NALCO announces dividend of Rs.451 crore for 2014-15

Odisha Channel Bureau Bhubaneswar: In their 34th annual general meeting held here today, the shareholders of National Aluminium Company Limited (NALCO) have approved a total dividend payout of 35%, which works out to Rs.1.75 per share.The total pay-out is Rs.451.02 crore for 2014-15.Since inception, NALCO has paid a total of Rs.5356.76 crore as dividend, including Rs.4598.99 crore as share of Government of India.In his address to the shareholders, T.K.Chand, CMD, NALCO highlighted the performance of the company and outlined its growth plans.According to Chand, at this stage, NALCO is targeting to be a global player in the mining, metal and energy sectors.Towards this realisation, the company has plans to increase the existing metal production, alumina production and raise bauxites & coal.“Our action plan includes, increasing the volume of production, go for expansion and modernization of our plants and diversification of products.Further, our target is to increase our networks in the domestic as well as in the international market.A flexible plan is envisaged, which takes into account the market uncertainties of future,” Chand said.“While we have got the much-awaited and much-needed allocation of Utkal D and E Blocks, we are looking forward for consent of State Government for allocation of Pottangi mines in Koraput district so that alumina refinery rroject of Rs.5,500 crore can immediately start,” Chand said on the sidelines of the AGM.PERFORMANCE HIGHLIGHTS: 2014-15• Net Profit of Rs.1322 crore• Highest-ever gross turnover of Rs.7771 crore• Export turnover Rs.3307 crore • Bauxite production at 57.39 lakh tonnes• Alumina Hydrate production at 18.51 lakh tonnes• Cast Metal production of 3.27 lakh tonnes • Thermal Power generation at 5,131 million units (MU)• 175 MU of wind energy• 0.167 MU of solar energyTARGET FOR FY 2015-16As per the MoU signed with the Ministry of Mines, Govt.India, NALCO has the following targets to achieve during 2015-16 fiscal.Production Target• Bauxite Production: 6825000 tonnes• Alumina Hydrate: 2180000 tonnes• Aluminium Cast Metal: 380000 tonnes• Net Power Generation: 6009 million units• Wind Power Generation: 181 million units Sales Target• Total Alumina /Hydrate Sale: 1444000 tonnes• Total Metal Sale: 380000 tonnes