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Shareholding Info
  • Promoters
    51.28 %
  • Foreign institutions-FII
    11.56 %
  • Other domestic institutions
    5.37 %
  • Retail and other
    18.37 %
  • Mutual Funds
    13.42 %


Founded on January 7, 1981, National Aluminium Company Limited (NALCO) is based in Odisha’s capital Bhubaneswar. The Government of India owns 51.28% in NALCO.

The company operates an aluminium smelter with a capacity of 4.60 lakh tonnes per annum (TPA) and a 1200 MW captive power plant in Angul, Odisha, as well as a 68.25 lakh TPA bauxite mine and a 21 lakh TPA (normative capacity) alumina refinery in Damanjodi in the state’s Koraput district.

The company maintains seven operational stockyards across the country in addition to regional sales offices in Delhi, Kolkata, Mumbai and Chennai. NALCO also has a bulk cargo facility of its own for product export.

With a market capitalisation of ₹20,337 crore (as of December 18, 2023), NALCO is listed both on BSE and NSE.

NALCO’s share price has surged over 164% in the last three years.

Business operations

  • Bauxite Mine: Located in Koraput district, the mine has a capacity of 68.25 lakh MT.
  • Alumina Refinery: With a normative capacity of 21 lakh tonnes annually, NALCO’s alumina refinery is massive.
  • Smelter Plant: Located in Angul, Odisha, NALCO’s 4.6 lakh tonnes per annum aluminium smelter is equipped with advanced technology for smelting.
  • Captive Power Plant: A 1,200 MW captive power plant adjacent to the smelter ensures a steady supply of power. The surplus power is sold to the state grid.
  • Wind and Solar Power: To achieve carbon neutrality, NALCO has built 198 MW of wind power plants at various locations across India and 850 kWp of rooftop solar power plants on its premises.
  • Port, Rail: NALCO has automated ship handling and storage facilities in Visakhapatnam port for the import and export of caustic soda and calcined alumina. Kolkata and Paradip ports are also used to export aluminium. Using its own locomotives and wagons for both finished goods and raw materials, NALCO manages its surface transportation operations.

Expansion plans

  • 5th stream alumina refinery: Currently underway, this project aims to increase the refinery capacity.
  • Utkal coal mines: Mining activities have started contributing to cost reduction in coal procurement. Clearances for Utkal-E are in an advanced stage.
  • Caustic soda plant: In collaboration with Gujarat Alkalies & Chemicals Limited (GACL), the caustic soda plant started production in May 2022. Dispatch of caustic soda to NALCO began in August 2022.
  • Angul Aluminium Park Private Ltd (AAPPL): This is a joint venture with Odisha Industrial Infrastructure Development Corporation to boost ancillary, upstream and downstream products related to the aluminum industry.
  • Khanij Bidesh India Limited (KABIL): Formed in partnership with Hindustan Copper Ltd (HCL) and Mineral Exploration Corporation Ltd (MECL, this joint venture aims at acquiring strategic mineral assets overseas and facilitating supply in India.

Financial Highlights

  • The company reported a marginal rise in consolidated revenue to ₹14,490.49 crore in FY23 from ₹14,478.67 crore in FY22.
  • NALCO’s net profit saw a decline from ₹2,951.41 crore in FY22 to ₹1,434.55 crore in FY23.
  • The company’s earnings per share (EPS) declined from ₹16.07 in FY22 to ₹7.81 in FY23.
  • The earnings per share (EPS) also declined from 16.07 in FY22 to 7.81 in FY23.
  • The return on equity (ROE) dropped from 23.51 in FY22 to 10.92 in FY23.

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