NATIONALUM

Feb 10 (Reuters) - India's National Aluminium Company (NALCO) NALU.NS reported third-quarter profit above analysts' estimates on Monday, buoyed by strong commodity prices.

The state-owned company's consolidated profit jumped over three-fold to 15.66 billion rupees ($179 million) in the October-December quarter, beating the estimate of 13.92 billion rupees, per data compiled by LSEG.

Global aluminium prices averaged at around $2,600 in the quarter, up 17% on-year, data from at least four brokerages showed. This was in line with benchmark CMAL3 prices on the London Metal Exchange.

Higher commodity prices tend to raise the selling price of metals, leading to improved profit margins.

The price hike also helped rival Vedanta VDAN.NS beat core profit estimates for the third quarter.

NALCO did not disclose its quarterly EBITDA (earnings before interest, taxes, depreciation and amortization); however, according to Rajesh Majumdar, an analyst at B&K Securities India, the company reported an EBITDA of 23.3 billion rupees on "significantly higher alumina realisations" in the quarter.

Analysts, on average, had expected an EBITDA of 19.96 billion rupees.

Bigger rival Hindalco HALC.NS is set to report third-quarter results later this week.

($1 = 87.4750 Indian rupees)

(Reporting by Manvi Pant and Anuran Sadhu in Bengaluru; Editing by Vijay Kishore)

(([email protected]; +918447554364;))

Jan 8 (Reuters) - National Aluminium Co Ltd NALU.NS:

• BRIJENDRA PRATAP SINGH JOINS AS CHAIRMAN-CUM-MANAGING DIRECTOR

Source text: ID:nBSE2vqnnx

Further company coverage: NALU.NS

(([email protected];))

Dec 24 (Reuters) - National Aluminium Co Ltd NALU.NS:

• NATIONAL ALUMINIUM CO LTD - NALCO SIGNS MINING LEASE DEED FOR UTKAL-D AND UTKAL-E COAL BLOCK

• NATIONAL ALUMINIUM CO LTD - NALCO COAL PRODUCTION CAPACITY TO INCREASE TO 4.0 MTPA

Source text: ID:nNSEDlbgL

Further company coverage: NALU.NS

(([email protected];))

Nov 13 (Reuters) - National Aluminium Co Ltd NALU.NS:

• SEPT-QUARTER CONSOL PROFIT 10.46 BILLION RUPEES

• SEPT-QUARTER REVENUE FROM OPERATIONS 40.01 BILLION RUPEES

Source text: [ID:]

Further company coverage: NALU.NS

(([email protected];))

Nov 1 (Reuters) - National Aluminium Co Ltd NALU.NS:

• NALCO - SRIDHRA PATRA CEASES TO BE CHAIRMAN

Further company coverage: NALU.NS

(([email protected];))

** Shares of National Aluminium Co NALU.NS rise 6.4% to 223.5 rupees

** Stock top pct gainer in Nifty metal index .NIFTYMET, which is flat

** Kotak Institutional Equities double upgrades NALU to "add" from "sell", hikes target price to 235 rupees from 160 rupees

** New TP is second highest among nine analysts tracking NALU

** NACL best placed to benefit from ongoing alumina supply tightness, given co's net long position and consequent tailwind in aluminium prices - Kotak

** Says ramp up in captive coal mines commissioning should keep costs on downtrend

** Mean rating of nine analysts is equivalent to "hold"; median price target is 185 rupees - LSEG data

** NALU up 69% YTD vs 28% rise in metal index .NIFTYMET

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

Aug 28 (Reuters) - National Aluminium Co Ltd NALU.NS:

• NALCO - MOU SIGNED BETWEEN KABIL AND OIL INDIA FOR COLLABORATION IN PROJECTS & EXPLORATION

Further company coverage: NALU.NS

(([email protected];))

Aug 12 (Reuters) - National Aluminium Co Ltd NALU.NS:

• Q1 CONSOL PROFIT 5.88 BILLION RUPEES

• Q1 CONSOL REVENUE FROM OPERATIONS 28.56 BILLION RUPEES

• FINAL DIV 2 RUPEES/SHR

Source text for Eikon: [ID:]

Further company coverage: NALU.NS

(([email protected];))

June 13 (Reuters) - National Aluminium Co Ltd NALU.NS:

