Good morning and a very warm welcome to all distinguished guests, dignitaries, senior executives from banking and financial institutions, and esteemed colleagues. It gives us immense pleasure to welcome you to the second Lenders Meet of NLC India Limited. Your continued trust and support have been instrumental in the growth of NLCI as we proudly celebrate 70 years of dedicated service and nation-building. We look forward to strengthening our valued partnership and exploring future opportunities together. As we commence the formal proceedings of the second Lenders Meet, with immense respect, I invite our esteemed dignitaries to ascend to the dais. May I request you to extend a warm round of applause as I invite Sri Prasanna Kumar Motupalli, Chairman and Managing Director, NLC India Limited; Dr. Prasan Kumar Achara, Director of Finance, NLC India Limited; Sri Rajesh Pratap Singh Sisodia, Director Projects and Planning; Shri Prem Anubha, Deputy Managing Director, SBI; Sri Rajesh Kumar Agarwal, Director of Finance, Power Finance Corporation Limited; Shri Sandeep Chopra, Head of Corporate Coverage, SMBC India; and Mr. Wolf Mut, Country Head India, KFW. Once again, a very warm welcome to the dignitaries on and off the dais. We are honored and overwhelmed by your presence today. Today's meet marks a significant occasion as we come together with our valued banking partners, financial institutions, and key stakeholders for a meaningful engagement on NLCI's strategic growth vision and future expansion plans. The continued support of the financial community has been instrumental in enabling NLCI to pursue its growth with confidence and resilience. Your presence here today reflects the strong and enduring partnership that NLC India Limited shares with the banking and financial fraternity. Now, it is my privilege to invite our CGM Finance, Sri Deal, Head of Corporate Treasury, to kindly deliver the welcome address. You're welcome, sir.
Head of Corporate Treasury
3:16 ↗
Respected Chairman and Director, Managing Director of NLC, functional directors of NLC, distinguished bankers, representatives of financial institutions, esteemed guests, senior officials of NLC India Limited, ladies and gentlemen, a very good morning to all. On behalf of NLC India Limited, it gives me immense pleasure to extend a warm welcome to each and every one of you at the second Lenders Meet 2026. We are delighted to host you today and sincerely thank you for taking time out of your busy schedules to join us here in Mumbai. Once again, I warmly welcome each one of you to the second Lenders Meet of NLC and wish you all a very productive and engaging session.
Thank you very much, sir. Your insightful welcome address has set the tone for today's celebration. Ladies and gentlemen, it's now my honor to invite our beloved Director of Finance, Dr. Prasan Kumar Achara, to kindly felicitate our respected Chairman and Managing Director, Sri Prasanna Kumar Motupalli. Now I request our Executive Director of Finance, Shri Ashokumar Mali, to felicitate our dignitaries on the dais: our Director of Finance, Dr. Prasan Kumar Achara; our esteemed Director Projects and Planning, Sri Rajesh Pratap Singh Sisodia; Deputy Managing Director, Shri Prem Anubha, SBI CAG; our guest of honor, Sri Rajesh Kumar Agarwal, Director Finance, Power Finance Corporation Limited; our guest of honor, Shri Sandeep Chopra, Head of Corporate Coverage, SMBC; and last but not least, our guest of honor, Mr. Wolf Mut, Country Head India, KFW.
