MIRA
INFORM REPORT
|
Report Date : |
16.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
NATIONAL ALUMINIUM COMPANY LIMITED |
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Registered
Office : |
Nalco Bhawan, Plot No. – P/1, Nayapalli, Bhubaneshwar – 751 013,
Orissa |
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Country : |
India |
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Financials (as
on) : |
31.03.2005 |
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Date of
Incorporation : |
07.01.1981 |
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Com. Reg. No.: |
03-920 |
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CIN No.: [Company
Identification No.] |
U272030R1981PTC000920 |
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TAN No.: [Tax Deduction
& Collection Account No.] |
BBNN00046E |
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PAN No.: [Permanent
Account No.] |
AAACN7449M |
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Legal Form : |
Public Limited Liability
Company The company’s shares are listed on the Stock Exchanges |
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Line of Business
: |
Manufacturing and marketing of Bauxite, Alumina Hydrate, Calcined
Alumina, Aluminium Ingots, Aluminium Sow Ingots, Aluminium Wire Rods,
Aluminium Billets. It is a also engaged in generation and sale of
Electricity. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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Maximum Credit
Limit : |
USD 235000000 |
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Status : |
Good |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having fine
track. Financial position is
good. Payments are correct and as per
commitments. The company is doing
well. The company can be considered good for any normal business dealings at
usual trade terms and conditions. |
LOCATIONS
|
Registered
Office : |
Nalco Bhawan, Plot No. – P/1, Nayapalli, Bhubaneshwar – 751 013,
Orissa, India |
|
Tel. No.: |
91-674-2442301–08 / 2301988 / 231989 / 2301990 / 2301999 / 2303197 |
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Fax No.: |
91-674-2300550 / 2442580 / 2442640 / 2442740 / 2442677 / 2300470 /
23005801 / 2300677 / 2300740 / 2300677 |
|
E-Mail : |
nalcobom@bol.net.in,
nalco1.nalco@gems.vsnl.net.in,
knravindra@nalcoindia.com, dmrao@nalcoindia.co.in, nkmohanty@nalcoindia.co.in, bharatsahu@yahoo.com |
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Website : |
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Telex : |
0675-690 / 6298 / 6431 NAL IN |
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Gram : |
NALCO |
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Regional Offices : |
Eastern Region Binoy Bhawan, 6th Floor, 27-B, Camac Street, Kolkata - 700 016 Tel. No.: 91-33-22470115/22477360 Fax No.: 91-33-22478936/22810393 E-Mail : rmnalkol@vsnl.net Western Region 215.T.V. Industrial Estate, S.K. Ahire Marg, Worli, Mumbai - 400 025 Tel. No.: 91-22-24939288/24939289 Fax No.: 91-22-24950500 E-Mail : nalcobom@mtnl.net.in Northern Region 303,Mercantile House, 15,Kasturba Gandhi Marg, New Delhi-110 001 Tel. No.: 91-11-23706080/81 Fax No.: 91-11-23721195/23706090 E-Mail : rmsdel@satyam.net.in Southern Region 3E, Century Plaza, 560, Anna Salai, Teynampet, Chennai-600 018 Tel. No.: 91-44-24344162/24349157 Fax No.: 91-44-24343495 E-Mail : rmchn@satyam.net.in |
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Plants : |
Port Facilities
Opposite Ore Handling Complex,
Visakhapatnam – 530 035, Andhra Pradesh Tel. No. 91-891-2561433
/ 2561435 Fax No. 91-891-2561598 Smelter Plant
Nalco Nagar – 759 14, Dist. Angul, Orissa Tel. No. 91-6764-220169 Fax No. 91-6764-220132 Captive Power Plant
District Angul – 759 112, Orissa Tel. No. 91-6764-220360 Fax No. 91-6764-220646 Telex : 06306-205
CPP IN Mines and Refinery Damanjodi
Mines and Refinery Complex, Damanjodi – 763
008, District Koraput, Orissa Tel. No. 91-6855-233201/
2759145 Fax No. 91-6855-232214/32288 |
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Warehouse : |
·
Gupta Warehousing Complex, Godown No. B-9, Dapoda Village, Thane
District, Maharashtra Tel. 91-22-276323/276600 ·
NSIC, 20, Industrial Estate, Pondicherry – 605 013 Tel. 91-413-51109/50276 ·
C/o, Balmer Lawrie & Company Limited, WH, 1 – Sonapur Road,
Kolkata – 700 088, West Bengal Tel. 91-33-24495299 ·
C/o M/s. Container Corporation of India, Bonded Warehouse No. 2,
Inland Container Depot, Bangalore – 560 006, Karnataka Tel. 91-80-28451327/2078/2083 ·
Haryana State Small Industries & Export Corporation Limited, 17/6,
Mathura Road, Faridabad – 121 007, Haryana ·
Nalco Bhawan, Plot No. P/1, Nayapalli, Bhubaneshwar – 751 013, Orissa Tel. 91-674-2301988 To
2301999 |
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Sales &
Marketing Office : |
No. 37, 1st Floor, VVP Nagar, (Jipmer Main Road, Kamaraja
Salai, Pondicherry Tel. 91-674-2301988/2301989 |
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|
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Branches : |
Marketing Offices
v
3rd Floor, Reshma Complex, 5th
Floor, M. G. Road, Bangalore – 560 001, Karnataka Tel. No. 91-80-558 7298 / 558 7086 Fax No. 91-80-558 6151 v
National Aluminium Company Limited, C/o
Central Warehousing Corporation “Central Warehouse”, Jaipur – 302 022,
Rajasthan Tel. No.
