Kerala
Power Finance Corporation Limited
(
A Government of kerala Undertaking)
T.C.5/2639(1),ManikantaTowers,Kowdiar, JawaharNagar (P.O),
Thiruvananthapuram – 695041
PH: 0471- 318620, 317620 MD,
E Mail : kpfcl@md4.vsnl.net.in
Fax : 0471 – 311589
A
Profile of the Company
Kerala
Power Finance Corporation Limited (KPFC) is a Government
Company promoted jointly by the Government of Kerala and
Kerala State Electricity Board to provide funds for the
speedy development of Power infrastructure in the State
of Kerala and was incorporated on 20th March 1998, Commercial
activities commenced in March 1999.
KPFC is registered with,
. The
Registrar of Companies as a Public Limited Company
. The
Reserve Bank of India as a Non- Banking Finance Company.
. Notified
as an Infrastructure Company under Section 36(1) (VII) of
Income Tax Act, 1961.
Objectives
. To
raise substantial funds from different sources and re- deploy
them for the requirements of KSEB.
. To
finance for the development and operation of Independent/Captive
Power projects and units involved in generation,
transmission and distribution of electricity in the State.
. To
undertake and guarantee the issue of bonds and debentures
and to co-accept the bills of exchange accepted
by the Kerala State Electricity Board.
Board of Directors
1.
Smt.Lizzie Jacob IAS, Principal Secretary (Power) :Chairperson
2. Sri. T.M.Manoharan. IFS, Chairman, KSE
Board :Director
3. Dr. K.M.Abraham, IAS, Secretary Finance
(Resources :Director
4. Sri. S.Murugiah IA & IAS, Member
Finance, KSE Board :Director
5. Sri. Bishwanantha Sinha IAS, Managing
Director,
Kerala State Co- Operative Bank
:Director
6. Sri. V.A.P Mallan, General Manager,
Canara Bank :Director
7. Sri. M.P.Aiyappan :Managing Director
SOURCES
OF FUNDS
The
Authorised Share Capital of the company is Rs. 100 Crores
Paid up Capital
The Paid-up Share Capital is Rs. 23.40 crores out of which
Government of Kerala has contributed Rs. 13.90 crores and
KSE Board, the balance amount of Rs. 9.50 crores.
Long Term Loans from Banks
The company has availed long term loans from the following
banks.
a. During 1999-2000, State Bank of Travancore, Kowdiar,
Sanctioned a Line of Credit of Rs. 20Crores to KPFC, and
full amount has been on lent to KSEB.
b. During 2000-2001, Indian Overseas Bank, Kuravankonam
Sanctioned a Term Loan of Rs. 20Crores. Out oft this Rs
18Crores has been availed and on lent to KSEB.
Performance
of the Company
Disbursements
during the Financial Year 2001-2002 is Rs.24.92Crores and
the Company earned an income of Rs. 664.48lakhs (audited)
and has paid income tax of Rs.56.60 lakhs.
As on date the total amount of loans sanctioned to KSE Board
is Rs.112.37Crores and disbursements made is Rs.75.79 Crores.
KPFC has received project proposals totaling Rs.107.02 crores
from KSE Board
The Performance of the Company for the last three
financial years
|
Particulars |
Rs.
In Lakhs 1999-2000 |
Rs.
In Lakhs 2000-2001 |
Rs.
In Lakhs
2001-2002 |
1
2
3
4
5
6 |
Income
from operations
Operating expenses
Depreciation
Provision for taxation
Transfer to special Reserve U/s 36(1) (Vii) of IT ActNet
Profit Dividend declared |
280.33
11.81
1.25
58.99
99.94
190.20 |
514.57
280.08
1.15
66.45
113.33
214.77
30.43 |
664.48
456.25
2.74
63.18
94.31
208.68
34.30 |
Future Plans
Fixed
Deposits
The company launched the Fixed Deposits Programme on 4th
July, 2002 with a target to mobilize Rs. 100Crores initially.
The Government of Kerala has provided guarantee of Rs. 15
Crores for a period of 10 years. The company has mobilized
an amount of Rs. 5 Crores till date.
Interest
for Fixed Deposit is as follows :-
Period
In Months |
(Rate
of Interest in %) |
12
24
36 |
9.50
10.00
10.50 |
Non
SLR Bonds
KPFC
is preparing to launch a Bond Issue (Rated Instrument) of
Rs 200 Crores with a tenure of 7, years for which the company
has obtained guarantee from Government of Kerala.
