KYC is one time exercise with a SEBI registered intermediary while dealing in securities markets (Broker/ DP/ Mutual Fund etc.). | No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.   |   Prevent unauthorized transactions in your account – Update your mobile numbers / email ids with your stock brokers. Receive information of your transactions directly from exchange on your mobile / email at the EOD | Filing Complaint on SCORES - QUICK & EASY a) Register on SCORES b) Mandatory details for filing complaints on SCORE - Name, PAN, Email, Address and Mob. no. c) Benefits - speedy redressal & Effective communication   |   BSE Prices delayed by 5 minutes... << Prices as on Apr 08, 2025 >>  ABB India 5066.75  [ 1.97% ]  ACC 1973.2  [ 2.32% ]  Ambuja Cements 537  [ 2.29% ]  Asian Paints Ltd. 2394.15  [ 2.36% ]  Axis Bank Ltd. 1077.5  [ 2.72% ]  Bajaj Auto 7498.1  [ 2.59% ]  Bank of Baroda 235.8  [ 2.86% ]  Bharti Airtel 1720  [ 1.90% ]  Bharat Heavy Ele 210.95  [ 1.44% ]  Bharat Petroleum 285.7  [ 4.12% ]  Britannia Ind. 5179.05  [ 2.43% ]  Cipla 1433.45  [ 3.54% ]  Coal India 382.95  [ 1.44% ]  Colgate Palm. 2439.05  [ 2.09% ]  Dabur India 459.35  [ 1.75% ]  DLF Ltd. 622.2  [ 2.31% ]  Dr. Reddy's Labs 1108.55  [ 1.83% ]  GAIL (India) 172.65  [ 2.31% ]  Grasim Inds. 2590.85  [ 3.27% ]  HCL Technologies 1403.2  [ 2.03% ]  HDFC Bank 1769.1  [ 0.62% ]  Hero MotoCorp 3574.1  [ 1.26% ]  Hindustan Unilever L 2289.35  [ 1.74% ]  Hindalco Indus. 568.35  [ 1.06% ]  ICICI Bank 1299.3  [ 0.90% ]  Indian Hotels Co 773.3  [ 2.86% ]  IndusInd Bank 679.25  [ 0.45% ]  Infosys L 1429.3  [ 2.25% ]  ITC Ltd. 412.55  [ 1.60% ]  Jindal St & Pwr 801.35  [ 1.25% ]  Kotak Mahindra Bank 2054.45  [ 0.75% ]  L&T 3161.2  [ 2.94% ]  Lupin Ltd. 1982.65  [ 3.11% ]  Mahi. & Mahi 2525.15  [ 1.38% ]  Maruti Suzuki India 11456.3  [ 1.14% ]  MTNL 42.09  [ 2.31% ]  Nestle India 2275.25  [ 1.23% ]  NIIT Ltd. 112.8  [ 4.25% ]  NMDC Ltd. 61.59  [ 0.41% ]  NTPC 352.95  [ 0.84% ]  ONGC 226.65  [ 3.07% ]  Punj. NationlBak 96.92  [ 2.11% ]  Power Grid Corpo 288.8  [ -0.19% ]  Reliance Inds. 1182.4  [ 1.39% ]  SBI 768.4  [ 2.90% ]  Vedanta 375.7  [ 0.48% ]  Shipping Corpn. 169.05  [ 7.81% ]  Sun Pharma. 1688.75  [ 1.22% ]  Tata Chemicals 809.4  [ 0.85% ]  Tata Consumer Produc 1069.25  [ 2.04% ]  Tata Motors 588.9  [ 1.56% ]  Tata Steel 130.2  [ 0.46% ]  Tata Power Co. 359.75  [ 1.41% ]  Tata Consultancy 3293.55  [ 0.52% ]  Tech Mahindra 1315  [ 2.02% ]  UltraTech Cement 11276.75  [ 0.75% ]  United Spirits 1426.3  [ 1.79% ]  Wipro 247.25  [ 1.81% ]  Zee Entertainment En 107.74  [ 10.87% ]  

Company Information

Indian Indices

  • Sensex
    74227.08

    + 1089.18
    (+ 1.49 %)

