High input costs, volatility in the business environment as well as dynamics of global demand-supply have impacted Nalco’s profit margins, said chairman and managing director Sridhar Patra.
Addressing shareholders at the 42nd annual general meeting on Thursday, Patra said: “In spite of it, the company has registered growth on several fronts in the financial year 2022-23.”
“National Aluminium Company Limited (Nalco) holds the crown of being the lowest cost producer of bauxite and 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 operationalisation of the remaining allotted coal block in Odisha.”
Nalco has approved the annual accounts for 2022-23 with 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. The shareholders also approved a final dividend of 20 per cent or Rs 1 per equity share.