.03.2018



Cash Flow Statement for the year ended 31.03.2019Rs. in Crore

31.03.2019 31.03.2018

Interest Received 126.27

Dividend Received 57.32 27.28

Non Cash Expenses by WB Govt. 73.49

Sale of Ash transferred to Ash Fund 9.91

Net cash used in Investing Activities - B (499.42) (354.89)

C. Cash Flow from Financing Activities

Drawal of Long Term Loan - 587.20

Repayment of Long Term Loan (585.44) (1,202.23)

Increase (Decrease) in Short Term Loan and Cash credit 1,897.91 (984.22)

Interest Paid & Other Finance Charges (2,562.35) (2,651.86)

Net Cash flow from Financing Activities - C (1,249.88) (4,251.11)

Net increase / (decrease) in cash and cash equivalents (A + B + C) 34.65 (7.22)

Cash and cash equivalents at the beginning of the period [Note (a) below] 64.81 72.03

Cash and cash equivalents at the end of the period [Note (a) below] 99.46 64.81

Note:-

a) Cash and cash equivalents included in Cash Flow Statement is same as per Note-20 99.46 64.81

Bank Deposits with more than three months Maturity Nil Nil

Total 99.46 64.81

b) The above balance does not include any amount which is not available for use




Notes to the financial statements for the year ended 31st March 2019

1. Significant Accounting Policies

1 Method of Accounting

2 Use of Estimates

3 General Reserve

a)

b)

c)

4 Sinking Fund

4.1

4.2

5 Fixed Assets

5.1

5.2

5.3

Where fixed assets have been revalued, the assets are shown at revalued cost.

Capital expenditure on assets are booked in Capital work in progress till the period of completion or put to use and thereafter in fixed assets.

Fixed assets are shown at Historical cost of acquisition.

The financial statements are prepared on accrual basis of accounting under historical cost convention in accordance with generally accepted accounting

principle in India except revaluation of fixed assets and the relevant provision of the DVC Act, 1948.

The preparation of financial statement requires estimates & assumptions that affect the reported amount of assets, liabilities, revenue & expenses during

the reporting period. Although such estimates & assumptions are made on a reasonable and prudent basis taking into account all available information,

actual results could differ from these estimates & assumptions and such differences are recognized in the period in which the results are crystalised.

On the basis of approval of the Comptroller and Auditor General the power surplus is apportioned as follows:-

Allotment to Sinking Fund as a first charge

General Reserve- 55% after adjustment of (a) above.

Participating Governments as divisible surplus 45% after adjustment of (a) above.

Bond issued up to 31st March, 2012

Sinking fund is created for redemption of bonds, with the proportionate annuity contribution every year. The corporation pays interest @ 7% p.a. on the

balance amount of the fund as the amount is utilized by the corporation.

Bonds issued from 1st April, 2012

Sinking Fund is created for redemption of bonds, with the proportionate annuity contribution every year. The amount will be kept in a separate fund

account to be managed and governed through Escrow Mechanism. Interest on investment on such fund will be credited to the Sinking Fund Account on

annual basis.

After the repayment of the bond on maturity an equivalent amount will be transferred to General Reserve in both the cases.





5.4

5.5

6 Construction Work- in- Progress

6.1

6.2

6.3

6.4

6.5

6.6

6.7

7 Intangible Assets

8 Investments

8.1

9 Inventories

9.1

9.2

Long term investments are carried at cost. When there is decline, other than temporary, in the cost of a long term investment, the carrying amount is

reduced to recognised the decline.

Inventories other than coal and oil are valued at lower of weighted average cost or net realisable value.

Inventories of coal and oil are valued at weighted average cost basis including freight.

Intangible assets are recognized only if it is probable that future economic benefits that are attributable to the assets will flow to the Corporation and the

cost of the assets can be measured reliably and such assets are shown at cost.

Assets and systems common to more than one generating units are capitalized on the basis of engineering assessment.

Deposits, payments/liabilities made provisionally towards compensation, rehabilitation and other expenses relatable to land in possession are treated

as cost of land.

Projects under commissioning and other capital work-in-progress are carried at cost.

In respect of projects under construction, incidental and attributable expenses (net of income) including interest & depreciation on fixed assets in use

during construction are carried as part of incidental expenditure during Construction to be allocated on major immovable Project Assets other than

Land on a rational basis, on commissioning of the Project.

Expenditure in relation to Survey and Investigation of the Projects is carried as capital work in progress. Such expenditure is capitalized as cost of the

project. The expenditure incurred on start-up and commissioning of the project, including the expenditure incurred on test runs and experimental

production is usually capitalized as an indirect element of the construction cost.

In respect of supply-cum-erection contracts, the value of supplies received at site and accepted is treated as capital work-in-progress.

Administration and general overhead expenses attributable to construction of fixed assets incurred till they are ready for their intended use are

identified and allocated on a systematic basis to the cost of related assets.

Deposit works/cost plus contracts are accounted for on the basis of statements of account received from the contractors.

Power consumed by the Construction Projects are charged at cost.





10 Grant- in- Aid

10.1

10.2

11 Borrowing Cost

11.1

11.2

12 Foreign Currency

13 Revenue Recognition

13.1

13.2

13.3

13.4

13.5

13.6

13.7

Power generated by the new projects before commissioning are charged at weighted average sale price prevailing at the time of generation and

adjusted against the project cost

Scrap other than steel scrap is accounted for as and when sold.

Insurance claims for loss of profit are accounted for in the year of acceptance. Other insurance claims are accounted for based on certainty of realization.

Interest income is recognised on accrual basis.

Grants from Government and other agencies towards revenue expenditure are recognized over the period in which the related costs are incurred and

are deducted from the related expenses.

Grants related to procurement of capital assets are shown as a deduction from the gross value of assets concerned in the book value of assets.

Interest payment on loan is charged to Statement of Profit & Loss on accrual basis.

In respect of project specific loan, payment of interest charges before commissioning of the Projects is capitalized and interest paid after Date of

Commissioning is charged to Statement of Profit & Loss.

Foreign Currency Transactions are initially recorded at the Exchange Rate ruling on the date of transaction. Foreign currency loans are reported with

reference to the exchange rates ruling at the year end and the difference resulting in such transaction as well as due to payment/discharge of liabilities

in foreign currency related to Fixed Assets/Work-in-Progress is adjusted in their carrying cost and that related to Current Assets is recognized as

Revenue/Expenditure during the year.

Sale of power is accounted for based on tariff rates approved by the Central Electricity Regulatory Commission (CERC) as modified by the orders of

Appellate Tribunal for Electricity to the extent applicable. In case of power stations where the tariff rates are yet to be approved, provisional rates are

adopted.

Revenue from water charges and other charges are accounted for on the basis of billing to consumers and includes unbilled revenue accrued up to the

end of the accounting year.

The surcharge on late payment/ overdue sundry debtors for sale of energy is recognized when no significant uncertainty as to measurability or

collectability exists.





14 Expenditure

14.1

14.2

14.3

14.4

14.5

14.6

14.7

14.8

15 Employee Benefits

15.1 Defined contribution plan:

15.2

New Pension Scheme: Corporation is required to contribute towards payment of pension in respect of employee who have joined on after 1st January

2004. Monthly contribution are deposited to Pension Fund Regulatory &Development Authority (PFRDA) .

Defined benefit plan: Corporation’s liability towards pension & gratuity are determined by the independent actuaries at the year end. Liability of

gratuity as per actuarial valuation is paid to a fund administered through a separate Trust. On superannuation, Corporation makes payment to

employees in respect of pension, gratuity are booked as recoverable. DVC Pension & Gratuity Trust reimburses the amount subsequently.

Provident Fund: Corporation’s contributions paid/payable during the year to provident fund is recognized in the statement of Profit & Loss The fund is

invested in Government Securities and managed by the Corporation. Corporation has an obligation to pay a minimum rate of return to the members as

specified by GOI

Depreciation is charged on straight line method with 10 % residual value as approved by the GOI Gazette Notification No. S.O.No.266E dated 29th

March 1994 on the historical cost of the assets.

Depreciation on revalued assets provided based on straight line method on the values and at the rates given by the valuer. The difference between

depreciation provided based on revalued amount and that on historical cost is charged to the Revaluation Reserve Account.

Depreciation on fixed assets is charged in the revenue account on pro-rate basis from/up to the month in which the assets is available for use/

disposal/discarded/demolished. However, discloser in the Accounts of the Corporation will be made, if the net surplus or deficiency of any

depreciable assets disposed off discarded, demolished or destroyed, is material

Depreciation on assets purchased during the year costing less than Rs.5000/- shall be fully depreciated during the year with Re.1/- as a balance value.

Miscellaneous expenditure having medium term benefit for sustenance of operations are amortised over a period of five years.

Lump sum compensation paid, on compassionate ground in lieu of employment are amortised over a period of five years.

Cost of software recognized as intangible asset, is amortised over a period of legal right to use or 3 years which ever is less.

In case of existing projects commissioned earlier, carpet coal is charged off coal consumption. Incase of new projects under contruction carpet coal is

retained in inventories and capitalised in the first year of commercial operation.





15.3

16 Diverted In/ Out Wagons

16.1

16.2

17 Impairment

17.1

18 Provisions and Contingent Liabilities

18.1

18.2

18.3

A provision is recognized when the company has a present obligation as a result of a past event and it is probable that an outflow of resources will be

required to settle the obligation and in respect of which a reliable estimate can be made. Provisions are determined based on management estimate

required to settle the obligation at the balance sheet date and are not discounted to present value. Contingent Liabilities are disclosed on the basis of

judgment of the management/independent experts. These are reviewed at each Balance Sheet date and are adjusted to reflect the current management

estimate.

Provision is made for other doubtful debts on case to case basis. Debt declared as bad will be written off subject to approval of appropriate authority.

In case of dues for supply of water for industrial & domestic purpose, provisions are made for dues outstanding for more than three years.

Short term employee benefits: Leave Travel Assistance, Re- imbursement of medical expenses and post retirement medical facilities are recognized as

an expense at the undiscounted amount in the statement of Profit & Loss in the year in which they are paid.

For Diverted-out/Missing wagons 'Railway Claim Account will be debited with the cost of coal and freight attributable to the wagons. In case missing

wagons are received subsequently, Railway Claim Account shall be credited. Missing wagons for a period of more than three years will be provided

for.

For Diverted-in wagons, the credit will be given to Railway Claim Account with the amount of coal cost & freight attributable to these wagons and no

payment will be made.

The carrying amount of cash generating units is reviewed at each balance sheet date where is any indication of impairment based on internal/external

indicators. An impairment loss is recognized in the statement of Profit & Loss where the carrying amount exceeds the recoverable amount and such

loss either no longer exists or has decreased.



2. CapitalRs. in Crore

As at

Particulars Power Irrigation Flood Control Total Power Irrigation Flood Control Total

Central Govt.