91-141-2770226/2770817 v
215, T. V. Industrial Estate, S. K. Ahire
Marg, Worli, Mumbai – 400 025, Maharashtra Tel. No. 91-22-24939288 / 24939289 Fax No. 91-22-24950500 v
Binoy Bhawan, 6th Floor, 27-B,
Camac Street, Kolkata – 700 016, West Bengal Tel. No. 91-33-22401373 Fax No. 91-33-22478936 v
303, Mercantile House, 15, Kasturba Gandhi
Marg, New Delhi – 110 001 Tel. No. 91-11-23713430 / 23757 / 1634 Fax No. 91-11-23711636 v
3J, Century Plaza, 560, Anna Salai,
Teynampet, Chennai – 600 018, Tamilnadu Tel. No. 91-44-24344162 Fax No. 91-44-2453495 v
J. K. Towers, II Floor (East), 100, Feet
Road, Ellaipilaichavady, Pondicherry – 605 013, Tamilnadu Tel. No. 91-413-250276 / 251109 Fax No. 91-413-250277 Stock Yards
v
National Small Industries Corporation
Limited PDTC/NSIC
Complex, Okhla Industrial Estate, New Delhi – 110 020 v Godown No. A/20, Gupta Warehousing complex, Mhatre Compound, Dapoda
Village, Taluka, Bhiwandi, Dist. Thane, Maharashtra v The Haryana
State Small Industries & Export Corporation Limited 17/6, Mathura Road, Faridabad, Haryana –
121 007 v N.S.I.C., 20,
Industrial Estate, Thattanchavady, Pondicherry, Tamilnadu |
DIRECTORS
|
Name : |
Mr. C. Venkataramana |
|
Designation : |
Chairman cum
Managing Director |
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Name : |
Mr. C. R. Pradhan |
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Designation : |
Director |
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|
Name : |
Mr. Harbhajan Singh |
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Designation : |
Director |
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|
Name : |
Mr. V. K. Thakral |
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Designation : |
Director |
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|
Name : |
Mr. S. C. Chhatwal |
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Designation : |
Director |
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|
Name : |
Mr. K. K. Mallick |
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Designation : |
Director |
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|
Name : |
Mr. A. R. Ray |
|
Designation : |
Director |
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|
Name : |
Mr. N. K. Jain |
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Designation : |
Executive Director |
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|
Name : |
Mr. B. S. Singh Rao |
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Designation : |
Executive Director |
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|
Name : |
Mr. P. K. Routray |
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Designation : |
Executive Director |
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|
Name : |
Mr. R. K. Maheswari |
|
Designation : |
Executive Director |
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|
Name : |
Mr. A. Rath |
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Designation : |
Executive Director |
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|
Name : |
Mr. U. B. Patnaik |
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Designation : |
Executive Director |
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Name : |
Mr. A. Mahapatra |
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Designation : |
Executive Director |
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Name : |
Dr. Pradeep Kumar |
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Designation : |
Director |
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Name : |
Mr. P.K. Parida |
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Designation : |
Executive Director |
KEY EXECUTIVES
|
Name : |
Mr. G. Kameswara Rao |
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Designation : |
Chief Vigilance Officer |
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Name : |
Mr. K. N. Ravindra |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Indian
Promoters |
561499635 |
87.15 |
|
Mutual Funds
and UTI |
11133213 |
1.73 |
|
Non-Government
[Institutions] |
26762439 |
4.15 |
|
FIIS |
18764770 |
2.91 |
|
Private
Corporate Bodies |
18337763 |
2.85 |
|
Indian Public |
7109647 |
1.10 |
|
NRI’s / OCB’s |
400119 |
0.06 |
|
Other |
302042 |
0.05 |
|
Grand Total |
644309628 |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Manufacturing and marketing of Bauxite, Alumina Hydrate, Calcined
Alumina, Aluminium Ingots, Aluminium Sow Ingots, Aluminium Wire Rods,
Aluminium Billets. It is a also engaged in generation and sale of
Electricity. |
|
|
|
|
Exports to : |
Australia, China, Hong Kong, Indonesia, Italy, Japan, Korea,
Philippines, Russia, Singapore, Taiwan, Thailand, Turkey, UAE and USA
[Alumina and Aluminium] |
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|
|
Imports from : |
Canada, Egypt, Iran, Japan, Korea, Netherlands, Saudi Arabia, UK and
U.S.A. [Raw Materials, Components, Spare Parts & Construction Materials
and Capital Goods] |
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Terms : |
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Purchasing : |
L/C, D/A, D/P and Credit |
PRODUCTION STATUS
|
Particulars |
Installed
Capacity [In Tonnes] |
Actual
Production [In Tonnes] |
|
Bauxite |
4800000 |
4854253 |
|
Detergent Grade Zeolite |
10000 |
7740 |
|
Aluminium Hydrate |
1575000 |
1590000 |
|
Special Grade Hydrate |
7150 |
5473 |
|
Calcined Alumina |
1575000 |
1578000 |
|
Special Grade Alumina |
7450 |
1713 |
|
Aluminium Metal |
345000 |
358954 |
|
a) Aluminium Standard Ingots |
215000 |
163652 |
|
b) Aluminium Sow Ingots |
-- |
100069 |
|
c) Aluminium Wire Rods |
100000 |
67319 |
|
d) Aluminium Billets |
30000 |
16945 |
|
e) Aluminium Strips-Smelter |
26000 |
3624 |
|
f) Aluminium Strips-RPU |
52000 |
5786 |
|
Rolled Products |
45000 |
5040 |
|
Electricity |
960 MW |
5679MU |
GENERAL
INFORMATION
|
Products : |
Generic Name of the Principal Products / Services are :
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No. of Employees
: |
7406 (Executives-1770, Supervisory-893, Skilled/Highly skilled-3571,
Unskilled/ Semiskilled-1172) |
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Bankers : |
State Bank of India, Bhubaneshwar, Orissa, India |
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Banking
Relations : |
Good |
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Auditors : |
SRB and Associates Chartered Accountants 5th Floor, IDCO Tower Janpath, Bhubaneswar-751022, Orissa, India Niran & Company Cost Accountants, 440, Sahid Nagar, Bhubaneswar – 751007, Orissa, India |
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Membership : |
Confederation of Indian Industry |
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Subsidiaries : |
