Your company recorded a total income of ₹3870.60 Crore during FY 2023-24 with a Profit After Tax (PAT) of ₹435.86 Crore. A total dividend of ₹150 Crore was paid to the promoters in FY 2023-24 which is 34.41 % of the profit after tax for the year. NSPCL’s track record of 100% realisation of energy bills was also maintained in FY 2023-24.

Environment management

Sustainable growth has always been one of the pillars of NSPCL’s growth structure. Several proactive measures have been taken for SPM, SOx & NOx mitigation. ESP up-gradations have already been completed in the CPP II Stations of Durgapur and Rourkela. Flue Gas Desulphurisation (FGD) system and DeNOx system are being implemented through NTPC in all NSPCL stations. In Bhilai PP III DeNOx system has been commissioned in both the Units. FGD works for both Units in Bhilai PP III are in full swing and shall be completed well ahead of the timeline provided by Govt. of India.

Regular safety audits through External Agencies viz National Safety Council are being held in all projects.

A lot of initiatives were taken regarding Ash Utilization in NSPCL through transportation of Pond Ash to NHAI Road Projects, Dry Fly Ash off-take and filling in low lying area. Overall Ash Utilization for the FY 23-24 for NSPCL was 131%.

Employee Development

Your Company has always believed in empowering its employees by providing various learning opportunities to enable them to take up challenges of the future.

Your Company provides an enabling environment to ensure work-life balance of its employees and regularly takes initiatives to enhance Employee welfare, engagement and work-life balance. Now, the Company is emphasizing on initiatives that boost the morale of the employees, uplift their emotional health as well as initiatives that focus on the importance of physical well-being. Many webinars and talks were held during the year by experts for employees on lifestyle management, well-being, etc. As per the Government of India directives, International Yoga Day, Swachhta Pakhwada, Communal Harmony Day, Sadbhawna Diwas, Rashtriya Ekta Diwas, Vigilance Awareness Week etc. are also observed at the units with great enthusiasm.

Corporate Social Responsibility

Your Company achieved CSR expenditure of ₹829.97 Lakh in FY 2023-24. CSR theme for the FY 2023-24 was “HEALTH & NUTRITION” which is in line with the theme identified by Govt. of India. Other focus areas of NSPCL CSR and Sustainability development activities are women empowerment, education to underprivileged children, skill development of rural youth, preventive health care, family welfare, sanitation, promotion of art and culture and social infrastructure projects contributing to the holistic development of stakeholders, mass tree plantation and environmental conservation activities for environment sustainability.

Corporate Governance

Maintaining high standards of transparency and integrity has been the keystone of your Company’s Corporate Governance Policy. Your company has also adopted Whistle Blower Policy for reporting instances of unethical/improper conduct. In line with CVC guidelines, high-value contracts are being monitored by Independent External Monitor.

Awards and Accolades

I am happy to share with you that in recognition of its various activities, your company has been conferred with the following awards during FY 2023-24:-

• ◆ SCOPE Meritorious Award for Best Practices in Human Resource Management.

• ◆ Gold Award in ET Human Capital Award for Excellence in Change Management.

• ◆ Award for outstanding contribution to the cause of Education – World HRD Congress

• ◆ NSPCL Durgapur received the 10th Greentech CSR India Award 2023” in the category of Gender Equality & Empowering Women and in the category of                             Transformative HR Practices

• ◆ NSPCL Durgapur received “14th EXCEED AWARD 2023” in the CSR category

• ◆ Bhilai PP-III received the Apex India Foundation “Occupational Health & Safety- Platinum Award 2023”

• ◆ NSPCL Rourkela has been conferred with the prestigious Kalinga safety award (platinum) in Thermal power plant category

• ◆ NSPCL Rourkela was awarded 4th level Prashansa Patra Award and NSPCL Bhilai PP-III received “Letter of Appreciation” from National Safety Council of India.

• ◆ NSPCL Durgapur was declared winner of Greentech PCWR Award 2024 for outstanding achievements in foremost waste management initiative in Govt.                        organization category.

• ◆ NSPCL Bhilai PP –III received the 3rd National Energy Efficiency Award 2023 and CEE 2nd National PowerGen Water Award 2024 from M/s Council of Enviro                      Excellence.

• ◆ Two Quality circle teams from NSPCL Bhilai have Won the GOLD award in the 14th chapter convention on Quality Concepts organized by CCQC-2023-BHILAI

Acknowledgements

I take this opportunity to thank our Promoters (NTPC and SAIL) for their consistent guidance and encouragement. I would like to thank the Ministry of Power, Ministry of Coal, Ministry of Steel, Ministry of Environment, Forest & Climate Change and other stakeholders for their continued support. My sincere thanks to State Governments, Local State Administration and other authorities for their uninterrupted support to the Company.

I express my deepest regards to the office of CAG, Auditors, Banks, vendors, employees and all other stakeholders for their valuable contribution to the Company. I am extremely thankful to our esteemed customers for being the backbone of our progress. I also wish to thank my colleagues on the Board for their unconditional cooperation.

I am confident that our Company shall overcome the forthcoming challenges and continue to scale greater heights in near future.

Thank you.

Sd/-
Anil Kumar Jadli
Chairman