Bhubaneswar: The Central-sector National Aluminium Company Ltd.(Nalco) is aspiring to post a net profit of Rs 2000 crore by 2020 and Rs 2,500 crore by the next three years, said the company CMD TK Chand.
Chand, who inaugurated the two-day 5th National Management Conference(NamCon-2019), here at Asian School of Business Management on Friday, said, ” Now the company is all set to scale higher on financial front and envisages achieving a net profit of more than Rs. 2000 crore by 2020 and Rs.2500 crore in the next three years.” He added that with the business model in place, the company doubled its net profit from Rs.669 crore in FY 2016-17 to Rs.1342 crore in FY 2017-18.
Sharing the success story of Nalco Chand said that when the global economy was reeling under economic slowdown, with the metal sector being affected the worst; Nalco took a conscious decision of introducing an all weather business model that focuses on bench marking and quantification. Besides, he added, to retain business excellence, the company has consistently been working on with focus on sustainability through innovation, adoption of new technology, lower production cost and nurturing its human resources.
Addressing the NamCon-2019 on “Weatherproof organisation: Challenging the Challenge”, Nalco CMD said: “Achievements give motivation and purpose gives objectivity to any organization but to remain sustainable and successful, business organizations need to have insulation from detrimental effects of business environment. One must remain well aware in advance of the changes in technology, statutory regulations and preferences of the customers.”
Chand also released the conference compendium and newsletter of ASBM. Among others, ASBM founder director Prof. Biswajeet Pattanayak, senior associate vice-chancellor, Southern University, Louisiana, USA, Prof. Bijay Kumar Sahoo, former director ICAO and former chairman of OPSC Vivek Pattanayak, former Nalco CMD G. Upadhyaya also addressed the conference.