CHILIME JALAVIDHYUT THE PIONEER COMPANY LIMITED An … · CHILIME JALAVIDHYUT COMPANY LIMITED...
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CHILIME JALAVIDHYUTCOMPANY LIMITED
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df pNn]v eP cg';f/ vl/b ub{5 . pQm ;+emf}tfdf jflif{s !# s/f]8 @( nfv !* xhf/ ljB't o"lg6sf] k|lt o"lg6 ¿=*=!& sf b/n] / ;f] eGbf a9L pTkfbg x'g ;s]sf] v08df / g]kfn ljB't k|flws/0fnfO{ cfjZos e} dfu ePdf pNn]lvt b/sf] cfwf b/ cyf{t\ ¿=$=)* sf b/n] vl/b ug{ ;Sg] k|fjwfg pNn]v 5 . o;/L PPA df pNn]lvt sG6«ofS6 O{ghL{ eGbf yk ljB't pTkfbg u/L ljqmLaf6 k|fKt x'g] cfonfO{ clws ljqmLjf6 k|fKt cfo elgPsf] 5 . cf=j= @)&$÷)&% df o; sDkgLn] !% s/f]8 %% nfv !# xhf/ o'lg6 ljB't pTkfbg ug]{ nIo /fv]sf]df hDdf !$ s/f]8 (@ nfv ** xhf/ o'lg6 ljB't pTkfbg ug{ ;kmn ePsf] 5 . o; cf=j= df lrlnd] vf]nfdf kfgLsf] axfj -Hydrology_ t'ngfTds ¿kdf sdL ePsf] sf/0f ljB't pTkfbg s]xL sd x'Fbf ljqmL cfodf ;fdfGo sdL cfPsf] 5 .
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ljj/0fcfly{s jif{ -?=_ a[l4 -sdL_
@)&$÷)&% @)&#÷)&$ /sd ?= k|ltzt
ljB't ljqmL cfDbfgL !,!#*,$## !,!(^,*() -%*,$%&_ -$=**_
ljqmLsf] nfut -!@%,##$ -!#!,*)*_ ^,$&$ -$=(!_
k|zf;lgs vr{ -%(,)#%_ -&#,%#)_ !$,$(^ -!(=&!_
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s/ tyf sd{rf/L jf]gz cl3sf] gfkmf (%^,$!& (^#,#*@ -^,(^%_ -)=&@_
sd{rf/L jf]gz Joj:yf -!*,&%#_ -!*,*()_ !#& -)=&@_
s/ cl3sf] gfkmf (#&,^^$ ($$,$(@ -^,*@*_ -)=&@_
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k|ltz]o/ cfDbfgL @@=(@ @&=)( -$=**_ -!%=$_
11
lrlnd] hnljB't sDkgL lnld6]8
jflif{s k|ltj]bgcf= j= @)&$÷)&%
cf=j= @)&#÷)&$ df @ s/f]8 &% nfv !# xhf/ clws ljB't o"lg6 ljqmL ug{ ;kmn ePsf] / ;f]jf6 ¿=!! s/f]8 @@ nfv %^ xhf/ cfo cfh{g ePsf]df o; cf=j= df ! s/f]8 &) nfv (# xhf/ dfq ljqmL ug{ ;lsPsf sf/0f ;f]jf6 ¿=^ s/f]8 (& nfv #( xhf/ dfq cfo cfh{g ug{ ;lsPsf] 5 . h;jf6 clws ljqmL o"lg6 jfkt ¿= $ s/f]8 @% nfv !& xhf/n] o; cf=j=df sdL cfPsf] 5 . ;du| ljB't ljqmL cfo cGtu{t ut cf=j= @)&#÷)&$ df !^ s/f]8 @ nfv &@ xhf/ o"lg6 g]=lj=k|f= nfO{ ljqmL u/L ¿=! cj{ !( s/f]8 ^* nfv *( xhf/ cfo cfh{g ePsf]df ;ldIff cjlw cf=j= @)&$÷)&% df hDdf !$ s/f]8 &( nfv o"lg6 ljqmL eO{ ¿=! cj{ !# s/f]8 *$ nfv #@ xhf/ dfq cfo cfh{g ePsf] 5 . cf=j= @)&#÷)&$ sf] t'ngfdf $=** k|ltztn] ljB't ljqmL cfodf Go"g x'g uPsf] 5 .
sDkgLn] nufgL ug{ k|ltj4tf hgfP cg';f/ ;xfos sDkgLx¿df z]o/ nufgL k'/f eO{ ;s]sf] x'Fbf sDkgLsf] a}+s df}Hbft a9\b} uPsf] / Jofh b/df klg ;'wf/ cfPsf sf/0f a}+s Jofh cfh{gdf
a[l4 x'Fbf cf=j= @)&#÷)&$ sf] t'ngfdf ljlQo cfDbfgL ¿= @ s/f]8 () nfv ($ xhf/ cyf{t &#=($ k|ltztn] j[l4 ePsf] 5 .
cf=j= @)&#÷)&$ sf] t'ngfdf cf=j= @)&$÷)&% df KnfG6 dd{t nufotsf vr{df jrt ug{ ;lsPsfn] ¿= ^$ nfv &# xhf/ cyf{t $=(! k|ltztn] vr{ sdL ePsf] 5 eg] k|zf;sLo vr{df klg !(=&! k|ltztn] vr{ s6f}lt ePsf] 5 .
sDkgLn] g]kfn ljlQo dfkb08 -Nepal Financial Reporting Standards-NFRS_ cg';f/ ljlQo ljj/0fx¿ tof/ u/]sf] / :yug s/ -Deferred Tax_ ;dfof]hg ;lxt s/ kl5sf] gfkmf ¿=() s/f]8 *& nfv &% xhf/ cfh{g ug{ ;kmn ePsf] 5, h'g ut cf=j= sf] t'ngfdf ¿= @ s/f]8 %@ nfv $( xhf/ cyf{t @=&) k|ltztn] dfq sdL xf] .
ldlt @)^) ef› * ut]af6 sDkgLn] Joj;foLs ljB't pTkfbg z'? u/]b]lv xfn;Ddsf] pTkfbg tyf ljqmLsf] ca:yf lgDgfg';f/ /x]sf] 5M
tflnsf @M ljB't pTkfbg tyf ljs|Lsf] cj:yf
cf=j=nIo
-o'lg6_hDdf pTkfbg
-o'lg6_clws pTkfbg
-o'lg6_hDdf ljs|L
-o'lg6_
@)^)÷)^! 115198 119831 2264 111413 585,837,395
@)^!÷)^@ 132795 134309 2646 124487 690,902,201
@)^@÷)^# 133224 145084 6530 136328 816,607,088
@)^#÷)^$ 132790 147620 7188 139651 903,540,792
@)^$÷)^% 132795 145075 6908 138166 870,014,527
@)^%÷)^^ 137585 146220 11148 142127 883,446,000
@)^^÷)^& 140893 148132 9062 141565 886,564,900
@)^&÷)^* 132795 150110 10076 141856 885,046,000
@)^*÷)^( 142871 156083 13131 145781 900,638,647
@)^(÷)&) 148227 154019 5792 149649 968,553,507
@)&)÷)&! 151541 151390 11233 141113 985,004,000
@)&!÷)&@ 154976 154508 23202 152685 985,004,000
@)&@÷)&# 155513 155518 22718 154792 1,163,118,549
@)&#÷)&$ 155513 155518 22718 154792 !,!(^,**(,&$$
@)&$÷)&% 155513 149288 18933 147900 !,!#*,$#@,*^$
hDdf 3205989 1907899 131898 1819613 13,859,600,214
12
lrlnd] hnljB't sDkgL lnld6]8
jflif{s k|ltj]bgcf= j= @)&$÷)&%
u_ sDkgLsf] k|lt z]o/ cfDbfgL cf=j= @)&#÷)&$ df ?=@&=)( /x]sf]df cf=j= @)&$÷)&% df ?=@@=(@ /x]sf] 5 . ljut cf=j= df !% k|ltzt af]g; z]o/ lbOPsf] sf/0f z]o/ ;+Vof a[l4 x'gfn] k|lt z]o/ cfDbfgL ;f]xL adf]lhd 36\g uPsf] 5 . cf=j=@)&#÷)&$ df k|ltz]o/ gub nfef+z ?= !)÷– / af]g; z]o/ !% k|ltzt lbOPsf]df o; cf=j= @)&$÷)&% sf] nflu r'Qmf k"FhL ?= # cj{ (^ s/f]8 %! nfv !# xhf/sf] % k|ltzt gub nfef+z / @) k|ltzt af]g; z]o/ k|:tfj ul/Psf] 5 . cf=j= @)&$÷)&% sf] nflu k|:tfj ul/Psf] af]g; z]o/ ¿=&( s/f]8 #) nfv @@ xhf/ k"FhLs[t u/]kl5 / gub nfef+z ?=!( s/f]8 *@ nfv %^ xhf/ ljt/0f kl5 sDkgLsf] g]6jy{ k|ltz]o/ ?=!*#=#& x'g]5 .
3_ sDkgLsf] ljut % jif{sf] z]o/ k"FhL, C0f / ;l~rtLsf] cj:yf lgDg u|fkm lrq g+= ! df k|:t't ul/Psf] 5M
cf=j= @)&#÷)&$ df z]o/ k"FhL ?=# cj{ $$ s/f]8 &( nfv @$ xhf/ / nfef+z tyf af]g; Aoj:yf kZrft\ ;+lrtL ?=$ cj{ $ s/f]8 $@ nfv ## xhf/ /x]sf]df cf=j= @)&$÷)&% ;Dddf z]o/ k"FhL ?=# cj{ (^ s/f]8 %! nfv !# xhf/ eO{ ;f] sf] cfwf/df o; aif{sf] nflu gub nfef+z
/ af]g; z]o/ Aoj:yf u/] kZrft ;+lrtL ?= # cj{ (^ s/f]8 &) nfv @* xhf/ /xg]5 eg] k|:tfljt jf]g; z]o/ k'Flhs[t u/]kZrft z]o/ k'FhL ¿= $ cj{ &% s/f]8 *! nfv #% xhf/ k'Ug] 5 .
ª_ sDkgLsf] cf=j= @)&#÷)&$ / @)&$÷)&% sf] z]o/ ahf/ d"Nosf] t'ngfTds l:ylt lrq g+= @ df k|:t't ul/Psf] 5 .
sDkgLsf] z]o/ ahf/sf] l:ylt x]bf{ sDkgLsf] z]o/ d"No @)&$ >fj0f dlxgfdf k|lt z]o/ ?=&*$÷– /x]sf]df @)&% c;f/ d;fGtdf k|lt z]o/ ?=&()÷– sfod /x]sf] b]lvPsf] 5 . o; cf=j= @)&$÷)&% df z]o/sf] jhf/ d"No sl/j l:y/ g} /x]sf] b]lvG5 . s]xL jif{b]lv sDkgLn] gub nfef+z / af]g; z]o/ ljt/0f ub}{ cfPsf], cfˆgf ;xfos sDkgLx¿ dfkm{t gofF cfof]hgfx? lgdf{0fsf] r/0fdf /x]sf] tyf sDkgLsf] ;fv / 5jL -Goodwill and Image_ klg pRr /x]sf] sf/0f z]o/ d"No / sf/f]jf/sf b[li6sf]0faf6 sDkgL pTs[i6 /xg ;kmn ePsf] 5 . cfufdL lbgdf cfˆgf ;xfos sDkgLx¿af6 k|ltkmn kfpg z'¿ u/]kl5 eg] z]o/wgLsf] k|ltkmn klg cem cfslif{t x'g] ljZjf; z]o/wgL dxfg'efjx¿nfO{ lbnfpg rfxG5' .
lrq !M z]o/ k"“hL tyf ;l~rtL
/sd -?= x
hf/df_
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13
lrlnd] hnljB't sDkgL lnld6]8
jflif{s k|ltj]bgcf= j= @)&$÷)&%
tflnsfdf k|:t't ul/Psf] jfx| dlxgfsf] z]o/ d"Nosf] s'n c+snfO{ jfx|n] efu u/L cf}ift d"No lgsflnPsf] 5 h; cg';f/ cf=j= @)&#÷)&$ sf] cf}ift d"No ¿=(*)=&% sf] t'ngfdf cf=j= @)&$÷)&% df cf}ift d"No ¿=*@(=^& cyf{t !%=$) k|ltzt n] sld cfPsf] 5 .
@= af]g; z]o/ tyf gub nfef+z ;DjGwdfMsDkgLn] cf=j= @)^)÷)^! b]lv @)&#÷)&$ ;Dd hDdf ?=# cj{ &% s/f]8 *# nfv *( xhf/ gub nfef+z ljt/0f ul/;s]sf]df cf=j= @)&$÷)&% df k|:tfj ul/Psf] gub nfef+z ;d]t ubf{ ¿= # cj{ (% s/f]8 ^^ nfv $$ xhf/ k'Ug] b]lvG5 . To;} u/L cf=j= @)^&÷)^* b]lv cf=j= @)&#÷)&$ ;Dd hDdf /sd ¿=# cj{ %! nfv !# xhf/ a/fj/sf] af]g; z]o/ ljt/0f ul/;lsPsf] 5 eg] cf=j= @)&$÷)&% df k|:tfj ul/Psf] jf]gz z]o/ ;d]t ubf{ ¿= # cj{ &( s/f]8 *! nfv #% xhf/ ljt/0f ul/g] 5 h'g /sd z'¿sf] z]o/ ;+Vofsf] t'ngfdf #=(^ u'0ff yk x'g cfpF5 . cf=j= @)&$÷)&% df k|:tfj ul/Psf] k|ltkmn ljt/0f kZrft klg cf}ift k|lt z]o/ ;+lrt d'gfkmf ?=*#=#& /xg] s'/f caut u/fpg rfxG5' . nfef+z tyf af]g; z]o/ 3f]if0ffsf] jif{ut ljj/0f tyf k|lt z]o/ cfDbfgL, gub nfef+z tyf k|lt z]o/ ;+lrltsf] jif{ut t'ngf tflnsf # df k|:t't ul/Psf] 5 .
o; cf=j= @)&$÷)&% df sDkgLsf] k|lt z]o/ cfDbfgL ?=@@=(@ ePtf klg ;+lrt d'gfkmfaf6 k|lt z]o/ @=)* Aoj:yf x'g] u/L k|lt z]o/ ?=@% sf b/n] k|ltkmn ljt/0f ug{sf] nflu o; ul/dfdo ;efdf k|:tfj ul/Psf] 5 .
lrq @M sDkgLsf] cf=j= @)&$÷)&% sf] z]o/ ahf/ d"Nosf] l:ylt
o; sDkgLn] cf=j= @)^)÷)^! b]lv g} gub nfef+z ljt/0f ub}{ cfO/x]sf] tYo dflysf] tflnsfaf6 g} :ki6 x'G5 . o;/L 3f]if0ff ul/Psf] gub nfef+z dWo] z]o/ /lhi6«f/n] pknAw u/fPsf] cfFs8f cg';f/ ¿= !% s/f]8 @$ nfv (^ xhf/ ljt/0f ug{ cem} afFsL b]lvG5 .
lrq # df b]vfOP adf]lhd k|lt z]o/ cfDbfgL, ;+lrtL tyf jif{ut ;+lrlt x]bf{ cf=j= @)^)÷)^! sf] efb| dlxgfaf6 dfq ljB't pTkfbg z'? ePsf] / ljs|L b/ klg z'?df sd ePsf] ;fy} ;j{;fwf/0f afx]ssf] ;Dk"0f{ z]o/ hf/L ul/Psf] sf/0f k|ltz]o/ cfDbfgL ?= %% ePsf] b]lvG5 . cf=j= @)^!÷)^@ df aif}{ e/L pTkfbg ePsf] / ljqmLb/ klg a[l4 ePsf] t/ z]o/ ;+Vof eg] oyfjt ePsf sf/0f k|lt z]o/ cfDbfgL a9\g uPsf] b]lvG5 . cf=j= @)^#÷)^$ b]lv cf=j= @)^&÷)^* ;Dd ;j{;fwf/0fnfO{ 5'§fOPsf] z]o/ lgisf;g gePsf] t/ cfDbfgLdf lgoldt j[l4 e} /x]sf sf/0f k|ltz]o/ cfDbfgL a9\b} uPsf] b]lvG5 . t/ cf=j= @)^*÷)^( af6 eg] ;Dk"0f{ z]o/ lgZsf;g eO;s]sf] / sDkgLn] jf]gz z]o/ ;d]t lb+b} uPsf] x'Fbf z]o/ ;+Vofdf j[l4 ePsf]n] k|ltz]o/ cfDbfgL qmdz 36\b} uPsf] 5 .
#= sDkgLsf] efjL of]hgf Pj+ sfo{qmdM-s_ b]z leqs} cfly{s tyf k|fljlws nufotsf >f]t
;fwgsf] plrt pkof]u ub}{ ;j{;fwf/0f hgtfsf] j[xt ;xefuLtfdf hnljB't pTkfbg If]qdf of]ubfg k'¥ofpg] nIosf ;fy sDkgLn] laleGg hnljB't cfof]hgfx?sf] k|j4{g tyf ljsf; ul//x]sf] 5 . hnljB't cfof]hgf ljsf;sf nflu sDkgLn] tLg j6f hnljB't sDkgLx? k|j4{g u/L tL
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14
lrlnd] hnljB't sDkgL lnld6]8
jflif{s k|ltj]bgcf= j= @)&$÷)&%
sDkgLx¿ dfkm{t !!! d]ufjf6 Ifdtfsf] /;'jfu9L hnljB't cfof]hgf, !)@ d]ufjf6 Ifdtfsf] dWo ef]6]sf]zL hnljB't cfof]hgf, !$=* d]ufjf6 Ifdtfsf] ;fGh]g -dflyNnf]_ / $@=% d]ufjf6 Ifdtfsf] ;fGh]g hnljB't cfof]hgf ;d]t u/L s"n @&)=#) d]ufjf6 hl8t Ifdtfsf hnljB't cfof]hgfx?sf] lgdf{0f sfo{ cufl8 a9fPsf] Joxf]/f oxfFx¿nfO{ cjut g} 5 . yk hnljB't
cfof]hgfx¿sf] klxrfg tyf ljsf;sf nflu gLlh If]qsf nufgLstf{x¿, g]kfn ljB't k|flws/0f tyf o;sf cGo ;Dj¢ sDkgLx¿;Fu ;xsfo{ tyf ;dGjo u/L xfdL cufl8 al9/x]sf] Joxf]/f cjut u/fpg rfxG5' .
o;/L sDkgLsf] k|ToIf ;xefuLtfdf hnljB't cfof]hgfx?sf] ljsf; x'Fbf sDkgL;Fu ePsf]
cf=j=k|ltz]o/ cfDbfgL
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15
lrlnd] hnljB't sDkgL lnld6]8
jflif{s k|ltj]bgcf= j= @)&$÷)&%
cfly{s ;|f]t tyf k|fljlws bIftfsf] clwstd pkof]u eO{ sDkgLsf] nufgL ug]{ Ifdtf u'0ffTds ?kdf a[l4 x'g hfg] ljZjf; xfdLn] lnPsf 5f} . o;af6 z]o/wgL dxfg'efjx?nfO{ cfˆgf] nufgLdf plrt k|ltkmn k|fKt x'g]5 eg] gLlh If]qsf nufgLstf{x?;Fusf] ;xsfo{n] hnljB't If]qsf] ljsf;df yk 6]jf k'Ug] ;fy} g]kfnsf] hnljB't If]qsf] ljsf;sf nflu ;fj{hlgs–gLlh–;fem]bf/L -Public-Private-Partnership_ sf] cjwf/0ffdf cfwfl/t Pp6f ;'b[9 ;kmn gd'gf -Successful Model_ tof/ x'g] ljZjf;sf ;fy xfdL cufl8 al9/x]sf] tYo oxfFx¿nfO{ cjut g} 5 .
-v_ o; sDkgLsf] ztk|ltzt nufgLdf lrlnd] OlGhlgol/ª P08 ;le{;]h sDkgL :yfkgf u/L o;af6 k/fdz{ ;]jf tyf hnljB't s]G› -kfj/ xfp;_ ;~rfng ;DjGwL ;]jf k|bfg u/L k|fKt x'g] yk cfo cfh{gaf6 sDkgLsf] bLuf] ljsf;df 6]jf k'Ug] 7flgPsf] 5 . xfn lrlnd] O{lGhlgol/ª P08 ;le{;]h sDkgLn] ;fGh]g hnljB't sDkgL cGtu{t lgdf{0fflwg b'O{ hnljB't cfof]hgfx¿sf] l8hfOg tyf lgdf{0f ;'kl/j]If0f ;fy} o; sDkgLn] cWoogsf nflu cufl8 a9fPsf b'O{ hnljB't cfof]hgfx¿sf] lj:t[t kl/of]hgf k|ltj]bg ;lxtsf] ;+efJotf cWoog nufotsf sfdx¿sf] k/fdz{ ;]jfsf nflu 7]Ssf ;+emf}tf u/L ;f] ;DaGwL sfdx¿ ul//x]sf] 5 . ;fy} pQm sDkgLn] :jb]zL k|fljlwsx¿nfO{ kl/rfng u/L k/fdz{ ;]jf k|bfg ubf{ ;Ifd :jb]zL k|fljlws hgzlQm pTkfbg x'g] / csf]{tkm{ :jb]zL d'›fsf] ;l~rltdf ;sf/fTds of]ubfg k'Ug] ljZjf; lnOPsf] 5 . o;af6 sDkgLsf] Jofkf/ ljljlws/0f -Business Diversification_ x'g] s'/fdf ljZj:t x'g ;lsg]5 .
cj d oxfFx¿nfO{ o; sDkgL cGtu{tsf hnljB't sDkgLx¿ dfkm{t lgdf{0fflwg cfof]hgfx¿sf] jt{dfg l:yltsf] jf/]df hfgsf/L u/fpg rfxG5' .
s= ;fGh]g tyf ;fGh]g -dflyNnf]_ hnljB't cfof]hgfM /;'jf lhNnfdf /x]sf] lrlnd] hnljB't s]G›sf]
dflyNnf] hnfwf/ If]qsf] sl/j ̂ ls=ld= df cjl:yt ;fGh]g vf]nf If]qdf sl/j ^)) ld6/sf] x]8 k|of]u u/]/ !$=* d]ufjf6 Ifdtfsf] ;fGh]g -dflyNnf]_ /
$@=% d]ufjf6 Ifdtfsf] ;fGh]g hnljB't cfof]hgf >[+vnfa4 -Cascade_ ?kdf lgdf{0f sfo{ e} /x]sf] Joxf]/f oxfFx¿nfO{ cjut g} 5 .
