BALCO is a leading aluminium producer and plays an active role in developing the Indian economy and the aluminium industry. Introduced as India's first public sector undertaking (PSU) in 1965, BALCO now is an essential participant in offering aluminium as a viable replacement to other metals, such as steel in construction and copper in the power transmission business.
Through decades of collaboration, commitment, and planning, BALCO has maintained its service and has become the world's leading manufacturer and supplier of high-quality aluminium. At BALCO, we are united by a fundamental principle of Trust, where our stakeholders and local communities can work together to create a more sustainable future. We believe in sharing and caring for our employees and have served all of our stakeholders and our community through our corporate ethics, sustainability policies, and strong balance sheet.
To be a world class integrated aluminium and power producer, generating sustainable value
for all stakeholders.
Bharat Aluminium Company Limited (BALCO) remains the first integrated Indian aluminium manufacturer, established in 1965, engaged in mining, smelting, fabricating and selling aluminium products, primarily in India and internationally.
We worked at the operational efficiency of 95%, which is about 0.4% greater than the previous year. In addition to that, we accomplished many of our targets, set new benchmarks and completed the year by making a profit of INR 2,736 crore and cash and cash equivalent (including investment) of INR 742 crore.
Beneficiaries reached through COVID relief activities
Sanitization Kits
distributed
masks were stitched by 122 women of SHG groups who earned INR. 3.5 lacs.
I am delighted to present our Company's results for the fiscal year 2021-22. The year proved to be difficult for BALCO, but we survived it with optimism and enthusiasm. We all experienced a worldwide health crisis throughout the year and saw devastating effects on the global economy.
The danger of a pandemic halted economies, disrupted trade policies, and disrupted geopolitical activities, all of which impacted the global aluminium industry's market flow and price policy. Despite the obstacles, we, at Balco remained focused on our commitment and strived to deliver our strategic targets in order to develop a more robust firm.
Read MoreA total of 20 e-learning modules active and cross functional training sessions across group
More than 50 internal and over 15 external learning sessions conducted
Training session on gender sensitisation
Training session on New Me, We Care (health and hygiene) for diversity employees
Self-defence training session by Fitcom
Finance, ESG, marketing, commercial, legal, quality, CC, PR, CSR, rolled product and management functional act up
Identified 8 business and 14 technical STARS
Role elevation and recognition given to 186 identified leaders across various talent development initiative
Chairman
Mr. Sushil Kumar Roongta, has been on the Board of the Company since 31st January 2012 and as Chairman of the Company since 17th Oct 2014. He has done his BE (Electrical) from BITS Pilani and is a gold medalist in PGDBM (International Trade) from IIFT, New Delhi. He is also a fellow member of All India Management Association. Mr Roongta holds important positions in various apex chambers. Mr. Roongta is a Member of National Executive Committee of FICCI and National Council of ASSOCHAM and a Jury Member for various prestigious awards including Lakshmipat Singhania – IIM Lucknow Leadership Awards, BML Munjal Awards for excellence in learning and development, ICWAI National Awards for Excellence in Cost Management, AIMA Awards etc.
He is the recipient of a number of awards including SCOPE gold awards for Excellence & Outstanding Contribution to the Public Sector Management – Individual Category from 2007 to 2008. He is also a member of Corporate Social Responsibility and Nomination & Remuneration Committee of Board.
Chief Executive Officer and Whole time Director
Mr. Abhijit Pati joined as Whole Time Director and CEO of Bharat Aluminium Company Limited on 19th July, 2019. He is member of CSR Committee and Finance Standing Committee of Bharat Aluminium Company Limited. Mr. Abhijit Pati started his career with Indian Aluminium Company (subsidiary of ALCAN in Indian Aluminium Company) in the year 1989. After working with Hindalco for years with numerous laurels, he joined Vedanta in 2008, as the COO of one of the largest Greenfield Aluminium cum Power complexes of the world at Jharsuguda, Odisha. Mr. Pati was elevated to the position of the President and CEO, Aluminum & Power Business of Vedanta Limited (Jharsuguda) from March’12.
Mr. Abhijit Pati holds MBA degree from International Management Institute (IMI), New Delhi (Gold Medalist) and B Tech (Chemical Engineering) from Institute of Science & Technology, Calcutta University.