  • NSE Index
    22535.85

    + 374.25
    (+ 1.68 %)

  • BSE 100LCTMC
    8321.3

    + 139.51
    (+ 1.71 %)

  • BSE Auto
    45115.63

    + 727.06
    (+ 1.64 %)

  • BSE Bharat22
    7908.38

    + 157.25
    (+ 2.03 %)

  • BSE CPSE
    3451.32

    + 59.53
    (+ 1.76 %)

  • BSE DFRGI
    1387.16

    + 35.66
    (+ 2.64 %)

  • BSE DSI
    909.98

    + 15.95
    (+ 1.78 %)

  • BSE EVI
    842.77

    + 21.03
    (+ 2.56 %)

  • BSE Infra
    542.25

    + 10.65
    (+ 2.00 %)

  • BSE IPO
    12857.09

    + 201.11
    (+ 1.59 %)

  • BSE LVI
    1670.36

    + 30.35
    (+ 1.85 %)

  • BSE Metal
    27006.42

    + 326.26
    (+ 1.22 %)

  • BSE Midcap
    39837.44

    + 729.48
    (+ 1.87 %)

  • BSE Momen
    1884.24

    + 41.44
    (+ 2.25 %)

  • BSE Oil&Gas
    24156.41

    + 606.82
    (+ 2.58 %)

  • BSE PBI
    17719.71

    + 179.19
    (+ 1.02 %)

  • BSE Power
    6376.52

    + 45.00
    (+ 0.71 %)

  • BSE Quality
    1599.72

    + 28.92
    (+ 1.84 %)

  • BSE Realty
    6162.25

    + 146.69
    (+ 2.44 %)

  • BSE Sensex50
    23514.63

    + 373.51
    (+ 1.61 %)

  • BSE Smallcap
    44932.42

    + 958.06
    (+ 2.18 %)

  • BSE SME IPO
    83462.08

    + 1255.94
    (+ 1.53 %)

  • BSE_Bankex
    57988.55

    + 828.48
    (+ 1.45 %)

  • BSE_CDS
    53357.28

    + 1238.14
    (+ 2.38 %)

  • BSE_CGS
    58275.98

    + 1220.07
    (+ 2.14 %)

  • BSE_FMCG
    19650.68

    + 388.24
    (+ 2.02 %)

  • BSE_HCS
    40041.38

    + 761.07
    (+ 1.94 %)

  • BSE_IT
    32677.63

    + 567.51
    (+ 1.77 %)

  • BSE_PSU
    17688.09

    + 367.85
    (+ 2.12 %)

  • BSE100ESG
    376.37

    + 5.87
    (+ 1.58 %)

  • BSE150MC
    13847.1

    + 275.33
    (+ 2.03 %)

  • BSE200
    10175.05

    + 176.24
    (+ 1.76 %)

  • BSE200EQUALW
    11492.53

    + 224.90
    (+ 2.00 %)

  • BSE250LMC
    9625.86

    + 167.27
    (+ 1.77 %)

  • BSE250SC
    5808.87

    + 118.71
    (+ 2.09 %)

  • BSE400MSC
    10350.66

    + 207.77
    (+ 2.05 %)

  • BSE500
    32233.7

    + 569.34
    (+ 1.80 %)

  • BSECMINSURAN
    1860.85

    + 38.31
    (+ 2.10 %)

  • BSEDollex30
    7070.68

    + 78.20
    (+ 1.12 %)

  • BSEINTERNECO
    2541.3

    + 75.81
    (+ 3.07 %)

  • BSENAT
    23581.83

    + 399.45
    (+ 1.72 %)

  • BSEPOWENERGY
    3538.47

    + 50.55
    (+ 1.45 %)

  • BSESELECTBG
    3699.98

    + 63.31
    (+ 1.74 %)

  • BSESELIPO
    4086

    + 86.21
    (+ 2.16 %)

  • BSESEN606535
    30711.77

    + 547.30
    (+ 1.81 %)

  • BSESENSEX60
    30409.72

    + 502.10
    (+ 1.68 %)

