India Power Corporation Ltd - Stock Valuation and Financial Performance

DPSC Limited (DPSCL) and Associated Power Co. Ltd.,(APC) were incorporated in the year 1919 primarily to supply power to the Bengal Coal Company Ltd, then the largest producer of Coal in Asia, and also to the railways, industries and townships in the Asansol - Raniganj areas.

Coal companies used to maintain and operate captive generating plants for supply of electric energy to their respective coal mines.Accordingly, DPSC Limited and APC were issued licences for the purpose of generation and distribution of electric energy in the year 1932 ,1934 respectively.Since then, they have been operating Power Stations located at Dishergarh,Seebpore and added new plants and equipment to meet the growing demand of electricity. In subsequent years they were converted into Public Limited Companies. APC became a wholly owned subsidiary of DPSC Limited and later merged with the DPSC Limited in the year 1977.

The licensed area of the two companies was 618 sq.km. They were serving the consumers with high tension distribution mains mostly comprising of 11 KV. overhead lines and having approximate circuit lengths of 395 km. New lines were being added every year for rendering increased stability of supply.

With the enactment of DVC Act, 1948, the power companies were debarred from extending their generating capacity and agreement for bulk supply from Damodar Valley Corporation were made in the year 1951 for supply of power to four Receiving Stations.

In 1951, the two companies extended their service considerably and in 1962, agreements made for bulk supply of power from West Bengal State Electricity Board (WBSEB) by both companies to overcome the acute shortage of power in the eastern region.

In the post-independence period, the policy of the government was to develop power in the government sector. This restricted the growth of the company, in spite of this , the company maintained its reputation for the quality of its service and continued to operate efficiently by extending its services in the Asansol - Raniganj industrial belt, to Coal Mines, Paper Mills, the Railways, Hospitals, Television Stations, Water Pumping Stations, Technical Institutions, and a host of large, medium, and small industries who, irrespective of there size, get the same level of service backed by zeal, integrity and commitment way beyond the call of duty.

DPSC is pervaded by a unique culture comprising 3 Ds - Discipline, Dedication and Devotion. Over the decade, this culture has permeated all levels of the Organisation.

APC became a wholly owned subsidiary of DPSC Limited and later merged with the DPSC Limited in the year 1977.

The Bihar government passed an ordinance in 1975, wherein a licensed area of 58-sq. km. was swept away rendering the balanced area of 618 sq.kms that spread over Andal to Barakar in Asansol - Raniganj coal Belt in W.B. -Licensed Operating Voltage 11KV, 3.3 KV, 550 V. The total overhead circuit km 33/11/3.3/0.550/0.440kv is approximately 800km an underground cable is approximately 200km.

Milestones achieved

• 1919- DPSC Limited Incorporated.
• 1932- DPSC Limited got license for generation and distribution of electric energy.
• 1948- Enactment of DVC Act, 1948.
• 1949- Established its Central Office at Sanctoria - Asansol.
• 1951- DPSC Limited entered into agreements with DVC for Bulk Supply of Power to meet the growing demands of power of consumers and became the first consumer of DVC.
• 1962 - Agreements with WBSEB for bulk supply of Power.
• 1965 -DPSC Limited commissioned One 5 MW Turbo - Alternator & a Boiler.
• 1975 -Bihar govt passed an ordinance, wherein a licensed area of 58-sq. km. swept away rendering the balanced area of 618 sq.kms.
• 1995 -The prestigious ' ET 500 ' ranks DPSC Limited as best private power company in the country & 89th amongst the TOP 500 BEST PERFORMING COMPANIES in India

Awards/ Achievements

For DPSC Limited, 1995 has been an outstanding year with the prestigious “ET 500' published by the Economic Times ranking DPSC Limited as the top performer among India's power supply and distribution.”

Future plans

Some of the future plans of the company includes continuous ongoing modernisation through addition of generating capacity, augmenting distribution network, cutting transmission losses and enhancing reliability.Setting up of 132/33 kV Substation for interconnection with DVC and regional grid, Conversion & Augmentation of 11 kV transmission line system to 33 kV, Installation of 2 X 250 MW Thermal Power Plant at the existing plant at Dishergarh, Construction of 33/11 kV substation at Feeder Raod and Ikra at Dishergarh, Building, operating and maintaining power plants and distribution network in new areas.