International Aluminium Products Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1300000000 |
Equity Shares |
Rs. 10/- each |
Rs. 13000.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
644309628 |
Equity Shares |
Rs. 10/- each |
Rs. 6443.100
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
6443.100 |
6443.100 |
6443.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
52483.600 |
40535.000 |
31123.600 |
|
|
4] (Accumulated Losses) |
0.0000 |
0.000 |
0.000 |
|
|
NETWORTH |
58926.700 |
46978.100 |
37566.700 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
6543.900 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
6543.900 |
|
|
DEFERRED TAX LIABILITIES |
6417.300 |
6524.500 |
6099.900 |
|
|
|
|
|
|
|
|
TOTAL |
65344.000 |
53502.600 |
50210.500 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
39445.100 |
41390.000 |
39034.800 |
|
|
Capital work-in-progress |
2321.600 |
2066.100 |
7913.400 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
2000.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5915.800
|
5290.600
|
4804.800 |
|
|
Sundry Debtors |
294.200
|
928.100
|
1022.400 |
|
|
Cash & Bank Balances |
21937.100
|
7552.100
|
983.600 |
|
|
Other Current Assets |
1186.200
|
820.100
|
865.100 |
|
|
Loans & Advances |
3645.500
|
3519.500
|
2229.200 |
|
Total
Current Assets |
32978.800
|
18110.400
|
9905.100 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
6073.300
|
6162.500
|
5478.800 |
|
|
Provisions |
3328.200
|
1901.400
|
3164.000 |
|
Total
Current Liabilities |
9401.500
|
8063.900
|
8642.800 |
|
|
Net Current Assets |
23577.300
|
10046.500
|
1262.300 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
65344.000 |
53502.600 |
50210.500 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
Sales Turnover |
48519.000 |
41041.100 |
|
|
|
Other Income |
2307.000 |
2506.500 |
|
|
|
Total Income |
50826.000 |
43547.600 |
33247.700 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
24296.400 |
18702.700 |
10527.600 |
|
|
Provision for Taxation |
85744.00 |
6354.300 |
3153.900 |
|
|
Profit/(Loss) After Tax |
15622.00 |
12348.400 |
7373.700 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
|
Export Earnings |
23174.700 |
|
|
|
|
Commission Earnings |
7.300 |
10.000 |
17235.400 |
|
|
Other Earnings |
23182.000 |
21468.700 |
|
|
Total Earnings |
46364.000 |
42937.400 |
17235.400 |
|
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
|
Raw Materials |
864.200 |
936.700 |
|
|
|
Stores & Spares |
356.300 |
333.600 |
1276.300 |
|
|
Capital Goods |
140.100 |
266.500 |
|
|
Total Imports |
1360.600 |
1536.800 |
1276.300 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Intermediary Products/ work in process |
5210.500 |
|
|
|
|
Manufacturing Expenses |
1399.600 |
1106.500 |
|
|
|
Administrative Expenses |
858.400 |
791.000 |
|
|
|
Raw Material Consumed |
9378.400 |
7583.400 |
|
|
|
Repairs and Maintenance |
1919.300 |
1643.700 |
|
|
|
Selling and Distribution Expenses |
801.700 |
810.900 |
|
|
|
Increase/(Decrease) in Finished Goods |
(539.000) |
(241.100) |
22953.900 |
|
|
Salaries, Wages, Bonus, etc. |
3314.500 |
2899.900 |
|
|
|
Interest |
0.000 |
606.100 |
|
|
|
Power & Fuel |
1919.300 |
1643.700 |
|
|
|
Depreciation & Amortization |
3772.400 |
4610.800 |
|
|
|
Other Expenditure |
706.000 |
573.700 |
|
|
Total Expenditure |
26826.400 |
24849.200 |
22953.900 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2006 (3rd
Qtr.) |
30.09.2006 (2nd
Qtr.) |
31.12.2006 (3rd
Qtr.) |
|
Sales Turnover |
14855.200 |
14416.200 |
14485.700 |
|
Other Income |
833.900 |
1014.300 |
978.300 |
|
Total Income |
15689.100 |
15430.500 |
15464.000 |
|
Total Expenditure |
5511.700 |
5665.200 |
6036.500 |
|
Operating Profit |
10177.400 |
9765.300 |
9427.500 |
|
Interest |
0.000 |
0.000 |
0.000 |
|
Gross Profit |
10177.400 |
9765.300 |
9427.500 |
|
Depreciation |
786.800 |
771.200 |
744.000 |
|
Tax |
3270.900 |
3173.400 |
3025.200 |
|
Reported PAT |
6223.000 |
5950.000 |
5726.000 |
200606 Quarter 1
Notes
Expenditure Includes (Increase)/Decrease in Stock in Trade Rs (11.60)
million Raw Material Consumed Rs 1072.00 million Power & Fuel Rs 2138.10
million Employees Remuneration & Benefits Rs 862.40 million Other Expenses
Rs 1450.80 million Tax Includes Provision for Current Tax Rs 3270.90 million
Deferred Tax Rs (103.30) million EPS is Basic and Diluted Status of Investor
Complaints for the quarter ended June 30, 2006 Complaints Pending at the
beginning of the quarter Nil Complaints Received during the quarter 46
Complaints disposed off during the quarter 46 Complaints unresolved at the end
of the quarter Nil 1. The financial results are based on the accounts drawn in
accordance with Generally Accepted Accounting Practices consistently followed
in compliance with the mandatory Accounting Standards issued by ICAI and are
reported in the format prescribed by SEBI. 2. Previous period's figures are
regrouped wherever necessary. 3. The Company has segmented its business
activities in two parts i.e. Chemicals (Alumina) and Aluminum. For computation
of Segment Revenue and Segment Results, inter segment transfers of Alumina and
Electricity, which are transferred at cost, are valued at average export sales
realization during the period less freight and at average sales price to state
grid respectively. Such inter Segment transfers are furnished below: For three
months ended June 30, 2006 Alumina (Metric Tonnes - 1,54,768 Electricity
(Million Units) - 52 4. Production performance during the three months ended
June 30, 2006 are furnished below: Alumina (Metric Tonnes) - 3,58,100 Aluminum
(Metric Tonnes)- 88,584 Electricity (Million Units) - 1,461 5. Above un-audited
Financial Results have been taken on record in the Board of Directors Meeting
held on July 27, 2006.
200609 Quarter 2
Notes
EPS is Basic and Diluted Status of Investor Complaints for the quarter
ended September 30, 2006 Complaints Pending at the beginning of the quarter Nil
Complaints Received during the quarter 56 Complaints disposed off during the
quarter 56 Complaints unresolved at the end of the quarter Nil 1. The financial
results are based on the accounts drawn in accordance with Generally Accepted
Accounting Practices consistently followed in compliance with the mandatory
Accounting Standards issued by ICAI and are reported in the format prescribed
by SEBI. 2. Previous period's figures are regrouped wherever necessary. 3. The
Company has segmented its business activities in three parts i.e. Chemicals
(Alumina), Aluminium and Electricity. For computation of Segment Revenue and
Segment Results, inter segment transfers of Alumina and Electricity, which are
transferred at cost, are valued at average export sales realisation during the
period less freight and at average sales price to state grid respectively. 4.