• EXECUTED A MINING LEASE DEED WITH STATE GOVERNMENT OF ODISHA

• MINING LEASE DEED OVER AN AREA OF 697.979 HECTARES FOR BAUXITE MINES IN POTTANGI TEHSIL, KORAPUT DISTRICT

• BAUXITE MINES HAVE ANNUAL PRODUCTION CAPACITY OF 3.5 MILLION TONNES AND RESERVES ESTIMATED AT 111 MILLION TONNES

• MINE IS EXPECTED TO BECOME OPERATIONAL SOON

Source text for Eikon: ID:nNSE2sCdf0

Further company coverage: NALU.NS

(([email protected];))

May 27 (Reuters) - National Aluminium Co Ltd NALU.NS:

• MARCH PROFIT 10.16 BILLION RUPEES

• NATIONAL ALUMINIUM CO MARCH REVENUE FROM OPERATIONS 35.79 BILLION RUPEES

• YR AGO MARCH PROFIT 5.22 BLN RUPEES, REV 36.71 BLN RUPEES

Further company coverage: NALU.NS

(([email protected];))

April 24 (Reuters) - National Aluminium Co Ltd NALU.NS:

• KABIL INKS MOU WITH CSIR-NGRI FOR ADVANCING GEOPHYSICAL INVESTIGATIONS IN CRITICAL, STRATEGIC MINERALS SECTOR

Further company coverage: NALU.NS

(([email protected];))

April 10 (Reuters) - National Aluminium Co Ltd NALU.NS:

• NATIONAL ALUMINIUM CO LTD - KABIL AND CSIR-IMMT SIGNS MOU FOR TECHNICAL & KNOWLEDGE COOPERATION FOR CRITICAL MINERALS

Source text for Eikon: ID:nBSE3smnmG

Further company coverage: NALU.NS

(([email protected];))

April 2 (Reuters) - National Aluminium Co Ltd NALU.NS:

• NATIONAL ALUMINIUM CO LTD - METAL PRODUCTION OF 4,63,428 METRIC TONNES IN FY 23-24

• NATIONAL ALUMINIUM CO LTD - METAL SALE OF 4,70,108 METRIC TONNES IN FY 23-24

• NATIONAL ALUMINIUM CO LTD - BAUXITE EXCAVATION OF 76,00,230 METRIC TONNES IN FY 23-24

Source text for Eikon: ID:nNSE5Pwv6P

Further company coverage: NALU.NS

(([email protected];))

By Neha Arora

NEW DELHI, March 28 (Reuters) - India will send two delegations next month to Chile to scout for lithium and copper resources, a government source said, as rapid economic expansion and New Delhi's efforts to speed up the energy transition stoke demand for critical minerals.

Chile is a key target as it is the world's biggest supplier of copper and the second-biggest producer of lithium, which are essential for electric vehicle batteries and renewable energy systems in the push away from fossil fuels.

As part of India's drive to explore overseas for mineral assets, state firms National Aluminium Company, Hindustan Copper and unlisted Mineral Exploration and Consultancy have set up a company called Khanij Bidesh India (KABIL).

"KABIL has to send a delegation to Chile in April," said the source, who did not wish to be named as details of the plan have not been made public.

"We are interested in buying assets. We are trying to facilitate private and government-owned companies to acquire assets in other countries as well."

The government is separately sending a delegation to look for copper assets, the source said.

The federal Ministry of Mines and KABIL did not respond to Reuters emails for comments.

India, the world's third-biggest emitter of greenhouse gases behind China and the United States, has pledged to achieve a net-zero carbon emission target by 2070 and increase the share of renewables in its energy mix to 50% by 2030.

In January, KABIL signed a 2-billion-rupee ($24.01 million) lithium exploration pact for five blocks in Argentina. The deal, signed with an Argentinian state-run enterprise, gives KABIL exploration and development rights for commercial production.

KABIL, which is currently setting up an office in Argentina, is also in talks with another company in the Latin American country for lithium exploration, the source said.

At the same time, KABIL is talking to the Australian government to help appoint a consultant to restart due diligence that would pave the way for a lithium block acquisition in the country, the source said.

India is also looking at Africa for copper, cobalt and other critical minerals, V.L. Kantha Rao, the most senior official at the Ministry of Mines, said last week.

India is in the process of auctioning 38 critical and strategic minerals blocks, including lithium.

