Ib Thermal : Odisha Power Generation Corporation Ltd. receives the “Power Generation Company of the Year” award at The Economic Times Energy Leadership Awards 2023. ET Energy Leadership Awards is a part of the prestigious Energy Leadership Summit & Awards 2023, organized by The Times Group and held this year on 20th June 2023 at Hyatt Regency, New Delhi.
OPGC, by virtue of its brilliant operational as well as financial performance, has achieved many business milestones in the last two years which have been taken into consideration by the Jury to select OPGC for this award among many national and state-level power-generating companies. Manas Ranjan Rout, Director (Operations) received this award on behalf of OPGC in New Delhi.
It is to be noted that through scrupulous financial management and cost optimization measures, during the FY 2022-23, OPGC has achieved exceptional profitability with the Highest ever EBIDTA margin of 48%. The Company, which was suffering losses during the last three financial years, has achieved a profit of Rs 1126 Cr. as a result of improved PLF, lowering of operational cost, and finalization of tariff. Focus on improving operational efficiency by improving PLF, lower operational cost, and streamlining processes has resulted in enhanced margins and a sound financial foundation.
In a separate category that recognizes business leaders who have created a positive impact on their organization as well as the industry, the independent jury of ET Energy Leadership Awards has adjudged Director (Operations) Manas Ranjan Rout as the Chief Executive of the Year (Power Sector).