+

SUMMER INTERNSHIP PROJECT REPORT

ON

FINANCIAL STATEMENTS
OF

YAMUNA POWER LTD.

Submitted By
Project Guidance
Mr Ramesh Joshi
Bhavesh Ghai
Bachelor of Business Administration
Roll No.: 00924001715

Trinity Institute of Professional Studies , Dwarka Sec-9

Affiliated to Guru Gobind Singh Indraprastha University, New
Delhi
 CERTIFICATE OF ORIGINALITY

I hereby declare that this Summer Internship Project is my own work and that, to the best of
my knowledge and belief, it reproduces no material previously published or written that has
been accepted for the award of any other degree of diploma, except where due
acknowledgement has been made in the text.

(Bhavesh Ghai)
Enrollment No.
Date:

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CERTIFICATE

This is to certify that Mr. Bhavesh Ghai BBA(Gen.) (2015-2018 Batch) a student of Trinity
Institute Of Professional Studies, Dwarka Sec-9 has undertaken the project on Comparative
analyses of financial statement of BSES . The project has been carried out by the student
in partial fulfillment of the requirements for the award of MBA, under my guidance and
supervision.

I am satisfied with the work of Mr. Bhavesh Ghai

Date:

Mentor: Mr. Ramesh Joshi

Signature.

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 ACKNOWLEDGEMENT
I take this opportunity to extend my sincere thanks to Trinity Institute of Professional
Studies , Dwarka Sec-9 and BSES Yamuna Power Ltd.,Karkardooma Shakti Kiran
Building New Delhi, for offering a unique platform to earn exposure and garner
knowledge in the field of Finance and Accounts.

I am thankful to my superior and project guide, Mr Ramesh Joshi of Financial & Accounts Dept, BSES
Yamuna Power Ltd., Karkardooma Shakti Kiran Building New Delhi, for his kind support, guidance
and encouragement he has extended to me throughout the project.

I also thank the entire Finance Department at BSES, Karkardooma for their unconditional support and
co-operation throughout the project. I would like to thank the entire BSES team for their direct and indirect
inputs towards this project.

I am also thankful to my mentor, Trinity Institute of Professional Studies , Dwarka

Sec-9 who has been guiding me throughout my project.

Working through this project has been indeed a very enriching experience.

Bhavesh Ghai
BBA(Gen.) 2rd Year
Trinity Institute of Professional Studies ,
Dwarka Sec-9

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TABLE OF CONTENTS

CERTIFICATE 2-5
ACKNOWLEDGEMENT 6
INTRODUCTION TO POWER SECTOR, DELHI 8
COMPANY PROFILE .. 9-10
BOARD OF DIRECTORS. 11
MISSION AND VISION 12
OBJECTIVES OF REPORT13
RESEARCH METHODOLOGY. 14-17
BSES JOURNEY... 18
NETWORK AND INFRASTRUCTURE.. 19-20
BUSINESS PROCESS RE-ENGINEERING.. 21
COLLECTION PROCESS
WORK PERFORMED BY Collection Dept. ..
RATIO ANALYSIS ..
CALCULATION OF RATIOS..
GRAPHICAL ANALYSIS
TABLE OF RATIOS..
THE ROAD AHEAD.
FINDINGS AND OBSERVTION..
LIMITATIONS
CONCLUSION
BIBLIOGRAPHY.
.

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INTRODUCTION TO POWER SECTOR DELHI

A massive investment in infrastructure is necessary for India to maintain its growth

trajectory. Traditionally, this has been a responsibility of the government. However, the
government has limited means financially and organizationally to achieve this. As a result,
India has a huge infrastructure deficit. In this environment, privatization and publicprivate
partnerships are very important. Privatization of electricity distribution in Delhi is an
example, which has resulted in significant improvement in all the operational parameters and
consumer satisfaction through effective management, process re-engineering and sustained
capital investment.

