Nalco reports record Net Profit of Rs.2952 Crore in FY22
Achieves Highest-ever bauxite production of 75,11,075 MT and Highest-ever Aluminium cast metal production of 4,60,000 tonnes
Bhubaneswar : In the 41st Annual General Meeting held here today, the shareholders of Navratna CPSE National Aluminium Company Limited (NALCO), have approved the Annual Accounts for 2021-22 with a sales turnover of Rs 14,181crore, and highest ever Profit after Tax of Rs. 2,952 crore. Final dividend of 30% i.e. Rs.1.50 per equity share, recommended by the Board, was also approved. The interim dividend declared and paid and the final dividend approved today, totaling 130% of paid up equity share capital is the highest ever since inception.
In FY 2021-22, NALCO has reported thehighest-ever Aluminium cast metal production of 4,60,000 tonnes by operationalizing all its 960 pots at its Smelter Plant, resulting in 100% capacity utilisation for the first time since inception. Similarly the Mines & Refinery Complex at Damanjodi has reported theHighest-ever bauxite production, registering a benchmark volume of 75,11,075 MT.
Addressing the shareholders through the virtual platform on this occasion, Sridhar Patra, CMD, NALCO, said that FY 2021-22 was a historic year in the journey of business excellence of NALCO. Apart from higher benchmarks in physical and financial performances, the company has achieved unprecedented milestones, breaking several past records since the inception of the Company.
“The spectacular results is a testimony to the extraordinary attitude demonstrated by NALCO collective in the face of pandemic induced adversity. Despite inflation in various input costs, coal crisis, and uncertainty in LME prices, the Company has been able to maintain the status of being the lowest cost producer of Bauxite and Alumina in the World”, he said.
Highlighting about the ongoing future plans of the company, Patra said that the company is hopeful for operationalization of Utkal-D Coal Block in FY 2022-23which will help ease out the coal crisis, which the company is facing at present and provide energy security to the high-power intensive Smelter plant. Shri Patra also informed regarding the commissioning and operationalizing the Caustic Soda plant under Joint Venture mode with M/s. Gujarat Alkalies and Chemicals Ltd. “The first consignment of Caustic Soda has been received at Alumina Refinery and the operationalisation of Caustic Soda plant will further strengthen the much needed raw material securitization of a prime raw material for our Refinery, said Shri Patra.