Licencee:- Grid Corporation of Orissa Limited.

Annex-3

CALCULATION OF CAPITAL BASE AND REASONABLE RETURN FOR FINANCIAL YEAR 2001-02

[In accordance with para XVII of Schedule VI of Electricity (Supply) Act, 1948]

(Rs. in Crores.)

A.

 

GRIDCO Poposal 2001-02

2001-02 (Without corrective)

(a)

Original cost of fixed asset Less contribution for deposit works

1992.63

1976.85

1976.85

(b)

Cost of intangible asset

6.08

6.08

6.08

(c)

The original cost of Work in progress

540.90

540.90

540.90

(d)

The amount of investment compulsorily made under para-IV

18.65

18.65

18.65

(e)

An amount on account of working capital equal to the sum of

     

(i)

Average cost of stores (1/12th of the sum of the stores materials and suppliers at the end of each month of the year)

16.29

4.00

4.00

(ii)

Average cash and bank balance (1/12th of the sum of cash and bank balance whether credit or debit and call and short term deposits at the end of each month of the year)

14.80

15.87

15.87

Total of A:

2589.35

2562.34

2562.34

Less

       

B.

       

i)

The amounts written off or set aside on account of depreciation of fixed assets.

437.91

392.59

392.59

ii)

The amount of any loan advanced by Board.

1390.97

3097.27

3097.27

ii-a)

The amount of any loans borrowed from organisations or institutions approved by the State Govt.

     

ii-b)

The amount of any debenture issued by the licensee.

     

iii)

***

     

iv)

The amount standing to the credit of Tariffs and Dividends control reserve at the beginning of the year of account.

   

0.00

v)

The amount standing to the credit of the Development reserve at the close of the year.

   

0.00

vi)

The amount carried forward (at the beginning of the year of accounting) in the accounts of the Licensee for distribution

   

0.00

Total of B:

1828.89

3489.86

3489.86

 

Capital Base (A-B)

760.46

-927.51

-927.51

 

Reasonable return

     

a)

RBI rate at the beginning of that year + 5% on investment made upto 31.3.99 +

111.66

0.00

0.00

b)

16% on investment made after 31.3.99 +

   

0.00

c)

0.5% of loan outstanding as at the end of the year

6.95

15.49

15.49

TOTAL (a+b+c)

118.61

15.49

15.49

Calculation of Reasonable Return

1

Capital Base allowed by the Commission in its Tariff Order Dated 21.12.98 for the year 98-99

333.90

333.90

333.90

2

Capital Base Calculated for the year 2001-02

760.46

0.00

0.00

3

Additional Capital Base during the period from 31.03.99 to 31.03.02

426.56

0.00

0.00

4

13% Return on Capital Base as on 31.03.99

43.41

0.00

0.00

5

16% Return on additional investment

68.25

0.00

0.00

6

0.5% on Loan Outstanding

6.95

15.49

15.49

7

Total Reasonable Return

118.61

15.49

15.49


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