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  • HydroConsultHydro Consult Pvt. Ltd. (HCPL)

    Annual Report 2011

  • Vision

    To become a leading professional consulting service provider in the Hydropower sector in Nepal and in the International market.

    Mission

    To provide quality and cost effective services in energy, environment and other infrastructure projects to meet customer satisfaction.

    Objective

    To provide innovative and competitive consultancy services in the field of hydropower, water supply, irrigation, transport and other infrastructure related sectors by producing appropriate engineering design and development solutions giving priority to the use of local skills, technology and protection of environment.

    Contents

    I. Corporate Profile 1

    II. Directorss Report 2

    III. Corporate Governance Report 7

    IV. Key Staff & Management Team of HCPL 10

    V. From the desk of CEO 11

    VI. Brief overview on the projects of F Y 2067/68

    1. PROJECT NAME: KABELI-A HYDROELECTRIC PROJECT (KAHEP) 12

    2. PROJECT NAME: TADI KHOLA HYDROPOWER PROJECT 13

    3. PROJECT NAME: BHERI BABAI DIVERSION MULTIPURPOSE PROJECT 14

    4. PROJECT NAME: NYADI HYDROPOWER PROJECT (NHP) 16

    5. PROJECT NAME: LOWER MANANG MARSYANGDI

    HYDROELECTRIC PROJECT 18

    6. PROJECT NAME: GURA SMALL HYDROPOWER PROJECT (GSHP) 19

    VII. Financial Performance 20

    VIII. Financial Statements 2011 25-40

    1. Auditors Report 27

    2. Balance Sheet 29

    3. Income Statement 30

    4. Cashflow Statement 31

    5. Statement of Changes in Equity 32

    6. Schedules 32

    7. Significant Accounting Policies and 39

    Notes Relating to the Annual Account

  • Annual Report 2011Hydro Consult Pvt. Ltd.

    1

    Corporate Profile

    Butwal Power Company Ltd. (BPC) acquired Hydro Consult Pvt. Ltd. (HCPL) in 2009 by holding majority of its shares to run engineering consultancy business independently. BPC Engineering wing BPC Hydroconsult has been able to lead in the field of the Engineering consultancy business through successful completion of National and International projects since 1986 especially in hydropower sector. After acquiring HCPL by BPC, BPC Hydroconsult were merged into it.

    HCPL has highly qualified and experienced national and international professionals in various field of engineering. HCPL is equipped with modern software and equipments. At present, HCPL is working together with Bernard (Austria), Mott MacDonald (UK), SWECO (Norway) etc in various hydropower projects.

    Corporate Information

    Name : Hydro Consult Pvt LtdRegistration No: 8244/054/55Date of Incorporation: 2054/12/11/3VAT No: 500012033Corporate Office: Pabitra Marga, Buddhanagar, KathmanduTel: +977 1 4782507, 4785920Fax: +977 1 4785920Email: [email protected]: www.bpch.com.npBankers: Himalayan Bank Ltd Standard Chartered Bank LtdStatutory Auditor: P. P. Pradhan & Co., Sanepa, Lalitpur

  • Annual Report 2011 Hydro Consult Pvt. Ltd.

    2

    Financial Performance

    The year 2067/68 is proven to be a good start for HCPL. During that fiscal year HCPL has recorded turnover of NPR 56.25 million with net profit of NPR 8.83 million and net worth of NPR 19.59 million. There has been increase of 133% in the turnover, 8.45 times in the net profit and 83% in net worth during the fiscal year 2067/68 in comparison to last fiscal year.

    Business Operations

    Some of the major jobs accomplished and in progress during the fiscal year 2067/68 are listed below.

    Review for the selection of Regional Hydro Power Plants in Nepal for interconnection to proposed SAARC regional grid was completed.

    Draft report of Detail Design of Bheri Babai Diversion Multipurpose Project, Component B: Hydropower (48MW) was submitted.

    Updated Feasibility Study, Tender Document Preparation, Social Impact Assessment Study, Preparation of ToR and Scoping for EIA and IEE of 37.6 MW Kabeli A hydropower project were completed. At present, approval of the submitted documents and finalization of tender documents is taking place including World Banks appraisal. Currently detail design of the project is in progress.

    Feasibility study of 140 MW Lower Manang Marsyangdi was completed. EIA study in association with SWECO is in progress. Similarly, tender document preparation and detail design of 140 MW Lower Manang Marshyangdi are continuing.

