Under ‘excellent’ rating, NHPC eyes Rs 8,900 cr revenue from operations in 2020-21

• NHPC signs MoU with Ministry of Power detailing targets for the hydro-power PSU for FY 2020-21

• The company has set a target of Rs 8,900 cr revenue from operations in 2020-21

New Delhi: NHPC Limited, India's premier hydropower utility and a Miniratna PSU under the Ministry of Power has signed a memorandum of understanding (MOU) with the with Ministry of Power for the year 2020-21 on Tuesday. The MoU has been signed by the Ministry of Power's Secretary Sanjiv Nandan Sahai, Secretary and NHPC Limited's Chairman & Managing Director (CMD) AK Singh in the presence of senior officers from the Ministry of Power and NHPC Limited.

In the signed MOU for NHPC, the generation target under Excellent rating has been set as 27,500 MUs as against last year's target of 26,000 MUs. Excellent targets for revenue from operations (Net) has been kept as Rs 8,900 crore, operating profit as a percentage of revenue from operations (Net) has been kept as 38.00 percent and PAT/ average net worth has been kept as 10.50 percent.

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Further, Capex target to ensure optimum utilization of budget, targets regarding trade receivables, reduction in claims against the company not acknowledged as debt over the previous year on an overall basis, and percentage of procurement of goods and service through the Government e-Marketplace (GeM) portal to total procurement of goods and services during the previous year, etc. have been included in the MOU.

In addition, milestones in respect of restoration of Unit number 1 & Unit number 2 of Chamera-II Power Station and Assets Monetization parameters have also been included in the MoU.

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