Bhubaneswar:Nalco CMD TK Chand has been awarded the ‘Golbal Indian Business Leader’ for outstanding professional achievements and inspiring social contributions.
Organised by Indian Achievers’ Forum, this award came on the back of Dalal Street Journal, India’s top rated equity investment magazine, rating Nalco as the fastest growing and high growth PSU in last 5years and Chand receiving the Roll of Honour for leading the company in growth path and achieving global benchmark of lowest cost producer of bauxite & alumina in the world.
Nalco DGM(corporate communication) Asutosh Rath received the award on behalf of the CMD.
Since Chand taking over as the CMD of Nalco in July 2015, the aluminium company has been consistently delivering across all parameters of production, productivity and profitability in the last 4 years, with the company registering its best performance in a decade by clocking a whopping Rs.1,732 crore net profit in 2018-19.
Nalco has recorded all-round success and global benchmarks in 2018-19. Along with significant achievements on production front, Nalco achieved the distinction of becoming the lowest cost producer of alumina in the world, as per the Wood Mackenzie report, for three consecutive years. Going a step further, the company has also been ranked as the lowest-cost producer of bauxite in the world for the year 2018-19. In matters of profitability, Nalco is way ahead of its private sector peers by registering EBIDTA margin of 28%. Industry analysts attribute Nalco’s splendid performance to the implementation of its New Business Model since 2016.