National Aluminium Company, known as Nalco, is a leading Indian public sector enterprise in the aluminium industry. Established in 1981, Nalco was formed as a collaboration between the Government of India and the Government of Odisha, to harness the abundant bauxite and coal resources in the region and become a globally competitive aluminium company.
Nalco’s journey began in 1981 when the company’s first aluminium smelter plant was commissioned in Odisha. Over the years, Nalco has achieved several remarkable milestones. In 1987, it set a world record by producing the highest-ever metal in a single pot at its smelter plant. This feat earned Nalco a place in the Limca Book of Records.
Over four decades in operations, Nalco’s growth has been synonymous with Odisha’s stellar industrial growth. Nalco is a brand deeply connected not just to the state’s economy but to the emotions and aspirations of millions. Nalco, a brand grown and nurtured in Odisha, has garnered accolades for India and keeps the country’s manufacturing sector on a roll.
Nalco in the past four years has been ably led and stewarded to dizzying heights by Mr Sridhar Patra, the incumbent Chairman and Managing Director (CMD). Mr. Patra assumed the helm of Nalco during a period marked by high input costs, business environment volatility, and the ever-shifting dynamics of global demand supply. Despite these challenges, his visionary leadership has propelled Nalco forward, registering growth on multiple fronts during the financial year 2022-23.
Under Mr Patra’s guidance, Nalco proudly holds the title of the world’s lowest-cost producer of bauxite and alumina. His strategic focus extends beyond present challenges, with a dedicated commitment to the early completion of the 5th Stream Refinery project and the development of Pottangi Bauxite Mines. Additionally, operationalizing the remaining allotted coal block in Odisha underscores Nalco’s commitment to sustainable growth under his stewardship.
The annual accounts for 2022-23 reflect Nalco’s robust financial performance with a sales turnover of Rs 14,171 crore, a net profit of Rs 1,544 crore, and an export turnover of Rs 4,217 crore. Shareholders have rewarded this success with approval for a final dividend of 20%.
Beyond the boardroom, Mr. Patra’s influence extends to industry associations. His election as the Chairman of CII Odisha State Council for the year 2022-23 is a testament to his leadership prowess and ability to contribute to the broader business ecosystem. His ‘Simple Living-High Thinking’ attitude resonates, creating a culture of result-driven teamwork at Nalco.
With a graduate degree in Commerce from Utkal University, an MBA in Human Resource Development and membership in the Institute of Chartered Accountants of India, Mr. Patra combines academic excellence with a rich professional background. His three decades of experience, including roles at THDC India Ltd and various Public Sector Undertakings, attest to his financial and strategic prowess.
Before assuming the role of CMD at Nalco, Mr Patra served as Director (Finance), bringing a wealth of experience in finance and accounts functions of PSUs. His expertise in corporate accounts, budgetary control, tax management, and strategic financial planning has been a driving force behind Nalco’s sustained growth.
Mr. Sridhar Patra is not merely a leader but a catalyst for transformation. His professionalism, hands-on approach, and sharp business acumen have endeared him to stakeholders within and outside the organization. As he continues to guide Nalco towards greater heights, his legacy of fostering growth, resilience, and innovation will undoubtedly leave an indelible mark on the industry.
Under his leadership, Nalco remains committed to its strategic focus on innovation, sustainability, and customer-centricity. By staying agile and adaptive, Nalco is well-equipped to overcome challenges and continue its trajectory of growth and success in the aluminium industry.
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