Good morning, ladies and gentlemen. Respected CMD sir, respected Director of Projects and Planning, DMD SBI, Director of Finance PFC, country head SMBC, and KFW country head, all dignitaries on the dais. It gives me immense pleasure to welcome all of you to the second Lenders Meet of NLC India Limited. I extend my sincere gratitude to each one of you for taking time to participate in this lenders meet event here in Mumbai. At the outset, I would like to place on record our deep appreciation for the continued trust, confidence, and support extended by the banking fraternity to NLCI over the years. Your partnership has played a vital role in supporting NLCI's growth journey and enabling us to contribute meaningfully to the nation's energy security and infrastructure development. NLC today stands as one of the leading integrated energy companies of the country with a strong presence across mining and power generation. We are pursuing ambitious growth plans with focus on thermal power, renewable energy, extension of mining capacity, battery energy storage system, pumped storage system, critical mineral mining, and other sustainable energy initiatives directly through NLCI and also through JV modes. Our strategic road map aligns closely with the Government of India's objective of ensuring energy availability, energy transitions, and long-term economic growth for Viksit Bharat 2047. As we are marching towards Maharatna company, NLC is undertaking several major expansion projects across the country aimed at significantly enhancing our generation capacity and operational footprint. I'm happy to share that our company continues to demonstrate strong operational and financial resilience over the years. Despite challenges in the business environment, NLCIL has consistently delivered robust physical and financial performance backed by operational efficiency, prudent financial management, and disciplined execution of projects. Our Ghatampur thermal power project is the best example of our perseverance to overcome any challenges. Two units have already been commissioned and the third unit is expected to achieve COD soon. Our latest financial results reflect healthy growth in revenue, profitability, and overall financial strength, reaffirming the company's sound fundamentals and long-term sustainability. NLCI and its subsidiaries are rated consistently high by the credit rating agencies. We have always believed that a strong and transparent relationship with lenders is essential for driving the company's growth strategy. At NLCI, transparency, professionalism, and timely communication remain the cornerstone of our engagement with all stakeholders. We value our banking partners not merely as lenders but as long-term strategic partners in our growth journey. In line with our commitment towards fairness and inclusiveness, NLCIL follows a transparent approach in its banking relationships by providing opportunities to government banks, financial institutions, private sector banks, small finance banks across various business areas including loans, deposits, transaction banking, and other banking products and services. We believe such an inclusive and competitive approach strengthens institutional partnerships while ensuring mutual growth and value creation. This lenders meet has been organized with the objective of deepening our engagement with all of you, sharing our future plans, understanding evolving financial market perspectives, and exploring opportunities for greater collaboration. I am confident that today's deliberations will further strengthen the relationship between NLCI and the banking community. Before I conclude, I once again extend my heartfelt thanks to all our banking partners for your continued support, encouragement, and confidence in NLC. Your participation in this event is deeply appreciated and reflects the strength of our long-standing association. Through these personal interactions, we will be able to gather further inputs to improve our system processes, approach in a much more collaborative manner to explore more mutual benefits in this journey ahead. I wish the event great success and look forward to continued collaboration in years ahead. Thank you very much.
Thank you very much, sir, for your insightful address. Your valuable thoughts and guidance have truly enriched this gathering. It is now my proud privilege to invite our guest of honor, Shri Prem Anubha, Deputy Managing Director, State Bank of India (SBI). Shri Prem Anubha is a seasoned banking professional with over three decades of rich experience across retail, corporate, and international banking. Having held several key leadership positions within SBI, including overseas assignments, he is widely respected for his strategic vision and extensive banking expertise. We are honored by his presence today and look forward to his address. So, may I kindly request you to deliver your address.
Good morning, respected Mr. Prasanna, Mr. Achara, team NLC, fellow lenders. In our childhood, we used to have a general knowledge question: where in India is lignite produced? We learned it very early—it was Neyveli. Several years later, I had the opportunity of visiting Neyveli, and what a marvel you have created. In the afternoon, we had the event, and in the evening, you had a cultural program. A good population was there in that cultural program, and I felt really great to be a banker and to get an opportunity to know about Neyveli and the kind of marvel you have created there. And one more thing: anybody who has not visited your guest house—it is fantastic. So ever since then, I thought of going there again. I could not go, but you came to Mumbai. So thanks a lot. Thanks a lot for coming here. And the reason I could not go is because you did not limit yourself to Neyveli. You are all over India now. 51 MTPA of mining capacity, 1.7 GW of renewables, 3.5 GW in the making. By 2030, you plan 10 GW renewables. Mind-blowing. Absolutely mind-blowing. So, my best wishes to all the lenders, team NLC, and really thanks to NLC for respecting the partnership of banks and FIs. I wish the best to this second lenders meet. Thank you.
Thank you very much, sir, for your insightful address and valuable perspectives. It is now my proud privilege to invite our guest of honor, Sri Rajesh Kumar Agarwal, Director Finance, Power Finance Corporation Limited, to address this distinguished gathering. Sri Rajesh Kumar Agarwal is a distinguished finance professional with over 31 years of experience in the power and finance sectors, with expertise in corporate accounts, taxation, fund management, fundraising, banking, and financial reporting. He has played a significant role in driving financial excellence and digital reforms across leading power sector organizations. We are honored by his presence today and look forward to his valuable address and insights. You're welcome, sir.
