Report of Indian Institute of Public Administration ... - Ministry of Power

Synopsis of State Reports (Vol.-IV)
Study on `Impact of Restructuring of SEBs’
It appears that the State Government has not encouraged conducting of raids
for detecting cases of electricity theft. DISCOMs too seem to have displayed
indifference on this front, which was showing excellent results during the prerestructuring
period. During that time, it was a practice to post the best officers
to the Vigilance Wing and they were encouraged in every way. Unfortunately,
this does not seem to be the situation now.
6.3 FINANCIAL
Table: Financial Performance
70
(Rs crore)
Pre-Restructuring (RSEB) Post-Restructuring (Sector as a whole)
Particulars 1995 1996 1997 1998 1999 2001 2002 2003 2004
-96 -97 -98 -99 -2000 -02 -03 -04 -05
Turnover
PBT/(Loss)
2092 2513 3118 3034 3587 4501 4665 4772 5269
(without
subvention)
Debt outstanding
(Including short
(430) (498) (640) (1041) (1678) (1291) (1582) (1754) (2014)
term loans,
excluding State
Government loans)
3,755 4318 3371 4354 5606 8684 10356 11384 12577
Net worth 799 1051 1945 2154 2299 2491.95 3111.31 3726.53 4464.24
There is an increasing trend of losses in the post-restructuring period. The
accumulated losses from 1996-97 to 1999-2000 were Rs 3,857 crore while in
the post-restructuring period, the losses in the first four years were Rs 6,641
crore. Inevitably such heavy losses are bound to adversely affect the net worth.
However, for cosmetic purposes, the DISCOMs are claiming that subvention is
“expected” from the Government. Hence, according to them, their net worth
has not been eroded.
Table 6.7: Revenue From Industrial Consumers (% of Total Revenue)
Particulars
Revenue (%)from
industrial consumers
Change in % points as
compared to previous
year
1995
-96
1996
-97
1997
-98
1998
-99
1999
-2000
2000
-01
2001
-02
2002
-03
2003
-04
2004
-05
71 69 69 65 63 58 53 52 51 51
- -2 0 -4 -2 -5 -5 -1 -1 0
The revenue from industrial consumers, which used to be 71 per cent in 1995-
96, had reduced to barely 58 per cent by 2000-01. After restructuring, there has