NALCO: Growing with Purpose, Delivering with Passion
NALCO setting new milestones with Record-breaking achievements: CMD
By Sukant Mohanty
Bhubaneswar, Sept. 27 : In the 43rd Annual General Meeting held here on Friday through Virtual mode, the shareholders of National Aluminium Company Limited (NALCO), the Navratna CPSE under the Ministry of Mines, Govt. of India, have approved the Annual Accounts for 2023-24 with a sales turnover of Rs.13,149 crore, net profit of Rs.2,060 crore and an export turnover of Rs. 4,275.73 crore.
The shareholders also approved a final dividend of Rs.2 per equity share (40% on face value of Rs.5/- each) amounting to Rs.367.33 crore for the FY 2023-24. Thus, total dividend paid during the year amounts to Rs.918.32 crore, which is 45% of PAT
Among the notable achievements of FY 2023-24, the Aluminium major NALCO achieved highest-ever Bauxite excavation and produced 21.24 lakh tonne Alumina Hydrate operating beyond 100% capacity utilisation. Similarly, on the sales front, the company has registered the highest-ever metal sale of 4.70 lakh tonne and the Aluminium Smelter plant achieved highest ever cast metal production of 4.63 lakh MT in the FY 2023-24.
In FY 23-24, NALCO has developed & operationalized its Utkal D coal block and has also produced 2 million tonnes of Coal, which is the peak rated capacity of the mine. It may be mentioned that with operationalization of Utkal D & E and signing of lease agreement for Pottangi Bauxite mines, the Company has achieved strong energy and raw material securitization for next 30 years.
Addressing the shareholders on the occasion, Shri Sridhar Patra, CMD of NALCO, conveyed his heartfelt appreciation for the dedication and commitment of NALCO team, unwavering support, trust and confidence of shareholders, which has led to record-breaking metal production and impressive sales figures. He also expressed that there were some setbacks due to economic and geopolitical landscape, issues arising from fluctuating commodity prices to evolving environmental regulations, but these challenges also present the company opportunities for growth and innovation. NALCO has experienced growth across various areas in FY 2023-24 aligned with the goals of Atmanirbhar Bharat and Viksit Bharat, he said.
NALCO is dedicated to drive forward India’s industrial prowess and economic resilience. The future holds immense possibilities for NALCO, as we continue to align our strategies with global trends and national priorities, ensuring that we remain at the forefront of the aluminium industry, said Shri Patra.
Shri Patra, further informed that the company has successfully executed the mining lease of Pottangi Bauxite Mines (having mineable reserve of 111 million MT) with the Government of Odisha for a period of 50 years. He also outlined about the various growth and brownfield expansion projects of the company including operationalization of the remaining allotted coal Block in Odisha.
In his concluding remarks, Shri Patra said that NALCO is poised to grow with purpose and deliver with passion and strive towards making the company, a sought-after name globally in the Alumina and Aluminium sector.