    Detail design and tender document preparation of 30 MW Nyadi Hydropower project are in progress.

    Construction, Supervision of Sikta Irrigation is continuing. Detail Design of 4.2 MW Tadi Hydropower Project was completed. Construction Supervision

    of the same is in progress with the target to complete by October 2012.

    Besides above mentioned projects, several other projects were carried out by HCPL like; Feasibility study and IEE of 42 MW Marsyangdi III, Repair and Maintenance of Khudi HEP, Jhimruk Impact Study and, Review of 15.6 MW Mai Hydropower Project for the consortium of lending institutions lead by Laxmi Bank Ltd.

    HCPL has bagged Engineering and consulting job in Kenya for Design Review and Construction Management of 5 MW Gura Hydropower Project.

    Dear Shareholders,

    Your Board has pleasure in presenting the annual report and the audited statements of accounts of the company for the year ended July 16, 2011.

    Directors Report

  • Annual Report 2011Hydro Consult Pvt. Ltd.

    3

    Board of Directors and Committees

    There were changes in representation in the Board during the year. BPC nominated Mr. Radheshyam Shrestha and Mr. Pratik Man Singh Pradhan as its representative in the Board of HCPL. PEEDA has nominated Mr. Gokul Sharma in the Board of HCPL with effect from October 28, 2010 in place of Mr. Balaram Pradhan. We would like to welcome the new Directors and extend our thanks to Mr. Pradhan for his contribution to the Company during his tenure.

    The Audit Committee played an important role in strengthening the internal controls and good corporate governance.

    Corporate Governance

    HCPL has adopted value framework to ensure good corporate governance in the Company. HCPLs corporate value framework comprises of vision, mission, values, code of conduct and ethics. Corporate Governance standards are reported separately as Corporate Governance Report.

    Management

    HCPL is managed by a strong team of professionals led by Chief Executive Officer, Mr. Manohar Shrestha.

    There were 61 employees at the end of the F/Y 2067/68. List of top management and senior executives is included in the Corporate Governance Report.

    The Management expenses in F/Y 2067/68 totaled NPR.10.21 million which is 18% of the total turnover.

    Health & Safety

    Health and Safety of employees is the most important element in HCPLs business operation. It has taken all the measures for the safety of its employees at the office and at the sites. Special care has been taken for the safety of field staff at the project sites. There is provision of accident insurance covering 24 hours a day and medical insurance for the employees. In the same way fire and other general insurance have been taken for the safety of office premises and other assets.

    Employees are provided with reasonable sick leave, paternity, maternity and personnel leaves considering their health and safety reasons.

    Employee Relation and Industrial Associations

    HCPL gives top priority on maintaining cordial relations between the management and the employees. HCPL emphasizes on trained and dedicated human resources to meet the present needs and for the future growth of the Company. Several trainings have been provided to the employees for enhancing their skills and work efficiency. Retention of the professionals is the priority of the company.

    HCPL has a very healthy relation with other institutions such as Kathmandu University, Institute of Engineering, etc.

  • Annual Report 2011 Hydro Consult Pvt. Ltd.

    4

    HCPL is working together with Bernard (Austria), Mott MacDonald UK and SWECO in various projects. Similarly, HCPL has close contacts among the local and international experts whenever required. HCPL is active member of the Nepal Hydropower Association.

    Business Environment and Related Risk

    HCPL is fully financed on Equity. The company doesnt have any type of bank debt and has sufficient clients to sustain at present. The development of Hydropower project in the country is slow because of the political environment and financial constraints. For sustained growth, HCPL has explored alternate markets and has secured Engineering works in Kenya. Further, HCPL has plans to take over the more local and international projects. Considering this, HCPLs financial risk on sustainability is substantially low. HCPL has already been able to establish its lead position in the Engineering Consultancy Business, mainly in water resource projects which help to establish and grow HCPL with minimum risk.

    At present, HCPL is concentrated mostly on its sister organizations projects, so HCPL has to compete for getting the local and international projects in future to cope with the concentration of risk. The risk in consulting business in hydropower sector could be overcome once Hydropower projects development gears up in a real sense for construction at field.

    Corporate Social Responsibility (CSR)

    From the beginning of consulting services of HCPL, HCPL has contributed on corporate social responsibility like support on different aspects for the benefits of locals and socio-ecological system. Few highlights of CSR are as follows:

    Design of fish ladders in Jhimruk and Andhikhola power plants Designed and worked for Glacier Lake Outburst Flood (GLOF) risk reduction in Tsho-

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