;fGh]g hnljB't sDkgL lnld6]8sf] clws[t k"FhL ?=# cj{ &% s/f]8 / hf/L k"FhL ?=# cj{ ^% s/f]8 /x]sf] 5 . oL cfof]hgfx?df nufgL tyf lgdf{0f sfo{df :yfgLo lgsfox?sf] ;d]t ;xefuLtf u/fO{Psf] 5 . ;fGh]g hnljB't sDkgLsf] z]o/ ;+/rgfdf lrlnd] hnljB't sDkgLsf] #(=#^ k|ltzt, g]=lj=k|f= sf] !)=#^ k|ltzt / tTsfnLg /;'jf lh=lj=;= tyf lhNnfsf !* j6} uf=lj=;= x? af6 hDdf !=@* k|ltzt z]o/ nufgL /x]sf] 5 . afFsL $( k|ltzt z]o/ dWo] @$ k|ltzt z]o/ sd{rf/L ;~ro sf]ifdf /sd hDdf ug]{ ;~rostf{, ;+:yfks z]o/wgL ;+:yfsf sd{rf/L tyf ;~ro sf]ifsf sd{rf/Lx¿nfO{ z]o/ lgisfzg tyf afF8kmfF8 ;d]t ;DkGg u/L /sd ;+sng ul/;lsPsf] 5 . ;fy} ;j{;fwf/0fsf] nflu 5'§ofPsf] !% k|ltzt, tyf :yfgLojf;Lx¿sf] nflu 5'§ofO{Psf] !) k|ltzt ;d]t u/L hDdf @% k|ltzt z]o/ lgisfzg tyf ljqmL k|s[of clGtd r/0fdf /x]sf] 5 . o; sDkgLn] pNn]lvt b'O{ cfof]hgf ljsf;sf] nflu ?=! cj{ $# s/f]8 ^^ nfv $% xhf/ nufgL u/]sf] 5 .n ;fGh]g hnljB't sDkgL cGtu{t lgdf{0fflwg oL
cfof]hgfx? dWo] ;fGh]g -dflyNnf]_ hnljB't cfof]hgfsf] l;len lgdf{0f sfo{ sl/j &# k|ltzt ;DkGg eO{ ;s]sf] 5 . o; cGtu{t Intake Structure, Bypass Canal, Desander, Forebay ;DkGg eO{ ;s]sf] / Flushing Canal tyf Peaking Pond sf] sfo{ clGtd r/0fdf /x]sf] 5 . d'Vo ;'¿ª vGg] sfo{ ;DkGg eO{ Final Rock Support sf sfdx? klg ;DkGg eO{ ;s]sf] 5 . ;f]xL cGtu{tsf] Rock Trap sf] vGg] sfd ;DkGg eO{ Final Concrete Lining sf] sfd ;DkGg x'g] r/0fdf /x]sf], ljB'tu[x lgdf{0f sfo{ z'? eO{;s]sf] 5 . k]g:6s ;'¿ªsf] Excavation sfd ;DkGg eO{ Penstock kfOkx? h8fg ug]{ sfo{ / xfO8«f]d]sflgsn sfo{ cGtu{t u]6x?sf] sfo{x¿ eO/x]sf] 5 .
n $@=% d]ufjf6 Ifdtfsf] ;fGh]g hnljB't cfof]hgfsf] l;len lgdf{0f sfo{ cGtu{t sl/j ^% k|ltzt ef}lts sfo{ k|ult /x]sf] 5 . o; cGtu{t #^$) ld= d'Vo ;'¿ª dWo] sl/j @^)) dL= vGg] sfo{ ;DkGg eO{;s]sf] 5 . O{G6]s, Balancing Pond,
16
lrlnd] hnljB't sDkgL lnld6]8
jflif{s k|ltj]bgcf= j= @)&$÷)&%
5'k5'ª vf]nfsf] jfFwsf] sfo{ em08} *) k|ltzt ;DkGg ePsf] tyf O{G6]s :nf]ksf] sfo{ ;DkGg u/L k|j]z ;'¿ª ljGb'af6 s/Lj !&) dL= leq ;Ddsf] sfo{ ;DkGg ePsf] 5 . ;h{6\ofªs vGg] sfo{ ;DkGg eO{ ;s]sf] tyf Inclined Penstock sf] dflyNnf] efudf Pilot hole vGg] sfo{ ;DkGg eO{ Enlargement sf nflu vGg] sfo{ klg eO{ /x]sf] / tNnf] k]g:6ssf] Pilot hole vGg] sfo{ xfn ;Dd s/Lj *) dL= ;DkGg eO{ ;s]sf] 5 . ;a} k/LIf0f ;'¿ª vGg] sfo{ ;DkGg eO{ ;s]sf] tyf ljB't–u[x sf] kmfp08];gsf sfo{ ;DkGg eO{ d]lzg kmfp08]zg / cGo ;+/rgfsf] sfo{ eO{ /x]sf] 5 . xfO8«f]d]sflgsn sfo{ cGtu{t ;fGh]g -dflyNnf]_ sf] ljB't–u[xaf6 tNnf]sf] Peaking Reservoir hf]8\g] kfOk tyf 5'k5'ª vf]nfsf] ;fOkmg kfOksf] sfd klg ;DkGg eO{ ;s]sf] 5 .
n O{n]S6«f]d]sflgsn sfo{ cGtu{t d'Vo d'Vo pks/0fx?sf] pTkfbg, ;'k/lehg tyf k/LIf0f nufotsf sfo{x¿ ;DkGg eO{ cfof]hgfdf cfk"lt{ ug]{ sfd eO{/x]sf] tyf xfn ljB't–u[xdf embedded part installation sf] sfo{ eO{/x]sf] 5 . ;du|df x]bf{ ;fGh]g -dflyNnf]_ sf] s/Lj &@ k|ltzt / ;fGh]gsf] s/Lj ^^ k|ltzt sfo{ k|ult /x]sf] 5 . b'a} cfof]hgfx? ;g\ @)!( sf] cGTo ;Dddf lgdf{0f ;DkGg ug]{ nIo /x]sf] 5 .
oL cfof]hgfx¿df :jb]zL hgzlQm kl/rfng u/L :jb]zL lgdf{0f Joj;foLx¿af6 lgdf{0fsf sfdx¿ eO/x]sf] Joxf]/f klg o; ul/dfdo ;efnfO{ cjut u/fpg rfxG5' . o;af6 :jb]zL sfdbf/nfO{ /f]huf/L ;[hgf ePsf] 5 . o; k|sf/sf 7"nf cfof]hgfx¿df sfd ug{ :j]bzL lgdf{0f Joj;foLx¿sf] xf};nf a9]sf] 5 eg] csf]{tkm{ ljb]zL d'›f ;l~rltdf of]ubfg k'u]sf] 5 .
v= dWo ef]6]sf]zL hnljB't cfof]hgfMdWo ef]6]sf]zL hnljB't sDkgL lnld6]8 cGtu{t l;Gw'kfNrf]s lhNnfdf ef]6]sf]zL gbLsf] kfgL k|of]u u/L !)@ d]=jf= Ifdtfsf] dWo ef]6]sf]zL hnljB't cfof]hgfsf] lgdf{0f e} /x]sf] 5 . o; sDkgLsf] clws[t k"FhL ?=^ cj{ @! s/f]8 / hf/L k"FhL ?= ̂ cj{ /x]sf] 5 . cfof]hgf nufgL tyf lgdf{0f sfo{df :yfgLo lgsfox?sf] ;d]t ;xefuLtf u/fO{Psf] 5 . dWo ef]6]sf]zL hnljB't sDkgLsf]
z]o/ ;+/rgf cg';f/ %! k|ltzt ;+:yfks z]o/ dWo] lrlnd] hnljB't sDkgLsf] #& k|ltzt, g]kfn ljB't k|flws/0fsf] !) k|ltzt / l;Gw'kfNrf]s lhNnfsf :yfgLo OGe]i6d]06 sDkgLx?sf] $ k|ltzt ;xefuLtf /x]sf] 5 . To;} u/L ;j{;fwf/0f ;d"xsf] $( k|ltzt z]o/ dWo] sd{rf/L ;~ro sf]ifdf /sd hDdf ug]{ ;~rostf{, ;+:yfks ;+:yf tyf C0fbftf ;+:yfsf sd{rf/Lx¿ ;d]tsf nflu 5'§ofO{Psf] @$ k|ltzt z]o/ lgisfzg e};s]sf] 5 . ;j{;fwf/0f ;d"xsf jfFsL @% k|ltzt z]o/ ljqmLsf nflu k|s[of cufl8 al9;s]sf] 5 . o; sDkgLn] pQm sDkgLdf ?=@ cj{ @@ s/f]8 nufgL u/]sf] 5 .
dWo ef]6]sf]zL hnljB't cfof]hgfsf d'Vo sfdx¿nfO{ tLg efudf ljefhg ul/Psf] 5 . l;len tyf xfO8«f]d]sflgsn sfo{ / O{n]S6«f]d]sflgsn sfo{ ljb]zL 7]s]bf/ sDkgLaf6 ;DkGg x'g] tyf 6«fG;ld;g nfOgsf] lgdf{0f sfo{ :jb]zL 7]s]bf/af6 cufl8 a9fOPsf] 5 . xfn cfof]hgfsf] x]8jS;{df vf]nf kmsf{pg] -River Diversion_, Slope Excavations tyf 8\ofdsf] hu vGg] nufotsf sfo{x¿ eO{/x]sf] 5 . To;} u/L &,!@$ dL= nfdf] d'Vo ;'¿ª dWo] xfn;Dd $,@)) dL= vlg;lsPsf] 5 . Horizontal Penstock tunnel excavation tyf Powerhouse slope and pit excavation ;DkGg eO{ kfj/xfp;df Concreting works z'¿ ePsf] 5 eg] O{n]S6«f]d]sflgsn pks/0fx¿ ;fO6df k'lu;s]sf] cj:yf 5 . o;} u/L 6«fG;ldzg nfOg lgdf{0fsf] nflu 7]Ssf ;+emf}tf eO{ sfo{ cufl8 a9L/x]sf] 5 . cfof]hgf lgdf{0f ;DkGg cjlw #) h'g @)!( /x]tfklg ljljw sf/0fj; s]xL ;dofjlw yk x'g] ;Defjgf /x]sf] 5 .
u= /;'jfu9L hnljB't cfof]hgfM/;'jfu9L xfO8«f]kfj/ sDkgL lnld6]8af6 g]kfn–lrgsf] l;dfgf /;'jfu9L gfsf glhs /x]sf] uf];fO{+ s'08 ufpFkflnsf j8f g+=@ / # ;fljssf] y'dg / l6d'/] uf=lj=;= sf] l;dfgfdf /x]sf] ef]6]sf]zL gbLsf] kfgL pkof]u u/L !!! d]=jf= Ifdtfsf] /;'jfu9L hnljB't cfof]hgfsf] lgdf{0f sfo{ e} /x]sf] 5 . o; sDkgLsf] clws[t k"FhL ?=& cj{ / hf/L k"FhL ?= ^ cj{ *$ s/f]8 @@ nfv /x]sf] 5 . o; sDkgLdf ;+:yfks z]o/ nufgL ;+/rgftkm{ lrlnd] hnljB't sDkgL lnld6]8sf] #@=&( k|ltzt, g]kfn ljB't k|flws/0fsf] !* k|ltzt / /;'jf lhNnfsf :yfgLo txsf] )=@! k|ltzt ;d]t u/L hDdf %! k|ltzt /x]sf] 5 . ;j{ ;fwf/0f ;d"xsf] nflu 5'§ofOPsf] $( k|ltzt z]o/
17
lrlnd] hnljB't sDkgL lnld6]8
jflif{s k|ltj]bgcf= j= @)&$÷)&%
dWo] sd{rf/L ;~ro sf]ifdf /sd hDdf ug]{ ;~rostf{, ;+:yfks z]o/wgL ;+:yf tyf ;~ro sf]ifsf sd{rf/Lx¿, C0fbftf ;+:yfsf sd{rf/Lx¿ ;d]tnfO{ u/L hDdf @$ k|ltzt z]o/ lgisfzg tyf afF8kmfF8 ;d]t ;DkGg u/L /sd ;+sng ul/;lsPsf] 5 . ;fy} ;j{;fwf/0f ;d"xsf] afFsL @% k|ltzt z]o/ dWo] ;j{;fwf/0fsf] nflu !% k|ltzt / /;'jf lhNnfsf :yfgLojfl;x¿sf] nflu !) k|ltzt 5'§ofOPsf] / xfn pQm z]o/ lgisfzg tyf ljqmL k|s[of cufl8 a9fO{Psf] 5 .
o; cfof]hgfsf] lgdf{0f sfo{nfO{ d'VotM tLg n6df ljefhg u/L lgdf{0f sfo{ cufl8 a9fOPsf] 5 .
n6 !M l;len tyf xfO8«f]d]sflgsn lgdf{0f sfo{sf 7]s]bf/n] clwsf+z ;+/rgfx?sf] lj:t[t l8hfOg ;DkGg u/L ;f] sf] k/fdz{bftfaf6 :jLs[t eO{ sfo{ cufl8 a9fO{Psf] 5 . cfof]hgfsf] x]8jS;{sf] lgdf{0fsf nflu c:yfoL afFw agfP/ River diversion u/L Undersluice ;+/rgfsf] 9nfg -concreting_ ug{] sfo{ sl/a *% k|ltzt ;DkGg ePsf], Intake sf] 9nfg sfo{ sl/a ^! k|ltzt ;DkGg ePsf] / Intake slope excavation tyf support sf] sfo{ ;DkGg eO;s]sf] 5 . x]8jS;{ If]qdf kg]{ ;a} ;'?Ësf] excavation tyf rock support sfo{ ;DkGg eO;s]sf], tLgj6} e"ldut l8:ofG8/sf] crown portion sf] excavation tyf rock support sf] sfo{ ;DkGg eO{ xfn d'Vo j]l;g la:t[lts/0f -Enlargement_ ug{] sfo{ eO/x]sf] 5 . o; cfof]hgfsf] hDdf $!*% ld= nfdf] x]8/]; ;'?Ësf] Breakthrough @) cui6 @)!* df ;DkGg eO{ xfn Invert Concreting tyf Final rock support sf] sfo{ eO/x]sf] 5 . To;}u/L e"dLut ljB't u[x hfg] d'Vo ;'?Ë, transformer cavern, valve Chamber, surge tank aeration tunnel nufotsf k|j]; ;'?Ësf] Excavation tyf rock support sf] sfo{ ;DkGg ePsf] 5 . Surge Tank df !=$ dL= Aof;sf] Pilot hole vGg] sfo{ ;DkGg eO{ To;nfO{ !^ dL= Jof;df la:t[lts/0f -Enlargement_ ug]{ tof/L eO/x]sf], Penstock Vertical Shaft / Penstock Horizontal Tunnel sf] excavation tyf rock support sf] sfo{ ;DkGg eO{ xfn tLgj6} Penstock trifurcation tunnel df :6Ln kfO{k h8fgsf] sfo{ eO/x]sf] 5 . To;}u/L e"ldut ljB't u[xsf] Excavation tyf rock support sf] sfo{ ;DkGg eO{ Foundation tyf Super Structure x?sf] concreting ug]{ sfo{ clGtd r/0fdf /x]sf] 5 . ;fy}
kfj/ xfp;df EOT Crane h8fg u/L ;~rfng eO/x]sf] / Transformer Cavern, Bus-Bar Tunnels nufotsf ;+r/gfx?sf] excavation tyf rock support sf] sfo{ ;DkGg eO{ cGo sfo{ eO/x]sf] 5 . 6]n/]; 6g]nsf] sl/a %)% dL= nDafO{df Excavation tyf rock support sfo{ ;DkGg eO;s]sf] / afFsL sl/a !%) dL= sf] efudf Excavation sfo{ cufl8 a9fO{Psf] 5 .
cfof]hgfsf] n6 @M On]S6«f]d]sflgsn sfo{sf 7]s]bf/n] On]S6«f]d]sflgsn sfo{sf] l8hfOg ;DkGg u/L xfn qmlds ?kdf kfj/xfp;sf] d]l;g÷pks/0fx?sf]] pTkfbg tyf cfk"lt{ u/L h8fg sfo{ klg z'? u/L;s]]sf] 5 .
To;}u/L cfof]hgfsf] n6 #M !#@ s]=eL= 8an ;ls{6 ljB't k|;f/0f nfO{g lgdf{0fsf] nflu 7]s]bf/n] cfof]hgfsf] la:t[t ;e]{ tyf l8hfOg ;DkGg u/L xfn 6fj/ kmfp08];g tof/ kfg{] sfo{ ul//x]sf] 5 .
o; cfof]hgfaf6 ljB't pTkfbg x'g] cg'dflgt ldlt @)&^ ;fn kmfNu'g & ut] -tbfg';f/ !( km/j/L, @)@)_ /x]sf] / xfn;Ddsf] ;dli6ut sfo{ k|ult s/La ^& k|ltzt /x]sf] 5 .
3= lrlnd] OlGhlgol/Ë P08 ;le{;]h sDkgL lnld6]8lrlnd] OlGhlgol/Ë P08 ;le{;]h s+= ln= sf] :yfkgf @)&#÷)^÷!! ut] ePsf] xf] . o; sDkgLsf] clws[t k"FhL ?= ^ s/f]8 / hf/L k"FhL ?= # s/f]8 /x]sf]df oxL ldlt @)&%÷)&÷!^ ut] ;DkGg sDkgLsf] bf];|f] jflif{s ;fwf/0f ;efaf6 hf/L k"FhL a[l¢ u/L ?= % s/f]8 () nfv sfod ul/Psf] 5 . o; sDkgLdf lrlnd] hnljB't sDkgL ln= sf] ztk|ltzt nufgL /x]sf] 5 . o; sDkgLsf] d'Vo p2]Zo ;du| OlGhlgol/Ë ;]jf pknAw u/fpg' /x]sf] 5 . xfn o; sDkgLn] ;fGh]g hnljB't sDkgL ln= cGtu{t lgdf{0fflwg hnljB't cfof]hgfx?sf] l8hfOg tyf ;'kl/j]If0f ;DaGwL sfdx? ul//x]sf] / lrlnd] hnljB't sDkgL cGtu{tsf a'9Lu08sL k|f]s hnljB't cfof]hgf -$@) d]ufjf6_ tyf ;]tLgbL–# hnljB't cfof]hgf -!^% d]ufjf6_ sf] ;+efJotf cWoogsf] nflu ;+emf}tf ;DkGg u/L cWoogsf sfdx? ul//x]sf] ;fy} cGo ljleGg sfo{sf] nflu kxn eO/x]sf] 5 . sDkgLn] pNn]lvt sfo{x?sf nflu cfjZostf cg';f/ hgzlQm Joj:yfkg tyf kl/rfng ul//x]sf] / ljleGg lsl;dsf cWoogx?nfO{ ;kmntfk"j{s ;DkGg ug{ cfjZostf
18
lrlnd] hnljB't sDkgL lnld6]8
jflif{s k|ltj]bgcf= j= @)&$÷)&%
cg';f/ pks/0fx?sf] vl/b k|s[of cufl8 a9fpg'sf ;fy} bIf hgzlQm dfk{mt u'0f:t/Lo O{lGhlgol/Ë ;]jf k|bfg ug]{ p2]Zosf ;fy cufl8 al9/x]sf] 5 .
$= rfn" cfly{s aif{sf] xfn;Ddsf] pknAwLMo; sDkgLn] rfn" cf=j= @)&%÷)&^ sf] sflt{s d;fGt;Ddsf] cjlwdf ^@ nfv &@ xhf/ clws o"lg6 ;lxt ^ s/f]8 #% nfv !@ xhf/ o"lg6 ljB't laqmL u/L ?= $& s/f]8 () nfv @^ xhf/ cfDbfgL x'g'sf] ;fy} Jofh cfDbfgL ¿= @ s/f]8 !$ nfv ;d]t u/L s'n hDdf ¿=%) s/f]8 $ nfv () xhf/ cfo cfh{g ug{ ;kmn ePsf] 5 . ;f] cjlwdf :jLs[t ah]6 tyf sfo{qmd cg';f/ ?=* s/f]8 @) nfv * xhf/ vr{ ePsf] Joxf]/f klg cjut u/fpg rfxG5' .
%= sDkgLsf] Joj;foLs ;DjGwMlrlnd] hnljB't sDkgLn] b]zdf hnljB'tsf] If]qdf Pp6f pbfx/0fLo klxrfg sfod /fVg ;kmn ePsf] ljZjf; lnOPsf] 5 . sDkgLsf] pRr ;kmntfn] o; sDkgL;+u k|ToIf jf ck|ToIf ?kdf ;+nUg /x]sf ;a}nfO{ uf}/jflGjt t'NofPsf] 5 . ljB't vl/b ug]{ g]kfn ljB't k|flws/0f / cfof]hgf lgdf{0fdf laQLo ;xof]u k|bfg ug]{ a}+s tyf ljQLo ;+:yfx? d'Vo ?kdf sd{rf/L ;~rosf]if, gful/s nufgL sf]if, lxdfnog a}+s lnld6]8 tyf nIdL a}+s lnld6]8 nufot cGo afl0fHo a}+sx¿ ;b}j wGojfbsf kfqx¿ /x]sf 5g\ . ;fy} sDkgL /lhi6«f/sf] sfof{no, g]kfn lwtf]kq af]8{, g]kfn :6s PS:r]~h ln=, gful/s nufgL sf]if, ljleGg Soflk6n dfs]{6\; tyf afl0fHo a}+sx? nufotsf ;a} ljlQo ;+:yfx¿;+u o; sDkgLsf] ;'dw'/ ;DaGw /x]sf] 5 . o; lsl;dsf ;+:yfx?;+usf] Aoj;foLs ;DjGwn] sDkgLn] yk ;kmntf xfl;n ug{ ;Sg] ljZjf; ;lxt eljiodf klg o; k|sf/sf] ;DjGwnfO{ cem} ;jn / ;Ifd agfpg sDkgL ;b}j k|of;/t /xg]5 .
^= ;xfos sDkgLx¿ dfkm{t lgdf{0fflwg hnljB't cfof]hgfx¿sf] ljQLo Aoj:yfkg ;DaGwdfMsDkgLsf] ljlQo tyf Joj:yfksLo cj:yf / Aoj;foLs ;DjGw ljZj;lgo /x]sf]n] g} sDkgLn] k|a4{wg u/]sf sDkgLx¿ dfkm{t @&)=# d]ufjf6 Ifdtfsf hnljB't cfof]hgfx¿ lgdf{0fsf nflu cfjZos C0f nufgL ug]{ ;DjGwdf @)^* ;fn d+l;/ @@ ut] sd{rf/L ;~ro
sf]if, lrlnd] hnljB't sDkgL ln= / ;DjlGwt sDkgLx? -/;'jfu9L xfO{8«f]kfj/ sDkgL, dWo ef]6]sf]zL hnljB't sDkgL / ;fGh]g hnljB't sDkgL_ aLr lqkIfLo C0f ;Demf}tf eO{ ljlQo Joj:yfkg x'Fb} cfPsf] 5 . :jMk"FhL / C0fsf] cg'kft %)M%) /xg] u/L /;'jfu9L hnljB't cfof]hgfsf] nflu ?=^ cj{ *$ s/f]8 @! nfv, dWo ef]6]sf]zL hnljB't cfof]hgfsf] nflu ?=^ cj{ !$ s/f]8 !^ nfv, ;fGh]g -dflyNnf]_ / ;fGh]g hnljB't cfof]hgfsf] nflu ?=# cj{ ^@ s/f]8 !^ nfv u/L hDdf !^ cj{ ^) s/f]8 %# nfv shf{ k|jfx ug] sf]if;Fu ;Demf}tf ePsf] Joxf]/f cjut g} 5 . o;sf nflu g]kfn ljB't k|flws/0f / lrlnd] hnljB't sDkgL lnld6]8af6 ;+:yfut hdfgt lbOg'sf ;fy} o; sDkgLsf] :jfldTjdf /x]sf] ;Dk"0f{ hfoh]yf sd{rf/L ;~ro sf]ifsf gfddf ;DalGwt dfnkf]t sfof{nodf b[li6 jGws /lhi6«]zg kf; ul/Psf] 5 .
&= ;~rfns ;ldltMo; sDkgLdf ;+:yfks z]o/wgL >L g]kfn ljB't k|flws/0fsf] tkm{af6 % hgf tyf ;j{;fwf/0f ;d"xaf6 $ hgf u/L hDdf ( hgf ;~rfnsx¿n] k|ltlglwTj ul//xg' ePsf] 5 . g]=lj=k|f= sf] tkm{af6 o; sDkgLsf] ;~rfns ;ldltdf k|ltlglwTj ug]{ ;~rfnsx¿ g]=lj=k|f= sf sd{rf/L x'g] ePsf]n] lghx¿ ;]jf lgj[t x'Fbf ;~rfns k|ltlglwsf] kl/jt{g x'g] u/]sf] 5 . xfn;Dd :jtGq ;~rfnssf] Joj:yf ul/Psf] 5}g . sDkgL P]gsf] Joj:Yff adf]lhd b'O{ hgf :jtGq ;~rfns lgo'QmL eP kZrft dfq ;~rfns ;ldltn] k"0f{tf kfpg] 5 . afFsL ;j{;fwf/0f ;d"xaf6 $( k|ltzt z]o/sf] k|ltlglwTj x'g] Joj:yf 5 . ;dLIff cjlwdf ;~rfns ;ldltsf] a}7s !) k6s a;]sf] lyof] . xfnsf] ;~rfns ;ldltsf] ljj/0f tflnsf $ df /x]sf] 5 .
*= n]vfk/LIf0f k|ltj]bg pk/ ;~rfns ;ldltsf] k|ltlqmofMcf=j= @)&$÷)&% df o; sDkgL cGtu{tsf ;xfos sDkgLx¿n] n]vfk/LIf0f u/fO{ pknAw u/fPsf ljlQo ljj/0fx¿nfO{ cfwf/ lnO{ o; sDkgLsf] n]vfk/LIf0f ePsf ljlQo ljj/0fx¿ ;d]t Plss[t -Consolidated_ u/L tof/ ul/Psf ;+o'Qm ljlQo ljj/0fx¿ -Consolidated Financial Statements_ oxfFx¿nfO{ pknAw ePsf] k|ltj]bgdf ;dfj]z ul/Psf] 5 . ;fy} sDkgLsf] dfq
19
lrlnd] hnljB't sDkgL lnld6]8
jflif{s k|ltj]bgcf= j= @)&$÷)&%
ljlQo ljj/0fx¿ klg ;f]xL jflif{s k|ltj]bgdf ;dfj]z ul/Psf] 5 . o; sDkgLsf ;xfos sDkgLx¿sf] ljlQo ljj/0fx¿ Plss[t ubf{ g]kfn ljlQo k|ltj]bg dfkb08 -Nepal Financial Reporting Standards-NFRS_ tyf ;f] n] g;d]6]sf] xsdf cGt/fl{\i6«o ljlQo k|ltj]bg dfkb08 -International Financial Reporting Standards-IFRS_ n] lgb[i6 u/] cg'¿k ul/Psf] 5 .
(= sDkgLsf] s]Gb|Lo sfof{no ejg lgdf{0fMlrlnd] hnljB't sDkgL ln= n] sf7df8f}+ dxfgu/kflnsf j8f g+=–$, w'Daf/fxL, sf7df8f} l:yt cfˆg} gfddf /x]sf] @&#)=&^ ju{ ld6/sf] hUufdf lrlnd] 6fj/ lgdf{0f ug]{ of]hgf cg';f/ xfn cfjZos l8hfOg tyf gSzf ;DaGwL sfo{x¿ k'/f u/L cfjZos :jLs[ltsf nflu sf7df8f}+ dxfgu/kflnsfdf k]z ul/;s]sf] 5 . pQm k]z u/]sf] ;Dk"0f{ l8hfOg tyf gSzfx¿ sf7df8f}+ dxfgu/kfnLsfsf] cflwsfl/s lgsfoaf6 ;d]t :jLs[lt eO{ ;DalGwt j8f sfof{nodf a'emfOPsf] 5 . k|:tfljt ejg hDdf ()#&=#^ ju{ ld6/ Floor Area sf] sl/j *$%=!^ ju{ dL If]qkmndf lgdf{0f x'g]5 .
k|f/lDes jftfj/0f -IEE_ cWoog ;DaGwdf zx/L ljsf; tyf k'glg{df0f dGqfnoaf6 Term of Reference -ToR_ :jLs[t e};s]sf] 5 . ;fy} ToR cg';f/ jftfj/0fLo k|efj d"NofÍgsf] k|s[of clGtd r/0fdf /x]sf] 5 . lgdf{0f Aoj;foLx¿sf] 5gf}6sf] xsdf k'j{of]Uotf d"Nofªsgaf6 5gf}6 ePsf $ j6f lgdf{0f Joj;foL sDkgL dWo]af6 k]z x'g cfPsf jf]nkq ;DaGwL sfuhfx¿ d"Nofªsg
u/L of]Uo sDkgL 5gf}6sf] k|s[of clGtd r/0fdf k'u]sf] 5 . o; sfo{nfO{ rf8} ;DkGg u/L ejg lgdf{0f sfo{ cufl8 a9fOg] 5 .
