Nalco wins accolades, achieves global benchmarks in FY19

The National Aluminium Company Limited (Nalco) has lately been winning accolades from various quarters. It’s Chairman-cum-Managing Director (CMD), Dr Tapan Kumar Chand, was recently honoured with the ‘Global Indian Business Leader’ award for outstanding professional achievements and inspiring social contributions. On behalf of Dr. Chand, the award was received by Asutosh Rath, DGM (Corporate Communication), Nalco.

Organised by the Indian Achievers’ Forum, this award comes on the back of Dalal Street Journal, India’s top-rated equity investment magazine, rating Nalco as the fastest growing and high-growth PSU in the last five years. Dr Chand received the ‘Roll of Honour’ for leading the company on the growth path and in achieving a global benchmark in being the lowest cost producer of bauxite and alumina in the world.

As per a company release, under the leadership of Dr Chand, since taking over as the CMD in July 2015, Nalco has been consistently delivering across all parameters of production, productivity and profitability in the last four years, with the company registering its best performance in a decade by clocking a whopping INR1,732-crore net profit in 2018-19.

Nalco recorded all-round success and global benchmarks in 2018-19. Along with significant achievements on the production front, the PSU achieved the distinction of becoming the lowest cost producer of alumina in the world, as per a Wood Mackenzie report, for three consecutive years. The company has also been ranked as the lowest-cost producer of bauxite in the world for the year 2018-19. The release said, in matters of profitability, Nalco is way ahead of its private sector peers by registering an EBIDTA margin of 28%. Industry analysts attribute Nalco’s performance to the implementation of its new business model since 2016.