Hindalco Industries Limited, the Aditya Birla Group metals flagship, reported a consolidated quarterly Net Profit of Rs 2,454 crore, a sequential growth of 2 percent, the company on Tuesday announced through an exchange filing
Consolidated revenue for the first quarter stood at Rs 52,991 crore (vs Rs 55,857 crore in Q4 FY23), down 5 percent QoQ.
Hindalco reported an EBITDA of Rs 6,109 crore in Q1 FY24 (vs Rs 5,818 crore in Q4 FY23), up 5 QoQ.
Consolidated PAT in Q1 FY24 was Rs 2,454 crore compared to Rs 2,411 crore in Q4 FY23, up 2 percent QoQ. Consolidated Net Debt to EBITDA stood at 1.73x as of June 30th, 2023 vs 1.39x as of March 31st, 2023.
Aluminium India Downstream EBITDA for the quarter was Rs 147 crore, up 31 percent sequentially, due to enriched product mix.
Aluminum Upstream reported higher quarterly shipments at 341 Kt, up by 5 percent sequentially, driven mainly by higher demand in electrical and auto segments.
Novelis
Total shipments of flat rolled products were at 879 Kt in Q1 FY24 vs 936 Kt in Q4 FY23, down 6 percent QoQ. Novelis’ revenue stood at $4.1 billion (vs $4.4 billion), down 7 percent QoQ. Novelis reported an adjusted EBITDA of $421 million (vs $403 million), up 4 percent QoQ.
Novelis’ adjusted EBITDA per ton at $479 was up 11 percent sequentially.
Aluminium (India)
Upstream revenue was Rs 8,064 crore in Q1 FY24 vs Rs 8,050 crore in the prior quarter. Aluminium Upstream EBITDA stood at Rs 1,935 crore in Q1 FY24, compared to Rs 2,192 crore for Q4 FY23, down 12 percent QoQ due to lower metal prices. Upstream EBITDA margins were at 24 percent and continue to be one of the best in the global industry.
Downstream first quarter revenue was Rs 2,435 crore vs Rs 2,738 crore in the prior quarter. Sales of Downstream Aluminium stood at 81 Kt vs 90 Kt in Q4 FY23, down 9 percent QoQ. Downstream EBITDA stood at Rs 147 crore in Q1 FY24 compared to Rs 112 crore for Q4 FY23, up 31 percent QoQ due to better product mix.
Copper
Revenue from the Copper Business stood at Rs 11,502 crore, up 3 percent QoQ, driven by higher sales volumes. EBITDA for the Copper Business was Rs 531 crore in Q1 FY24 compared to Rs 598 crore in Q4 FY22, down 11 percent QoQ. Copper metal sales were at a record 118 Kt (vs 117 Kt). Copper Continuous Cast Rod (CCR) sales were also at an all-time high of 98 Kt (vs 95 Kt), up 4 percent QoQ in line with growing market demand for value-added products.
Hindalco Industries Limited shares
The shares of Hindalco Industries on Tuesday at 2:02 pm IST were at Rs 453.40, down by 2.46 percent.
