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Consolidated net sales (including other operating income) of Hindalco Industries has increased 7.59% to Rs 57013 crore. Sales of Novelis segment has gone up 3.94% to Rs 34,929.00 crore (accounting for 58.28% of total sales). Sales of Aluminium Upstream segment has gone up 9.61% to Rs 8,839.00 crore (accounting for 14.75% of total sales). Sales of Aluminium Downstream segment rose 17.78% to Rs 2,868.00 crore (accounting for 4.79% of total sales). Sales of Copper segment has gone up 15.56% to Rs 13,292.00 crore (accounting for 22.18% of total sales). Inter-segment sales rose Rs 1,771.00 crore to Rs 2,249.00 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 41.62% to Rs 8,578.00 crore. PBIT of Novelis segment rose 20.66% to Rs 4,170.00 crore (accounting for 48.61% of total PBIT). PBIT of Aluminium Upstream segment rose 80.52% to Rs 3,493.00 crore (accounting for 40.72% of total PBIT). PBIT of Aluminium Downstream segment fell 18.52% to Rs 110.00 crore (accounting for 1.28% of total PBIT). PBIT of Copper segment rose 51.60% to Rs 805.00 crore (accounting for 9.38% of total PBIT). PBIT margin of Novelis segment rose from 10.28% to 11.94%. PBIT margin of Aluminium Upstream segment rose from 24.00% to 39.52%. PBIT margin of Aluminium Downstream segment fell from 5.54% to 3.84%. PBIT margin of Copper segment rose from 4.62% to 6.06%. Overall PBIT margin rose from 10.89% to 14.31%. Operating profit margin has jumped from 10.78% to 13.16%, leading to 31.31% rise in operating profit to Rs 7,503.00 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 60.89% to 60.35%. Purchase of finished goods cost fell from 1.28% to 0.54%. Employee cost decreased from 6.76% to 6.62%. Other expenses fell from 20.13% to 19.69%. Power and Oil fuel cost fell from 7.20% to 5.92%. Provisions writeoffs cost rose from 0.04% to 0.14%. Other provisions rose from 0.04% to 0.14%. Other income rose 8.44% to Rs 424 crore. PBIDT rose 29.84% to Rs 7927 crore. Provision for interest fell 13.41% to Rs 859 crore. PBDT rose 38.24% to Rs 7068 crore. Provision for depreciation rose 5.94% to Rs 1892 crore. Profit before tax grew 55.58% to Rs 5,176.00 crore. Extraordinary items were decreased to Rs -330.00 crore. Provision for tax was expense of Rs 1774 crore, compared to Rs 863 crore. Effective tax rate was 36.59% compared to 26.02%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 25.26% to Rs 3,074.00 crore. Promoters’ stake was 34.64% as of 30 June 2024 ,compared to 34.64% as of 30 June 2023. Commenting on the results, Mr. Satish Pai, Managing Director, Hindalco Industries, said, “Our strong Q1 results ride on the back of consistent operational excellence and cost optimization which allowed us to leverage the higher average metal prices. The Copper business achieved its highest quarterly EBITDA driven by high domestic sales (especially downstream products), healthy by-product credits and better operational efficiencies following a successful planned shutdown. The Aluminium India Upstream business recorded an 81% growth in EBITDA over the previous year. At 40%, it has registered the highest EBITDA margins globally. Novelis’ EBITDA per tonne at $525, was up 10% YoY, primarily due to increased volumes led by normalized beverage can shipments. Looking ahead, the major capital formation phase of the downstream business is near completion, and from here on, we will explore growth opportunities in the upstream business given our strong cash position. On the ESG front, I am happy to report that we are on track on our roadmap for climate action, waste recycling, water conservation, and biodiversity protection.”Business Segment Performance in Q1FY25 (vs Q1FY24) Novelis: Total shipments of flat rolled products were at 951 KT in Q1 FY25 vs 879 KT in Q1 FY24, up 8% YoY supported by normalised demand for beverage packaging sheet. Novelis’ revenue in Q1 FY25 stood at $4.2 billion (vs $4.1 billion), up 2% YoY, driven by higher