|
Net sales (including other operating income)
of Hindalco Industries has increased 7.45% to Rs 58203 crore. Sales of Novelis segment has gone up 6% to Rs
35975 crore (accounting for 59% of total sales). Sales of Aluminium Upstream segment has gone
up 16% to Rs 9125 crore (accounting for 15% of total sales). Sales of Aluminium Downstream segment rose
20% to Rs 31621 crore (accounting for 5% of total sales). Sales of Copper segment has gone up 5% to Rs
13114 crore (accounting for 21% of total sales). Inter-segment sales rose from Rs 2740 crore
to Rs 3172 crore.
Profit before interest, tax and other
unallocable items (PBIT) has jumped 24% to Rs 8564 crore. PBIT of Novelis segment fell 3% to Rs 3872
crore (accounting for 45% of total PBIT).
PBIT of Aluminium Upstream segment rose 79% to Rs 3709 crore (accounting
for 43% of total PBIT). PBIT of
Aluminium Downstream segment fell 1% to Rs 154 crore (accounting for 2% of
total PBIT). PBIT of Copper segment rose
27% to Rs 829 crore (accounting for 10% of total PBIT).
PBIT margin of Novelis segment fell from
11.8% to 10.8%. PBIT margin of Aluminium
Upstream segment rose from 26.3% to 40.6%.
PBIT margin of Aluminium Downstream segment fell from 5.9% to 4.9%. PBIT margin of Copper segment rose from 5.2%
to 6.3%. Overall PBIT margin rose from
12.1% to 14%.
Operating profit margin has jumped from
10.36% to 13.54%, leading to 40.47% rise in operating profit to Rs 7,883.00
crore. Raw material cost as a % of total
sales (net of stock adjustments) decreased from 63.05% to 61.19%. Purchase of finished goods cost rose from
0.46% to 1.05%. Employee cost decreased
from 6.60% to 6.40%. Other expenses
fell from 19.73% to 18.08%. Power and
Oil fuel cost fell from 6.55% to 6.04%.
Provisions writeoffs cost rose from 0.05% to 0.25%. Other provisions rose from 0.05% to
0.25%.
Aluminium Upstream EBITDA per tonne was at
$1,349, up 80%, with industry-best margins of 41%. Copper Business delivered
another record-breaking performance in Q2, with EBITDA at an all-time high of
Rs 829 crore, up 27%. Novelis’ performance was impacted by the Sierre flood and
tightening of scrap spreads. Excluding the Sierre flood impact, shipments grew
by 4% and EBITDA per tonne was at $502.
Other income rose 132.18% to Rs 1075
crore. PBIDT rose 47.46% to Rs 8958
crore. Provision for interest fell
15.96% to Rs 869 crore. Loan funds rose
to Rs 60,959.00 crore as of 30 September 2024 from Rs 58,372.00 crore as of 30
September 2023. Inventories rose to Rs
47,625.00 crore as of 30 September 2024 from Rs 42,522.00 crore as of 30
September 2023. Sundry debtors were
higher at Rs 18,016.00 crore as of 30 September 2024 compared to Rs 16,628.00
crore as of 30 September 2023. Cash and
bank balance declined from Rs 13,930.00 crore as of 30 September 2023 to Rs
10,685.00 crore as of 30 September 2024.
Investments rose to Rs 22,453.00 crore as of 30 September 2024 from Rs
12,608.00 crore as of 30 September 2023 .
PBDT rose 60.46% to Rs 8089 crore. Provision for depreciation rose 4.83% to Rs
1932 crore. Fixed assets increased to Rs
101,474.00 crore as of 30 September 2024 from Rs 95,797.00 crore as of 30
September 2023. Intangible assets
increased from Rs 25,880.00 crore to Rs 32,271.00 crore.
Profit before tax grew 92.53% to Rs 6,157.00
crore. Share of profit/loss were nil in
both the periods. Provision for tax was
expense of Rs 1734 crore, compared to Rs 1035 crore. Effective tax rate was 30.73% compared to
32.03%.
