The Hindu Business Line : Nalco net up at Rs 1,562 cr; to pay 50 pc dividend

Metal sales A total of 1,03,193 tonnes of metal was sold from the stockyards during 2005-06, exceeding the previous best of 91,966 tonnes in 2004-05.

Bhubaneswar , Sept. 28

The shareholders of the Orissa-based National Aluminium Company (Nalco) have approved a dividend of 50 per cent for 2005-06 against 40 per cent in 2004-05. The dividend amounted to Rs 322.16 crore.

The company's accounts for 2005-06 with a record net profit of Rs 1,562.20 crore was also approved at its 25th annual general meeting held here on Thursday. The company had achieved a net profit of Rs 1,234.84 crore in the previous year.

Speaking of the occasion, the Chairman-cum-Managing Director, Mr C.R. Pradhan, said that during 2005-06 the company achieved the highest-ever production and profitability since inception. The bauxite mines achieved record production of 48.54 lakh tonnes against 48.51 lakh tonnes in 2004-05.

Alumina refinery also produced a record quantity of 15.90 lakh tonnes of alumina, against 15.75 lakh tonnes. Similarly, aluminium metal production at 3,58,954 tonnes was also an all-time high, against 338,483 tonnes in 2004-05.

The company's 960-MW captive power plant generated 5,679 million units against 5,613 million units of net power, the highest since inception. Productivity of the power plant also improved with increase in plant load factor. The company achieved the highest-ever metal sale of 3,53,841 tonnes against 3,38,527 tonnes, which included domestic sales of 2,58,094 tonnes, with export sales of 95,747 tonnes.

A total of 1,03,193 tonnes of metal was sold from the stockyards during 2005-06, exceeding the previous best of 91,966 tonnes in 2004-05. The company now operates from as many as eight stockyards located at Visakhapatnam, Kolkata, Bangalore, Jaipur, Bhiwandi, Faridabad, Silvasa and Baddi.

He further said that the company also achieved record sales of Rs 5,324.16 crore, surpassing the previous high of Rs 4,420.14 crore in 2004-05. The total foreign exchange earning of Rs 2,306.20 crore was also a new record, against Rs 2,200.25 crore in 2004-05. The return on capital employed improved to 24.79 per cent from 24.01 per cent.