Bhubaneswar: National Aluminium Company Limited (Nalco) has drawn up a corporate plan for the coming years.
"A corporate plan with a new vision has been developed and rolled out in January this year with a well-defined three-year action plan, seven-year strategy and 15-years of visions of being a premier and integrated company in the aluminium value chain," said Nalco chairman and managing director T.K. Chand.
"It provides a roadmap for multi-fold growth in revenue to the sum of Rs 18,171 crore and Rs 31,248 crore by 2024 and 2032 respectively," Chand told reporters a day after the Nalco board of directors meeting on Saturday.
"The year 2017-18 has been a rewarding year for Nalco on all fronts. We are looking beyond earning just profits. We have improved on all parameters - record production, highest sales and turnover," said the CMD.
During the 2017-18 fiscal, Nalco registered more than 100 per cent growth with a revenue of Rs 1,342.19 crore compared to Rs 669 crore the previous year, he said.
During the year, Nalco was the third-highest net foreign exchange earning central public sector enterprise in the country, he said adding that the net sales turnover for the year stood at Rs 9,377 crore (highest ever since inception) registering a growth of 26 per cent over last year. The export earning of Rs 4,076 crore was also highest ever since inception registering a growth of 12 per cent over the last year.
"While focusing on the present, we are ensuring we don't lose sight of what the future holds. We are introducing a game-changing business model that will bring additional Rs 935 crore net profit to the company," said Chand.
He said Nalco was inking a deal with Almex of the US to set up high-end value products. Nalco would also be promoting micro and small industries in downstream through a cashless model of providing aluminium ingots and taking back finished products for marketing by Nalco. "Such hand-holding by Nalco is bound to make these micro and small industries viable and thereby creating substantial number of employment and warming up business environment in Odisha," he said.
A night shelter at AIIMS, Bhubaneswar, will be built with Nalco funding for attendants of indoor patients and OPD patients availing long-term treatment.
