NALCO’s Net Profit for 2018-19 Jumps by 29%

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Bhubaneswar: Continuing its soaring performance, National Aluminium Company Limited (NALCO), a Navratna PSU under Ministry of Mines, Government of India, has once again proved its mettle by registering high in terms of both physical and financial performances. According to the audited financial results for 2018-19, taken on record by the Board of Directors in a meeting held on 30th May 2019 in New Delhi, during the FY 2018-19, NALCO has registered a net profit of Rs. 1732 crore, a growth of 29%, i.e. Rs. 390 crore over last year’s net profit of Rs.1342.19 crore. In 4th quarter the Company has earned a net profit of Rs. 233 crore.  During the year, the Net sales turnover for the year is Rs.11,386 crore registering a growth of 21% over last year. Export earning of Rs. 4792.71 crore also registering a growth of 18 % over last year.    With 100% capacity utilization, NALCO’s Panchpatmali Mines has achieved Bauxite excavation of 74.14 lakh MT, which is highest ever since inception.  Bauxite transportation has gone up to 72.31 lakh MT, which is also highest ever since inception. Company’s Alumina Refinery has produced highest-ever 21.53 lakh MT of Alumina Hydrate and set a new record. 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 has produced 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.It may also be noted that NALCO has ended financial year 2018-19 on a strong performance in domestic sale which is highest-ever since inception. 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. Further, as per the Public Enterprise Survey of Department of Public Enterprises (DPE), the Company has been rated as the 3rd Highest ‘Net Foreign Exchange Earning CPSE’ in the Country for the year. NALCO has recorded an all-round success and global benchmarks in the Fiscal 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.

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