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NALCO declared a final dividend of 20% i.e. ₹ 1 per equity share, during the 40th Annual General Meeting

in Business, State News October 4, 2021 Comments Off on NALCO declared a final dividend of 20% i.e. ₹ 1 per equity share, during the 40th Annual General Meeting 612 Views

  • Total dividend payout of Rs. 644.27 crore announced for FY 2020-21
  • NALCO CMD shares future plans with a focus on early commissioning of expansion projects

Bhubaneswar, 4/10/2021: National Aluminium Company Limited (NALCO) declared a final dividend of 20% i.e. ₹ 1 per equity share, during the 40th Annual General Meeting (AGM) of the Navaratna CPSE, held today at Bhubaneswar.  The total dividend pay-out for the financial year 2020-21 comes to ₹ 644.27 crores, as against ₹ 279.84 crores declared and paid during the previous financial year 2019-20.

Addressing the shareholders on the occasion through the virtual platform, Shri Sridhar Patra, CMD, NALCO, said that NALCO as one of the leading CPSE of the country has come a long way in the service of the Nation and powering India’s Mineral Security. The company has not only addressed the need for self-sufficiency in aluminum but has also given the country a technological edge in producing this metal of the future at par with global standards.

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Despite the outbreak of COVID-19 pandemic with a challenging business environment, the year 2020-21 for NALCO has been a year of accomplishments. “In spite of turbulent environment, coupled with volatile nature of LME prices and subdued demand for the metal, we have made steady progress by focusing on the 5P’s – production, productivity, people, projects and profit. Although LME was at rock bottom in Q1; but with planned initiatives, along with effective procurement strategies led to a landslide improvement in the bottom-line of the company,” he said.

With restrictions in manpower deployment and logistic constraints, NALCO’s workforce exhibited exemplary dedication and sense of commitment which helped the company in achieving extraordinary performance, he added.

Sharing the future plans of the company, Shri Patra said that the focus is now on early commissioning of the expansion activities. “With steady progress on the ongoing expansion activities, we are optimistic for commissioning of the proposed one million tonnes per annum 5th Stream of Alumina Refinery expansion by 2023-24”, expressed Shri Patra.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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