Kulamani Biswal
Shri Kulamani Biswal is a Commerce and law Graduate, fellow in Cost Accountancy and MBA from New Port University, California, USA.
Shri Biswal has flair in financial fundamentals; updated knowledge base and knack in business networking. With rich and varied experience over 30 years in Corporate Finance Management particularly in Coal & Power Sectors, he took over the charge of Director (Finance), NTPC Limited on 9th December 2013.
In NTPC, he plays a pivotal role in providing valuable inputs to the Board for taking various strategic decisions to enable the company to achieve its Vision. He is responsible for the entire gamut of financial management of the organization including financial resource mobilization from domestic & global sources, optimum utilization of funds, budgetary controls, investment decisions and compilation of Accounts and Audit of the same by Statutory and Govt. Auditors.
During his stint as CFO of NTPC and as Board Member, some of the major achievements are raising Fund from Domestic as well as International Market at very competitive terms, Innovative way of rewarding shareholders through issuance of Bonus Debentures – a first of its kind in India by any PSU, allotment and reallocation of Coal blocks, acquisition of Patratu Power Station.
Besides acting as Director (Finance) of NTPC Limited, Sh. Biswal is also the Chairman of Meja Urja Nigam Private Limited & NTPC Tamil Nadu Energy Company Limited. He has also been appointed as "Nominated Owner" under the provisions of Mines Act, 1952 for development/operation and management of Coal Mines allocated to NTPC.
Prior to joining NTPC, he was Director (Finance) in Mahanadi Coalfields Limited (MCL) since October 2010. In MCL, he was responsible for the entire Financial Management of the company including treasury, investments, accounting, internal control systems, budgetary controls and corporate governance. He played a pivotal role in making MCL as second largest coal company in India in terms of production and profitability. His astute financial acumen resulted in optimum utilization of funds amounting to Rs.15,000 crore earning interest revenue at the rate of 10%, reduction in debtors position to just 4 days, settlement of old Income Tax cases, thereby enabling MCL to achieve highest ever Profits during his tenure. Besides Coal production, he took various initiatives towards diversification of business like setting up Thermal Power Generation Plant, Solar Plant, entering into Transmission business and developing logistics for coal evacuation.
He started his career with Coal India Limited in 1985. Later he joined Orissa Electricity Regulatory Commission at Director level in 1997. In 2004, he was appointed as Chief (Finance), Central Electricity Regulatory Commission (at the level of Joint Secretary to the Government of India). In CERC, he played a key role in formulation of Tariff Regulations 2009-14 and formation of new company called POSOCO to take care of System Operation and Load Dispatch activities. He also acted as Internal Financial Advisor in CERC as an added responsibility.