Team News Riveting
Mumbai, May 21
Hindalco Industries Limited, the Aditya Birla Group metals flagship, reported its best quarterly performance with consolidated profit-after-tax (PAT) up by whopping 189 per cent at Rs 1,928 crore for the quarter and year ended March 31, 2021.
The jump is a nearly three-fold increase year-on-year (YoY) basis. 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. The Copper Business recorded a 33 per cent jump in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) sequentially in Q4 FY21 versus Q3 FY21 on account of stable operations.
Novelis reported an all-time high EBITDA, as a result of continued demand for innovative, sustainable aluminium solutions and outstanding operational performance across its expanded business.
“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,” Satish Pai, Managing Director of Hindalco Industries Ltd., said.
Through Q4, the company’s 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,” Pai added.
Aluminium India EBITDA was at an all-time high of Rs 1,610 crore in Q4 FY21, compared to Rs 1,043 crore for Q4 FY20, an increase of 54 per cent YoY, primarily due to favourable macros, better operational efficiencies and lower input costs.
Hindalco Industries Limited is the metals flagship company of the Aditya Birla Group. An $18 billion metals powerhouse, Hindalco is the world’s largest aluminium company by revenues, and a major player in copper. It is also one of Asia’s largest producers of primary aluminium. Guided by its purpose of building a greener, stronger, smarter world, Hindalco provides innovative solutions for a sustainable planet. Its wholly-owned subsidiary Novelis Inc. is the world’s largest producer of aluminium beverage can stock and the largest recycler of used beverage cans (UBCs).
Hindalco’s copper facility in India comprises a world-class copper smelter, downstream facilities, a fertiliser plant and a captive jetty. The copper smelter is among the world’s largest custom smelters at a single location. Hindalco’s global footprint spans 47 manufacturing units across 10 countries.