Opening Balance 1,813.67 - 7.00 1,820.67 1,813.67 - 7.00 1,820.67

Add Transfer From Revenue A/c - -

Sub Total 1,813.67 - 7.00 1,820.67 1,813.67 - 7.00 1,820.67

West Bengal Govt.

Opening Balance 1,486.69 447.96 12.47 1,947.12 1,486.69 397.91 12.47 1,897.07

Add Transfer From Revenue A/c 93.88 93.88 - 50.05 - 50.05

Sub Total 1,486.69 541.84 12.47 2,041.00 1,486.69 447.96 12.47 1,947.12

Bihar Govt.

Opening Balance 1,781.28 0.27 - 1,781.55 1,781.28 0.27 - 1,781.55

Add Transfer From Revenue A/c - -

Sub Total 1,781.28 0.27 - 1,781.55 1,781.28 0.27 - 1,781.55

Total 5,081.64 542.11 19.47 5,643.22 5,081.64 448.23 19.47 5,549.34

31.03.2019 31.03.2018



2. Capital

Notes

4. During the current year in terms of Corporation Resolution, an amount of Rs 93.88 Crs ( previous year Rs. 50.05 Crs) were transferred to capital Accounts of

Govt. of West Bengal under Irrigation object on account of Capital Expenditure made by Govt. of W. Bengal for the year 2016-17.

5. Corporation has sought for necessary decision in terms of the Bihar Re-organisation Act, from Government of India for reallocation of capital account of the

erstwhile Bihar Government, which is still awaited.

1. As per DVC Act 1948 (DVC Act), Capital requirement of the Damodar Valley Corporation (Corporation) is to be provided by the participating member

Governments. The Capital provided upto 1968-69 amounted to Rs. 214.72 Crores. Thereafter, no capital was provided by the participating member Governments

by way of direct contribution,but capital growth has been taken place by plough back of share of profit of these Governments with credit to their respective

Capital Account.

2. With the amendment of DVC Act,1948 by Parliament in 2011, as published in Gazette of India on 9th January 2012, DVC Board has been restructured and will

be represented by ten members consisting of Chairman, Member (Technical),Member (Finance), Member (Secretary), one representative each from Central Govt.,

West Bengal and Jharkhand Government and three independent experts from the field of Irrigation,water supply and generation or transmission or distribution of

electricity.

3. DVC Board approve the transfer of plough back profit and retained interest to the respective Capital Accounts of the three Governments. The Annual

Reports are also sent for approval of the respective State and Central Legislature through the respective Participating Member Governments .



3. Reserves & Surplus Rs. in Crore

As at


Reserves

Capital Reserve

Sub Total - - - - - - - -

Revaluation Reserve

As per Last Balance Sheet 5,127.31 - - 5,127.31 5,127.31 - - 5,127.31

Less: Tranasfer to Depriciation

Reserve during the Year - -

Sub Total 5,127.31 - - 5,127.31 5,127.31 - - 5,127.31

Sinking Fund Reserve


Add: Interest Credited 143.37 - - 143.37 113.79 - - 113.79

Add: Transfer from Surplus - -

Add: Transfer from General

Reserve 308.82 - - 308.82 308.82 - - 308.82

Less: Transfer To General Reserve

on Redemption - - - - -

Sub Total 2,500.34 - - 2,500.34 2,048.15 - - 2,048.15

31.03.2019 31.03.2018




As at


31.03.2019 31.03.2018

Ash Utilization Reserve

As per Last Balance Sheet: 13.76 - - 13.76 - - - -

Add: Addition During The Year: 17.33 - - 17.33 13.76 - - 13.76

Sub Total 31.09 - - 31.09 13.76 - - 13.76

General Reserve


Add: Transfer from Sinking Fund

on Redemption - - - -

Less: Transfer to Sinking Fund 308.82 - - 308.82 308.82 - - 308.82

Sub Total 3,465.26 - - 3,465.26 3,774.08 - - 3,774.08

Surplus (Govt. Current Capital

Account)

As per Last Balance Sheet:

Central Govt. (1,601.50) - - (1,601.50) (1,268.46) - - (1,268.46)

West Bengal Govt. (1,201.78) 72.38 (23.37) (1,152.77) (1,119.79) 273.11 (49.97) (896.65)

Bihar Govt. (1,614.84) - - (1,614.84) (1,278.61) 0.10 - (1,278.51)

Sub Total (4,418.12) 72.38 (23.37) (4,369.11) (3,666.86) 273.21 (49.97) (3,443.62)




As at


31.03.2019 31.03.2018

Adjustment during the Year

Central Govt. 21.38 - - 21.38 (63.20) - - (63.20)

West Bengal Govt. 26.45 19.67 0.39 46.51 187.85 (186.68) 50.35 51.52

Bihar Govt. 18.65 0.01 0.01 18.67 (66.39) (0.09) - (66.48)

Sub Total 66.48 19.68 0.40 86.56 58.26 (186.77) 50.35 (78.16)

Appropriation of Net Profit/ Loss

(as per Statement of Profit & Loss)

for the year

Central Govt. (385.43) - - (385.43) (269.84) - - (269.84)

West Bengal Govt. (385.43) 48.05 (6.99) (344.37) (269.84) (14.05) (23.75) (307.64)

Bihar Govt. (385.43) 0.15 - (385.28) (269.84) (0.01) - (269.85)

Sub Total (1,156.29) 48.20 (6.99) (1,115.08) (809.52) (14.06) (23.75) (847.33)

Closing Balance

Central Govt (1,965.55) - - (1,965.55) (1,601.50) - - (1,601.50)

West Bengal Govt. (1,560.76) 140.10 (29.97) (1,450.63) (1,201.78) 72.38 (23.37) (1,152.77)

Bihar Govt. (1,981.62) 0.16 0.01 (1,981.45) (1,614.84) - - (1,614.84)

Sub Total (5,507.93) 140.26 (29.96) (5,397.63) (4,418.12) 72.38 (23.37) (4,369.11)

Total 5,616.07 140.26 (29.96) 5,726.37 6,545.18 72.38 (23.37) 6,594.19



3. Reserves & Surplus

3. Ash Utilization Reserve

The balance of Ash Utilization Reserve of Rs. 31.09 Cr. (Previous Year Rs. 13.76 Cr.) as on 31-03-2019 is on account of unspent balance of sale proceeds from Dry fly ash.

1. Appropration of Profit/ Adjustment of Loss

1.4. In case of Government of Bihar, share of surplus/deficit on irrigation object is adjusted against interest accrued on capital provided by them. Balance Interest amountavailable after adjustment of above along with 1/3 share of distributable power surplus taken together is considered as ploughed back fund in respect of Government of Biharand transferred to the respective Capital Account in the following year with approval of the Corporation. The net deficit on power shall be made good by the governmentconcerned in proportion to their respective shares in total capital cost attributed to the power object.

2. Sinking Fund & Debenture Redemption Reserve

Opening Balance as on 1st April, 2018 was Rs.2048.15 Crs. (previous year Rs. 1625.54 Crs.) During the year an amount of Rs. 143.37 Crs. (previous year Rs.113.79 Crs.) wascredited on account of interest @ 7% p.a. During the year an amount of Rs. 308.82 Crs (previous year Rs. 308.82 Crs.) , has been contributed from General Reserve toSinking Fund Account. The fund is fully utilised by the Corporation instead of depositing the same in seperate fund account to be managed and governed through EscrowMechanism.

1.1 As prescribed by C&AG in terms of provisions of Section 40 of the DVC Act , Sinking Fund has a first charge towards available profit of Power for the year. 55% of thePower Surplus available after appropriation towards sinking fund is transferred to General Reserve. Balance 45% is considered as distributable surplus divided equallyamong the three participating Governments viz– Central Government, West Bengal Government and Bihar Government. In case of deficit on power the same is dividedequally among the participating Governments for reimbursement /adjustment in terms of Sec 37(2) of the DVC Act.

1.2 In case of Government of India, 1/3 share of available surplus in power business after appropriation of Sinking Fund and General Reserve, if any, Interest on Capital areconsidered as ploughed back fund and transferred to the respective Capital Account in the following year with approval of the Corporation. As per DVC Act, net deficit onpower shall be made good by the government concerned in proportion to their respective shares in total capital cost attributed to the power object. However, in absence ofany fund contributed by the participating Govts. the net revenue deficit on power object is adjusted from share of their dues credited to the participating Govts. either in thesame accounting year and / or in future years. In the event of receipt of revenue deficit fund from participating Govts. in subsequent years, the same will be ploughed back inthe respective Capital Account of the Govts.

1.3 In case of Government of West Bengal, share of surplus/deficit on irrigation object, entire deficit on flood control object and water dues receivable from Govt. of WestBengal for supply of agricultural water is adjusted against interest on capital and balance if any is adjusted against Share of Power Surplus/ Deficit. The Net balance availablethereafter is considered as Ploughed Back Fund and transferred to the respective Capital Account in the following year with approval of the Corporation. The net deficit onpower shall be made good by the government concerned in proportion to their respective shares in total capital cost attributed to the power object.



4. Long Term BorrowingsRs. in Crore

As at

Particulars Power Irrigation Flood

Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities Total Power Irrigation

Flood

Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities Total

Long term Borrowings

Bond

Secured Bond

9.30% GoI Guaranteed Secured

redeemable non-convertible non-

cumulative taxable bonds in the

nature of debenture (Series-14A and

14B) of Rs 10,00,000/- each

aggregating to Rs 4400 Cr. (private

placement basis). Redeemable 30% on

30th March 2025, 30% on 30th March

2026 and 40% on 30th March 2027.

4,400.00 4,400.00 4,400.00 - - - - - 4,400.00

Unsecured Bond

8.69% GoI Guaranteed Unsecured

redeemable non-convertible non-

cumulative taxable bonds in the

nature of debenture (Series-15) of Rs

10,00,000/- each for Cash at Par

aggregating to Rs. 2600 Cr. (private

placement basis). Redeemable 30% on

30th March 2026, 30% on 30th March

2027 and 40% on 30th March 2028.

2,600.00 2,600.00 2,600.00 - - - - - 2,600.00

31.03.2018 31.03.2019



4. Long Term BorrowingsRs. in Crore

As at


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities Total Power Irrigation

Flood

Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities Total

31.03.2018 31.03.2019

Term Loans from Banks (Rupee Loan)

Secured 614.22 614.22 966.20 - - - - - 966.20

Term Loan from Bank (Foreign

Currency)

Unsecured - 4.19 - - - - - 4.19

Term Loans from Financial

Institutions

Secured 10,822.31 10,822.31 11,067.66 - - - - - 11,067.66

Loan from GOI

Unsecured - - - 2.34 53.58 - 55.92 - - - 2.62 37.20 - 39.82

Total Long Term Borrowings 18,436.53 - - 2.34 53.58 - 18,492.45 19,038.05 - - 2.62 37.20 - 19,077.87

Less : Current Maturity of Long term

Loan - taken in Note 10 1,254.04 0.29 1,254.33 1,235.24 0.29 1,235.53

Net Long Term Borrowing - (Non

Current) 17,182.49 - - 2.05 53.58 - 17,238.12 17,802.81 - - 2.33 37.20 - 17,842.34



4. Long term Borrowings

Rs. in Crore

As at

Non Current Current Non Current Current

Bonds

4,400.00 4,400.00 -

Term Loans from Banks/ FI's

- 0.12

376.56 50.21 426.77 50.21

- 65.85

As at 31.03.2019 As at 31.03.2018

1) Renovation and Modernisation (R&M) Loan from PFC for Chandrapura

TPS (Unit no 4 to 6) -Retainer consultancy. Secured by way of

Hypothecation of Fixed Assets of Chandrapura TPS (Unit no 4 to 6).