Production performance during the three months ended September 30, 2006 are
furnished below: Alumina (Metric Tonnes) - 3,39,200 Aluminium (Metric Tonnes)-
91,503 Electricity (Million Units) - 1,487 5. Above un-audited Financial
Results have been taken on record in the Board of Directors Meeting held on
October 30, 2006.
200612 Quarter 3
Notes
Expenditure Includes (Increase)/Decrease in Stock in Trade Rs (97.00)
million Raw Material Consumed Rs 1585.80 million Power & Fuel Rs 2080.80
million Employees Remuneration & Benefits Rs 858.30 million Other Expenses
Rs 1608.60 million Tax Includes Provision for Current Tax Rs 3025.20 million
Deferred Tax Rs (67.70) million EPS is Basic and Diluted Status of Investor
Complaints for the quarter ended December 31, 2006 Complaints Pending at the
beginning of the quarter Nil Complaints Received during the quarter 76
Complaints disposed off during the quarter 76 Complaints unresolved at the end
of the quarter Nil 1. The financial results are based on the accounts drawn in
accordance with Generally Accepted Accounting Practices consistently followed in
compliance with the mandatory Accounting Standards issued by ICAI and are
reported in the format prescribed by SEBI. 2. Previous period's figures are
regrouped whenever necessary. 3. The Company has segmented its business
activities in three parts i.e. Chemicals (Alumina), Aluminium and Electricity.
For computation of segment Revenue and Segment Results, inter segment transfers
of Alumina and Electricity which are transferred at cost, are valued at average
export sales realisation during the period less fright and at average sales
price to state grid respectively. 4. Production performance during the three
months ended December 31, 2006 are furnished below: Alumina (Metric Tonnes) -
382200 Aluminium (Metric Tonnes)- 89,827 Electricity (Million Units) - 1,483 5.
Above un-audited Financial Results have been taken on record in the Board of
Directors Meeting held on January 22, 2007.
KEY RATIOS
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Debt-Equity Ratio |
0.00 |
0.08 |
0.28 |
|
Long Term Debt-Equity Ratio |
0.00 |
0.08 |
0.22 |
|
Current Ratio |
1.66 |
0.96 |
0.58 |
|
TURNOVER RATIOS |
|
|
|
|
Fixed Assets |
0.60 |
0.53 |
0.43 |
|
Inventory |
9.45 |
8.79 |
6.92 |
|
Debtors |
86.65 |
45.48 |
32.88 |
|
Interest Cover Ratio |
70.78 |
22.36 |
9.78 |
|
Operating Profit Margin(%) |
53.66 |
54.53 |
48.05 |
|
Profit Before Interest And Tax Margin(%) |
46.54 |
44.14 |
34.96 |
|
Cash Profit Margin(%) |
36.62 |
38.23 |
35.07 |
|
Adjusted Net Profit Margin(%) |
29.50 |
27.84 |
21.98 |
|
Return On Capital Employed(%) |
46.54 |
42.99 |
25.93 |
|
Return On Net Worth(%) |
29.50 |
29.21 |
20.87 |
STOCK PRICES
|
Face Value |
Rs.10/- |
|
High |
Rs.235.50/- |
|
Low |
Rs.227.00/- |
LOCAL AGENCY
FURTHER INFORMATION
History :
The company was incorporated on 7th January, 1981 at
Bhubaneshwar in Orissa having Company Registration Number 920.
The company is a Public Sector Non Ferrous giant and a leading player in
the Aluminium Industry. The company owns one of the largest deposits of Bauxite
together with integrated production facilities thus making it one of the lowest
cost producers of aluminium in the world.
As an integrated player the company owns a bauxite mine (4.800 millions TPA
capacity), an Alumina refinery (1.570 millions tpa capacity), an aluminium
smelter (0.345 millions tpa) and captive power plants. Further the company have
a port facility and was the first Indian company to link domestic prices of its
products to the London Metal Exchange (LME). With the advantage of being lowest
cost producer of aluminium in the world Nalco derives more than 50% of its
sales from exports.
The company, usually which is not hesitant to expansions if the market demands
has completed a series of expansion programme during the year 1998-2001
consisting of expansion of Bauxite mine capacity to 4.800 millions tpa (from
2.400 millions tpa) aluminium refinery to 1.575 millions tpa (from 0.800
millions tpa) with an capital outlay of Rs.42000.00 millions has submitted its
second pase of its expansion plan with an capital outlay of Rs.40000.000
millions to Government of India for its approval. This second phase of
expansion involves hiking bauxite mine capacity to 6.300 millions tpa, Alumina
refinery capacity to 2.100 millions tpa, aluminium smelter capacity to 0.460
millions tpa and the captive power plants capacity. The captive power plant
capacity is expanded at a cost of Rs.4800.00 millions funded brom internal
accruals and borrowings. This project meet the additional power requirement for
the expanded capacity of its aluminium smelter (to 0.345 million tpa). The
smelter was expected to be commissioned by Feburary 14, 2004. Dasturco is the
consultant for this project.
International Aluminium Products was amalgamated with the company since
November, 2001 and its cold rolling mill was commissioned in March,2002. This
has changed the scene in the value added products segment, which is the missing
link in the product chain of the company.
During the fiscal 2001, it completed the Special Grade Alumina project
and Zeolite-A project.
During 2004-05 the company enhanced its installed capacity
of Special Grade Hydrate (Aluminium Hydrate), Aluminium Metal & Electricity
by 150 Tonnes, 57500 Tonnes and 120 MW respectively. With this expansion the
total installed capacity of Special Grade Hydrate(Aluminium Hydrate), Aluminium
Metal & Electricity was increased to 7150 Tonnes, 345000 Tonnes and 960 MW
respectively. Further the company has included Special Grade Alumina (Calcined
Alumina) to its products with an installed capacity of 450 Tonnes.
