NALCO double its Net Profit
Global Benchmarking helps National Aluminium Company Limited (NALCO) double its Net Profit
NALCO registers more than 100% growth from Rs.1342 crore in 2017-18 against Rs.669 crore last year
On achieving the global benchmark of low cost producer in Bauxite Mining and Alumina making, National Aluminium Company Limited (NALCO), a Navratna PSU under Ministry of Mines, Government of India, has proved its mettle by registering high in terms of both physical and financial performances.
According to the audited financial results for 2017-18, taken on record by the Board of Directors in a meeting held here on 26thMay 2018, during the Financial Year 2017-18, NALCO has registered more than 100% growth i.e., Rs. 1342.19 crore against Rs. 669crore in previous year. In 4th quarter the Company has earned a net profit of Rs.257.06crore. During the year, NALCO was the third highest net Foreign Exchange Earning CPSE in the Country. The Net sales turnover for the year is Rs. 9,377 crore (highest ever since inception) registering a growth of 26 % over last year. Export earning of Rs. 4,076 crore also highest ever since inception registering a growth of 12 % over last year.
Speaking on this achievement of the company, Dr. Tapan Kumar Chand, CMD, NALCO, said, “Year 2017-18 has been a very rewarding year for NALCO on all fronts. We are looking beyond earning just profits. We have improved on all parameters – record production, highest sales and turnover. While focusing on the present, we are ensuring we don’t lose sight of what the future holds. We are introducing a Game Changing Business Model that will bring additional Rs.935 crore net profit to the Company. The model provides for focusing operation of Utkal-D, end of 2nd Qtr 2019, commissioning of 1 million tonne of Alumina Refinery, setting up of Wire Rod Mill 3, bringing into stream Caustic Soda Plant, CT Pitch Plant, etc.
Dr. Chand pitched for support to Mother Plant like NALCO for achieving global competitiveness and Mother Plant in turn to promote employment and employability eco system. He cited Angul Aluminium Park as a concrete step for setting up employment ecosystem. He also informed that NALCO is making tie up with ALMEX of USA to set up high end value products. NALCO will also be promoting micro & small industries in downstream through a cash less model of providing aluminium ingot and taking back finished products for marketing by NALCO. Such hand holding by NALCO is bound to make these micro & small industries viable and thereby creating substantial number of employment and warming up business environment in Odisha. While congratulating NALCO Collective for the stellar performance, Dr. Chand also informed about the new projects in pipeline and the company’s growth plans.
Highlights
Production:
- NALCO has been rated as the lowest cost producer of alumina in the World consecutively for the 2 years i.e. 2016 & 2017 as per report of Wood Mackenzie.
- Panchpatmali Bauxite mines of NALCO rated as the 2nd lowest cost producer in the World in 2017 as per report of Wood Mackenzie;aiming to become the lowest in FY 2018-19.
- Bauxite Mines (North-Central block of Panchpatmali Mines) achieved 100% capacity utilization with transportation (production) of 68.25 lakh MT for second successive year.
Bauxite transportation (production) from new mine i.e. South block of Panchpatmali Mines started in 4thquarter of FY 2017-18. Transportation from South block is 2 lakh MT and combined transportation of both the Mines is 70.25 lakh MT, highest ever since inception.
- Alumina Refineryachieved 100% normative capacity (i.e. 21 lakh MT) in successive years with production of 21.06 Lakh MT Alumina Hydrate. 5th Turbo Generator of Steam Generation Plant commissioned.
- Aluminium Smelter production consistently increasing over the last 5 years and achieved highest cast metal production of 4.26 lakh MT (in last 5 years), registering a growth of 9.8 % over last year.
- CPP achieved ‘Net Power Generation’ of 6,547 MU, registering a growth of 7.9 % over previous year.
- Wind Power: 4 wind power units at different location of the Country generated 252 MU against 206 MU last year, registering a growth of 22 %.
- Five Star Rating for Panchpatmali Bauxite Mines by Ministry of Mines for 2nd consecutive year.
- SCOPE Award of Excellence in Institutional category (Navratna/Maharatna) & SCOPE Meritorious Award for CSR from Hon’ble President of India.
