In a conversation with CNBC TV18, Mr Sushil Maroo, Executive Vice Chairman, Essar Power, discusses the company’s turnaround and highlights the stellar performance of some of the power plants, notably Essar Power Gujarat Ltd (EPGL).
EPGL, which owns and operates a 1,200 MW imported coal-fired thermal power plant at Salaya in Gujarat’s Devbhumi Dwarka district, has recorded a 168% growth in EBITDA in the financial year ending 31 March 2016—three years after commissioning. The PAT is around Rs 39 crore, compared to a loss of Rs 684 crore in FY15. This turnaround in performance can be attributed to higher operational efficiency, a reduction in coal prices through e-auction based procurement, and normative plant availability.