In 2004-05 the company has revised the project of rolled production unit at a
cost of Rs.3983.5 millions approved by Public Investment Board was received on
27th January 2005 with the stipulation of completion of balance project jobs by
31st July 2005. The mechanical completion of the projects have been completed
by 30th July 2005 and commissioning activities are in progress. Caster line 1,
2 & 3 have been already been commissioned and trial runs have been
conducted. Caster line 4 is in the stage of commissioning and trial run will be
done shortly.
PERFORMANCE HIGHLIGHTS
The Directors are pleased to inform that the Company has completed yet
another successful year in 2005-06 by achieving rare distinction of highest
ever performance since inception in all segments of operation viz. in Bauxite
transportation, production of Alumina Hydrate, production of Calcined Alumina,
Steam Generation in co-generation Plant at Refinery, Cast Metal production,
Power generation at Captive Power Plant etc.
Marketing
As a marketing strategy, the Company signed MOU with more number of
domestic customers for supply of metal during 2005-06.
A total quantity of 1,03,193 MT of metal was sold from the stockyards
during the year exceeding the previous year best of 91,966 MT in 2004-05. Baddi
stockyard was opened during the year besides having regular sales activity from
other stockyards at Jaipur, Faridabad, Kolkata, Vizag, Bangalore, Bhiwandi and
Silvassa.
The policy of entering into MOU & the Aluminium metal sale through
plant and various stockyards helped the Company to achieve growth of
approximately 25.4% in sales in the domestic market and increasing its market
share from around 27% in 2004-05 to about 30% in 2005-06.
The Company achieved the highest ever total Aluminium metal sale of
3,53,841 MT comprising highest ever domestic sale of 2,58,094 MT with export
sale of 95,747 MT during the financial year 2005-06.
Finance
Due to increased production and sales performance on all fronts, the net
profit for the year after provision for taxes increased from Rs.12348.4
millions to Rs.15622 millions recording an increase of 27% over previous year.
The Company continued to remain as a 'Zero
Debt' Company throughout the year. Also, the Company utilized its internal cash
generation to meet its working capital requirement and utilize any working
capital borrowing facility. The Company had a surplus cash balance of Rs.21340
millions as on 31.03.2006 which is kept in short term deposit and will be
utilized to finance the 2nd phase expansion.
AWARDS & RECOGNITIONS
The Directors informed that the Company has received the following
awards in various fields:
v
For excellence in export, the Company bagged the prestigious Niryat
Shree award, instituted by the Federation of Indian Export Organizations
(FIEO).
v
The Company as well as CMD l/c of the Company were selected for the
prestigious 'Excellence Award' and 'Udyog Rattan' Award respectively by
Institute of Economic Studies, New Delhi.
v
Instituted by Engineering Export Promotion Council (EEPC), the Company
bagged the Top Exporters' Awards in the Eastern Region for the year 2001-02 and
2002-03.
v
The Company received the All India Export Excellence Award from
Engineering Export Promotion Council (EEPC) for the year 2003-04.
v
The Company bagged the Top t ^port Award of CAPEXIL for 2004-05 for the
18th year in succession.
v
The Company adjudged as the Best Mother Plant in Orissa for the growth
of ancillary and downstream industries.
v
The Refinery Complex has received 'Best State Safety Award' from
Director of. Factories & Boilers, Orissa.
EXPANSION & DIVERSIFICATION
During the year, the Company completed the commissioning of remaining facilities
under first phase expansion.
Status of 2nd Phase expansion
Project activities of 2nd phase expansion project are in progress.
Orders have already been placed for many of the packages and total financial
commitment up to July'06 is Rs.17405.7 millions out of the total project cost
of Rs.409.151 millions schedule to be completed in 2008.
The present capacity of the various project segments and tbe capacity
after 2nd phase expansion is given below:
|
Project Segment |
Present Capacity
1st Phase Expansion |
Capacity after
2nd Phase Expansion |
|
Bauxite Mine |
4.8MlnTPY |
6.3 Mia TPY |
|
Alumina Refinery |
15,75,000 TPY |
21,00,000 TPY |
|
Aluminium Smelter |
3,45,000 TPY |
4,60,000 TPY |
|
Captive Power Plant |
960 MW |
1,200 MW |
Engineers India Limited has been appointed as EPCM consultant for Mines,
Refinery, Aluminium Smelter while MECON has been appointed as EPCM consultant
for CPP and steam Generation Plant.
M N Dastur & Company has been awarded the assignment of Cost and
Time Monitoring.
Till 31.07.2006 orders have been placed for 22 packages of M&R
Complex, 21 packages for Smelter and 7 packages for CPP. The total order value
placed up to 31.07.2006 is Rs. 17405.7 millions.
Efforts made for additional Mining Lease
Stage- ll Forest Clearance for 300 of forest land of Panchpatmali
Bauxite Mines was obtained from the Ministry of Environment & Forests,
Government of India and the State Government is processing the case to issue
surface right.
The Company is pursuing with the State Government to allot Mining Lease
of Gandhamardhan Bauxite Deposit and unconditional allotment of Pottangi
deposit.
The Company has also applied for Mining Lease of Utkal- E Coal Block and
different Environmental studies are in progress for preparation of EIA in order
to apply for Environmental Clearance.
MOU PERFORMANCE
The Company's performance was 'Excellent' in terms of the Memorandum of
Understanding (MOU) signed with the Government of India for the year 2005-06. A
target production of 1.575 millions MT of Alumina and 0.345 millions MT of Aluminium
has been set in the MOU signed with the Government of India for the year
2006-07.
INDUSTRY STRUCTURE & DEVELOPMENTS
Alumina & Chemicals
During the year 2005, the world consumption of Alumina was 62.324
million MT against the world production of 60.995 million MT thus showing a
deficit of 1.329 million MT. The world Alumina production and consumption grew
by approx. 5.21% and 7.24% respectively during 2005 as compared to 2004.
The consistent demand for Alumina has prompted promoters to commence project
work for new green field Alumina projects and these projects may become
operational in the coming years. It is expected that there might be a massive
investment for undertaking green field and brown field expansions.
Aluminium
During the year 2005, the world consumption of primary Aluminium was
31.947 million MT against world supply of 31.966 million MT, showing a marginal
surplus of 0.019 million MT. The world supply and consumption grew by approx.
