With reference to the MoU signed with Union Ministry of Mines, Navratna PSU National Aluminium Company Ltd (NALCO) has been awarded ‘Excellent’ MoU score of 1.5 by the Department of Public Enterprises for its outstanding performance in 2012-13, according to the company.
NALCO had last achieved the ‘Excellent’ MoU score in 2006-07. Besides, during 2012-13, NALCO has also been rated as ’Excellent’ with a score of 97.5 for compliance with guidelines on Corporate Governance for CPSEs, a company release said on Friday.
During 2012-13 NALCO has reported a highest ever net sales of Rs 7,247 crore against a target of Rs 7,073 crore.
This represents an increase of 2.46 per cent against the MoU target.
The company reported a net profit of Rs 593 crore with metal sale of 4,03,102 tonnes and alumina sale of 9,84,722 tonnes in the financial year 2012-13, it said.
NALCO also produced highest ever bauxite of 54.19 lakh tonnes and highest-ever alumina of 18.02 lakh tonnes in 2012-13. During the period, the company also generated 6076 units of power from its Captive Power Plant.
NALCO’s significant achievements and activities towards CSR, Sustainable Development and R&D also contributed towards company’s excellent ratings, the release said.
It may be mentioned that as part of MoU on harnessing renewable energy sources, NALCO has entered into a new business of wind power generation with commissioning of 50.4 MW wind power plant at Gandikota in Andhra Pradesh at an investment of Rs 274 crore, which was synchronized in December, 2012 and sale of power has been commenced, the release added.