- National Energy Conservation Award in Aluminium Sector for the year 2017 from Bureau of Energy Efficiency (BEE).
Financial:
- In FY 2017-18, NALCO achieved highest net profit in last 10 years of Rs. 1342crore against Rs. 669crore in previous year.
- Third highest Net Foreign Exchange Earning CPSE in the Country.
- The Net sales turnover for the year is Rs. 9,377 crore (highest ever since inception) registering a growth of 26 % over last year. Export earning of Rs. 4,076 crore also highest ever since inception registering a growth of 12 % over last year.
- For 2017-18 an interim dividend of 94% amounting to Rs. 908 crore paid, out of which Rs. 547 crore paid to Govt. of India. This is the highest ever dividend declared by the Company.
- Contribution to Public exchequers: Till FY 2016-17, Rs. 27,468 crore towards taxes, duties, royalties, dividend etc. out of which Rs. 21,552 crore paid to Central Govt. and Rs. 5,916 crore paid to State Govt.
- CAPEX: Continuous increase in CAPEX expenditure in last 3 years. In FY 2017-18 there is 23.5% increase in CAPEX over last year.
Growth Plan:
Projects under Execution:
- 1 MTPA capacity 5th Stream Alumina Refinery brownfield project at existing Alumina Refinery at Damanjodi Estimated project cost: Rs. 5,540 cr, Expected Completion: April, 2021
- Development of Pottangi bauxite mines at Koraput, Odisha.Project cost included in 5th stream Refinery, Expected Completion: April,2022
- Development ofUtkal D&E coal mines at Angul, Odisha. Estimated project cost: Rs. 534 cr, Expected Completion:Utkal-D: FY 2019-20, Utkal-E: FY 2022-23
- Upstream Integration: 2.7 Lakh TPA Caustic soda plant in JV with Gujarat Alkalies& Chemicals Limited (GACL) at Dahej, Gujarat. Estimated project cost: Rs. 1,999 cr, Expected Completion: 2020
- Downstream Integration: Angul Aluminium Park in JV with IDCO at Angul, Odisha to promote downstream & ancillary industries.Estimated project cost: Rs. 100 cr, Expected Starting: FY 2019-20
- 60,000 MTPA capacity Alloy wire rod plant at its Smelter in Angul to produce more value added products. Estimated project cost: Rs. 131 cr, Expected Completion: September, 2019
- Renewable Energy Projects:Two wind power plant of 25 MW capacity each in Tamilnadu. Estimated project cost: Rs.310cr, Expected Completion: Plant 1: FY 2018-19, Plant 2: FY 2019-20.
- Efficiency Improvement Project:HRD- DCW in place of existing settler- washer at stream- 1,2,3 of Alumina Refinery to improve productivity and efficiency. Estimated project cost: Rs. 355 cr, Expected Completion:FY 2020-21.
Envisaged Projects:
- Establishment 6 lakh TPA brownfield Smelters in Odisha
- Establishment 6 lakh TPA greenfield Smelters in Odisha
- 1320 MW Thermal power plant at Angul Odisha
- Cluster of downstream units of Rolled Products / Foil / Wheel / Extrusion
- KABIL (KhanijBidesh India Limited): JV Company with HCL and MECL to identify, acquire, develop, process and make commercial use of strategic minerals in overseas locations for supply in India.
- JV Company with MIDHANI for establishment of high end aluminium alloy manufacturing plant for meeting the requirement of defence, aerospace, automotive and transport sector.
- Upstream Integration: CT Pitch plant in JV with NINL in Odisha
Corporate Plan:
- To face the challenges of ever evolving market and position the Company in a sustainable growth path, a new Corporate plan with a new vision has been developed and rolled out in Jan’18 with well-defined 3 year action plan, 7 year strategy & 15 years vision of being a Premier and Integrated company in the Aluminium value chain with strategic presence in Mining both domestic & global, Metals and Energy sectors.
- It provides a roadmap for multi-fold growth in revenue to the sum of Rs.18, 171 cr and Rs.31,248cr by the year 2024 & 2032 respectively.