2) Project Loan from PFC for Mejia TPS (Unit no 5&6). Secured by way of

Hypothecation of present and future Fixed and movable Assets of Mejia

TPS (Unit no 5&6) .

A. Details of Secured Loan ( Long term)

1) 9.30% GoI Guaranteed Bonds (Series 14A & 14B) secured non cumulative

non convertible redeemable taxable Bonds of Rs 10,00,000/- each

redeemable at par in March'2025 (30%), March 2026 (30%) and March 2027

(40%) (Private Placement). The Bonds are secured by way of hypothecation

of Fixed Assets of the Thermal Power Projects (excluding land) of the

Corporation namely MTPS (Unit no 5&6), CTPS (Unit no 7&8), KTPS (Unit

no 1&2) and DSTPS (Unit no 1&2), ranking Pari Passu among the lenders.

3) Project Loan for Chandrapure TPS (Unit no 7&8). Secured by way of

hypothecation of present and future fixed and movable assets of

Chandrapura TPS (Unit no 7&8) as first charge, ranking pari Passu among

the lenders (Consortium of Banks).




Rs. in Crore

As at


As at 31.03.2019 As at 31.03.2018

1,876.72 278.53 2,155.25 278.53

200.00 25.00

1,797.16 135.63 1,932.79 135.64

631.97 52.66 684.63 52.66

245.55 327.40 572.95 327.40

0.41 40.86 - -

5) Additional term loan from WBIDFCL for construction of Railway Track,

Water System, Township etc for Raghunathpur Thermal Power Station.

Secured by pari-passu charge on plant & machinery, machinery spares, tool

& accessories and other assets of RTPS.

4) Project Loan for Raghunathpur Thermal Power Station, Phase-I (Unit no

1&2), Secured by way of Hypothecation of present and future fixed and

movable assets of Raghunathpur TPS Phase-I, ( Unit no 1&2) as first charge,

ranking pari Passu among the lenders (PFC and West Bengal Infrastructure

Development Finance Corporation Ltd).

6) Project Loan from PFC for Durgapur Steel TPS (Unit no 1&2), Secured by

way of Hypothecation of present and future Fixed and movable Assets of

DSTPS ( Unit no 1&2).

8) Project Loan for Mejia TPS (Unit no 7&8), Secured by way of

Hypothecation of present an future fixed and movable Assets of Mejia TPS

(Unit no 7&8) as first charge, ranking pari Passu among the lenders

(Consortium of Banks).

7) Project Loan for T&D Projects of DVC secured by way of hypothecation

of present and future fixed and movable assets of T&D Projects of DVC.

Sole lender is REC.

9) Additional Term Loan for MTPS for construction of Railway Track, Ash

Pond and Other Construction works (Consortium of Banks). Secured by a

charge on those assets of MTPS.




Rs. in Crore

As at


As at 31.03.2019 As at 31.03.2018

2,374.29 155.69 2,285.95 140.67

1,618.75 113.60 1,732.34 113.60

1,061.09 74.46 1,012.13 66.37

14,582.50 1,254.04 15,202.81 1,231.05

- 4.19

GOI Loan for DRIP 53.58 - 37.20

2.04 0.29 2.33 0.29

Total ( Secured Loan ) ( A)

RVP Loan from GOI

10) Project Loan for BTPS A taken from REC, Secured by way of

Hypothecation of present and future fuxed and movable Assets of BTPS A

as first charge

12) Project Loan from PFC for KTPS for financing the enhanced project cost,

secured by way of hypothecation of present and future assets of KTPS

11) Project Loan from PFC for KTPS, secured by way of hypothecation of

present and future assets of KTPS

B. Details of Unsecured Loans (Long-Term)

Foreign Currency Loan ( Guaranteed by GOI- EXIM Bank Loan)




Rs. in Crore

As at


As at 31.03.2019 As at 31.03.2018

Unsecured Bonds - - - -

2,600.00 - 2,600.00 -

2,655.62 0.29 2,639.53 4.48

17,238.12 1,254.33 17,842.34 1,235.53

Notes

8.69% Bonds Guaranteed by GOI

Grand Total ( A+B)

i) Secured long term rupee loans carry fixed/ floating rate of interest ranging from 8.55% p.a to 10.3% p.a with monthly/ quarterly/ half yearly rests. These loans are

repayable in quarterly/ half yearly/ annual installments as per the respective loan agreements. The repayment period extends from ten to fifteen years after a

moratorium period of three and half years.

ii) Unsecured rupee loan from GOI under RVP scheme carry fixed rate of interest of 9% p.a. with monthly rests. Repayable in Annual installments for 20 years.

iii) Loan from Exim Bank, USA taken for Maithon Gas Turbine amounting to US $ 1,28,94,106.07 was borrowed @ 2% p.a, repayable in 40 semi annual instalments

commencing from July 1999. The loan has been repaid in full in January 2019. During the year exchange fluctuation amounting to Rs. 0.31 Crs. (previous year Rs. 0.09

Crs.) has been adjusted with the Loan account and corresponding Statement of Profit & Loss.

Total ( Unsecured Loan) (B)



5. Deferred Tax LiabilitiesRs. in Crore

As at


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total Power Irrigation Flood

Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Deferred Tax Liabilities 516.34 516.34 516.34 - - - - - 516.34

Add Deferred Tax

Liabilities 2,220.43 2,220.43 2,220.43 - - - - - 2,220.43

Less Deferred Tax Assets 2,736.77 2,736.77 2,220.43 - - - - - 2,220.43

Total - - - - - - - 516.34 - - - - - 516.34

Note

6. Other Long Term LiabilitiesRs. in Crore

As at


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Trade Payable (Long

term)

Payable for Capital

Expenditure by Govt. - 73.48 - - - - 73.48 - 167.37 - - - - 167.37

Security Deposit &

Retention (Non current) 613.31 11.64 - - 0.21 - 625.16 405.11 10.53 - - 0.21 - 415.85

Interest Payable to

Participating Govt. 39.47 29.56 0.60 - - - 69.63 61.39 26.68 0.60 - - - 88.67

Govt Grant PSDF for

Acquiring Fixed Assets 38.29 - - - - - 38.29 16.86 16.86

Payable for Capital

Expenditures (Non

Current) 2.90 - - - - - 2.90 3.43 - - - - - 3.43

Total 693.97 114.68 0.60 - 0.21 - 809.46 486.79 204.58 0.60 - 0.21 - 692.18

31.03.2019 31.03.2018

Deferred Tax Assets on Unabsorbed Depreciation and brought forward Buisness Loss has been considered partly to the extent of Deferred Tax Liability arising on account of Timing Difference of

Depreciation.

31.03.2019 31.03.2018



Note

7. Long Term ProvisionsRs. in Crore

As at


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Long-term Provisions -

Others 4.81 4.81 4.81 - - - - - 4.81

Provision for Leave

Encashment 87.59 87.59 - - - - - 87.59 87.59

Add: Liabilities for

Current Year 61.44 61.44 - - - - - 54.79 54.79

Less: Benefits Paid 61.44 61.44 - - - - - 54.79 54.79

Closing Balance 4.81 - - - - 87.59 92.40 4.81 - - - - 87.59 92.40

8. Short Term BorrowingsRs. in Crore

As at


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Bank (Cash Credit) 3,791.45 - - - - - 3,791.45 2,893.54 - - - - - 2,893.54

Line of Credit (Short

Term Bank Borrowings) 5,100.00 - - - - - 5,100.00 4,100.00 - - - - - 4,100.00

Total 8,891.45 - - - - - 8,891.45 6,993.54 - - - - - 6,993.54

Interest on Capital : In terms of Section 38 of the DVC Act, the Corporation shall pay interest on the amount of Capital provided by the Participating Governments at such rate as may, from time to time, be

fixed by the Central Government and such interest shall be deemed to be part of the expenditure of the Corporation. Accordingly, DVC has considered interest as a statutory expenditure during 2018-19 at

the Rate of 5.75% p.a., as last rate fixed by the Central Government, on the Net Capital provided by the Participating Governments after adjustment of accumulated losses.

31.03.2019 31.03.2018

31.03.2019 31.03.2018

Short Term Bank Borrowing (Cash Credit):

Short term bank borrowing (Cash Credit) of Rs. 3,791.45 Crs. (previous year was Rs.2,893.54 Crs.) for working capital, Secured against Hypothecation of Stock of Raw material, Consumable stores and Book

Debts of O&M Projects of the Corporation as first charge, both present and future.

Short Term Bank Borrowing (Line of Credit):

Short term Line of Credit of Rs.5,100Crs. for financing overdues of Jharkhand State Electricity Board (previous year was Rs. 4,100 Crs.) of which includes Canara Bank Rs 1,250 Crs , Union Bank of India Rs.

200 Crs., Bank of India Rs 1,500 Crs., Syndicate Bank Rs 100 Crs.,Andhra Bank Rs.500 Crs., Vijaya Bank Rs. 900 Crs., PNB Rs. 450 Cr., Punjab & Sind Bank Rs. 100 Cr. and WB Co-Op Bank Rs. 100 Cr.) is

secured against subservient charge on residual value of Fixed Asset. Interest rate varies from 8.45% to 9.55% p.a. repayable within six months to one year.



