Annual Reports 2019-20
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CONTENTS 1. Board of Directors .................................................................................................................................... 2 2. Chairman’s Speech ................................................................................................................................... 3 3. Key events during 2019-20 ....................................................................................................................... 4 4. Directors’ Report ...................................................................................................................................... 6 5. 10 Years Digest at a Glance .................................................................................................................... 30 6. Standalone Financial Statements ............................................................................................................ 31 7. Auditor’s Report on Standalone Financial Statements ........................................................................... 90 8. Comments of the Comptroller & Auditor General of India on Standalone Financial Statements ......... 98 9. Consolidated Financial Statements ....................................................................................................... 100 10. Auditor’s Report on Consolidated Financial Statements ...................................................................... 161 11. Comments of the Comptroller & Auditor General of India on Consolidated Financial Statements .... 168 12. Subsidiary Company - Delhi Metro Last Mile Services Limited ......................................................... 170 Statutory Auditors M/s KPMR & Associates Chartered Accountants New Delhi Secretarial Auditors M/s S. Behera & Co. Company Secretaries New Delhi Company Secretary Shri S. K. Sakhuja Registered Office Delhi Metro Rail Corporation Ltd. Metro Bhawan, Fire Brigade Lane, Barakhamba Road New Delhi - 110 001, India Board No. : 23417910/12 Fax : 011-23417921 Website : www.delhimetrorail.com CIN : U74899DL1995GOI068150 1 BOARD OF DIRECTORS Shri Durga Shanker Mishra Chairman, DMRC Ltd. & Secretary, Ministry of Housing & Urban Affairs, Nirman Bhawan, New Delhi-110011. Dr. Mangu Singh Managing Director, DMRC Ltd., Metro Bhawan, Fire Brigade Lane, Barakhamba Road, New Delhi-110001. Shri Anurag Jain Director, DMRC Ltd. and Vice Chairman, Delhi Development Authority, Vikas Sadan, New Delhi-110023 Ms. Archana Agrawal Director, DMRC Ltd. & Member Secretary (NCRPB), Ministry of Housing & Urban Affairs, India Habitat Centre, New Delhi-110003. Shri Kamran Rizvi Director, DMRC Ltd. and Additional Secretary (D&UT), Ministry of Housing & Urban Affairs, Nirman Bhawan, New Delhi-110011. Shri D.K. Saini Director (Project & Planning), DMRC Ltd., Metro Bhawan, Fire Brigade Lane, Barakhamba Road, New Delhi-110001. Shri K.K. Saberwal Director (Finance), DMRC Ltd., Metro Bhawan, Fire Brigade Lane, Barakhamba Road, New Delhi-110001. Shri Daljeet Singh Director (Works), DMRC Ltd., Metro Bhawan, Fire Brigade Lane, Barakhamba Road, New Delhi-110001. Shri S. S. Joshi Director (Rolling Stock), DMRC Ltd., Metro Bhawan, Fire Brigade Lane, Barakhamba Road, New Delhi-110001. Shri A. K. Garg Director (Operations), DMRC Ltd., Metro Bhawan, Fire Brigade Lane, Barakhamba Road, New Delhi-110001. Shri O. H. Pande Director (Electrical), DMRC Ltd., Metro Bhawan, Fire Brigade Lane, Barakhamba Road, New Delhi-110001. Shri P. K. Garg Director (Business Development), DMRC Ltd., Metro Bhawan, Fire Brigade Lane, Barakhamba Road, New Delhi-110001. 2 CHAIRMAN’S SPEECH Dear Shareholders, It is an honour to welcome you all to the 25th Annual General Meeting of the Company. The Directors’ Report and the Audited Annual Accounts for the Financial Year 2019-20, the Statutory Auditors’ Report along with the comments of the Comptroller and Auditor General of India thereon, have already been circulated to all of you and with your permission, I take them as read. The Company has completed 25 years of its existence and has scripted history to create one of the world’s most modern and efficient Metro Systems. On this occasion, I salute each and every stakeholder who contributed in this journey. A special mention must be made about first Managing Director, Dr E. Sreedharan, the Metro Man, who played an iconic role in implementing this project. In fact, every labourer, every worker deserves a special mention. The Company now operates a network of 389 km making it one of the largest operating networks in South East Asia. During the year, the passenger journeys stand at an average of approximately 6 million per day. It shows how the metro network is easing the commuting experience for Delhi NCR. I would