Research & Development:
- During FY 2017-18, four (4) patents have been granted in the name of NALCO. Till date, total patent filed are 35 out of which fifteen (15) patent granted and five (5) patent commercialized.
- The first of its kind in the world, nano based Emrion technology Defluoridation Plant for treating effluent water of smelter plant and making it potable achieved success at commercial scale.
- Waste to wealth creation: Gallium from spent liquor, iron from red mud are some of the frontline projects the company is spearheading in this direction for commercial success.
Corporate Social Responsibility:Wealth to Welfare
The CSR Expenditure for the year 2017-18 is Rs. 29 cr against the target of Rs. 27.88 cr.
Health Care: 2 full-fledged Hospitals and 8 Mobile Health Units accessible to people of periphery villages benefiting more than one lakh patients every year. Construction of modern Eye Hospital at Angul is in progress.Construction of Night Shelter in AIIMS, Bhubaneswar for attendant of indoor patients and OPD patients availing long term treatment.
New Horizons:
- Indradhanush:Till date 855 poor & tribal children from Maoist-infested Villages of Koraput sponsored for free residential education in reputed schools.
- ‘BetiBachao, BetiPadhao’:‘NALCO kiLadli’: Total 277 meritorious girl students of BPL category benefitted till date under the scheme, with financial assistance. Plans underway to take this initiative to Pan-India level.
- ODF Village: 2 villages completed in Koraput district. Another 9 villages of Angul and Koraputdistricts taken up for make it ODF.
- Mobile Medical Unit :5 in Angul & 4 in Damanjodi footfall morethan one lakh
- PM’s Iconic Shrine Development Programme:
- 13 projects have been taken up at Shri Jagannath Temple, Puri & surrounding to upgrade the infrastructure & maintain cleanliness.
- Complete LED illumination of the Jagannath temple done. Both side walls of VIP road, Puri beautified with thematic painting based on Jagannath culture.
- Renovation and beautification of Gandhi Park taken up to encourage eco-tourism.
- Installation of clean water posts at different strategic location of Puri and renovation of museum inside Jagannath Temple is taken up.
- Launch of battery-operated vehicle service free of cost for senior citizens, differently-abled passengers and sick people at Puri railway station.
- Skill India initiatives of GoI:
- 428 local youth have been placed in various job roles by skilling them.
- A Centre of Excellence for Skill Developmentwith simulator facility is being established at Bhubaneswar.
Sightsavers unveils its new campaign #UnfoldTheirDreams
Releases case stories inspiring people to reach out more and spreads the importance of donation
National, May 28, 2018: Sightsavers, a leading global development organization working in over 30 countries to combat avoidable blindness and promote equal opportunities for visually impaired unveiled their new digital campaign #UnfoldTheirDreams. The campaign aims to promote and ensure access to comprehensive and sustainable eye health in India through case studies on the success stories of people with eye disabilities and the impact of donation to others’ lives. This is further amplified by posts on their social media handles. The campaign represents one thing that is common to everybody – dream of who we want to be, which is something we all start thinking about from a very early age. When people will start to feel that the blind, no matter how willing and hardworking, cannot achieve their dreams, it becomes easier to accept that they are suffering because this notion is so relatable.
Since 1966, Sightsavers India has rigorously worked in their three core areas – Eye Health, Social Inclusion and Inclusive Education. They have supported the treatment of millions of people with eye disorders and brought eye services to some of the least served areas of the country. They have impacted lives of people in 100 districts across 8 priority states by building sustainable programme models, which have been endorsed and adopted by the government. In the last year, Sightsavers has conducted 2,00,451 sight restoration surgeries, 41,21,804 eye screenings, distributed 3,23,660 spectacles and refracted 13,20,507 people.
Speaking on the campaign, Avijit Dey, Director Funding & Marketing said, “Sightsavers India’s research shows that ad campaigns are a thing of the past. We are no longer users, consumers, shoppers. We are people again. In order to represent the beneficiary in a relatable light and to create an emotional connect to awaken an understanding of how the blind also have dreams we have conceptualised – ‘Unfold their dreams’; breaking the perception of “US and THEM. Through this campaign we are letting the blind tell their own story of their hope and dreams and how any help from us can bring them one step closer to achieving it – enticing apathy followed by action.”
