THE RECEIVABLES RECONCILIATION

 

Two ledgers. Different dues. What has been paid—and what remains outstanding?

Research dossier | By Murthy ASR | Biz Masala

Purpose of this dossier

This dossier maps the public-record trail needed to reconcile Singareni Collieries Company Limited (SCCL)'s reported power-sale receivables with the corresponding regulatory and financial records of Telangana's electricity entities. It is a research-stage document, not a claim that the two sides of the ledger have already been reconciled.

The central caution is essential: SCCL's receivable, a distribution company's payable, a regulator-approved power-purchase cost and cash actually paid are related but different measures. They may differ because of billing dates, disputed tariff components, true-up adjustments, late-payment surcharge, accounting classifications and subsequent receipts. A reliable reconciliation must identify these differences rather than force the numbers to match.

What is established in the currently available record

Public-record lead	What it establishes	What it does not establish
SCCL Annual Report & Accounts 2024–25	SCCL disclosed ₹13,846.61 crore in gross power-sale receivables as at 31 March 2025; ₹1,767.30 crore was identified as credit-impaired; bills discounted were separately disclosed.	It does not by itself establish the current balance, full ageing, actual subsequent collections or the amount legally undisputed.
TGERC power-purchase true-up filings	The regulator lists FY2022–23 and FY2023–24 power-purchase true-ups and FY2024–25 true-ups for TGSPDCL and TGNPDCL.	A true-up is a regulatory cost/revenue determination, not a statement of the cash paid to SCCL.
SCCL thermal plant tariff proceeding	TGERC lists SCCL's OP No. 64 of 2025 concerning FY2024–25 true-up and FY2026–27 tariff proposal for the 2x600 MW Singareni Thermal Power Plant.	A tariff proceeding alone does not reconcile individual invoices or payments.
Separate coal-supply dues	Prior SCCL monthly reporting was cited as showing coal-supply dues attributed to TGGENCO.	Those dues must not be combined with power-sale receivables without invoice-level and accounting reconciliation.

The reconciliation map

Ledger A — SCCL power sales: Extract gross receivables, ageing, credit-impaired balances, provisions, discounted bills, disputed tariff items and subsequent receipts from SCCL's audited accounts and latest filings.

Ledger B — TGSPDCL and TGNPDCL: Extract the counterparties' audited trade payables, power-purchase expense, SCCL-specific balances where disclosed, payment schedules, disputed invoices and subsequent settlements.

Ledger C — Regulatory adjustments: Read TGERC true-up orders and filings for FY2022–23, FY2023–24 and FY2024–25. Separate approved costs from claimed costs, disputed amounts and tariff adjustments.

Ledger D — Cash movement: Use payment records, bank/payment schedules where publicly disclosed, annual-account cash-flow notes and month-end statements to identify amounts paid after 31 March 2025.

Ledger E — Coal sales: Keep coal invoices and dues separate from electricity invoices. Reconcile TGGENCO coal-supply payables, SCCL coal-sale receivables, dispatches, invoices, credit notes and receipts independently.

The first comparison table to complete

Item	SCCL record	DISCOM record	Regulatory record	Status
Power-sale balance at 31 Mar 2025	Gross receivable disclosed; exact ageing to verify	Counterparty balance to extract from audited accounts	FY2024–25 true-up filings/orders relevant	Not yet reconciled
Collections after 31 Mar 2025	Latest subsequent-receipt disclosure required	Payment schedule and subsequent payments required	Possible adjustments in true-up proceedings	Not yet established
Disputed tariff/premium items	SCCL reports provision and appeals	Counterparty treatment to check	Appeal/order status to verify	Requires legal/regulatory check
Discounted bills	SCCL reports ₹1,921.75 crore discounted	Check whether payable remains recognised and how treated	Not ordinarily settled by tariff order alone	Accounting terms need review
Coal-supply dues to TGGENCO	Separate SCCL coal-sale receivable ledger required	TGGENCO payable and ageing required	Coal supply contracts/related filings if available	Keep separate from power sales

Questions the documents must answer

1.       What was the gross power-sale receivable at 31 March 2025, broken down by age and counterparty?

2.       What did TGSPDCL and TGNPDCL report as payable to SCCL at the same date, and are the figures comparable in scope?

3.       What collections were recorded after year-end, through the latest publicly available reporting date?

4.       How much relates to disputed premium disallowances or other tariff issues, and what is the latest appellate status?

5.       How are discounted bills reflected in SCCL's balance sheet and in the distribution companies' records?

6.       What amounts of coal-supply dues to TGGENCO are separate from power-sale receivables, and how much has been paid since the cited monthly report?

7.       Do auditors disclose confirmations, unreconciled differences, related-party balances or material uncertainty in the relevant annual accounts?

8.       What do TGERC's true-up orders finally allow, disallow or defer—and what is still under appeal?

Regulatory trail: priority files

TGERC ARR filings and archives: https://www.tgerc.telangana.gov.in/arrfilings.php — Lists TGSPDCL and TGNPDCL power-purchase cost true-ups for FY2022–23, FY2023–24 and FY2024–25, plus SCCL's thermal plant proceeding.

TGERC current-year tariff orders: https://www.tgerc.telangana.gov.in/currentyearorders.php — Lists orders covering the DISCOM power-purchase true-ups and SCCL's OP No. 64 of 2025.

SCCL Annual Report & Accounts 2024–25: https://scclmines.com/scclnew/arti.asp?rt=169.PDF — Primary source for SCCL's disclosed power-sale receivables and auditors' key audit matter.

SCCL Annual Report & Accounts 2023–24: https://scclmines.com/scclnew/arti.asp?rt=160.PDF — Prior-year revenue breakdown for coal and power sales.

TGSPDCL official website: https://tgsouthernpower.org/ — Official source for filings and reports of the southern distribution company.

Findings so far—and the limits

The available record establishes that SCCL disclosed material power-sale receivables at 31 March 2025 and that the regulatory system has proceedings covering power-purchase true-ups for the relevant years. It does not yet provide a completed invoice-level or counterparty-level reconciliation. No current total of collected versus unpaid amounts should be asserted until the latest audited accounts, true-up orders and subsequent payment records have been examined together.

The existence of receivables, regulatory disputes or differences between accounts does not prove wrongdoing. The purpose is to test whether the public records reconcile, identify the reasons for any differences, and establish what remains outstanding.

Editorial and verification checklist

·       Use a common reporting date for SCCL and each counterparty.

·       Separate billed amounts, recognised receivables/payables, regulator-approved costs, disputed sums and cash payments.

·       Record source page/paragraph and reporting date for every number.

·       Do not add coal dues to power-sale receivables.

·       Do not label a receivable as a loss or as fully overdue without supporting evidence.

·       State explicitly when a counterparty figure is not publicly disclosed or could not be reconciled.

·       Give entities a fair chance to respond if a specific, material discrepancy is established; do not make publication dependent on a response.

Editorial note: This is a research dossier based on the public filing trail identified above. It is not yet a completed reconciliation or a claim of wrongdoing. All figures should be checked against the full underlying filings and updated for subsequent collections before the final article is published.

 

BIZ MASALA

BUSINESS. MONEY. POWER.

Murthy ASR