Nalco CMD receives ‘Global Indian Business Leader’ award

For outstanding financial and production achievements over the past four years, the CMD of National Aluminium Company Limited, Dr. Tapan Kumar Chand, has been honoured with the ‘Global Indian Business Leader’ award on June 17, 2019.

On behalf of Dr. Chand, Nalco DGM (Corporate Communication) Asutosh Rath received the award in New Delhi. Based on Dalal Street Journal’s rating of Nalco as the fastest growing PSU in the last five years, the award ceremony organised by the Indian Achievers’ Forum acknowledged Dr. Chand for leading the company in growth path and achieving the global benchmark of the lowest-cost producer of bauxite and alumina in the world. 

Since July 2015 when Dr. Chand joined Nalco as CMD, the company had been consistently delivering across all parameters of production, productivity, and profitability in the last four years. During 2018-19, it achieved a whopping net profit of INR 1,732 crore.

Besides significant achievements on the production front, Nalco also became the lowest-cost producer of alumina in the world, as per the Wood Mackenzie report. For the year 2018-19, the company also ranked as the lowest-cost producer of bauxite in the world.

In matters of profitability, Nalco is way ahead of its private sector peers by registering an EBIDTA Margin of 28 per cent. Industry analysts attribute the company’s splendid performance to the implementation of its New Business Model since 2016.