!)= ;+:yfut ;fdflhs pQ/bfloTjMo; sDkgLn] ;fdflhs pQ/bfloTj cGtu{t ljz]if u/]/ ljB't–u[x jl/k/Lsf k|ToIf jf ck|ToIf ?kdf k|efljt If]qx?df ljB't, vfg]kfgL, lzIff, :jf:Yo, /f]huf/L, l;+rfO{, af6f]3f6f] h:tf sfo{x?df jflif{s ?kdf /sd 5'6\ofO{ pNn]Vo ;xof]u k'¥ofpFb} cfPsf] 5 . ;fy} ;/f]sf/ ;ldlt dfkm{t k|efljt If]qdf vr{ ug]{ u/L af:s]6 km08 :j?k jflif{s ?=@% nfv yk pknAw u/fpFb} klg cfPsf] 5 .
sDkgLsf] ;+:yfut ;fdflhs pQ/bfloTjsf] lg/Gt/tf :j?k k|To]s jif{h:t} rfn" cf=j= @)&%÷)&^ df klg ;fd'bflos ljsf; / af:s]6 km08 ;lxt ah]6 Aoj:yf ul/Psf] 5 . ;Dk"0f{ /sd sDkgLn] nufgL u/L /;'jf lhNnfsf hgtfsf] :jf:Yo pkrf/nfO{ k|efjsf/L jgfO{ plrt ;dodf g} c:ktfn k'uL pkrf/ u/fpg d2t k'Ug] u/L 6f]of]6f sDkgLsf] Ps yfg PDj'n]G; pknAw u/fOPsf] 5 . :yfgLo :t/df pknAw x'g ;Sg] hgzlQm klxrfg u/L ljleGg /f]huf/Lsf cj;/x¿ v'Nnf ul/b} cfOPsf] 5 . :yfgLo :t/df /x]sf lgdf{0f Joj;foLx¿n] klg ljleGg lsl;dsf sfdx¿ ub}{ cfO/x]sf] cj:yf 5 xfnsf] cfdf5f]lbªdf] ufpFkflnsf uf]Nh'ª lkm8/ /f]8sf] :t/f]Ggltsf nflu cf=j= @)&$÷)&% df ¿= $^ nfv &) xhf/ cfly{s ;xof]u ;d]t u/]sf] / o;af6 slDtdf #% 3/kl/jf/ k|ToIf nfeflGjt ePsf 5g\ .
tflnsf $M ;~rfns ;ldlt
;+rfnssf] gfd kb k|ltlglwTj ug]{;+:yf / ;d'x b]lv ;Dd
>L s'ndfg l3l;ª cWoIf k|ltlglw, ;+:yfks ;d"x -g]=lj=k|f=_ @)&#÷)^÷)$ xfn;Dd
>L n]vgfy sf]O/fnf ;~rfns k|ltlglw, ;+:yfks ;d"x -g]=lj=k|f=_ @)&!÷)$÷)% xfn;Dd
>L zflGt nIdL zfSo ;~rfns k|ltlglw, ;+:yfks ;d"x -g]=lj=k|f=_ @)&#÷)%÷!@ xfn;Dd
>L x//fh Gof}kfg] ;~rfns k|ltlglw, ;+:yfks ;d"x -g]=lj=k|f=_ @)&#÷)&÷!@ xfn;Dd
>L dgf]h l;njfn ;~rfns k|ltlglw, ;+:yfks ;d"x -g]=lj=k|f=_ @)&$÷)#÷#! xfn;Dd
>L t'n;L/fd 9sfn ;~rfns k|ltlglw, ;j{;fwf/0f ;d"x @)&@÷)@÷#) xfn;Dd
>L /fdk|;fb l/dfn ;~rfns k|ltlglw, ;j{;fwf/0f ;d"x @)&@÷)@÷#) xfn;Dd
>L led k|;fb ltdlN;gf ;~rfns k|ltlglw, ;j{;fwf/0f ;d"x @)&@÷!)÷!% xfn;Dd
>L k;f{bf] tdfª ;~rfns k|ltlglw, ;j{;fwf/0f ;d"x @)&@÷!)÷!% xfn;Dd
20
lrlnd] hnljB't sDkgL lnld6]8
jflif{s k|ltj]bgcf= j= @)&$÷)&%
!!= laut jif{df z]o/wgL dxfg'efjx¿n] p7fPsf ljifox¿Mljut aif{df z]o/wgL dxfg'efjx?n] lbg' ePsf ;'emfjx? pk/ sDkgLsf] cjwf/0ff lgDg cg';f/ /x]sf 5g\!= aflif{s ;fwf/0f ;ef / k|ltkmnMz]o/wgLnfO{ plrt k|ltkmn lbg] ;DjGwdf o; sDkgLn] ljz]if Wofg lbPsf] / cfufdL lbgx¿df ;d]t z]o/wgLsf] rfxgfnfO{ Wofgdf /fv]/ sfo{ cufl8 a9fOg] 5 .
@= gofF cfof]hgf ;DjGwdfMo; sDkgLsf] cu'jfO{df :yfkgf ePsf hnljB't sDkgLx¿ dfkm{t lgdf{0fflwg hnljB't cfof]hgfx¿ tf]lsPsf] nfut, ;do / u'0f:t/df ;DkGg ug{ ;j} If]qaf6 k|of; eO/x]sf] 5 . ;fy} pQm cfof]hgfx¿sf] lgdf{0f sfo{sf] cj:yfnfO{ x]/L yk hnljB't cfof]hgfx¿sf] klxrfg u/L ljsf; ul/g] of]hgf cg'¿k xfn tLgj6f gofF hnljB't cfof]hgfx¿sf] cWoog cufl8 a9fOPsf] 5 . k/fdz{bftfaf6 k|ltj]bg k|fKt ePkl5 pko'Qm cfof]hgfx¿sf] lgdf{0fsf nflu k|s[of cufl8 a9fO{g] Joxf]/f cjut uf/fpg rfxG5' .
#= Aoj;fo ljljlws/0fMo; sDkgLsf] cfDbflgsf] d"Vo >f]t eg]sf] xfn ljB't ljqmL dfq /x]sf]df b]zleq ljleGg sfdsf cj;/x¿ b]lvPsf]n] lrlnd] Ol~hlgol/ª P08 ;le{;]h sDkgL :yfkgf ul/Psf] 5 . o; sDkgLsf] p2]Zo ljleGg lsl;dsf k|fljlws ;]jfx¿ lbO{ cfo cfh{g ug]{ /x]sf] 5 .
$= cGo ;DjGwdfMljutsf jif{x¿df jflif{s k|ltj]bg 5kfO{ nufotdf ;fdfGo dfgjLo q'l6x¿nfO{ ;se/ Go'gLs/0f ug]{ k|of; ul/Psf] 5 . ;fy} d~r Joj:yfkgnfO{ cfslif{t jgfpg ;'emfj eP cg';f/ ;'wf/sf nflu sf]lzz ul/Psf] 5 . sDkgLn] u/]sf sfo{x¿ tyf cGo z]o/wgLsf ;/f]sf/sf ljifox¿nfO{ g5f]l8sg o; jflif{s k|ltj]bgdf ;d]6\g] k|of; ul/Psf] 5 . jflif{s k|ltj]bg ;a} z]o/ wgLx?sf] ;lhn} kx'Fr xf];\ egL sDkgLsf] Website df /flvg'sf ;fy} z]o/ /lhi6«f/sf] sfof{noaf6 klg pknAw u/fpg] Joj:yf ldnfOPsf] 5 .
!@= d"Vo sDkgL / ;xfos sDkgL aLrsf] sf/f]jf/M o; sDkgLsf] d"Vo ;+:yfks g]kfn ljB't k|flws/0f;Fu ljB't vl/b–ljqmL ;Demf}tf cg';f/sf] sf/f]jf/, 3/hUuf ef8f, / sd{rf/L ;fk6L ;DjGwL sf/f]jf/ x'g] u/]sf] 5 . To;} u/L o; sDkgLsf] ;xfos sDkgL ;fGh]g hnljB't sDkgL ln= n] ;fGh]g hnljB't cfof]hgfsf] ljB'tu[x If]qdf o; sDkgLsf] :jfldTjdf /x]sf] !! /f]kgL hUuf #) aif{nfO{ lnhdf lnP jfkt pQm sDkgLn] lnh ef8f e'QmfgL ub}{ cfPsf] 5 eg] /;'ufu9L xfO{8«f]kfj/ sDkgL ln= n] klg o; sDkgL cGtu{tsf] lrlnd] kfj/ KnfG6df sfo{/t sd{rf/Lsf] cfjf; If]qdf /x]sf] lk|ˆofa ejg ef8fdf lnO{ ef8f e'QmfgL ub}{ cfPsf] 5 . lrlnd] Ol{Ghlgol/ª P08 ;le{;]h sDkgL ln= ;+u sDkgLn] cWoogsf nflu cufl8 a9fPsf $@) d]ufjf6 Ifdtfsf] a'9Lu08sL k|f]s hnljB't cfof]hgf / !^% d]ufjf6 Ifdtfsf] ;]tLgbL–# hnljB't cfof]hgfsf] DPR ;lxtsf] ;+efJotf cWoogsf nflu 7]Ssf ;+emf}tf eP adf]lhd k/fdz{ ;]jf jfktsf] /sd sfo{ k|ultsf cfwf/df e'QmfgL ub}{ cfPsf] 5 .
!#= lrlnd] hnljB't s]Gb|Mo; lrlnd] hnljB't sDkgL cGtu{t ;~rflnt lrlnd] hnljB't s]G›n] @)^) ef› * b]lv Joj;foLs ljB't pTkfbg z'¿ u/]sf] / xfn;Dd klg k"0f{ Ifdtfdf ;~rfng eO/x]sf] 5 . ef}uf]lns kl/j]z cg';f/sf] l8hfOg, cGt/f{li6«o :t/sf pks/0f tyf dha't l;len ;+/rgfsf sf/0f o; s]G›n] ;~rfngsf] !%cf}+ jif{ ;Dd klg lgoldt ?kdf ck]Iffs[t ¿kdf ljB't pTkfbg ub}{ cfO/x]sf] Joxf]/f cjut u/fpg rfxG5' . kf6k'hf{x¿sf] cefjdf x'g ;Sg] pTkfbg gf]S;fg -Generation Loss_ nfO{ dWogh/ u/L 7f]; of]hgfsf ;fy s]G›nfO{ cfjZos kg]{ k"hf{x? pks/0fsf pTkfbs sDkgL;Fu vl/b u/L hu]8fdf /fVg] ul/Psf] 5 . s]G›df hl8t Governing System, Excitation System, SCADA System Pj+ Protection System nufotsf k|0ffnLx¿df cfPsf] k|ljlw kl/jt{gnfO{ ;+jf]wg x'g] u/L cBfjlws /fVg pNn]lvt k|0fflnx¿sf] ;'b[l9s/0f -Rehabilitation_ ug{ cfjZos b]lvPsf]n] cGt/f{li6«o :t/df af]nkq cfJxfg ul/ xfn k|fKt jf]nkqbftfx¿sf] af]nkq d"NofÍg ug]{ sfo{ eO{ /x]sf] 5 .
21
lrlnd] hnljB't sDkgL lnld6]8
jflif{s k|ltj]bgcf= j= @)&$÷)&%
!$= cfGtl/s lgoGq0f k|0ffnLMcfGtl/s lgoGq0f k|0ffnL k|efasf/L agfpg ;DjlGwt P]g, lgod tyf ljlgodfjnLx¿ kl/kfngf ul/Psf] 5 eg] sDkgL ;~rfns ;ldltsf] :jLs[ltdf ljleGg ljlgodfjnL tyf sfo{ljlw th{'df u/L nfu" ul/Psf] 5 . sDkgLn] cfˆg} cfly{s k|zf;g ljlgodfjnL tof/ u/L ljleGg cfly{s clwsf/ tyf l;dfx? tf]lsPsf] 5 . cfGtl/s n]vfk|0ffnL ;an agfO{ /fVg sDkgL P]g, @)^# sf] bkmf !^$ sf] clwgdf /xL ;~rfns ;ldltsf ;b:ox? /x]sf] n]vfk/LIf0f ;ldlt u7g u/L ;f]xL ;ldltsf] lgb]{zg Pj+ cg'udgdf sDkgLsf] n]vf ;~rfng x'Fb} cfPsf] / cfGtl/s n]vfk/LIf0fsf] ;d]t Aoj:yf /x]sf] Aoxf]/f cjut u/fpg rfxG5' . ;fy} sDkgLn] ISO 9001:2008 (QMS) / ISO14001:2004 (EMS) nfu" ul/ o;sf] lgoldt ¿kdf cfGtl/s tyf jfx\o k/LIf0f -cl86_ klg u/fpFb} cfPsf]5 .
!%= sd{rf/L Joj:yfkgMo; sDkgLsf] sd{rf/L Joj:yfkgnfO{ k|efjsf/L jgfpg] p2]Zo cg';f/ sd{rf/L ;]jf zt{ ljlgodfjnL, @)&! :jLs[t u/L nfu" ul/Psf] 5 . ;f]xL ljlgodfjnLsf] clwgdf /xL :jLs[t b/jGbL tyf ;+u7g tflnsf cg';f/ sd{rf/Lx?sf] egf{, 5gf}6, kb:yfkgf, j[lQ ljsf;, cjsf; nufotsf sfdx? ul/b} cfPsf] 5 . sd{rf/Lx?sf] j[lQ ljsf; tyf Ifdtf clea[l4sf nflu ljleGg tflndx?sf] cj;/ lbg] ul/Psf] 5 . sd{rf/Lx?df lhDd]jf/L / hjfkmb]xLtf clea[lå ug{ sfo{ ljj/0f pknAw u/fOPsf] 5 .
sDkgLsf] :jLs[t ljlgodfjnL tyf k|rlnt >d P]gsf] clwgdf /xL pkbfg, labf, cf}iflw pkrf/, aLdfsf] Joj:yf ul/Psf] 5 . sd{rf/Lx?sf] tna nufotsf ;]jf ;'ljwf tf]Sg] ;Dk"0f{ clwsf/ ;~rfns ;ldltdf lglxt /x]sf] 5 .
cf=j= @)&$÷)&% df clws[t :t/df k|fljlws tkm{ !^, k|zf;g tkm{ ^ ;d]t @@ hgf / ;xfos :t/df k|zf;g tkm{ $^ / k|fljlwstkm{ @& ;d]t &# hgf u/L s'n (% hgf sd{rf/L sfo{/t /x]sf lyP . h; cGtu{t sDkgLsf :yfoL sd{rf/L *(, g]kfn ljB't k|flws/0faf6 sfhdf vl6O{ cfPsf sfo{sf/L k|d'v ;lxt # / s/f/ ;]jfdf # hgf /x]sf lyP . sDkgLaf6 clws[t :t/df @# hgf / ;xfos :t/df % hgf sd{rf/L 5gf}6 tyf egf{sf] nflu lnOPsf] lnlvt k/LIffsf] glthf k|sfzg k|s[ofdf
/x]sf] 5 . sd{rf/Lx¿nfO{ cfjZostf cg';f/ sfo{sf/L k|d'vn] ljleGg sfo{If]qdf v6fpg] Joj:yf 5 .
!^= cfly{s jif{ @)&$÷)&% sf] s"n Aoj:yfkg vr{sf] laj/0fMsDkgLsf] s]G›Lo sfof{no ;~rfngdf x'g] x|f; vr{ jfx]ssf] vr{nfO{ Joj:yfkg vr{ dflgPsf] 5 . cf=j= @)&$÷)&% df sd{rf/L jf]g; ;d]t sDkgLsf] Joj:yfkg vr{ ?= & s/f]8 && nfv *& xhf/ /x]sf] 5 . Knf06 ;~rfngsf nflu k|zf;lgs Pj+ ;~rfng ;+ef/ vr{ cGtu{t ?=!@ s/f]8 %# nfv #$ xhf/ dfq vr{ ePsf] 5 .
!&= n]vfk/LIf0f ;ldltMsDkgL P]g, @)^# sf] bkmf !^$ df ePsf] Aoj:yf cg';f/ sDkgLsf] ;~rfns ;ldltn] lgDgfg';f/sf] Ps n]vfk/LIf0f ;ldlt u7g u/]sf] 5 M;~rfns, >L n]vgfy sf]O/fnf ;~of]hs ;~rfns, >L x//fh Gof}kfg] ;b:o;~rfns >L t'n;L/fd 9sfn ;b:o
cf=j= @)&$÷)&% df n]vfk/LIf0f k|ltj]bg, cfjlws cfly{s k|ltj]bg tyf cGo cfly{s Aoj:yfkgsf ljifox?df 5nkmn ug{sf nflu n]vfk/LIf0f ;ldltsf] !% k6s a}7s a;]sf] lyof] . n]vfk/LIf0f ;ldltsf] a}7sdf pkl:yt ;~rfnsx?nfO{ k|lt a}7s eQf afkt ?=#,)))÷– lbg] Joj:yf /x]sf] 5 .
!*= ;~rfns tyf pRr kb:y kbflwsf/Lx¿sf] kfl/>ldsMo; cf=j= @)&$÷)&% df sDkgLsf kbflwsf/Lx?sf] ;~rfns ;ldltsf] k|lt a}7s k|lt AolQm eQf ?= &,)))÷–, ;~rfns /x]sf] ;ldlt÷pk–;ldltsf] a}7s eQf k|lt AolQm k|lt a}7s ?=#,)))÷–, ;~rfnsx?nfO{ ;~rf/ tyf oftfoft ;'ljwf jfkt k|lt AolQm dfl;s ?=%,)))÷–, k|d'v sfo{sf/L clws[tsf] dfl;s tna, eQf tyf ;'ljwf ?= !,%*,&^@ / -cGo pk–;ldlt -;~rfns afx]s cGo kbflwsf/Lx? ;+nUg_ k|lt AolQm k|lt a}7s ?=@,)))÷– / sDkgLsf ;~rfnsx?nfO{ sDkgLsf k|d'v sfo{sf/L clws[t ;/x b}lgs tyf e|d0f eQf lbg] Aoj:yf /x]sf] 5 . pNn]lvt ;'ljwfx¿ ljut &÷* jif{b]lv ;dfg /x]sf] Joxf]/f klg cjut u/fpg rfxG5' .
22
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;DkGg e};s]sf] cfof]hgf, gofF cfof]hgf cWoog, lgdf{0f / ;~rfng ;DjGwL sfo{df ;xof]u / ;befj b]vfpFb} cfpg' ePsf lrlnd], /;'jfu9L, dWo ef]6]sf]zL tyf ;fGh]g cfof]hgf j/k/sf ;Dk"0f{ :yfgLo jfl;Gbfx? / :yfgLo txsf kbflwsf/Lx? Pj+ ;/f]sf/ ;ldltnfO{ klg wGojfb lbg rfxG5' . ;fy} k|ToIf jf k/f]If?kdf ;xof]u ug{' x'g] kqsf/ ldqx?nfO{ klg wGojfb lbg rfxG5' .
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g]kfn lwtf]kq af]8{, sDkgL /lhi6«f/sf] sfof{no, g]kfn :6s PS:r]Gh ln= nfO{ lg/Gt/ ;xof]u / ;befjsf] nflu wGojfb lbg rfxG5' . ;fy} >L l;4fy{ Soflk6n ln=nfO{ sDkgLsf] z]o/ /lhi6«f/ ;]jf k|bfg u/]sf] / o; ;fwf/0f ;efsf] k|jGw ;d]t u/]sf]df xflb{s wGojfb lbg rfxG5' . sDkgLsf] :yfkgf, lgdf{0f, ;~rfng / Aoj:yfkgdf cfˆgf cd"No of]ubfg k'¥ofpg' ePsf ;Dk"0f{ k"j{ ;~rfns, sfo{sf/L k|d'v tyf sd{rf/Lx?nfO{ klg wGojfb lbg rfxG5' .
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cGTodf, ;Dk'0f{ z]o/wgL dxfg'efjx¿nfO{ sDkgL / ;~rfns ;ldlt k|lt b]vfpg' ePsf] ;xof]u, ;b\efj / ljZjf;sf] ;fy} o; ul/dfdo ;efdf pkl:yt eO{ Jo:t sfo{tflnsf jfjh'b klg cfˆgf] cd"No ;do 5'6\ofO{ o; ;efnfO{ ;kmntf k"j{s ;DkGg ul/lbg' ePsf]df k'gM Ps k6s xflb{s s[t1tf tyf wGojfb 1fkg ug{ rfxG5' .
s'ndfg l3l;ª,cWoIf, ;~rfns ;ldlt
lrlnd] hnljB't sDkgL lnld6]8 .ldltM @)&%÷)*÷@^
23
lrlnd] hnljB't sDkgL lnld6]8
jflif{s k|ltj]bgcf= j= @)&$÷)&%
24
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jflif{s k|ltj]bgcf= j= @)&$÷)&%
25
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
Financial Statements as per
Nepal Financial Reporting Standards
(NFRS)for Fiscal Year 2074/2075 (2017/2018)
Chillime Jalavidhyut Co. Ltd. (Group)
26
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
27
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
28
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
Consolidated Statement of Financial Position (Group)As at 32 Ashad 2075 (16 July 2018)
NRs.
PARTICULARS NOTES32.03.2075
(16.07.2018)
31.03.2074 (15.07.2017)
Restated
01.04.2073 (16.07.2016)
Restated
Assets
Non Current Assets
Property, Plant and Equipment
Property, Plant and Equipment 1.2 1,896,446,886 1,928,028,927 1,986,869,718
Construction Assets - Subsidiaries 1.2.1 691,991,211 553,904,666 562,833,576
Capital Work in Progress 1.1.5 14,186,870,904 9,492,578,585 5,288,486,527
16,775,309,001 11,974,512,178 7,838,189,821Current Assets
Inventory 3 166,793,953 178,488,076 182,322,671
Prepayments 4 3,271,216 4,401,980 4,052,862
Advances, Deposits and Other Receivables 5.1.1 2,700,286,091 3,235,949,356 3,390,232,700
Trade Receivables 5.1.2 136,108,204 122,548,900 138,622,649
Investment in Term Deposits 5.1.3 1,971,044,120 380,139,080 400,000,000
Cash and Cash Equivalents 5.1.4 1,047,597,521 781,819,587 931,520,215
6,025,101,105 4,703,346,979 5,046,751,097
Total Assets 22,800,410,107 16,677,859,157 12,884,940,918
Equity and LiabilitiesEquity
Share Capital 6 3,965,113,152 3,447,924,480 3,134,476,800
Retained Earnings 7 4,754,825,995 4,671,013,672 4,436,732,958
Total 8,719,939,147 8,118,938,152 7,571,209,758
Non Controlling Interest 7.1 4,867,391,504 2,344,630,857 2,221,195,938
Non Current Liabilities
Defined Benefit Obligation 8.2.3 56,614,285 53,955,670 49,837,590
Other Current Liabilities
Deferred Tax Liabilities 9.2.1 122,891,122 122,277,192 123,041,763
Long Term Loans 20.1.2 8,447,210,799 5,594,683,439 2,570,390,271
Total 8,626,716,206 5,770,916,301 2,743,269,624
Current Liabilities
Provisions 10 56,836,063 52,845,709 136,189,087
Trade and Other Payables 5.2.1 529,527,187 390,528,138 213,076,512
Total 586,363,250 443,373,847 349,265,599
Total Equity and Liabilities 22,800,410,107 16,677,859,157 12,884,940,918
Date: 2075/08/26 Place: Dhumbarahi-4, Kathmandu
___________________ Hara Raj Neupane
Member
________________ Manoj Silwal
Member
_______________________ Narayan Prasad Acharya
Chief Finance Officer
___________________ Shanti Laxmi Shakya
Member
___________________ Lekhanath Koirala
Member
___________________ Tulasi Ram Dhakal
Member
__________________ Ram Prasad Rimal
Member
_______________________ Madhav Prasad Koirala Chief Executive Officer
___________________ Kul Man Ghising
Chairman
______________________ Bhim Prasad Timalsina
Member
____________________ Parsado Tamang
Member
As per our report of even date Board of Directors
___________________ Pratap P. Pradhan
PrincipalPP Pradhan & Co.
Chartered Accountants
29
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
Consolidated Statement of Profit or Loss and Other Comprehensive IncomeFor the year ended 32 Ashadh 2075 (16 July 2018)
NRs.
PARTICULARS NOTESFY2074/075
(2017/18)
2073/074 (2016/17)Restated
Income
Revenue from Sale of Electricity 11 1,138,432,864 1,196,889,744
Expenses
Hydel Plant Operating Expenses 12 (151,650,338) (134,080,795)
Administrative Expenses 13 (177,441,111) (172,202,204)
Depreciation 1 (76,301,165) (81,065,461)
Operating Profit/ (Loss) 733,040,249 809,541,284
Finance Income 14 141,503,724 61,555,153
Other Income 15 57,756,603 (4,955,145)
Assets written off - (1,858,312)
Profit / (Loss) before Tax and Bonus 932,300,576 864,282,980
Employee Bonus 8 (19,160,064) (18,889,842)
Profit/ (Loss) before Tax 913,140,512 845,393,138
Less: Tax 9
Current Tax (18,814,163) (10,898,992)
Prior Period Tax (FY 2060/61 and FY 2061/62) (12,950,121) -
Deferred Tax Income (Expense) 710,616 1,538,828
Net Profit/ (Loss) For the Year including Non-controlling Interest 882,086,844 836,032,974
Net Profit/ (Loss) For the Year attributable to Non-controlling Interest (13,574,809) (26,836,044)
Net Profit/ (Loss) For the Year attributable to CJCL 895,661,653 862,869,018
Earnings Per Share
Basic 16 22.25 27.09
Diluted 16 N/A 21.08
Other Comprehensive Income
Actuarial Gain (Loss) on re-measurements of defined benefit plans 8 6,622,726 3,871,280
Income tax relating to items that will not be reclassified 9 (1,324,545) (774,256)
Other Comprehensive Income for the Year 5,298,181 3,097,024
Total Profit / (Loss) & Other Comprehensive Income 887,385,025 839,129,998
Date: 2075/08/26 Place: Dhumbarahi-4, Kathmandu
___________________ Hara Raj Neupane
Member
________________ Manoj Silwal
Member
_______________________ Narayan Prasad Acharya
Chief Finance Officer
___________________ Shanti Laxmi Shakya
Member
___________________ Lekhanath Koirala
Member
___________________ Tulasi Ram Dhakal
Member
__________________ Ram Prasad Rimal
Member
_______________________ Madhav Prasad Koirala Chief Executive Officer
___________________ Kul Man Ghising
Chairman
______________________ Bhim Prasad Timalsina
Member
____________________ Parsado Tamang
Member
As per our report of even date Board of Directors
___________________ Pratap P. Pradhan
PrincipalPP Pradhan & Co.
