National Thermal Power Corpn. Ltd.

: Balance Sheet

Rs. Crore Mar-95 Mar-96 Mar-97 Mar-98 Mar-99

ASSETS

Gross fixed assets 23,263.30 24,339.94 25,273.82 27,151.16 29,847.31

Land & building 1,680.61 2,015.22 2,313.08 2,452.04 2,692.46
Plant & machinery 13,185.19 17,431.68 20,111.30 20,563.78 21,280.26
Other fixed assets 510.80 276.12 303.84 1,163.82 1,238.07
Capital WIP 7,886.70 4,616.92 2,545.60 2,971.52 4,636.52
Less: cummulative depreciation 2,916.78 4,088.98 5,566.29 7,313.29 9,298.75
Net fixed assets 20,346.52 20,250.96 19,707.53 19,837.87 20,548.56

Investments 0.02 0.02 0.07 86.00 304.31

In group / associate cos. 0.00 0.00 0.00 0.00 0.00
In mutual funds 0.00 0.00 0.00 0.00 0.00
Other investments 0.02 0.02 0.07 86.00 304.31

Marketable investment 0.00 0.00 0.00 85.00 303.31

In group / associate cos. 0.00 0.00 0.00 0.00 0.00
Quoted investment 0.00 0.00 0.00 0.00 0.00
Market value of quoted investment 0.00 0.00 0.00 0.00 0.00

Deferred tax assets 0.00 0.00 0.00 0.00 0.00

Inventories 1,331.09 1,403.38 1,669.99 1,890.87 1,876.55

Raw materials and stores 1,331.09 1,403.38 1,669.99 1,890.87 1,876.55
Raw materials 215.53 137.34 299.60 483.42 438.53
Stores and spares 1,115.56 1,266.04 1,370.39 1,407.45 1,438.02
Finished and semi-finished goods 0.00 0.00 0.00 0.00 0.00
Finished goods 0.00 0.00 0.00 0.00 0.00
Semi-finished goods 0.00 0.00 0.00 0.00 0.00
Incomplete construction contracts 0.00 0.00 0.00 0.00 0.00
Stock real estate 0.00 0.00 0.00 0.00 0.00
Stock of shares / securities 0.00 0.00 0.00 0.00 0.00
Other stock 0.00 0.00 0.00 0.00 0.00

Receivables 5,534.96 4,902.79 6,016.23 8,294.70 12,379.00

Sundry debtors 2,199.48 2,624.20 3,404.93 5,119.54 7,333.52
Debtors exceeding six months 0.00 932.78 2,240.37 3,117.13 4,882.43
Accrued income 91.96 156.07 206.18 221.85 199.75
Advances / loans to corporate bodies 0.00 0.00 0.00 0.00 0.00
Group / associate cos. 0.00 0.00 0.00 0.00 0.00
Other cos. 0.00 0.00 0.00 0.00 0.00
Deposits with govt. / agencies 554.61 838.14 1,164.07 1,372.12 2,138.22
Advance payment of tax 1.57 1.73 88.50 956.18 2,103.88
Other receivables 2,687.34 1,282.65 1,152.55 625.01 603.63

Cash & bank balance 278.59 429.81 552.35 507.20 348.23

Cash in hand -133.90 299.90 279.48 76.75 70.90
Bank balance 133.90 129.91 272.87 430.45 277.33

Intangible / DRE not written off 4.68 2.92 3.63 2.58 4.16
Intangible assets (goodwill, etc.) 0.00 0.00 0.00 0.00 0.00
DRE not written off 4.68 2.92 3.63 2.58 4.16
 Share issue expenses not written off 0.00 0.00 0.00 0.00 0.00
VRS expenses not written off 0.00 3.63 0.00 0.00 0.00
Other misc. expenses not written off 4.68 -0.71 3.63 2.58 4.16

Total assets 27,495.86 26,989.88 27,949.80 30,619.22 35,460.81

LIABILITIES Mar-95 Mar-96 Mar-97 Mar-98 Mar-99

Rs. Crores
Net worth 14,322.37 14,106.90 16,142.37 17,882.41 20,141.71
Authorised capital 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00
Issued capital 7,999.84 6,613.58 7,403.78 7,545.78 7,712.55
Paid-up equity capital 7,999.84 6,613.58 7,403.78 7,545.78 7,712.55
Preference capital 0.00 0.00 0.00 0.00 0.00
Bonus equity capital 0.00 0.00 0.00 0.00 0.00
Buy back shares 0.00 0.00 0.00 0.00 0.00
Buy back amount 0.00 0.00 0.00 0.00 0.00

