Hindalco Industries Ltd's standalone numbers came in below expectations mainly on EBITDA and PAT fronts. Revenue rose by 5.9% yoy to Rs12,373cr (expectation Rs11,600cr). EBITDA stood at Rs902cr, down 28.2% yoy against estimates of Rs1,041cr. EBIDTA margin fell by 347bps yoy to 7.3%. Net Profit stood at Rs236cr against an estimate of Rs243cr.
Aluminium revenues (Incl. Utkal) were impacted on account of lower realisations. Margins declined by 54bps yoy on account of stronger rupee and lower realisations.
Production for the Aluminium segment in Q4FY19 stood at:
Alumina (Including Utkal)– 749k tonnes, up ~5% yoy
Aluminium– 321k tonnes, flat yoy
VAP – 120k tonnes, up 2% yoy
Production for the copper segment in Q4FY19 stood at:
Cathodes – 89k tonnes, down ~15% yoy
CC Rod –62k tonnes, up ~41% yoy. Ramp up of CCR-3 facility. CCR-3 production was at 117k tonnes
DAP – 69k tonnes, up ~130% yoy
Novelis reported flattish revenue on yoy basis. Adjusted EBITDA stood at $357mn, up ~12% yoy. Adjusted EBITDA per tonne stood at USD411 (vs. USD397 in Q4FY18), up 3% yoy.
Hindalco Industries Ltd is currently trading at Rs. 193, up by 2.15 points or 1.13% from its previous closing of Rs. 190.85 on the BSE.
The scrip opened at Rs. 191.25 and has touched a high and low of Rs. 194.75 and Rs. 190.05 respectively. So far 75,37,459 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.
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