7.15% and 5.41% respectively during 2005 as compared to 2004. In China,
consumption is estimated to have risen by 18.07% and production by 18.25%
during 2005. Good demand from USA, Europe, China, Japan, India and South Korea
helped in strengthening the international prices during the year.
During the year, production from the Company's expanded capacities of
the Mines, Refinery and Aluminium Smelter was fully available. Apart from this,
ambitious second phase expansion programme of the Company's production
facilities has received the Government's nod on 26.12.2004 at an estimated
capital cost of Rs.4092 crore and the project activities have already
commenced.
The Company's other value added products such as Special Grade Alumina,
Zeolite and other products have made a good presence in the market and are
being well received.
SEGMENT-WISE PERFORMANCE
OPPORTUNITIES AND THREATS
The Company with its large availability of surplus Alumina can explore
the possibility of setting up of Aluminium Smelter in the areas where the
energy is available at cheaper rates. With its excellent track record over the
years, it can also take an 'opportunity for setting up of green field projects
elsewhere in the country. The possibility of further expanding capacities in
the existing locations with proper debt checking is being explored. The threat
perceptions in the country includes competition from substitute materials
particularly plastics, progressive reduction in aluminium import tariffs,
increasing competition from across the borders, poaching of its manpower by
competitors for their green field projects and levy of antidumping duties on
imported raw materials.
OUTLOOK FOR THE INDUSTRY
Domestic Market Outlook
The domestic Aluminium supply is going to witness more metal flowing in
from the expanded capacities of their producers. The domestic demand of
Aluminium is expected to remain strong during 2006-07 and is anticipated to
grow at more than 8%.
The Company has plans to produce more quantity of Rolled Products and
sell them in the domestic market and launch the same in the overseas market.
International Outlook
Aluminium
The IMF has predicted the global economy to grow by 4.9% in 2006, up
from the 4.8% growth rate seen in 2005.
IMF sees U.S. economy & euro-area expanding at 3.4% & 2.0% in
2006. IMF has projected the economic growth for Japan, China and India to be
2.8%, 9.5% and 7.3% respectively in 2006.
The Company achieved the highest ever net profit of Rs. 15622 millions
on a record breaking turnover of Rs.53241.6 millions. The Chemicals (Alumina)
segment accounted for 43% of the total revenue and 66% of Earnings before
Interest & Tax, while the Aluminium segment accounted for 57% of the total
revenue and 32% of Earnings before Interest & Tax.
Outlook for the Company
In the Company's future strategic growth plans, the core areas include
further expansion of the capacities in Mines, Refinery, Smelter and Captive
Power Plants. Its strategic plans are also directed towards meaningful
utilisation & redeployment of resources depending on the situations and full
capacity utilisation of existing operations with proactive financial management
and with qualitative focus on human resource development.
The company has received ISO 9001 and ISO 9002 Certification.
The company has technical collaboration with Aluminium Pechinery,
France.
FIXED ASSETS
The company’s fixed assets of important value include freehold land,
leasehold land, buildings, roads, bridges & culverts, railway sidings,
water supply, drainage and sewerage, power supply, drainage and sewerage, power
supply, distribution and lighting, plant & machinery, office equipments,
furniture & fitting and vehicles.
Press
Brief
NALCO’S Q4 PROFITS UP 40%
Bhubaneswar,
29.04.2006:
National
Aluminium Company Limited (NALCO), India 's leading producer and exporter of
alumina and aluminium, has reported Profit After Tax of Rs.6080.2 millions for
the quarter ending March 31, registering an increase of 40% over Rs.4342.4
millions achieved in the corresponding period of previous fiscal. The company
has closed the financial year 2005-06 with the highest-ever net profit of
Rs.15646.5 millions, recording an increase of 27% over the previous year's
figure of Rs.12348.4 millions.
According
to the unaudited results taken on record at a meeting of the Board of Directors
in New Delhi today, the company has also reported an all-time high sales
turnover of Rs.53242.0 millions, compared to Rs.44399.9 millions in the
previous year, recording a jump of 20%. During the year 2005-06, the export
earnings were also the highest-ever at Rs.22694 millions, as compared to
Rs.22002.5 millions in the previous year.
On
the production front, the company established new records in all the segments.
The company's bauxite mines crossed the rated capacity to achieve the
highest-ever production of 4.854 millions tonnes, against 4.852 millions tonnes
in the previous year. Similarly, alumina production increased to 15.90 millions
tonnes from 1.575 millions tonnes, achieving 101% capacity utilization. Cast
metal production jumped to 358,954 from 338,483 tonnes in the previous year,
achieving 104% capacity utilization. Power generation has also increased to
5679 million units from 5613 million units.
On
the marketing front also, NALCO recorded the highest-ever metal sale of 353,843
tonnes, including the highest-ever domestic aluminium metal sales of 258,096
tonnes, as compared to 338,527 tonnes and 205,797 tonnes respectively in the
previous year.
Meanwhile,
the company's 2 nd phase expansion programme, at an investment of Rs.40910
millions, is in full swing. This project will raise the bauxite mines capacity
from 4.8 millions tonnes to 6.3 millions tonnes, alumina capacity from 1.575
millions tonnes to 2.1 millions tonnes, aluminium production capacity from
0.345 millions tonnes to 0.460 millions tonnes and power generation capacity
from 720 MW to 1200 MW. The company is also looking out for value-addition
projects, as well as for expanding its activities, both in India and abroad.
NALCO RECORDS HIGHEST EVER QUARTERLY NET PROFIT OF RS.283.04 MILLIONS
Bhubaneswar, 28.10.2005: National Aluminium Company Limited (NALCO) – India’s
leading manufacturer and exporter has achieved highest ever quarterly net
profit of Rs.2830.4 millions for the 2nd quarter ended September 30,2005
against Rs.2755 millions recorded in the corresponding period last year.
According
to the unaudited financial results for the 3-month period of the financial year
2005-06 taken on record in the Board of Directors meeting held in New Delhi
today (i.e. 28.10.2005), the sales turnover of the Company increased to
Rs.11499.8 millions from Rs.10622.6 millions during the quarter.
