Bhubaneswar: The recently-released exceptional results of National Aluminium Company Ltd (NALCO) and its business performance over the last 04 years have come in for praise from all quarters, with CMD Dr. Tapan Kumar Chand being awarded the ‘Global Indian Business Leader’ for outstanding professional achievements and inspiring social contributions. On behalf of Dr. Chand, the award was received by Shri Asutosh Rath, DGM (Corporate Communication), NALCO.
Organised by Indian Achievers’ Forum, this award comes on the back of Dalal Street Journal, India’s top rated equity investment magazine, rating NALCO as the fastest growing & high growth PSU in last 5years and Dr. Chand receiving the Roll of Honour for leading the company in growth path & achieving global benchmark of lowest cost producer of Bauxite & Alumina in the world.
Under the stellar leadership of Dr. Chand since taking over as the CMD in July 2015, NALCO has been consistently delivering across all parameters of production, productivity and profitability in the last 4 years, with the Company registering its best performance in a decade by clocking a whopping Rs.1,732 crore net profit in 2018-19.
NALCO has recorded all-round success and global benchmarks in 2018-19. Along with significant achievements on production front, 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. Going a step further, the company has also been ranked as the Lowest-cost Producer of Bauxite in the World for the year 2018-19. In matters of profitability, NALCO is way ahead of its private sector peers by registering EBIDTA Margin of 28%. Industry analysts attribute NALCO’s splendid performance to the implementation of its New Business Model since 2016.