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Home arrow Business News arrow NALCO Launches Aluminium chequered sheets for automobile industry
NALCO Launches Aluminium chequered sheets for automobile industry Print E-mail
Written by Satish   
Saturday, 22 October 2011
Bhubaneswar: National Aluminium Company Limited (NALCO), the Navratna PSU under the Ministry of Mines, has added another product to its portfolio with the launch of aluminium chequered sheets. NALCO's smelter at Angul in Orissa has started production with thickness ranging from 0.60 mm to 3 mm.

The new product has a high demand in automobile industry, vehicle manufacturing and for industrial flooring.

NALCO declared a total dividend payout of Rs.257.72 crore which includes the final dividend of Rs.0.50 per equity share capital i.e. 10% on face value of Rs.5 each, in addition to interim dividend of Rs.2.00 per equity share paid on pre-revised equity share capital i.e. 20% on face value of Rs.10 each. This sum is 60% higher than Rs.161.08 crore paid for the previous fiscal.  The company has earned a profit after tax of Rs.1069 crore for the year 2010-11.

Since inception, NALCO has paid Rs.3940 crore as dividend, including Rs.3435 crore as share of Govt of India. The dividend servicing after recent split and bonus has thus improved due to better business environment.

The final dividend cheque amounting to Rs.112.30 crore on the 87.15% shares held by the Govt. of India was handed over to Shri Dinsha J. Patel, Hon’ble Union Minister of Mines, Govt. of India by Shri B.L. Bagra, CMD, NALCO, in New Delhi today, in the presence of Shri S. Vijay Kumar, Secretary, Shri S.K. Srivastava, Additional Secretary and other senior officials of the Ministry and the company. The balance amount of Rs. 16.56 crore is payable to other shareholders of the company like banks, financial institutions and individual shareholders etc.

During 2010-11, NALCO earned a profit after tax of Rs.1069 crore, as compared to Rs.814 crore in the previous year, resulting in a jump of 31%. Similarly, the sales revenue at Rs.5959 crore was higher by 18%, as compared to the previous fiscal.

Last Updated ( Wednesday, 26 October 2011 )
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