($1 = 83.30 rupees)

(Reporting by Neha Arora; editing by Mayank Bhardwaj and Sonali Paul)

(([email protected];))

Feb 13 (Reuters) - National Aluminium Co Ltd NALU.NS:

• CORPORATE ACTION-BOARD APPROVES DIVIDEND

• INTERIM DIVIDEND OF 2 RUPEES PER SHARE

Source text for Eikon: ID:nBSE1n4mQ8

Further company coverage: NALU.NS

(([email protected];;))

BENGALURU, Jan 15 (Reuters) - India's state-owned firm Khanij Bidesh India Ltd (KABIL) signed a lithium exploration pact for five blocks in Argentina, the federal Ministry of Mines said on Monday.

(Reporting by Varun Vyas and Neha Arora)

(([email protected];))

BENGALURU, Nov 9 (Reuters) - India's National Aluminium Company (NALCO)NALU.NS on Thursday reported an almost 50% rise in second-quarter profit as sustained government spending on infrastructure boosted demand for the metal produced by the state-run manufacturer.

Consolidated profit for the quarter ended Sept. 30 rose to 1.87 billion rupees ($22.45 million) from 1.25 billion rupees a year ago, the company said in an exchange filing.

India, the world's second biggest aluminium producer, has amped up infrastructure spending ahead of general elections next year, helping companies like NALCO and rival Hindalco Industries HALC.NS.

NALCO recorded a near-14% jump in pre-tax profit in mainstay aluminium segment, which accounted for around 80% of the total pre-tax profit.

The chemicals segment which makes chemicals like calcined alumina, used in refractory and ceramics industry also posted a 27.7% rise in pre-tax profit to 1.12 billion rupees.

Revenue from operations fell 12.8% to 30.43 billion rupees amid a 2% rise in raw material costs.

Hindalco will report September-quarter results on Friday.

($1 = 83.2800 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Nivedita Bhattacharjee)

(([email protected]; +918447554364;))

By Polina Devitt, Rajendra Jadhav and Siyi Liu

LONDON, Sept 14 (Reuters) - Russia has stepped up imports of the aluminium feedstock alumina from India in recent months to supply its vast Siberian plants, a move that diversifies the sanctions-hit country's supply, helps reduce dependence on China and cuts costs.

After invading Ukraine, the world's second biggest producer of aluminium lost two crucial sources of alumina, used to make aluminium metal, as a refinery in Ukraine suspended production and Australia banned supplies to Russia.

While Russia and China are on friendly terms, aluminium production in China is rising, leaving less price flexibility for Russia to buy alumina.

Russia's Rusal 0486.HK, the world's largest aluminium producer outside China, needs to fill the gap left by suspended supplies to sustain domestic production while aiming to protect its margins against a weaker aluminium price backdrop.

The company's own alumina assets in Russia, Ireland, Jamaica and Guinea supply 70% of its needs, or 5.5 million metric tons.

"After deliveries from Ukraine and Australia were lost, Rusal replaced it with increased alumina imports from China and other refineries in Asia, but it came at a considerable cost," Ami Shivkar at WoodMac said.

Russia became the largest buyer of alumina from China last year. Rusal's cost of purchasing alumina jumped by $1.1 billion to $1.8 billion in 2022 as it had to pay more for the raw material and for delivery.

Rusal has since diversified by securing alumina supplies from India and Kazakhstan.

"We can already say that the company's total alumina costs will decrease in 2023 compared to 2022," Rusal told Reuters.

Russia was the second largest buyer of Indian alumina in the first half of this year, Indian customs data show, with India exporting 189,379 metric tons to Russia. There were no exports in the same period of 2022.

"Russia encountered difficulties in securing alumina from developed nations and forced it to switch to India," an Indian industry official, who declined to be named, told Reuters.

India's state-run National Aluminium Co NALCO.NS is the primary supplier of alumina to Russia, the official said.

Nalco did not respond Reuters' request for comment.

Russia is expected to buy more than 350,000 tonnes of alumina from India in 2023, the official said. The estimate is broadly in line with Rusal's own calculations, it told Reuters.

China remains the largest third-party supplier of alumina to Russia with shipments of 485,160 tons in January-June, but it has less alumina to offer this year due to rising domestic aluminium production.