A brief history of reforms

Choosing public private partnership along with regulated competition as the preferred model
to deliver reliable and quality power at stable and affordable rates, Delhi began the process
of power reforms in early 1999. To facilitate the reforms the Delhi Electricity Reform Act
2000, was passed, and the Transfer Scheme became operational from July 2002. The same
year Delhi Vidyut Board (DVB) was divided into seven independent companies three for
Distribution (Discom), two for Generation, one for Transmission and a Holding company
(Delhi Power Corporation Ltd.). Power distribution was transmitted through a competitive
bidding process based on a trajectory of Aggregate Technical and Commercial (AT&C)
loss reduction in the first five years, to the three discoms. These are BSES Yamuna Power
Limited (BYPL) and BSES Rajdhani Power Limited (BRPL) which are joint ventures
between Reliance Infrastructure Ltd. and The Government of the National Capital Territory
(GoNCTD). The Third is North Delhi Power Limited (NDPL) which is a joint venture
between Tata Power Company Limited and GoNCTD.

Pre privatization scenario

Erstwhile DVB was Indias largest urban power utility, but was unable to meet power
requirements of the national capital. Its financial health was deteriorating; there was rampant
revenue leakage through distribution losses (average > 50 per cent), and the Government had
to provide huge annual financial support of about Rs.1200 crore, which was increasing each
year. Rampant theft and deep-rooted corruption suffocated the entire value chain. It had poor
infrastructure, and the rapid urbanization and migration from neighboring states put further
strain on the demand/supply gap resulting in frequent network failure, load shedding, and
voltage fluctuations.

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COMPANY PROFILE:-

Introduction to BSES (Delhi)

Following the privatisation of Delhis power sector and unbundling of the Delhi Vidyut
Board in July 2002, the business of power distribution was transferred to three different
companies. Two of the three are BSES Yamuna Power Limited (BYPL) and BSES
Rajdhani Power Limited (BRPL). These two of the three successor entities distribute
electricity to 22.6 lacs customers in two thirds of Delhi. The Company acquired assets,
liabilities, proceedings and personnel of the Delhi Vidyut Board as per the terms and
conditions contained in the Transfer Scheme.

BSES Rajdhani Power Limited (BRPL)

BRPL distributes power to an area spread over 750 sq. km with a population density of 1360
per sq km. Its over 12.2 lacs customers are spread over 19 districts across South and West
areas.

BSES Yamuna Power Limited (BYPL)

BYPL distributes power to an area spread over 200 sq kms with a population density of 4230
per sq km. Its 10.4 lac customers are spread over 14 districts across Central and East areas.

Since taking over distribution, BSES singular mission has been to provide reliable and
quality electricity supply. BSES has invested over Rs. 3500 crore on upgrading and
augmenting the infrastructure which has resulted in a record reduction of AT&C losses.
From a high of 63.1% AT&C losses in BYPL area the losses have come down to 39.03% a
record reduction around 24%.
Similarly, in BRPL area AT&C losses have been reduced from 51.2% to 29.2% - a record
reduction of 22%.

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 BYPL BRPL BSES
SNo PARTICULARS UNITS East & central South & west Delhi

1.
Area sq. km 200 750 950

2. Cons/sq
Customer density km 4230 1360 5590

3.
Total Registered Lacs 10.4 12.2 22.6
Customers

4.
Peak Demand MW 900 1420 2320

5.
Consumption per year MU 5000 8000 13000

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BOARD OF DIRECTORS:-

BSES Rajdhani Power Limited

As On 31 MARCH 2017

1. Shri Lalit Jalan (Chairman)

2. Gen. V. P. Malik (Retd.)
3. Shri Anthony Jesudasan
4. Shri V.V.Bhat (IAS)
5. Shri Rajendra Kumar (IAS)
6. Shri D.M.Spolia (IAS)