9. Trade Payable

Rs. in Crore

As at


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Fuel 3,119.80 - - - - - 3,119.80 3,945.23 - - - - - 3,945.23

Purchase of Power & UI 417.48 - - - - - 417.48 243.50 - - - - - 243.50

Works Contracts 36.19 0.03 - - 0.20 0.45 36.87 27.45 0.03 - - 0.07 0.08 27.63

Consumables Supply &

Others Misc 244.17 - - 0.20 2.57 7.30 254.24 390.40 - - 0.08 4.66 8.47 403.61

Total 3,817.64 0.03 - 0.20 2.77 7.75 3,828.39 4,606.58 0.03 - 0.08 4.73 8.55 4,619.97

31.03.2019 31.03.2018



10. Other Current Liabilities

Rs. in Crore

As at

Particulars

Power Irrigation Flood

Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Interest Accrued but not due

on borrowing 162.29 - - - - 0.06 162.35 168.62 - - - - 0.06 168.68

Interest Payable to Lenders 0.08 - - - - - 0.08 1.35 - - - - - 1.35

Payable for Capital Goods

Supply and Capital Works 292.04 0.02 - 0.06 - 0.19 292.31 232.04 0.02 - 0.06 - 0.10 232.22

Advance from Consumers and

Others 1.01 - - - - - 1.01 0.59 - - - - - 0.59

Deposit, Retention Money 597.53 0.06 - 2.91 5.96 17.99 624.45 738.34 0.05 - 2.79 6.50 22.98 770.66

TDS (Income Tax) Payable 9.15 - 0.21 0.53 0.95 - 10.84 7.35 0.02 0.12 0.46 0.66 0.30 8.91

Co-Operative Society 0.02 - - 0.01 - - 0.03 0.03 - - 0.01 - - 0.04

Professional Tax 0.27 - - 0.02 - - 0.29 0.26 - - 0.02 - - 0.28

Electricity Duty 164.80 - - - - - 164.80 201.03 - - - - - 201.03

Sales & Commercial Taxes 8.45 0.03 - 0.05 0.31 - 8.84 4.64 0.03 - 0.03 0.90 - 5.60

ESI Recovery - - - - - - - - - - - - 0.01 0.01

Family Welfare Scheme 1.68 - - 0.05 0.11 - 1.84 1.00 - - 0.04 0.03 0.37 1.44

Retrenchment Benefit 4.45 - - - - - 4.45 4.25 - - - - - 4.25

Amount Payable to Pension

Trust 140.80 140.80 - - - - - 413.96 413.96

Compassionate Fund for HB - - - - - 0.69 0.69 - - - - - 0.69 0.69

Salaries Wages Payable 42.42 0.01 0.04 0.04 0.03 0.01 42.55 128.70 - 0.04 1.30 1.38 5.18 136.60

31.03.2019 31.03.2018



10. Other Current Liabilities

Rs. in Crore

As at

Particulars


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

31.03.2019 31.03.2018

Deposit Work -REP-Current

Liabilities 1,151.43 - - - - - 1,151.43 1,151.43 - - - - - 1,151.43

Building & Const Workers

Welf Cess 0.13 - - 0.01 - - 0.14 0.38 - - - 0.16 - 0.54

Other Misc Liabilities -

General 385.05 - - 3.72 6.59 38.62 433.98 333.81 - - 3.35 2.80 27.75 367.71

Estimated Provident Fund

Contribution Liability 0.26 - - - - 83.86 84.12 0.23 - - - - 0.43 0.66

SubTotal 2,821.06 0.12 0.25 7.40 13.95 282.22 3,125.00 2,974.05 0.12 0.16 8.06 12.43 471.83 3,466.65

Unmatched Liability -

Provident Fund and Provident

Fund Investment - - - - - -

Provident Fund - - - - - 991.49 991.49 - - - - - 1,046.51 1,046.51

Less: Provident Fund

Investment - - - - - 969.55 969.55 - - - - - 930.22 930.22

SubTotal - - - - - 21.94 21.94 - - - - - 116.29 116.29

Add : Current Maturity of

Long Term Borrowings - From

Note -4 1,254.04 - - 0.29 - - 1,254.33 1,235.24 - - 0.29 - - 1,235.53

Total 4,075.10 0.12 0.25 7.69 13.95 304.16 4,401.27 4,209.29 0.12 0.16 8.35 12.43 588.12 4,818.47



11. Short Term ProvisionsRs. in Crore

As at


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Provision for employee

benefits

As per last balance sheet - - - - - 14.37 14.37 0.12 - - - - 0.02 0.14

Additions during the year 34.01 - - - 0.03 0.02 34.06 - - - - - 14.37 14.37

less: Amounts adjusted during

the year - 0.12 - - - - 0.02 0.14

Sub Total: 34.01 - - - 0.03 14.39 48.43 - - - - - 14.37 14.37

Provision for tariff adjustment

As per last balance sheet 151.02 - - - - - 151.02 151.02 - - - - - 151.02

Additions during the year - -

less:Amounts adjusted during

the year - - - -

Sub Total: 151.02 - - - - - 151.02 151.02 - - - - - 151.02

Provision for Compensation-

in lieu of Compassionate

Employment

As per last balance sheet - - - - - 27.54 27.54 - - - - - 27.54 27.54

Sub Total: - - - - - 27.54 27.54 - - - - - 27.54 27.54

Total 185.03 - - - 0.03 41.93 226.99 151.02 - - - - 41.91 192.93

31.03.2019 31.03.2018



12. Fixed Assets- Tangible & Intangible Assets

Rs. in Crore

Net Block

As at 31.03.2018 Additions/

Adjustments

As at 31.03.2019 As at 31.03.2018 Additions/

Adjustments

As at 31.03.2019 As at 31.03.2019

i) Tangible Assets

Land & Land Rights 1,406.90 239.64 1,646.54 6.69 12.97 19.66 1,626.88

Buildings 3,896.14 30.18 3,926.32 1,542.45 238.59 1,781.04 2,145.28

Road Culverts & Rly. Sidings 926.05 9.38 935.43 233.53 29.29 262.82 672.61

Dam and Spillway 38.13 38.13 22.91 0.75 23.66 14.47

Barrage, Gates & Others 1,501.24 19.67 1,520.91 571.69 106.79 678.48 842.43

Regulators,Lock Falls Etc. 12.84 - 12.84 9.55 0.36 9.91 2.93

Canals & Service Roads 315.10 - 315.10 39.30 10.36 49.66 265.44

Plant & Machinery 30,447.60 286.98 30,734.58 11,438.58 2,246.80 13,685.38 17,049.20

Less: Impairment 35.23 35.23 - - - 35.23

Net Plant & Machinery 30,412.37 286.98 30,699.35 11,438.58 2,246.80 13,685.38 17,013.97

Plant & Machinery(Mining &

Ropeway) 0.85 0.85 0.34 0.34 0.51

Sub Station Equip 1,356.72 6.92 1,363.64 866.85 71.92 938.77 424.87

Switch Gear 480.79 3.47 484.26 218.60 31.24 249.84 234.42

Gross Block Depreciation Block

Particulars



12. Fixed Assets- Tangible & Intangible Assets

Rs. in Crore

Net Block

As at 31.03.2018 Additions/

Adjustments

As at 31.03.2019 As at 31.03.2018 Additions/

Adjustments

As at 31.03.2019 As at 31.03.2019

Gross Block Depreciation Block

Particulars

Tower Poles & Fixtures 1,359.80 25.06 1,384.86 565.88 89.93 655.81 729.05

Construction Equipment 27.72 - 27.72 19.30 2.16 21.46 6.26

Other Assets 353.67 4.30 357.97 278.67 14.51 293.18 64.79

Assets Held for Disposal (FA) 98.17 (0.59) 97.58 - - 97.58

Total Fixed Asset Cost (Historical Value) 42,186.49 625.01 42,811.50 15,814.34 2,855.67 18,670.01 24,141.49

Revaluation of Assets - Increase in Assets

Value 15,461.04 15,461.04 10,333.72 10,333.72 5,127.32

Gross Total Fixed Asset Cost (Historical &

Revaluation Value) 57,647.53 625.01 58,272.54 26,148.06 2,855.67 29,003.73 29,268.81

Less: Provision against loss on Fixed

Assets 180.47 180.47 - - 180.47

Net Total Fixed Asset Cost (Historical &

Revaluation Value) 57,467.06 625.01 58,092.07 26,148.06 2,855.67 29,003.73 29,088.34

Previous Year 57,433.96 33.10 57,467.06 23,734.12 2,413.94 26,148.06 31,319.00

ii) Intangible Assets 15.12 4.42 19.54 4.99 1.15 6.14 13.40

Previous Year 6.14 8.98 15.12 3.84 1.15 4.99 10.13



13. Capital Work- in- Progress & Intangible Assets under Development

Rs. in Crore

Particulars As at 31.03.2018 Additions/ Adjustments As at 31.03.2019

i) Capital Work- in- Progress

Land & Land Rights 140.62 (140.29) 0.33

Buildings 126.52 98.31 224.83

Road Culverts & Rly. Sidings 389.24 122.08 511.32

Dam and Spillway 58.00 22.16 80.16

Barrage, Gates & Others 0.24 - 0.24

Power House Plant & Machinery 86.54 16.77 103.31

Sub Station Equip 117.47 21.73 139.20

Tower Poles & Fixtures 186.53 78.89 265.42

Renovation & Upgradation of Transmission System - 12.37 12.37

Other Assets 0.51 (0.01) 0.50

Incidental Exp. During Con. (WIP) -Overhead 93.53 (29.37) 64.16



13. Capital Work- in- Progress & Intangible Assets under Development

Rs. in Crore

Particulars As at 31.03.2018 Additions/ Adjustments As at 31.03.2019

Interest During Construction - 5.79 5.79

Preliminary Survey & Investigation & Clg Overhead - Old Ledgers 31.50 0.39 31.89

New Thermal Projects-Turnkey -EPC 364.18 (208.01) 156.17

New Thermal Projects-Turnkey -Non EPC 131.71 (12.03) 119.68

Capital Stock - Construction and O&M Projects 65.50 26.36 91.86

Development of Coal Block 165.92 38.59 204.51

Total CWIP Asset Value 1,958.01 53.73 2,011.74

Previous Year 1,728.52 229.49 1,958.01

ii) Intangible Assets under Development

IT Software - -

Total Intangible Asset under Development - - -

Previous Year - - -



14. Non Current Investments

Rs. in Crore

As at

Investments in Power Irrigation Flood

Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Equity (fully paid up-

unless otherwise stated)

JV Companies 547.23 - - - - 547.23 580.90 - - - - - 580.90

other companies 10.00 - - - - - 10.00 10.00 - - - - - 10.00

Total 557.23 - - - - - 557.23 590.90 - - - - - 590.90

15. Long Term Loans & AdvancesRs. in Crore

As at


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Capital Advances

Unsecured considered

good 678.68 - - - 0.47 3.93 683.08 561.71 - - - - 3.93 565.64

Security Deposits-

Unsecured - -

Deposits - Unsecured,

considered good 7.92 - - - 0.20 1.08 9.20 7.17 - - - 0.20 1.01 8.38

Loans

Loans to Employees -

Secured 0.04 - - 0.01 0.02 0.02 0.09 0.04 - - 0.01 0.02 0.03 0.10

Total 686.64 - - 0.01 0.69 5.03 692.37 568.92 - - 0.01 0.22 4.97 574.12

31.03.2019 31.03.2018

31.03.2019 31.03.2018



16. Other Non Current Assets

Rs. in Crore

As at

Particulars


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Unamortized Expenses - -

Total - - - - - - - - - - - - - -

17. Current InvestmentRs. in Crore

As at

Particulars


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Investments in Equity

Instruments - - -

Investments in Short-

term Deposits with Bank

and FIs 4.31 4.31 4.11 4.11

Total 4.31 - - - - - 4.31 4.11 - - - - - 4.11

31.03.2019 31.03.2018

31.03.2019 31.03.2018



18. Inventories

Rs. in Crore

As at

Particulars


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Stock

Fuel Oil 92.20 - - - - - 92.20 59.04 - - - - - 59.04

Fuel Coal 618.19 - - - - - 618.19 251.72 - - - - - 251.72

Loose Tools 1.06 - - 0.04 0.01 - 1.11 1.06 - - 0.03 0.01 - 1.10

Others 0.19 - - - - - 0.19 0.03 - - - 0.03 0.02 0.08

Stores & Spares 835.54 - - 0.55 0.75 3.11 839.95 825.39 - - 0.55 0.77 3.10 829.81

