RECPDCL Signed MoU with REC
INVC, Delhi, REC Power Distribution Company Ltd. (RECPDCL), a wholly owned subsidiary of REC, a ‘Navratna CPSU’ under the Ministry of Power has signed an Memorandum of Understanding (MoU) with Rural Electrification Corporation Ltd. (REC) for the FY 2014-15 on 27.03.2014. Shri P.J. Thakkar, Director (Technical), REC and Shri S.K. Lohani, IAS, CEO, RECPDCL signed the MoU in the august presence of Shri Rajeev Sharma, CMD, REC and Chairman, RECPDCL. Shri Ajeet Kumar Agarwal, Director (Finance), REC and Senior Officials of REC and RECPDCL were present in the MoU signing ceremony. RECPDCL commenced its operations in 2007 with an authorized share capital of Rs.20 crore to promote, develop, construct, own, operate, distribute and maintain electricity distribution network of 33 kV and below voltages, to set up Decentralized Distributed Generation (DDG) systems and to provide various consultancy services in distribution sector in particular and power sector in general. The Company has PAN India presence and is working with 27 Distribution Companies situated across 14 States and 4 RE Co-operative Societies of Andhra Pradesh. The business horizon of RECPDCL has been well-diversified and RECPDCL stood as a leader in providing ‘End-to-end solutions’ for all the needs of distribution sector and rendering expert consultancy to our valued customers across the country with the benchmark quality standard. RECPDCL has received ISO 9001:2008 certification during the FY 2013-14. RECPDCL has got ‘Excellent MoU rating’ for the FY 2011-12 & 2012-13. During the FY 2013-14, RECPDCL has been conferred with the coveted ‘SKOCH Order of Merit - India’s Best 2013 Award’ for the ‘Benchmark best practices’ implemented at RECPDCL. RECPDCL has developed a dedicated IT portal in-house to manage huge volume of data, DPRs pertaining to various distribution projects viz., RGGVY, NEF, R-APDRP across country. RECPDCL has achieved phenomenal business growth within a short-span of six years as it has achieved an order book of about Rs.352 crores, of which orders worth Rs.164 crores have already been executed. The income of the company rose steadily from Rs.3.6 crore in the first year i.e. 2007-08 to Rs.29.82 crore in the FY 2012-13 and is likely to reach Rs.73 crore during the FY 2013-14. The Net worth of the company rose from Rs.1.83 crore in FY 2007-08 to Rs.26.88 crore in the FY 2012-13 and is likely to reach Rs.62 Crore by the end of the FY 2013-14. The Company achieved Profit After Tax of Rs.10.81 crore during the FY 2012-13 and is estimated to reach Rs.35 crore in FY 2013-14. RECPDCL remains a responsible corporate entity mindful of social responsibilities to all the stakeholders in general and the society at large. RECPDCL during the FY 2013-14 has awarded RECPDCL Merit scholarships to 125 Nos. of scholars, who are pursuing IInd year B.E. in Govt. Engg. College, IITs & NITs. RECPDCL has awarded Merit scholarship amount of Rs.24,000/- for each scholars. RECPDCL has engaged more than 400 young Engineers and generated employment in the distribution sector and they were well trained in the distribution sector. Shri S.K.Lohani, IAS, CEO, RECPDCL has been conferred with the prestigious “IPE-Asia Pacific Award ‘CEO with HR orientation” in recognition of the innovative Human resource management practice at RECPDCL.