  • BSESENSEXEW
    71940

    + 1150.59
    (+ 1.63 %)

  • BSESensexN30
    34347.97

    + 810.33
    (+ 2.42 %)

  • BSESensexN50
    75101.58

    + 1605.44
    (+ 2.18 %)

  • BSETECk
    16172.42

    + 312.83
    (+ 1.97 %)

  • DOLLEX
    1965.53

    + 26.98
    (+ 1.39 %)

  • Dollex 100
    2830.5

    + 37.74
    (+ 1.35 %)

  • CNX 100
    23077.65

    + 399.75
    (+ 1.76 %)

  • CNX 200
    12465

    + 222.65
    (+ 1.81 %)

  • CNX Auto
    20138.15

    + 322.60
    (+ 1.62 %)

  • CNX Bank
    50511

    + 650.90
    (+ 1.30 %)

  • CNX Commo
    7980.7

    + 131.10
    (+ 1.67 %)

  • CNX Consum
    10654.95

    + 204.10
    (+ 1.95 %)

  • CNX DOI
    5600.6

    + 103.70
    (+ 1.88 %)

  • CNX Energy
    31866.75

    + 452.20
    (+ 1.43 %)

  • CNX Fin
    24301.5

    + 393.05
    (+ 1.64 %)

  • CNX FMCG
    54300.25

    + 1059.10
    (+ 1.98 %)

  • CNX HighBeta
    3221.55

    + 77.10
    (+ 2.45 %)

  • CNX Infra
    8109.2

    + 149.25
    (+ 1.87 %)

  • CNX IT
    33244.4

    + 575.60
    (+ 1.76 %)

  • CNX LVI
    23010.55

    + 425.70
    (+ 1.88 %)

  • CNX Media
    1497.45

    + 67.55
    (+ 4.72 %)

  • CNX Metal
    7965.6

    + 119.25
    (+ 1.51 %)

  • CNX Midcap
    49838

    + 1028.55
    (+ 2.10 %)

  • CNX MNC
    25371.6

    + 345.90
    (+ 1.38 %)

  • CNX Pharma
    20377.9

    + 382.40
    (+ 1.91 %)

  • CNX PSE
    9056.55

    + 165.05
    (+ 1.85 %)

  • CNX PSU Bank
    6249.95

    + 160.75
    (+ 2.63 %)

  • CNX Realty
    795.4

    + 19.20
    (+ 2.47 %)

  • CNX Shar 500
    6376.2

    + 106.95
    (+ 1.70 %)

  • CNX Smallcap
    15389

    + 321.10
    (+ 2.13 %)

  • CNX SSI
    30036.6

    + 470.50
    (+ 1.59 %)

  • CNX500
    20480.8

    + 375.10
    (+ 1.86 %)

  • CPSE
    5918.3

    + 97.65
    (+ 1.67 %)

  • LIX 15
    6274.55

    + 109.60
    (+ 1.77 %)

  • LIX15 Midcap
    12431.7

    + 380.40
    (+ 3.15 %)

  • N500MC502525
    14094.1

    + 270.15
    (+ 1.95 %)

  • N500MOM50
    45216.95

    + 1167.70
    (+ 2.65 %)

  • N500MUCIFFTT
    12478.25

    + 222.10
    (+ 1.81 %)

  • N500MUCIMFTT
    13005.6

    + 213.85
    (+ 1.67 %)

  • N5HMFMQVLv50
    27646.1

    + 568.30
    (+ 2.09 %)

  • NI 15
    10268.4

    + 200.30
    (+ 1.98 %)

  • NIF Mobility
    17681.75

    + 361.80
    (+ 2.08 %)

  • NIF100A30
    15778.75

    + 322.70
    (+ 2.08 %)

  • NIF200A30
    21549.4

    + 566.15
    (+ 2.69 %)

  • NIF200MOME30
    26582.65

    + 585.20
    (+ 2.25 %)

  • NIF500LMSECW
    15409.75

    + 304.85
    (+ 2.01 %)

  • NIF500LOWV50
    19626.35

    + 413.70
    (+ 2.15 %)

  • NIF500QLTY50
    16474.35

    + 328.40
    (+ 2.03 %)

