Consequent to the forthcoming retirement of Prasad Menon on 31 January, Tata Power appointed Anil Sardana as the Managing Director with effect from February. Sardana has been the Managing Director of Tata Teleservices for over three years and Tata Teleservices (Maharashtra) for the last six months.
One of Sardana’s first challenges was to explain, and partly justify, Tata Power’s Q3 2011 results. “All our business divisions have performed well,” he said. “Our operations continue to be stable and the new projects under implementation are progressing well. The quarter performance is in line with the growth target charted out by the company.” The consolidated revenues were flat at Rs 4,201.37 crore. Adding income to be recovered (based on future tariff) of Rs 211.54 crore (down by 30 per cent), the net revenue for the quarter was down by two per cent to Rs 4,412.91 crore.
Tata Power now moves into an exciting stage of commissioning its new projects at Maithon and Mundra. Sardana also considers the recent signing of the PPA with the Gujarat Government for 25 MW of solar power as a significant step in strengthening the company’s renewable portfolio. Further, the acknowledgement and award received for Tata Power Energy Club have been very encouraging and Sardana says he intends to take this movement to newer dimensions.
An electrical engineer from Delhi College of Engineering and a Cost Accountant (ICWAI) from Delhi, with a Post Graduate Diploma in Management, Sardana brings with him over three decades of proven expertise in the power sector; he has worked with companies like North Delhi Power (a subsidiary of Tata Power), NTPC and BSES.