Latest news with #DISCOMs
Business Standard
5 days ago
- Business
- Business Standard
Dynamic Cables gains after board declares 1:1 bonus issue
Dynamic Cables advanced 2.61% to Rs 868.50 after the company announced a 1:1 bonus issue following the outcome of its board meeting held on 30 May 2025. According to an exchange filing, the companys board, in its meeting held on 30 May 2025, approved and recommended the issuance of bonus equity shares by way of capitalization of securities premium, in the ratio of 1:1 i.e., one new fully paid-up equity share of Rs 10 each for every one existing fully paid-up equity share of Rs 10 eachto eligible shareholders of the company as on the record date. The issuance is subject to the approval of shareholders and other applicable regulatory and statutory approvals. The record date to determine the eligible shareholders for the bonus equity shares will be intimated separately to the exchanges. Post the bonus issue, the paid-up share capital of the company will increase from Rs 24.23 crore (2.42 crore shares) to Rs 48.46 crore (4.84 crore shares). The company confirmed that Rs 111.11 crore was available in the share premium account as of 31 March 2025, with Rs 24.23 crore earmarked for the bonus issue. The bonus shares are expected to be credited/dispatched within two months from the boards approval, i.e., by 29 July 2025. In another key development, the board has proposed to increase the authorized share capital of the company from Rs 25 crore to Rs 50 crore, which will entail an amendment to Clause V of the Memorandum of Association. Dynamic Cables is a manufacturer of power infra cables that includes LT, HT, EHVC, power control & instrumentation cables, flexible & industrial cables, solar cables, and railway signaling cables. It supplies cables to government DISCOMs, private distribution companies, private EPC contractors, and industrial and export clients and has 3 manufacturing plants situated at Jaipur and Reengus. The company's net profit rose 71.09% to Rs 23.56 crore on a 37.41% increase in net sales to Rs 331.17 crore in Q4 March 2025 over Q4 March 2024.
New Indian Express
6 days ago
- Business
- New Indian Express
Andhra Pradesh accelerating installation of solar rooftops under Surya Ghar: Chief Secretary
VIJAYAWADA: Andhra Pradesh is accelerating the rollout of rooftop solar installations under the PM Surya Ghar: Muft Bijli Yojana, with a target of 20 lakh units by the end of 2025, Chief Secretary and Special Chief Secretary (Energy) K Vijayanand said during a review meeting in Vijayawada on Thursday. He directed DISCOMs and NREDCAP to achieve three lakh rooftop solar connections by June 2025, assigning 75,000 each to APCPDCL, APSPDCL, and APEPDCL, and another 75,000 to NREDCAP. Weekly progress reviews have been scheduled. Special focus will be given to SC and ST households, which are eligible for 2-kilowatt rooftop systems free of cost. Backwards Class families will receive a subsidy of Rs 80,000—Rs 60,000 from the Centre and Rs 20,000 from the State, towards the Rs 1.20 lakh installation cost. Each district will develop a model village to demonstrate the scheme. For SC/ST households, the state aims to install 5.87 lakh systems, generating 1,743 million units annually. Installations must be completed within six months of the Letter of Award and will be maintained free for five years.
The Hindu
6 days ago
- Business
- The Hindu
Govt. targets to install 20 lakh rooftop solar units this year and three lakh units by June-end, says A.P. Chief Secretary Vijayanand
Andhra Pradesh Chief Secretary and Special Chief Secretary (Energy) K. Vijayanand has said the State government has set an ambitious target of installing 20 lakh rooftop solar units this year. At a review meeting on Thursday, Mr. Vijayanand said the DISCOMs and NREDCAP had to collectively achieve the target of providing three lakh rooftop solar connections by the end of June 2025. 'Each DISCOM is assigned a target of 75,000 connections, while NREDCAP will also execute 75,000 connections. An action plan should be submitted immediately, and the progress will be reviewed every week,' he said. Stressing the need for wide publicity to the PM Surya Ghar scheme among the SC and ST beneficiaries, he said setting up a 2-kilowatt rooftop unit would be entirely free for them. He also sought that awareness be created about the scheme among the Backward Classes (BC) households. Model village 'The government is providing a total subsidy of ₹80,000 — a sum of ₹60,000 from the Central Government and ₹20,000 from the State government — towards installation of rooftop solar unit costing ₹1.20 lakh under the PM Surya Ghar scheme,' Mr. Vijayanand said. Further, he directed that one model village be developed in each district as demonstration sites for effective implementation of the scheme. He also stressed the need for DISCOMs and NREDCAP to coordinate with banks to establish formal tie-ups, specifically for the execution of these model villages. CMDs of APEPDCL, APSPDCL and APCPDCL I. Prudhvi Tej, K. Santosha Rao, and P. Pulla Reddy respectively were among others present.
