AYUSHI THAKKAR - SEC-C - FAR - Individual Assignment I

INSTITUTE OF MANAGEMENT,
NIRMA UNIVERSITY
MBA-FT (2021-2023)
FINANCIAL ACCOUNTING AND REPORTING

INDIVIDUAL ASSIGNMENT 1
SUBMITTED TO: Prof. Shantanu Mehta
SUBMITTED BY: Thakkar Ayushi (211167)
Division C
Report on
NLC India Limited

(‘Navratna’ – A Government of India
Enterprises)
Page 1 of 7
CONTENTS
INTRODUCTION 3
ABOUT THE COMPANY 3
COMPANY’S AUDITORS AND COMPANY SECRETARY 3
STATUTORY AUDITORS 3
BRANCH AUDITOR 3
COST AUDITOR 4
SECRETARIAL AUDITOR 4
STOCK MARKET DATA 4
B0ARD OF DIRECTORS OF THE COMPANY AND MEMBERS OF THE
AUDIT COMMITTEE 5
BOARD OF DIRECTORS 5
AUDITOR’S COMMITTEE 6
PUBLIC DOMAIN INFORMATION 6
REFERENCES 7
Page 2 of 7

Introduction
About the company
As of 1956, Neyveli Lignite Corporation Limited (NLC) was a NAVRATNA
corporation. Its primary business is mining and electricity generation. the
Andaman and Nicobar Islands are now served by the business. It operates
three opencast lignite mines in Neyveli, with a total installed capacity of
28,50 Million Tonnes Per Annum (MTPA), one opencast lignite mine in
Barsingsar, Rajasthan, with an installed capacity of 2,10 MTPA, and an
opencast coal mine in Talabira, odisha, with an installed capacity of 20
MTPA. It is Mining and Electric utility industry and stands among top 20
businesses in the power industry
Product and services offered
Main product and services provided by NLC India are Lignite Mining Coal
• Mining
• Thermal Power Generation
• Renewable Energy Generation (Solar &Wind)
Company’s Auditors and Company Secretary

STATUTORY AUDITORS
• M/s. PKKG Balasubramaniam & Associates,
Chartered Accountants,
Door No.1o/2, Eighth Street,Gandhi Nagar,
Thiruvannamalai - 6O6 6O2.
• M/s. R Subramanian and Company LLP,

New No.6 old. No.36,
Krishna Swamy Avenue, Luz Mylapore, Chennai – 6OO OO4.
BRANCH AUDITOR
• M/s. Bhandawat and Company,
Khetan Bhavan, M.I. Road,
Jaipur - 3O2OO1.
Page 3 of 7
 
 

COST AUDITOR
• M/s. Dhananjay V Joshi & Associates,
Cost Accountants, ‘CMA Pride’
Ground Floor, Plot No.6,
S.No.16/6, Erandawana Co.op. Hsg. Soc.,
Erandawana, Pune - 411OO4.
SECRETARIAL AUDITOR
• M/s. A.K. Jain & Associates,Practising Company Secretaries,
N0 2 (New N0 3), Raja Annamalai Road,
Chennai - 6OOO84.
Stock Market Data

DATA DATE NSE BSE
HIGH 12-Jul-19 72.7 72.5
LOW 18-Mar-20 34.95 35.05
Page 4 of 7

 
B0ard of Directors of the Company and
Members of the Audit Committee
Board of Directors
As on 31st March, 2O2O, the B0ard of Directors of your Company

comprised an Executive Chairman, ve Executive Directors, two Non-
executive Directors and four Independent Directors.
Sl.
Name (Sarvashri) Designation
No.
Executive Directors
1 Rakesh Kumar Chairman-cum-Managing Director
2 R.Vikraman Director(Human Resource)
Nadella Naga Maheswar
3 Director(Planning & Projects)
Rao
4 Prabhakar Chowki Director(Mines)
5 Shaji John Director(Power)
6 Jaikumar Srinivasan Director(Finance)
Non-executive Directors
7 Vinod Kumar Tiwari Ministry of Coal - Part-time of cial Director
Energy Department- Part-time of cial
8 A Karthik
Director
Independent Directors
9 Indrajit Pal Part-time Non-of cial Director
1o Dr.P.Vishnu Dev Part-time Non-of cial Director
11 Dr V Muralidhar Goud Part-time Non-of cial Director
N K Narayanan
12 Part-time Non-of cial Director
Namboothiri
Page 5 of 7
 
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Auditor’s Committee
As on 31st march 2O19, the Audit Committee comprises of three
Independent Directors and Two Executive Directors.
SR. NAME OF MEMBER DESIGNATION

No
1 Dr. P. Vishnu Dev Chairman.
2 Dr. V. Muralidhar Goud Member
3 N K Narayanan Namboothiri Member
Public Domain Information

• NLC India, a mining and power rm in the public sector, has agreed to
pay contract workers' salaries. Under the Industrial Dispute Act, 1947,
NLC India claimed it was a "historic settlement" that included contract
employees' salaries and other bene ts.
• The value of NLCIL's stock increased by about 7% on April 9, 2O2O,
when the rm reopened after being shut down on March 26.
• F0r the Prime Minister Citizen Assistance and Relief in Emergency
Situations Fund, the rm has given 25 crore (Prime Minister Care Fund).
Employees gave their one-day wage, resulting in a total donation of 5
crore.
• In order to ensure their safety, NLCIL has set up four medical clinics on-
site to assess migrant workers' health.
• Since May 2O2O, NLCIL has provided rice, food goods, and face masks
for a total of . 25OOO households in 21 villages received the food
baskets.
• Pr0m0ters holding remains unchanged at 79.2% in Jun 2O21 qtr
• Mutual Funds have decreased h0ldings fr0m 6.0% to 3.44% in Jun 2O21
qtr
• Number 0f MF schemes decreased fr0m 7 t0 6 in Jun 2O21 qtr
• FII/FPI have increased h0ldings fr0m 0.4% t0 0.41% in Jun 2O21 qtr.
• Number 0f FII/FPI invest0rs increased fr0m 43 to 45 in Jun 2O21 qtr.
• Instituti0nal Invest0rs have decreased h0ldings from 14.13% to 11.58% in
Jun 2O21 qtr
Page 6 of 7
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References
thehindubusinessline.com (2020,August)
Retrieved from:-
https://www.thehindubusinessline.com/news/nlc-trade-unions-sign-pact-for-wage-hike-
for-14000-contract-staff/article32319192.ece
E-news. (2020, April). Retrieved from :-

https://www.nlcindia.in/new_website/journal/journal.htm
E-news. (2020, May). Retrieved from :-

https://www.nlcindia.in/new_website/journal/journal.htm
https://www.nlcindia.in/new_website/index.htm
https://neyveliweb.tripod.com/disinvestment.htm
Page 7 of 7
 
 

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INSTITUTE OF MANAGEMENT,

FINANCIAL ACCOUNTING AND REPORTING

SUBMITTED TO: Prof. Shantanu Mehta

SUBMITTED BY: Thakkar Ayushi (211167)

NLC India Limited

Company’s Auditors and Company Secretary

• M/s. R Subramanian and Company LLP,

Stock Market Data

As on 31st March, 2O2O, the B0ard of Directors of your Company

SR. NAME OF MEMBER DESIGNATION

Public Domain Information

E-news. (2020, April). Retrieved from :-

E-news. (2020, May). Retrieved from :-

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