Naptha 0.33 - - - - - 0.33 0.33 - - - - - 0.33

Less: Provisions for

Shortage, Obsolescence,

etc. 186.49 - - 0.04 0.49 1.80 188.82 186.23 - - 0.04 0.49 1.80 188.56

Total 1,361.02 - - 0.55 0.27 1.31 1,363.15 951.34 - - 0.54 0.32 1.32 953.52

Notes

Inventories

1. Stock of coal and oil are valued at cost.

2. Realisable value of disposable/unusable stores will be assessed.

3. Values of insurance spares as included in inventories are not separately identified.

4. Stores & Spares includes Stock-in-Transit for Rs. 0.33 Cr.

31.03.2019 31.03.2018



19. Trade RecivablesRs. in Crore

As at

Particulars


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Debts outstanding for a

period exceeding six

months

Unsecured considered

good 4,930.41 64.20 - - - - 4,994.61 3,290.38 72.37 - - - - 3,362.75

Considered doubtful 936.27 67.64 - - - - 1,003.91 852.26 41.62 - - - - 893.88

Less: Provision for Bad

& Doubtful Debts 936.27 67.64 - - - - 1,003.91 852.26 41.62 - - - - 893.88

Debts outstanding for a

period not exceeding six

months

Other Debts-Unsecured -

considered good 2,219.37 3.55 - - - - 2,222.92 2,368.90 6.74 - - - - 2,375.64

Considered doubtful - -

Less: Provision for Bad

& Doubtful Debts - -

Total 7,149.78 67.75 - - - - 7,217.53 5,659.28 79.11 - - - - 5,738.39

Notes

Sundry Debtors

2. Total outstanding amount of Rs. 135.39 Crs. (previous year Rs. 120.73 Crs. ) for water supply as on 31.03.2019 does not include unbilled revenue Rs 5.66 Crs (previous year Rs. 5.89 Crs.)

Out of total dues of Rs. 135.39 Cr. (previous year Rs. 120.73 Crs. ) an amount of Rs. NIL (previous year Rs. 2.12 Crs. ) is due from the Government of West Bengal.

31.03.2019 31.03.2018

1. Total outstanding amount of Rs 8,086.05 Crs. ( previous year Rs. 6,511.54 Crs.) as on 31.03.2019 on account of sundry debtors for power supplied does not include unbilled revenue of Rs.

1,463.07 Crs.(previous year Rs. 1,854.76 Crs.)



20. Cash & Cash Equivalent

Rs. in Crore

As at

Particulars


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Cash & Cash Equivalents

Current Account 19.10 - - - 1.98 78.13 99.21 13.92 - - - 1.23 49.40 64.55

Cash Balance 0.07 - - - 0.02 - 0.09 0.10 - - - 0.02 - 0.12

Imprest 0.09 - - 0.01 - 0.06 0.16 0.08 - - 0.01 - 0.05 0.14

Cash in Transit - -

Cash & Cash Equivalent- as

per AS 3 19.26 - - 0.01 2.00 78.19 99.46 14.10 - - 0.01 1.25 49.45 64.81

Other Bank Balances

Bank Deposits with more

than three months Maturity - -

Total 19.26 - - 0.01 2.00 78.19 99.46 14.10 - - 0.01 1.25 49.45 64.81

31.03.2019 31.03.2018



21. Short Term Loans & Advances

Rs. in Crore

As at

Particulars


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

A. Loans

i) Related Parties -

Un-Secured 6.00 - - - - - 6.00 -

Sub Total 6.00 - - - - - 6.00

ii) Employees

Secured - - - - - 0.05 0.05 - - - - 0.01 0.10 0.11

Un Secured 1.56 - - 1.14 0.05 0.84 3.59 - - - - - - -

Sub Total 1.56 - - 1.14 0.05 0.89 3.64 - - - - 0.01 0.10 0.11

B. Advances

i) Contractors & Suppliers,

including material issued on

loan

Unsecured(Considered Good) 1,474.35 - - 0.72 0.91 0.73 1,476.71 1,938.53 - - 0.72 0.92 1.03 1,941.20

Considered Doubtful 10.62 - - - 1.12 - 11.74 10.62 - - - 1.12 - 11.74

Less: Provision for Bad and

Doubtful Advances 10.62 - - - 1.12 - 11.74 10.62 - - - 1.12 - 11.74

Sub Total 1,474.35 - - 0.72 0.91 0.73 1,476.71 1,938.53 - - 0.72 0.92 1.03 1,941.20

ii) Advance tax deposit & tax

deducted at source 105.64 - - - - - 105.64 68.45 - - - - - 68.45

iii) Advance (Others) 0.11 - - - - 25.57 25.68 0.12 - - - - 7.39 7.51

iv) Related Parties- Unsecured 33.67 - - - - - 33.67

Total 1,621.33 - - 1.86 0.96 27.19 1,651.34 2,007.10 - - 0.72 0.93 8.52 2,017.27

31.03.2019 31.03.2018



22. Other Current Assets

Rs. in Crore

As at

Particulars


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Unbilled Revenue

Sale of Power 1,463.07 - - - - - 1,463.07 1,854.76 - - - - - 1,854.76

Unbilled Revenue

Sale of Water - 5.66 - - - - 5.66 - 5.89 - - - - 5.89

Interest Accrued on Bonds - - - - - - - -

on Term deposits 0.02 - - - - 0.02 0.04 0.02 - - - - - 0.02

on others - - - - - 28.07 28.07 - - - - - 20.60 20.60

Claims Recoverable

From Related Parties 28.33 - - - - - 28.33 28.16 - - - - - 28.16

Temporary advance 0.27 - - - 0.03 0.10 0.40 0.16 - - - 0.04 0.19 0.39

Deposit Work - REP - Current

Assets 1,156.09 - - - - - 1,156.09 1,156.09 - - - - - 1,156.09

Receivable from Non Core

Activities -Unsecured

Considered Good 2.88 - - 0.05 0.01 - 2.94 4.16 - - 0.05 0.01 1.74 5.96

Considered Doubtful - - - 0.74 - - 0.74 - - - 0.74 - - 0.74

Less: Provision for Loss against

other Receivables - - - 0.74 - - 0.74 - - - 0.74 - - 0.74

Sub Total 2.88 - - 0.05 0.01 - 2.94 4.16 - - 0.05 0.01 1.74 5.96

31.03.2019 31.03.2018



22. Other Current Assets

Rs. in Crore

As at

Particulars


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

31.03.2019 31.03.2018

Receivable from Misc Others -

Unsecured Considered Good 1,409.60 - - 0.42 1.65 52.85 1,464.52 1,462.46 - - 0.43 0.31 138.67 1,601.87

Considered Doubtful 93.93 - - - 0.89 - 94.82 47.45 - - - 0.89 - 48.34

Less: Provision for Loss against

other Receivables 93.93 - - - 0.89 - 94.82 47.45 - - - 0.89 - 48.34

Sub Total 1,409.60 - - 0.42 1.65 52.85 1,464.52 1,462.46 - - 0.43 0.31 138.67 1,601.87

Deposits- Secured 5.04 - - - 0.03 4.61 9.68 4.05 - - - 0.03 3.62 7.70

Total 4,065.30 5.66 - 0.47 1.72 85.65 4,158.80 4,509.86 5.89 - 0.48 0.39 164.82 4,681.44



23. Revenue from Operations

Rs. in Crore

For the year ended

Income from


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Supply of Power 15,489.18 - - - - - 15,489.18 14,865.86 - - - - - 14,865.86

Supply of Water - 128.53 - - - - 128.53 - 127.98 - - - - 127.98

Total 15,489.18 128.53 - - - - 15,617.71 14,865.86 127.98 - - - - 14,993.84

Notes

A. Tariff

31.03.2019 31.03.2018

a) Supreme Court vide its order dated 03.12.2018 in Civil Appeal No.4881 of 2010 (2nd Appeal) upheld the judgement of the Appellate Tribunal dated 10.05.2010 in Appeal No.146 of 2009(1st Appeal against CERC order dated 06.08.2009 w.r.t. generation and Transmission Tariff) related to the tariff period FY 2006-07 to FY 2008-09.

b) JSERC, in the meanwhile, issued retail tariff order (True-up for FY 2015-16, MYT 2016-21 including true up for 2006-07 to 2014-15) on 18.05.2018 wherein the State Commissiondetermined the Revenue Surplus of around Rs.1287 Crs. from FY 2006-07 to FY 2014-15 (including the aforesaid period of FY 2006-07 to FY 2008-09 considering the tariff allowed by CERCvide order dated 06.08.2009 which was the subject matter of Civil Appeal No.4881 of 2010). While arriving at such Revenue Surplus, JSERC purportedly disallowed some of the legitimateclaims of DVC and considered the carrying cost at compound rate of interest ignoring the mandate of the Electricity Act, 2003.

c) Aggrieved by such order of JSERC, DVC filed an Appeal Petition before the Appellate Tribunal for Electricity which is pending before the Tribunal. Moreover, the Revenue Surplus ofaround Rs.1287 Crs. as determined by JSERC includes a substantial part (around 40%) payable to JBVNL, dues for whom for the period from October, 2001 to September, 2015 has alreadybeen settled under the “Uday” Scheme of Govt. of India as full and final in which DVC has waived a substantial amount. Hence, the portion of Surplus amount, depending upon thejudgement of the Appellate Tribunal, on account of JBVNL is not legally refundable by DVC.



23. Revenue from Operations

B. Revenue from Operation- PowerRs. in Crore

Particulars 2018-19 2017-18

Firm Sale 8,120.57 9,024.37

Bi- lateral Export 5,361.28 4,911.38

STOA 1,258.42 313.76

Sale through Exchange & Others 748.91 616.35

Total 15,489.18 14,865.86

d) WBERC is yet to determine the Revenue Gap/Surplus for the tariff period FY 2006-07 to FY 2008-09 for which impact of the same is unknown as on date. Further,

WBERC in its order dated 24.08.2015, decided to retain the accumulated Revenue Gap to be considered for adjustment after finalisation of APR for FY 2009-10 to FY 2012-

13. Power Supply bills for firm consumers in the State of West Bengal are being raised based on the WBERC order dated 03.03.2017 for the period FY 2016-2017. No

further retail tariff order of WBERC has yet been received.

