Hindalco Q4 consolidated profit up 189% to Rs.1928 Crore on strong Novelis performance

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Biznextindia : Hindalco Industries Limited, India’s largest producer of Aluminium and Copper has reported 189 per cent growth in consolidated profit at Rs.1,928 crore. The Copper Business recorded a 33% jump in EBITDA sequentially in Q4 FY21 versus Q3 FY21 on account of stable operations.

The results were driven by a strong performance by Novelis and India Aluminium Business, supported by higher volumes and better product mix, lower input costs, stability in operations and cost saving actions.

Novelis recorded its best-ever quarterly adjusted EBITDA of $505 million (vs $383 million), up 32% YoY, on the back of higher organic volume, favourable metal benefits, and a US$60 million EBITDA contribution from the acquired Aleris business. Adjusted EBITDA per ton was at $514 in Q4 FY21 (vs $472/ton), up 9% YoY. Novelis’ Net Income (excluding tax-effected special items) was at $172 million, up 12% YoY, partially offset by higher depreciation and amortization associated with the acquisition of Aleris. Revenue was $3.6 billion (vs $2.7 billion), up 33% YoY, due to higher shipments, global aluminium prices and market premiums.

The company’s aluminium business in India reported 54per cent YoY growth in EBITDA at Rs.1610 crore as against Rs.1043 crore, primarily due to favourable macros, better operational efficiencies and lower input costs. Revenue was Rs.5,969 crore in Q4 FY21 vs Rs.5,299 crore in the prior year period.

“This past year, with all its volatility and uncertainty, has underscored Hindalco’s resilience and ability to deal with challenges. Our record Q4 results have strengthened our balance sheet even further, absorbing the Aleris acquisition and restoring consolidated net debt to EBITDA ratio to pre-acquisition levels. The Aleris business continues to positively impact the overall top line and EBITDA. Through Q4, our India business continued to rise with demand higher than pre-Covid levels. Across the entire Hindalco family, we acknowledge the commitment and resilience of our employees, our own Covid warriors. Looking ahead, although FY22 has started with a second Covid wave in India, Hindalco is confident that our inherent strengths and tenacity will support us through it.” Mr. Satish Pai, Managing Director, Hindalco Industries Ltd. said.


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