For
the 1st half of the current fiscal 2005-06, the Company achieved a sales
turnover of Rs.22216.8 millions from Rs.19536.1 millions in the previous
period, representing an increase of 13.72 %, over the corresponding 6-month
period of previous year. Similarly, net profit increased by 13.96 % to Rs.5636
millions from Rs.4945.3 millions.
The
Company has also reported improved production of alumina and aluminium in the
2nd quarter. While alumina production rose to 393,700 tonnes from 380,500
tonnes, aluminium production increased to 90,944 tonnes from 83,175 tonnes.
For
the six-month period also, the company’s alumina production increased to
789,800 tonnes from 780,000 tonnes and aluminium production to 178,097 tonnes
from 156,629 tonnes.
NALCO'S 1ST QUARTER NET UP 28%
Bhubaneswar, 22.7.2005 :
National
Aluminium Company Limited (NALCO) – India's aluminium major in public sector –
has reported excellent results for the 1st quarter ended June 2005.
According
to the unaudited financial results for the 3-month period of the financial year
2005-06 taken on record in the Board of Directors meeting held in Bhubaneswar
today, the Company has achieved 28% jump in net profit to Rs.2805.6 millions
from Rs.2190.3 millions reported in the corresponding period of 2004-05.
Similarly, the sales turnover increased to Rs.10717 millions from Rs.8913.5
millions in the same period of previous year, registering a jump of 20%.
The
Company also achieved higher metal production of 87,153 tonnes compared to
73,454 tonnes in the first quarter of the previous year. The demand scenario in
both domestic and international market had continued to be good during the
quarter. Value addition has also taken place in alumina segment, with
production of speciality aluminas and zeolite.
Bhubaneswar,
21.04.2005:
National
Aluminium Company Ltd (Nalco), India's leading producer and exporter of alumina
and aluminium, has closed the financial year 2004-05 with highest ever net
profit of Rs.12224.3 millions, recording an increase of 66% over the previous
year figure of Rs.7373.7 millions.
According
to the unaudited results taken on record at a meeting of the Board of Directors
here today, the Company has also reported all time record sales turnover of
Rs.44379.7 millions compared to Rs.33485.7 millions in the previous year,
recording a jump of 33%. During the year 2004-05, the export business of the
Company crossed Rs.22000 millions, compared to Rs.17170 millions in the
previous year.
On
the production front, the Company established new records in all the segments.
The Company's bauxite mines crossed the rated capacity to achieve highest ever
production of 4.852 millions tonnes against 4.817 millions tonnes in the
previous year. Similarly, alumina production increased to 1.575 millions tonnes
from 1.556 millions tonnes. Cast metal production jumped to 338,527 from
298,207 tonnes in the previous year.
On
the marketing front also, Nalco recorded highest ever domestic aluminium metal
sales of 205,797 tonnes compared to 166,650 tonnes in the previous year. Export
metal sale of 132,730 tonnes is also a new record compared to 129,719 tonnes in
the previous year. Higher volumes and improved market conditions have helped
the Company to report record results.
Meanwhile,
the Company has started work on the 2 nd phase expansion programme at an
investment of Rs.40910 millions. This project will raise the bauxite mines
capacity from 4.8 millions tonnes to 6.3 millions tonnes, alumina capacity from
1.575 millions tonnes to 2.1 millions tonnes and aluminium production capacity
from 0.345 millions tonnes to 0.460 millions tonnes.
Nalco on a Record-breaking Spree
Bhubaneswar , 4.4.2005: Nalco has signed an MoU with the Ministry of Mines, Govt. of
India, fixing higher targets for the financial year 2005-06. On behalf of the
Ministry, Shri C.D. Arha, IAS, Secretary, Dept. of Mines and on behalf of the
Company, Shri C.R. Pradhan, CMD I/c, signed the MoU, in the presence of senior
officials of the Ministry and Nalco.
|
PRODUCTION |
During 2003-2004 |
During 2004-2005 |
Target for 2005-06 |
|
Bauxite (MT) |
48,16,762* |
48,51,726* |
48,00,000 |
|
Alumina Hydrate (MT) |
15,56,100 |
15,75,500* |
15,75,000 |
|
Aluminium (MT) |
2,98,208 |
3,38,483 |
3,45,000 |
|
Power from CPP (MU) |
5,122.24 |
5,617.26 |
5,800.00 |
Figures with * indicate crossing of rated capacities
Besides,
financial targets of Rs. 43400.3 millions turnover and Rs. 12440.3 millions net
profit have been fixed for 2005-06.
NALCO SIGNS MoU FOR 2005-06
Bhubaneswar, 30.3.2005: National Aluminium Company Ltd. (Nalco),
India’s largest exporter and producer of alumina and aluminium, has signed an
MoU with the Ministry of Mines, Govt. of India, fixing higher targets for the
financial year 2005-06.
On behalf of the Ministry, Shri C.D. Arha, Secretary, Dept. of Mines and
on behalf of the Company, Shri C.R. Pradhan, CMD I/c, signed the MoU, in the
presence of senior officials of the Ministry and Nalco.
According to the MoU for 2005-06, Nalco has targeted to produce 15.75
millions tonnes of alumina and 3.45 millions tonnes of aluminium.
Nalco becomes a Zero-debt Company
Bhubaneswar, 25.03.2005: Nalco has become a zero-debt Company, following the
repayment of 3 rd and final installment on 14.5% non-convertible redeemable
secured debentures, amounting to Rs.2143.9 millions, on March 25.
At
the beginning of 2004-05, Nalco had loans amounting to Rs.6543.9 millions.
However, the Company has been able to repay the entire loan amount with prudent
financial management, coupled with increased production and realization.
It
may be mentioned here that following the equity restructuring in March 1999,
Nalco brought down its paid-up capital from Rs.12886.2 millions to Rs.6413.1
millions and issued 14.5% debentures amounting to Rs.6413.1 millions, which
have been repaid in three installments in the years 2003, 2004 and 2005.
In
fact, Nalco had also earlier achieved the zero-debt status in September 1998,
when the Company had successfully discharged the last foreign currency loan of
20 billion Japanese yen plus interest, which in Indian currency worked out to
Rs.6276.4 millions (principal) and Rs.118.6 millions (interest). The Company
had borrowed a total of $980 million from a consortium of international banks
to finance its initial project costs.
