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Tuesday, June 15th, 2021

RECPDCL signs MOU with REC for FY 2013-14

Rajeev Sharma CMD REC , Chairman RECPDCL ,Ajeet Kumar  garwal, Director Finance RECINVC,
Delhi,
REC Power Distribution Company Ltd. (RECPDCL), a wholly owned subsidiary of REC Ltd. signed anMemorandum of Understanding (MoU) for the Financial Year 2013-14 with Rural Electrification Corporation Ltd. (REC), a ‘Navratna’Central Public Sector Enterprise under the Ministry of Power. The MOU was signed by Shri P.J. Thakkar, Director (Technical) REC and Shri S.K. Lohani, Chief Executive Officer, RECPDCL in the august presence of Shri Rajeev Sharma, CMD, REC and Chairman, RECPDCL. ShriAjeet Kumar  garwal, Director (Finance), REC and Senior Officers of RECand RECPDCL were present on the occasion.RECPDCL started its operations with an authorized share capital of Rs.20 crore to promote, develop, construct, own, operate, distribute and maintain electricity distribution network of 66 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. RECPDCL started its operations in 2007 by providing consultancy assignment in the area of Third Party Inspection (TPI) of works executed under RGGVY and Feeder Renovation Program (FRP) and slowly added other portfolios like preparation of Detailed Project Report (DPR), evaluation of HVDS Projects, Quality inspection of materials used in the electricity distribution system, Energy Audit and role of Lender’s Engineer for power projects. RECPDCL is rendering various consultancy services with the highest quality standard. The company has excelled in the area of Third Party Inspection of works executed in electricity distribution network and set its Quality benchmark. Its reports have been widely appreciated at various platforms in general and our valued customers in particular. During the FY 2012-13, the company has further widened its business horizon in the portfolio by providing various consultancy assignments viz., Project Management Consultancy (PMC) assignments, DPR preparation under National Electricity Fund (NEF) & RGGVY Schemes and Third Party inspection of Infrastructure development projects.RECPDCL backed by the expertise and rich experience of REC, started earning profit from the very first year and over a period of four years achieved an order book of Rs.116 crores, of which orders worth Rs.57 crores have already been executed up to Feb’ 2013. The income of the company rose steadily from Rs.3.6 crore in the first year i.e. 2007-08 to Rs.23.28 crore in the FY 2011-12 and is likely to reach Rs.30.3 crore during the FY 2012-13. Net worth of the company rose from Rs.5 lakhs in FY 2007-08 to Rs.16.13 crore in the FY 2011-12 and is likely to rise further to Rs.27 Crore during the FY 2012-13. The Company recorded Profit AfterTax of Rs.8.67 croreduring the FY 2011-12 and in FY 2012-13 it is estimated to reach Rs.12 crore.

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