like to reassure that the Company is sparing no efforts in delivering highest quality services. The Company has also taken up consultancy assignments in India and abroad. Further, under Phase IV, the Company is now looking forward to an expansion of about 107 km with an objective to bring unconnected areas of Delhi on the Metro map. Out of this 3 corridors of 61.68 km have been sanctioned and construction work has also started. Adherence to safety norms and measures to preserve the environment, have been the hallmarks of the Company’s journey so far. In line with the Make in India initiative of the Govt. of India, the Company is concentrating on indigenising a number of critical imported spares used for manufacturing as well as operations of trains. In November, 2019 the Company signed an MOU with Bharat Electricals Limited (a central PSU) for development of indigenous Automatic Train Supervision based signaling system. The Company has been a frontrunner in quantifying climate change benefits from its operations and is the 1st Metro System in the world to earn carbon credits from its Clean Development Mechanism (CDM) projects registered under United Nations Framework Convention on Climate Change (UNFCCC). Further, the Company is encouraging the use of solar energy in all its activities. As at the end of the year, the Company commissioned 33 MWp capacity of roof-top solar plants and has a target to install 50 MWp by 2022. Around 35% of its total energy needs are being met through renewable sources like rooftop solar plants, off-site plants and waste to energy plant. It is a matter of great honour for your Company that on 2nd November, 2019 Ms. Angela Merkel, Chancellor of Germany, visited one of the Company’s solar power plants at Dwarka Sector 21 Metro station. This is recognition of the Company’s role as one of the leading producers of solar power in the transportation sector in the country. I would like to express my deep gratitude and appreciation for the continued faith of our esteemed commuters, the citizens of the NCR, national and international contractors, consultants, business associates, and all others partners in our journey. Engagement and support from each members of DMRC family and my fellow Board Members remains our source of strength. I would like to thank various Ministries and Departments of the Government of India & Government of NCT of Delhi and Japan International Co-operation Agency for their continuous guidance and support in our efforts. Thank you, Sd/- (Durga Shanker Mishra) Place: New Delhi Chairman Date : 12.11.2020 Delhi Metro Rail Corporation Ltd. 3 KEY EVENTS DURING 2019-20 • Dabri Mor - Janakpuri South Metro Station • Solar Power from Rewa Ultra Mega Solar Power pedestrian subway Opened: a pedestrian subway to Project: Delhi Metro started receiving solar power facilitate entry and exit to the Dabri Mor - Janakpuri from Rewa Ultra Mega Solar Power Project at Rewa, South Metro station was opened on 6th August, 2019. Madhya Pradesh on 18th April, 2019. • Delhi Metro Training Institute Upgraded: Delhi Metro Training Institute, functioning since 2002 at Shastri Park Depot was upgraded as the Delhi Metro • Bicycle Stands at Metro Stations: on 21st April 2019, Rail Academy (DMRA) on 18th September, 2019. Delhi Metro introduced space for bicycle stands at its The academy is ISO 9001:2005 accredited for design, Metro Stations having provision of dedicated parking. development and delivery of training programmes. At present, this facility is available at 18 lots at different stations across Delhi Metro Network • Dwarka - Najafgarh Metro Corridor Inaugurated: Dwarka - Najafgarh Metro section of Grey Line was • Power from Waste-to-Energy Plant: Delhi Metro flagged off for passenger operations by Shri Hardeep became the 1st ever Metro project in the country to Singh Puri, Hon’ble Minister of State (Independent receive power generated from a Waste-to-Energy plant Charge), Housing and Urban Affairs and Shri Arvind of M/s East Delhi Waste Processing Company Limited Kejriwal, Chief Minister of Delhi in the presence of a at Ghazipur, Delhi on 4th June, 2019. host of eminent dignitaries on 4th October, 2019. 4 • Construction Work of Delhi MRTS Phase IV Started: The construction work of Phase IV of Delhi MRTS formally started at Haiderpur Badli Mor on 30th December, 2019. • City Check-in facility launched from the New Delhi Metro Station of the Airport Express Line: Three leading Airlines - Air Asia, SpiceJet and Go Air started city check in facility from the New Delhi Metro Station of the Airport Express Line on 18th November, 2019. Two other Airlines - Air India and Vistara are already operating this facility at the station earlier. • ‘Free High Speed Wi-Fi’ facility launched for Airport Express Line: Delhi Metro launched the ‘Free High