BSES Yamuna Power Limited

As On 31 MARCH 2017

1. Shri Lalit Jalan (Chairman)

2. Shri Surinder Singh Kolhi (Independent Director)
3. Shri Sudhir Singh (Govt. Director)
4. Shri Prem Prakash
5. Shri Gopal Krishna Saxena(Director)
6. Shri Amal Sinha(Director)

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VISION

To be amongst the most admired and most trusted integrated utility companies in the
world.
To deliver reliable and quality products and services to all customers at competitive
costs, with international standards of customer care- thereby creating superior value
for all stakeholders.
To set new benchmarks in: standards of corporate performance and governance,
through the pursuit of operational and financial excellence, responsible citizenship
and profitable growth.

MISSION

To attain global best practices and become a world-class utility

To provide: uninterrupted, affordable, quality, reliable, safe and clean power to our
customers.
To achieve excellence in: service, quality, reliability, safety and customer care.
To earn: trust and confidence of all customers and stakeholders by exceeding their
expectations, and make the company a respected household name.
To work: with vigor, dedication and innovation keeping total customer satisfaction
as the ultimate goal
To consistently achieve: high growth with the highest levels of productivity
To be: a technology driven, efficient and financially sound organization
To be a responsible corporate citizen nurturing human values and concern for society,
the environment and above all, people
To contribute: towards community development and nation building.
To promote a work culture that fosters: individual growth, team sprit and creativity
to overcome challenges and attain goals.
To encourage: ideas, talent and value systems
To uphold the guiding principles of: trust, integrity and transparency in all aspects of
interactions and dealings.

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OBJECTIVES OF THE REPORT:

The first objective is to understand the working of the company as a whole and analyze
the balance sheets on the basis of relevant parameters and the study of financial
statements of BSES Power Ltd.

To study the collection process followed by the organization.

To study the work performed by the Financial & Accounts Departtment of BSES

Performing a fundamental analysis on Financial Statements

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RESEARCH METHODOLOGY:-

Research Methodology is away to systematically solve the research problem. It may be

understood as a science of studying how research is done scientifically in it we study. The
various steps that are generally adopted by a researcher in studying his research problem
along with the logic behind them. It is necessary for the researcher to know not only the
research/technology but also the methodology.

TOOLS:
Sampling
Sample Size
Sample Selection
Data Collection and Data sources
Tools to be used for Data collection
Research Procedure

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TYPES OF METHODOLOGY:-
Research can be classified into following broad term:

Pure Research : Pure Research is largely limited the academic word. The funds from
educational and government institution and foundation enable researchers to peruse pure
research.

Applied Research: Applied Research is undertaken with the aim of uncovering data to
solve an existing problem.

Descriptive Research: Descriptive Research study may employ any of or all the methods
of data collection such as interview, questionnaire, observation, tests and cumulative record
cards.

Quantitative Research: Quantitative Research is based on the measurement of quantity or

amount. It is applicable to phenomenon that can be expressed in term of quantity.

Qualitative Research: Qualitative Research on the other hand, is concerned with

qualitative phenomenon. i.e; phenomenon relating to or involving quality or kind.

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RESEARCH DESIGN:-

A research design is specification of method and procedure for accruing the information
needed. It is overall operational pattern of frame work of project that stipulates what
information is to be collected for source by that procedures

Descriptive Research design is appropriate for this study.

Descriptive study is used to study the situation. This study helps to describe the situation. A
detail descriptive about present and past situation can be found out by the descriptive study.
In this involve the analysis of the situation using the secondary data.

DATA COLLECTION:-

Secondary Data:

Secondary data are statistics not gathered for the immediate at hand but for some other
purpose.

This research study is based on secondary data. Secondary data means data that already
available i.e the data which have been already collected and analyzed by someone else.

Secondary data are used for the study of Ratio analysis of the company. To collect the data
I have refer Company annual report, annual magazine, last Four year balance sheet, and
cash flow statements.

