Public sector aluminium producer National Aluminium Company (Nalco) said it is looking at a net profit in upwards of Rs 2000 crore in FY 2020, banking on its new business model.
“With the business model in place, the company doubled its net profit from Rs 669 crore in FY 2016-17 to Rs 1342 crore in FY 2017-18. Now, the company is all set to scale higher on financial front and envisages achieving a net profit of more than Rs 2000 crore by 2020 and Rs 2500 crore in the next three years. Besides, to retain business excellence, the company has consistently been working on with focus on sustainability through innovation, adoption of new technology, lower production cost and nurturing its human resources”, said Nalco's chairman and managing director (CMD) T K Chand.
He said, Nalco had formulated the new business model when the global economy was bruised by slowdown and metal focused companies
took a pounding. The business model lays thrust on benchmarking and quantification.
The Nalco CMD inaugurated the two-day fifth national management conference themed on 'Weatherproof Organization: Challenging the Challenge' hosted here by the Asian School of Business Management (ASBM).
“Achievements give motivation and purpose gives objectivity to any organization but to remain sustainable and successful, business organizations need to have insulation from detrimental effects of business environment. One must remain well aware in advance of the changes in technology, statutory regulations and preferences of the customers”, he added.