By Bizodisha Bureau, Bhubaneswar, August 15, 2016 : The metal major National Aluminium company Ltd [NALCO] has performed well despite the fact that about 70 per cent aluminium smelters across the world reported loss.

“Nalco has remained profitable all through by successfully handling the market downturn, by maximising bauxite mining and alumina refining, adding new pots and augmenting production, besides effecting several cost reduction measures, particularly in raw material and energy consumption,” Nalco chairman and managing director, T K Chand told a gathering on the occasion of Independence Day here.

London-based Wood Mackenzie has chosen the Indian government controlled maharatna public sector unit, as the lowest cost producer of Alumina, Chand said adding that the performance of Nalco during the 2015-16 fiscal has been quite encouraging with a gross turnover of Rs 7,157 crore and net profit of Rs 731 crore.

“During 2015-16, Nalco has increased dividend payment to shareholders from 35 per cent to 40 per cent. Its share price in the market has gone up from Rs 36.55 in July 2015 to Rs 47.50…..

During the said financial year, NALCO has increased dividend payment to shareholders from 35% to 40%. NALCO’s share price in the market has gone high from the level of Rs.36.55 paisa in July 2015 to Rs.47.50 paisa registering an increase of 30%. Market capitalization has improved from around Rs.9,000 crore to Rs.12,200 crore. The Price/Earning ratio has improved to 30.96. The market sentiment is for 80% buy, 0% sell and 20% hold,” Chanda said,

He said till July, in the ongoing fiscal, Nalco has produced 23,18,371 metric tonnes of Bauxite (growth of 32.45 per cent over corresponding period of last year), while the company produced 6,49,200 metric tonnes of Alumina hydrate (growth of 12.88 per cent over corresponding period last year).

“There is a saying, ‘Fortune favours the Brave’. This is apt in case of Nalco facing the market blizzard bravely and coming out successful. This could not have been possible without a concerted effort of all employees,” he said.