Nalco unveils new business plan to increase profit

Bhubaneswar: NALCO CMD Dr Tapan Kumar Chand on Monday unveiled a new business plan to increase the company’s profit to four digits.

The business plan “NALCO:3-4-5” envisages increasing NALCO’s 3-digit profit figure to 4-digits and 4-digit turnover to 5-digits, said a statement on Monday.

NALCO has already achieved 4-digit figure at Rs.1342 crore in 2017-18 and is likely to achieve more than Rs.1600 crore in 2018-19.

The objective is to further increase and sustain the profit at the 4-digit level. Similarly, turnover of NALCO for the first time in 2018-19 will be in 5-digits. It is expected that the net turnover of NALCO during this current year will be more than Rs.12,000 crore.

Under this NALCO business plan, the company will turn into a hardcore business organisation with the complete focus on business excellence.

“With the emergence of the 4th Industrial Revolution, Artificial Intelligence, Internet of Things, Robotics, Augmented Reality etc would be the trendsetters and NALCO is all set to lead this revolution. The new technology: Industry 4.0 will bring in a substantial reduction in capital investments and Indian industries needs to leverage it to remain globally competitive. NALCO is gearing up in full steam to meet this challenge,” said Chand.

Dr Chand, during his visit to NALCO’s Mines & Refinery Complex in Damanjodi, inaugurated the new Electrostatic Precipitator (ESP) of Boiler-2, which has incorporated the latest technology for pollution control from the power plant.

He also laid the foundation stone for the HRD-DCW of Alumina Refinery which will enhance the productivity of the plant and reduce the consumption of caustic soda.

It may be mentioned that during 2018-19, Alumina Refinery is all set to exceed its rated capacity in the production of Alumina, which has a fairly good global market.

Dr Chand also inaugurated the state-of-the-art Auditorium at Damanjodi with a seating capacity of 500.

Dr Chand announced that in the near future, NALCO plans to spend around Rs.100 crores under its CSR arm in the areas of health care, literacy, infrastructure, water management and women empowerment in Koraput district.

In order to motivate performance amongst employees, CMD Dr Chand presented Excellence Awards to forty-one employees across various levels of the organisation.

He reiterated that behind the success of any organisation lies the dedication and hard work of employees.

He said that while technology and the business environment are of paramount importance, the key driver of any successful enterprise lies in the motivation and competencies of its employees.