Chartered Accountants
30
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
Consolidated Statement of Cash FlowFor the year ended 32 Ashadh 2075 (16 July 2018)
NRs.
PARTICULARS FY2074/075
(2017/18)2073/074 (2016/17)
Cash Flow from Operating ActivitiesProfit before interest and tax 913,140,512 845,393,138AdjustmentsDepreciation 76,301,165 81,065,461Income from Investment and Bank Deposit (141,503,724) (61,555,153)Assets Written Off - 1,858,312Gain on Sale of Asset - (1,805,000)Stock Written Off - 1,335,933Employee Gratuity, Leave and Welfare Provisions 9,281,342 8,470,380Bad Debt - 19,933,200Employee Bonus in SoPL 19,160,064 18,889,842NFRS Adjustment (Subsidiary-Sanjen) (3,376,635) (544,197)Equity Transaction non-cash 48,210,245 (42,45,769)Interest Capitalization 1,782,930,799 703,603,439Movements in Working CapitalDecrease/(Increase) in Inventory 11,694,123 298,662(Increase)/Decrease in Prepayments 1,130,764 (349,118)(Increase)/Decrease in Advances, Deposits and Other Receivables 535,663,265 154,283,344(Increase)/Decrease in Trade Receivables (13,559,304) (3,859,452)(Increase)/Decrease in Term Investments (1,590,905,040) 19,860,920Increase/(Decrease) in Provisions (20,744,152) (89,868,365)Increase/(Decrease) in Current liabilities 138,999,048 177,451,626Employee Bonus Paid (18,889,842) (19,263,846)Gratuity and Leave paid - (481,020)Income Taxes Paid (7,300,000) (4,000,000)Total Adjustments 827,092,118 1,003,279,199Net Cash flow from Operating Activities (A) 1,740,232,630 1,848,672,337Cash Flow from Investing ActivitiesAcquisition of Property, Plant and Equipment (44,719,124) (24,082,982)Proceeds from sale of asset - 1,805,000Decrease/ (Increase) in Construction Assets - Subsidiaries (138,086,545) 8,928,910Decrease/ (Increase) in Capital Work in Progress (4,694,292,319) (4,204,092,058)Income from Investment and Bank Deposit 141,503,724 61,555,153 Net Cash Flow from Investing Activities (B) (4,735,594,264) (4,155,885,977)Cash Flow from Financing ActivitiesIncrease/ (Decrease) in Non Controlling Interest 2,536,335,456 150,270,963Increase/ (Decrease) in Long Term Borrowings 1,069,596,561 2,320,689,729Dividend Paid (344,792,448) (313,447,680) Net Cash Flow from Financing Activities ( C ) 3,261,139,569 2,157,513,012Net Increase in Cash (A+B+C) 265,777,934 (149,700,628)Cash at Beginning of the Year 781,819,587 931,520,215Cash at the End of the Year 1,047,597,521 781,819,587
Date: 2075/08/26 Place: Dhumbarahi-4, Kathmandu
___________________ Hara Raj Neupane
Member
________________ Manoj Silwal
Member
_______________________ Narayan Prasad Acharya
Chief Finance Officer
___________________ Shanti Laxmi Shakya
Member
___________________ Lekhanath Koirala
Member
___________________ Tulasi Ram Dhakal
Member
__________________ Ram Prasad Rimal
Member
_______________________ Madhav Prasad Koirala Chief Executive Officer
___________________ Kul Man Ghising
Chairman
______________________ Bhim Prasad Timalsina
Member
____________________ Parsado Tamang
Member
As per our report of even date Board of Directors
___________________ Pratap P. Pradhan
PrincipalPP Pradhan & Co.
Chartered Accountants
31
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
Consolidated Statement of Changes in EquityFor the year ended 32 Ashadh 2075 (16 July 2018)
NRs.
PARTICULARS SHARE CAPITAL RETAINED
EARNING TOTAL
NON CONTROLLING INTEREST (NCI)
TOTAL EQUITY
Opening Balance as on 1 Shrawan 2074 (16 July 2017)
3,447,924,480 4,671,013,672 8,118,938,152 2,344,630,858 10,463,569,010
Opening NFRS Adjustment (Sanjen) - (2,288,733) (2,288,733) (2,072,405) (4,361,138)
Opening Balance (Restated) 3,447,924,480 4,668,724,939 8,116,649,419 2,342,558,453 10,459,207,872
Equity Shares paid up during the year - - - 2,587,603,181 2,587,603,181
Equity Transaction(difference in retained earning brought forward revalued at current year NCI%)
- 48,210,245 48,210,245 (48,210,245) -
Bonus Share for FY 2073/74 capitalized in FY 2074/75
517,188,672 (517,188,672) - - -
Dividend for FY 2073/74 paid in FY 2074/75
- (344,792,448) (344,792,448) (344,792,448)
Net Profit After Tax - 895,661,653 895,661,653 (13,574,809) 882,086,844
Other Comprehensive Income - 5,298,181 5,298,181 - 5,298,181
NFRS Adjustment of Subsidiary - (1,087,902) (1,087,902) (985,075) (2,072,978)
Closing Balance as on 32 Asadh 2075 (16 July 2018)
3,965,113,152 4,754,825,995 8,719,939,147 4,867,391,504 13,587,330,652
NRs.
PARTICULARS SHARE CAPITAL RETAINED
EARNING TOTAL
NON CONTROLLING INTEREST (NCI)
TOTAL EQUITY
Opening Balance as on 1 Shrawan 2073 (16 July 2016)
3,134,476,800 4,436,732,958 7,571,209,758 2,221,195,939 9,792,405,696
Opening NFRS Adjustment (Sanjen) (11,962,368) (11,962,368) (3,537,599) (15,499,967)
Opening Balance (Restated) 3,134,476,800 4,424,770,589 7,559,247,389 2,217,658,340 9,776,905,729
Equity Shares paid up during the year - - - 146,186,128 146,186,128
Equity Transaction (difference in retained earning brought forward revalued at current year NCI %)
- (4,245,769) (4,245,769) 4,245,769 -
Bonus Share for FY 2072/73 capitalized in FY 2073/74
313,447,680 (313,447,680) - - -
Dividend for FY 2072/73 paid in FY 2073/74
- (313,447,680) (313,447,680) - (313,447,680)
Net Profit After Tax - 862,869,018 862,869,018 (26,836,044) 836,032,974
Other Comprehensive Income - 3,097,024 3,097,024 - 3,097,024
NFRS Adjustment (Subsidiary-Sanjen) - 11,418,170 11,418,170 3,376,665 14,794,835
Closing Balance as on 31 Asadh 2074 (15 July 2017)
3,447,924,480 4,671,013,672 8,118,938,152 2,344,630,857 10,463,569,010
Consolidated Statement of Changes in EquityFor the year ended 31 Ashadh 2074 (15 July 2017) Restated
32
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
NRs.
PARTICULARS SHARE CAPITAL RETAINED
EARNING TOTAL
NON CONTROLLING
INTEREST (NCI)TOTAL EQUITY
Opening Balance as on 1 Shrawan 2072 (17 July 2015)
2,725,632,000 4,901,563,422 7,627,195,422 1,815,740,423 9,442,935,845
Accumulated Assessment Tax - 505,184,366) (505,184,366) - (505,184,366)
Opening Balance (Restated) 2,725,632,000 4,396,379,056 7,122,011,056 1,815,740,423 8,937,751,479
Equity Shares paid up during the year - - - 479,169,368 479,169,368
Bonus Share for FY 2071/72 capitalized in FY 2072/73
408,844,800 (408,844,800) - - -
Dividend for FY 2071/72 paid in FY 2072/73
- (327,075,840) (327,075,840) - (327,075,840)
Net Profit After Tax - 935,529,594 935,529,594 - 935,529,594
Reserve and Surplus of Subsidiaries - 159,255,052) (159,255,052) (73,713,853) (232,968,905)
Closing Balance as on 31 Asadh 2073 (15 July 2016)
3,134,476,800 4,436,732,958 7,571,209,758 2,221,195,938 9,792,405,696
Consolidated Statement of Changes in EquityFor the year ended 31 Ashadh 2073 (15 July 2016) Restated
As per our report of even date
Date: 2075/08/26 Place: Dhumbarahi-4, Kathmandu
___________________ Hara Raj Neupane
Member
________________ Manoj Silwal
Member
_______________________ Narayan Prasad Acharya
Chief Finance Officer
___________________ Shanti Laxmi Shakya
Member
___________________ Lekhanath Koirala
Member
___________________ Tulasi Ram Dhakal
Member
__________________ Ram Prasad Rimal
Member
_______________________ Madhav Prasad Koirala Chief Executive Officer
___________________ Kul Man Ghising
Chairman
______________________ Bhim Prasad Timalsina
Member
____________________ Parsado Tamang
Member
___________________ Pratap P. Pradhan
PrincipalPP Pradhan & Co.
Chartered Accountants
33
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
Explanatory Notes FY2016-17 (2073/074)
A. General Information of the CompanyChilime Jalavidhyut Company Limited (CJCL or the Company) was incorporated in 1995 with the objective of hydroelectricity generation through optimal utilization of resources available within the country. CJCL is registered with the Office of the Company Register as a Public Limited Company.
CJCL owns and operates a power plant with 22.1 MW installed capacity which was commissioned on August 25, 2003 and is located in Rasuwa District, 133 km north of Capital City Kathmandu. It sells bulk electricity to NEA at rates agreed
upon in the Power Purchase Agreement (PPA). The annual energy generation from the plant is approximately 150 GWh.
Nepal Electricity Authority (NEA) holds majority ownership with 51% shareholding. Remaining 49% shareholding is from general public including 10% equity ownership of project affected local people. The shares of the Company is listed and traded on the Nepal Stock Exchange Limited (NEPSE).
The detailed structure of Equity of CJCL is as below:
Nepal Electricity Authority
51%
Employees of NEA and Chillime
25%
Project- affected local people10%
General Public
14%
Promoter Share
51%Public Share
49%
With the objectives of further development of hydropower, CJCL has invested in other hydroelectricity projects through three hydropower companies and one engineering consulting company. The accompanying consolidated Financial Statements includes these invested companies as the Company has effective control over them. (Details of the investments is discussed in Note 2)
B. Statement of ComplianceThe financial statements have been prepared in accordance with Nepal Financial Reporting Standards (NFRS) to the extent applicable and as published by the Accounting Standards Board (ASB) – Nepal and is approved by the 351th Board of Directors on its meeting held on 12 December 2018 (26 Mangsir 2075) and have been recommended for approval by shareholders in the 22nd Annual General Meeting.
C. Basis of Preparation and Reporting PronouncementsThe Company has, for the preparation and presentation of financial statements, opted to adopt Nepal Financial Reporting Standards (NFRSs) from the erstwhile Nepal Accounting Standards (NASs) both pronounced by Accounting Standards Board (ASB) Nepal. NFRS was pronounced by ASB Nepal as effective on 13 September 2013. The regulatory requirement for the Company to adopt NFRS was from the financial year 2073/74 (2016-17), however the Company opted for early adoption of NFRS as the basis of financial statement and prepared its first NFRS compliant financial statements in FY 2072/73.
NFRS conform, in material respect, to International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB).
34
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
NFRS 9 – Financial Instruments has been issued but is not effective until further notice. For the reporting of financial instruments, NAS 32 Financial Instruments, Presentation, NAS 39 Financial Instruments Recognition and Measurements and NFRS 7 Financial Instruments – Disclosures have been applied. A significant impact on classification and measurement including impairment of financial instruments, may arise as a result of application of NFRS 9.
A number of new standards and amendments to the existing standards and interpretations have been issued by IASB after the pronouncements of NFRS with varying effective dates. Those only become applicable when ASB Nepal incorporates them within NFRS.
D. Consolidation of Financial StatementsFinancial Statements of the parent Company, Chilime Jalavidhyut Company Limited (CJCL), and its subsidiaries Sanjen Jalavidhyut Co. Ltd (SJCL), Madhya Bhotekoshi Jalavidhyut Co. Ltd (MBJCL), Rasuwagadhi Hydropower Co. Ltd (RGHPCL) and Chilime Engineering and Services Co. Ltd.(CheSCO) have been consolidated in accordance with NFRS 3 and NFRS 10. The consolidated Financial Statements have been prepared on the following basis:
a) The Financial Statements of the parent and its subsidiary have been combined on a line-by-line basis by adding together the carrying values of like items of assets, liabilities, revenues and expenses after eliminating material intra-group balances / transactions and resulting profits in full, unrealized profit / losses resulting from intra-group transactions has also been eliminated except to the extent that recoverable value of related assets is lower than their cost to the Group.
b) The consolidated Financial Statements have been prepared using uniform accounting policies. Differences in accounting policies, if any, has been disclosed separately.
c) Non-Controlling Interest’s share in net assets of ‘the Group’ is identified and presented in the consolidated statement of financial position separate from liabilities and the equity of the Company’s shareholders as Non-Controlling Interest (NCI). (also refer Note 7.1)
d) The extent of the group’s control on the subsidiaries is reflected by the shareholding in the subsidiaries. The details of which is discussed in Note 2
e) The Financial Statements of the subsidiary used for consolidation are drawn for the same reporting period as that of the Parent Company i.e. year ended 32 Ashadh 2075 (16 July 2018). Due to first time adoption of NFRS by two subsidiaries SJCL and MBJCL, previous year information has been restated where applicable.
f ) The parent has acquired the shares in the subsidiaries in the form of promoter shares at par value.
E. Financial PeriodThe Company prepares Financial Statements in accordance with the Nepalese Financial Year (FY) using Nepalese Calendar. The corresponding dates for Gregorian Calendar are as follows:
PARTICULARSNEPALESECALENDAR
DATE / PERIOD
GREGORIAN CALENDAR
DATE / PERIOD
Comparative Reporting Period
1 Shrawan 2073– 31 Asadh 2074
16 July 2016 – 15 July 2017
Primary Reporting Period
1 Shrawan 2074– 32 Asadh 2075
16 July 2017 – 16 July 2018
F. Accounting ConventionThe Financial Statements have been prepared on historical cost conventions except for certain financial elements that have been measured at fair value, wherever standard requires or allows such measurement. The fair values, wherever used, are discussed in relevant notes.
The financial statements are prepared on accrual basis.
The financial statements have been prepared on a going concern basis. The Company has a reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future.
G. PresentationsPRESENTATION CURRENCYThe Company and its associates/subsidiaries operate within the jurisdiction of Nepal. Nepalese Rupees (NRs.) is the presentation and functional currency of the Company. Accordingly, the Financial Statements are prepared and presented in Nepalese Rupees and rounded off to the nearest Rupee (rounding errors have been ignored).
REARRANGEMENT AND RECLASSIFICATIONThe figures for previous year are rearranged, reclassified and/or restated wherever necessary for the purpose of facilitating comparison. Appropriate disclosures are made wherever necessary.
35
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
STATEMENT OF FINANCIAL POSITIONThe elements of Statement of Financial Position (SoFP) other than equity is presented in order of their liquidity by considering current and non-current nature which are further detailed in relevant sections.
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHEN-SIVE INCOMEThe elements of Statement of Profit or Loss (SoPL) and Other Comprehensive Income (OCI) have been prepared using classification ‘by function’ method. The details of revenue, expenses, gains and/ or losses have been disclosed in the relevant section of this notes.
Earnings per share (EPS) has been disclosed in the face of ‘SoPL and OCI’ in accordance with NAS 33.
STATEMENT OF CASH FLOWSThe Statement of Cash Flows (SCF) has been prepared using indirect method and the activities have been grouped under three major categories (Cash flows from operating activities, Cash flows from investing activities and Cash flows from financing activities) in accordance with NAS 07.
STATEMENTS OF CHANGES IN EQUITYThe Statement of Changes in Equity (SCE) has been prepared disclosing changes in each elements of equity.
H. Accounting Policies and Accounting EstimatesACCOUNTING POLICES The Company, under NFRS, is required to apply accounting
policies to most appropriately suit its circumstances and operating environment. The preparation of Financial Statements in conformity with NFRS requires management to make judgments, estimates and assumptions in respect of the application of accounting policies and the reported amounts of assets, liabilities, income and expenses.
Specific accounting policies have been included in the relevant notes for each item of the Financial Statements. The effect and nature of changes, if any, have been disclosed.
ACCOUNTING ESTIMATESThe preparation of Financial Statements in line with NFRS requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of Financial Statements and the reported amounts of revenue and expenses during the reporting period.
Management has applied estimation in preparing and presenting the Financial Statements. The estimates and the underlying assumptions are reviewed on an on-going basis. Revision to accounting estimates are recognized in the period in which the estimates are revised, if the revisions affect only that period; they are recognized in the period of revision and the future periods if the revisions affect both current and future periods.
Specific accounting estimates have been included in the relevant section of the notes wherever the estimates have been applied along with the nature and effect of changes of accounting estimates, if any.
36
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
I. Elements of Financial Statement
1. Property, Plant and Equipment (PPE)Property, Plant and Equipment (PPE) are those tangible assets used for generation and supply of energy, for administrative purpose or for rentals to others. These are recognized as PPEs, if and only if it is probable that future (i.e. for more than one accounting period) economic benefits associated with the items will flow to the Company; and the cost of the item can be measured reliably.
PPEs are stated in the SFP at their cost less accumulated depreciation and accumulated impairment losses, if applicable.
CostThe initial cost of PPEs includes purchase price and directly attributable cost of bringing the asset to the location and conditions necessary for it to be capable of operating in the manner intended by management. Subsequent costs that do not qualify the recognition criteria under NAS 16 are expensed as and when incurred.
NAS 16 and IFRIC 1 require cost of PPE to include the estimated cost for dismantling and removal of the assets, and restoring the site on which they are located. Management perceives that such costs are difficult to estimate and considering the past practice the amount of such costs will not be material to affect the economic decision of the user as a result of such non-inclusion. Therefore asset retirement obligation has not been recognized.
DepreciationThe management has estimated that depreciable amount of the assets is equivalent to the initial cost and thus the cost is systematically allocated based on the expected useful life of an asset. Items of property, plant and equipment are depreciated in full in the year of acquisition.
If an item of PPE consists of several significant components with different estimated useful lives and if the cost of each
component can be measured reliably, those components are depreciated separately over their individual useful lives.
The residual values, useful lives and the depreciation methods of assets are reviewed at least annually, and if expectations differ from previous estimates, changes are made in the estimates and are accounted for as a change in accounting estimates in accordance with NAS 8.
Management has considered that the land used for the Hydropower Plant will have a definite useful life of 50 years (under Built Own Operate and Transfer (BOOT) arrangement, discussed separately under note 1.1.2) and accordingly the cost of the land has been systematically allocated as amortization/depreciation.
Whereas, if the management considers the assets have an indefinite useful life (like land except those land properties under BOOT arrangement), no amortization / depreciation is charged.
De-recognitionAssets that have been decommissioned or identified as damaged beyond economic repair or rendered useless due to obsolescence, are derecognized whenever identified. On disposal of an item of PPE or when no economic benefits are expected from its use or disposal, the carrying amount of an item is derecognized. The gain or loss arising from the disposal of an item of PPE is the difference between net disposal proceeds, if any, and the carrying amount of that item and is recognized in the SoPL.
1.1 CLASSIFICATION, USEFUL LIVES AND DEPRECIATION METHOD
1.1.1 Estimation of Useful Lives and Depreciation Method usedDepreciation methods have been selected considering the pattern of inflow of economic benefits to the organization and thereby some class of assets are depreciated using straight line method (SLM) and some are depreciated using diminishing balance method (DBM). The details of estimated useful lives and depreciation method applied are as below:
37
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
ASSET Z CLASS - SUB CLASS DEPRECATION RATEUSEFUL LIFE
(IN YEARS)DEPRECIATION
METHOD APPLIED
Land – Plant 2 50 SLM
Land - Not related to plat - - None
Building – Powerhouse 2 50 SLM
Building - Office Building (Kathmandu) 14.29 7 SLM
Building - Other Buildings 4 25 SLM
Civil Structure - Plant Civil Structures 2 50 SLM
Civil Structure - Civil Partition and Other Civil Works 25 4 SLM
Distribution Line 4 25 SLM
Hydromechanical Works 2 50 SLM
Electromechanical Works Refer to Note 1.1.2 SLM
Tools and Equipment 15 6.67 DBM
Office Equipment 25 4 DBM
Furniture and Fixtures 25 4 DBM
Vehicles 20 5 DBM
Other Assets 15 6.67 DBM
* DBM = Diminishing Balance Method
* SLM = Straight Line Method
1.1.2 Useful life of Electromechanical WorksDepreciation methods have been selected considering the pattern of inflow of economic benefits to the organization and thereby some class of assets are depreciated using
straight line method (SLM) and some are depreciated using diminishing balance method (DBM). The details of estimated useful lives and depreciation method applied are as below:
SN COMPONENTS DEPRECATION RATE USEFUL LIFE (IN YEARS)
1 Turbine
2.00% 50
2.50% 40
3.33% 30
2 Generator 3.33% 30
3 Power Transformers 3.33% 30
4 Station/ Other Transformers 3.33% 30
5 66KV Switchgear Equipment 2.00% 50
6 Relay and Control switchboards3.33% 30
5.00% 20
7 Instrument Transformers 3.33% 30
8 12 KV Switchgear 2.50% 40
9 Low Voltage Distribution Panel 2.00% 50
10 Lightning Arrestor 2.86% 35
11 Storage Battery and Battery Charger 6.67% 15
12 Grounding Material 2.00% 50
38
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
SN COMPONENTS DEPRECATION RATE USEFUL LIFE (IN YEARS)
13 Ancillary Equipment
2.00% 50
2.50% 40
2.86% 35
3.33% 30
4.00% 25
5.00% 20
6.67% 15
14 Cables
2.00% 50
2.86% 35
3.33% 30
15 Miscellaneous Materials2.50% 40
6.67% 15
16 Steel Structures 2.00% 50
17 Communication Equipment5.00% 20
6.67% 15
Other notes on PPE
1.1.3 LANDLand properties with ownership documents (i.e. in occupation and with valid documentation) have been considered to meet the asset recognition criteria and have been recognized as asset under appropriate heading.
Land under BOOT ArrangementCJCL obtained the license for generation of 22.1 MW Hydropower Plant from the then Ministry of Water Resource (Current: Ministry of Energy) for a period of 50 years (i.e. from 26 Shrawan 2054, 10 Aug 1997 to Asadh end 2104, Mid July 2047), therefore the useful life of plant assets (which need to be handed over at the end of the BOOT period) cannot exceed 50 years even if the economic life of the assets is more, as the entire generation unit needs to be transferred to the Government of Nepal at the end of this license term. Therefore, CJCL depreciates its land assets at the generation unit using a depreciation rate of 2%.
NRs.
LOCATIONAREA (ROPANI-
ANA-PAISA-DAM)COST
Syafrubesi and Goljung Rasuwa
556-2-0-3 9,257,081
1.1.4 BUILDINGS AND CIVIL STRUCTUREAll civil infrastructures have been classified on the basis of their built type (such as Reinforced Cement Concrete pillar structure, load bearing, stone masonry, shed and other structures etc.).
1.1.5 CAPITAL WORK IN PROGRESSCosts related to assets in the course of acquisition and construction are recognized as Capital Work in Progress (CWIP) and are carried at cost, less accumulated impairment losses, if any. The detail of CWIP is as follows:
NRs.
PARTICULARS 32.03.2075
(16.07.2018)
31.03.2074(15.07.2017)
Restated
01.04.2073(16.07.2016)
Restated
Relating to CJCL 61,236,954 5,593,702 -
Relating to Subsidiaries:
Sanjen Jalavidhyut Co. Ltd. 4,366,488,548 3,067,731,781 2,088,704,587
Madhya Bhotekoshi Jalavidhyut Co. Ltd. 4,609,321,517 2,954,105,901 1,142,433,286
Rasuwagadhi Hydropower Co. Ltd. 5,149,823,885 3,465,147,201 2,057,348,654
Total 14,186,870,904 9,492,578,585 5,288,486,527
39
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
Depreciation on this asset commences when the asset is ready for its intended use. This item is shown at cost and disclosed as CWIP under PPE. The CWIP includes the license fee paid to Department of Electricity Development (DOED).
Three subsidiaries are in the process of developing their four hydroelectric projects. All the costs directly related to the development of the projects are charged to the CWIP and carried until the assets are ready to be used to be recognized under PPE. Construction and other assets recognized under PPE of the Subsidiaries/Associates are subject to annual depreciation charges and such charges are subsequently
transferred to CWIP as they directly and indirectly contribute toward creation of those assets.
1.1.6 RESTRICTION ON PPECJCL will have to transfer the entire generation unit to Government of Nepal under BOOT arrangement after the end of 50 years of operation. Please refer to Note 1.1.3 for more details.
Similar restrictions are also applicable to the assets of the subsidiaries at the expiration of generation license of a period of 35 year applicable to subsidiaries except Chilime Engineering and Services Company Ltd.
