Nalco approves dividend of Rs 387 crore

The National Aluminium Company Limited, a Navratna public sector unit under Union ministry of mines, has approved a total dividend payout of Rs 387 crore for 2013-14. Since inception, Nalco has paid a total of Rs 4906 crore as dividend, including Rs 4234 crore as share of the central government.

The National Aluminium Company Limited (Nalco), a Navratna public sector unit under Union ministry of mines, has approved a total dividend payout of Rs 387 crore for 2013-14. Since inception, Nalco has paid a total of Rs 4906 crore as dividend, including Rs 4234 crore as share of the central government.

Nalco had a net sales turnover of Rs 6649 crore and net profit of Rs 642 crore in 2013-14. “The company is currently embarking upon an ambitious growth plan, which involves a substantial investment in the next three to four years, not only in aluminium sector but also in energy sector,” Nalco chairman cum managing director Ansuman Das told reporters on Saturday evening after the company’s annual general meeting.

Das said Nalco was planning to file a review petition in the Supreme Court, which cancelled a coal block allotted to it. Nalco’s Utkal E coal block was among the 214 coal blocks cancelled by the apex court recently.

The coal block had been allotted to Nalco in 2004 for the coal requirement of its captive plant in Odisha’s Angul district.