National Aluminium Company Limited (NALCO), a Navratna Central Public Sector Enterprise (CPSE) under the Ministry of Mines, Government of India, has set unprecedented records in production and sales during the financial year 2023-24. NALCO’s cast metal production soared to an all-time high of 4,63,428 metric tonnes, while the company also posted a significant export turnover of Rs. 4,275.73 crore.

This spectacular performance was unveiled during NALCO’s 43rd Annual General Meeting, held virtually today. With a staggering sales turnover of Rs. 13,149 crore and a net profit of Rs. 2,060 crore, NALCO continues to cement its role as a leader in India’s aluminium sector. The shareholders approved a final dividend of Rs. 367.33 crore, bringing the total dividend for the year to Rs. 918.32 crore—45% of the company’s Profit After Tax (PAT).

Record Production, Soaring Sales

NALCO’s aluminium smelter plant, which achieved the highest-ever cast metal production, was not the only feather in the company’s cap. The Alumina Refinery produced a record 21.24 lakh tonnes of alumina hydrate, operating at over 100% capacity utilization. In the same vein, the company registered an all-time high total sales of 4,70,108 metric tonnes of metal.

Further adding to the company’s triumphs, NALCO executed the mining lease for Pottangi Bauxite Mines in June 2024, ensuring access to 111 million metric tonnes of mineable reserves for the next 50 years. This development ensures the company’s raw material security for decades.

Challenges and Triumphs

Despite the fluctuating global economic landscape, marked by fluctuating commodity prices and stringent environmental regulations, NALCO’s Chairman and Managing Director (CMD), Shri Sridhar Patra, assured stakeholders that the company had successfully navigated these obstacles. He credited the success to the dedication of the NALCO team and the unwavering trust of shareholders.

Patra pointed out that these challenges allowed the company to explore new growth opportunities. NALCO has aligned its growth strategies with national goals such as Atmanirbhar Bharat and Viksit Bharat, securing energy and raw material resources for the next 30 years. The company has also made significant progress in developing its Utkal D coal block, achieving peak capacity production of 2 million tonnes.

Expert Insight: NALCO’s Growing Role in Global Aluminium Industry

Experts in the industry have lauded NALCO’s continuous commitment to growth. They point out that the company’s operational excellence, combined with its strategic acquisition of resources, positions it as a key player not only in the Indian market but also globally.

Nalco’s progress over the past fiscal year highlights its ability to adapt and thrive in an evolving market. This adaptability, coupled with the strategic foresight of the company’s leadership, ensures that NALCO will remain at the forefront of the aluminium and alumina industries for years to come. Patra’s statement during the AGM reflected this optimism, as he emphasized the company’s goal to align with global trends and national priorities.

As the company looks to the future, it continues to focus on expansion projects in Odisha and remains dedicated to sustainable growth, further enhancing its market position.

The achievements of NALCO in FY 2023-24 underscore its resilience and capability to thrive in a competitive global environment. The record-breaking milestones in production and sales are not just numbers but a reflection of the company’s determination to lead in India’s industrial resurgence. Moving forward, NALCO is poised to not only sustain but also amplify its growth trajectory, with a clear focus on becoming a global leader in the aluminium sector.

  Bhubaneswar, Ministry of Mines, NALCO, National Aluminium Company Limited, Odisha, Pottangi Bauxite Mines, Utkal D coal block