Bhubaneswar, 27/09/2024: In the 43 rd Annual General Meeting held here today through Virtual
mode, the shareholders of National Aluminium Company Limited (NALCO), the Navratna
CPSE under the Ministry of Mines, Govt. of India, have approved the Annual Accounts for
2023-24 with a sales turnover of Rs.13,149 crore, net profit of Rs.2,060 crore and an export
turnover of Rs. 4,275.73 crore.
The shareholders also approved a final dividend of Rs.2 per equity share (40% on face value of
Rs.5/- each) amounting to Rs.367.33 crore for the FY 2023-24. Thus, total dividend paid during
the year amounts to Rs.918.32 crore, which is 45% of PAT Among the notable achievements of FY 2023-24, the Aluminium major NALCO achieved
highest-ever Bauxite excavation and produced 21.24 lakh tonne Alumina Hydrate operating
beyond 100% capacity utilisation. Similarly, on the sales front, the company has registered the
highest-ever metal sale of 4.70 lakh tonne and the Aluminium Smelter plant achieved highest
ever cast metal production of 4.63 lakh MT in the FY 2023-24.
In FY 23-24, NALCO has developed & operationalized its Utkal D coal block and has also
produced 2 million tonnes of Coal, which is the peak rated capacity of the mine. It may be
mentioned that with operationalization of Utkal D & E and signing of lease agreement for
Pottangi Bauxite mines, the Company has achieved strong energy and raw material
securitization for next 30 years.
Addressing the shareholders on the occasion, Shri Sridhar Patra, CMD of NALCO, conveyed
his heartfelt appreciation for the dedication and commitment of NALCO team, unwavering
support, trust and confidence of shareholders, which has led to record-breaking metal production
and impressive sales figures. He also expressed that there were some setbacks due to economic
and geopolitical landscape, issues arising from fluctuating commodity prices to evolving
environmental regulations, but these challenges also present the company opportunities for
growth and innovation. NALCO has experienced growth across various areas in FY 2023-24
aligned with the goals of Atmanirbhar Bharat and Viksit Bharat, he said.
NALCO is dedicated to drive forward India's industrial prowess and economic resilience. The
future holds immense possibilities for NALCO, as we continue to align our strategies with
global trends and national priorities, ensuring that we remain at the forefront of the aluminium
industry, said Shri Patra.
Shri Patra, further informed that the company has successfully executed the mining lease of
Pottangi Bauxite Mines (having mineable reserve of 111 million MT) with the Government of
Odisha for a period of 50 years. He also outlined about the various growth and brownfield
expansion projects of the company including operationalization of the remaining allotted coal
Block in Odisha.
In his concluding remarks, Shri Patra said that NALCO is poised to grow with purpose and
deliver with passion and strive towards making the company, a sought-after name globally in
the Alumina and Aluminium sector.