Reserves and surplus 6,327.21 7,496.24 8,742.22 10,339.21 12,433.32

Free reserves 4,757.80 5,748.04 6,906.63 8,762.58 11,140.57
Premium reserves 0.00 0.00 0.00 0.00 0.00
Other free reserves 4,757.80 5,748.04 6,906.63 8,762.58 11,140.57
Specific reserves 1,569.41 1,748.20 1,835.59 1,576.63 1,292.75
Revaluation reserves 0.00 0.00 0.00 0.00 0.00

Borrowings 10,582.75 10,468.50 9,685.72 8,938.36 9,661.26

Total bank borr. 505.05 20.91 13.22 15.15 18.77
Short term bank borr. 0.00 20.91 13.22 15.15 18.77
Long term bank borr. 505.05 0.00 0.00 0.00 0.00
Borr from financial institutions 591.42 433.58 353.88 1,247.56 1,883.97
Commercial papers 0.00 0.00 0.00 0.00 0.00
Debentures 2,642.08 2,641.23 2,493.35 1,755.83 1,164.49
Fixed deposits 226.35 244.13 170.90 289.28 219.58
Foreign borr 3,938.40 4,037.14 3,698.44 2,770.97 3,688.38
Borr from corporate bodies 0.00 0.00 0.00 0.00 0.00
Borr from group companies 0.00 0.00 0.00 0.00 0.00
Borr from other companies 0.00 0.00 0.00 0.00 0.00
Borr from promoters/directors 0.00 0.00 0.00 0.00 0.00
Borr from govt./sales tax loans 2,679.45 2,895.27 2,955.93 2,859.57 2,686.07

Current portion of long term debt 631.14 943.34 1,535.69 1,251.62 1,257.89
Secured borrowings 3,202.45 3,217.13 3,272.19 3,003.40 3,048.45
Unsecured borrowings 7,380.30 7,034.23 6,400.31 5,919.82 6,594.03
Foreign currency borrowings 3,938.40 4,037.14 3,698.44 2,770.97 3,688.38

Deferred tax liability 0.00 0.00 0.00 0.00 0.00

Current Liabilities and Provisions

Current liabilities 2,450.36 2,200.05 1,520.41 1,898.51 2,093.32
Sundry creditors 456.67 307.88 366.83 603.25 753.81
Creditors for cap. goods 262.53 173.01 234.14 454.90 508.62
Accrued interest 235.56 268.24 342.08 273.38 272.63
Other current liabilities 1,495.60 1,450.92 577.36 566.98 558.26
Adv against work-in-progress 0.00 0.00 0.00 0.00 0.00
Share application money 667.99 721.39 0.00 0.00 0.00
Provisions 135.70 211.51 597.67 1,897.36 3,560.36
 Tax provisions 0.12 0.12 43.35 980.56 1,378.89
Dividend provisions 130.00 195.00 305.00 503.83 650.00
Dividend tax provisions 0.00 0.00 0.00 50.38 71.50
Other provisions 4.03 14.78 217.28 386.79 503.68

Total liabilities 27,495.86 26,989.88 27,949.80 30,619.22 35,460.81

Contingent Liabilities
Bills discounted 0.00 0.00 0.00 0.00 0.00
Total disputed taxes 0.00 15.08 18.85 32.47 27.21
Letters of credit 0.00 0.00 0.00 0.00 0.00
Total guarantees 0.00 0.00 0.00 0.00 0.00
Future lease payables 0.00 0.00 0.00 0.00 0.00
Liabilities on capital a/c 1,045.00 1,838.00 2,420.00 2,524.10 2,949.87
Mar-00 Mar-01 Mar-02 Mar-03

