Bhubaneswar: National Aluminium Company Limited (Nalco), the Navratna CPSE, under the Ministry of Mines, Government of India, has surpassed several milestones in its journey of business excellence during the Financial Year 2021-22.
Showing robust performance across all its business units, the company has posted its best-ever annual production and sales in FY21-22, registering the highest-ever revenue from operations and the highest ever net profit (PAT) of Rs14,181crore and Rs. 2,952 crore respectively.
Market dynamics have resulted in a multifold increase in turnover and consequent Profit in the fiscal 21-22. The net profit of the company for the financial year 2021-22 has jumped by 227% over the immediate preceding financial year.
During FY 21-22, the Company has achieved bauxite production of 75.11 lakh tonnes from its Captive Bauxite Mines and produced aluminium at its nameplate capacity of 4.60 lakh tonnes for the first time since inception, surpassing all previous records.
Nalco CMD, Sridhar Patra said that the results were driven by strong operational performance coupled with effective raw material procurement and sales strategy, cost-saving measures, supported by a positive business outlook, favourable LME price, and an uptick in global aluminium demand.
Attributing the success to the teamwork and dedication of the employees, Patra further said that the strategic decision with a focus on optimizing production and productivity in spite of COVID restrictions has paid dividends. Patra thanked the senior management team, all employees, unions and associations and all stakeholders for the unstinted support. He further expressed his gratitude to the Ministry of Mines, Government of India, and Government of Odisha, for their continuous support, without which this performance could not have been achieved.