According to Ansuman Das, the company will continue to keep its production at the current levels and have no plans for any further production cut. Nalco got its coal supply secured till 2018 by Coal India and is confident of giving aluminium output of around 350,000 tonnes for FY14.
NALCO managed to cut power cost by 15% in Q4FY13 and this boosted margins
BL Bagra, chairman and director-finance at NALCO says, the coal availability has not been a problem for the last two quarters. For the last two months, he says, particularly July and August, the company is struggling with seasonal problems of rain.
State-owned National Aluminium Company has a "comfortable" coal inventory at an average of 18-19 days and should be able to manage the upcoming monsoon season, BL Bagra, CMD and Director (Finance) told CNBC-TV18.
In an interview to CNBC-TV18, BL Bagra, chairman and managing director, NALCO says, he expects the financial year to be better compared to the last year.
Nalco's second quarter results were well below the street’s estimates in terms of earnings. Chairman and director of finance BL Bagra indicated that the margins were hit because the supply from Mahanadi coal was disrupted. Nalco has been targeting 30,000-60,000 tonne of additional alumina sale in Q3.
In an interview to CNBC-TV18, BL Bagra, director finance at NALCO says the new Mines and Minerals (Development and Regulation) MMRD Act is unlikely to hurt much, since the business environment it is likely to create, he says in due course of time it will make the company’s business proposition better.
Hindustan Copper has put off its follow-on public offering for the time-being. Speaking to CNBC-TV18, CMD of the company, Shakeel Ahmed said that improved financials were the reason behind the delay.
BL Bagra, director finance of NALCO, in an interview with CNBC-TV18's Udayan Mukherjee and Sonia Shenoy, said the fourth quarter realisations are at the same level as the last year. He added that the company has commissioned 120 megawatt units as part of expansion project.