Tuesday 21st September 2021

Fortune favours the Brave, T K Chand, CMD (NALCO)

Oct 22nd, 2016 2:17 pm | By | Category: LATEST NEWS

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T.K. Chand, (CMD, NALCO) has turned around NALCO within a very short span of time after taking over as CMD NALCO. Chand kept his emphasis on product diversification, up expansion projects, under Chand’s leadership Nalco (Navratna CPSU ) performance has been sound, even as about 70 per cent aluminium smelters across the world reported loss. Nalco has remained profitable all through by successfully handling the market downturn, by maximising bauxite mining and alumina refining, adding new pots and augmenting production, besides effecting several cost reduction measures, particularly in raw material and energy consumption. Performance of Nalco during the 2015-16 fiscal has been quite encouraging with a gross turnover of Rs 7,157 crore and net profit of Rs 731 crore.

‘Fortune favours the Brave’ T K Chand along with his able team put rigorous effort aiming collective goal for the organization. “During 2015-16, Nalco has increased dividend payment to shareholders from 35 per cent to 40 per cent. According to sources Nalco has added captive resources worth Rs 80,000 crore, including the Utkal D and E Coal blocks with 200 million tonnes of coal at Angul and Pottangi Bauxite Mines having a deposit of about 75.22 million tonnes. NALCO tap these resources in time, for the next five decades, it will have no resource crunch for our core functions. T K Chand brings along with him a background that consist his highly result orientation and a thorough experience of 33 years in the industry. He began his career in the RINL as a management trainee in 1983. Chand has played a stellar role in Nalco’s image makeover and investment plans, besides securing raw materials through acquisition of coal and bauxite mines. He has also taken up globalization of operations of companies like RINL and Nalco, making the presence of such Indian companies strong across the world. Moreover, through Industry-Institution interface initiatives, he is facilitating the institutions to get an international exposure and global foothold. Now NALCO eyes on initiating measures for globalisation of operations of this Navratna company, it also focuses on new business model to enable the strengthen the company’s business by leveraging its core competency in mining, metals and energy sectors, through modernisation, Greenfield and Brownfield expansions, upstream and downstream integration.

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