Hindalco Industries, the Aditya Birla Group metals flagship, reported its fiscal fourth quarter earnings on Friday with profit at Rs 3174 crore, up 31.6 per cent in comparison to Rs 2411 crore during the corresponding quarter of FY23. The profit growth was driven by a robust performance and improved margins across all business segments. It posted revenue from operations at Rs 55,994 crore, marginally higher than Rs 55,857 crore recorded during the fourth quarter of previous fiscal year, on account of better realisations and volumes in India operations. The company EBITDA stood at Rs 6681 crore, up 25.4 per cent on-year.
The company recommended a dividend of Rs 3.50 per equity share of Re 1 each for the year ended March 31, 2024.
Hindalco Industries Q4 performance across business verticals
Novelis: Total shipments of flat rolled products were at 951 KT in Q4 FY24 vs 936 KT in Q4 FY23, up 2 per cent YoY, supported by stronger demand for beverage packaging and record automotive shipments. Novelis’ revenue in Q4FY24 stood at $4.1 billion (vs $4.4 billion), down 7 per cent YoY, impacted by lower average aluminium prices YoY.
Aluminium (India): Quarterly Upstream revenue was Rs 8,469 crore in Q4FY24 vs Rs 8,050 crore in the prior year period. Aluminium Upstream EBITDA stood at Rs 2,709 crore in Q4FY24, up 24 per cent YoY, supported by lower input costs. Downstream revenue, meanwhile, was Rs 2,920 crore in Q4FY24 vs Rs 2,738 crore in the prior year period. Sales of downstream aluminium stood at 105 KT vs 90 KT in Q4FY23, up 17 per cent YoY.
Copper: Quarterly revenue from the copper business stood at Rs 13,424 crore, up 20 per cent YoY, on account of higher volumes. EBITDA for the copper business was at an all-time high of Rs 776 crore in Q4FY24, up 30 per cent YoY, backed by stable operations, higher domestic sales and better Tc/Rc. Quarterly copper metal sales were at 135 KT. Copper Continuous Cast Rod (CCR) sales were at 98 KT in Q4FY24, up 3 per cent YoY in line with growing market demand for value added products.
Satish Pai, Managing Director, Hindalco Industries, said, “The Copper business has grown to become the 2nd largest in the world for Copper rods (excluding China). It achieved its best ever performance with sales crossing 500,000 tonnes for the first time, and an alltime high EBITDA for the quarter and the year. Similarly, the Aluminium India Upstream Business reported industry-best quarterly EBITDA margins of 32 per cent, driven by higher volumes and cost optimisation. Our continued focus on enhancing share of the downstream segment is evident in its promising sales trajectory.”
“We continue to maintain a strong balance sheet and solid liquidity even after repaying Rs 5,195 crore of debt in Hindalco India business during the year. This positions us well to stay on our growth track and drive our future organic growth plans with prudent capital allocation,” he added.