Navratna Stock Nalco Declares 20% Final Dividend: Details Inside

Founded on January 7th, 1981, National Aluminium Company Limited (NALCO) is a Schedule "A" Navratna CPSE. The integrated Bauxite-Alumina-Aluminum-Power Complex is one of the largest in the nation. The company has eight stockyards around the nation, as well as regional sales offices in Delhi, Kolkata, Mumbai, and Chennai. The company has announced a 20% final dividend which market watchers can take into consideration.

The shareholders of National Aluminium Company Limited (NALCO) approved the annual accounts for 2022-23 at the 42nd Annual General Meeting held on Thursday. The accounts show a sales turnover of Rs. 14,171 crore, a net profit of Rs. 1,544 crore, and an export turnover of Rs. 4,217 crore. Additionally, a 20% final dividend, or Rs 1 per equity share, was authorised by the shareholders. Previously, during FY 22-23, the corporation paid out a dividend of Rs. 918.32 crore.

In FY 2022-23, NALCO, the largest aluminium producer, produced 21.23 lakh tonnes of alumina hydrate compared to a normative capacity of 21 lakh tonnes, indicating 101.1% of capacity utilisation. Similar to how it did on the sales front, the corporation also recorded its highest-ever metal sale, totalling 4.64 lakh tonnes, which also included a record-breaking domestic metal sale. Even though the plants are more than 40 years old, they have continued to function over their stated capacity thanks to diligent maintenance.

"Addressing the shareholders on the occasion, Shri Sridhar Patra, CMD, NALCO, appreciated the trust of shareholders and unstinted support of NALCO collective for achieving highest ever production and noteworthy revenue figures. Shri Patra further said that the higher input cost, volatility in business environment as well as dynamics of global demand-supply has impacted NALCO's profit margins in spite of the fact that the company has registered growth in several fronts in FY 2022-23," said the company in a stock exchange filing.

"NALCO always been in forefront in partnering the progress of our nation with its well-planned strategies for self-sufficiency in the aluminum value chain. It holds the crown of being the lowest cost producer of Bauxite & Alumina in the world. The focus of the company is now on early completion of the 5th Stream Refinery project and development of Pottangi Bauxite Mines and operationalization of the remaining allotted coal Block in Odisha," said Shri Patra.

"NALCO's workforce exhibited exemplary dedication and sense of commitment which helped the company in achieving extraordinary performance. We aim at ensuring a sustainable business that contributes to overall progress of the country and inclusive growth of the society and deliver long-term value to our stakeholders," added Shri Patra, CMD, NALCO.

On Friday, the shares of Nalco closed on the BSE at Rs 93.57 apiece down by 0.43% over the previous close of Rs 93.97. The stock made a 52-week-high of Rs 106.30 on (04/09/2023) and a 52-week-low of Rs 67.00 on (28/09/2022).