National Aluminium Company

What National Aluminium Company does

National Aluminium Company Limited (NALCO) is a Government of India Navratna Central Public Sector Enterprise under the Ministry of Mines, founded in 1981 and headquartered in Bhubaneswar, Odisha. It operates one of Asia's largest integrated bauxite-alumina-aluminium-power complexes, spanning the full value chain from 68.25 lakh TPA bauxite mining at Panchpatmali (Koraput), 21 lakh TPA alumina refining at Damanjodi (expanding to 31 lakh TPA via the 5th stream addition in Q1 FY27), 4.60 lakh TPA aluminium smelting at Angul using 180 KA cell technology, and a 1200 MW captive thermal power plant supplemented by 198 MW of wind and 850 kWp solar capacity. The company also operates 50,000 TPA of downstream rolled products using FATA Hunter (Italy) continuous casting technology, captive Utkal D&E coal mines (170.877 MT extractable reserves, 40 LT produced in FY26), and a dedicated mechanised port at Visakhapatnam with 75,000 MT alumina silos.

NALCO's product portfolio spans calcined alumina and alumina hydrate, primary aluminium in P1020A LME-registered form (ingots, T-ingots, sows, billets, wire rods), cold-rolled sheets and coils (alloys AA1050 through AA8011), and specialty chemicals including Zeolite-A (for detergents, using indigenous CSMCRI technology) and specialty aluminas/hydrates for plastics, rubber, refractories, and ceramics. New specialty grades (AA8011 cookware sheets, AA6062/AA6051 alloy billets, AA1200, foil stock) were commercialised in April 2026 to target defence, aerospace, cookware, and packaging segments.

Revenue is generated through (i) annual MOU schemes for domestic aluminium, rolled products, and chemicals with MSME discounts, (ii) export tenders (FOB/CIF) for calcined alumina (10-12 LTPA) and primary aluminium to buyers in Southeast Asia, Gulf, China, and USA, (iii) captive coal-fired power generation, and (iv) joint venture income from caustic soda (GNAL JV with GACL, Dahej), defence alloys (MIDHANI JV), critical minerals (KABIL JV with HCL and MECL in Argentina), and the Angul Aluminium Park (IDCO JV). The Government of India holds 51.28% equity; the remaining shares trade on BSE (532234) and NSE (NATIONALUM). NALCO is the world's lowest cost producer of bauxite and alumina, has posted continuous profits for 39 consecutive years, and is the 2nd highest net foreign exchange earning CPSE in India, with FY2025-26 revenue of ₹17,843 crore and PAT of ₹5,816 crore.

Name

National Aluminium Company

Legal name

National Aluminium Company Limited

Website

https://nalcoindia.com

Company type

Public

Founded year

1981

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

National Aluminium Company (NALCO) is a Government of India Navratna CPSE operating one of Asia's largest integrated bauxite-alumina-aluminium-power complexes, supplying primary aluminium, alumina, rolled products, and specialty chemicals to industrial buyers domestically and across Southeast Asia, Gulf, China, and USA.

Ownership category

akta.pro rank

Product category

Primary Aluminium and Alumina Manufacturing

NAICS

Alumina Refining and Primary Aluminum Production (331313), Alumina and Aluminum Production and Processing (33131), Aluminum Sheet, Plate, and Foil Manufacturing (331315), Other Aluminum Rolling, Drawing, and Extruding (331318)

SIC

Primary Production Of Aluminum (3334), Primary Smelting & Refining Of Nonferrous Metals (3330), Wholesale-Metals & Minerals (No Petroleum) (5050)

akta.pro primary industry

Primary Aluminum Smelting (IMAKACAC)

akta.pro secondary industries

Alumina Refining (Bayer Process) (IMAKACAB), Aluminum Fabrication & Finishing (Machining, Anodizing, Coating) (IMAKACAI), Aluminum Value-Added Components (Automotive, Aerospace, Packaging, Building Systems) (IMAKACAM), Aluminum Trading, Marketing & Distribution (IMAKACAK)

Keywords

• Aluminium production
• Bauxite mining
• Alumina refining
• Rolled aluminium products
• Specialty alumina chemicals

Headquarters

HQ city

Bhubaneswar

HQ country

India

HQ region

Asia

Offices13 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Aluminium Metal Sales: Primary aluminium produced at the 4.60 lakh TPA smelter is sold in domestic market through regional offices and stockyards, and exported as LME-registered P1020A grade ingots, T-ingots, sows, and billets. Products also include wire rods, cast strips, and alloy ingots. Exports are conducted via CIF basis and through tender registration process with overseas customers.
2. Alumina Sales (Domestic and Export): Surplus alumina from the 21 lakh TPA refinery is sold domestically and exported. Approximately 10-12 lakh tonnes exported annually through dedicated Visakhapatnam port facilities on FOB ST basis. Global spot alumina prices cited at USD 305-310 per tonne. Domestic sales conducted through MOU scheme.
3. Aluminium Rolled Products: Rolled products including cold rolled sheets, coils, and chequered sheets produced at the 50,000 TPA Rolled Products Unit are sold in domestic market and exported. Also includes specialty aluminas and hydrates, and Zeolite-A for detergent industry.
4. Coal Production: Coal produced from captive Utkal D&E coal mines (40 LT in FY26) supplies feedstock to the captive power plant, reducing operating costs. Commercial coal sales also contribute to revenue.
5. Power Generation: 1200 MW captive thermal power plant supplies entire power requirement for aluminium smelter and approximately 35 MW to alumina refinery. Net power generation of 6,953 MU in FY26. Additional 198 MW wind power plants and 850+ kWp rooftop solar contribute to green energy.
6. Caustic Soda (JV - GNAL): JV with GACL produces caustic soda at Dahej, Gujarat; dispatch to NALCO started since August 2022, supporting backward integration for alumina refining.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