33,506.13 36,093.01 39,446.20 42,996.90

3,425.50 3,249.87 4,051.70 4,640.50
23,866.06 27,290.45 27,775.60 30,807.20
1,146.18 1,723.69 1,063.90 1,162.90
5,068.39 3,829.00 6,555.00 6,386.30
11,417.34 13,810.76 15,213.10 16,745.60
22,088.79 22,282.25 24,233.10 26,251.30

918.37 3,991.46 4,028.12 3,667.40

0.00 0.00 4.00 4.50
0.00 0.00 0.00 0.00
918.37 3,991.46 4,024.12 3,662.90

898.01 635.00 624.00 1,045.00

0.00 0.00 0.00 0.00
0.00 635.00 624.00 1,045.00
0.00 0.00 0.00 784.50

0.00 0.00 0.00 910.99

2,025.73 1,839.78 2,017.60 1,771.20

1,960.40 1,767.08 1,958.70 1,700.80
517.55 507.69 673.50 498.30
1,442.85 1,259.39 1,285.20 1,202.50
65.33 9.88 0.00 0.00
65.33 9.88 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 62.82 58.90 70.40

14,597.91 13,856.64 14,500.40 22,400.50

8,208.83 9,585.14 11,532.80 12,434.90
4,799.30 5,758.48 10,027.10 11,433.30
257.09 313.60 436.90 738.00
0.00 0.00 6.30 6.10
0.00 0.00 6.30 6.10
0.00 0.00 0.00 0.00
1,627.64 830.52 16.70 16.10
3,558.30 2,369.87 1,457.20 1,690.20
946.05 757.51 1,050.50 7,515.20

560.18 382.96 1,204.80 544.70

72.88 134.79 331.30 161.20
487.30 248.17 873.50 383.50

5.93 9.05 7.20 8.70

0.00 0.00 0.00 0.00
5.93 9.05 7.20 8.70
 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
5.93 9.05 7.20 8.70

40,196.91 42,362.14 45,991.22 55,554.79

Mar-00 Mar-01 Mar-02 Mar-03

22,904.48 25,811.73 28,645.30 31,504.00

8,000.00 8,000.00 8,000.00 10,000.00
7,812.55 7,812.55 7,812.50 7,812.50
7,812.55 7,812.55 7,812.50 7,812.50
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00

15,097.86 18,008.23 20,840.00 23,700.20

14,730.42 17,780.81 20,649.60 23,318.10
0.00 0.00 0.00 0.00
14,730.42 17,780.81 20,649.60 23,318.10
367.44 227.42 190.40 382.10
0.00 0.00 0.00 0.00

10,077.80 9,805.40 11,581.20 13,242.80

4,087.23 1,299.32 8,521.80 9,913.20
4,087.23 1,299.32 6,976.30 8,390.90
0.00 0.00 1,545.50 1,522.30
2,393.36 1,920.47 0.00 0.00
0.00 0.00 0.00 0.00
664.46 350.00 600.00 2,651.30
325.26 168.34 265.10 506.70
0.00 3,593.35 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
2,607.49 2,473.92 2,194.30 144.20

128.50 1,251.37 1,420.10 1,406.50

2,427.82 1,965.47 1,645.50 4,122.60
7,649.98 7,839.93 9,935.70 9,120.20
4,086.81 4,050.23 5,815.90 5,590.00

0.00 0.00 0.00 5,348.89

2,485.16 2,761.35 3,188.10 3,420.20

808.88 1,063.44 1,221.30 1,188.60
659.82 725.02 919.60 1,207.20
274.72 171.70 177.10 160.10
741.74 801.19 870.10 864.30
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
4,723.54 3,974.61 2,569.42 2,030.20
 796.12 1,083.43 922.37 1,219.94
350.00 747.00 707.90 308.00
77.00 76.19 0.00 39.50
913.80 827.85 918.62 817.30