  • NIF500VAL50
    12639.65

    + 232.60
    (+ 1.87 %)

  • NIFALV30
    24495.2

    + 431.75
    (+ 1.79 %)

  • NIFAQLV30
    20278.25

    + 329.65
    (+ 1.65 %)

  • NIFAQVLV30
    18475.05

    + 338.85
    (+ 1.86 %)

  • NIFCOREHOUSE
    14606.85

    + 308.00
    (+ 2.15 %)

  • NIFCORPMAATR
    31566.65

    + 503.95
    (+ 1.62 %)

  • NIFEVNAA
    2481.65

    + 38.60
    (+ 1.57 %)

  • NIFFINSEREXB
    25829.65

    + 835.70
    (+ 3.34 %)

  • NIFFS2550
    25947.05

    + 547.50
    (+ 2.15 %)

  • NIFINDIADIGI
    7822.95

    + 183.60
    (+ 2.40 %)

  • NIFINDIAMANU
    12317.15

    + 208.15
    (+ 1.71 %)

  • NIFINDIANAC
    10151

    + 225.50
    (+ 2.27 %)

  • NIFMC150M50
    53031.3

    + 1428.80
    (+ 2.76 %)

  • NIFMC150Q50
    20936.65

    + 425.80
    (+ 2.07 %)

  • NIFMCSELECT
    11042

    + 272.50
    (+ 2.53 %)

  • NIFMICCAP250
    20021.25

    + 471.35
    (+ 2.41 %)

  • NIFMIDSMLFS
    14850.75

    + 436.90
    (+ 3.03 %)

  • NIFMIDSMLHC
    39162.6

    + 682.15
    (+ 1.77 %)

  • NIFMIDSMLITT
    8406.35

    + 158.20
    (+ 1.91 %)

  • NIFMSINDCONS
    17964.1

    + 316.10
    (+ 1.79 %)

  • NIFNONCYCSMR
    14969.7

    + 312.90
    (+ 2.13 %)

  • NIFQLV30
    15867.55

    + 281.65
    (+ 1.80 %)

  • NIFSC250Q50
    23037.8

    + 389.75
    (+ 1.72 %)

  • NIFTOP15EW
    9384.15

    + 161.40
    (+ 1.75 %)

  • NIFTOP20EW
    8371.45

    + 151.85
    (+ 1.84 %)

  • NIFTOTALMAR
    11506.15

    + 212.95
    (+ 1.88 %)

  • Nifty CD
    34888.55

    + 879.85
    (+ 2.58 %)

  • Nifty CM
    3315.3

    + 104.10
    (+ 3.24 %)

  • NIFTY DEF
    6118

    + 145.90
    (+ 2.44 %)

  • Nifty Health
    13264.25

    + 215.35
    (+ 1.65 %)

  • Nifty IPO
    1740.45

    + 30.85
    (+ 1.80 %)

  • Nifty LMC250
    14235.1

    + 271.15
    (+ 1.94 %)

  • Nifty MCap50
    14064.25

    + 307.65
    (+ 2.23 %)

  • Nifty MSC400
    16989.15

    + 355.80
    (+ 2.13 %)

  • NIFTY OILGAS
    10068.35

    + 216.85
    (+ 2.20 %)

  • Nifty PBI
    25083.05

    + 314.50
    (+ 1.26 %)

  • Nifty Rural
    13706.45

    + 276.45
    (+ 2.05 %)

  • Nifty SCap50
    7424.85

    + 149.50
    (+ 2.05 %)

  • NIFTY SME
    12899.2

    + 267.21
    (+ 2.11 %)

  • Nifty TG25
    13848.35

    + 199.65
    (+ 1.46 %)

  • Nifty TL
    19498.6

    + 354.60
    (+ 1.85 %)

  • Nifty100 EWI
    29205.6

    + 573.00
    (+ 2.00 %)

  • Nifty100LV30
    18268.2

    + 300.50
    (+ 1.67 %)

  • Nifty200Q30
    18516.25

    + 345.70
    (+ 1.90 %)

