Madras Aluminium Co Limited
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BSE Code:
504580
NSE Code:
MALCO
Business Profile
Business Profile
Madras Aluminium Company (MALCO), part of the London-based Vedanta group, is primarily an aluminum producer with operations encompassing mining, refining, smelting and power generation. The company was incorporated in 1961 in collaboration with Montecantini, Italy.
The company has its strategic business units of the alumina plant, where alumina is extracted from the bauxite ore; aluminum plant, where aluminum is produced by the electrolysis of alumina; and a captive power plant, where electrical power is generated using coal as fuel. E.C. grade and alloy grade (LM series) ingots weighing 20 kg and 6 kg are manufactured as per IS specification. The integrated aluminum metal complex is located at Mettur in Tamil Nadu. The installed capacity of aluminum is being increased from 24,000 MTA to 65,000 MTA, alumina from 48,000 MTA to 150,000 MTA, anode paste from 13,800 MTA to 45,000 MTA. The coal-based captive power plant has a capacity of 75 MW which is being increased to 130 MW. The captive bauxite mines are located at Yercaud, Kolli and Palani in Tamil Nadu.
MALCO is ISO 8001 certified for quality management system, ISO 14001 for the environment management system and OHSAS 18001 for occupational heath and safety management system. Recent awards include the ICWAI National Award for Excellence in Cost Management - first prize in Private Sector Manufacturing Unit Category by the Institute of Cost and Works Accountants of India (ICWAI) on July 2, 2007; the Finalist Award of Excellence in Corporate Governance, instituted by the Institute of Directors & World Council for Corporate Governance; and the CII Award for Excellence in Water Management.
The registered office is located at Mettur Dam R.S, Salem District, Tamil Nadu.
Financials
Madras Aluminium Company registered a 4.45% growth in net profit to Rs 366.2 million for the quarter ended June 2007 from a profit of Rs 350.6 million for the quarter ended June 2006.
Net sales declined 14.59% to Rs 1,110.5 million for the quarter ended June 2007 from Rs 1,300.2 million for the quarter ended June 2006.
Total income dipped 8.89% to Rs 1,187.1 million from Rs 1,302.9 million for the quarter ended June 2006.
The earnings per share (EPS) of the company stood at Rs 16.28 for the quarter ended June 2007.
Recent Developments
05-JUN-07
The company has been awarded the ICWAI National Award for Excellence in Cost Management-First Prize in Private Sector-Manufacturing - Unit Category by the Institute of Cost and Works Accountants of India (ICWAI) on July 2, 2007.
27-APR-07
The equity shares of the company have been delisted from the Madras Stock Exchange w.e.f. April 10, 2007.
18-APR-07
The board of directors of the company at its meeting held on April 18, 2007 has approved the expansion project of the company at an outlay of Rs 1,750 million.