Multibagger NALCO share price rises 5% to 52-week highs on strong business updates; achieves record production and sales
- Stock Market Today: Multibagger National Aluminium Co. Ltd (NALCO) share price gained more than 5% during the intraday trades on Wednesday to scale 52-week highs on strong business updates. NALCO achieved record Aluminium and Bauxite production during FY24
Multibagger stock NALCO ( National Aluminium Co. Ltd. ) share price gained more than 5% during the intraday trades on Wednesday on strong business updates. The share price already is up more than 118% over the last one year on strong earnings growth and business outlook.
The company in its release on the exchanges on Tuesday post market hours said that it had achieves record Aluminium and Bauxite production during FY24 and set a record in production and sales.
NALCO (National Aluminium Company) has broken all prior records since its inception by producing the most cast metal (4,63,428 metric tons), the most bauxite (76,00,230 metric tons), and the most metal (4,50,00108 metric tons), highlighted the company.
The Nalco has expanded its product line to include a new Aluminum Alloy Ingot (AL59) for FY 23–24.
NALCO (National Aluminium Company) Alumina Refinery produced 21,24,000 metric tons of alumina hydrate, achieving a 101.15% capacity utilization, and the Captive Power Plant produced a gross of 7193.62 million units of power.
Working on backward integration NALCO (National Aluminium Company ) constructed and operationalized its Utkal D coal block in FY 23–24 and produced 2 million tonnes of coal. Notably this is mine's max rated capacity.
Coal security is of utmost importance in the energy intensive Aluminium production business. The captive coal mines will lead to improvement in profitability for Nalco (National Aluminium Company) too.
This strong operational performance has also set the tone for strong Q4 earnings for NALCO (National Aluminium Company). During the December 2023 quarter NALCO (National Aluminium Company) . This was primarily aided by higher alumina sales and stronger alumina prices. The standalone revenue of ₹3346.9 crore, was up 1.5% YoY and 10% sequentially leading NALCO (National Aluminium Company) earnings beat market projections by 4.5%.
The sales volume of alumina, for NALCO (National Aluminium Company) which was approximately 343,000 tonnes, increased by 19.5% YoY and significantly by 52.1% sequentially during Q3. However the predicted 114,000 aluminum sales volume was down 3% sequentially and flat YoY, with fewer deliveries of aluminum to export and greater alumina exports in succession.
Analysts at Antique Stock Broking post Q3 had said that in the back of Nalco's integrated business strategy, attractive dividend yield, and steady outlook for aluminum and alumina prices (bolstered by constrained supply), they continue to be optimistic about the company.
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