National Aluminium Company (NATIONALUM) Q4 23/24 earnings summary

Executive summary

• Achieved record production in bauxite (7.53 million MT), alumina hydrate (2.12 million MT), and aluminium (463,428 MT) in FY 2023-24, with all-time high metal sales of 470,108 MT, up 1.3% year-over-year.

• Gross sales reached ₹13,070 crore, with profit after tax at ₹2,060 crore and EPS of ₹11.22, reflecting strong operational and financial performance.

• Dividend payout for FY 2023-24 was ₹734.65 crore, representing 35.66% of PAT.

Financial highlights

• Revenue from operations: ₹13,149 crore (down 8% year-over-year).

• Profit before tax: ₹2,784 crore (up 42% year-over-year).

• Profit after tax: ₹2,060 crore (up 33% year-over-year).

• EBITDA margin improved due to lower input costs and reversal of additional royalty provision.

• Book value per share: ₹79.34.

• Net worth: ₹14,572 crore.

Outlook and guidance

• Global alumina and aluminium markets expected to remain in slight surplus in 2024, with projected price increases due to supply disruptions and geopolitical factors.

• Domestic aluminium demand projected to grow at 9% annually, driven by infrastructure, urbanization, and renewable energy sectors.

• Commissioning of 5th stream alumina refinery expansion expected by September 2025, increasing refining capacity to 3.1 million MT.