Team News Riveting
Mumbai, February 10
Hindalco Industries Limited, the Aditya Birla Group metals flagship, reported its highest net profit in Q3 FY22, surpassing all previous quarterly performances.
The Company’s consolidated PAT surged to a record-high of Rs 3,675 crore, an increase of 96 per cent (year-on-year) YoY. The results were driven by a consistent performance by Novelis and an exceptional performance by India Business, supported by favorable macros, strategic product mix and an improved performance by the downstream business.
Novelis continued to report consistent quarterly EBITDA despite challenges in the automotive segment due to the global semiconductor chip shortage, unplanned production downtime in South America and supply chain bottlenecks in Asia.
“Our sustained performance and strong balance sheet are driving our plans for further organic capex. We have already announced over Rs 3,000 crore investments in our downstream pipeline –Hirakud and Silvassa, and the acquisitions of Ryker and Hydro’s Kuppam units,” Satish Pai, Hindalco Industries Managing Director, said.
Key Highlights of Q3 FY22:
▪ All-time high Consolidated PAT at Rs 3,675 crore, up 96% YoY
▪ Consolidated EBITDA at Rs 7,624 crore, up 38% YoY
▪ Novelis’ quarterly Adjusted EBITDA at $506* million and EBITDA per ton at $544*, both up
by 1% YoY
▪ Novelis Net Income from continuing operations at $259* million, up 33% YoY
▪ All-time high quarterly Aluminium India EBITDA at ₹3,376 crore, up 131% YoY; EBITDA
margins of 41%
▪ Consolidated Net Debt to EBITDA at a strong 1.62x as of December 31, 2021 vs 2.59x as
of March 31, 2021
