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Is Nalco hiding its faulty capital allocation behind hefty dividends?

Scratch the surface, market cap takes a hit of 29 percent in the past one year alone

September 25, 2019 / 10:15 AM IST
Is Nalco hiding its faulty capital allocation behind hefty dividends?

National Aluminium Company (Nalco) made this interesting statement to the exchanges recently, “Continuing its bull run, Nalco has once again brought cheer in the stock market by declaring record dividend payout of Rs 1,072.73 crore for 2018-19”. But it did not mention that in this supposed bull run, Nalco’s market capitalisation has seen an erosion of 5.9 percent in the last 10 years, 5 percent in the last five years and 29 percent in the past one year. (image) Its performance may have...

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