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The information is collected through secondary sources during the project. That
information was utilized for calculating performance evaluation and based on that,
interpretation were made.

1. Most of the calculation are made on the financial statement of the company
providing statements.

2. Referring standard texts and referred books collected some of the information
regarding theoretical aspects.

3. Methods to assess the performance of the company method of observation of

the work in finance department.

Methods of Secondary Data:-

Internal Secondary Data: data that originate within the firm for which research is
being conduct are internal data. If they were collected for some other purpose. They
are internal secondary data.

External Secondary Data: the second forms of secondary data are external source
which are generally published and are available in different from and form different
source. Although external secondary data may be option and different source, some
of the source given here:

I. Library
II. Literature
III. Periodical.

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 BSES journey:-
The legacy that BSES inherited was akin to taking over a sick unit, and also the associated
risk of handling Delhis power distribution. Clearly, the challenge for BSES was huge.
However, over the past six years, BSES has achieved success on most fronts and is poised to
have Delhi achieve global benchmarks in the years to come.

BSES discoms achievements:

The opening bid level AT&C losses set by Delhi Electricity Regulatory Commission
(DERC) in its tariff order dated February 2002 was 48.10 per cent for BRPL and
57.20 per cent for BYPL. At the time of takeover for BRPL, actual AT&C losses
were much higher at 51.54 per cent. This is now reduced to 27.17 per cent. For BYPL,
it was at 63.16 per cent, now down at 29.82 per cent. In fact, in FY08, BYPL was the
first discom to achieve the highest reduction in a year, by approximately 10 per cent.
Averaging at 4 per cent a year, BSES is way ahead of the national AT&C loss
reduction average of 1 per cent. To cut its AT&C losses BSES used a combination of
measures like replacing electro-mechanical meters with electronic meters, mammoth
infusion of capex for entire distribution system, bringing new consumers into un-
electrified areas, aggressive drive to curb theft, improved collection efficiency,
speedy settlement of disputes through special courts, and recovery of dues.
Revenue growth and tariff perspective:
Revenue has more than doubled in the last six years. In FY08, BSES discoms total
income from energy billing was Rs.4,400 crore (net of taxes). BSES also sold or
banked surplus power aggregating Rs.1,200 crore. Revenue from sale of surplus
power impacts consumer tariff by lowering power purchase cost. In FY08, BSES
discoms average retail tariff per unit without taxes was approximately Rs.4.27, which
is quite low compared with existing rates in the NCR and major cities.
Financial benefits from distribution reforms:
BSES discoms have made a substantial investment in infrastructure of Rs.3,240 crore
(approx.). BSES has also paid loans taken in the opening Balance Sheet of Rs.864
crore to Delhi Power Corporation Limited, and Rs.465 crore in old dues of erstwhile
DVB, and the Government. It has also met all payment obligations, including dues to
generating companies, and secure its large payment obligation with LC and escrow
arrangements. It has also reconciled the fixed assets and stores it inherited and today
has sufficient records to support its asset base. The significant reductions in AT&C
losses in such a short duration have helped in better cost recovery and neutralized
tariff increases.

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Network and Infrastructure:-

System up-gradation and improvements:

BSES has been upgrading and modernizing its distribution systems. It has adopted
technologies and processes conforming to global benchmarks, and electrified
previously un-electrified areas. It has also introduced high-voltage distribution
systems to ensure there is no theft. There has been notable growth in ground facilities
of new grids, power transformers, distribution transformers, extra-high voltage cable
lengths, and LT lines. BSES has augmented its network strength for Delhi distribution
to cater to peak demand of 4200 MW against approximately 2900 MW in FY02. It
has also shown significant improvement in reducing equipment failures and
breakdown resolution. Through all these efforts the Delhi consumer is experiencing
improved load shedding, voltage quality, stability in power supply, fault repairing,
and response time.

