CHAIRMAN’S MESSAG E

Dear Shareholders,
 
It gives me immense pleasure in presenting the Annual Report of your company on the occasion of 5th Annual General Meeting. I extend a very warm welcome to all the shareholders.The audited accounts of the Company for the year 2017-18 along with the Directors’ Report, Statutory Auditors Report and comments of Comptroller & Auditor General of India thereon, have already been circulated to you and with your permission, I take them as read.During the year, company has achieved highest ever turnover of ` 68.80 crore as compared to previous year’s turnover of ` 58.49 crore, an increase of 17.63%. The profit before tax is ` 39.26 crore as compared to ` 27.94 crore of the previous year.During the year REMCL was able to facilitate flow of 1160 MW of power in 10 states as compared to 825 MW of power in 6 states during last financial year. With a vision to transform Indian Railways into “Green Railways” by reducing its carbon footprint and improving finances through reduction in cost of energy, Indian Railways has planned various initiatives through REMCL.
 
Your company is working in line with IR’s vision of “Green Railways” by implementing roof top solar and wind power plants in various phases. REMCL has awarded 120 MW of solar roof top and 42 MW of wind plant for Railways. The 26 MW windmill plant installed by REMCL generated 34 MUs (million units) of green power during the financial year 2017-18. After implementation of these projects, the carbon dioxide emissions would be reduced by 1.98 Lakhs tonne/year.Your Company has successfully facilitated the flow of power under Open Access in the states of Rajasthan, UP (CTU Point), Maharashtra, Gujarat, MP, Karnataka, RWF & Jharkhand, DVC command area, Haryana & Delhi as a deemed licensee which has resulted into a savings of over ` 3000 crores to Railways in their energy bills for the year 2017-18. Almost entire power of 2000 MW of IR has been tied up and out of which 1160 MW power has started flowing for Indian Railways as Deemed Distribution Licensee.Your Company has also successfully awarded the work for Techno-Economic Study and related survey of power sourcing arrangemnets for Mumbai-Ahemedabad High Speed Rail Corridor project and Consultancy for Preparation of Feasibility Report for Establishing Direct Connectivity with CTU Network for Mughalsarai – Howrah Section and Mathura-Bharuch Section.
 
Your Company meets parameter for ‘Excellent’ rating in its performance evaluation under the MoU signed with RITES Limited for the year under consideration (2017-18).However, formal communication from DPE in this regard is expected in due course.During the Year 2017-18 company has taken CSR initiative/ activities and successfully installed an innovative and unique 16kwp solar roof top plant at railway platform in place of asbestos sheet for the first time under CSR activity at Sahibabad Railway Station.Your Company meets parameter for ‘Excellent’ rating in its performance evaluation under the MoU signed with RITES Limited for the year under consideration (2017-18).However, formal communication from DPE in this regard is expected in due course. During the Year 2017-18 company has taken CSR initiative/ activities and successfully installed an innovative and unique 16kwp solar roof top plant at railway platform in place of asbestos sheet for the first time under CSR activity at Sahibabad Railway Station.Your Directors have recommended dividend of ` 9.09 crore for the financial year 2017-18.
 
Your Company accords highest importance to transparency,accountability & equity in all facets of its operations, with the aim of enhancing long term economic value of all the stakeholders & the society at large.I am grateful for the guidance provided by Member (Traction) and co-operation extended by officers of Indian Railways in conceptualizing and implementing various initiatives taken up by REMCL.I, on behalf of the Board, would like to place on record sincere thanks for the valuable services rendered by Statutory Auditors, i.e. M/s AB Bansal & Company, Chartered Accountants.Before I conclude, I must express my sincere thanks to our esteemed shareholders, my colleagues on the Board of Directors, officers from Ministry of Railways, Zonal Railways, Divisional Head Quarters, Bankers of the Company & REMCL team for their valuable support, advice and co-operationI acknowledge that organizations are built on a strongmanagement stakeholder’s relationship, which is a two way channel. I hope the coming years will further strengthen our relationship with all stakeholders for a sustainable growth and performance of the Company. Firmly anchored in the traditional wisdom of the past and seizing the opportunities in the present, your company is poised to excel in the years ahead.
 
 
With Best Wishes
Dated: 10th September, 2018 Chairman
Receiving special award for excellence performance under subsidiary/joint venture category of RITES Ltd. for the year 2017-18
Rajeev Mehrotra