  • Nifty50 EWI
    28175.1

    + 556.30
    (+ 2.01 %)

  • NIFTY500EW
    12205.2

    + 248.85
    (+ 2.08 %)

  • NiftyAlpha50
    44026.2

    + 1253.50
    (+ 2.93 %)

  • NiftyHousing
    10392.75

    + 172.60
    (+ 1.68 %)

  • NiftyMCap150
    18387.05

    + 381.95
    (+ 2.12 %)

  • NiftySCap250
    14498.4

    + 308.20
    (+ 2.17 %)

  • NIFTYTOP10EW
    8883.45

    + 140.80
    (+ 1.61 %)

  • NiftyTourism
    8697.5

    + 242.40
    (+ 2.86 %)

  • NMSC400MQ100
    41817

    + 943.90
    (+ 2.30 %)

  • NSC250MQ100
    40004.85

    + 702.50
    (+ 1.78 %)

  • NSEMID
    60807.55

    + 1261.35
    (+ 2.11 %)

  • NSEQuality30
    5063.45

    + 91.45
    (+ 1.83 %)

  • NV 20
    11894.5

    + 191.10
    (+ 1.63 %)

Global Indices

  • DOW Jones
    37645.59

    -320.01
    (-0.84 %)

  • Nasdaq
    15267.91

    -335.35
    (-2.15 %)

  • S&P 500
    4982.77

    -79.48
    (-1.57 %)

  • Nikkei 225
    33012.58

    + 1876.00
    (+ 6.03 %)

  • Hang Seng
    20127.68

    + 299.38
    (+ 1.51 %)

  • Shanghai Composite
    3145.55

    + 48.97
    (+ 1.58 %)

  • Straits Times
    3469.47

    -71.03
    (-2.01 %)

  • FTSE 100
    7956.18

    + 254.10
    (+ 3.30 %)

Forex

  • USDINR 85.9085
    0.11
    GBPINR 109.8672
    -0.73
  • JPYINR 58.2500
    -1.38
    EURINR 94.2972
    -0.17

GUJARAT INDUSTRIES POWER COMPANY LTD.

08 April 2025 | 12:00

Industry >> Power - Generation/Distribution

Select Another Company

ISIN No INE162A01010 BSE Code / NSE Code 517300 / GIPCL Book Value (Rs.) 217.10 Face Value 10.00
Bookclosure 20/09/2024 52Week High 270 EPS 12.79 P/E 13.79
Market Cap. 2737.70 Cr. 52Week Low 148 P/BV / Div Yield (%) 0.81 / 2.24 Market Lot 1.00
Security Type Other

NOTES TO ACCOUNTS

You can view the entire text of Notes to accounts of the company for the latest year
Year End :2024-03 

48. Post-Employment Benefits:

a. Defined Contribution plans:

The Company makes contributions towards provident fund, pension scheme and superannuation fund to Defined Contribution retirement benefit plan for qualifying employees.

The Company pays fixed contribution to fund at predetermined rates to a separate trust, which invests the funds in permitted securities. The obligation of the Company is to make such fixed contribution and to ensure a minimum rate of return to the members as specified by Government of India.

Provident Fund is governed through a separate trust. The Board of Trustees of the Trust functions in accordance with any applicable guidelines or directions that may be issued in this behalf from time to time by the Central Government or the Central Provident Fund Commissioner, the board of trustees have the following responsibilities:

i. Investments of the surplus as per the pattern notified by the Government in this regard so as to meet the requirements of the fund from time to time.

ii. Raising of moneys as may be required for the purposes of the fund by sale, hypothecation or pledge of the investment wholly or partially.

iii. Fixation of rate of interest to be credited to members' accounts.

The provident fund plan is operated by the Gujarat Industries Power Company Ltd. Provident Fund Trust (the Trust). Eligible employees receive benefits from the said trust which is a defined contribution plan. Under the plan, the Company is required to contribute a specified percentage of employee's salary to the retirement benefit plan to fund the benefits. The Company has recognised ' 912.55 lakhs (P.Y. ' 399.69 lakhs) for Provident Fund contributions, ' 62.64 lakhs (P.Y. ' 67.59 lakhs) for Pension Scheme and ' 167.31 lakhs (P.Y. ' Nil) for National Pension Scheme (NPS) in the Statement of Profit and Loss.

