New Delhi: The Central sector aluminium behemoth,Nalco, is aspiring to become a Rs 31,000 crore company by 2032.
Rolling out the Corporate Plan 2032, Nalco has set a target to reach out a turnover of Rs 31,248 crore and a PAT (profit after tax) of Rs 3010 crore by 2032. In a medium term, the new plan envisages Nalco to reach a turnover of Rs. 18,171 crore with PAT of Rs. 1,693 crore by 2024 with enhancement of the smelting capacity to 1.1 million tons and refining capacity to 3.27 million tons.
The Corporate Plan 2032 also envisages backward integration to CT Pitch and Caustic Soda; forward integration to extrusion, foils & castings; expanding value addition capacities in wire rods & rolled products; diversifying into commercial mining in bauxite & chromite, conductors & lithium-ion batteries.
The Corporate Plan 2032 has been prepared by top consultant M/s KPMG to position Nalco in a growth trajectory taking into account emerging market conditions and evolving global scenario. The Plan has been developed as per the guidelines of Niti Aayog, evnisaging 3 years action plan, 7 years strategy and 15 years visiton to have progressive growth of the company.
The Nalco Corporate Plan 2032 was released by the union mines secretary, Arun Kumar, in presence of additional secretary Dr. K. Rajeswara Rao, and joint secretary N.K. Singh, Nalco CMD Dr. TK Chand and director (finance) KC Samal, in New Delhi on Monday.
Arun Kumar appreciated the efforts of NALCO in formulating the plan that provides a strategic way forward for the company up to 2032.
“The Nalco Corporate Plan 2032 is a forward looking new vision, mission and values of the company which will give a direction to the company assuring steady growth, minimizing the price volatility of commodities while ensuring profitability”, said the Nalco CMD.