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National Aluminium Company Limited (NALCO), India's leading producer and exporter of alumina and aluminium, expects excellent MoU scoring for the financial year 2004-05. It achieved the highest ever net profit of Rs.1234.84 crore, recording an increase of 67.47 per cent over the previous year figure of Rs.737.37 crore. CMD, NALCO, Shri C. R. Pradhan today briefed this in a performance review meeting taken by the Union Mines Secretary, Shri A.K.D. Jadhav.
Shri Pradhan informed that the company has reported all time record sales turnover of Rs.4,439.99 crore compared to Rs.3,338.87 crore in the previous year, recording a growth of nearly 33 per cent. During the year 2004-05, the export business of the company crossed Rs.2,200 crore, compared to Rs.1,717 crore in the previous year.
The Secretary was informed that on production front, the company established new records in all the segments. The company's bauxite mines crossed the rated capacity to achieve highest ever production of 48.52 lakh tonnes against 48.17 lakh tonnes in the previous year. Similarly, alumina production increased to 15.75 lakh tonnes from 15.56 lakh tonnes and cast metal production reached at 338,484 tonnes from 298,208 tonnes in the previous year.
On the marketing front, NALCO, during the year, recorded highest ever domestic aluminium metal sales of 205,000 tonnes compared to 166,650 tonnes in 2003-04. Export metal sale of 132,730 tonnes is a new record compared to 129,719 tonnes in the previous year.
The company has started work on the 2nd phase expansion programme at an investment of Rs.4,091 crore. This project will raise the bauxite mines capacity from 48 lakh tonnes to 63 lakh tonnes, alumina capacity from 15.75 lakh tonnes to 21 lakh tonnes and aluminium production capacity from 3.45 lakh tonnes to 4.60 lakh tonnes.
The Secretary asked the company to prepare a vision document for the aluminium industry in the country for the next 20 years. He asked the company to keep up its performance and open up new avenues for increasing production and sales. He expected timely completion of the second phase expansion work to avoid escalation of cost.
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