Thank you very much. First of all, I am thankful to the NLC family to invite me on this wonderful occasion. There are two Prashnas on the dais. This Prashna reflects the happiness level of Neyveli. And of course, there are two Rajeshes also. So, sir, today is truly a nostalgic moment for me. Why? Because you will be happy to know that I have visited Neyveli three times, and that was the occasion more than a decade ago when a leadership program was organized by NLC under the aegis of Manu Shakti, under the direction of Mr. Vinay Kumar, and I was one of the faculty for more than three or four programs over there. At that time, what I observed there, not a single employee I could see who was not happy, and that happiness is reflected by two Prashnas here. So I request one round of applause for the NLC family and their happiness level. When we were sitting on the round table, Rajesh S has shared one very interesting fact about Neyveli: that the AQI level at Neyveli is only 40. AQI 40, mining. There are no other worries. So that is wonderful to know. And when I visited there, I have seen how the Neyveli family is making the journey on the path of progress. Till 50 years, it remained a B company, and in the last 20 years, see the journey: it has become A, then Mini Ratna, then Navratna, now all set for Maharatna. This is the kind of growth and confidence apart from numbers they have earned. They are now organizing lenders meets that look, we are growing, join us, you have equal opportunity to grow with us. So we truly regard that confidence level as a lender. What could be a happier moment for us that NLC is growing in numbers, in capacity, in future prospects all around? You are growing, and today the world is talking about green and clean energy that Neyveli is providing to the country from the last 70 years. The lush green area, the maintained greenery around Neyveli is the proof that they have been producing green and clean energy since the last 70 years, maybe talking about the last 20 years. So that kind of legacy is there. A lot of known faces are here. I am truly obliged. Some of the magical numbers I have experienced that time and today also I was recollecting: more than 8,000 MW under operation and in various stages of planning and construction around 20,000 MW. That shows the powerful journey of Neyveli Lignite, and we as a lender are very much confident and happy to have a strong association with a company like Neyveli Lignite. PFC is also growing in terms of numbers and size. Whenever we are talking about PFC nowadays, the first and only question is being asked: when are you going to merge with REC? So that merger is a process; we are still big and we will be bigger, but undoubtedly we will always be playing as a development partner of Neyveli Lignite. On behalf of Power Finance Corporation, I assure Neyveli Lignite for a prolonged, fruitful, and valuable relationship. The sector has seen a lot of change. In 1947, we were having around 1,500 MW. Today, we are sitting with 525,000 MW, and Neyveli as one of the oldest, I think one of the first central sector thermal power PSU, then I think I will be correct because prior to Neyveli, only DVC was incorporated, that was hydro-based, but in thermal, Neyveli is the first power PSU who has shown the culture of thermal power generation in a clean environment. I wish all success and all the landmark achievements in Neyveli's aspirations and dreams to come true. You have seen the journey of no power to no power cut, and Neyveli is a partner of it.
Thank you, sir, for beautifully describing NLC and sharing your memorable experience there. Your words truly reflected the unique charm, warmth, and significance of NLC. Ladies and gentlemen, it's now my privilege to invite our guest of honor, Shri Sandeep Chopra, Head Corporate Coverage India, Sumitomo Mitsui Banking Corporation, to address this gathering. Shri Sandeep Chopra is a seasoned banking professional with nearly 30 years of extensive experience in corporate and institutional banking. Prior to joining SMBC, he has held leadership roles with reputed global banking institutions including DBS Bank India Limited and Royal Bank of Scotland. Ladies and gentlemen, please join me in welcoming Shri Sandeep Chopra to deliver his address.
Thank you. Thank you very much. A very good morning to all the distinguished guests. Honorable Chairman and Managing Director Mr. Prasanna, honorable Director of Finance Mr. Achara, all the honorable dignitaries on the stage and everyone here. What we saw in this video was truly remarkable. That's the first time I have seen it. I have not been to Neyveli, so I'm sitting amongst people who've been there more than once. So I really look forward to an occasion to visit that place. But the video that we saw taught us what vision and determination can do. The story of NLC India is in many ways the story of India itself—of how we started as a nation, how you started as an organization, and what you've achieved over this period of time. So let me congratulate you, sir, on completing 70 glorious years of energizing this nation. It's really been a remarkable journey. FY 25-26 is yet another feather in your cap and I'm sure there are many more to come. The numbers that you've achieved so far, the history that you have, truly reflect the credibility that you have built in this market and the way you've transformed yourself. Credibility is also represented by all the people who are here who are attending this. So congratulations. SMBC is one of the world's largest banks. We have a history of close to 150 years as a bank present in 38 countries in the West, Asia, of course Japan. In India, we've been here for about 14-15 years. And when we embarked on this journey in India, we were guided by a very clear mission, vision, objective to be a long-term partner of one of the world's most dynamic and rapidly evolving markets by leveraging our global expertise, by building deep relationships with organizations like yours, and understanding the local ecosystem deeply. We are glad to have been able to play a very small part in your journey so far and we hope to continue our association in the future. The needs of this particular industry are of course huge. Financial innovation, diversification of resources—these become key and this is the need of the hour. India's energy transition itself is very ambitious. We've got short-term goals which we hopefully will exceed. We've got goals of net zero which again we will hopefully exceed in terms of timelines that we've set ourselves. Your targets are again equally if not more ambitious and I'm sure you'll achieve them. You were talking about 10 GW by 2030, 32 GW by 2047, and I'm sure you'll revise these targets because you'll achieve and exceed them much before time. I'll just like to maybe end by saying no one gets honored for what they receive. Honor is a reward for what they give. You have truly given a lot to India, a lot to society. So thank you very much and congratulations once again.