Director
Mr. Tarun Jain, has been on the Board of the Company since March 2, 2001. He is member of Audit Committee and Finance Standing Committee of the Company. Mr. Jain has over 26 years of experience in the corporate finance, audit and accounting, tax and secretarial practice, strategic financial matters, including corporate finance, corporate strategy, business development and mergers and acquisitions.
He is a fellow member of the Institute of Chartered Accountants of India and Institute of Company Secretaries of India, besides being a Graduate of the Institute of Cost and Works Accountants of India. He is also on the Board of Vedanta Medical Research Foundation, AART Ventures Pvt. Ltd., AART Corporate Advisors Pvt. Ltd. and was also on the Board of Vedanta Limited, Hindustan Zinc Limited and MALCO Energy Limited.
Government Nominee Director
Mr. Mustaq Ahmad is an officer of Indian defence account service of 2006 batch. He was appointed on Board of Balco w.e.f. 20th August, 2020. He holds bachelor and master’s degree in Law from the University of Delhi. He has held various assignments in the Ministry of Defence (Finance) and served in Ladakh, Jammu, and Delhi. Prior to joining Ministry of Mines, he was Sr. Dy. CGDA(Admin) in the HQs of Defence Accounts Department. Presently he is a Director in the Ministry of Mines.
Independent Director
Mr. D.D. Jalan, aged about 64 years is a Chartered Accountant and has vast expertise of over 41 years in financial management, corporate negotiations, financial control, business planning, due diligence, business development, treasury, capital raising, business structuring, investor relations, commercial, taxation, people development and strategic planning. Mr. D.D. Jalan is pursuing an entrepreneurial stint and promoting start-ups through angel network. He is also an Independent Director on some of the prominent Boards. In his previous role, he was the Group Chief Financial Officer of Vedanta Resources Plc and an Executive Director and CFO of Vedanta Ltd till his superannuation in Sept 2016. He is Chairman of Audit Committee and Nomination & Remuneration Committee of Board of Company.
Independent Director
Mr. Arun Todarwal is a Chartered Accountant & has been in practice since1981. He is Managing Partner of M/s. Arun Todarwal & Associates LLP, Chartered Accountants. He is a Member of the UK 200 Group, a national affiliation of Chartered Accountant firms throughout United Kingdom. He has rich and varied experience in management consulting, finance, and audit, spanning over four decades He is an Independent Director in several listed companies. He is Chairman of Corporate Social Responsibility Committee of Board of Company.
Government Nominee Director
Ms. Nirupama Kotru, JS&FA, Ministry of Coal (MoC) (additional charge Ministry of Mines) has been appointed as government nominee Director in Balco on 4th August 2021. She is also on Board of Hindustan Zinc Limited.
Ms. Nirupama Kotru is an officer of the Indian Revenue Service (Income Tax) of the 1992 batch. Born on 28 January 1969, Nirupama Kotru has done her BA in Economics (Hons.) from St. Stephen’s College, Delhi University, and MA in Politics & International Relations from School of International Studies, Jawaharlal Nehru University, Delhi. Ms. Kotru has served in the Income Tax Department at Mumbai, Chennai, Delhi and Pune in various assignments and was involved in setting up of International Taxation Directorate of the Income Tax Deptt. As Director (E Governance) in the Ministry of Corporate Affairs, she administered the award-winning MCA21 corporate filing system. She was also instrumental in setting up the Indian Institute of Corporate Affairs at Manesar.
As Director (Films) in the Ministry of Information & Broadcasting, she looked after the administration of media units such as NFDC, Films Division, National Film Archive and the Directorate of Film Festivals, and all policy matters relating to films. Until recently she was posted as Joint Secretary in the Ministry of Culture, Govt of India. She brings with her varied experience in different fields of administration as well as taxation.
Government Nominee Director
Mr. Shakil Alam, Economic Advisor, Ministry of Mines was appointed as Government Nominee Director on the Board of the Company on 4th August 2021. He is also on the Board of Hindustan Copper Limited.
Mr. Alam is MSc (Hon) in Economics and Master of Mgmt Studies from BITS Pilani and belong to the Indian Economic Service (IES) batch of 2001. He has also worked in the department of Ministry of Skill Development & Entrepreneurship, Department of Economic Affairs, President’s Secretariat, Department of Disinvestment and Ministry of Labour & Employment.
© Bharat Aluminium Company Limited - Annual Report 2021-22