NALCO reports sales turnover of ₹14,171 crore
The Hindu
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.
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.
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.
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