Thank you, sir. Thanks for your valuable, remarkable, and memorable comments about the macro level of understanding of NLCI and our country. So now, it is my privilege to invite Sri Wolf Mut, the Country Director India, KFW Development Bank, to address this distinguished gathering. Sri Wolf Mut brings with him over 30 years of rich experience within the KFW group, having held several key relationship positions across international development finance and renewable energy sectors. Prior to his current role in India, he served in senior assignments across North Africa and Egypt. We are honored by his presence today and look forward to his valuable address and insights. You're welcome, sir.
First of all, thank you very much for the invite and also thank you very much, honorable Mudali, honorable Director of Finance Achaya, and ladies and gentlemen, a great honor for me to be here for this lenders meet. Someone mentioned also a kind of family, and if I look around, I mean I see a lot of esteemed partners from KFW's activities here. As I said, to continue to contribute from KFW's side to the further development on sustainable growth and the energy transition—that is one of our utmost targets, and therefore it's great to be here and to share our views and look forward in the future. But before I look into the future, let me get back to some kind of history. We saw some very nice pictures from the past, from the beginning, black and white pictures, and it also reminds me my father-in-law—he was also for six months working as an engineer in the 60s at the Kalaikunda power plant, steel plant. I think everybody knows the history of this factory, and therefore it's also great pleasure for me now to serve here in India and to work in India with India, 60 years after he was engaged here in India. My term is actually coming to an end in July, but I'm looking back to fantastic years. And if I look here on what is on this sheet, we are talking about growth vision, we are talking about project expansion plans, we are talking about future financing opportunities. So it's a perfect environment for bankers, for financiers, because if you're dealing in such an environment, you have a lot of opportunities, and that is actually very much motivating. Also, if I look to my office here in Delhi, we are 25 people on the ground—it's by far the biggest office from KFW abroad, but it shows the dynamic, it shows the options we do here in India, and that actually makes me very optimistic looking forward. We also talked about Neyveli—I also belong to the people who haven't been there yet, but there is a chance to be there in the beginning of July. Also, our board member from KFW will join me and we will have a visit to the Neyveli site in Tamil Nadu. We will be there in the beginning of July. Why we are also visiting is because we just recently signed a 100 million loan with NLC. It's actually not the first transaction. The first transaction was actually in the beginning of the 90s. So we have a long relationship and we are very happy to actually renew our activities. In the 90s, of course, it was not renewable energy; we were actually financing mining equipment. So the world has changed in the meantime. In general, we have to admit the global landscape is rapidly evolving. The traditional international order is shifting, the climate crisis is intensifying, and Asia's geopolitical economic influence is growing. In this context, the partnership between India and Germany offers a unique opportunity to address global challenges through sustainable investments, particularly by leveraging blended finance mechanisms to support long-term infrastructure and transformation. Let me just briefly refer to the so-called Indo-German Green and Sustainable Development Partnership. It was launched in 2022 by Prime Minister Modi and our chancellor at that point of time. The GSDP is a comprehensive bilateral framework designed to strengthen cooperation on climate action and sustainable development. Germany has committed at least euro 10 billion till 2030. This kind of agreement is unique; we don't have this with any other countries worldwide. So it gives us some security or some planning horizon for the next remaining five years. Five years have already been covered, almost half of it, and this financing security gives us also security to move ahead with investments into renewable energy. We currently have an ongoing portfolio of about 8 billion here in India, where half of it is in the renewable energy sector. So I only can repeat what I've said in the beginning. There are yet a lot of opportunities, a lot of options. We have wonderful partners, highly esteemed partners, and we are very much committed to continue this partnership and to contribute as much as possible. Thank you very much.
Thank you very much, sir, for your insightful address and valuable perspective. With this, we conclude the guest of honor addresses—an enlightening segment that has significantly enriched this gathering through the sharing of valuable insights, experience, and perspectives. We are deeply honored to have amidst us the visionary leader of NLC India Limited, our esteemed Chairman and Managing Director, Sri Prasanna Kumar Motupalli. His dynamic leadership, strategic vision, and unwavering commitment continue to guide NLCIL towards sustained growth and excellence. With profound respect, I now request our respected CMD sir to kindly deliver the presidential address.