average aluminium prices YoY and higher shipments. Novelis reported an adjusted EBITDA of $500 million (vs $421 million), up 19% YoY supported by higher shipments and favourable product pricing. Novelis’ adjusted EBITDA per tonne at $525 was up 10% YoY. Net income attributable to our common shareholder, was $151 million in Q1 FY25, down 3% YoY due to initial charges associated with flooding at the Sierre plant, Switzerland, caused by unprecedented heavy rainfall in end-June, as well as higher restructuring and unfavorable metal price lag, largely offset by higher Adjusted EBITDA. The total net cash impact of flooding at Novelis Sierre plant, after insurance, is estimated at $80 million. The net impact to Adjusted EBITDA is estimated to be $30 million, the majority of which will occur in the second quarter. Aluminium (India): Quarterly Upstream revenue was ?8,839 crore in Q1 FY25 vs ?8,064 crore in the prior year period. Aluminium Upstream EBITDA stood at ?3,493 crore in Q1 FY25, compared with ?1,935 crore for Q1 FY24, up 81% YoY supported by lower input costs. Upstream EBITDA margins, at 40%, were the best in the global industry. Downstream revenue was ?2,868 crore in Q1 FY25 vs ?2,435 crore in the prior year period. Sales of Downstream Aluminium stood at 96 KT vs 81 KT in Q1 FY24, up 18% YoY. Downstream EBITDA per tonne was $138 in Q1 FY25, compared to $202 for Q1 FY24, down 32% YoY..Copper: Quarterly revenue from the Copper Business stood at ?13,292 crore, up 16% YoY, on account of higher shipments and realisation. EBITDA for the Copper Business was at an all-time high of ?805 crore in Q1 FY25 compared to ?531 crore in Q1 FY24, up 52% YoY backed by higher average copper prices and robust operations. Quarterly Copper metal sales were at 119 KT (vs 118 KT). Copper Continuous Cast Rod (CCR) sales were at 100 KT in Q1 FY25 (vs 98 KT), up 2% YoY in line with growing market demand for value added products. Full year results analysis Net sales (including other operating income) of Hindalco Industries has declined 3.24% to Rs 215962 crore. Sales of Novelis was down 10% to Rs 134175 crore (accounting for 59% of total sales). Sales of Aluminium upstream fell 2% to Rs 32382 crore (accounting for 14% of total sales). Sales of Aluminium downstream was down 4% to Rs 10531 crore (accounting for 5% of total sales). Sales of Copper segment was up 18% to Rs 49321 crore (accounting for 22% of total sales). Inter-segment sales fell 5% to Rs Rs 10447 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 8% to Rs 27857 crore. PBIT of Novelis rose 7% to Rs 15507 crore (accounting for 56% of total PBIT). PBIT of Aluminium upstream rose 9% to Rs 9161 crore (accounting for 33% of total PBIT). PBIT of Aluminium downstream decreassed 9% to Rs 573 crore (accounting for 2% of total PBIT). PBIT of Copper segment rose 16% to Rs 2616 crore (accounting for 9% of total PBIT). PBIT margin of Novelis rose from 98% to 11.6%. PBIT margin of Aluminium upstream rose from 25.5% to 28.3%. PBIT margin of Aluminium downstream decreased from 5.7% to 5.4%. PBIT margin of Copper segment fell from 5.4% to 5.3%. Overall PBIT margin rose from 11% to 12.3%. . Operating profit margin has jumped from 10.15% to 11.05%, leading to 5.32% rise in operating profit to Rs 23,872.00 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 61.82% to 60.93%. Purchase of finished goods cost rose from 0.71% to 0.82%. Employee cost increased from 5.94% to 6.89%. Other expenses fell from 21.23% to 20.25%. Power and Oil fuel cost fell from 7.89% to 6.74%. Provisions writeoffs cost rose from 0.10% to 0.18%. Other provisions rose from 0.10% to 0.18%. Other income rose 19.01% to Rs 1496 crore. PBIDT rose 6.04% to Rs 25368 crore. Provision for interest rose 5.81% to Rs 3858 crore. Loan funds declined from Rs 60,291.00 crore as of 31 March 2023 to Rs 56,356.00 crore as of 31 March 2024. Inventories declined from Rs 42,958.00 crore as of 31 March 2023 to Rs 40,812.00 crore as of 31 March 2024. Sundry