The
repeat achievement of the zero-debt status will favourably reflect on the
Company's bottom line, since there will be no interest burden.
Meanwhile,
the Company has started work on the 2 nd phase expansion at an investment of
Rs.40910 millions. The Company hopes to meet the fund requirement through
internal resources and partly through external borrowings.
S.K. MISRA IS THE NEW DIRECTOR (PRODUCTION), NALCO
Bhubaneswar, 25.03.2005: Nalco’s Board has been further strengthened
with the induction of Shri S.K. Misra as the new Director (Production), on
March 24. Prior to this, he was the Executive Director (RDE&S) of the
Company.
Shri
Misra completed his degree in Mining Engineering from Indian School of Mines,
Dhanbad in 1970 and M.Tech in Mineral Engineering from IIT, Kharagpur, in 1974.
He has worked in many organizations like Indian Copper Corporation, Uranium
Corporation of India, Bolani Ores, NMDC and SAIL’s Bokaro Steel Plant, before
joining Nalco as Manager (Mines) in 1982. In Nalco, during the last 23 years,
he has handled various responsibilities like Projects, Production, Marketing,
R&D and Environment & Safety.
Nalco Pays 20% Interim Dividend
Bhubaneswar, 23.2.2005: National Aluminium Company Limited (Nalco)
– India's leading manufacturer and exporter has decided to pay an interim
dividend of 20 per cent, amounting to Rs.1288.6 millions. Out of this amount,
Rs.1123.4 millions is paid to the Govt. of India and balance to other
shareholders of the Company.
The
dividend cheque was handed over to Hon'ble Shri Sis Ram Ola, Union Minister of
Coal and Mines by Shri C.R. Pradhan, CMD I/c, Nalco in New Delhi today in the
presence of Shri C.D. Arha, Secretary, Department of Mines and other senior
officials of the Ministry and the Company.
Nalco
is among select profit making PSUs which has been recording consistent
performance in production and profitability. During the nine month period of
the current financial year 2004-2005, the Company has reported record
performance in all areas of its operation.
The
Company has posted cumulative net profit of Rs.8006 millions compared to
Rs.4726 millions in the corresponding period of previous year. The sales
turnover jumped to Rs.31255 millions from the corresponding Rs.22480.8 millions
in the previous period.
Five-Star Export House Status for Nalco
Bhubaneswar, 18.2.2005:
National Aluminium Company Limited (Nalco)- India’s largest manufacturer
and exporter has added another feather to its cap.
The
Company has been accorded the prestigious Five-Star Export House status in
accordance with the provision of the Exim Policy by Government of India,
Ministry of Commerce.
It
may be mentioned here that since 1991 Nalco has been recognized as a Star
Trading House for its substantial contributions to export of aluminium metal
and calcined alumina to various overseas markets. Thereafter during 2000,
Nalco’s status was upgraded to Super Star Trading House considering further
growth in exports.
Nalco
has been making rapid progress in the field of alumina and metal exports which
have further gone up after the completion of first phase capacity expansion.
Already
a global player in alumina with a share of about 8 per cent, Nalco has now
launched the 2nd phase expansion to raise the alumina capacity to 2.1 millions
tonnes and metal capacity to 460,000 tonnes at an investment of Rs.40900
millions. This project will substantially boost the Company’s export business
in coming years.
A.RAY JOINS AS NEW DIRECTOR (P&A), NALCO
Bhubaneswar, 11.2.2005: Shri A. Ray, Executive Director of the
Smelter and Power Complex, Nalco, Angul, has joined as the new Director
(Personnel and Administration) of the Company. The post had fallen vacant
following superannuation of Shri G. Upadhyaya.
After
completing his B.E. (Electrical) in 1970, Shri Ray worked in various
organizations like NTPC and Damodar Valley Corporation. He joined Nalco in 1982
as Dy. Chief Engineer (Power plant) and worked in various capacities. As
Executive Director (S&P), Shri Ray played a key role in the operation and
maintenance as well as successful capacity expansion of the Smelter and Power
plants.
Shri C.R. Pradhan takes over as CMD I/c of NALCO
Bhubaneswar,1.2.2005: Shri C.R. Pradhan, Director (Projects &
Technical) of National Aluminium Company Ltd (Nalco) has been assigned with the
additional charge of CMD of the Company following the superannuation of Shri G.
Upadhyaya, Director (P&A) and CMD I/c.
After
completion of B.Sc. Engineering (Electrical) from REC, Rourkela in 1970, Shri
Pradhan started his career as an Engineer in Bhilai Steel Plant and later
worked in Bokaro Steel Plant. He joined NALCO in 1982 as Dy. Chief Engineer
(Electrical) and has worked in various capacities. In 2001, he was elevated to
the post of Executive Director (M&R), NALCO.
NALCO Q3 NET UP 83.17% 20% INTERIM DIVIDEND
Bhubaneswar: 21.01.2005:
National Aluminium Company Limited (NALCO), India's leading manufacturer
and exporter has posted a net profit of Rs. 3060.7 millions for the 3rd quarter
ended December 31, 2004, which represents an increase of 83.17% over Rs. 1670.9
millions achieved during the corresponding period of previous year.
According
to the unaudited financial results taken on record at the Company's board
meeting held here today, the sales turnover during the 3rd quarter has recorded
an increase of 52.48% to Rs. 11719.5 millions over the corresponding period
figure of Rs. 7685.7 millions. This is the highest ever quarterly growth in
profit and sales turnover in the history of Nalco.
Thus,
the cumulative net profit of the Company during the 9-months period works out
to Rs. 8006 millions compared to Rs. 4726 millions in the previous year.
Similarly, the cumulative sales turnover has increased to Rs. 31255.6 millions
from Rs. 22980.8 millions during the same period of previous year. Meanwhile,
the Company has also declared an interim dividend of 20% amounting to Rs.
1288.6 millions.
The
Company has also reported improved production of alumina and aluminium during
the 9-month period. Alumina production increased to 1.160 millions tonnes from
1.136 millions tonnes and aluminium metal production jumped to 0.248 millions
tonnes from 0.223 millions tonnes in the previous period.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.17 |
|
UK Pound |
1 |
Rs.85.58 |
|
Euro |
1 |
Rs.58.67 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
72 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|