Minority interest was nil in both the
periods. Net profit attributable to
owners of the company increased 78.01% to Rs 3,909.00 crore driven by a strong
operational performance by the India business, favourable macros and prudent
cost management.
Equity capital stood at Rs 222.00 crore as of
30 September 2024 to Rs 222.00 crore as of 30 September 2023. Per share face Value remained same at Rs
1.00.
Promoters’ stake was 34.64% as of 30
September 2024 ,compared to 34.64% as of 30 September 2023 .
Commenting
on the results, Mr. Satish Pai, Managing Director, Hindalco Industries, said, "Our India
business delivered a strong operational performance in Q2 bolstered by our
relentless focus on operational reliability and cost management. Consequently,
our Aluminium India Upstream business reported an EBITDA per tonne of $1,349—
the highest in the last 10 quarters and the best-in-industry globally. The
Copper business achieved another record quarterly EBITDA. Novelis’ global
footprint allowed the company to achieve record beverage packaging shipments,
partially offsetting the impact from the flooding-related outage at Sierre.
During the quarter, we made significant
progress across our growth projects in India Business and Novelis. Our
company’s robust cash flow generation enabled us to maintain a consolidated net
debt-toEBITDA ratio below 1.2x.
Notably, Hindalco has been recognized as the
World`s Most Sustainable Aluminium Company for the fifth consecutive year in
the S&P Global Corporate Sustainability Assessment rankings 2024, achieving
a score of 87 out of 100—up 9 points from last year’s score, and our highest
score till date. This achievement underscores our comprehensive approach to
ESG, with dedicated efforts towards water positivity, zero waste to landfill,
net-zero emissions, and preserving biodiversity.”
For
year-to-date (YTD) results analysis
Net sales (including other operating income)
of Hindalco Industries has increased 7.52% to Rs 115216 crore. Sales of Novelis segment has gone up 5% to Rs
70904 crore (accounting for 58% of total sales). Sales of Aluminium Upstream segment has gone
up 13% to Rs 17964 crore (accounting for 16% of total sales). Sales of Aluminium Downstream segment rose
19% to Rs 6029 crore (accounting for 5% of total sales). Sales of Copper segment has gone up 10% to Rs
26406 crore (accounting for 22% of total sales). Inter-segment sales rose from Rs 5356 crore
to Rs 6087 crore.
Profit before interest, tax and other
unallocable items (PBIT) has jumped 32% to Rs 17142 crore. PBIT of Novelis segment rose 8% to Rs 8042
crore (accounting for 47% of total PBIT).
PBIT of Aluminium Upstream segment rose 80% to Rs 7202 crore (accounting
for 42% of total PBIT). PBIT of
Aluminium Downstream segment fell 9% to Rs 264 crore (accounting for 2% of
total PBIT). PBIT of Copper segment rose
32% to Rs 1634 crore (accounting for 10% of total PBIT).
PBIT margin of Novelis segment rose from 11%
to 11.3%. PBIT margin of Aluminium
Upstream segment rose from 25.1% to 40.1%.
PBIT margin of Aluminium Downstream segment fell from 5.7% to 4.4%. PBIT margin of Copper segment rose from 4.9%
to 6.2%. Overall PBIT margin rose from
11.5% to 14.1%.
Operating profit margin has jumped from
10.57% to 13.35%, leading to 35.85% rise in operating profit to Rs 15,386.00
crore. Raw material cost as a % of total
sales (net of stock adjustments) decreased from 62.00% to 60.78%. Purchase of finished goods cost fell from
0.86% to 0.80%. Employee cost decreased
from 6.68% to 6.51%. Other expenses
fell from 19.93% to 18.88%. Power and
Oil fuel cost fell from 6.87% to 5.98%.
Provisions writeoffs cost rose from 0.04% to 0.19%. Other provisions rose from 0.04% to
0.19%.