40
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
NRs
PART
ICU
LARS
CO
ST
DEP
RECI
ATIO
NN
ET B
OO
K V
ALU
E (N
BV)
OPE
NIN
G
ADD
ITIO
NS
DU
RIN
G
THE
YEA
RCL
OSI
NG
USE
FUL
LIFE
IN
YEAR
SO
PEN
ING
FO
R TH
E YE
AR
ON
B/
F
FOR
THE
YEA
R O
N
AD
DIT
ION
CHA
RGE
FOR
THE
YEA
R TO
TAL
ACCU
MUL
ATED
DEPR
ECIA
TION O
N
DIS
POSA
L
CLO
SIN
GO
PEN
ING
DIS
POSA
LCL
OSI
NG
Land
Lan
d –
Plan
t9,
257,
081
-9,
257,
081
502,
591,
983
185,
142
-18
5,14
2-
2,77
7,12
46,
665,
098
-6,
479,
957
Land
– N
ot
rela
ted
to p
lant
183,
373,
609
-18
3,37
3,60
9-
--
--
--
183,
373,
609
-18
3,37
3,60
9
Build
ing
Offi
ce B
uild
ing
(Kat
hman
du)
9,98
1,72
2-
9,98
1,72
27
7,12
9,80
11,
425,
960
-1,
425,
960
-8,
555,
762
2,85
1,92
1-
1,42
5,96
0
Pow
erho
use
175,
639,
691
-17
5,63
9,69
150
55,7
25,2
643,
512,
794
-3,
512,
794
-59
,238
,058
119,
914,
427
-11
6,40
1,63
3
Build
ing
- Oth
ers
--
--
--
--
--
--
-
Offi
ce B
uild
ing
- Pr
ojec
t3,
895,
369
-3,
895,
369
252,
170,
774
155,
815
-15
5,81
5-
2,32
6,58
81,
724,
595
-1,
568,
781
Resi
dent
ial
Build
ing
112
,311
,087
-12
,311
,087
254,
855,
372
492,
443
-49
2,44
3-
5,34
7,81
57,
455,
715
-6,
963,
272
Resi
dent
ial
Build
ing
210
,033
,631
-10
,033
,631
255,
188,
570
401,
345
-40
1,34
5-
5,58
9,91
54,
845,
062
-4,
443,
717
Resi
dent
ial
Build
ing
311
,972
,821
-11
,972
,821
256,
417,
638
478,
913
-47
8,91
3-
6,89
6,55
15,
555,
183
-5,
076,
271
Clin
ic B
uild
ing
513,
798
-51
3,79
825
286,
324
20,5
52-
20,5
52-
306,
876
227,
474
-20
6,92
2
Lab
Build
ing
493,
425
-49
3,42
525
274,
971
19,7
37-
19,7
37-
294,
708
218,
454
-19
8,71
7
Stor
e Bu
ildin
g1,
682,
286
-1,
682,
286
2593
7,48
867
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-67
,291
-1,
004,
779
744,
798
-67
7,50
6
Gua
rd H
ouse
1,10
6,83
2-
1,10
6,83
225
616,
805
44,2
73-
44,2
73-
661,
078
490,
027
-44
5,75
4
Civi
l Str
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res-
Pr
ojec
t
Hea
drac
e Tu
nnel
1,06
8,16
8,97
1-
1,06
8,16
8,97
150
299,
087,
312
21,3
63,3
79-
21,3
63,3
79-
320,
450,
691
769,
081,
659
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8,28
0
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k24
5,08
5,62
7-
245,
085,
627
5077
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4,90
1,71
3-
4,90
1,71
3-
82,6
60,1
1216
7,32
7,22
7-
162,
425,
515
Pow
er C
anal
79,9
23,6
64-
79,9
23,6
6450
25,3
57,4
081,
598,
473
-1,
598,
473
-26
,955
,881
54,5
66,2
56-
52,9
67,7
83
Rese
rvoi
r62
,223
,180
-62
,223
,180
5019
,741
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1,24
4,46
4-
1,24
4,46
4-
20,9
86,0
3342
,481
,611
-41
,237
,147
Siph
on S
truc
ture
13,5
86,3
55-
13,5
86,3
5550
4,31
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727
1,72
7-
271,
727
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582,
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Civi
l wor
ks- o
ther
s-
--
--
--
--
--
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Oth
er C
ivil
Wor
ks15
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,653
-15
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258,
523,
257
611,
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771,
397
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Civi
l Par
titio
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383
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013,
383
42,
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383
503,
346
--
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383
--
-
Dis
trib
utio
n Li
ne
1.2
DET
AIL
S O
F PR
OPE
RTY,
PLA
NT
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D E
QU
IPM
ENT
OF
FY: 2
074/
75 (2
017-
18)
Expl
anat
ory
Not
es
41
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
PART
ICU
LARS
CO
ST
DEP
RECI
ATIO
NN
ET B
OO
K V
ALU
E (N
BV)
OPE
NIN
G
ADD
ITIO
NS
DU
RIN
G
THE
YEA
RCL
OSI
NG
USE
FUL
LIFE
IN
YEAR
SO
PEN
ING
FO
R TH
E YE
AR
ON
B/
F
FOR
THE
YEA
R O
N
AD
DIT
ION
CHA
RGE
FOR
THE
YEA
R TO
TAL
ACCU
MUL
ATED
DEPR
ECIA
TION O
N
DIS
POSA
L
CLO
SIN
GO
PEN
ING
DIS
POSA
LCL
OSI
NG
Dis
trib
utio
n Li
ne12
,718
,433
-12
,718
,433
257,
087,
605
508,
737
-50
8,73
7-
7,59
6,34
35,
630,
827
-5,
122,
090
Hydr
o M
echa
nica
l W
orks
Hyd
ro M
echa
nica
l W
orks
34,3
09,9
788,
190,
916
42,5
00,8
9550
10,7
31,3
6068
6,20
016
3,81
885
0,01
8-
11,5
81,3
7823
,578
,619
-30
,919
,517
Elec
tro
Mec
hani
cal
Wor
ks
Elec
tro
Mec
hani
cal W
orks
807,
466,
804
226,
000
807,
692,
804
Refe
r to
Not
e 1.
1.2
325,
256,
331
23,8
63,0
187,
533
23,8
70,5
51-
349,
126,
882
482,
210,
473
-45
8,56
5,92
2
Tool
s
Tool
s an
d Eq
uipm
ent
30,7
24,8
4832
9,69
831
,054
,545
719
,529
,129
1,67
9,35
822
,539
1,70
1,89
6-
21,2
31,0
2611
,195
,718
-9,
823,
520
Acco
untin
g So
ftw
are
-59
7,77
059
7,77
05
--
119,
554
119,
554
-11
9,55
4-
-47
8,21
6
Offi
ce E
quip
men
tan
d Fu
rnitu
re
Offi
ce E
quip
men
t9,
702,
428
548,
334
10,2
50,7
624
6,31
6,99
884
6,35
740
,493
886,
850
-7,
203,
848
3,38
5,43
0-
3,04
6,91
4
Furn
iture
and
Fi
xtur
e5,
248,
921
545,
010
5,79
3,93
24
3,50
2,27
743
6,66
256
,597
493,
259
-3,
995,
536
1,74
6,64
5-
1,79
8,39
6
Vehi
cles
Vehi
cles
44,5
44,5
7316
,490
,085
61,0
34,6
585
31,7
88,5
612,
551,
202
1,40
1,28
13,
952,
483
-35
,741
,044
12,7
56,0
11-
25,2
93,6
14
Oth
er A
sset
s
Oth
er A
sset
s8,
447,
996
294,
780
8,74
2,77
67
5,56
8,11
344
2,00
629
,210
471,
216
-6,
039,
329
2,87
9,88
4-
2,70
3,44
7
Tota
l Ass
ets
2,85
9,72
1,16
727
,222
,594
2,88
6,94
3,76
193
2,76
7,23
968
,312
,693
1,84
1,02
669
,650
,373
-1,
002,
417,
613
1,92
6,95
3,92
8-
1,88
4,52
6,14
8
Chili
me
Engi
neer
ing
&
Serv
ices
Co.
Ltd
1,08
5,46
512
,215
,969
13,3
01,4
34-
10,4
66-
-1,
370,
231
--
1,07
4,99
911
,920
,738
Tota
l Ass
ets
2,86
0,80
6,63
239
,438
,563
2,90
0,24
5,19
593
2,77
7,70
568
,312
,693
1,84
1,02
671
,020
,604
-1,
002,
417,
613
1,92
8,02
8,92
7-
1,89
6,44
6,88
6
Dep
reci
atio
n of
sub
sidi
arie
s (1
.2.1
)-
--
--
--
5,28
0,56
1-
--
--
Tota
l2,
860,
806,
632
39,4
38,5
632,
900,
245,
195
932,
777,
705
68,3
12,6
931,
841,
026
76,3
01,1
65-
1,00
2,41
7,61
31,
928,
028,
927
-1,
896,
446,
886N
Rs.
42
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
1.2.
1 CO
NST
RUC
TIO
N A
SSET
S –
SUB
SID
IARY
a. D
epre
ciat
ion
Sche
dule
of S
JCL
& M
BJCL
PART
ICU
LARS
CO
ST
NET
BO
OK
VA
LUE
(NBV
)
OPE
NIN
G
ADD
ITIO
NS
DU
RIN
G
THE
YEA
R
DIS
POSA
LS
DU
RIN
G T
HE
YEA
RCL
OSI
NG
OPE
NIN
G
CHA
RGE
FOR
THE
YEA
R TO
TAL
ACCU
MUL
ATED
DEPR
ECIA
TION O
N
DIS
POSA
L
CLO
SIN
G01
.04.
2073
(16.
07.2
016)
Rest
ated
31.0
3.20
74
(15.
07.2
017)
32.0
7.20
75
(16.
07.2
018)
Sanj
en
Jala
vidh
yut C
o.
Ltd.
13,0
68,1
691,
302,
081
- 14
,370
,250
8,37
8,06
81,
566,
693
- 9,
944,
761
5,02
2,31
54,
690,
101
4,42
5,48
9
Mad
hya
Bhot
ekos
hi
Jala
vidh
yut C
o.
Ltd.
485,
762,
222
84,9
30,7
5515
5,90
057
0,53
7,07
761
,619
,008
7,17
1,49
610
1,31
668
,689
,188
415,
566,
450
424,
143,
214
501,
848,
188
Tota
l49
8,83
0,39
186
,232
,836
155,
900
584,
907,
327
69,9
97,0
768,
738,
189
101,
316
78,6
33,9
4942
0,58
8,76
542
8,83
3,31
550
6,27
3,67
7
Dep
reci
atio
n Ch
arge
d in
CW
IP o
f MBJ
CL
5,82
9,25
5
Dep
reci
atio
n Ch
arge
d in
So
PL fo
r SJC
L an
d M
BJCL
(a)
2,
908,
934
b. D
epre
ciat
ion
Sche
dule
of R
GH
PCL
PART
ICU
LARS
CO
ST
NET
BO
OK
VA
LUE
(NBV
)
OPE
NIN
G
NBV
ADD
ITIO
NS
DU
RIN
G
THE
YEA
R
DIS
POSA
LS
DU
RIN
G T
HE
YEA
RCL
OSI
NG
OPE
NIN
G
CHA
RGE
FOR
THE
YEA
R TO
TAL
ACCU
MUL
ATED
DEPR
ECIA
TION O
N
DIS
POSA
L
CLO
SIN
G31
.03.
2073
(1
5.07
.201
6)31
.03.
2074
(1
5.07
.201
7)32
.07.
2075
(1
6.07
.201
8)
Rasu
wag
adhi
H
ydro
pow
er C
o.
Ltd.
125,
071,
350
80,2
07,0
98
- 20
5,27
8,44
8 82
,303
,734
19
,560
,914
-
101,
864,
648
142,
244,
811
125,
071,
351
185,
717,
534
Less
: D
epre
ciat
ion
Char
ged
in C
WIP
17
,189
,287
Dep
reci
atio
n Ch
arge
d to
So
PL (b
)
2,37
1,62
7
Tota
l (A
+B)
5,
280,
561
562,
833,
576
553,
904,
666
691,
991,
211
NRs
.
43
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
1.3 IMPAIRMENT OF PPE1.3.1 Application of Impairment TestsImpairment of an item of PPE is identified by comparing the carrying amount with its recoverable amount. If individual asset do not generate future cash flows independently of other assets, recoverability is assessed on the basis of cash generating unit (CGU) to which the asset can be allocated.
At each reporting date the Company assesses whether there is any indication that an asset may have been impaired. If such indication exists, the recoverable amount is determined. The recoverable amount of a CGU is determined at the higher of fair value less cost to sell on disposal and value-in-use. Generally recoverable amount is determined by means of discounted cash flows unless it can be determined on the basis of a market price. Cash flow calculations are supported by past trend and external sources of information and discount rate is used to reflect the risk specific to the asset or CGU.
1.3.2 Impairment IndicationThere were no indications of impairment during the year.
2. Investment in Subsidiaries and AssociatesThe Company has made investments in equity shares of following companies. As the Company’s extent of investment in the invested companies allows it to have effective control over the governance and functions. The investment is treated as investment in subsidiaries under NAS 28. The invested companies are consolidated and reported as Subsidiaries under NFRS 3 and NFRS 10.
The Company recognizes investment in subsidiaries of at cost on initial recognition, where cost is assumed to be the fair value of investments.
Chilime Engineering and Services Co. Ltd. commenced operation in the FY 2073/74. The other three companies are in the process of constructing their respective hydropower projects and are yet to begin electricity generation.
Accounting policies and practices of the subsidiaries are aligned with the Company including the reporting period which is coterminous. Chilime Engineering and Services Co. Ltd. commenced operation in the FY 2073/74 (2016.2017). The other three companies are in the process of constructing their respective hydroelectric projects and are yet to begin electricity generation.
NRs.
SUBSIDIARYCAPACITY
IN MWHPARTICULARS
32.03.2075(16.07.2018)
31.03.2074(15.07.2017)
Sanjen Jalavidhyut Co. Ltd(52.48% equity holding, 67% voting right)
57.30
Total Committed 1,436,644,900 1,436,644,900
Amount invested at Cost 1,436,644,900 1,436,644,900
Carrying Amount 1,436,644,900 1,436,644,900
Madhya Bhotekoshi Jalavidhyut Co. Ltd (72.55% equity holding, effective control 57% voting right
102.00
Total Committed 2,220,000,000 2,280,000,000
Amount invested at Cost 2,220,000,000 2,100,000,000
Carrying Amount 2,220,000,000 2,100,000,000
Rasuwagadhi Hydropower Co. Ltd (43.72% equity holding, 60% voting right)
111.00
Total Committed 2,243,731,000 2,258,025,000
Amount invested at Cost 2,243,731,000 2,192,500,000
Carrying Amount 2,243,731,000 2,192,500,000
Chilime Engineering & Services Co. Ltd. (100% owned subsidiary)
N/A
Total Committed 60,000,000 60,000,000
Amount invested at Cost 24,126,583 16,121,188
Carrying Amount 24,126,583 16,121,188
Total Carrying Amount 5,924,502,483 5,745,266,088
Consolidation Adjustment (5,924,502,483) (5,745,266,088)
Net Carrying Amount - -
44
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
The extent of control over the subsidiaries will change over the coming years. Considering the committed percentage of shareholding, the share ownership of CJCL will eventually be restricted. The percentage of shareholding of CJCL in the subsidiaries and the eventual dilution of control is as follows.
NRs.
PARTICULARS 32.03.2075
(16.07.2018)
31.03.2074(15.07.2017)
Restated
01.04.2073 (16.07.2016)
Restated
Committed%
Sanjen Jalviduit Co. Ltd.
52.48% 77.18% 77.11% 39.36
Madhya BhotekoshiJalviduit Co. Ltd.
72.55% 73.16% 70.80% 37.0
Rasuwagadhi Hydropower Co. Ltd.
43.72% 63.77% 61.57% 33.0
Chilime Engineering and Services Co. Ltd.
100.00% 100.00% - 100.0
In case of Rasuwagadhi, although equity ownership is 43.72%, effective control as per voting right is 60% for the FY 74/75.
3. InventoryInventories are carried at the lower of cost and net realizable value (NRV). Cost comprises of all costs of purchase, cost of conversion and other costs incurred in bringing the inventories to their present location and condition.
Cost is measured using First In First Out (FIFO) method.
NRs.
PARTICULARS 32.03.2075(16.07.2018)
31.03.2074(15.07.2017)
Restated
01.04.2073 (16.07.2016)
Restated
Miscellaneous Store-Central Office
14,888 29,268 32,822
Store, spare parts and loose tools 161,872,603 176,722,490 179,834,438
less: written off during year - (1,335,933) -
Relating to Subsidiaries:
Sanjen Jalavidhyut Co. Ltd. 1,379,308 536,215 619,637
Madhya Bhotekoshi Jalavidhyut Co. Ltd.
219,904 161,309 209,018
Rasuwagadhi Hydropower Co. Ltd.
3,307,250 2,374,727 1,626,756
Total 166,793,953 178,488,076 182,322,671
Store, Spare Parts and Loose Tools
NAS 16, paragraph 8 and 9 specifically states that :
Spare parts and servicing equipment are usually carried as inventory and recognized in SoPL when consumed.
Major spare parts and stand-by equipment qualify as PPE when and entity expects to use them during more than one period.
The standard does not prescribe the unit measure for recognition and judgment is to be applied in determining what constitutes an item of PPE.
Management determines that these stores and spare parts are of consumable nature and are held for consumption in the production (generation) of electrical energy. These are either expected to be used within one year or the economic values will be obtained when consumed. Therefore, these store, spare parts and loose tools have been considered as inventory and presented accordingly.
4. PrepaymentsThese are expenses paid for the period beyond the financial period covered by the Financial Statements. These will be charged as expenses in the respective period for which such expenses pertain to.
NRs.
PARTICULARS 32.03.2075
(16.07.2018)
31.03.2074(15.07.2017)
Restated
01.04.2073 (16.07.2016)
Restated
Chilime Jalavidhyut Co. Ltd. 1,830,547 2,231,333 2,391,800
Relating to Subsidiaries
Sanjen Jalavidhyut Co. Ltd. 14,290 298,346 271,848
Madhya Bhotekoshi Jalavidhyut Co. Ltd.
215,912 188,252 152,762
Rasuwagadhi Hydropower Co. Ltd.
1,157,305 1,217,835 1,236,452
Chilime Engineering and Services Co. Ltd.
53,162 466,214 0
Total 3,271,216 4,401,980 4,052,862
5. Financial InstrumentsThe Company classifies financial assets and financial liabilities in accordance with the categories specified in NAS 32 and NAS 39.
5.1 FINANCIAL INSTRUMENTS: FINANCIAL ASSETSFinancial asset is any asset that is:(a) cash(b) an equity instrument of another entity;(c) a contractual right: i) to receive cash or another financial asset from
another entity; or ii) to exchange financial assets or financial liabilities
with another entity under conditions that are potentially favourable to the entity; or
(d) a contract that will or may be settled in the entity’s own equity instruments and is:
(i) a non-derivative for which the entity is or may be obliged to receive a variable number of the entity’s own equity instruments; or
(ii) a derivative that will or may be settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments.
45
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
Financial assets are classified under four categories as required by NAS 39, namely, Fair Value through SoPL, Held to Maturity, Loans and Receivables and Available for Sale.
Financial Assets of the Company comprises of Advances, Deposits and Other Receivables, Trade Receivables and Cash and Bank Balances.
These instruments are interest bearing and non-interest bearing. Where interest component is present, the implicit interest rate approximates effective interest rate. It is assumed that the carrying amount represents the amortized cost of the assets.
Loans and ReceivablesLoans and receivables are non-derivative financial assets
with fixed or determinable payments that are not quoted in an active market and it is expected that substantially all of the initial resource will be recovered, other than because of credit deterioration.
Held to MaturityHeld-to-maturity investments are non-derivative financial assets with fixed or determinable payments that an entity intends and is able to hold to maturity and that do not meet the definition of loans and receivables and are not designated on initial recognition as assets at fair value through SoPL or as Available for Sale. Held-to-maturity investments are measured at amortized cost.
5.1.1 Advances, Deposits and Other ReceivablesThese comprise Advances, Deposit and Prepayments and Other Receivables. Details are as given below:
NRs.
PARTICULARS32.03.2075(16.07.2018)
31.03.2074(15.07.2017)Restated
01.04.2073 (16.07.2016)
RestatedAdvances
Employee Loan/Advances 286,444 150,295 250,200
NEA Unit Current - 236,364 -
Chilime Sarokar Samiti - 2,500,000 -
Advance Tax (5.1.1.a) 17,758,535 14,169,647 22,446,817
Andritz Hydro 31,950 31,950 492,950
Other Advances 46,408 348,550 328,302
Nepal Hydro and Electric Limited - - 1,536,000
Relating to Subsidiaries - - -
Sanjen Jalavidhyut Co. Ltd. 559,384,908 725,492,127 711,188,576
Madhya Bhotekoshi Jalavidhyut Co. Ltd. 992,547,271 1,124,472,126 1,130,593,853
Rasuwagadhi Hydropower Co. Ltd. 1,079,798,370 1,271,866,144 1,483,332,422
Chilime Engineering and Services Co. Ltd. 1,046,755 865,616 -
Sub-Total 2,650,900,641 3,140,132,819 3,350,169,120
Currently the Group holds the following categories of financial assets:
RELEVANT NOTES
RELEVANT
FAIR VALUE AMORTIZED COST
DESIGNATED AT FVTPL AVAILABLE FOR SALE LOANS AND RECEIVABLES HELD TO MATURITY
5.1.1 - -Advances, Deposits and Other
Receivables-
5.1.2 - - Trade Receivables -
5.1.3 - - - Investment in Term Deposits
5.1.4 - - Balances with Banks Balances with Banks
* FVTPL = Fair Value through SoPL.
46
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
PARTICULARS32.03.2075(16.07.2018)
31.03.2074(15.07.2017)Restated
01.04.2073 (16.07.2016)
RestatedDeposits
Deposit 316,000 - 341,036
DOED (Hydroelectric Project) - - 8,000,000
DOED (Budhigandaki Pork,Hydroelectric Project) - 10,000,000 -
DOED (Budhigandaki Syar,Hydroelectric Project) - 10,000,000 -
DOED (Dudkoshi-4,Hydroelectric Project) - 12,000,000 -
DOED (Dudkoshi-5,Hydroelectric Project) - 12,000,000 -
DOED (Setinadi Hydroelectric Project) - 20,000,000 -
Deposit with IRD and Revenue Tribunal (5.1.1.a) 21,717,410 30,553,347 30,553,347
DOED Budhigandaki “A” Hydroelectric Project (5.1.1.b) 20,000,000 - -
Rasuwa District Office 753,800 753,800 753,800
Other Deposits 8,750 8,750 8,750
Sub-Total 42,795,960 95,315,897 39,656,933
Other Receivables
Other - - 60,000
NEA Unit Current Account (Net) 277,259 - 223,359
Bank Interest Receivable 6,312,232 129,452 123,288
Chilime Engineering & Services Co. Ltd. - 371,188 -
Sub-Total 6,589,491 500,640 406,647
Grand Total 2,700,286,091 3,235,949,356 3,390,232,700
NRs.
FOR FINANCIAL YEAR
DEPOSIT MAINTAINEDFOR ADMINISTRATIVE REVIEW AT REVENUE TRIBUNAL
TOTALAMOUNT DATE AMOUNT DATE
2060/61 18,575,629 2065.08.26 9,287,814 2065.12.20 27,863,443
2061/62 1,793,090 2066.04.18 896,814 2066.09.24 2,689,904
Total 20,368,719 10,184,628 30,553,347
Revised Tax Assessment (amount of assessed tax for 2060/61 and 2061/62) (12,950,121)
Advance tax (on bank Interest up to 2061/62) adjusted with revised tax assessment 4,114,184
Deposit balance transferred to next year 21,717,410
NRs.
DETAILS OF ADVANCE TAX AMOUNT NRS DATE FINANCIAL YEAR
Advance tax deposited based on estimate 7,300,00025.09.2074; 8.12.2075;
21.03.20752074-75 (2017-18)
Advance tax (on bank Interest) 10,458,535 VariousUp to 2074-75
(2017-18)
Total Advance Tax 17,758,535
5.1.1. a Tax Deposits and Advance Tax Against the amended assessment by Large Tax Payer’s Office (LTPO) and decisions of Inland Revenue Department (IRD) on Administrative Review, CJCL had filed for Administrative Review process to Inland Revenue Department and Revenue Tribunal respectively. The Large Tax Payer Office has settled the pending issue of income tax related to Fiscal Year
2060/61 and 2061/62. The previous calculation of these fiscal years has been revised and determined as NRs. 12,950,121 instead of NRs. 56,214,221. The remaining amount of NRs. 21,717,409.60 has been transferred for next year. The details of amounts deposited by the Company for the reviews and the balance transferred for next year are as follows:
47
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
5.1.1. b Department of Electricity Development (DOED) DepositsCJCL had deposited an amount of NRs. 20,000,000 with the DOED for survey licenses for the study of one hydroelectric project Budhigandaki ‘KA’ Hydroelectric Project with the proposed capacity of 130 MW.
During the year DEOD granted the survey licenses for the following projects:
PROJECT CAPACITYDEPOSIT
AMOUNT NRS.
Budhigandaki Prok Hydroelectric Project
420 MW 10,000,000
Budhigandaki Syar Khola Hydroelectric Project
60 MW 16,000,000
Seti Nadi-3 Hydroelectric Project 165 MW 20,000,000
Total 46,000,000
The cost of licensing of three hydroelectric projects is shown under capital work in progress.
Impairment of advances deposits and other receivables are tested if any indication is known. There are no known indicators of impairment.
5.1.2 Trade ReceivablesTrade Receivables comprise of amounts owed to the Company by its sole customer, NEA. These trade receivables do not carry any interest and are measured at the carrying amount at which the item is initially recognized less any impairment losses, i.e. stated at their nominal value as reduced by appropriate allowances.
The Trade Receivable balance from NEA is as follows:
NRs.
PARTICULARS 31.03.2074
(15.07.2017)
31.03.2074(15.07.2017)
Restated
01.04.2073 (16.07.2016)
Restated
Opening Balance: 122,069,450 138,622,649 140,174,952
Sales for the Year 1,138,432,864 1,196,889,744 1163138080
Total Receivable of this FY 1,260,502,314 1,335,512,393 1,303,313,032
Collection in this Fiscal year (1,131,041,768) (1,193,509,743) (1,164,690,383)
Less: Outage Written Off (FY 70/71 & FY 71/72)
- (10,785,600) -
Less: Excess Written Off (Kartik 2071)
- (9,147,600) -
Chilime Engineering & Services Co. Ltd.
