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State-owned National Aluminium Company Ltd (Nalco) is aiming to start its Pottangi bauxite mines in Odisha by June next year as the company plans to ramp up its mining capacity supporting its goal of expanding its integrated aluminium business. Dilip Buildcon Ltd had emerged as L-1 bidder for the development and operation of Pottangi bauxite mines. "...our target is June next year we will be starting the mines," NALCO CMD Brijendra Pratap Singh said. The company is set to enhance its alumina production capacity at its Damanjodi refinery in Koraput district, Odisha. Nalco operates a 2.275 million tonnes per annum (MTPA) alumina refinery at the site and is undertaking the installation of a 5th stream that will add an additional 1 MTPA capacity. To support this expansion, the Odisha government has granted Nalco a mining lease for the Pottangi Bauxite Deposit in Koraput district. The lease covers an area of 697.979 hectares and is valid for 50 years, ensuring steady raw material suppl
State-owned National Aluminium Company Ltd (Nalco) on Friday reported a 36.7 per cent rise in consolidated profit to Rs 1,429.94 crore in the quarter ended September 30, 2025. The company had posted a consolidated profit of Rs 1,045.97 crore in the year-ago period. The consolidated revenue from operations during the July-September period rose to Rs 4,292.34 crore against Rs 4,001.48 crore in the year-ago period. Nalco has lined up an investment of Rs 30,000 crore to set up a new aluminium smelter and a coal-based power plant over the next five years. Of this, Rs 18,000 crore has been earmarked for the smelter and Rs 12,000 crore will be spent on the thermal power plant. Nalco also plans to be a Maharatna firm in another five years. Nalco, a 'Navratna' company, is one of the country's largest bauxite, alumina, aluminium and power complex. Currently, the government owns 51.28 per cent stake in the PSU.
A parliamentary panel has criticised state-owned Nalco for spending less than 50 per cent of the targeted capex of Rs 2,000 crore in the first 10 months of 2024-25. "Against the targeted capex of Rs 2,000 crore by Nalco for the year 2024-25, the end of January 2025, the capex stood at Rs 879 crore, i.e. less than 50 per cent of the targeted amount. "The committee would like to be apprised of the slow pace of capex in the first 10 months of the year...," the Standing Committee on Coal, Mines and Steel has said report submitted to Parliament. It further said the company is neither availing nor proposes to avail any budgetary support from the Centre. The plan outlay is being managed entirely through internal resources only. The company has achieved its targeted expenditure in 2020-21, 2022-23, and 2023-24. "In FY 21-22 there was only marginal shortfall and achievement was 99.2 per cent of its targeted capex. In FY 19-20, the company achieved 93.2 per cent of targeted capex," it ...
State-owned National Aluminium Company Ltd (NALCO) on Monday reported an over three-fold jump in its consolidated net profit at Rs 1,566.32 crore in the December 2024 quarter, on account of higher income. It had posted a net profit of Rs 470.61 crore during the October-December period of 2023-24, the company said in a regulatory filing. The company's total income increased 40 per cent to Rs 4,761.31 crore against Rs 3,397.87 crore in the year-ago period. NALCO trimmed its expenses to Rs 2,639.41 crore compared to Rs 2,729.66 crore in the corresponding period a year ago. The board of the company also approved payment of second interim dividend of Rs 4 per share, 80 per cent on a face value of Rs 5 each, on the paid-up equity share capital of Rs 918.32 crore for financial year 2024-25. The company has fixed February 14, 2025, as the record date for payment of the dividend. Under the Ministry of Mines, NALCO is the country's leading manufacturer and exporter of alumina and aluminium
State-owned Nalco on Wednesday said its consolidated profit rose more than five-fold to Rs 1,045.97 crore in the quarter ended September 2024 on the back of higher revenue from operations. The company had posted a consolidated profit of Rs 187.35 crore in the year-ago period, National Aluminium Company Ltd (Nalco) said in a stock exchange filing. The consolidated revenue from operations in the latest July-September period rose to Rs 4,001.48 crore from Rs 3,043.83 crore recorded in the year-ago period, the filing said. The company's board has approved an interim dividend of Rs 4 per share for the current financial year. Nalco is a 'Navratna' company. Currently, the central government owns 51.28 per cent of Nalco's equity capital. The company has been operating its captive Panchpatmali Bauxite Mines for the pit head alumina refinery at Damanjodi in the District of Koraput in Odisha and aluminium smelter and captive power plant at Angul.