NALCO sets target of achieving a turnover of Rs 18,171 crore by...

    NALCO sets target of achieving a turnover of Rs 18,171 crore by 2024

    National Aluminium Company Limited (NALCO) which unveiled its Corporate Plan (2017-2032) on Monday has set a target of achieving a turnover of over Rs 18,171 crore by 2024 with a net profit of Rs 1,693 crore by 2024.
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    NALCO

    The revenue growth will be driven by an expansion in the company’s smelting capacity to 1.1 million tonne and an increase in its refining capacity to 3.27 million tonne. In the current financial year, 2017-18, Nalco has set a turnover of Rs 8,100 crore as per its MoU with the mines ministry.

    The long term strategy foresees the company reaching a turnover of Rs 31,248 crore and a net profit of Rs 3,010 crore by 2032.

    Nalco‘s Corporate Plan, which was prepared by consulting major KPMG, was released by Arun Kumar, secretary, mines ministry and other senior officials and Tapan Kumar Chand, chairman, Nalco, in New Delhi on Monday. It aims to “position Nalco in a growth trajectory taking into account emerging market conditions and evolving global scenarios,” the company said.

    The corporate plan also envisages backward integration to CT Pitch & Caustic Soda, forward integration to Extrusion, Foils & Castings. It also envisages expanding value addition capacities in Wire rods & Rolled Products. Nalco has also decided to diversify into commercial mining in Bauxite & Chromite and into Conductors and Lithium-Ion batteries.

    The Corporate Plan has been developed as per the guidelines of NITI Aayog, envisaging a three- year action plan, seven -year strategy and 15-year vision for the company’s growth. This includes a forward looking new vision, mission and values of the company which will give a direction to the company assuring steady growth, minimizing the price volatility of commodities while ensuring profitability.

    Read More: NALCO gets environmental clearance for Rs 4,000 cr third phase expansion plan

    Info- economictimes

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