Navratna CPSE NALCO Posts 40% Dip In Q1 PAT, Dividend Declared

National Aluminium Company Limited (NALCO) said on Friday that its consolidated net profit for the June 2023 quarter fell by 40% to Rs 333.76 crore from Rs 557.91 crore reported in the June 2022 quarter. The company's total income dropped to Rs 3,226.88 crore in Q1FY24 compared to Rs 3,847.17 crore in Q1FY23. The company's revenue from operations was down 16% YoY at Rs 3,178.4 crore in Q1FY24 vs. Rs 3,795.2 crore in the year-ago quarter. The Odisha-based aluminium company said its EBITDA was Rs 594.3 crore in the quarter under review, down by 32% YoY from Rs 879.6 reported in the same quarter of FY23.

"The Board has recommended final dividend @ Re.1/‐ per share (20% on face value of Rs.5/‐ each) for the financial year 2022‐23, subject to the approval of shareholders in the ensuing 42nd Annual General Meeting (AGM). The final dividend @ Re.1/‐ per share, as recommended by the Board of Directors, if declared in the ensuing 42nd AGM, will be paid within a period of 30 days from the date of declaration, as per the provisions of the Companies Act, 2013. The above final dividend is in addition to the 1st interim dividend of Re.1/‐ per share and 2nd interim dividend of Rs.2.50/‐ per share (Total of Rs.3.50/‐ i.e. 70% on face value of Rs.5/‐ each) already paid during the financial year 2022‐23," said NALCO in a stock exchange filing.

National Aluminium Company has announced a 100% equity dividend at a face value of Rs 5, or Rs 5 per share, for the financial year ended March 2023. This comes in a dividend yield of 5.30% at the current share price of Rs 94.24. The company has routinely issued dividends for the past five years and has a strong dividend track record. Since August 22, 2000, National Aluminium Company Ltd. has issued 44 dividends, according to Trendlyne statistics.

On Friday, the shares of NALCO ended on the BSE at Rs 94.24 apiece down by 0.81% from the previous close of Rs 95.01. The stock made a 52-week-high of Rs 97.60 on (01/08/2023) and a 52-week-low of Rs 67.00 on (28/09/2022). During Q1FY24, the company recorded promoters shareholding of 51.28%, FIIs stake of 14.95%, DIIs stake of 15.38% and public stake of 18.40%.