6,647,658 479,450 -
Total 136,108,204 122,548,900 138,622,649
Company assumes, on the basis of the past trend that the receivables from NEA will be recovered in the normal course of business.
5.1.3 Investment in Term DepositsThe Company has following term deposits with various commercial banks in Nepal. These instruments have maturity of one year and are interest bearing. The interest rate varies from bank to bank depending on the market rates and the dates of the deposits.
The rates implicit on these deposits approximate the effective interest rates and the same rates are used to calculate the interest (finance) income and for the purpose of calculating the amortized costs of these assets. The carrying value of these assets represent the amortized costs..
NRs.
PARTICULARSINTEREST RATE (%)
32.03.2075(16.07.2018)
31.03.2074(15.07.2017)
Restated
01.04.2073 (16.07.2016)
Restated
Citizens Bank International Ltd.
13.25% 100,000,000 100,000,000 100,000,000
Century Commercial Bank Ltd.
11.15% 50,000,000 - -
Century Commercial Bank Ltd.
11.0% 50,000,000 - -
Everest Bank Ltd. 10.50% 80,000,000 - -
NMB Bank Ltd (USD Account)
1.25% 10,774,120 10,139,080 40,000,000
Global Bank Ltd. 10.5% 50,000,000 - -
Himalayan Bank Ltd. 11.5% 100,000,000 - -
Himalayan Bank Ltd. 11.0% 50,000,000 - -
Laxmi Bank Ltd 10.5% 20,000,000 20,000,000 20,000,000
Muktinath Bank Ltd. 11.5% 100,000,000 - -
Nepal SBI Bank Ltd. 11.15% 100,000,000 200,000,000 100,000,000
Janata Bank Ltd. - - 20,000,000
Prime Bank Ltd. 10.50% 50,000,000 50,000,000 120,000,000
Total 760,774,120 380,139,080 400,000,000
Sanjen Jalavidhyut Co. Ltd.
460,270,000 - -
Rasuagadhi Hydropower Co. Ltd.
750,000,000 - -
Sub-total 1,210,270,000
Total 1,971,044,120 380,139,080 400,000,000
These instruments are held with the intention for settlement of principal and interest only, with no other costs or premium/discounts being involved, the intrinsic coupon rate is taken as effective interest rate for all term deposits.
The Company has intention and capacity to hold these instruments until their respective maturity dates.
ImpairmentAll the above deposits are made with class ‘A’ commercial banks in Nepal which are closely regulated by the Central Bank. There has been no indication of impairment on these instruments.
48
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
5.1.4 Cash and Cash EquivalentCash and cash equivalents include deposit account balances maintained with banks or financial institutions. These enable the Company to meet its short term liquidity requirements.
The carrying amount of cash and cash equivalents approximates their fair value. They are readily convertible to known amount of cash and are subject to insignificant risk of change in value.
These balances have been used as Cash and Cash Equivalents for the presentation of SCF as well.
Banks and financial institution in Nepal are closely regulated by the Nepal Rastra Bank. The Company closely assesses the risks of these instruments and there are no apparent indication of impairment of these balances.
The Company discourages the use and holding of cash balances therefore there are no cash balances as at the reporting dates.
The details of Cash and Cash Equivalents are given below:
NRs.
PARTICULARS INTEREST RATE (%)
32.03.2075(16.07.2018)
31.03.2074(15.07.2017)
Restated
01.04.2073 (16.07.2016)
Restated
Bank
Normal Deposits
Himalayan Bank Limited 2.5% 6,134,570 4,698,797 36,077,423
Standard Chartered Bank Ltd 0% - 83,807 86,456
Janata Bank Nepal Ltd 0.6% 450,434 450,265 4,825,767
Janata Bank Nepal Ltd. (Dividend) 0% 66,103 66,103 66,103
Mega Bank Ltd 3% 917,815 3,025,134 32,300,711
Siddhartha Bank Ltd 4% 135,289,742 131,035,888 137,333,090
NMB Bank Ltd 3% 358,434 349,273 3,741,294
Jyoti Bikash Bank Ltd. 5% 9,243,920 280,0631 11,945,350
NMB Bank Ltd 3% 358,291 145,014 10,490,712
Everest Bank Ltd 0.5% 405,221 471,287 2,636,221
Nabil Bank Ltd 0% 119,073 119,073 119,073
Nepal SBI Bank Ltd. 1.5% 836 4,052,851 -
Nepal SBI Bank Ltd. 1.5% 7,272,692 1,373,406 -
Muktinath Bikash Bank Ltd.
5,581,686 - -
Nepal Bank Ltd 0% 123,703 5,179,656 57,218
Relating to Subsidiaries - - -
Sanjen Jalavidhyut Co. Ltd. 36,524,843 164,495,975 173,728,957
Madhya Bhotekoshi Jalavidhyut Co. Ltd.
276,084,225 296,782,375 334,042,243
Rasuwagadhi Hydropower Co. Ltd.
543,439,203 157,851,598 184,069,597
Chilime Engineering and Services Co. Ltd.
25,226,730 8,838,454 -
Total 1,047,597,521 781,819,587 931,520,215
5.1.5 Risk associated with Financial AssetsThe Company closely monitors the risks associated with the financial assets. The Company has an enterprise risk management system commensurate with the nature and the size of the business, which the management considers sufficient to identify, manage and monitor risks.
5.2 Financial Instruments: Financial LiabilitiesA financial liability is any liability that is: a) contractual obligation:(i) to deliver cash or another financial asset to another
entity; or (ii) to exchange financial assets or financial liabilities with
another entity under conditions that are potentially unfavorable to the entity; or
b) a contract that will or may be settled in the entity’s own equity instruments and is:
(i) a non-derivative for which the entity is or may be obliged to deliver a variable number of the entity’s own equity instruments; or
(ii) a derivative that will or may be settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments.
Financial Liabilities under NAS 39 are to be classified as Fair Value through SoPL and those Held at Amortised Cost. All financial liabilities held by the Company are classified as financial liabilities held at amortised cost using effective interest rate.
Financial liabilities held by the Company are non-interest bearing. The non-interest bearing instruments’ carrying value represents the amortised cost.
Categories of financial liabilities:
RELEVANT NOTES
FINANCIAL LIABILITIES AT FAIR VALUE
AMORTIZED COSTDESIGNATED
AT FVTPLHELD FOR TRADING
5.2.1 - -Trade and Other Payable
5.2.1 Trade and Other PayablesTrade and other payables mainly consist of amounts the Company owes to suppliers and government authority that have been invoiced or are accrued. These also include taxes due in relation to the Company’s role as an employer. These amounts have been initially recognized at cost and it is continued to be recognized at cost as it fairly represents the value to be paid since it does not include interest on payment.
49
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
NRs.
PARTICULARS 32.03.2075
(16.07.2018)
31.03.2074(15.07.2017)
Restated
01.04.2073 (16.07.2016)
Restated
Nepal Hydro and Electric Ltd.
1,147,984 1,147,984 -
Retention Money 4,455,881 2,727,768 2,594,217
NEA Unit Current Account
532,832 391,765 -
Income Tax 1,739,633 45,270,301 45,270,301
DOED (Royalty) 5,078,674 5,065,784 4,959,253
Other Liabilities 2,172,971 2,918,483 1,678,494
Relating to Subsidiaries
Sanjen Jalviduit Co. Ltd.
185,846,507 120,436,584 63,471,242
Madhya Bhotekoshi Jalviduit Co. Ltd.
99,265,845 60,281,139 22,487,820
Rasuwagadhi Hydropower Co. Ltd.
212,993,101 151,831,502 72,615,185
Chilime Engineering and Services Co. Ltd.
16,293,759 456,828 -
Total 529,527,187 390,528,138 213,076,512
6. Share CapitalThe Company’s registered share capital structure is as follows:
NRs.
PARTICULARSNUMBER
OF SHARES
VALUE PER
32.03.2075(16.07.2018)
31.03.2074(15.07.2017)
RESTATED
01.04.2073 (16.07.2016)
RESTATED
Authorized Capital
40,000,000 100 4,000,000,000 3,500,000,000 31,500,000,000
Issued Capital 39,700,000 100 3,970,000,000 3,470,000,000 3,140,000,000
Paid Up Capital
39,651,131 100 3,965,113,152 3,447,924,480 3,134,476,800
Total 3,965,113,152 3,447,924,480 3,134,476,800
The detailed structure of equity of CJCL is given as below:
NRs.
PARTICULARS32.03.2075
(16.07.2018)
31.03.2074(15.07.2017)
RESTATED
01.04.2073 (16.07.2016)
RESTATED
HOLDING HOLDING HOLDING
Nepal Electricity Authority (NEA)
51% 51% 51%
Employees of NEA and CJCL
25% 25% 25%
Project Effected Local People
10% 10% 10%
General Public 14% 14% 14%
Total 100% 100% 100%
Total Number of Share 39651131 34479244 31344768
Total Ordinary Share issued
9600000 9600000 9600000
Total Bonus Share Distributed
30051131 24879244 21744768
It is the Company’s policy to net off share issue expenses with the capital collected under NFRS. However the Company’s share capital has not been adjusted for such expenses as they pertain to periods of initial establishment of the Company and had been charged during the period of issue. It is not possible to reliably identify such costs and the management believes that the amount to be not material.
7. Retained EarningsThe details of retained earnings are as given below:
NRs.
PARTICULARS 32.03.2075
(16.07.2018)
31.03.2074(15.07.2017)
RESTATED
01.04.2073 (16.07.2016)
RESTATED
Opening Balance as on 1 Shrawan 2074 (16 July 2017)
4,671,013,672 4,436,732,958 4,901,563,422
Opening NFRS Adjustment (Sanjen)
(2,288,733) (11,962,368) -
Amended Tax Assessment - - (505,184,366)
Opening Balance (Restated) 4,668,724,939 4,424,770,589 4,396,379,056
Equity Transaction (difference in retained earning brought forward revalued at current year NCI%)
48,210,245 (4,245,769) -
Bonus Shares for FY 2073/74 capitalized in FY 2074/75
(517,188,672) (313,447,680) (408,844,800)
Dividend for FY 2073/74 paid in FY 2074/75
(344,792,448) (313,447,680) (327,075,840)
Net Profit After Tax 895,661,653 862,869,018 935,529,594
Other Comprehensive Income 5,298,181 3,097,024
NFRS Adjustment of Subsidiary (1,087,902) 11,418,170
Reserve & Surplus of Subsidiaries - - (159,255,052)
Closing Balance as on 32 Asadh 2075 (16 July 2018)
4,754,825,995 4,671,013,672 4,436,732,958
50
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
Bonus SharesThe Company paid bonus of NRs. 517,188,672 during the financial year 2074/75 (2017.18) and NRs 313,447,680 during the FY 2073/74 (2016.17) based on the declaration of bonus shares for the FY 2073/74 (2016.17) and 2072/73 (2015.16) respectively.
For the current year 2074/75 (2017.18) the board of directors have proposed 20% bonus shares, which is subject to approval by shareholders at the Annual General Meeting.
Cash DividendThe Company distributed cash dividend of NRs 344,792,448 and NRs 313,447,680 during the financial year 2074/75 (2017.18) and 2073/74 (2016.17) respectively based on the declaration of dividend for the financial year 2073/74 (2016.17) and 2072/73 (2015.16) respectively. The cash dividend per share was NRs. 10 for both financial years.
For the current year 2074/75 (2017.18) the board of directors have proposed 5% cash dividend, which is subject to approval by shareholders at the Annual General Meeting.
7.1 NON-CONTROLLING INTERESTNon-Controlling Interest has been recognized on the basis of the NCI’s shares in the net assets of the subsidiaries. Since the subsidiaries are not in operation the performance results of the subsidiaries are not included.
PARTICULARS 32.03.2075
(16.07.2018)
31.03.2074(15.07.2017)
RESTATED
01.04.2073 (16.07.2016)
RESTATED
Sanjen Jalviduit Co. Ltd. 1,252,983,847 404,473,767 400,773,686
Madhya Bhotekoshi Jalviduit Co. Ltd.
804,903,214 740,464,600 683,469,443
Rasuwagadhi Hydropower Co. Ltd.
2,809,504,443 1,199,692,490 1,136,952,809
Total 4,867,391,504 2,344,630,857 2,221,195,938
NCI %
PARTICULARS 32.03.2075
(16.07.2018)
31.03.2074(15.07.2017)
RESTATED
01.04.2073 (16.07.2016)
RESTATED
Sanjen Jalviduit Co. Ltd. 47.52% 22.82% 22.89%
Madhya Bhotekoshi Jalviduit Co. Ltd.
27.45% 26.84% 29.20%
Rasuwagadhi HydropowerCo. Ltd.
56.28% 36.23% 38.43%
8. Employee BenefitsEmployee BenefitsThe Company provides employee benefits in accordance to its by-laws which is in compliance with the local laws and regulations. The employee benefits are classified as current benefits and post-employment benefits.
Employee Benefits CostsFollowing employee benefits costs are charged to the Statement of SoPL for the year.
NRs.
PARTICULARS FY2074/075
(2017/18) 2073/074(2016/17)
Current Employee Benefits (Note 8.1)
Charged to Hydroelectric Plant Operating Expenses
41,349,695 39,081,449
Charged to Administrative Expense
15,172,131 16,925,190
Post-Employment Benefits (Note 8.2)
Defined Contribution Plan – Expenses (Note 8.2.1)
2,789,078 2,584,902
Gratuity Benefit (Note 8.2.3.1) 7,645,638 7,887,640
Leave Benefit (Note8.2.3.2) 1,635,705 582,740
Sub-Total 68,592,247 67,061,921
Others:
Provision for Staff Bonus SJCL 18,753,273 18,889,842
Provision for staff bonus CHEsco 406,791 -
Sub-Total 19,160,064 18,889,842
Relating to Subsidiaries:
Sanjen Jalavidhyut Company Ltd. 16,240,078 17,664,512
Madhya Bhotekoshi Jalavidhyut 15,218,793 13,465,188
Rasuwaghadi Hydropower Company Ltd.
11,636,420 15,447,536
Chilime Engineering & Services Co. Ltd.
29,490,846 2,921,108
Sub-Total 72,586,137 49,498,344
Grand Total 160,338,448 135,450,107
8.1 CURRENT EMPLOYEE BENEFITSCharged to Hydropower Plant Operating Expenses
NRs.
PARTICULARS FY2074/075
(2017/18) 2073/074(2016/17)
Salaries and Benefits
Salary 22,018,684 20,923,956
Allowances and Benefits 13,430,970 12,570,084
Overtime Allowance 3,996,253 3,889,594
Medical Benefits 1,903,788 1,697,816
Total of CJCL 41,349,695 39,081,450
Relating to Subsidiary:
Chilime Engineering & Services Company Ltd.
26,316,207 2,272,933
Grand Total 67,665,902 41,354,383
51
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
Charged to Administrative ExpensesNRs.
PARTICULARSFY2074/075
(2017/18) 2073/074(2016/17)
Salaries and Benefits
Salary 6,361,511 6,056,741
Wages 127,000 127,000
Allowances and Benefits 3,844,723 3,770,012
Overtime Allowance 609,345 822,174
Leave Encashment (Note 8.2.2) 517,516 1,728,084
Medical Benefits 6,188,309 511,143
Employee Insurance 3,023,727 3,910,037
Total SJCL 15,172,131 16,925,190
Relating to Subsidiaries:
Sanjen Jalavidhyut Company Ltd. 15,695,087 17,130,695
Madhya Bhotekoshi Jalavidhyut 14,629,887 12,935,596
Rasuwagadhi Hydropower Company Ltd.
11,079,186 14,920,179
Chilime Engineering & Services Co.Ltd.
3,143,398 634,910
Total of Subsidiaries 44,547,558 45,621,380
Grand Total 59,719,689 62,546,570
8.2 POST EMPLOYMENT BENEFITSThe Company operates separate defined benefit and defined contribution plans for its employees.
8.2.1 Defined Contribution ExpensesThe defined contribution expenses includes employer’s contribution for provident fund. These amounts have been deposited in Employee Provident Fund (EPF), a 100% Government of Nepal undertaking.
The Company contributes 10% of the salary on monthly basis as provident fund contribution for its employees.
NRs.
PARTICULARS FY2074/075
(2017/18) 2073/074(2016/17)
Employee’s Provident Fund Deposit:
Charged to Operational Expenses 2,100,760 2,014,250
Charged to Administrative Expenses 632,915 570,652
Employees Retirement Fund:
Charged to Operational Expenses 42,399 -
Charged to Administrative Expenses 13,004 -
Total of SJCL 2,789,078 2,584,902
Relating to Subsidiaries:
Sanjen Jalavidhyut Company Ltd. 544,991 533,817
Madhya Bhotekoshi Jalavidhyut 588,906 529,592
Rasuwaghadi Hydropower Company Ltd.
557,234 527,357
Chilime Engineering & Services Company Ltd.
31,241 13,265
Total of Subsidiaries 1,722,372 1,604,031
Grand Total 4,511,450 4,188,933
8.2.2 Defined Benefit ExpenseThe defined benefit plan of the Company includes Gratuity and Leave encashment Entitlements.
GratuityGratuity for employees have been provided as per actuarial assessment and the assessed amount has been recognized as liabilities. The Company’s gratuity policy provides that the employees who have served in the Company for 3 years or more shall be entitled to gratuity at the rates as prescribed below at the time of their termination from employment due to any reasons:
SERVICE YEARSRATE AT WHICH GRATUITY IS PAID AT RETIREMENT
Up to 7 years50% of current monthly salary for each year of service
More than 7 years up to 15 years
100% of current monthly salary for each year of service
More than 15 years up to 20 years
150% of currently monthly salary for each year of service
More than 20 years200% of current monthly salary for each year of service
Service period is to be calculated from the date of permanent appointment
With the recent changes in the Labor Act, the Company will follow the provisions of the act and provide for gratuity in accordance with the Act from FY 75/76.
Leave Encashment SchemeLeave encashment that are accumulative (the Company encashment of accumulated leave at the time of retirement) has been computed using actuarial assumptions. The Company’s policy allow its employees to accumulate earned Annual Leave and Sick Leave and claim payment on account of those accumulated leaves at the time of retirement at the rate of monthly salary the employee is eligible at the time of retirement.
Other non-accumulative leave encashment are accounted for as an expense in the financial year in which the payment is made.
52
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
PARTICULARS FY2074/075
(2017/18) 2073/074 (2016/17)
Leave Encashment (Charged to Administrative Expenses) 688,309 1,728,084
Other Retirement BenefitsThe Company does not have any other Retirement Benefit Schemes.
Defined Benefit Costs
PARTICULARS
32.03.2075 (16.07.2018) 31.03.2074 (15.07.2017)
GRATUITYLEAVE ENCASHMENT
GRATUITYLEAVE ENCASHMENT
SICK LEAVE ANNUAL LEAVE SICK LEAVE ANNUAL LEAVE
Current Service Cost 4,441,431 494,190 259,962 4,777,640 545,430 336,000
Gains Recognized to SoPL - - - - (669,080) (479,610)
Interest Cost on DBO 3,204,207 555,386 326,167 3,110,000 545,000 305,000
Total 7,645,638 1,049,576 586,129 7,887,640 421,350 161,390
8.2.3 Defined Benefit Plan LiabilitiesNRs.
PARTICULARS 32.03.2075
(16.07.2018)
31.03.2074(15.07.2017)
RESTATED
01.04.2073 (16.07.2016)
RESTATED
Leave Benefits (Note 8.2.3.2) 11,771,476 11,196,674 10,742,770
Gratuity Benefit (Note 8.2.3.1) 44,842,809 42,758,996 39,094,820
Total 56,614,285 53,955,670 49,837,590
8.2.3.1 GratuityNRs.
PARTICULARS32.03.2075
(16.07.2018)
31.03.2074(15.07.2017)
RESTATED
01.04.2073 (16.07.2016)
RESTATED
Opening Balance of Defined Benefit Obligation (DBO) 42,758,996 39,094,820 26,882,210
Current Service Cost 4,441,431 4,777,640 3,497,610
Interest Charge (unwinding interest) 3,204,207 3,110,000 2,144,000
Less: Gratuity Paid during the year - (352,184) -
Closing Liability 50,404,634 46,630,276 32,523,820
Actuarial (Gain)/Loss – OCI (5,561,825) (3,871,280) 6,571,000
Assessed Liability (actuarial assessment) 44,842,809 42,758,996 39,094,820
Defined Benefit Plan – AssetsNRs.
PARTICULARS32.03.2075
(16.07.2018)
31.03.2074(15.07.2017)
RESTATED
01.04.2073 (16.07.2016)
RESTATED
Opening Assets - - -
(+) Estimated Investment Returns for the year - - -
(+) Additional Investment during the year - - -
(-) Withdrawal (pay-outs during the year) - - -
Closing Assets - - -
Net Defined Benefit Plan Liability 44,842,809 39,094820 3,909,482
Net Charge 2,083,813 5,641,610 5,641,610
Net Charge – SoPL (2,083,813) (5,641,610) (5,641,610)
Net Charge (Debit) – SoCE - - -
53
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
8.2.3.2 Leave Encashment
PARTICULARS32.03.2075 (16.07.2018) 31.03.2074 (15.07.2017)
ANNUAL LEAVE
SICK LEAVE
TOTALANNUAL
LEAVESICK
LEAVETOTAL
Opening Balance of DefinedBenefit Obligation
3,935,847 7,260,826 11,196,673 3,854,250 6,888,520 10,742,770
Current Service Cost 259,962 494,190 754,152 336,000 545,430 881,430
Interest Charge (unwinding interest)
326,167 555,386 881,553 305,000 545,000 850,000
Less: Paid during the year - - - (79,792) (49,044) (128,836)
Less: Immediate Recognitionto SoPL
- - - (479,610) (669,080) (1,148,690)
Closing Liability 4,521,976 8,310,402 12,832,378 3,935,845 7,260,826 11,196,674
Actuarial (Gain)/Loss – OCI (373,426) (687,476) (1,060,901) - - -
Assessed Liability (actuarial assessment)
4,148,550 7,622,926 11,771,476 3,935,845 7,260,826 11,196,674
Defined Benefit Plan – AssetsNRs.
PARTICULARS32.03.2075
(16.07.2018)
31.03.2074(15.07.2017)
RESTATED
01.04.2073 (16.07.2016)
RESTATED
Opening Assets - - -
(+) Estimated Investment Returns for the year
- - -
(+) Additional Investment during the year
- - -
(-) Withdrawal (pay-outs during the year)
- - -
Closing Assets - - -
Net Defined Benefit Plan Liability 11,771,476 11,196,673 7,456,600
Net Charge 574,803 582,740 1,118,170
Net Charge – SoPL (574,803) (582,740) (1,118,170)
Net Charge (Debit) – SoCE - - -
8.2.3.3 Sensitivity Analysis A. Effect on Defined Benefit Obligation due to change in
Discount RateB. Discount Rate Applied as at 32.03.2075 (16 July 2018) = 8%
CHANGE IN DISCOUNT RATE
AMOUNT (NRS.)
GRATUITYSICK
LEAVEANNUAL
LEAVETOTAL
1% increase (5,781,815) (569,192) (719,357) (7,066,306)1% decrease 6,846,206 675,183 849,015 8,365,551
C. Effect on Defined Benefit Obligation due to change in Salary Escalation Rate Salary Escalation rate applied as at 31.03.2074 (15 July 2017)= 10%
CHANGE IN SALARY ESCALATION RATE
AMOUNT (NRS.)
GRATUITYSICK
LEAVEANNUAL
LEAVETOTAL
1% increase 6,647,207 886,120 594,814 8,128,141
1% decrease (5,734,437) (765,665) (513,184) (7,013,285)
8.2.3.4 Principal actuarial assumptionsPARTICULARS BASIS
Financial Assumptions
Discount Rate 8%
Mortality RateIndian Assured Lives Mortality
(2006-08) (modified) Ult.
Salary escalation (including inflation) 10%
Withdrawal Rate 1%
Investments of Plan Assets 0% of the fund
Interest bearing term deposits with the bank 0%
8.3 OTHERSStaff Loan facilitiesThe loan facilities are provided from a “Welfare Fund” which is independent of the Company.
Staff Bonus (Statutory)Staff is provided annual bonus under the provision of the Electricity Act and Rules 2049 (at the rate of 2% of Profit Before Income Tax and after Bonus ). Provision is created as per annual profit and paid in the subsequent period as per the provisions of Bonus Act 2030. Unspent amounts are transferred to Welfare Funds as per the provisions of Bonus Act 2030.
54
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
PARTICULARS FY 2074/075
(2017/018) FY 2073/074
2016/017FY 2072/073
2015/016
Employee Bonus 18,753,273 18,889,842 19,263,846
CES Co. Ltd. 406,791 - -
Total 19,160,064 18,889,842 19,263,846
9. Income TaxThe Company has adopted the policy of accounting and reporting tax related elements of Financial Statements in accordance with NAS 12 and it represents current tax and deferred tax for the year.
9.1 CURRENT TAXCurrent tax payable (or recoverable) is based on the taxable profit for the year. Taxable profit differs from the profit reported in the Statement of Profit or Loss, because some item of income or expense are taxable or deductible in different years or may never be taxable or deductible.
CJCL has been granted a 15 year tax holiday starting from the date of generating electricity for commercial purpose i.e. 08 Bhadra 2060 (25 August 2003) by the tax authorities under Income Tax Act, 2058. The Company has provided for income tax liability pertaining to income other than income from sale of electricity in accordance with the Income Tax Act, 2058 enacted and as applicable in Nepal.
a. a. NRs. 18,814,163 has been provided for as income tax liability for the current financial year by way of self-assessment as per the Income Tax Act, 2058. The total amount of Current Tax incudes NRs 18,000,793 of CJCL and 813,370 of Chilime Engineering & Services Co. Ltd. CJCL has been paid NRs. 7,300,000 as installment tax during the year. NRs. 10,458,535 has been claimed as advance tax on bank interest income and Lease Income during the year. Total of installment tax paid and advance taxes are included in the total advance tax balance of NRs 17,758,535 as at the year end. During this year a sum of NRs. 43,530,668 has been paid against the tax assessment by LTPO for the FY 2069/070 (2012/013). Similarly, LTPO has amended the self-assessment of tax for the FY 2070/071 (2013/14) and determined NRs. 64,698,510 as due to be paid. However the company has already paid NRs. 34,410,830 on account of the Income Tax for the same period and informed the LTPO accordingly but the LTPO has not incorporated this sum at the time of assessment.