debtors were higher at Rs 16,404.00 crore as of 31 March 2024 compared to Rs 16,214.00 crore as of 31 March 2023. Cash and bank balance declined from Rs 15,083.00 crore as of 31 March 2023 to Rs 14,437.00 crore as of 31 March 2024. Investments rose to Rs 15,444.00 crore as of 31 March 2024 from Rs 14,116.00 crore as of 31 March 2023 . PBDT rose 6.08% to Rs 21510 crore. Provision for depreciation rose 6.14% to Rs 7521 crore. Fixed assets increased to Rs 1,00,602.00 crore as of 31 March 2024 from Rs 92,581.00 crore as of 31 March 2023. Intangible assets increased from Rs 25,745.00 crore to Rs 26,075.00 crore. Profit before tax grew 6.05% to Rs 13,989.00 crore. Share of profit/loss was 77.78% lower at Rs 2 crore. Extraordinary items were decreased to Rs 21.00 crore. Provision for tax was expense of Rs 3857 crore, compared to Rs 3144 crore. Effective tax rate was 27.53% compared to 23.74%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 0.57% to Rs 10,155.00 crore. Equity capital stood at Rs 222.00 crore as of 31 March 2024 to Rs 222.00 crore as of 31 March 2023. Per share face Value remained same at Rs 1.00. Promoters’ stake was 34.64% as of 31 March 2024 ,compared to 34.64% as of 31 March 2023 . Cash flow from operating activities increased to Rs 24,056.00 crore for year ended March 2024 from Rs 19,208.00 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 15,728.00 crore, compared to Rs 9,737.00 crore during the year ended March 2023. The scrip is currently trading at Rs 617. Hindalco Industries : Consolidated Results | Particulars | 2406 (03) | 2306 (03) | Var.(%) | 2403 (12) | 2303 (12) | Var.(%) | | Net Sales | 57,013 | 52,991 | 8 | 2,15,962 | 2,23,202 | -3 | | OPM (%) | 13.2 | 10.8 | | 11.1 | 10.2 | | | OP | 7,503 | 5,714 | 31 | 23,872 | 22,666 | 5 | | Other Inc. | 424 | 391 | 8 | 1,496 | 1,257 | 19 | | PBIDT | 7,927 | 6,105 | 30 | 25,368 | 23,923 | 6 | | Interest | 859 | 992 | -13 | 3,858 | 3,646 | 6 | | PBDT | 7,068 | 5,113 | 38 | 21,510 | 20,277 | 6 | | Depreciation | 1,892 | 1,786 | 6 | 7,521 | 7,086 | 6 | | PBT | 5,176 | 3,327 | 56 | 13,989 | 13,191 | 6 | | Share of Profit/(Loss) from Associates | 2 | 2 | 0 | 2 | 9 | -78 | | PBT before EO | 5178 | 3329 | 56 | 13991 | 13200 | 6 | | EO Income | -330 | -12 | 999 | 21 | 41 | -49 | | PBT after EO | 4848 | 3317 | 46 | 14012 | 13241 | 6 | | Taxation | 1774 | 863 | 106 | 3857 | 3144 | 23 | | PAT | 3074 | 2454 | 25 | 10155 | 10097 | 1 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | | Net profit | 3074 | 2454 | 25 | 10155 | 10097 | 1 | | EPS (Rs)* | # | # | | 45.1 | 44.8 | | | Notes | | * EPS is on current equity of Rs 224.72 crore, Face value of Rs 1, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
Hindalco Industries : Consolidated Segment Results | | % of (Total) | 2406 (03) | 2306 (03) | Var.(%) | % of (Total) | 2403 (12) | 2303 (12) | Var.(%) | Sales | | | | | | Novelis | 58 | 34,929 | 33,606 | 4 | 59 | 1,34,175 | 1,48,471 | -10 | | Aluminium Upstream | 15 | 8,839 | 8,064 | 10 | 14 | 32,382 | 33,010 | -2 | | Aluminium Downstream | 5 | 2,868 | 2,435 | 18 | 5 | 10,531 | 11,009 | -4 | | Copper | 22 | 13,292 | 11,502 | 16 | 22 | 49,321 | 41,702 | 18 | | Total Reported Sales | 100 | 59,928 | 55,607 | 8 | 100 | 2,26,409 | 2,34,192 | -3 | | Less: Inter segment revenues | | 2,249 | 1,771 | 27 | | 10,447 | 10,990 | -5 | | Net Sales | | 57,679 | 53,836 | 7 | | 2,15,962 | 2,23,202 | -3 | PBIT | | | | | | Novelis | 49 | 4,170 | 3,456 | 21 | 56 | 15,507 | 14,543 | 7 | | Aluminium Upstream | 41 | 3,493 | 1,935 | 81 | 33 | 9,161 | 8,402 | 9 | | Aluminium Downstream | 1 | 110 | 135 | -19 | 2 | 573 | 627 | -9 | | Copper | 9 | 805 | 531 | 52 | 9 | 2,616 | 2,253 | 16 | | Total PBIT | 100 | 8,578 | 6,057 | 42 | 100 | 27,857 | 25,825 | 8 | | Less : Interest | | 859 | 992 | -13 | | 3,858 | 3,646 | 6 | | Add: Other un-allcoable | | -2871 | -1748 | 64 | | -9,987 | -8,938 | 12 | PBT | | 4,848 | 3,317 | 4 | | 14,012 | 13,241 | 4 |
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