NALCO targets 15 per cent revenue growth in FY19

Aluminium mining major and Navratna CPSE, National Aluminium Company Limited (NALCO) has informed the bourses that it has signed MoU with the Ministry of Mines, Government of India, setting highest ever target of Rs. 9,350 crore revenue from operations for FY19, which is 15 per cent higher than last year.

The MoU has also set a target of 2.1 million tons of production of Alumina with 100 per cent capacity utilisation and an optimum Aluminium production target of 4.15 lakh tonnes. For achieving these targets, the company has planned capex of around Rs. 1,100 crore for FY19.

NALCO is mainly engaged in the production activity of alumina, aluminium and power. It operates in three segments: Chemicals, Aluminium and Unallocated Common.

On Tuesday, the stock opened at Rs. 76 per share and touched an intraday high and low of Rs. 77.20 and Rs. 75, respectively, on the BSE.