The Company was not satisfied with the calculation procedure of Income Tax by LTPO so the company has submitted relevant document along with application for Administrative Review to Inland Revenue Department, Lazimpat for the FY 2068/069 (2011/012) and 2070/71 (2013/014). IRD has not made any decision regarding this issue till date.
b. Details regarding Income Tax Assessments are disclosed in Note 20.1.1
c. c. LTPO has reassessed and determined NRs 12,950,121 as an Income Tax of Fiscal Year 2060/061 and 2061/062 which is settled out of advance for appeal and advance tax of NRs. 34,667,530.60. Remaining amount of NRs 21,717,409.60 is carried for subsequent years.
9.2 DEFERRED TAXDeferred Tax is the tax expected to be payable or recoverable in future arising from: a. Temporary differences between the carrying amounts of
assets and liabilities in the financial statements and the corresponding tax bases used in computation of taxable profit,
b. Unused tax losses and/or c. Unused tax credits.
Deferred Tax is computed using SFP method. Deferred Tax Liabilities are generally recognized for all taxable temporary differences and Deferred Tax Assets recognized to the extent that is probable that taxable profit will be available against which Deferred Tax Assets can be utilized.
The tax rate used for deferred tax is the rate that has been enacted as on 32 Asadh 2075 (which is 20% for CJCL and 25% for CHEsco)
The details of deferred tax related elements of financial statements are as given below:
55
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
PARTICULARS FY 2074/075 (2017/018)FY 2073/074
2017/018Temporary Difference 613,232,872 616,922,093
Tax Rate 20% 20%
Closing Deferred Tax (Assets)/ Liabilities (CJCL) 122,646,574 123,384,419
Temporary Difference (CHEsco) 978,191 (4,428,906)
Tax Rate 25% 25%
Closing Deferred Tax (Assets)/ Liabilities (CHEsco) 244,548 (1,107,227)
Closing Deferred Tax (Assets)/ Liabilities Group 122,891,122 122,277,192
Less: Opening Deferred Tax (Assets) / Liabilities Group 122,277,192 123,041,763
Deferred Tax Expense / (Income) 613,930 (764,571)
To SoPL (710,615) (1,538,828)
To OCI 1,324,545 774,256
NRs.
PARTICULARSCARRYING VALUE
(A)TAX BASE
( B)TEMPORARYDIFFERENCE
REMARKS
Assets: PPE 1,631,502,166 961,655,009 669,847,157 A-B
Liabilities: Defined Benefit Obligation 56,614,285 - (56,614,285) B-A
Temporary Difference (CJCL) 1,688,116,451 961,655,009 613,232,872
Assets: PPE (CHEsco) 11,920,738 10,942,547 978,191 A-B
Temporary Difference (CHEsco) 11,920,738 10,942,547 978,191
FY 2016/17
Assets: PPE (CJCL) 1,610,121,020 939,243,257 670,877,763 A-B
Liabilities: Defined Benefit Obligation (CJCL) 53,955,670 - (53,955,670) B-A
Temporary Difference (CJCL) 1,664,076,690 939,243,257 616,922,093
Assets: PPE (CHEsco) 999,207 1,074,999 (75,792) A-B
Loss (CHEsco) - (4,353,114.0) (4,353,114) A-B
Temporary Difference (CHEsco) 999,207 (3,278,115) (4,428,906)
10. ProvisionsWhen the Group has a present obligation (legal or constructive) as a result of a past event, provisions are recognized only if it is probable that a transfer of economic benefits will be required to settle the obligation and a reliable estimate of the amount of obligation can be made.
NRs.
PARTICULARS32.03.2075
(16.07.2018)
31.03.2074(15.07.2017)
RESTATED
01.04.2073 (16.07.2016)
RESTATED
Current Tax Liability 18,000,793 10,898,992 19,465,394
Employee Welfare 3,486,981 5,612,883 4,204,726
Employee Bonus 18,753,273 18,889,842 19,263,846
Total 40,241,047 35,401,717 42,933,966
Relating to Subsidiaries
Sanjen Jalviduit Co. Ltd. 2,143,077 2,129,743 1,456,683
Madhya Bhotekoshi Jalviduit Co. Ltd. 918,338 949,44 591,055
Rasuwagadhi Hydropower Co. Ltd. 12,313,441 14,364,795 91,207,383
Chilime Engineering & Services Co. Ltd. 1,220,160 - -
Sub-Total 16,595,016 17443992 93,255,121
Grand-Total 56,836,063 52,845,709 136,189,087
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Chilime Jalavidhyut Company Limited
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11. Revenue from Sale of ElectricityRevenue from sale of electricity is recognized at the time of issuing invoice to Nepal Electricity Authority (NEA) as per the Power Purchase Agreement (PPA) dated 11 Ashadh 2054 held in between Nepal Electricity Authority and the Company.
The details of revenue from sale of electricity is as follows:NRs.
ENERGY SALE AND PURCHASE
FY2074/075(2017/18)
FY2073/074(2016/17)
ELECTRICITYSALE IN
UNITS
RATE PER UNIT
REVENUEELECTRICITY
SALE IN UNITS
RATE PER UNIT
REVENUE
Energy Sale
Regular Energy 130,807,007 8.17 1,068,693,250 132,758,000 8.17 1,084,632,860
Excess Energy 17,093,042 4.08 69,739,614 27,513,942 4.08 112,256,884
Net Sale of Electricity 147,900,049 1,138,432,864 160,271,942 - 1,196,889,744
12. Hydroelectric Plant Operating ExpenseNRs.
PARTICULARSFY2074/075
(2017/18)2073/074 (2016/17)
Current Employees Benefits (8.1) 41,349,695 39,081,449
Defined Contribution Cost (Note: 8.2.1) 2,143,159 2,014,250
Employee Welfare 737,432 687,075
Fuel – Generation 119,850 160,178
Mobile – Generation 49,962 57,616
Other Tools 69,947 60,716
Electricity 22,680 24,732
Consultancy Service - 90,400
Repair and Maintenance - -
Other Repairs 257,574 194,631
Machine and Equipment Repairs 21,088,301 37,941,711
Transmission Line Repairs 1,100,344 736,000
Distribution Line Repairs 692,695 910,700
Repair and Maintenance-Transformer - 494,775
Fuel – Vehicles 1,266,146 1,316,002
Mobile – Vehicles 166,942 293,524
Repairs – Vehicles 2,311,588 1,484,541
Repairs – Civil 11,802,006 7,194,012
Street Light 257,687 819,124
Insurance 3,980,998 4,892,633
License Fee/ Registration and Renewal 456,442 399,130
Telephone 604,991 556,287
Transportation 79,100 18,880
Training 2,280,218 1,187,700
Printing and Stationery 427,886 484,949
Magazine and Newspaper - 15,024
Financial Assistance - 8,000
Advertisement 198,569 412,949
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Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
PARTICULARSFY2074/075
(2017/18)2073/074 (2016/17)
Annual General Meeting and Functions 679,947 686,907
Guest Entertainment 429,521 295,685
Refreshments 215,485 57,800
Prizes 60,000 -
Other Expenses 156,135 139,789
Royalty (Refer to 12.1 ) 24,978,601 26,147,795
Travel 1,291,200 992,497
Meeting Allowances 321,500 326,000
Bank Charges and Commission 4,375 3,834
Community and Local Development 5,733,155 284,634
Store Written Off - 1,335,933
Total CJCL 125,334,131 131,807,862
Chilime Engineering & Services Co. Ltd. 26,316,207 2,272,933
Total 151,650,338 134,080,795
12.1 RoyaltyThe Company has paid royalty to Government of Nepal as per the provisions of Electricity Act and Regulation as follows.
NRs.
ROYALTY BASED ON RATE31.03.2074
(15.07.2017)31.03.2073
(15.07.2016)Installed Capacity = 22.1 MW
NRs.100 per KW 2,210,000 2,210,000
Revenue from Sale of Electricity
2 % of net Revenue
22,768,601 23,937,795
Total Royalty 24,978,601 26,147,795
Calculation of royalty is based on sale of electricity after deducting the units of electricity used internally for operation of power house.
The Company has been generating electricity for commercial sale since 08 Bhadra 2060 (25 August 2003). After 07 Bhadra 2075 (23 August 2018), the rate of royalty expense is going to increase from 2% to 10%.
ROYALTY BASED ON RATE
Installed Capacity (22.1 MW) NRs.1,000 per KW
Revenue from Sale of Electricity 10 % of net Revenue
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13. Administrative ExpenseNRs.
PARTICULARS FY2074/075
(2017/18) FY2073/074
(2016/17)Relating to CJCLCurrent Service Cost 15,172,131 16,925,190
Defined Benefit Cost
Leave Encashment 1,635,705 582,740
Gratuity 7,645,638 7,887,640
Employee Welfare 3,673,255 5,734,862Defined Contribution Cost 645,920 570,652Other Services 634,560 846,080
Water and Electricity 180,307 189,670
Consultancy Service 531,834 969,765Other Repairs 32,298 7,910Fuel – Vehicles 709,910 709,239
Mobile and Lubricants 72,156 59,685
Repair – Vehicles 480,533 591,364
Repairs – Civil 35,347 37,319
Insurance 227,972 221,768
License Fee 7,332,155 221,350
Postage and Courier 500 2,500
Telephone 259,733 266,766
Corporate Development Expense 5,748,071 -
Training 267,283 693,990
Legal Expenses 45792 324,300
Other Business Expense 1,564,166 1,549,670
Printing and Stationery 414,951 535,289
Magazine and Newspaper 53,600 81,400
Advertisement 524,350 1,584,650
Annual Functions and Workshop 1,006,041 1,521,796
Guest Entertainment 190,632 252,729
Other Expenses 215,367 361,475
Meeting Allowance 1,306,000 2,505,002
Meeting Management Expense 183,150 233,451
Travel 135,225 448,745
Bank Charges and Commission 2,262 4,491
Share Registrar Related Expense 4,196,286 5,190,272
Director Allowance 675,000 650,000
Audit Fee 521,156 532,230
Audit Expense 117,282 142,354
Recruitment Expense 2,370,038 568,891
Receivable Adjustment - 19,933,200
Loss on Exchange - 324,064
Financial Assistance, Donation and Prizes 108,000 148,000
Corporate Social Responsibility 120,000 120,000
Total CJCL 59,034,606 73,530,499
PARTICULARS FY2074/075
(2017/18) FY2073/074
(2016/17)
Relating to Subsidiaries
Sanjen Jalavidhyut Co. Ltd. 34,512,109 36,027,926
Madhya Bhotekoshi Jalavidhyut Co. Ltd. 32,691,515 26,497,730
Rasuwagadhi Hydropower Co. Ltd. 41,491,569 33,145,671
Chilime Engineering and Services Co. Ltd. 9,711,312 3,000,378
Total 177,441,111 172,202,204
14. Finance IncomeFinance Income comprises of the interest income received or receivable from bank(s) on term deposits. Difference between what has been received and the total amount to be received is shown as receivables. The details of interest income is as below:
NRs.
PARTICULARSFY2074/075
(2017/18) FY2073/074
(2016/17)
Chilime Jalavidhyut Company Ltd.
68,444,188 39,349,972
Relating to Subsidiaries
Sanjen Jalavidhyut Co. Ltd. 19,230,946 8,807,301
Madhya Bhotekoshi Jalavidhyut Co. Ltd.
12,907,781 6,908,087
Rasuwagadhi Hydropower Co. Ltd.
39,838,395 6,118,110
Chilime Engineering and Services Co. Ltd.
1,082,414 371,683
Total 141,503,724 61,555,153
15. Other Income The details of other income are presented as below, which comprise of lease rentals, income from sale of tender forms, foreign exchange gain etc.
NRs.
PARTICULARSFY2074/075
(2017/18) FY2073/074
(2016/17)
Land Lease 1,724,869 1,478,923
Other Income 1,834,114 2,767,073
Relating to Subsidiaries
Sanjen Jalavidhyut Co. Ltd. 11,843,106 (12,107,667)
Madhya Bhotekoshi Jalavidhyut Co. Ltd.
5,170,370 158,520
Rasuwagadhi Hydropower Co. Ltd.
(8,087,989) 2,318,006
Chilime Engineering and Services Co. Ltd.
45,272,133 430,000
Total 57,756,603 (4,955,145)
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Annual Report FY 2074/075 (2017/2018)
SJCL has made overhead payment to NEA for deputed Staff for the FY 74/75 amounting to NRs. 4,303,998 and NRs. 180,000 against the use of NEA Server.
17.2 PARENT AND SUBSIDIARIESCJCL has made investments in three other hydropower companies and a company that provides engineering services. As CJCL has control over these entities, these companies are considered to be related parties to CJCL. (Refer Note 2 for details about the investments). CJCL has leased some unused land and building to these companies. The terms and conditions of the lease agreement with associates were no more favorable than those available, or which might reasonably be expected to be available, on similar transactions to non-related entities on an arm’s length basis.
NAME OF THE ASSOCIATE
NATURE OF TRANSACTION
TRANSACTION AMOUNT
GROSS RECEIPT (PAYMENTS)
Sanjen Hydropower Co. Ltd
Investment 1,436,644,900 1,436,644,900
Lease 1,024,868 1,024,868
Madhya Bhotekoshi Hydropower Co. Ltd
Investment 2,220,000,000 2,220,000,000
Lease 2,243,731,000 2,243,731,000
Rasuwagadhi Hydropower Co. Ltd
Investment 500,000 500,000
Chilime Engineering and Services Co. Ltd.
Investment 24,126,583 24,126,583
Consultancy Services
9,225,365 8,694,702
CJCL has provided corporate guarantee totaling NRs. 16,605,350,000 to Employee’s Provident Fund on behalf of its subsidiaries against Tripartite Loan Agreement with EPF, and NRs. 1,034,820,993 (USD 9,641,488.8 @ 107.33 as on reporting date) to Himalayan Bank Limited. Details of these transactions are provided in Note 20.1.2 and 20.1.3.
16. Earnings Per Share (EPS)Earnings per share has been disclosed on the face of ‘Statement of Profit or Loss and Other Comprehensive Income’ in accordance with the NAS 33.
Distribution of Bonus Share impacts calculation of EPS and the prior year has also been adjustment under requirements of NAS 33. With bonus share issued this year on the basis of results up to prior year. The issue of bonus shares was approved by the AGM for FY 2074/75.
NRs.
PARTICULARS FY2074/075
(2017/18) 2073/074 (2016/17)
Net Profit for the Year 895,036,965 836,032,973
Weighted Average Number of Share
39,651,131 34,479,244
Basic EPS Reported 22.25 27.09
Basic EPS Restated NA *21.08
* Restated after capitalization of Bonus Share.
The Company has not issued any dilutive potential ordinary share and accordingly diluted earnings per share has not been calculated.
17. Related PartiesThe Group identifies the following as its related parties:
17.1 PARENTNepal Electricity Authority (NEA), the parent, holds 51% shares of CJCL. Entire energy generated by CJCL is sold to the Parent as per the rate agreed in the Power Purchase Agreement (PPA). All sales of NRs. 1,138,432,864 was made to NEA. Trade receivable balance of NRs 129,460,545 is receivable from NEA. In addition, there is a land lease agreement with NEA. As per this agreement NEA has agreed to pay 40,000 per month as lease payment. CJCL has made overhead payment to NEA for deputed staff for the FY 74/075 amounting to NRs. 1,564,166 and NRs. 180,000 against the use of NEA Server.
Calculation of Weighted Average Number of Shares
SHARES/ BONUS SHARE
NUMBER OF SHARES INCLUDING BONUS SHARE31.03.2074 (15.07.2017) 31.03.2073 (15.07.2016)
NUMBER WEIGHTWEIGHTED
AVERAGENUMBER WEIGHT
WEIGHTED AVERAGE
Opening including Bonus Share
34,479,244 1 34,479,244 31,344,768 1 31,344,768
Distribution of Bonus Shares – 2073/74
- - - 3,134,476 1 3,134,476
Distribution of Bonus Shares – 2074/75
5,171,887 1 5,171,887 - - -
Weighted Average Number of shares 39,651,131 - 39,651,131 34,479,244 - 34,479,244
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17.3 DIRECTORS AND THEIR RELATIVESCJCL has a Nine (9) member Board of Directors (BoD) appointed under the provisions of Companies Act 2063. Except for the following transactions, CJCL has not conducted any other transaction with directors or their relatives during the financial year.
NRs
NAME ROLEMEETING
ALLOWANCEOTHER
ALLOWANCETOTAL
Mr. Kul Man Ghising Chairman,NEA 63,000 75,000 138,000
Mr. Lekhanath Koirala Member, NEA 126,000 75,000 201,000
Mr. Shanti Laxmi Shakya Member, NEA 147,000 75,000 222,000
Mr. Hara Raj Neupane Member, NEA 78,000 75,000 153,000
Mr. Manoj Silwal Member, NEA 52,000 75,000 127,000
Mr. Tulasi Ram Dhakal Member, Public 132,000 75,000 207,000
Mr. Ram Prasad Rimal Member, Public 84,000 75,000 159,000
Mr. Parsado Tamang Member, Public 63,000 75,000 138,000
Mr. Bhim Prasad Timalsina Member, Public 99,000 75,000 174,000
Total 794,000 675,000 14,69,000
SJCL’S BOARD OF DIRECTORSDirector’s sitting fee for FY 74/75 was NRs. 1,424,000.
2017-18 ROLE
Manoj Silwal Chairman,NEA
Lokhari Luitel Member, NEA
Damodar Bhakta Shrestha Member, CJCL
Parsado Tamang Member, CJCL
Narayan Prasad Acharya Member, CJCL
Rajaram Shrestha Member, EPF
MBJCL’S BOARD OF DIRECTORS NRS
NAME ROLE MEETING ALLOWANCE OTHER COMPENSATION
Mr. Hara Raj Neupane BoD Chairman 95,000 30,000
Mr. Lekhanath Koirala BoD Member 153,000 30,000
Mr. Tulasi Ram Dhakal BoD Member 194,000 30,000
Mr. Braj Bhushan Choudhary BoD Member 50,000 10,000
Mr. Damodar Bhakta Shrestha BoD Member 130,000 30,000
Mr. Naresh Lal Shrestha BoD Member 50,000 15,000
Mr. Birendra Mohan Bhattarai BoD Member 101,000 17,500
Mr. Bharat Raj Wasti BoD Member 15,000 7,500
Mr. Om Krishna Shrestha BoD Member 44,000 5,000
Mr. Yubraj Dulal BoD Member 58,000 15,000
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RGHPCL’S BOARD OF DIRECTORS
NAME ROLE MEETING ALLOWANCE OTHER COMPENSATION
Mr. Jadishshwor Man Sing BoD Chairman 114,000 30,000
Mr. Prabal Adhikari BoD Member 162,000 30,000
Mr. Ram Prasad Rimal BoD Member 324,000 30,000
Mr. Bhim Prasad Timilsina BoD Member 216,000 30,000
Mr. Damodar Bhakta Shrestha BoD Member 276,000 -
Mr. Rochan Shrestha BoD Member 6,000 -
Mr. Bishnu Prasad Poudel BoD Member 120,000 6,250
Mr. Jeevan Katuwal BoD Member 12,000 3,750
Mr. Madhav Prasad Koirala BoD Member 9,000 -
CHESCO’S BOARD OF DIRECTORS
NAME DESIGNATION MEETING ALLOWANCE
OTHER ALLOWANCE TOTAL
Mr. Damodar Bhakta Shrestha Chairman 60,000 30,000 90,000
Mr. Narayan Prasad Acharya Member 60,000 30,000 90,000
Dr. Prashant Mandal Member 54,000 30,000 84,000
17.4 KEY MANAGEMENT PERSONNEL AND THEIR RELATIVESCJCL considers its Chief Executive Officer (CEO), Accounts Chief (AC) and Plant Manager (PM) to be Key Management Personnel. The Company has not conducted any transaction (other than payment of employee benefits) with the Key Management Personnel or their relatives during the year.
17.4.1 KEY MANAGEMENT PERSONNEL COMPENSATION
NAME OF PERSONNEL ROLEPAYMENTS OF EMPLOYEE BENEFITS
SHARE BASED PAYMENTSSHORT TERM
POST-EMPLOYMENT
TERMINATIONOTHER
LONG TERMMr. Damodar Bhakta Shrestha CEO 2,352,009 - - - -
Dr. Prashant Mandal DM *518,659 - - - -
Mr. Narayan Prasad Acharya CFO 1,418,937 - - - -
Mr. Bijay Sen Khadka PM 1,612,757 - - - -
* Five Months’ remuneration
SJCL’S KEY MANAGEMENT PERSONNELKey Management Personnel were provided with remuneration of NRs. 8,887,052 for the FY 2074/75.
NAME OF PERSONNEL ROLE
Kiran Kumar Shrestha CEO
Ganesh KC Project Chief
Sudhan Singh Mahat Project Chief
Prajesh B Thapa Sr. Contract Engineer
Sushant Bastola Company Secretary
Sushant Bastola Head Finance
MBJCL’S KEY MANAGEMENT PERSONNEL
NAME POSITION TOTAL SALARY PAID
Mr. Mani Kumar Kafle CEO 2,478,186.00
Dr. Sunil Kumar Lama Project Manager 2,054,778.00
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RGHPCL’S KEY MANAGEMENT PERSONNEL
NAME OF PERSONNEL ROLEPAYMENTS OF EMPLOYEE BENEFITS
SHARE BASED PAYMENTSSHORT TERM
POST-EMPLOYMENT
TERMINATIONOTHER
LONG TERMMr.Madhav Prasad Koirala CEO 2,774,644 - - - -
Mr. Chhabi Lal Gaire DM 2,177,450 - - - -
Mr. Dharma Raj Sharma CFO 1,293,450 - - - -
CHESCO’S KEY MANAGEMENT PERSONNEL
NAME DESIGNATION TERM/PERIOD BENEFITS NRS.
Prashant Mandal Managing Director 7 Months 976,983
Prajesh Bikram Thapa Chief Executive Officer 5 Months 875,000
17.5 EMPLOYEE RETIREMENT BENEFIT PLANSCJCL considers a retirement benefit plan to be a related party if the entity is a post-employment defined benefit plan for the benefit of employees of either the CJCL or an entity related to CJCL. As CJCL has not made any investments with respect to the liability on account of DBO, it does not have any related party with regards to Defined Benefit Plan.
17.6 PENDING DIVIDENDThis Company has continuously been distributing dividend since 2060.061 till date. Previously Citizen Investment Trust (CIT) was appointed as a Share Registrar and distribution of Cash Dividend and Bonus Share was performed by CIT. Now the same job is being done by Siddhartha Capital Limited. According to the given information by Share Registrar there is pending Cash Dividend of NRs. 152,495,378.45.
17.7 OTHER MATTERSCJCL has not entered into any related party transaction except those mentioned above.
18. Operating SegmentNFRS 8 Operating Segments requires particular classes of entities (essentially those with publicly traded securities) to disclose information about their operating segments, products and services, the geographical areas in which they operate, and their major customers.
The Company has only one reportable operating segment (both in terms of geography and products) and therefore, identification, classification and disclosure of separate reportable operating segments in accordance with NFRS 8 is not disclosed separately.
19. Interim ReportsInterim reports have been publicly reported in accordance with the requirement of Securities Board of Nepal (SEBON) and Nepal Stock Exchange Ltd. (NEPSE). These requirements are materially aligned with the requirements of NAS 34.
20. Contingent Liabilities and Commitments20.1 CONTINGENT LIABILITIES A contingent liability is identified as follows: (a) a possible obligation that arises from past events
and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity; or
(b) a present obligation that arises from past events but is not recognized because:
(i) it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation; or
(ii) the amount of the obligation cannot be measured with sufficient reliability.
CJCL discloses contingent liabilities unless the possibility of an outflow of resources embodying economic benefits is remote. Following are details of contingent liabilities which has the possibility of outflow of resources:
20.1.1 INCOME TAX ASSESSMENTBackgroundClause 12 (3) of Electricity Act 2049 provides exemption from income tax to entities that have been granted permission for the production, transmission or distribution of hydroelectricity. Such exemption is applicable for a period of fifteen years from the date of commercial production, transmission or distribution. The Company had obtained an Advanced Ruling (Purba-adesh) from the Inland Revenue Department (IRD) on 28 Asoj 2061 (14 October 2004) confirming that it will be eligible for this exemption.
The Company interpreted this clause to mean all of its income would be exempt from income tax. Accordingly, the Company did not make provision for, or pay, income tax on all income earned except for the tax that had already been deducted at source by third parties. The self-assessment tax returns were prepared by the Company and submitted
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to the Large Taxpayer Office (LTO) of the IRD based on this interpretation. However, on subsequent tax assessments conducted by the LTO, it contended that the tax exemption is only applicable to income generated from sale of electricity and not to other sources of income. The status of these amended tax assessments for the various past financial years is described below.
Financial Year 2060/61 and 2061/062 (2003/2004 & 2004 /2005)On 30 Asoj 2065 the LTO had assessed the total amount of tax, penalty and interest to be paid by the Company for this financial year at NRs. 107,946,371. The Company appealed against this assessment at the Revenue Tribunal. The Tribunal’s verdict was that the Company did not have to pay this amount as income on which LTO calculated this tax did not relate to the financial year 2060/61. The Company has been informed that the LTO has made an appeal against this decision. In the event that the decision on this appeal is issued in favor of LTO, the Company will have to pay this amount, plus annual interest for late payment at the applicable rates from the date of the assessment to the time of final payment.