F. Electricity duty on power sale amounting to Rs.220.51 Crs. (previous year Rs.284.65 Crs.) has been reduced from sales in the statement of profit and loss.

e) While issuing the final Tariff order for the period 2009-14(True-up) and Provisional Tariff order for 2014-19 period for each thermal & Hydel Generating Station as

well as T & D system, CERC did not consider the claim of DVC on Pension & Gratuity (P & G) account to be recovered through tariff. Not being satisfied with those

orders, DVC preferred to file Appeal Petition before Appellate Tribunal for Electricity which are still in the process of hearing. However, DVC has also filed a

miscellaneous Petition before CERC claiming the expenditure on P & G account for the period 2014-19 to be recovered through Tariff. Hearing for the said Petition at

CERC is complete and order is reserved.

D. Water tariff for supply of water for Industrial use has been revised and bills were raised on the basis of metered / extracted quantity at revised rate with effect from

October’2012.

E. Water Tariff for domestic supply remains unaltered.

C. Power sale through Exchange are made on Day Ahead basis and rates are determined through bidding process.



24. Other Income

Rs. in Crore

For the year ended

Particulars


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Revenue from Non-Core

Activities - - - 0.04 - 0.04 0.08 0.02 - - 0.03 - 0.05 0.10

a) Interest

from Employees Loan and

Advances 0.45 - - - - 0.25 0.70 0.59 - - - - 0.17 0.76

from Non Current

Investment 1.70 - - - - - 1.70 1.36 - - - - - 1.36

on IT Refund - 123.87 - - - - - 123.87

Intt. on Bonanja A/C 0.61 - - - - - 0.61 - - - - - - -

Intt on Security Deposit-

Other than Purchase of

Power - - - - - 0.03 0.03 - - - - - 0.03 0.03

Intt on Security Deposit -

Purchase of Power - 0.19 - - - - - 0.19

Intt on Short Term Deposit 0.67 - - - - 0.04 0.71 0.04 - - - - 0.02 0.06

b) Dividend

Dividend - Non Current

Investment 54.14 - - - - - 54.14 27.28 - - - - - 27.28

31.03.2019 31.03.2018



24. Other Income

Rs. in Crore

For the year ended

Particulars


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

31.03.2019 31.03.2018

c) Other non-operating

Income

Delay Payment Surcharge 324.08 - - - - - 324.08 616.96 - - - - - 616.96

Income from Service

Charges 0.05 - - - - - 0.05 0.04 - - - - - 0.04

Profit on Disposal of Fixed

Assets 3.90 - - - 1.39 - 5.29 0.79 - - - - - 0.79

Provision - Written Back -

Doubtful Debts - 58.86 - - - - - 58.86

Provision - Income Tax -

Written Back - 228.75 - - - - - 228.75

Other Misc. Income 34.07 0.12 - 1.09 0.30 11.64 47.22 54.76 0.29 - 1.04 0.42 8.61 65.12

Sub Total- Direct 419.67 0.12 - 1.13 1.69 12.00 434.61 1,113.51 0.29 - 1.07 0.42 8.88 1,124.17

Sh. of Rev. Income

Inter Head Transfer 13.72 0.51 0.60 (1.13) (1.69) (12.00) 0.01 9.91 0.25 0.20 (1.07) (0.42) (8.88) (0.01)

Common Service (0.10) - - - - - (0.10) (0.06) - - - - - (0.06)

Capitalized (1.20) - - - - - (1.20) (0.11) - - - - - (0.11)

Total Share 12.42 0.51 0.60 (1.13) (1.69) (12.00) (1.29) 9.74 0.25 0.20 (1.07) (0.42) (8.88) (0.18)

Total - Direct & Share 432.09 0.63 0.60 - - - 433.32 1,123.25 0.54 0.20 - - - 1,123.99

Notes: Delay Payment Surcharge has been accounted for based on CERC and SERC Regulations.



25. Cost of Power Purchased

Rs. in Crore

For the year ended

Particulars


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Scheduled Purchase 1,088.44 - - - - - 1,088.44 796.58 796.58

Transmission &

Reactive Charges 117.50 - - - - - 117.50 107.61 107.61

UI Import 201.67 - - - - - 201.67 48.19 48.19

Purchase of Power

through Exchange 0.12 - - - - - 0.12 -

Total 1,407.73 - - - - - 1,407.73 952.38 - - - - - 952.38

26. Cost of Fuel

Rs. in Crore

For the year ended

Consumption


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Coal 8,041.32 8,041.32 7,220.30 7,220.30

Oil 101.39 101.39 106.14 106.14

Total 8,142.71 - - - - - 8,142.71 7,326.44 - - - - - 7,326.44

31.03.2019 31.03.2018

31.03.2019 31.03.2018



27. Employee Benefit Expenses

Rs. in Crore

For the year ended

Particulars


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Salary, Wages & Allowances

Basic Pay 518.91 - 0.49 9.30 3.82 102.89 635.41 410.68 - 0.40 9.87 8.48 103.16 532.59

Dearness Allowance 48.64 - 0.04 0.92 0.53 8.47 58.60 71.51 - 0.06 1.45 0.98 12.64 86.64

House Rent Allowance 18.54 - - 0.45 0.15 12.00 31.14 14.97 - - 0.38 0.15 9.64 25.14

Field Compensatory Allowance 43.12 - 0.03 0.73 0.64 3.36 47.88 41.73 - 0.03 0.78 0.67 3.39 46.60

Other Allowances 96.30 - 0.03 1.75 1.58 20.91 120.57 99.75 - 0.05 2.04 1.26 18.85 121.95

Sub Total 725.51 - 0.59 13.15 6.72 147.63 893.60 638.64 - 0.54 14.52 11.54 147.68 812.92

Contribution To Provident Fund 25.82 - 0.02 0.09 0.32 2.74 28.99 20.13 - 0.02 0.06 0.30 2.79 23.30

Contribution to PG Fund 1.57 - - - - 140.80 142.37 2.17 - - - - 763.96 766.13

CPF-GPF Interest Payable - - - - - 83.67 83.67 - - - - - 74.73 74.73

Less: Interest Recoverable on

Investment - - - - - (86.70) (86.70) - - - - - (64.77) (64.77)

Sub Total 27.39 - 0.02 0.09 0.32 140.51 168.33 22.30 - 0.02 0.06 0.30 776.71 799.39

31.03.2019 31.03.2018



27. Employee Benefit Expenses

Rs. in Crore

For the year ended

Particulars


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

31.03.2019 31.03.2018

Welfare Expenses

Staff- Welfare 13.62 - - - 0.18 6.95 20.75 12.83 - - 0.01 0.30 6.66 19.80

Compensation 0.90 - - 0.15 - 0.54 1.59 0.65 - - - 0.55 0.65 1.85

Consumables -Medicine and

Medical Reimbursement 18.97 - - 0.37 0.49 26.03 45.86 17.68 - - 0.32 0.39 22.30 40.69

Sub Total 33.49 - - 0.52 0.67 33.52 68.20 31.16 - - 0.33 1.24 29.61 62.34

Provision for Leave Encashment 33.84 - - - - - 33.84 - - - - - - -

Sub Total 33.84 - - - - - 33.84 - - - - - - -

Total Direct Emp Cost 820.23 - 0.61 13.76 7.71 321.66 1,163.97 692.10 - 0.56 14.91 13.08 954.00 1,674.65

Sh of Emp. Rem.

Inter Head Transfer 339.41 1.40 2.47 (13.76) (7.71) (321.81) - 954.75 13.88 13.55 (14.91) (13.08) (954.19) -

Bermo (12.73) - - - - - (12.73) (13.59) - - - - - (13.59)

CSO (0.28) - - - - 0.15 (0.13) (0.27) - - - - 0.19 (0.08)

Capitalized (54.14) - - - - - (54.14) (42.89) - - - - - (42.89)

Total Share 272.26 1.40 2.47 (13.76) (7.71) (321.66) (67.00) 898.00 13.88 13.55 (14.91) (13.08) (954.00) (56.56)

Total - Direct & Share 1,092.49 1.40 3.08 - - - 1,096.97 1,590.10 13.88 14.11 - - - 1,618.09



28. Finance Costs

Rs. in Crore

For the year ended

Particulars


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Interest on

Banks 689.89 - - - - - 689.89 660.05 - - - - - 660.05

Others 1.87 - - - - - 1.87 1.03 - - - - - 1.03

Sinking Fund 143.37 - - - - - 143.37 113.79 - - - - - 113.79

Term Loan 1,154.54 - - - - - 1,154.54 1,268.08 - - - - - 1,268.08

Foreign Currency Loan 0.05 - - - - - 0.05 0.13 - - - - - 0.13

Bonds 635.14 - - 0.24 - - 635.38 635.14 - - 0.26 - - 635.40

Capital 44.36 24.67 0.60 - - - 69.63 66.28 21.79 0.60 - - - 88.67

Sub Total 2,669.22 24.67 0.60 0.24 - - 2,694.73 2,744.50 21.79 0.60 0.26 - - 2,767.15

31.03.2019 31.03.2018



28. Finance Costs

Rs. in Crore

For the year ended

Particulars


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

31.03.2019 31.03.2018

Other Borrowing Cost

Bonds Servicing Expenses 0.19 - - - - - 0.19 0.26 - - - - - 0.26

Guarantee Fee 70.05 - - - - - 70.05 66.25 - - - - - 66.25

Other Misc Borrowing Expenses 2.77 - - - - - 2.77 48.76 - - - - - 48.76

Sub Total 73.01 - - - - - 73.01 115.27 - - - - - 115.27

Total Direct Expenses 2,742.23 24.67 0.60 0.24 - - 2,767.74 2,859.77 21.79 0.60 0.26 - - 2,882.42

Inter Head Transfer 0.26 (0.02) - (0.24) - - - 0.26 - - (0.26) - - -

Total Share 0.26 (0.02) - (0.24) - - - 0.26 - - (0.26) - - -




29. Operation & Maintenance and General Administration Charges

Rs. in Crore

For the year ended

Particulars


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total Power Irrigation Flood Control Subsidiary