Success of electronic metering

With domestic consumers constituting close to 80 per cent of the consumer mix, a
strong meter measurement system to arrest revenue leakage was a pre-requisite.
BSES has installed electronic meters, despite extensive opposition, with Government
support and favourable court verdicts. Electronic meters are downloadable with no
manual intervention and the quality of meter reading has improved, reducing leakage.
Electronic meters also facilitate an analysis of consumer usage patterns, and the data
is useful in resolving related grievances. For the high-end key consumers another
milestone has been achieved by introducing automatic meter reading. BSES has also
metered all the 9000-plus distribution transformers, which will enhance effective
energy audits to identify high loss areas.

Network and asset mapping

BSES advocates importance of network and asset mapping through global edge
technologies available on SCADA and GIS platform. It has implemented SCADA
across all extra-high voltage grid networks with remote management through a
centralized station. Further, all electrical assets including transformers have been, or
are, in the process of GIS mapping.

IT infrastructure enhancement
For end-to-end integration of various functions and processes, BSES has made major
investments to bring its IT capabilities to global standards. It has developed the
largest single-location IT network in North India; 330 offices are networked with
24x7x365 monitoring and uptime maintained at 99 per cent. It has deployed about
3800 PCs and 800 printers across these locations. With large consumer database to
manage on a round-the-clock basis, BSES has continuous database support and
monitoring of 40 servers and network attached centralized storage set up of 4 TB with
200 users connected, ensuring 100 per cent uptime. It has a work force of nearly 9000
people trained in related IT capabilities. Functions of finance, materials, metering and

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billing are all integrated on SAP. BSES is now implementing a more advanced IT
system for revenue cycle management SAP (ISU/CCS).

In the finance function, all aspects of accounting, capitalization, collections,

payments, payroll etc, are online, real time on the SAP-FICO platform. The cash
management system with 200 cash counters and multiple payment options is well
integrated, robust, and online. The entire capitalization process is totally integrated
from the project clearance stage to material consumption, completion, and
monitoring. The process extending from downloading of meters to billing and then
to cash, is a key component of the revenue management cycle. The whole process
is purely system driven with minimum human intervention.

Savings to Delhi Govt. in 6 years (Rs. Crs.)

Capital Loan Pay AT & C Loss

Expenditure back to Reduction
DPCL

BRPL 1970 690 3380

BYPL 1270 174 2240

BSES 3240 864 5620

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BUSINESS PROCESS RE-ENGINEERING:-
To effectively align, map and roll out business processes with operations in the shortest
possible time, a dedicated resource team constituting internal and outside consultants is in
place. Some critical processes, which were taken on priority, are:

Revenue cycle management to reduce meter-to-cash cycle and improve quality of

billing. Revenue protection to monitor receivables, unbilled revenue, and new
connection and disconnection processes.
Meter Management, which if uncontrolled can result in revenue leakage. Several
initiatives have been taken to control meter movement, such as tagging meters to
consumers, proper installation and effective downloading. This area requires regular
process review for improvements.
Call centre management including complaint tracking and their disposal / closure.
Customer care services and handling consumer grievances.
Customer care initiatives:
These include a dedicated helpline for handling complaints, easy access to BSES by
having one office within 2.5 km area, newly designed electricity bill with ample
information etc. There are multiple payment options with approximately 2000 touch
points through drop boxes, easy bill, credit cards, and internet etc. Customer care
centers are now well equipped and provide single-window clearance for most issues.
BSES website bsesdelhi.com has been re-launched with enhanced features and
information.
Organizational restructuring:
Post-privatization, BSES paid Rs.227 crore to more than 4300 employees under a
special VRS scheme. Absorbing the remaining erstwhile DVB employees has been a
critical challenge, but with adequate support from the Government and unions, BSES
today is One Team. BSES has a planned strategy to outsource some critical
activities of meter and billing management and the current strength of outsourced
manpower is approximately 4500. BSES discoms also have AMC manpower
contracts handling operations and maintenance, security, house keeping etc. BSES
has taken major steps to define roles, responsibility and accountability at each level
of operation. The entire performance management system is on SAP with a well laid
out goal-setting process and mid-term reviews. In-house specialists conduct
extensive technical, commercial and management training programs. HR processes
are on SAP and are ISO certified.