On 31 Baisakh 2066, the LTO had assessed the total amount of tax and penalty to be paid by the Company for this financial year at NRs. 5,379,807. This amended assessment tax amount is adequately covered by the provision for income tax made in the previous year.
Now, The Large Tax Payer Office has settled the pending issue of income tax related to Fiscal Year 2060/61 and 2061/62. The previous calculation has been revised and determined NRs. 12,950,121 instead of 56,214,221 for these Fiscal Year. The rest amount NRs. 21,717,410 out of NRs. 34,667,530 has been transferred for next year.
Financial Years 2068/69 and 2069/70 & 2070/71 (2013-2014)The Company has filed for Administrative Review at the IRD in relation to the amended tax assessment for the year 2068/69 (2011.12) and 2070/071 (2013.14) as it does not agree with the basis of computation used by LTO. For this reason a provision for the differences between the LTO’s amended assessments and the Company’s self-assessments for these two financial years has not been made in the financial statements. The details are as follows:
YEARSELF -
ASSESSMENTLTPO’S
ASSESSMENTREMARKS
FY 2068/69
52,763,196 91,579,268
Appeal for administrative review made in FY 73/74 (self-assessment amount deposited on 2073 Jestha
10)
FY 2070/71
38,691,615 56,272,398
Appeal for administrative review made in FY 75/76
(self-assessment amount is the sum of NPR 11,775,013 + NRs. 26,916,602
deposited on 2073 Jestha 10)
The Company has fully settled the tax amount for the FY 2069/70 in FY 2074/75. The details are as follows:
DESCRIPTION AMOUNT
LTPO assessment 109,482,238
Company’s self-assessment 70,637,039
Difference between LTPO and the Company's assessment
38,845,199
Payments made by the Company
First payment (2073 Jestha 10) 34,410,829
Advance tax for FY 2069/70 36,226,210
Payment made by the Company prior to LTPO’s assessment
70,637,039
Second Payment (2074 Chaitra 29) post LTPO's assessment including interest
43,530,668
Total tax amount paid by the Company for FY 2069/70 including interest
114,167,707
Interest amount included in the second payment
4,685,469
20.1.2 CORPORATE GUARANTEESEmployee Provident FundCJCL has provided corporate guarantee to Employee Provident Fund against the loans provided to the Company’s subsidiaries for construction of the hydropower project. The amount outstanding at the end of FY 2074/75 (2017/18) and Fiscal Year 2073/074 (2016/017) is as follows.
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FISCAL YEAR 2074/075 (2017/018)NRs.
SN ASSOCIATES APPROVED LOANOUTSTANDING
PRINCIPAL INTEREST TOTAL1 Sanjen Jalavidhyut Company Ltd. 3,621,600,000 2,010,000,000 593,737,350 2,603,737,350
2 Madhya Bhotekoshi Jalavidhyut Company Ltd. 6,141,650,000 2,731,080,000 616,825,410 3,347,905,410
3 Rasuwagadhi Hydropower Company Ltd. 6,842,100,000 1,923,200,000 572,368,039 2,495,568,039
Total 16,605,350,000 6,664,280,000 1,782,930,799 8,447,210,799
FISCAL YEAR 2073/074 (2016/017)NRs.
SN ASSOCIATES APPROVED LOANOUTSTANDING
PRINCIPAL INTEREST TOTAL1 Sanjen Jalavidhyut Company Ltd. 3,621,600,000 2,010,000,000 58,478,900 2,068,478,900
2 Madhya Bhotekoshi Jalavidhyut Company Ltd. 6,141,650,000 1,681,080,000 298,939,554 1,980,019,554
3 Rasuwagadhi Hydropower Company Ltd. 6,842,100,000 120,000,000 346,184,985 1,546,184,985
Total 16,605,350,000 3,811,080,000 703,603,439 5,594,683,439
FISCAL YEAR 2072/073 (2015/016)NRs.
SN ASSOCIATES APPROVED LOANOUTSTANDING
PRINCIPAL INTEREST TOTAL1 Sanjen Jalavidhyut Company Ltd. 3,621,600,000 1,010,000,000 153,658,910 1,163,685,910
2 Madhya Bhotekoshi Jalavidhyut Company Ltd. 6,141,650,000 460,000,000 199,553,027 659,553,027
3 Rasuwagadhi Hydropower Company Ltd. 6,842,100,000 520,000,000 227,151,334 747,151,334
Total 16,605,350,000 1,990,000,000 580,363,271 2,570,390,271
All of the items of Property, Plant and Equipment of the Company at project site of respective Hydroelectric Projects have been mortgaged as a secured against these guarantees.
Himalayan Bank LimitedCJCL has given the corporate guarantee to Himalayan Bank Ltd. against Letter of Credit facility to Sanjen Jalavidhyut Company Ltd. amounting to NRs 1,034,820,993 (USD 9,641,488.8 @ 107.33 as on reporting date).
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Abridge Finincial Statements of Chillime Jalavidhyut Company Limited
(Individual) for Fiscal Year 2074/2075 (2017/2018)
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Annual Report FY 2074/075 (2017/2018)
68
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
Statement of Financial PositionAs at 32 Asadh 2075 (16 July 2018)
NRs.
ASSETS NOTES FY 32.03.2075
(16.07.2018) FY 31.03.2074
(15.07.2017) Non Current Assets
Property, Plant and Equipment 1 1,884,526,148 1,926,953,928
Capital Work in Progress 1 61,236,954 5,593,702
Investment in Subsidiaries 2 5,924,502,483 5,745,266,088
Total Non Current Assets 7,870,265,585 7,677,813,718
Current Assets
Inventory 3 161,887,491 175,415,825
Prepayments 4 1,830,547 2,231,333
Advances, Deposits and Other Receivables 5.1.1 67,508,786 112,882,154
Trade Receivables 5.1.2 129,460,545 122,069,450
Investment in Term Deposits 5.1.3 760,774,120 380,139,080
Cash and Cash Equivalents 5.1.4 166,322,521 153,851,185
Total Current Assets 1,287,784,010 946,589,027
Total Assets 9,158,049,596 8,624,402,745
Equity and Liabilities
Equity
Share Capital 6 3,965,113,152 3,447,924,480
Retained Earnings 7 4,958,306,563 4,906,214,375
Total Equity 8,923,419,715 8,354,138,855
Non Current Liabilities
Defined Benefit Obligation 8.2.3 56,614,285 53,955,670
Deferred Tax Liabilities 9 122,646,574 123,384,419
Total Non Current Liabilities 179,260,859 177,340,089
Current Liabilities
Provisions 10 40,241,046 35,401,716
Trade and Other Payables 5.2.1 15,127,975 57,522,085
Total Current Liabilities 55,369,021 92,923,801
Total Equity and Liabilities 9,158,049,596 8,624,402,745
Date: 2075/08/26 Place: Dhumbarahi-4, Kathmandu
___________________ Hara Raj Neupane
Member
________________ Manoj Silwal
Member
_______________________ Narayan Prasad Acharya
Chief Finance Officer
___________________ Shanti Laxmi Shakya
Member
___________________ Lekhanath Koirala
Member
___________________ Tulasi Ram Dhakal
Member
__________________ Ram Prasad Rimal
Member
_______________________ Madhav Prasad Koirala Chief Executive Officer
___________________ Kul Man Ghising
Chairman
______________________ Bhim Prasad Timalsina
Member
____________________ Parsado Tamang
Member
___________________ Pratap P. Pradhan
PrincipalPP Pradhan & Co.
Chartered Accountants
As per our report of even date
69
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
Statement of Profit or Loss and Other Comprehensive IncomeFor the year ended 32 Asadh 2075 (16 July 2018)
Date: 2075/08/26 Place: Dhumbarahi-4, Kathmandu
___________________ Hara Raj Neupane
Member
________________ Manoj Silwal
Member
_______________________ Narayan Prasad Acharya
Chief Finance Officer
___________________ Shanti Laxmi Shakya
Member
___________________ Lekhanath Koirala
Member
___________________ Tulasi Ram Dhakal
Member
__________________ Ram Prasad Rimal
Member
_______________________ Madhav Prasad Koirala Chief Executive Officer
___________________ Kul Man Ghising
Chairman
______________________ Bhim Prasad Timalsina
Member
____________________ Parsado Tamang
Member
___________________ Pratap P. Pradhan
PrincipalPP Pradhan & Co.
Chartered Accountants
NRs.
PARTICULARS NOTESFY 2074/075
(2017/018) FY 2073/074
(2016/017)Income
Revenue from Sale of Electricity 11 1,138,432,864 1,196,889,744
Expenses
Hydro Electric Plant Operating Expenses 12 (125,334,131) (131,807,862)
Administrative Expenses 13 (59,034,606) (73,530,499)
Depreciation 1 (69,650,373) (69,907,102)
Operating Profit/ (Loss) 884,413,753 921,644,281
Finance Income 14 68,444,188 39,349,972
Other Income 15 3,558,983 4,245,996
Assets Written Off 1 - (1,858,312)
Profit / (Loss) before Tax and Bonus 956,416,924 963,381,936
Employee Bonus (18,753,273) (18,889,842)
Profit/ (Loss) before Tax 937,663,651 944,492,095
Less: Tax
Current Tax (18,000,793) (10,898,992)
Priaor Period Tax (FY 2060.61 & 2061.62) (12,950,121) -
Deferred Tax Income (Expense) 9 2,062,390 431,600
Net Profit/ (Loss) for the Year 908,775,127 934,024,703
Earnings Per Share
Basic 16 22.92 27.09
Diluted 16 N/A * 23.56
Other Comprehensive Income:
Actuarial Gain (Loss) on remeasurement of defined benefit plans 6,622,726 3,871,280
Income Tax relating to items that will not be reclassified (1,324,545) (774,256)
Other Comprehensive Income for the Year 5,298,181 3,097,024
Total Profit / (Loss) and Other Comprehensive Income 914,073,308 937,121,726 As per our report of even date
70
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
Statement of Cash FlowsFor the year ended 32 Asadh 2075 (16 July 2018)
NRs.
PARTICULARS FY 2074/075
(2017/018)FY 2073/074
(2016/017)Cash Flow from Operating Activities
Profit before Interest and Tax 937,663,651 944,492,095
Adjustments
Depreciation 69,650,373 69,907,102
Income from Investment and Bank Deposit (68,444,188) (39,349,972)
Assets Written off - 1,858,312
Gain on Sale of Assets - (1,805,000)
Stock Written Off - 1,335,933
Employee Gratuity, Leave and Welfare Provisions 9,281,342 8,470,380
Bad Debt - 19,933,200
Employee Bonus in Statement of Profit and Loss 18,753,273 18,889,842
Movements in Working Capital
Decrease/(Increase) in Inventory 13,528,334 3,115,502
(Increase)/Decrease in Prepayments 400,786 160,467
(Increase)/Decrease in Advances, Deposits and Other Receivables 45,373,368 (47,764,307)
(Increase)/Decrease in Trade Receivables (7,391,095) (3,380,001)
(Increase)/Decrease in Term Investments (380,635,040) 19,860,920
Increase/(Decrease) in Provisions (18,675,014) (14,057,237)
Increase/(Decrease) in Current Liabilities (42,394,110) 3,019,821
Employee Bonus Paid (18,889,842) (19,263,846)
Gratuity and Leave Paid - (481,020)
Income Tax Paid (7,300,000) (4,000,000)
Total Adjustments (386,741,814) 16,450,096
Net Cash flow from Operating Activities (A) 550,921,837 960,942,190
Cash Flow from Investing Activities
Acquisition of Property, Plant and Equipment (27,222,594) (11,849,623)
Proceeds from Sale of Asset - 1,805,000
Decrease/ (Increase) in Capital Work in Progress (55,643,252) (5,593,702)
Decrease/ (Increase) in Investment (179,236,395) (757,034,388)
Income from Investment and Bank Deposit 68,444,188 39,349,972
Net Cash Flow from Investing Activities (B) (193,658,053) (733,322,741)
Cash Flow from Financing Activities
Dividend Paid (344,792,448) (313,447,680)
Net Cash Flow from Financing Activities ( C ) (344,792,448) (313,447,680)
Net Increase in Cash (A+B+C) 12,471,336 (85,828,230)
Cash at Beginning of the Year 153,851,185 239,679,417
Cash at the End of the Fiscal Year 166,322,521 153,851,187
As per our report of even date
71
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
Statement of Changes in Equity For the year ended 32 Asadh 2075 (16 July 2018)
Statement of Changes in Equity For the year ended 31 Asadh 2074 (15 July 2017)
NRs.
PARTICULARS SHARE CAPITAL RETAINED EARNING TOTAL
Opening Balance as on 1 Shrawan 2074 (16 July 2017) 3,447,924,480 4,906,214,375 8,354,138,855
Bonus Share for FY 2073/74 capitalized in FY 2074/75 517,188,672 (517,188,672) -
Dividend for FY 2073/74 paid in FY 2074/75 - (344,792,448) (344,792,448)
Net Profit after Tax - 914,073,308 914,073,308
Closing Balance as on 32 Asadh 2075 (16 July 2018) 3,965,113,152 4,958,306,563 8,923,419,715
NRs.
PARTICULARS SHARE CAPITAL RETAINED EARNING TOTAL
Opening Balance as on 1 Shrawan 2073 (17 July 2016) 3,134,476,800 4,595,988,009 7,730,464,809
Bonus Share for FY 2072/73 capitalized in FY 2073/74 313,447,680 (313,447,680) -
Dividend for FY 2072/73 paid in FY 2073/74 - (313,447,680) (313,447,680)
Net Profit after Tax - 937,121,726 937,121,726
Closing Balance as on 31 Asadh 2074 (15 July 2017) 3,447,924,480 4,906,214,375 8,354,138,855 As per our report of even date
Date: 2075/08/26 Place: Dhumbarahi-4, Kathmandu
___________________ Hara Raj Neupane
Member
________________ Manoj Silwal
Member
_______________________ Narayan Prasad Acharya
Chief Finance Officer
___________________ Shanti Laxmi Shakya
Member
___________________ Lekhanath Koirala
Member
___________________ Tulasi Ram Dhakal
Member
__________________ Ram Prasad Rimal
Member
_______________________ Madhav Prasad Koirala Chief Executive Officer
___________________ Kul Man Ghising
Chairman
______________________ Bhim Prasad Timalsina
Member
____________________ Parsado Tamang
Member
___________________ Pratap P. Pradhan
PrincipalPP Pradhan & Co.
Chartered Accountants
72
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
NRs.
S/N PARTICULARS32.03.2075
(16.07.2018)31.03.2074
(15.07.2017)1 Corporate Building Study 5,593,702 5,593,702
2 Budhigandaki Pork Hydroelectric Project (420 MW) 19,643,252 -
3 Budhigandaki Syar Hydroelectric Project (60 MW) 16,000,000 -
4 Seti Nadi Hydroelectic Project (165 MW) 20,000,000 -
Total 61,236,954 5,593,702
NRs.
S/N PARTICULARS32.03.2075
(16.07.2018)31.03.2074
(15.07.2017)Non Current Investments
1 Sanjen Hydropower Co.Ltd 1,436,644,900 1,436,644,900
2 Madhya Bhotekoshi Hydropower Co. Ltd 2,220,000,000 2,100,000,000
3 Rasuwagadhi Hydropower Co. Ltd 2,243,731,000 2,192,500,000
4 Chilime Engineering and Services Co.Ltd. 24,126,583 16,121,188
Total 5,924,502,483 5,745,266,088
NRs.
S/N PARTICULARS32.03.2075
(16.07.2018)31.03.2074
(15.07.2017)1 Miscellaneous Store-Central Office 14,888 29,268
2 Store, spare parts and loose tools 161,872,603 176,722,490
3 less: Written off - (1,335,933)
Total 161,887,491 175,415,825
NRs.
S/N PREPAYMENTS32.03.2075
(16.07.2018)31.03.2074
(15.07.2017)1 Insurance 1,830,547 2,231,333
Total 1,830,547 2,231,333
NOTE 1
Work in progress
NOTE 1.2
Depreciation (Please Refere Group Report Page No 40 & 41, Note No. 1.2)
NOTE 2
Investment in Subsidaries
NOTE 3
Inventory
NOTE 4
Prepayments
73
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
NOTE 5.1.1
Advances, Deposits and Other Receivables NRs.
S/N PARTICULARS32.03.2075
(16.07.2018)31.03.2074
(15.07.2017)1 Advances
1.1 Employee Loan/Advances 286,444 150,295
1.2 NEA Unit Current - 236,364
1.3 Chilime Jalbidhyut Sarokar - 2,500,000
1.4 Advance Tax 17,758,535 14,169,647
1.5 Andtitiz Hydro 31,950 31,950
1.6 Other Advances 337,371 348,550
Sub-total 18,414,300 17,436,806
2 Deposits
2.1 Other Deposit 25,036 -
2.2 DOED (Budhigandaki Prok, Hydroelectric Project) - 10,000,000
2.3 DOED (Budhigandaki Syar Hydroelectric Project) - 10,000,000
2.4 DOED ((Dudkoshi-5, Hydroelectric Project - 12,000,000
2.5 DOED (Dudkoshi-4, Hydroelectric Project) - 12,000,000
2.6 DOED (Setinadi, Hydroelectric Project) - 20,000,000
2.7 DEOD Budhigandaki "A" Hydroelectric Project 130 MW 20,000,000 -
2.8 Deposit for tax appeal 21,717,410 30,553,347
2.9 Rasuwa District Office 753,800 753,800
2.10 Other Receivables 112,771 8,750
Sub-total 42,609,016 95,315,896
3 Other Receivables
3.1 Other - -
3.2 Receivables From Associates 2,160,639 -
3.3 NEA Unit Current A/c (Net) 277,259 -
3.4 Bank interest receivable 4,047,572 129,452
Sub-total 6,485,470 129,452
Grand Total 67,508,786 112,882,154
NRs.
S/N PARTICULARS32.03.2075
(16.07.2018)31.03.2074
(15.07.2017)1 Opening Balance: 122,069,450 138,622,6492 Sales for the Year 1,138,432,864 1,196,889,7443 Total Receivable of this FY 1,260,502,314 1,335,512,3934 Collection in this Fiscal year (1,131,041,769) (1,193,509,743)5 Less: Outage Written Off (FY 70/71 & FY 71/72) - (10,785,600)6 Less: Excess Written Off (Kartik 2071) - (9,147,600)
Total 129,460,545 122,069,450
NOTE 5.1.2
Trade Receivables
74
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
NRs.
S/N PARTICULARS32.03.2075
(16.07.2018)31.03.2074
(15.07.2017)1 Citizens Bank International Ltd. 100,000,000 100,000,000
2 Laxmi Bank Ltd 20,000,000 20,000,000
3 Nepal SBI Bank Ltd. 100,000,000 200,000,000
4 Prime Bank Ltd. 50,000,000 50,000,000
5 NMB Bank Ltd 10,774,120 10,139,080
6 Century Bank Ltd 100,000,000 -
7 Everest Bank Ltd 80,000,000 -
8 Global IME Bank Ltd 50,000,000 -
9 Himalayan Bank Ltd 150,000,000 -
10 Muktinath Bikash Bank Ltd. 100,000,000 -
Sub-total 760,774,120 380,139,080
NRs.
S/N PARTICULARS32.03.2075
(16.07.2018)31.03.2074
(15.07.2017)1 Everest Bank Ltd 405,221 471,287
2 Himalayan Bank Limited 6,134,570 4,698,797
3 Janata Bank Ltd (Dividend) 66,103 66,103
4 Janata Bank Ltd 450,434 450,265
5 Jyoti Bikash Bank 9,243,920 2,800,631
6 Mega Bank Ltd 917,815 3,025,134
7 Nabil Bank Ltd 119,073 119,073
8 Nepal SBI Bank Ltd 7,273,528 5,426,258
9 NMB Bank Ltd 358,434 145,014
10 NMB Bank Ltd 358,291 349,273
11 Siddhartha Bank Ltd 135,289,742 131,035,888
12 Muktinath Bikas Bank Ltd 5,581,686 -
13 Standard Chartered Bank Ltd - 83,807
14 Nepal Bank Ltd 123,703 5,179,656
Total 166,322,521 153,851,185
NOTE 5.1.3
Investment in Term Deposits
NOTE 5.1.4
Balance With Banks
NRs.
S/N PARTICULARS32.03.2075
(16.07.2018)31.03.2074
(15.07.2017)1 Nepal Hydro and Electric Ltd 1,147,984 1,147,984
2 Retention Money 4,435,881 2,727,768
3 NEA Unit Current Account 532,832 391,765
4 Income Tax 1,740,019 45,270,301
5 CNC Pvt. Ltd 597,770 -
6 DOED (Royalty) 5,078,674 5,065,784
7 Other Liabilities 1,594,816 2,918,483
Total 15,127,975 57,522,085
NOTE 5.2.1
Trade and Other Payables
75
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
NRs.
S/N PARTICULARS32.03.2075
(16.07.2018)31.03.2074
(15.07.2017)1 Authorized Capital
2 40000000 Shares @ RS 100 each 4,000,000,000 3,500,000,000
3 Issued Capital
4 39700000 Shares @ Rs 100 each 3,970,000,000 3,470,000,000
5 Paid Up Capital 3,965,113,152 3,447,924,480
6 39651131 Shares @ Rs 100 each
Total 3,965,113,152 3,447,924,480
NOTE 6
Share Capital
NRs.
S/N PARTICULARS32.03.2075
(16.07.2018)31.03.2074
(15.07.2017)1 Opening Balance 4,906,214,375 4,595,988,009
2 Amended Assessment Tax Settlement - -
3 Opening Balance (Restated) 4,906,214,375 4,595,988,009
4 Distribution of bonus share (517,188,672) (313,447,680)
5 Dividend (344,792,448) (313,447,680)
6 Net Profit After Tax 914,073,308 937,121,726
Closing Balance 4,958,306,563 4,906,214,375
NOTE 7
Retained Earning
NRs.
S/N PARTICULARS32.03.2075
(16.07.2018)31.03.2074
(15.07.2017)1 Employee Leave Benefits (Note 8.1) 11,771,476 11,196,674
2 Employee Gratuity Benefit (Note 8.1) 44,842,809 42,758,996
Total 56,614,285 53,955,670
NRs.
S/N PARTICULARS32.03.2075
(16.07.2018)31.03.2074
(15.07.2017)1 Taxable/(Deductible) Temporary Difference 613,232,872 4,595,988,009
2 Tax Rate 20% 20%
3 Closing Deferred Tax (Assets)/ Liabilities 122,646,574 123,384,419
4 Less: Opening Deferred Tax (Assets) / Liabilities 123,384,419 123,041,763
5 Deferred Tax Expense/ (Income) (737,845) 342,656
6 To SoPL (2,062,390) (431,600)
To OCI 1,324,545 774,257
NOTE 8.2.3
Defined Benefit Obligation
NOTE 9.2
Deferred Tax Liabilities
76
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
NRs.
S/N ENERGY SALE AND PURCHASEFY 2074/075 (2017/018) 2073/074 (2016/017)
ELECTRICITY SALE IN UNITS
RATE PER UNIT NRS.
REVENUE ELECTRICITY
SALE IN UNITSRATE PER
UNIT NRS.REVENUE
1 Energy Sale
2 Regular Energy 130,807,007 8.17 1,068,693,250 132,758,000 8.17 1,084,632,860
3 Excess Energy 17,093,042 4.08 69,739,614 27,513,942 4.08 112,256,884
Net Sale of Electricity 147,900,050 1,138,432,864 160,271,942 1,196,889,744
NOTE 11
Revenue from sale of electricity
NOTE 12
Hydroelectric Plant Operating Expense (Please Refere Group Report Page No 56 & 57, Note No. 12)
NRs.
S/N PARTICULARS32.03.2075
(16.07.2018)31.03.2074
(15.07.2017)1 Current Tax Liability 18,000,793 10,898,992
2 Employee Welfare 3,486,981 5,612,883
3 Employee Bonus 18,753,273 18,889,842
Total 40,241,046 35,401,716
NOTE 10
Provisions
NOTE 13
Administrative Expense (Please Refere Group Report Page No 58, Note No. 13)
NRs.
S/N PARTICULARSFY 2074/075
(2017/018)FY 2073/074
(2016/017)1 Bank interest 68,444,188 39,349,972
NOTE 14
Finance Income
NRs.
S/N PARTICULARSFY 2074/075
(2017/018)FY 2073/074
(2016/017)1 Land Lease 1,724,869 1,478,923
2 Other Income 1,834,114 2,767,073
Total 3,558,983 4,245,996
NOTE 15
Other Income
77
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
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Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
79
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
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80
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
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81
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
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82
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
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83
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
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Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
PROJECT
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END
Sri L
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Key
Plan
SAN
JEN
(UPP
ER) H
YDR
OEL
ECTR
ICPR
OJE
CT
(14.
8 M
W)
CH
ILIM
E H
YDR
OPO
WER
PLA
NT
(22.
1 M
W)
RAS
UW
AGAD
HI H
YDR
OEL
ECTR
ICPR
OJE
CT
(111
MW
)
MID
DLE
BH
OTE
KOSH
I HEP
(102
MW
)
SAN
JEN
HYD
RO
ELEC
TRIC
PRO
JEC
T (4
2.5
MW
)BU
DH
IGAN
DAK
I PR
OK
HEP
(420
MW
)
CH
UM
CH
ET S
YAR
KH
OLA
HEP
(60
MW
)
SETI
NAD
I-3 H
EP(1
65 M
W)
CH
ILIM
E C
OR
POR
ATE
OFF
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KATH
MAN
DU
85
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
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86
Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
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Chilime Jalavidhyut Company Limited
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Chilime Jalavidhyut Company Limited
Annual Report FY 2074/075 (2017/2018)
HEAD OFFICEDhumbarahi, Kathmandu, NepalP.O.Box: 25210Tel: 977-1- 4370773, 4370793Fax: 977-1-4370720Email: [email protected]: www.chillime.com.np
Site OfficeChillime Hydropower PlantSyafrubensi, Rasuwa, NepalTel: 01-6202467, 994100004Fax: 994100005Email: [email protected]: www.chillime.com.np
ISO 14001:2004
CHILIME JALAVIDHYUTCOMPANY LIMITED