Activities

Multipurpose

Dams

Over head

Activities

Total

Consumption of Stores and

Spare Parts 181.40 - - 0.35 0.26 0.38 182.39 170.68 - - 0.38 0.34 0.37 171.77

Repairs & Maintainance

Bulidings 51.01 - - 0.54 0.61 1.45 53.61 46.80 - - 0.02 0.57 1.32 48.71

Plant & Machinery 208.86 - - 5.01 - 0.08 213.95 164.85 - - 1.15 - 0.05 166.05

Construction Equipment 14.08 - - - - 0.01 14.09 5.41 - - - - - 5.41

Others 135.78 - - 1.88 2.58 15.28 155.52 153.74 69.61 - 1.99 3.04 18.56 246.94

Water Charges 59.98 - - - - - 59.98 57.65 - - - - 0.34 57.99

Taxes & Duties 5.37 - - 0.14 0.01 0.74 6.26 33.19 - - 0.20 0.15 2.01 35.55

Ash Evaquation and

Utilization Expenses 80.14 - - - - - 80.14 115.57 - - - - - 115.57

Telephone Charges 1.84 - - 0.02 0.02 0.31 2.19 1.96 - - 0.02 0.01 0.36 2.35

Official Language

Promotional Exp 0.05 - - 0.02 0.01 0.12 0.20 0.04 - - - - 0.11 0.15

Bank Charges 0.73 - - - - 2.42 3.15 2.37 - - - - 0.84 3.21

Legal Expenses 3.75 - - 0.02 0.01 5.10 8.88 7.76 - - 0.01 0.02 2.38 10.17

CISF and Other Security

Expenses 221.71 - - 0.41 0.58 40.02 262.72 197.14 - - 0.35 13.92 24.07 235.48

Environment Protection and

Other State Cess 0.32 - - - - - 0.32 0.16 - - - - - 0.16

31.03.2019 31.03.2018




Rs. in Crore

For the year ended

Particulars


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Activities

Multipurpose

Dams

Over head

Activities

Total

31.03.2019 31.03.2018

Repair & Maintenance and

Hiring of Vehicle 17.22 - - 0.20 0.31 2.42 20.15 17.52 - - 0.19 0.15 2.60 20.46

Insurance 7.57 - - 0.01 - 0.66 8.24 19.71 - - 0.01 - 0.73 20.45

Audit Charges 0.08 - - - - 6.88 6.96 0.07 - - - - 6.05 6.12

Rebate & Discount Allowed 126.32 - - - - - 126.32 104.84 - - - - - 104.84

SIP Expenses on Other

schemes 5.85 - - 1.08 0.70 0.34 7.97 5.76 - - 0.54 1.37 0.43 8.10

Gain/ Loss on Foreign

Currency Transaction -Other

than taken in Finance Cost 0.31 - - - - - 0.31 1.75 - - - - - 1.75

Misc. General Overhead 7.61 - - - 0.01 0.51 8.13 0.43 - - - 0.02 0.39 0.84

Jubilee & Other Celebration

Exp 0.10 - - - - - 0.10 0.07 - - - - - 0.07

Printing & Stationary 1.07 - - 0.02 0.04 0.65 1.78 0.99 - - 0.01 0.05 0.74 1.79

Postage & Telegraph 0.34 - - - - 0.05 0.39 0.22 - - - - 0.06 0.28

Rent 0.31 - - - - 0.77 1.08 0.22 - - - - 1.81 2.03




Rs. in Crore

For the year ended

Particulars


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Activities

Multipurpose

Dams

Over head

Activities

Total

31.03.2019 31.03.2018

Publicity & Advertisement 2.61 - - 0.02 - 0.66 3.29 3.37 - - 0.02 - 0.50 3.89

Entertainment 0.43 - - - 0.03 0.94 1.40 0.47 - - - 0.03 0.30 0.80

Outsourced Computerised

Job - - - - - - - 0.06 - - - - - 0.06

Other General Office

Expenses 4.70 - 0.01 0.14 0.08 2.47 7.40 4.00 - 0.01 0.14 0.09 3.34 7.58

Electricity Charges to

Outside Service Providers 0.51 - - - - 1.70 2.21 0.90 - - - - 1.94 2.84

Professional and

Consultancy Charges 0.03 - - - - - 0.03 1.41 - - - - - 1.41

Brokerage and Commission 29.85 - - - - 0.01 29.86 22.97 - - - - 0.19 23.16

Meteorological Centre

Expenses - - - - 2.60 - 2.60 - - - - - 2.49 2.49

Loss on Sale of Fixed Assets -

written Off 0.79 - - - - - 0.79 0.03 - - - - - 0.03

Bad Debts - written off 0.99 - - - - - 0.99 39.43 - - - - - 39.43

Written off losses -others 0.02 - - - - - 0.02 29.50 - - - - - 29.50

Total Direct O&M Exp 1,171.73 - 0.01 9.86 7.85 83.97 1,273.42 1,211.04 69.61 0.01 5.03 19.76 71.98 1,377.43




Rs. in Crore

For the year ended

Particulars


Control

Subsidiary

Activities

Multipurpose

Dams

Over head

Activities


Activities

Multipurpose

Dams

Over head

Activities

Total

31.03.2019 31.03.2018

Provision for Loss On Fixed

Assets - 42.93 - - - - - 42.93

Provision for Doubtful

Claims and Advances (Rev

Exp) - 26.02 - - - - 26.02 - 5.72 - - - - 5.72

Provision for Doubtful

Debts (Rev Exp) 82.99 - - - - - 82.99 416.57 - - - - - 416.57

Provision for Shortage/

Obsolescence in stores (Rev

Exp) 0.24 0.24 1.28 - - - - - 1.28

Total Provisions 83.23 26.02 - - - - 109.25 460.78 5.72 - - - - 466.50

Sh of O&M Exp.

Transfer to Fuel (4.15) - - - - - (4.15) (50.58) - - - - - (50.58)

Capitalized (10.95) - - - - - (10.95) (4.41) - - - - - (4.41)

CSO (1.08) - - - - 0.02 (1.06) (0.59) - - - - 0.02 (0.57)

Bermo (3.35) - - - - - (3.35) (1.57) - - - - - (1.57)

Inter Head Transfer 96.26 2.15 3.29 (9.86) (7.85) (83.99) - 81.01 7.12 8.66 (5.03) (19.76) (72.00) -

Total Share 76.73 2.15 3.29 (9.86) (7.85) (83.97) (19.51) 23.86 7.12 8.66 (5.03) (19.76) (71.98) (57.13)




Disclosure

Employee Benefits

Accounting Methodology

2. New Pension Scheme: Corporation’s contribution at stipulated rate is charged to Profit & Loss Account and deposited regularly, as per guidelines of Pension

Fund Regulatory and Development Authority (PFRDA), on monthly basis in respect of employees who have joined on or after 01.01.2004.

Pursuant to Gazette Notification of Government of India vide O.M no. GI/Sectt/ Gazette Notification-1249 dated 12th November 2012, the Balance Sheet and

Statement of Profit & Loss of the Corporation is prepared on the basis of new formats as prescribed under Annexure – I & II of the Gazette Notification which is

in line with the requirements of the Revised Schedule VI under the Companies Act of 1956.

The amount of Exchange Difference (net) debited/(credited) to the Statement of Profit & Loss is Rs. 0.31 Crs.as against previous year credit of Rs. (0.09) Crs. on

account of Foreign Currency loan was taken for Maithon Gas Turbine Project.

3. Gratuity: Corporation has a defined benefit gratuity plan. Every employee who has rendered continuous service of five years or more is entitled to get

gratuity at 15 days salary (15/30 x last drawn Basic Salary +Dearness Allowance) for each completed year of service subject to a maximum of Rs.20 lakhs on

superannuation, resignation, termination, disablement or on death.

4. Pension: Corporation has a pension scheme as per the GOI rules for employees who have joined before 01.01.2004. The existing scheme is funded by the

Corporation and managed by a separate trust and liability has been recognized on the basis of actuarial valuation. The actuarial liability on account of pension

and gratuity up to March’2019 has been assessed at Rs. 6,194.20 Cr. The amount has been provided in full in the Accounts and the liability to the extent of Rs.6,053.40 Cr. has been paid to the Trust upto March,2019 and the balance amount of Rs.140.80 Cr . will be contributed during the FY 2019-20.

1. Revenue grants recognized during the year Rs. 0.60 crore (previous year Rs. 0.85 Crore) on account of Soil Conservation Training Scheme.

2. Grants received in earlier years on Capital Assets are distributed over the useful life of the Assets. The amount of Capital Grant as credited to the Statement of

Profit & Loss is Rs. 0.06 Crs. (previous year Rs. NIL).

1. Contributory Provident Fund: Corporation contributed at a predetermined rate to Contributory Provident Fund (CPF), which is charged to Profit & Loss

Account. The fund is managed by the Corporation and invested in Govt. Securities, PSU Bonds as per investment pattern of GOI notification. Corporation has to

ensure a minimum rate of return to the members as specified by the Govt. of India.

Disclosure as per Accounting Standard -12 on Accounting for Government Grant

Disclosure as per Accounting Sandard-11 on Effects of change in Foreign exchange Rates

Disclosure as per Accounting Standard -15 Employee Benefits



Disclosure

1. Related parties 2. Key Management Personnel

Maithon Power Limited S. Halder, Member (Finance)

DVC EMTA Coal Mines Ltd. P. Dutta, ED (Operation)

Damodar Valley Tourism Development Company Private Limited A. Debnath, ED (System)

Bokaro Power Supply Company (P) Limited S. N. Jha, ED (Fuel)

National High Power Testing Laboratory Private Limited A. K. Jha ED (System)

P. P. Chakraborty, Addl. Secretary

S. K. Dutta ED (Commercial)

B. N. Shah, ED (Fuel)

S. K. Seth, Sr. GM (Finance)

J. Mukherjee, Sr. GM (Finance)

C. B. Dey, DGM (Finance)

M. K. Singh, CE (Fuel)

Borrowing Cost capitalized during the year is Rs 5.79 Cr. (previous year Rs. NIL)

5. Earned leave is credited for 30 days annually, for each employee, which can be accumulated maximum up to 300 days at any point of service. Employee is

entitled to en-cash, once in particular calender year, 50% of his leave at his credit on the date intended to encash, subject to maximum of 20 days. On

superannuation, an employee is also entitled to en-cash unutilized earned leave up to 300 days.