National Aluminium Company (NALCO) is an integrated producer mining bauxite (68.25 lakh TPA at Panchpatmali), refining it into alumina (21 lakh TPA at Damanjodi), smelting it into primary aluminium (4.60 lakh TPA at Angul), and rolling it into downstream products (50,000 TPA). It sells LME-registered primary aluminium in ingots, T-ingots, sows, billets, wire rods, and rolled products, alongside calcined alumina, alumina hydrate, Zeolite-A, specialty hydrates and aluminas, primarily to industrial manufacturers in India and overseas. Captive power (1200 MW thermal, 198 MW wind, 850 kWp solar) and a JV caustic soda plant support the integrated value chain.

Product overview

National Aluminium Company (NALCO) operates as an integrated aluminium producer with operations spanning the entire value chain from bauxite mining to finished aluminium products. The company operates through five main segments: Mining (68.25 lakh TPA Panchpatmali Bauxite Mines), Alumina Refining (21 lakh TPA at Damanjodi), Aluminium Smelting (4.60 lakh TPA at Angul), Power Generation (1200 MW captive thermal plus 198 MW wind and 850 kWp solar), and Coal Mining (Utkal D&E blocks). The product portfolio includes calcined alumina and alumina hydrate (chemical segment), primary aluminium in various forms (ingots, T-ingots, sows, billets, wire rods), and downstream aluminium rolled products (sheets, coils, chequered sheets). NALCO also produces specialty chemicals including zeolite-A for detergents and specialty hydrates/aluminas for industrial applications. The company maintains joint ventures for caustic soda supply (GNAL), defence alloys (MIDHANI JV), and critical minerals acquisition overseas (KABIL).

Differentiator

Problem solved

Functional benefit

Products and services

• Calcined Alumina Metallurgical grade calcined alumina (sandy type) produced at the Damanjodi refinery with annual capacity of 22.75 lakh tonnes; exported in bulk shipments of 25-35,000 MT and sold domestically through MOU scheme for downstream smelting and chemical applications.
• Alumina Hydrate Alumina hydrate (AH10) intermediate product with chemical formula Al2O3.3H2O, used in water treatment, plastics, rubber, paper, and as precursor for other alumina products. Produced in large volumes and sold domestically and for export.
• Primary Aluminium Ingots LME-registered primary aluminium ingots conforming to P1020A LME specifications, produced at the 4.60 lakh TPA smelter at Angul. Sold domestically under MOU scheme and exported globally through tender-based contracts.
• Primary Aluminium T-Ingots T-shaped aluminium ingots conforming to P1020A LME specifications, exported internationally alongside standard ingots for smelter and fabrication customers.
• Primary Aluminium Sows Large aluminium sow ingots conforming to P1020A LME specifications, primarily for export markets and downstream remelting.
• Aluminium Alloy Billets Aluminium alloy billets in various grades (including AA6062 and AA6051) produced at the smelter for extrusion, defence, and aerospace applications.
• Aluminium Wire Rods Wire rods produced through 4x45 tonne furnaces and 2x9.5 TPH wire rod mills for electrical and construction applications.
• Aluminium Rolled Products Cold rolled sheets, coils, and chequered sheets produced at the 50,000 TPA Rolled Products Unit using FATA Hunter technology from Italy. Available in alloys AA1050, AA1100, AA1200, AA3003, AA3105, AA5005, AA5052, AA8011 for construction, packaging, and fabrication applications.
• Zeolite-A Synthetic detergent-grade zeolite (sodium alumino silicate) produced at Damanjodi using indigenous CSMCRI technology. Used as a builder in synthetic detergents to replace phosphates and prevent fabric greying.
• Specialty Hydrates (ATH) Specialty alumina trihydrate (ATH) products in grades NSPH-5, NSPH-10, NSPH-20, NSPH-25, NSPH-30 used as filler materials in plastics, rubber, paper, PVC, and paints.
• Specialty Aluminas Non-metallurgical grade aluminas including unground, super ground, and reactive varieties used in refractory, ceramics, fused alumina, abrasives, tiles, glass, glazes, catalysts, and spark plugs.
• AA8011 Cookware Sheets and Aluminium Foil Stock Specialty AA8011 cookware sheets and aluminium foil stock produced for cookware, packaging, and household foil applications. Launched as part of NALCO's specialty product expansion in 2026.
• AA1200 Alloy Ingots AA1200 grade aluminium alloy ingots for packaging and industrial applications, part of NALCO's 2026 specialty product expansion.

