Power Finance Corporation Limited CC-Dec24.pdf · 2025-02-12
Ma'am, based on the exchange rate movement from last quarter, we haven't had an impact on the profit and loss statement. Whereas this quarter, there's -- with the RBI's, Reserve Bank of India's, interventions, the rupee has appreciated and there's only a INR1 difference. So you have to start explaining better not only in terms of foreign exchange, not only in terms of your non - performing assets, recoveries because what you guys are doing is, first of all, with NCLT, you should be -- we've already discussed this offline before. You have to talk to the government and say, "Hey, this is for the energy security of the country, right? This is a basic need." And you guys are getting projects stuck in NCLT. We don't know which projects to greenlight, which are brownfield, et cetera, et cetera. So why is there no coordinated effort in telling the power ministry and the finance ministry and the law ministry that this is needed for the energy security of the nation. And why are you guys not able to tell us what the recovery amounts are when the newspapers are telling us that this is the recovery amount. You guys have made the loan, so it's your loan , you guys are negotiating. We are the investors, it's our money, which we are investing. Tell us what the recovery amounts are, tell us what you are provisioned, tell us what is under liquidation and how much -- you are putting 100% liquidation, 100% prov isioning out there. You are not going to recover anything on those assets. So it's becoming -- you have to report stuff in a better manner because even you are reporting stand- alone earnings, then consolidated earnings, you are giving stand -alone book value, the consolidated book value matters. Why is it taking you guys so long to disclose stuff? It is -- forget me, it's the President of India who has invested 52% in you. So you owe it to the public, you o we it to the population of India to report properly. Why are you not reporting stuff properly?
You're not. You're not disclosing the numbers. We are asking you what is the recovery amount on KSK Mahanadi, you don't have an answer. Rural Electrification Corporation is a subsidiary of yours. They are talking about Hiranmaye and Sinnar, where you are a lender too. They are reporting those numbers, you are not reporting those numbers. Like why is there no coordination? I believe you're on the Board of -- at least you used to be on the Board of Rural Electrification Corporation, it's a subsidiary of yours. Why is there no coordination, and I know there is coordination between you guys. So why is it that there is no coordination in reporting the numbers? Why are you not giving me the Hiranmaye numbers? Why you're not giving me the Sinnar energy numbers? Sinnar is being bought out by NTPC, which is Maharatna that you guys are. And you guys have no coordination when -- I know you guys are working extremely hard towards the energy needs of the country. And you guys can't tell us that, okay, we will get it done in 1 month, 2 months, 3 months. This is a Maharatna company.