6 June 2018 Over the last year, TPWR has accelerated the pace of sale of non-core assets. The reported consolidated net debt to equity will decline from 2.7x in FY17 to 2.3x post divestments. TPWR is also evaluating the performance of its overseas power assets for possible consolidation/monetization. CGPL continues engaging beneficiaries for a sustainable resolution of partial under- recovery of fuel cost. CGPL is optimizing fuel cost by blending of low GCV coal, which is available at a steeper discount. CGPL is also in discussion with DISCOMs to sell power beyond minimum commitment of 80% at merchant tariff. The regulated PPA for the Trombay power plant with BEST is valid until March 2019 (after the recent extension by one year). BEST is seeking competitive bids, but, based on the initial results (two rounds have been completed), the competitive price may be higher than regulated supply by Trombay.