The rise is despite the Rs 1.2 trillion liquidity window opened by the Centre under the Aatmanirbhar mission. While the liquidity being released by REC and PFC is helping discoms clear their dues to gencos, their overall poor financial position keeps adding to outstanding every month.
Discoms' total outstanding stood at Rs 1.39 trillion (+28 per cent yoy/+3 per cent mom) -- breaching its November 2015 peak of Rs 1.3 trillion.
Discoms in key states -- Rajasthan, Tamil Nadu, Uttar Pradesh, Karnataka, Maharashtra, Jammu and Kashmir, and Telangana -- account for 79 per cent of the total overdue to gencos.
According to an analysis done by Emkay Global Financial Services earlier, discoms' overdues could take a while to moderate as power generation saw a sharp pick-up in October 2020 against which additional receivables could be formed.
However, the improvement in discoms' collection efficiencies and increased disbursement under the Aatmanirbhar scheme should curtail further expansion of overdues, it added.
The Central government has extended the liquidity package under the Aatmanirbhar scheme to Rs1.2 lakh. Till date, PFC and REC have sanctioned loans worth Rs1.18 trillion to discoms. Of this, Rs 31,100 crore worth of loans have been disbursed to 11 states.
As per the brokerages report, among all discoms, the Rajasthan discom has the highest share in the total overdue followed by Tamil Nadu and Uttar Pradesh.
Of the total overdues to gencos, CPSEs have the highest share at followed by independent power producers, state gencos and renewable energy producers.
Among private gencos, Adani Power has the highest share in the total overdue while NTPC has the highest overdue among the CPSEs.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.