Other income rose 75.53% to Rs 1499
crore. PBIDT rose 38.63% to Rs 16885
crore. Provision for interest fell
14.71% to Rs 1728 crore. Loan funds rose
to Rs 60,959.00 crore as of 30 September 2024 from Rs 58,372.00 crore as of 30
September 2023. Inventories rose to Rs
47,625.00 crore as of 30 September 2024 from Rs 42,522.00 crore as of 30
September 2023. Sundry debtors were
higher at Rs 18,016.00 crore as of 30 September 2024 compared to Rs 16,628.00
crore as of 30 September 2023. Cash and
bank balance declined from Rs 13,930.00 crore as of 30 September 2023 to Rs
10,685.00 crore as of 30 September 2024.
Investments rose to Rs 22,453.00 crore as of 30 September 2024 from Rs
12,608.00 crore as of 30 September 2023 .
PBDT rose 49.27% to Rs 15157 crore. Provision for depreciation rose 5.37% to Rs
3824 crore. Fixed assets increased to Rs
101,474.00 crore as of 30 September 2024 from Rs 95,797.00 crore as of 30
September 2023. Intangible assets
increased from Rs 25,880.00 crore to Rs 32,271.00 crore.
Profit before tax grew 73.69% to Rs 11,333.00
crore. Provision for tax was expense of
Rs 3508 crore, compared to Rs 1898 crore.
Effective tax rate was 33.44% compared to 28.99%.
Minority interest was nil in both the
periods. Net profit attributable to
owners of the company increased 50.17% to Rs 6,983.00 crore.
Equity capital stood at Rs 222.00 crore as of
30 September 2024 to Rs 222.00 crore as of 30 September 2023. Per share face Value remained same at Rs
1.00.
Promoters’ stake was 34.64% as of 30
September 2024 ,compared to 34.64% as of 30 September 2023 .
Cash flow from operating activities increased
to Rs 7,652.00 crore for YTD ended September 2024 from Rs 5,229.00 crore for
YTD ended September 2023. Cash flow used
in acquiring fixed assets during the YTD ended September 2024 stood at Rs
9,360.00 crore, compared to Rs 6,955.00 crore during the YTD ended September
2023.
The scrip is currently trading at Rs 651.
|
Hindalco Industries : Consolidated
Results
|
|
Particulars
|
2409
(03)
|
2309
(03)
|
Var.(%)
|
2409
(06)
|
2309
(06)
|
Var.(%)
|
2403
(12)
|
2303
(12)
|
Var.(%)
|
|
Net
Sales (including other operating income)
|
58,203
|
54,169
|
7
|
1,15,216
|
1,07,160
|
8
|
2,15,962
|
2,23,202
|
-3
|
|
OPM
(%)
|
13.5
|
10.4
|
|
13.4
|
10.6
|
|
11.1
|
10.2
|
|
|
OP
|
7,883
|
5,612
|
40
|
15,386
|
11,326
|
36
|
23,872
|
22,666
|
5
|
|
Other
Inc.