Sightsavers has positively impacted the lives of millions of people in India, whether it is by restoring their sight (from blindness or near-blindness) or by helping rebuild the lives of those who will never regain their sight. Few of the #UnfoldTheirDreams case studies can be viewed here:
· An extraordinary life: Kalpana’s story
· Back on track: 9 yr-old Sonali’s story
· Sanjesh Yadav’s story – a family with cataract success story
· Spreading the word: Ganga’s story
· When a daughter made her mother see the world clearly: Julekha’s story
Israeli, Russian DMs to meet in Moscow
Israeli Defense Minister Avigdor Lieberman will meet with his Russian counterpart, Sergey Shoigu, in Moscow, Israel’s Defense Ministry said in a statement on Monday. The meeting will take place on Thursday, Reuters reports. Shoigu had issued an invitation to the Israeli defense minister, according to the statement, which provided no details about the nature of the discussions. They come against the backdrop of Israeli calls for an end to any Iranian military presence in Syria. “Our position on Syria is clear,” Prime Minister Benjamin Netanyahu told his parliamentary faction in broadcast remarks on Monday. “We believe that there is no place for any Iranian military presence, anywhere in Syria.”
CAIT FILED PETITION AGAINST WALMART-FLIPKART DEAL
CAIT FILED PETITION AGAINST WALMART-FLIPKART DEAL IN
COMPETITION COMMISSION TODAY
India’s largest body of trading community representing about 7 crore traders across the Country, the Confederation of All India Traders (CAIT) today filed its objection petition in Competition Commission of India (CCI) against the Walmart-Flipkart deal. The petition was filed by CAIT Advocate Mr. Abir Roy.
CAIT National President Mr. B.C.Bhartia & Secretary General Mr. Praveen Khandelwal informed that in its petition, the CAIT has strongly objected the merger of two companies and said that Walmart which is world’s largest retailer will create an unfair competition and uneven level playing field and will indulge in predatory pricing, deep discounts and loss funding.
The petition further said that Flipkart is a combination of predation, exclusive tie-ups and of preferential sellers where even online vendors face discriminatory conditions and Walmart being the owner by virtue of 77% share is bound to give preference to its inventory. There will be denial of market access to non Prefered sellers coupled with complete annihilation of small time traders on offline platform.
Walmart, arguably world’s largest retailer in the market, would sell its inventory on the platform of flipkart.com either directly or through a web of associated preferred sellers with the result that their market share would rise exponentially and pure offline retailers / wholesalers would have two options either exit the market or sell their goods on flipkart.com and face discriminatory terms and conditions from flipkart.com in comparison to its preferred sellers. This will create an unhealthy competition much to the disadvantage of both offline and online sellers.
It was also submitted that access to vast resources of data to be used for targeted advertisements for consumers as also creating private label and sell the same through preferred sellers.This transaction would result in vertical integration which no other player in India would have. The combined entity would have affiliates in the entire supply chain. The Complainant apprehends that the deal is bound to circumvent established laws and FDI policy of the government since the ultimate object of Walmart is to enter the retail trade of the country and in the absence of any policy on e-commerce or retail trade, it would be easy for Walmart to reach out to retail market, which otherwise it cannot enter due to FDI policy.
Capital is huge entry barrier (due to the manner in which the said market has evolved) and even established players would find it difficult to enter this market unless they are fine with burning cash.In sum and substance, the said transaction would result in removal of several competitor or competitors in the market and would soften the competition, to a great extent. The CAIT has prayed to dis-allow the transaction between Walmart & Flipkart
TABOOS AT THE NIINE MOVEMENT’S “MENSTRUAL AWARENESS CONCLAVE”
MEGASTAR AKSHAY KUMAR & NATIONAL CHANGE-MAKERS TACKLE PERIOD TABOOS AT THE NIINE MOVEMENT’S “MENSTRUAL AWARENESS CONCLAVE”
The Niine Movement, an ambitious five-year plan aimed at raising awareness on the importance of menstrual hygiene and tackling the taboos associated with menstruation, officially launched at the inaugural Menstrual Awareness Conclave in Delhi, India to mark International Menstrual Hygiene Day on 28th May 2018. The Menstrual Awareness Conclave is supported by India’s Pad Man, Akshay Kumar and Shabana Azmi, who graced the event as its Chief Guest. The event took place at Hotel ITC Maurya, which includes several activists, who participated on a discussion made on the same.
