India’s TOP 500 Companies 2021

INDIA’S TOP 500 COMPANIES 2021 148 Experts’ View What has been the success mantra of the company? What are some of the key milestones of the company in recent years? India is one of the fastest growing economies in the world and Aluminium is one of the key Growth Sectors for India and possess a huge potential to contribute as a wealth creator for nation’s economic growth. BALCO’s Aluminium production is poised to chart the future appropriate self- reliance journey of the country. As BALCO grows in strength, it has been able to explore India’s demographic dividend that currently needs to be capitalized for the realization of our vision of becoming a USD 5 trillion economy. BALCO truly believes that despite the mammoth challenges that industries across the world are faced with, BALCO is on the right path to experience new heights of social, sustainable, and economic growth as we move from one milestone to the next. BALCO has created a 360-degree multiplier effect for the nation. It resulted in the economic progress of the regional business community comprising over 5,000 downstream businesses. BALCO is keen to offer its community of industry associations, technical experts and research institutes for collaboration with MSMEs to engineer development of new products, product applications and new markets for those applications. BALCO also runs a Cancer Hospital at Raipur with complete support from the government. Can you share a brief background of the company and its operation? What are the key products / services provided by the company? Producing 20% of the country’s aluminium today, BALCO produces nearly 6 lakh tons of Aluminium per annum. The power production capacity at BALCO has also reached 2010 MW per annum from 270 MW at the time of disinvestment. It has also generated employment for people from the local community. BALCO’s aluminium production supports the self-reliance of the country, and this industry has been recognised as a champion industry. It is poised to grow to 10 lakh tons/annum which will be nearly 10 times the capacity it had at the time of disinvestment. The Aluminium sector plays a vital role in nation’s economy and is a sector of strategic importance to the country due to its role in energy security, national defense, aerospace, automobile, infrastructure, electricity transmission & distribution, and many other ancillary applications. BALCO is deploying industry-leading digital technologies, creating super alloys to support the country’s emerging applications of aluminium to make aluminium usage comparable to the most developed countries in the world. What makes BALCO Ltd stand out as compared to its industry peers? What are some of the competitive advantages the company holds? Bharat Aluminium Company Limited (BALCO) is India’s iconic aluminium producer. It is owned 49% by the Government of India and 51% by Vedanta Limited. Vedanta Limited is the world’s the largest producer of aluminium in India. BALCO operates a 0.57 million tonne per annum aluminium smelter in Korba, Chhattisgarh. It is also a leader in value-added aluminium products that find critical applications in core industries. With its world-class smelter and power plants, the company fulfills its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow. BALCO, the only aluminium industry in Chhattisgarh, has contributed significantly to empowering the state and the country in its 55 years of development journey. In the two decades after disinvestment, BALCO contributed about 1000 Cr to State Exchequer annually and employment to 15000 people directly & indirectly which will increase with our future expansion. BALCO has created economic opportunities worth thousands of crores of rupees in the state. How has the pandemic impacted your organization? What steps did you take to tide over the crisis? BHARAT ALUMINIUM COMPANY LIMITED Abhijit Pati CEO & Director, BALCO Dun & Bradstreet