40,196.91 42,362.14 45,991.22 55,554.79

0.00 0.00 0.00 0.00

37.90 29.93 26.30 31.80
0.00 0.00 103.00 120.50
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.10
0.00 4,412.21 6,009.21 6,183.56
National Thermal Power Corpn. Ltd.: Profit & Loss Statement
Rs. Crore Mar-95 Mar-96 Mar-97 Mar-98 Mar-99 Mar-00
Sales 6,404.280 8,397.090 9,871.280 12,442.840 14,091.660 16,134.400
Other income 86.670 155.100 192.620 258.050 287.700 708.420
Expenses capitalised 91.130 63.190 62.910 54.130 59.770 59.200
Change in stocks 0.000 0.000 0.000 0.000 0.000 0.000
Raw material, stores, etc. 3,155.450 3,997.810 4,859.200 6,142.570 6,684.770 8,018.350
Power and fuel expenses 25.270 25.550 32.730 29.410 27.290 30.950
Total indirect taxes 52.280 60.240 65.890 66.780 76.700 74.370
Salaries and wages 238.040 280.330 326.190 440.680 533.630 663.440
Advertising expenses 1.450 2.480 2.150 2.710 5.830 6.940
Marketing expenses 0.330 0.830 0.610 0.540 1.250 4.880
Distribution expenses 0.000 0.000 0.000 0.000 0.000 0.000
Depreciation 781.790 1,174.140 1,479.670 1,750.620 1,989.340 2,085.440
Lease rent 0.000 0.000 0.000 0.000 0.000 5.220
Other financial charges 123.750 161.820 207.630 456.680 295.590 311.100
Tax provisions 0.120 0.120 43.350 980.560 1,378.890 796.120
PAT 1,124.550 1,352.610 1,679.440 2,153.500 2,815.730 3,424.530
PBDIT 2,593.930 3,472.230 4,295.490 6,270.690 7,266.930 7,293.870
PBDT 1,906.460 2,526.870 3,202.460 4,884.680 6,183.960 6,306.090
PBT 1,124.670 1,352.730 1,722.790 3,134.060 4,194.620 4,220.650
Dividends 130.000 195.000 435.500 554.210 721.500 760.000
Retained profits 994.550 1,157.610 1,243.940 1,599.290 2,094.230 2,664.530
 Mar-01 Mar-02 Mar-03
19,080.830 17,930.060 19,170.200
908.670 664.040 611.270
130.690 77.900 108.700
0.000 0.000 0.000
9,952.650 10,418.500 11,047.700
33.390 32.500 33.400
88.470 108.700 150.000
837.180 898.800 910.700
6.920 4.900 5.400
8.490 261.300 359.200
0.000 0.000 0.000
2,325.640 1,383.300 1,535.600
5.880 7.300 8.600
361.680 54.600 50.400
1,083.430 922.370 1,219.940
3,733.800 3,539.600 3,607.500
8,281.620 6,600.470 7,006.240
7,142.870 5,845.270 6,363.040
4,817.230 4,461.970 4,827.440
823.190 707.900 747.500
2,910.610 2,831.700 2,860.000
National Thermal Power Corpn. Ltd.: Cash Flow Statement
Rs. Crores Mar-95 Mar-96 Mar-97 Mar-98

Net Profit Before Tax & Extra Ord. Items 1,124.67 1,352.73 1,722.78 2,273.24
Depreciation 770.65 1,160.17 1,470.98 1,744.28
Interest Payable 687.47 945.35 1,093.03 1,386.01
Foreign exchange gain/loss 0.00 0.00 0.00 0.00
Write offs/amortisations 0.17 0.52 0.02 0.00
Profit on Sale of Investment 0.00 0.00 0.00 0.00
Profit on Sale of Assets 0.00 0.00 0.00 0.00
Interest Income 0.00 0.00 0.00 0.00
Dividend Income 0.00 0.00 0.00 0.00
Other Income Adjustments 0.00 0.00 0.00 -3.24

Cash Flow Before working capital change 2,585.55 3,728.23 4,538.81 5,454.67
Trade and Other Receivables 22.92 -1,014.40 -1,217.69 -1,766.12
Inventories -232.48 -33.99 -267.84 -215.73
Trade Payables -219.03 -224.07 132.79 1,672.27

Cash Flow from operations 1,768.11 2,455.77 3,186.07 5,167.50

Interest paid -817.47 -945.35 -1,093.03 -1,386.01
Direct taxes paid -0.11 -0.12 -43.35 -119.75
Dividend tax paid 0.00 0.00 -30.50 -50.38

Cash Flow Before Extra Ordinary Items 950.53 1,510.30 2,019.19 3,611.36
Extra Ordinary Items 0.00 0.00 0.00 3.24

