The world’s lowest cost producer of alumina in the World, (as per the Wood Mackenzie report), NALCO continued its stellar performance in the last fiscal by registering a growth of 29% in its net profit.
A Navratna PSU under the aegis of Ministry of Mines, Government of India, NALCO registered a net profit of Rs. 1732 crore for FY 2018-19.
In 4th quarter the Company earned a net profit of Rs. 233 crore and during the year, the Net sales turnover of the company was Rs.11,386crore registering a growth of 21% over last year said an official release from the company.
Export earnings also registered a growth of 18%.
With 100% capacity utilization, NALCO’s Panchpatmali Mines achieved Bauxite excavation of 74.14 lakh MT, which is said to be the highest ever since inception.
Ranked as the Lowest-cost Producer of Bauxite in the World for the year 2018-19, NALCO’s Bauxite transportation went up to 72.31 lakh MT, which is also said to be highest ever since its inception.
The Company’s Alumina Refinery produced its highest-ever 21.53 lakh MT of Alumina Hydrate and set a new record while Steam & Power Plant (SPP) of Alumina Refinery achieved highest ever net power generation.
Further, Aluminium Smelter achieved highest cast metal production of 4.40 lakh MT in last 8 years. NALCO’s Smelter produced its highest-ever Wire rod, billet, green anode, rodded anode, T-Ingot since inception. Wind power generation of 363 MU is also highest ever since inception. In short, year 2018-19 has been a year of new records in production since inception said the release.
On the domestic front NALCO had a strong performance too which is highest-ever since inception.
As per the release total metal sale of 4.41 lakh MT registered a growth of 3.5% over last year and also Domestic sale of metal of 4.02 lakh MT registering a growth of 14.9% over last year are highest ever since inception.
As per the Public Enterprise Survey of Department of Public Enterprises (DPE), the Company was rated as the 3rd Highest ‘Net Foreign Exchange Earning CPSE’ in the Country for the year.
NALCO achieved the distinction of becoming the lowest cost producer of alumina in the World, as per the Wood Mackenzie report, for three consecutive years.
Industry analysts attribute NALCO’s splendid performance to the implementation of its New Business Model undertaken in 2016 by its current CMD DR TK Chand.