Despite menstruation being an experience lived by as many as 355 million girls and women in India, approximately only 18% of them currently use sanitary napkins with approximately 82% of women often reverting to unhygienic and unsafe alternatives such as old cloths, rags, hay and even ash. The reasons behind this staggering statistic include decades of archaic attitudes and stigma surrounding menstruation, the lack of choice and accessibility for safe and affordable sanitary products and the limited awareness of the importance of proper menstrual hygiene management; even amongst the 18%, some are still unaware of maintaining proper genital hygiene and the correct usage of the product, often overusing sanitary napkins.
As a result of the unwillingness to discuss menstruation, there is a subsequent culture of silence and shame which has left women and girls with no choice but to partake in unsafe menstrual practices, frequently resulting in urinary and reproductive tract infections, stress, and anxiety. In some cases, this has even resulted in girls and women becoming victims of gender-based violence, including harassment, physical assault, and/or rape; this vulnerability is exacerbated by limited access to WASH facilities, desire to hide evidence of menstruation, and lack of sanitation in homes.
The Menstrual Awareness Conclave was graced by film personalities, academics, policymakers, government officials, activists, medical experts, business stalwarts, NGOs, and thought-leaders, to discuss the impact that stigma and taboos have had on menstruation, which have held girls and women back for centuries from achieving their potential and living a life of respect and dignity. The event aims to provide an essential platform focusing on collaboration, innovation and cooperation to assess, plan and put into action sustainable solutions to tackling menstrual issues across India, with the support of leading change-makers.
Amongst the high profile attendees,Indian actor Akshay Kumar, who’s most recent award-winning film Pad Man, tackled the issue of menstrual taboo. He recently began his support of the Niine Movement with the launch of the nationwide campaign #18to82 to bridge the gap between the minority that are able to adopt hygienic practices and the large majority who are not able to make an informed choice in these matters.
Speaking about his support of the Menstrual Awareness Conclave, Akshay Kumar said: “The Niine Menstrual Awareness Conclave is a crucial assembly of minds, influencers and menstrual awareness champions – convening under one roof with the common goal of tackling the urgent issues, taboos and stigmas associated with menstrual health and hygiene. We, as a collective society, can only implement change once we initiate discussion, and the conclave on International Menstrual Hygiene Day is a fitting platform for us to truly empower a nation of women. Together we can ensure that every woman and girl has the right to manage her period safely and with dignity.”
The Menstrual Awareness Conclave also featured two high-level panels engaging prominent and expert panellists. The first panel is Chaired and Moderated by Poonam Muttreja, the Executive Director of the Population Foundation of India (PFI), which has been at the forefront of policy advocacy and research on gender, population, health and development issues in India. With taboos surrounding menstruation preventing women and girls from achieving empowerment, respect and dignity for centuries, the first panel will delve deep into the socially constructed origin of the menstrual stigma and the physical impact this can have on girls and women, in particular reproductive and urinary tract infections. If neglected, these infections can have long term consequences including increased vulnerability to other infections and in extreme cases can leave women vulnerable to infertility.
Poonam Muttreja, speaks to eminent panellists focusing on the importance of menstrual hygiene management awareness and practice and the work already being conducted on ground to tackle the issues and address the barriers. Some of the panelists include film actor and women’s rights activist Shabana Azmi, Avinash Kumar, Director Programme and Policy, WaterAid India, an NGO which aims to transform the lives of the poorest and most marginalised people by improving access to WASH (Water, Sanitation, and Hygiene) services, Nishtha Satyam, Deputy Representative, UN Women India MCO and Dr. Jaideep Malhotra, President of the Federation of Obstetric and Gynaecological Societies of India (FOGSI).
