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
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.
We kept our people, staff, and community at the top of our priority list during these trying times, and ensured their safety.
Despite many challenges faced this year, we worked at the operational efficiency of 95%, which is about 0.4% greater than the previous year. In addition to that, we ccomplished 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. In the year under review, our aluminium production grew from 5,69,608 KT to ,81,675 KT, and our hot metal production reached 5,80,425 MT.
With our resolution to share healthy returns with our stakeholders, I am delighted to announce that our Company has performed exceptionally in FY22. Our RoA reached 25.29% and RoE was at 36%. We also enhanced our EPS to INR 124.02 in the FY22.
With the help of our well-defined sustainable development framework, we plan to serve our people and keep our motto in alignment with the UNSustainable Development Goals (UNSDG). During the year, we made an expenditure of INR 39.95 crore towards our CSR initiatives. Our initiatives benefited nearly 1.65 lakh people in the field of education, sustainable livelihoods, women’s empowerment, health, water & sanitation, sports & culture, environment, and community asset creation. Our CSR efforts have been directed towards 123 villages in four districts of Chhattisgarh i.e. Korba, Kawardha, Surguja and Baloda Bazar. The projects are carried out in partnership with the NGOs, local communities and Government.
Additionally, our Occupational health and safety management systems are ISO: 9001:2015, ISO 45001:2018 and ISO 14001:2015 certified to ensure the safety and well-being of our internal as well as external stakeholders.
As the second & third wave of the Covid hindered with the normal, once again, BALCO swiftly mobilized to provide relief work to people in times of crisis. 72,440 people were reached through various initiatives taken by BALCO.
Through continuous awareness drives in all the nearby communities the fear of Covid was contained, along with this sanitization drive was run covering nearby communities. 14000+ Sanitization kits each having Masks, Soap and Sanitizer bottle were distributed in nearby communities. For this more than 71,000 masks were stitched by 122 women of SHG groups who earned INR. 3.5 lacs.
Support was provided to district administration in the form of Medicines, Oximeters, Thermal Guns and Ventilators to tackle increasing cases of Covid.
At state level a 100 bedded Field Hospital was setup in Raipur to provide tertiary level care during pandemic.
We are hopeful about the future, and we expect that the current pandemic threat will be reduced shortly, allowing our firm to develop into a more resilient organisation. I am confident that we will continue expanding our operations, enhancing our operational efficiency, and fulfilling our purpose of delivering to our customers, shareholders, and all stakeholders who have placed their trust in us.
We extend our heartfelt gratitude towards our board members, investors, consumers, internal team, vendors and all our stakeholders. We will continue to strengthen the trust that we have built through our uninterrupted service, strong leadership and resilient strategies.
S. K. Roongta
© Bharat Aluminium Company Limited - Annual Report 2021-22