NALCO reports sales turnover of ₹14,171 crore

NALCO is focusing on early completion of the fifth stream refinery project and development of Potangi bauxite mines 

September 24, 2023 01:04 pm | Updated 01:48 pm IST - BHUBANESWAR

Image used for representational purpose only.

Image used for representational purpose only.

The National Aluminium Company Limited (NALCO), a Navratna Central public sector enterprise under the Union Ministry of Mines, reported a sales turnover of ₹14,171 crore with net profit clocking ₹1,544 crore for the financial year of 2022-23.

NALCO’s 42nd Annual General Meeting (AGM) recently approved the company’s annual accounts where it reported an export turnover of ₹4,217 crore.

NALCO Chairman and Managing Director Sridhar Patra commended the company’s achievement of highest-ever production and significant revenue figures.

“The higher input cost, volatility in business environment as well as dynamics of global demand-supply has impacted NALCO’s profit margins, but in spite of the fact the company has registered growth in several fronts in the fiscal 2022-23,” said Mr. Patra.

The shareholders also approved a final dividend of 20% which is ₹1 per equity share. The company had paid a dividend of ₹918.32 crore during the financial year of 22-23.  

NALCO is known as the lowest cost producer of bauxite and alumina in the world. It reported highest-ever bauxite excavation and produced 21.23 lakh tonne alumina hydrate against the normative capacity of 21 lakh tonne — which is 101.1 % capacity utilisation.

‘Highest-ever metal sale’

A NALCO statement says that the company has also registered the highest-ever metal sale of 4.64 lakh tonne which also includes the highest-ever domestic metal sale.

“Though the plants have become more than 40 years old, they have operated beyond 100% rated capacity because of proper upkeep and maintenance,” it said.

The AGM was informed that the focus of the company was now on early completion of the fifth stream refinery project and development of Pottangi bauxite mines and operationalisation of the remaining allotted coal block in Odisha.

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