Quantifiable outcome

• World's lowest cost producer of Bauxite and Alumina
• +5 more outcomes

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature7 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• RITES LimitedminorImplementation/ SI/ Consulting Partner · 1 January 2026RITES provides detailed engineering and project management consultancy services for construction of railway siding at Sankerjang for Utkal-D coal mines of NALCO. Contract value enhanced to ₹118.89 crore from original ₹79.73 crore.
• KABIL - NALCO (CPSU Partner)coreStrategic or Co-development Partner · 1 January 2026KABIL, a joint venture of NALCO, HCL, and MECL, acquired 5 critical mineral blocks in Argentina with operations underway, addressing India's ~93% import dependence on critical minerals.
• Numaligarh Refinery Limited (NRL)minorStrategic or Co-development Partner · 1 January 2021Long-term MoU signed to ensure supply security of CP Coke, a critical raw material for aluminium production.
• Khanij Bidesh India Limited (KABIL)coreStrategic or Co-development Partner · 1 January 2019Joint venture between NALCO (with HCL and MECL) formed to acquire strategic mineral assets in overseas locations and make supply to India. KABIL has signed exploration agreements with CAMYEN (Argentina) for lithium blocks in Argentina. Also pursuing critical mineral blocks in Argentina. NALCO CMD Brijendra Pratap Singh serves on KABIL's Board.
• Utkarsha Aluminium Dhatu Nigam Limited (UADNL)minorStrategic or Co-development Partner · 1 January 2019Joint venture with MIDHANI (Mishra Dhatu Nigam Limited) to manufacture high-end aluminium alloys for defence and aerospace sectors. Formed to meet specific requirements of India's defence industry.
• GNAL (Gujarat NALCO Alkalies Limited)coreStrategic or Co-development Partner · 1 January 2015JV with Gujarat Alkalies & Chemicals Limited (GACL) for establishment of caustic soda plant and captive power plant at Dahej-II, Bharuch, Gujarat. Production started May 2022; caustic soda dispatch to NALCO commenced August 2022. Supports backward integration for alumina refining operations.
• Angul Aluminium Park Private Limited (AAPPL)minorStrategic or Co-development Partner · 1 January 2010JV with Odisha Industrial Infrastructure Development Corporation (IDCO) to promote downstream aluminium industry through an aluminium park at Angul, Odisha.

Scale indicators28 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Hindalco Industries (Aditya Birla Group): India's largest integrated aluminium and copper producer. Operates bauxite mines, alumina refineries, aluminium smelters, and downstream rolled products — directly comparable to NALCO across the value chain, with broader downstream presence including Novelis.
• Vedanta Aluminium: India's largest primary aluminium producer (Lanjigarh alumina refinery, Jharsuguda smelter, BALCO). Directly comparable to NALCO as an integrated bauxite-to-aluminium producer with significant export focus, although privately held under Vedanta group.
• Bharat Aluminium Company (BALCO): Vedanta subsidiary operating integrated aluminium operations in Korba, Chhattisgarh. Comparable to NALCO as a primary aluminium producer with captive power, though smaller and more focused on domestic downstream markets.

Broad incumbents

• South32: Australian-listed diversified miner with significant aluminium operations (alumina and primary aluminium) through its Brazil and South Africa assets. Comparable to NALCO in alumina production scale and commodity exposure.
• Aluminum Corporation of China (Chalco): China's largest state-owned integrated aluminium producer. Comparable to NALCO in vertical integration model and government backing, with much larger scale across bauxite, alumina, primary aluminium, and downstream products. Sets global alumina pricing reference.
• China Hongqiao Group: World's largest aluminium producer by capacity, integrated across bauxite-alumina-aluminium with captive power generation in Shandong, China. Highly comparable business model to NALCO with cost leadership in primary aluminium.
• Alcoa Corporation: Global integrated aluminium leader with bauxite mining, alumina refining, and aluminium smelting across multiple continents. Comparable to NALCO's integrated value chain, with a much larger global footprint and active focus on low-carbon aluminium.
• United Company RUSAL: World's largest primary aluminium producer outside China. Comparable to NALCO in low-cost smelting and alumina production, with significant bauxite assets and global export reach, though operating at much larger scale.

Emerging players

• Jindal Aluminium Limited: India's largest aluminium extrusion manufacturer with extensive downstream product portfolio. Comparable to NALCO's rolled products division but focused entirely on value-added extrusions and fabricated products rather than primary metal production.
• Century Aluminum Company: US-based primary aluminium producer with smelters in the US and Iceland, focused on low-carbon and high-purity aluminium. Comparable to NALCO's primary aluminium segment though without upstream bauxite/alumina integration.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/NALCO_India
• YouTubeyoutube.com/c/NationalAluminiumCompanyLimitedNALCO
• Facebookfacebook.com/nalcoindia
• LinkedInlinkedin.com/company/nalcoindia
• Instagraminstagram.com/nalco_india

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National Aluminium Company