Nalco gets 'excellent' tag among PSUs

It has also been rated 'excellent' with a score of 97.5 for its compliance with the guidelines on corporate governance for Central PSUs

National Aluminium Company (Nalco), a navratna PSU under Union mines ministry has got excellent MoU (memorandum of understanding) score of 1.5 by the department of public enterprises.

The score is in recognition of Nalco's sterling performance in 2021-13. The aluminium major had last achieved the excellent MoU score in 2006-07.

Nalco has also been rated 'excellent' with a score of 97.5 for its compliance with the guidelines on corporate governance for Central PSUs.

During 2012-13, Nalco posted its highest ever net sales of Rs 7247 crore, 2.46 per cent more than the target of Rs 7073 crore envisaged in the MoU.The company also turned a net profit of Rs 593 crore with aluminium sale of 403,102 tonne and alumina sale of 984,722 tonne.  Nalco reported the highest ever bauxite production of 5.41 million tonne and best ever alumina output of 1.8 million tonne in the last fiscal. The company generated 6076 units of power from its captive power plant (CPP).

Nalco's excellent rating comes on the back of its significant achievements and activities towards corporate social responsibility (CSR), sustainable development and research & development (R&D).As part of its MoU (signed with the Union mines ministry) on harnessing renewable energy sources, Nalco has diversified into wind power generation with the commissioning of 50.4 Mw plant at Gandikota in Andhra Pradesh. The project installed at a cost of Rs 274 crore was synchronized in December 2012.

Sale of power has already commenced from this plant