Cash flow from Operating Activities 950.53 1,510.30 2,019.19 3,614.60

Net Cash used in Investing Activities -1,466.43 360.43 -785.35 -2,548.72

Purchase of Fixed Assets -2,027.95 -4,345.64 -3,004.66 -1,452.75
Sale of Fixed Assets 0.00 0.00 0.00 0.00
Acquisition of Companies 0.00 0.00 0.00 0.00
Purchase of Investment 0.00 0.00 -0.05 -85.93
Sale of Investment 0.00 0.00 0.00 0.00
Project Expenses -281.35 11.88 0.78 0.00
Loans to Subsidiary/Group cos 0.00 0.00 0.00 0.00
Loans to Other Companies 315.06 1,456.32 141.29 -580.58
Interest Received 0.00 0.00 0.00 0.00
Dividend Received 0.00 0.00 0.00 0.00
Other Income 527.81 0.00 0.00 0.00

Net Cash used in Financing Activity 551.34 -1,654.04 -1,111.30 -1,111.03

Proceeds from Share Issue 667.99 53.40 68.81 142.00
Proceeds from Total Borr. 0.00 0.00 0.00 0.00
Proceeds from Long Term Borr. -116.83 0.00 0.00 0.00
Proceeds from Short Term Borr. 0.00 0.00 0.00 0.00
Repayment of Long Term Borr. 0.00 -322.41 -775.11 -749.28
Repayment of Short Term Borr. 0.00 196.23 0.00 0.00
Share Issue Expenses 0.00 -1,386.26 0.00 0.00
Dividend Paid 0.00 -195.00 -405.00 -503.83
Other Financing Activity 0.18 0.00 0.00 0.08
Net Cash Flow 35.44 216.69 122.54 -45.15

Opening cash balance 177.68 213.12 429.81 552.35

Closing cash balance 213.12 429.81 552.35 507.20

Mar-99 Mar-00 Mar-01 Mar-02 Mar-03

2,916.08 3,630.88 4,073.81 3,702.10 3,834.30

1,985.70 2,144.23 2,407.43 1,376.20 1,556.20
1,082.96 982.56 886.78 895.70 900.30
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 -244.55 -484.10 -346.00
0.00 0.00 0.00 -5.70 -3.60
0.00 -6.70 0.00 0.00 27.10

6,346.96 7,540.00 8,119.39 5,667.80 6,523.80

-2,559.09 -1,533.93 -2,379.72 -2,237.40 -1,548.90
12.91 -151.11 184.21 -184.20 240.60
1,859.97 1,525.08 254.21 316.30 -156.80

4,982.66 7,380.04 6,178.09 3,562.50 5,058.70

-1,082.96 -982.56 -989.80 -890.30 -917.40
-100.35 -206.34 -1,224.73 -1,442.60 -1,434.90
-71.50 -110.00 -77.00 -76.20 0.00

3,727.85 6,081.14 3,886.56 1,153.40 2,706.40

-12.61 6.70 1,003.67 819.20 1,114.90

3,715.24 6,087.84 4,890.23 1,972.60 3,821.30

-4,108.55 -5,759.01 -5,479.90 -2,837.70 -3,188.10

-1,031.14 -3,263.03 -2,536.75 -3,133.30 -3,290.60
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
-218.31 -597.28 -3,152.88 -17.70 -0.30
0.00 0.00 63.01 11.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 -0.30 0.20
-1,193.41 -1,474.01 0.00 0.00 0.00
0.00 0.00 146.72 252.30 93.50
0.00 0.00 0.00 0.20 9.10
0.00 0.00 0.00 50.10 0.00

234.34 -116.87 -626.01 1,029.50 390.30

166.77 100.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
719.26 434.90 1,221.16 2,719.70 4,542.10
0.00 0.00 0.00 0.00 0.00
0.00 0.00 -1,493.82 -943.20 -3,043.90
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
-650.00 -650.00 -350.00 -747.00 -1,107.90
-1.69 -1.77 -3.35 0.00 0.00
-158.97 211.96 -1,215.68 164.40 1,023.50

507.20 348.23 2,417.28 1,201.50 1,365.90

348.23 560.19 1,201.60 1,365.90 2,389.40