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Collection Process

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COMPRATIVE ANALYSIS OF FINANCIAL STATEMENTS
OF BSES

RATIO ANALYSIS

CLASSIFICATION OF RATIOS:-

1) LIQUIDITY RATIO

2) LONG TERM SOLVENCY & LEVERAGE RATIO

3) ACTIVITY RATIO

4) PROFITABILITY RATIO

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 LIQUDITY RATIOS
The following liquidity ratios are all designed to measure a company's ability to cover its
short-term obligations. Companies will generally pay their interest payments and other short-
term debts with current assets. Therefore, it is essential that a firm have an adequate surplus
of current assets in order to meet their current liabilities. If a company has only illiquid assets,
it may not be able to make payments on their debts. To measure a firm's ability to meet such
short-term obligations, various ratios have been developed.

It measures the ability of the firm to meet its current obligations. Liquidity ratio establishing
a relationship between cash and other current asset to current obligation provide a quick
measure of liquidity.

I.) Current ratio

II.) Liquid ratio / Quick ratio / Acid test ratio
III.) Absolute liquid or Cash ratio

Current Asset movement ratio

I.) Debtor turnover ratio

II.) Creditor turnover ratio
III.) Inventory turnover ratio

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I. CURRENT RATIO

The Current Ratio measures a firm's ability to pay their current obligations. The
greater extent to which current assets exceed current liabilities, the easier a
company can meet its short-term obligations.

The Formula for calculating Current Ratio is:-

Current Assets

Current Ratio = ---------------------------------------

Current Liabilities

A lower ratio suggests that the company may have liquidity problems. However, a
significantly higher ratio may suggest that the company is not efficiently using its
funds. A satisfactory Current Ratio for a company will be within close range of the
industry average.

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 II. ACID TEST OR QUICK RATIO

The Acid Test Ratio or Quick Ratio is very similar to the Current Ratio, except for the fact
that it excludes inventory. For this reason, it's also a more conservative ratio. The Formula
Used for calculating Quick ratio:-

Current Assets Inventory

Acid Test / Quick Ratio = ----------------------------------------------

Current Liabilities

Inventory is excluded in this ratio because, in many industries, inventory cannot be quickly
converted to cash. If this is the case, inventory should not be included as an asset that can be
used to pay off short-term obligations. Like the Current Ratio, to have an Acid Test Ratio
within close range to the industry average is desirable.

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 III. WORKING CAPITAL
Working Capital is simply the amount that current assets exceed current liabilities.
Here it is in the form of the equation:

Working Capital = Current Assets - Current Liabilities

This formula is very similar to the current ratio. The only difference is that it gives you
a dollar amount rather than a ratio. It too is calculated to determine a firm's ability to pay its
short-term obligations. Working Capital can be viewed as somewhat of a security blanket.
The greater the amount of Working Capital, the more security an investor can have
that they will be able to meet their financial obligations.

Many times a company does not have enough liquidity. This is often the cause of being
over leveraged.

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 IV. LEVERAGE
Leverage is a ratio that measures a company's capital structure. In other words, it measures
how a company finances their assets.

Long Term Debt

Leverage = -------------------------------------

Total Equity

A firm that finances its assets with a high percentage of debt is risking bankruptcy
should it be unable to make its debt payments. This may happen if the economy of the
business does not perform as well as expected. A firm with a lower percentage of debt has a
bigger safety cushion when time turns bad.