Aluminium of Kazakhstan, which produces 1.3 million tons of alumina a year, plans to reduce supplies to Russia by 5% in 2023 as it also needs more product for itself, its owner Eurasian Resources Group told Reuters.

The company did not say how much alumina it sends to Russia, however CRU consultancy estimates Kazakh deliveries to Russia at around 40,000-70,000 tons per month.

Rusal needs to buy about 2.5 million tons of alumina a year from outside its own system.

Its Aughinish refinery in Ireland which produces 1.6 million tonnes a year, sends only 40% of its production to Russia. The remainder goes to Europe.

Jamaica supplied 190,070 tons of alumina to Russia in the first half of 2023, the Jamaica Bauxite Institute told Reuters.

Russian alumina purchases have been too small to affect the global market, estimated at 60 million tonnes outside China and dominated by Australia.

However, the need to import alumina means Rusal will rely on the price and the supply-demand balance of the global alumina market for at least five years.

"Despite the fact that we were able to restructure our raw material supply chains in time, we still feel significant dependence on imported alumina," Rusal said.

"To mitigate the risks ..., we have decided to consider a project to build a plant in Russia."

Rusal said in June it would build a $4.8 billion plant to make alumina in a Russian Baltic Sea port. The first phase of production with annual capacity of up to 2.4 million tons will be commissioned by the end of 2028.

(Reporting by Polina Devitt in London, Rajendra Jadhav in Mumbai and Siyi Liu in Beijing; additional reporting by Mariya Gordeyeva in Almaty and Fransiska Nangoy in Jakarta;
Editing by Pratima Desai and David Evans)

(([email protected]; Reuters Messaging: [email protected]))

Aug 11 (Reuters) - National Aluminium Co Ltd NALU.NS:

• NATIONAL ALUMINIUM CO.LTD. - 532234 - BOARD MEETING OUTCOME FOR UNAUDITED FINANCIAL RESULTS (STANDALONE & CONSOLIDATED) FOR THE QUARTER ENDED 30.06.2023 AND RECOMMENDATION OF FINAL DIVIDEND FOR THE FINANCIAL YEAR 2022-23.

• INDIA'S NATIONAL ALUMINIUM COMPANY JUNE-QUARTER CONSOL PROFIT 3.34 BILLION RUPEES VERSUS 5.58 BILLION RUPEES

• INDIA'S NATIONAL ALUMINIUM COMPANY JUNE-QUARTER CONSOL PROFIT 3.34 BILLION RUPEES VERSUS 5.58 BILLION RUPEES

• NATIONAL ALUMINIUM COMPANY JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 31.78 BILLION RUPEES VERSUS 37.95 BILLION RUPEES

• NATIONAL ALUMINIUM CO LTD- FINAL DIVIDEND 1 RUPEEPER SHARE

Source text for Eikon: ID:nBSE13JTNT

Further company coverage: NALU.NS

(([email protected];))

July 17 (Reuters) - Coal India Ltd COAL.NS, a government-owned port and a state waterways body, are together considering investing up to 120 billion rupees ($1.46 billion) to set up an industrial water transport corridor in the country's east, two government sources said.

State-backed Coal India, Paradip Port Authority and the Inland Waterways Authority of India recently drew up a plan for a corridor that could potentially carry 12 to 15 million tonnes of cargo by 2030, they said.

(Reporting by Sarita Chaganti Singh; editing by Mayank Bhardwaj and Conor Humphries)

(([email protected]; +353 1 236 1915;))

June 6 (Reuters) - Engineers India Ltd ENGI.NS:

• NATIONAL ALUMINIUM CO SELECTS CO FOR PROVIDING CONSULTANCY SERVICES FOR UPDATION OF DETAILED PROJECT REPORT

• DETAILED PROJECT REPORT FOR POTTANGI BAUXITE MINES FOR ENHANCING RAW-ORE PRODUCTION

• JINDAL STEEL AND POWER, CO SIGNED CONTRACT FOR SUPPLY OF BASIC ENGINEERING AND DETAIL ENGINEERING

• CONTRACT WITH JSPL FOR 155 MILLION RUPEES

• CONTRACT VALUE WITH NALCO FOR 50.5 MILLION RUPEES

Source text for Eikon: ID:nBSEbXvbfX

Further company coverage: ENGI.NS

(([email protected];))