Adani Electricity Mumbai Ltd (Adani Electricity) said it has topped the country’s 71 electricity distribution companies for its overall governance, including financial sustainability, performance excellence and external environment.
In a regulatory filing, the company disclosed that in the ministry of power’s 11th edition of the ‘Annual Integrated Rating & Ranking’ of India’s power distribution utilities, it secured the top rank with ‘Grade A+’ and the highest integrated score of 99.6 out of 100.
The rating report, published on Monday, is prepared by McKinsey & Company and the assessment is based on the accounts of the past three financial years — from 2019-2020 to 2022-2023.
The Annual Integrated Rating & Ranking exercise is carried out by the nodal agency Power Finance Corporation Ltd according to the framework approved by the ministry of power since 2012. It covers 71 power distribution utilities comprising 45 state discoms, 14 private discoms, and 12 power departments across India.
The exercise provides a blueprint for stakeholders to assess performance, identify gaps, measure impact of steps taken and plan ahead.
Adani Electricity said that in the exhaustive evaluation exercise, it emerged as the best and only private utility to be rated in the top five and is also one of 15 discoms to not have any negative marking.
