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In an interview to CNBC-TV18, TK Chand, CMD of NALCO spoke about aluminium prices and the latest happenings in the company.
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National Aluminium Company's (NALCO) Q2 earnings were steady and in-line with expectations. In an interview to CNBC-TV18, TK Chand, CMD of NALCO spoke about the results and his outlook for the company.
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Although the prices of aluminium have a softened a bit now, they are expected to hover in the range of USD 2050-2150 per tonne, said TK Chand, CMD, Nalco.
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In an interview to CNBC-TV18, TK Chand, CMD of National Aluminium Company (NALCO) spoke about the continuous spike in the price of alumina.
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The National Aluminium Company (NALCO) is on radar after aluminium prices hit multi-year highs while alumina prices too are on a roll. In an interview to CNBC-TV18, TK Chand, CMD of NALCO spoke about the price increase and latest happenings in the company.
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National Aluminum Company (NALCO) is the stock on our radar as global aluminium prices trade at multi-year highs as China is ramping up efforts to curtail illegal or polluting capacity. In an interview to CNBC-TV18, TK Chand, CMD of NALCO spoke about the latest happenings in his company and sector.
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Aluminium prices are up 20 percent year on year. In today’s Chinese gross domestic product (GDP) data, aluminium production numbers were up 7.4 percent in June which is believed to be a record. In an interview to CNBC-TV18, TK Chand, CMD at National Aluminium Company (NALCO) spoke about the same.
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“We are expecting very good margin from aluminium segment”, TK Chand, CMD of NALCO told CNBC-TV18.
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In an interview to CNBC-TV18, TK Chand, CMD of National Aluminium Company (NALCO) spoke about the results and his outlook for the company.
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Nalco has cash reserve of Rs 3,000-3,500 crore, which will be used for domestic capacity expansion, said TK Chand, CMD of Nalco.
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In an interview with CNBC-TV18, TK Chand, CMD of Nalco, talked about prevailing aluminium and alumina prices and the outlook ahead.
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TK Chand of Nalco said that company has taken cost-cutting measures and is focussing on higher production levels.
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In an interview to CNBC-TV18, NR Mohanty, CMD, Nalco said the company expects the total capacity of alumina production FY16 to be 21.8 lakh tonne.
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State-run aluminium maker Nalco reported a 170.5 percent rise in net profit to Rs 354.47 crore for the quarter ended December, on the back of higher income from operations.
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Ansuman Das of Nalco expects the aluminium prices to hold above USD 2400 per tonne. Moreover, he thinks with the new government‘s focus on infrastructure development there demand for aluminum in India could be high.
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According to Ansuman Das, the strong performance of NALCO in Q2 is sustainable in the second half of FY14 as the company holds a good stock of coal and the supply of coal is likely to improve further in Q3.
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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.
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NALCO managed to cut power cost by 15% in Q4FY13 and this boosted margins
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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.
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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.
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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.
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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.
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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.
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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.
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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.