The minimum interest rate payable by the Trust to the beneficiaries every year is being notified by the Government. The Company has an obligation to make good the shortfall, if any, between the return from the investments of the Trust and the notified interest rate.

The superannuation fund plan is operated by Life Insurance Corporation of India (LIC) under its scheme of superannuation. The eligible employees receive benefit under the said scheme from LIC. Under the plan, the Company is required to contribute a specified percentage of employee's basic salary to the retirement benefit plan to fund the benefits. The Company has recognised ' 227.07 lakhs (P.Y. ' 1 75.12 lakhs) for Superannuation Fund contributions in the Statement of Profit and Loss.

b. Defined Benefit plans:

Earned Leave (EL) Benefit Accrual - 30 days per year

Encashment while in service - Earned Leave balance subject to a minimum available 45 days per calendar year. Encashment on retirement - maximum 300 days.

Sick Leave (SL) Benefit

Accrual - 10 days per year

The leave is encashable. Leave encashment occurs due to retirement and death. There is no limit on maximum accumulation of leave days.

Gratuity

The gratuity policy has been amended during the year from "a range of 15 to 20 days based on range of completed year of service" to "a range of 15 to 23 days based on range of completed year of service". The impact of the said amendment of previous years of ' 763.93 lakhs is disclosed as past service cost in the below reconciliations.

Vesting period is 5 years and the payment is at actual on superannuation, resignation, termination, disablement or on death. Scheme is not funded. The liability for gratuity as above is recognised on the basis of actuarial valuation. Post-Retirement Medical Benefits

The Post-Retirement Medical Benefit (PRMB) policy under which the retired employees and their spouses are provided with reimbursement of Insurance Premium restricted to ' 30,000/- plus taxes.

The liability for the same is recognised annually on the basis of actuarial valuation. An employee should have put in a minimum of 10 years of service rendered in continuity in GIPCL at the time of superannuation to be eligible for availing post-retirement medical facilities.

These plans typically expose the Company to actuarial risks such as: investment risk, interest rate risk, longevity risk and salary risk.

i. Investment risk

The present value of the defined benefit plan liability is calculated using a discount rate which is determined by reference to market yields at the end of the reporting period on government bonds. When there is a deep market for such bonds; if the return on plan asset is below this rate, it will create a plan deficit. Currently, for these plans, investments are made in Government securities, Debt instruments, Short term debt instruments, Equity instruments and Asset backed, Trust structured securities as per notification of Ministry of Finance.

ii. Interest risk

A decrease in the bond interest rate will increase the plan liability; however, this will be partially offset by an increase in the return on the plan's investments.

iii. Longevity risk

The present value of the defined benefit plan liability is calculated by reference to the best estimate of the mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan's liability.

iv. Salary risk

The present value of the defined benefit plan liability is calculated by reference to the future salaries of plan participants. As such, an increase in the salary of the plan participants will increase the plan's liability.

No other post-retirement benefits are provided to these employees.

In respect of the above plans, the most recent actuarial valuation of the plan assets and the present value of the defined benefit obligation were carried out as at 31st March 2024 by Actuaries. The present value of the defined

The sensitivity analysis presented above may not be representation of the actual change in the defined benefit obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated.

Furthermore, in presenting the above sensitivity analysis, the present value of the defined benefit obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same as that applied in calculating the defined benefit obligation liability recognised in the Balance Sheet.

49. Operating Segment

a. The Company's operations fall under single segment namely "Power Generation", taking into account the different risks and returns, the organization structure and the internal reporting systems hence no separate disclosure of Operating Segment is required to be made as required under Ind AS - 108 "Operating Segment".

b. Information about major customers

Revenue from sales (which exceeds 10% of total revenues) amounting to ' 126,220.71 lakhs (P.Y. ' 127,559.77 lakhs) is derived from a single customer which is a state Public Sector Undertaking.

c. Information about geographical areas:

Segment revenue from "Sale of Power" represents revenue generated from external customers which is fully attributable to the Company's Country of Domicile i.e. India.