Disclosure as per Accounting Standard -16 on Borrowing Cost

Disclosure as per Accounting Standard - 18 on ‘Related Party Disclosures



Disclosure

3. Transactions with related parties at 1 above are as follows: Rs. in Crore

Related Party

Contracts for

works/

Services

rendered by

the

Corporation

Loan/

Advance

Dividend

Received

Purchase of

Power/ Coal

Sale of

Power

Sale of

Water

Recoverable

for Contracts

for Works/

Services

rendered

Payable for

Contracts for

Works/

Services

received

Recoverable

on account of

deputation of

employees

Payable for

Purchase of

Power /

Coal

Recoverable

for Sale of

Power

Recoverable

for Sale of

Water

Maithon Power Ltd 0.25 Nil 37.74 397.27 0.35 9.31 25.71 Nil Nil 323.71 Nil 1.42

Previous Year 0.21 Nil 11.88 327.69 0.40 9.57 25.71 Nil Nil 194.84 Nil 0.81

DVC EMTA Coal Mines

Ltd.Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil

Previous Year Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil

Damodar Valley Tourism

Development Pvt. LtdNil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil


Bokaro Power Supply

Company (P) LimitedNil Nil 12.40 Nil Nil Nil Nil Nil Nil Nil Nil Nil

Previous Year 0.08 Nil 12.40 Nil Nil Nil 0.08 Nil Nil Nil Nil Nil

National High Power Test

Laboratory Private Limited0.59 6.00 Nil Nil Nil Nil 0.26 Nil Nil Nil Nil Nil




Disclosure

Disclosure as per Accounting Standard - 27 on ‘Financial Reporting of Interest in Joint Ventures

Company

No. of

Shares (in

Lakh)

Face Value

(Rs. per

Share)

31.03.2019

(Rs. in

Crore)

Maithon Power Limited…………………………………………………… 3923.20 10 392.32

Bokaro Power Supply Company (P) Limited…………………………….. 1240.25 10 124.02

DVC EMTA Coal Mines Ltd……………………………………………….. 2.60 10 0.26

Damodar Valley Tourism Development Company Private Limited……. 0.25 10 0.03

Project Development Fund 0.20

National High Power Test Laboratory Private Limited………………. 304.00 10 30.40

b. Land of 1116 acres comprising Raiyati Land (565 acres), GM (115 acres) and Forest Land (436 acres) for MPL was acquired by DVC for construction of Maithon

Right Bank Thermal Power Station (2x525MW). For Raiyati Land, Corporation has entered into an Indenture Deed for lease, pending mutation of the said Land in

the Name of DVC. Regarding GM land and Forest Land, Corporation has approached the Government of Jharkhand (GoJ) seeking necessary permission for sub-

leasing / Right to use etc. in favour of Maithon Power Limited. GoJ has turned down the request. Similar arrangement of land for construction of railway track

connecting to the MPL plant has also been made.

a. Remuneration to key management personnel for the year is (Nil) previous Year (Nil) and no amount there against is outstanding to the Corporation as on 31st

March 2019 (previous year- Nil).



Disclosure

Proportion of Ownership Interest in Joint Ventures

Joint Venture Entities

Proportion ( % age ) of ownership interest as on………………………….31.03.2019 31.03.2018

Maithon Power Limited……………………………………………………. 26 26

Bokaro Power Supply Company (P) Limited…………………………….. 50 50

DVC EMTA Coal Mines Ltd……………………………………………….. 26 26

Damodar Valley Tourism Development Company Private Limited…… 50 50

National High Power Test Laboratory Private Limited……………… 20 20

Other Notes

1. Out of total requirement of land of 1,888 acres for Koderma TPS (including Railway infrastructure), posession of about 4.5 acres of Raiyati Land has not been

received by DVC till March 2019. Payment process for Rayati land are continued and abouit 50% payment has been made to the land owners. Out of total

requirement of land of 2056 acres for Raghunathpur TPS, possession of land of 31 acres has not been completed till March,2019.

2. As per Section 30 of DVC Act, the respective participating Governments have accumulated liabilities towards capital contribution amounting to Rs. 40,038 Crs.

(Pr. Yr. Rs.39,332 Crs.) on account of cumulative capital expenditure incurred by the Corporation till 31st March, 2019 besides reversal of Irrigation Assets for Rs.

521 Cr.

3. Estimated amount of major contracts remaining to be executed on capital account and not provided for is Rs. 2,057 Crores as on 31.03.2019 (previous year Rs.

3,175 Crores).

4. Gross generation of Power through system during the current financial year is 36,864 MKWH (P.Y. 35.958 MKWH) and Import of Power (including

Unscheduled Interchange) is 3,168 MKWH (P.Y. 2,064 MKWH). Total quantity of Power Sale is 36,770 MKWH (P.Y. 34,780 MKWH).

5. Quantity of water supplied during 2018-19 for Industrial & domestic purpose is 464.55 MKL (previous year 435 MKL ) at average rate of Rs. 2.77 per KL

(previous year Rs. 2.89 Per KL)

6. Advance recoverable includes payment of Rs 5.47 Crores against Land and Land Rights of 65 hectares of Land at Bokaro TPS for which the right/title ofposession is yet to be transferred in favour of the Corporation

7. Investments are intended for long term and are carried at cost. Since, there is no diminution, other than temporary in the value of investment, carrying

amount has not been reduced as per accounting policy.



Disclosure

12. Amount received for Deposit Work, for construction of Transmission and distribution line , from consumers is initially accounted for as “Liability “ and

on completion of the job, the Liability Account is adjusted with the actual expenditure incurred on Deposit Work.

13. Dam Rehabilitation and Improvement Project (DRIP) has undertaken by Central Water Commission (CWC) ,Ministry of Water Resources (MoR), GOI with

loan assistance of World Bank for rehabilitation and improvement of dams of various States and Central Agencies. Based on DVC’s request , three dams viz.

Konar, Maithon and Panchet have been approved by the CWC for rehabilitation under DRIP Scheme with an estimated cost of Rs. 139.35 crore. Under the

scheme 40% of total cost will be funded by IBRD loan and IDA credit each and balance 20% through equity. Expenditure incurred towards DRIP scheme up to

the March 2019 is Rs.75.51 Cr. and booked under Capital Works-in Progress. Fund received from World Bank in the form of Credit Assistance through CWC up to

Mar'2019 is Rs. 53.58 Cr.

14. A Memorandum of Agreement (MOA) is made between the Ministry of Water Resources, River Development & Ganga Rejuvenation (MoWR,RD&GR), GOI

and DVC under MoP for implementation of National Hydrology Project (NHP) from 2016-17 to 2023-24 as a Central Sector Scheme with World Bank Assistance.

The fund will be provided by the World Bank as 100 % Grant-in-aid. During the FY 2018-19, amount of Rs.1.25 Cr. (cumulative Rs. 3.65 Cr.) has been received as

Grant -in-aid through MoWR and shown as “Receipt of Govt. Grant for NHP’ under Current Liability group. Expenditure incurred towards NHP during FY

2018-19 amounting to Rs.1.24 Cr. (cumulative Rs. 2.07 Cr.) shown as “Amount Receivable for NHP’ under Current Asset group.

15. MOP , GOI has sanctioned two grant from Power System Development Fund (PSDF ) towards Renovation and Upgradation of control and protection

system and Replacement of substation equipments of 220KV/132KV/33KV Ramgarh substation of the Corporation. The sanctioned amount of Estimated costs

for Renovation and Upgradation of control and protection system and replacement of substation equipment of 220KV/132KV/33KV Ramgarh substation areRs. 156.11 Cr. and Rs. 28.85 Cr. respectively. The value of grants sanctioned are Rs.144.71 Cr. and Rs. 25.96 Cr. being 90% of the estimated sanctioned cost. During

the FY 2018-19 Grant of Rs. 5.09 Cr. (Cumulative Rs. 7.69 Cr.) and Rs. 16.33 Cr. ( Cumulative Rs. 30.38 Cr.) has been received from PSDF for replacement of

substation equipment of 220KV/ 132KV/ 33KV Ramgarh substation and Renovation and Upgradation of control and protection system.

10. The amount of Claim of Rs 55.11 Crores lodged to Railway Authority on account of missing wagon was rejected by Rail on the ground of being time barred.

The matter is being taken up with the appropriate Railway Athority.

11. The Leasehold Land of Bermo Mines, being the Captive coal mine has expired in December, 2015. DVC has made an application for renewal of Lease. Ministry

of Power has already taken up the issue with Ministry of Coal for its speedy disposal.

8. The value of assets does not include the interest bearing securities deposited by the contractors and others and not accounted for in Financial Accounts.

9. Compensation paid in lieu of compassionate employment has been accounted for at the time of final settlement as recognised by the management. The

management estimate for existing liability of Rs. 27.54 Crs. for lumpsum compensation on compassionate ground has been existing in the Books of Accounts of

DVC from 01.04.2010. As the corporation could not made a reliable estimate of present obligation as on the Balance Sheet date, the current payment are charged

directly in the Statement of Profit & loss.



Disclosure

17. In terms of provision of gazette notification dated 3rd November’2009 issued by Ministry of Environment and Forests, Government of India, sale proceeds of

fly ash is to be accounted separately and to be utilised towards expenditure on development of infrastructure/facilities, promotion and facilitation activities for

use of fly ash. During the FY 2018-19 sale of fly ash amounted to Rs. 17.33 Crs.

18. In respect of Diverted out/Missing wagon , Railway Claim Account due for more than three years , not acknowledged by Railway Authority will be

considered for provision.

16. With a view to induct the Supercritical technology through bulk tendering , GOI in October 2009 approved installation of project (RTPS –Phase-II) of 1320

MW (2X660MW) for DVC at Raghunathpur. In absence of long-term PPA and sluggish demand for power and paucity of fund, Corporation in July 2016

accorded approval for termination of contracts for RTPS Phase-II. However, considering the status of the project initiation process for revival plan of

Raghunathpur TPS Ph-II (2X660MW-Supercrical) has been approved by the DVC Board in March 2018. M/S Deloitte is engaged for due dilligence of the project,

final report for the same is awaited.

19. Ministry of Coal, GOI has allotted two Coal Mines to DVC , Khagra Joydev Coal Mine (West Bengal) and Tubed Coal Mine (Jharkhand) for coal linkage

of MTPS (Unit -7&8) and CTPS (unit-8). Mine Developer cum Operator (MDO) for the two coal blocks have been engaged and the process for acquisition of land

for development of coal mines is in progress.

20. As per Jharkhand Resettlement & Rehabilitation Policy, 2008, Corporation is required to procure annuity policy to the unit head of project affected families

(PAF) of Koderma Thermal Power Station for a period of 30 (thirty) years for disbursement of Rs. 12,000 per annum per acre with a provision of enhanced annuity

of Rs. 500 per annum in every two years. Accordingly Corporation has agreed to award the contract to M/s Life Insurance Corporation (LIC) to disburse the

annuity of 7,232 no. of PAFs with an estimated expenditure of Rs. 163.19 crore out of which Rs. 69.69 Crore has been paid to LIC against purchase of Annuity for

3758 PAF up to March, 2019.

21. Corporation has made a deposit of Rs. 4.00 Cr. with Jharkhand Commercial Tax Department against demand for Electricity duty and the same is being

contested.



Disclosure

Contingent Liabilities

a) Works Contract

b) Others


ii) In respect of claims made by various Private Companies /Private Parties etc. and by others contingent liability of Rs.1.50 Crs. (previous year Rs.1.29 Crs.) has

been estimated.

1. Claim against the Company not acknowledged as debts in respect of

i) Some of the contractors for supply and installation of equipment and execution of works have lodged claim on the Company for Rs238.20 Crs. (Previous year

Rs. 155.78 Crs.) seeking enhancement of the contract price, revision of work schedule with price escalation, compensation for the extended period of work etc.

These claims are being contested by the Company as being not admissible in terms of the provisions of the respective contracts.

ii) The Company is pursuing various options under the dispute resolution mechanism available in the contracts for settlement of these claims. It is not practicable

to make a realistic estimate of the outflow of resources if any, for settlement of such claims pending resolution.

i) In respect of claims made by various States/Central Government departments /Authorities towards fees, penalty, tax, cess etc. and by others contingent

liability of Rs.493.89 Crs. (previous year Rs. 491.00 Crs.) has been estimated.


damodar valley corporation - SBICAP Trustee Company Ltd.

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