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KERALA STATE POWER AND INFRASTRUCTURE FINANCE CORPORATION LTD.
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Particulars of organization

Last updated Date :03-02-2017

Kerala State Power and Infrastructure Finance Corporation Limited, (K. S. P. I. F. C) is a Government Company promoted jointly by the Government of Kerala and Kerala State Electricity Board (K.S.E.B) to provide financial assistance for the development of the Power sector and other Infrastructure projects in the State of Kerala. The company was formerly known as Kerala Power Finance Corporation Ltd, (K. P. F. C) with the objective of providing financial assistance only for power projects. KPFC was incorporated on 20th March 1998 as a Public Limited company under the Companies Act, 1956. The Government vide G.O (MS) No.21/2006/PD dated 03-08-2006 gave approval for providing financial assistance for other Infrastructure projects in addition to Power sector and the name of the company was also changed to Kerala State Power and Infrastructure Finance Corporation Limited. The company received fresh certificate of incorporation from Registrar of Companies on 13-12-2006 and new certificate of Registration from Reserve Bank of India on 05-01-2007. The Company commenced business activities in the new name from 08-01-2007.
The Registered and Administrative office of the Company is situated at Thiruvananthapuram.
Notes There are no branch offices for the Company

Salient features

Salient features of the Company is as follows,

Commenced business on 13th July 1999 under the name and style of Kerala Power Finance corporation Ltd.
Registered as a Public Limited Company with the Registrar of Companies, Kerala . (New Registration No U659160KL1998SGCO12160)
Registered as a Non Banking Finance Company(N.B.F.C) with Reserve Bank of India . (New Registration No A.16.00094)
Categorised by Reserve Bank of India as a “A” Category N.B.F.C with effect from 27-01-2003.
Authorised Share Capital - Rs.100 crores divided into 10 crores equity shares of face value Rs.10 each.
Paid up share capital as on 31-03-2012
    Government of Kerala : Rs.13.90 crores
    K.S.E.B : Rs. 9.50 crores
    Bonus shares to promoters : Rs. 3.25 crores


The business of the Company is carried out in line with objectives and activities set out in the Memorandum of Association. The business is carried out by Managing Director appointed, subject to the directions, superintendence and control by the Board of Directors appointed by the Government of Kerala in terms of the Articles of Association of the company. The Government may issue such directives or instructions as may be considered necessary in regard to the conduct of business and affairs of the company. The Shareholders of the company exercise control over the company's affairs as envisaged in the Companies Act.. The borrowing programme is guided and monitored by Board of Directors, with day to day operations carried out by the Managing Director with assistance of other executive Officer(s).

Department of Power, Govt. of Kerala is the administrative department.



Objectives of the Company

To finance for development and operations of the Kerala State Electricity Board, which is engaged in the generation, transmission and distribution of Electricity within the state of Kerala
To finance for the development and operations of the Power sector Projects, units and stations involved in the generation, transmission and distribution of Electricity within the state of Kerala and to institutions who are supplies of raw materials, equipments, plant and machinery etc to various power producers and for financing infrastructure activities within the State of Kerala.
To assist Kerala State Electricity Board with long, medium and short term loans or subscribe to their bonds or assist in other ways within the restrictions imposed by the Reserve Bank of India from time to time.
To undertake and guarantee the issue of bonds and debentures and to co-accept the bills of exchange accepted by the Kerala State Electricity Board.
Providing financial assistance by way of short/medium/long term loans etc to proprietary concerns, firms, companies within the State with consistent fianancial track record for installation of 'Power' related equipments like generators, lighting equipments, air conditioning systems, solar water heaters, solar lighting systems and other power related Equipments and accessories.
Providing financial assistance by way of short/medium/long term loans etc to proprietary concerns, firms, companies within the State with consistent fianancial track record for installation of 'Power'related equipments like generators, lighting equipments, air conditioning systems, solar water heaters, solar lighting systems and other power related items etc in their premises.
Providing financial assistance in the form of short term/medium term/long term loans, bills discounting schemes or in any other form to proprietary concerns, firms, companies including public sector undertakings or any other agencies within the state with consistent financial tract record for executing their contracts or projects directly or indirectly connected to any form of infrastructure development within the country



Administrative Setup

The Administrative Setup of the Company is as follows,

Administrative Control - Power Department, Government of Kerala
Chairman of the Company - Secretary (Power) Govt. of Kerala
Board of Directors - Appointed by the Government as per Clause 81 of the Articles of Association of the Company
Managing Director - Appointed by Government



Organizational Structure

The Organizational Structure of the Company is as follows,





Sources of Funds

The major sources of fund mobilization of the Company are,

Fixed deposits
Non SLR Bonds with Government Guarantee
Short term / Long term loans from Banks/ Financial institutions.


Term loan from Banks
Besides this, KSPIFC has also availed funds from the Overdraft facility of Rs.8 crores sanctioned by the Bank of Baroda,Peroorkada Branch. The balance outstanding as on 31.03.10 is Nil.


Financial Performance

The Performance of the Company for the last three financial years
SI No. Particulars As on 31-03-2016
(Rs. in Lakhs)
As on 31-03-2015
(Rs. in Lakhs)
As on 31-03-2014
(Rs. in Lakhs)
1 Revenue from operations 514.61 415.17 665.32
2 Other Income (including prior period income) 258.06 298.92 301.50
3 Total Revenue 772.67 714.09 966.82
4 Employee benefit expense 27.04 23.41 23.60
5 Finance costs 60.33 0.00 99.57
6 Depreciation and amortization expense 19.11 11.77 11.53
7 Other expenses 20.65 41.91 90.80
8 Provision for Doubtful Expense 44.63 0.00 0.00
9 Total Expenditure 171.77 77.09 225.50
10 Profit before tax 600.90 637.00 741.32
11 Tax expense 214.25 222.09 244.49
12 Profit after tax 386.65 414.91 496.83


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