According to UNESCO, 20% of girls drop out of school upon reaching puberty the second, most common cause of absenteeism after household work. The second panel will focus on the safety and security of girls after they reach puberty in the school environment, an important concern for girls and their families that needs to be addressed in building a healthy ecosystem in which girls and women feel empowered to make healthy choices with respect to menstruation.
The Niine Movement and Niine Menstrual Awareness Conclave is conceived by social entrepreneur Amar Tulsiyan. Speaking about the launch, founder Amar Tulsiyan said: “Menstrual hygiene awareness is an issue that is severely under-represented in this country, as demonstrated by the amount of women who still do not use proper menstrual hygiene products to manage their periods. Even amongst the 18%, they lack awareness of the importance of using clean sanitary napkins and not to reuse the product, which is why as part of our theory of change, we need to Enrol existing menstrual hygiene product users and those who don’t in a supportive, taboo free environment to create an open forum for discussion and deliberation. With Niine’s Menstrual Awareness Conclave, I am hopeful that we can inspire and motivate everyone to support the cause as I believe that we can all make a difference and break the taboo around menstruation by talking, educating and collaborating. That’s what the Niine Movement is all about. ”
A protest against Pakistan’s new Gilgit-Baltistan law
Pakistan, several people have been injured in clashes between police and protesters during a demonstration against the so-called Gilgit-Baltistan order.
Prime Minister Shahid Khaqan Abbasi has summoned a meeting of the National Security Committee (NSC) today to discuss security of the state and border issues among other affairs, sources informed Geo News.
Besides reviewing the implementation of Federally Administered Tribal Areas (FATA) reforms, the top civilian and military leadership will also mull over the regional situation and issues pertaining to eastern and western borders of the country, sources added.
According to the media reports, police fired tear gas shells and resorted to aerial firing in Gilgit yesterday to stop protesters approaching towards Gilgit-Baltistan Assembly for a scheduled sit-in against the newly introduced order.
Politicians, cutting across party lines, held protest rallies across Gilgit-Baltistan demanding constitutional rights for the region. Civil rights groups in Pakistan have also criticised the order.
Pakistan Prime Minister Shahid Khaqan Abbasi has seized more authority from the local council to deal with the affairs of the disputed region through the Gilgit-Baltistan Order 2018 which was passed on May 21.
Paraguay to have first woman president
Paraguay will have a woman president for the first time in its history, at least temporarily, after outgoing leader Horacio Cartes stepped down Monday ahead of schedule.
Vice President Alicia Pucheta, 68, will complete Cartes´s mandate after he resigned to become a senator.
On August 15, fellow conservative Mario Abdo Benitez, elected in April 22 polls, will begin his five-year term as president of one of Latin America´s poorest countries.
The parliament is due to confirm Cartes´s resignation and proclaim Pucheta as interim president on Wednesday.
Opposed to the legalization of abortion, Pucheta is from the right-wing Colorado Party, which has been in power in Asuncion for decades.
Opposition Senator Desiree Masi said she does not see Pucheta´s nomination as an advance for women in Paraguay.
“A woman who has shown her complete submission to those in power does not represent us,” she said. “One day, a woman will be come to power as she should, through the ballot box.”
But Lilian Samaniego, a senator from the Colorado Party, hailed the former lawyer´s accession to the position as an example to “motivate Paraguayan women to continue to fight for real equality of opportunity with men.”
Paraguay has just eight women among its 45 senators, and 11 among the 80 members of the lower house.
Cartes´s resignation had been expected since he was elected to the Senate in the April elections. The new senators are to be sworn in on June 30.
Landlocked Paraguay — sandwiched between Argentina, Bolivia and Brazil — enjoyed consistent economic growth during tobacco magnate Cartes´s five years in power, but failed to shake off persistent poverty, corruption and drug trafficking.
It remains a land of contrasts, still marked by the 1954-1989 dictatorship of general Alfredo Stroessner.
Despite an official campaign against endemic corruption, Paraguay remains 135th out of 180 countries on the 2017 corruption index of Transparency International.
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