All assets are located in the Company's Country of domicile.

d. Information about products and services

The Company derives revenue from sale of power. The information about revenues from external customers is disclosed in Note no. 34 of the Financial Statements.

50. Financial instruments disclosure:

I. Capital management

The Company's objective when managing capital is to:

a. Safeguard its ability to continue as going concern so that the Company is able to provide maximum return to stakeholders and benefits for other stakeholders; and

b. Maintain an optimal capital structure to reduce the cost of capital.

The Company maintains its financial framework to support the pursuit of value growth for shareholders, while ensuring a secure financial base. In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt.

The capital structure of the Company consists of total equity and debt.

Management of the Company reviews the capital structure on a regular basis. As part of this review, the management considers the cost of capital, risks associated with each class of capital requirements and maintenance of adequate liquidity.

III. Financial risk management objectives

While ensuring liquidity is sufficient to meet Company's operational requirements, the Company's management also monitors and manages key financial risks relating to the operations of the Company by analysing exposures by degree and magnitude of risks. These risks include market risk (including currency risk and price risk), credit risk and liquidity risk.

Market Risk

Market risk is the risk or uncertainty arising from possible market price movements and their impact on the future performance of a business. The major components of market risk are commodity price risk and interest rate risk.

Interest rate risk management - Borrowings

The Company's main interest rate risk arises from the long-term borrowings with floating rates.

The Company's floating rates borrowings are carried at amortised cost. Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company's exposure to the risk of changes in market interest rates relates primarily to the Company's long-term debt obligations with floating interest rates. Interest rate risk management - Investment

The Company invests the surplus fund generated from operations in bank deposits. Bank deposits are made for a period of upto 12 months and carry interest rate of 6.25%-7.85% as per prevailing market interest rate. Considering these bank deposits are short term in nature, there is no significant interest rate risk.

Price risks

The Company's equity securities price risk arises from investments held and classified in the Balance Sheet at fair value through OCI. The Company's equity investments in GACL & Gujarat Gas Ltd are publicly traded.

Price sensitivity analysis

The sensitivity of profit or loss in respect of investments in equity shares at the end of the reporting period for /-5% change in price and net asset value is presented below:

Other comprehensive income for the year ended 31st March 2024 would increase / decrease by ' 61 7.99 lakhs (P.Y. ' 529.49 lakhs) as a result of 5% changes in fair value of equity investments measured at FVTOCI.

Credit risk management

Credit risk arises from cash and cash equivalents, investments carried at amortized cost and deposits with banks as well as customers including receivables. Credit risk management considers available reasonable and supportive forward-looking information including indicators like external credit rating (as far as available), macro-economic information (such as regulatory changes, government directives, market interest rate).

Major customers, being power purchasing companies having highest credit ratings, carry negligible credit risk. Concentration of credit risk to any other counterparty did not exceed 15 % of total monetary assets at any time during the year.

Credit exposure is managed by counterparty limits for investment of surplus funds which is reviewed by the Management. Investments in liquid plan/schemes are with public sector Asset Management Companies having highest rating. For banks, only high rated banks are considered for placement of deposits.

Bank balances are held with reputed and creditworthy banking institutions.

Liquidity risk management

The Company manages liquidity risk by maintaining sufficient cash and cash equivalents including bank deposits and availability of funding through an adequate amount of committed credit facilities to meet the obligations when due. Management monitors rolling forecasts of liquidity position and cash and cash equivalents on the basis of expected cash flows. In addition, liquidity management also involves projecting cash flows considering level of liquid assets necessary to meet obligations by matching the maturity profiles of financial assets & liabilities and monitoring balance sheet liquidity ratios.

The following tables detail the Company's remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods. The information included in the tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company can be required to pay. The tables include both interest and principal cash flows. The contractual maturity is based on the earliest date on which the Company may be required to pay.

52. The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

a. directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries) or

b. provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

53. The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

a. directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

b. provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

54. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.

55. Approval of Financials Statements

The Financial Statements were approved for issue by the Board of Directors on 18th May 2024.