A related side effect of being highly leveraged is the unwillingness of lenders to provide
more debt financing. In this case, a firm that finds itself in a jam may have to issue stock on
unfavorable terms. All in all, being highly leveraged is generally viewed as being
disadvantageous due to the increased risk of bankruptcy, higher borrowing costs, and
decreased financial flexibility. On the other hand, using debt financing has advantages.
Stockholder's potential return on their investment is greater when a firm borrows more.
Borrowing also has some tax advantages.

A bondholder would prefer a company with very little debt financing because of the
lower risk inherent in this type of capital structure. A stockholder would probably opt for a
higher percentage of debt than the bondholder in a firm's capital structure. Yet, a company
that is highly leveraged is also very risky for a stockholder. When a firm becomes over
leveraged, bankruptcy can result.

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 V. DEBT RATIO

The short term creditors like Bankers and suppliers of raw materials are more
concerned with the firms current debt paying ability. On other hand long term
creditors like Debenture holders financial institution etc are more concerned with the
firms long term financial strength.

Total Debt
Debt Ratio = ------------------------
Net Assets

Total Debt
= ----------------------------------
Total Debt + net worth

Total Debt
= ------------------------------
Capital employed

VI. CURRENT CASH DEBT EQUITY RATIO

Current Cash Net cash from operating activities

Debt Ratio = --------------------------------------------------------
Total liability

VII. RETURN ON INVESTMENT

Return on Net Profit

Investment = -----------------------------------------------
Now Analysis of:- Cost of Investment

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BSES YAMUNA POWER LIMITED and RAJDHANI
POWER LTD.

BSES YAMUNA 2017

31
The Road Ahead:-

The reform process has evolved gaining strength over the last six years and the Public Private
Partnership model with majority stake of private companies has worked. spite the initial
resistance to modernization, Delhi consumers are recognizing the benefits in terms of quality
and reliability of power at reasonable tariffs. Some areas of concern still remain.

The regulator is expected to play a very balanced role, take forward the strength of
reforms with even-handedness and support business viability of discoms. Till this
balance is achieved, private players will find it difficult to equate risks with returns.
For one, the settlement process for disallowances or disputed issues with the regulator
is fairly long. Also, many of these issues are linked to future retail tariff increases and
delays have a direct bearing on revenue generation and balance sheet position of
discoms. Since discoms are expected to manage their finances on their own
commercial borrowings, meet their debt services obligation along with timely
payment of power purchase and other expenses, it becomes a very complex task.

The divorce between politics and business of electricity distribution has still not
happened in the six years after privatization. If power distribution has to be market-
driven, self-sustaining, and independent, it must be run on a commercial basis without
political interference.

Bringing AT &C losses to an acceptable level is difficult, and Delhis typical

consumer profile, land use pattern, rapid urbanization, socio-political influences and
habitual theft tendencies are great challenges. BSES has brought down its losses from
the 50-60 per cent levels to less than 30 per cent, and to reduce this further it will
have to strengthen its distribution network, and aggressive optimize its available
resources and improve operational efficiency.

High-level system integration is under implementation, and the entire distribution

network up to the last level of consumer meters will be tagged and controlled through
IT systems to enable a comprehensive energy audit. All asset records will be mapped
through GIS. Business, commercial and financial systems are already integrated but
will need to be strengthened further.

Customer care and satisfaction is a key indicator of acceptability and success, but
perception has to improve and goodwill created. BSES has taken a lot of initiatives
in this area, and is also conscious of its corporate social responsibility and
commitment to support energy conservation initiatives.

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FINDINGS AND OBSERVATION:-

33
LIMITATION OF THE STUDY:-

34
CONCLUSION:-

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 REFERENCES:-

Reference Material provided by BSES Power Ltd., Karkardooma, New Delhi.

Balance Sheet of BSES Rajdhani and Yamuna Power Ltd.

Internet References

www.investopedia.com/university/ratios

www.netmba.com/finance/financial/ratios

Study Material

Financial Management by Khan & Jain

Marketing Research by GC Berry

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