NALCO addressing India’s need for Aluminium: CMD

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   Addressing the share holders on the occasion through the virtual platform, NALCO CMD Mr. Sridhar Patra, said that NALCO as one of the leading CPSE of the country has come a long way in the service of the Nation and powering India’s Mineral Security. The company has not only addressed the need for self-sufficiency in aluminium, but has also given the country a technological edge in producing this metal of the future at par with global standards said Mr Patra.

  He added that despite the turbulent environment, coupled with volatile nature of LME prices and subdued demand for metal, the company has made steady progress by focusing on the 5P’s – production, productivity, people, projects and profit. Amid the Challenging business environment, the year 2020-21 has been a year of accomplishments for Nalco, Mr. Patra said.

                                      Nalco Declares 20% dividend

 Although LME was at rock bottom in Q1; with planned initiatives, along with effective procurement strategies led to a landslide improvement in the bottom-line of the company,” he said.

   Highlighting the future plans of the company, Mr. Patra said that the focus is now on early commissioning of the expansion activities. “With steady progress on the ongoing expansion activities, we are optimistic for commissioning of the proposed one million tonnes per annum 5th Stream of Alumina Refinery expansion by 2023-24”, said Mr. Patra.

  National Aluminium Company Limited (NALCO) declared a final dividend of 20% i.e. Rs. 1 per equity share, during the 40th Annual General Meeting (AGM) of the Navaratna CPSE, held at Bhubaneswar.  The total dividend pay-out for financial year 2020-21 comes to Rs. 644.27 crore, as against Rs. 279.84 crore declared and paid during the previous financial year 2019-20.

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