New Delhi: State-owned Nalco on Monday announced formulation of a long-term corporate plan, which envisages the aluminium maker to reach a turnover of Rs31,248 crore and a profit after tax (PAT) of Rs3,010 crore by 2032.

With the release of corporate plan, mines secretary Arun Kumar “appreciated the efforts of Nalco in formulating a plan that provides a strategic way forward for the company up to 2032...The long-term strategy foresees the company to reach a turnover of 31,248 crore and a PAT of 3,010 crore by 2032," the company said in a BSE filing.

The new plan expects the company to reach a turnover of Rs18,171 crore with a PAT of Rs1,693 crore by 2024 with the augmentation of the smelting capacity to 1.1 million tonnes and refining capacity to 3.27 million tonnes, it said. The corporate plan also seeks to diversify into commercial mining in bauxite and chromite, conductors and lithium-ion batteries, the filing said.

“...the long-term corporate plan...has been prepared by top consultant KPMG to position Nalco in a growth trajectory taking into account emerging market conditions and evolving global scenarios," the company said.

The road map has been developed as per Niti Aayog’s guidelines, envisaging three years action plan, seven years strategy and 15 years vision to have progressive growth of the company. “This also includes forward looking new vision, mission and values of the company, which will give a direction to the company assuring steady growth, minimising the price volatility of commodities, while ensuring profitability," the company said.

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