|
1,075
|
463
|
132
|
1,499
|
854
|
76
|
1,496
|
1,257
|
19
|
|
PBIDT
|
8,958
|
6,075
|
47
|
16,885
|
12,180
|
39
|
25,368
|
23,923
|
6
|
|
Interest
|
869
|
1,034
|
-16
|
1,728
|
2,026
|
-15
|
3,858
|
3,646
|
6
|
|
PBDT
|
8,089
|
5,041
|
60
|
15,157
|
10,154
|
49
|
21,510
|
20,277
|
6
|
|
Depreciation
|
1,932
|
1,843
|
5
|
3,824
|
3,629
|
5
|
7,521
|
7,086
|
6
|
|
PBT
|
6,157
|
3,198
|
93
|
11,333
|
6,525
|
74
|
13,989
|
13,191
|
6
|
|
Share
of Profit/(Loss) from Associates
|
0
|
0
|
-
|
2
|
2
|
0
|
2
|
9
|
-78
|
|
PBT
before EO
|
6,157
|
3,198
|
93
|
11,335
|
6,527
|
74
|
13,991
|
13,200
|
6
|
|
EO
Income
|
-514
|
33
|
PL
|
-844
|
21
|
PL
|
21
|
41
|
-49
|
|
PBT
after EO
|
5,643
|
3,231
|
75
|
10,491
|
6,548
|
60
|
14,012
|
13,241
|
6
|
|
Taxation
|
1,734
|
1,035
|
68
|
3,508
|
1,898
|
85
|
3,857
|
3,144
|
23
|
|
PAT
|
3,909
|
2,196
|
78
|
6,983
|
4,650
|
50
|
10,155
|
10,097
|
1
|
|
Minority
Interest (MI)
|
0
|
0
|
-
|
0
|
0
|
-
|
0
|
0
|
-
|
|
Net
profit
|
3,909
|
2,196
|
78
|
6,983
|
4,650
|
50
|
10,155
|
10,097
|
1
|
|
EPS
(Rs)*
|
#
|
#
|
|
#
|
#
|
|
45.12
|
44.79
|
|
|
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)
|
2409
(03)
|
2309
(03)
|
Var.(%)
|
%
of (Total)
|
2409
(03)
|
2309
(03)
|
Var.(%)
|
%
of (Total)
|
2403
(12)
|
2303
(12)
|
Var.(%)
|
|
Sales
|
|
|
|
|
|
Novelis
|
59
|
35,975
|
33,961
|
6
|
58
|
70,904
|
67,567
|
5
|
59
|
1,34,175
|
1,48,471
|
-10
|
|
Aluminium
Upstream
|
15
|
9,125
|
7,878
|
16
|
15
|
17,964
|
15,942
|
13
|
14
|
32,382
|
33,010
|
-2
|
|
Aluminium
Downstream
|
5
|
3,161
|
2,629
|
20
|
5
|
6,029
|
5,064
|
19
|
5
|
10,531
|
11,009
|
-4
|
|
Copper
|
21
|
13,114
|
12,441
|
5
|
22
|
26,406
|
23,943
|
10
|
22
|
49,321
|
41,702
|
18
|
|
Total
Reported Sales
|
100
|
61,375
|
56,909
|
8
|
100
|
1,21,303
|
1,12,516
|
8
|
100
|
2,26,409
|
2,34,192
|
-3
|
|
Less:
Inter segment revenues
|
|
3,172
|
2,740
|
16
|
|
6,087
|
5,356
|
14
|
|
10,447
|
10,990
|
-5
|
|
Net
Sales
|
|
58,203
|
54,169
|
7
|
|
1,15,216
|
1,07,160
|
8
|
|
2,15,962
|
2,23,202
|
-3
|
|
PBIT
|
|
|
|
|
|
Novelis
|
45
|
3,872
|
3,998
|
-3
|
47
|
8,042
|
7,454
|
8
|
56
|
15,507
|
14,543
|
7
|
|
Aluminium
Upstream
|
43
|
3,709
|
2,074
|
79
|
42
|
7,202
|
4,009
|
80
|
33
|
9,161
|
8,402
|
9
|
|
Aluminium
Downstream
|
2
|
154
|
156
|
-1
|
2
|
264
|
291
|
-9
|
2
|
573
|
627
|
-9
|
|
Copper
|
10
|
829
|
653
|
27
|
10
|
1634
|
1184
|
38
|
9
|
2,616
|
2,253
|
16
|
|
Total
PBIT
|
100
|
8,564
|
6,881
|
24
|
100
|
17,142
|
12,938
|
32
|
100
|
27,857
|
25,825
|
8
|
|
Less
: Interest
|
|
869
|
1034
|
-16
|
|
1728
|
2026
|
-15
|
|
3,858
|
3,646
|
6
|
|
Add:
Other un-allcoable
|
|
-2052
|
-2616
|
-22
|
|
-4923
|
-4364
|
13
|
|
-9,987
|
-8,938
|
12
|
|
PBT
|
|
5,643
|
3,231
|
4
|
|
10,491
|
6,548
|
4
|
|
14,012
|
13,241
|
4
|
|