Time of India
21-05-2025
- Business
- Time of India
PFC Q4 net profit rises 11%, makes 100% provisions on Gensol Engineering
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Power Finance Corp (PFC) reported an 11% increase in the fourth-quarter net profit at Rs 8,358 crore, buttressed by an increase in interest income and provisioning the same quarter a year ago, the company had reported a net profit of Rs 7,556 board at the state-run infrastructure lender recommended a final dividend of Rs 2.05 per share for FY25, taking the total dividend to Rs 15.80 per interest income, or the different between interest earned and expended, rose 38% to Rs 12,092 crore in the March quarter from Rs 8,739 crore a year the quarter, the company saw gains from resolution of KSK Mahanadi, a 3,600 MW thermal generation project with outstanding of Rs 3,300 crore, with overa 100% recovery. The company recovered Rs 4,500 crore in this account including interest. With this, gross NPA fell to 1.94% from 3.34% and Net NPA ratio declined to 0.39% in FY25 from 0.85% in company reported its highest-ever annual profit after tax at Rs 17,352 crore in FY25, rising from Rs 14,367 crore a year forward, the company expects resolutions in two NCLT cases- Sinnar Thermal and India Power Haldia- and for Shiga and TRN Energy outside the downside, fresh provisions of Rs 1,000 crore were made due to the re-ranking of DISCOMs under the 13th Integrated Ranking Methodology. An additional Rs 260 crore was provided for the fully provisioned Gensol account. Also, Stage 2 asset provisioning was also raised to 1.25% as a prudence said disbursements in FY25 were largely driven by the distribution sector, mainly state-run DISCOMs and renewables, aiding the loan book to grow 12.81% to Rs 5.43 lakh crore including renewables at Rs 80,000 company's chairperson Parminder Chopra said she expects the loan book to expand 10-11% in FY26, led by the nuclear energy front, Chopra said the company is open to funding but is awaiting a clear policy direction from the thermal projects, she said that while it continues to support state and private players, disbursements will materialize over the medium term due to longer gestation cycles. In contrast, renewable projects offer shorter turnaround and will likely drive near-term funding.
Hans India
18-05-2025
- Climate
- Hans India
CS urges DISCOMS to be on high alert in pre monsoon season
Vijayawada: Chief Secretary and Special Chief Secretary for Energy K Vijayanand directed AP Power Utilities to remain on high alert in view of the anticipated pre-monsoon thunderstorms and gusty winds. He instructed the CMDs of DISCOMs to monitor the situation on a daily basis, ensuring close coordination from Assistant Engineers to Superintending Engineers at the field level. In case of any disruptions to power supply, he emphasized the need for immediate restoration measures without delay. The CS also instructed all DISCOMs to set up 24x7 control rooms for round-the-clock monitoring, emergency response, and prompt grievance redressal. In view of the red alert for coastal districts, the Chief Secretary on Saturday conducted a review meeting advised field teams in Srikakulam, Visakhapatnam, and Vizianagaram to remain extra vigilant and responsive. He warned that any negligence in duty would be viewed seriously urging all officials to prioritize uninterrupted power supply, swift response, and transparent public communication. Disclosing the above during a high-level review meeting with APDISCOMs convened virtually on Saturday, the chief secretary reviewed the power supply situation across the state, readiness for the upcoming peak demand season, ongoing infrastructure development under Revamped Distribution Sector Scheme (RDSS), and restoration efforts following recent adverse weather conditions. Additionally, Vijayanand emphasised that DISCOM officers must be visibly present at work sites, especially during line maintenance and tree branch trimming, to ensure public confidence and proper execution. To enhance accountability, he directed that each Director be assigned two to three districts for focused monitoring and timely reporting. All efforts must be geared toward maintaining system reliability and better services to consumers throughout the upcoming monsoon season. The Chief Secretary said that the state recorded a peak electricity demand of 12,600 MW on May 13 with average daily consumption reaching around 228 MU. Power demand in the coming months (June to November 2025) is projected to remain high, ranging between 218 and 235 MU per day.
