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Hindalco records a strong Q2 led by exceptional performance in Novelis and India biz, PAT rises by whopping 783% yoy to Rs3,417cr

Hindalco said that the results were driven by an exceptional performance by Novelis and India Business, supported by favorable macros, strategic product mix, higher volumes, and stability in operations.

November 12, 2021 3:15 IST | India Infoline News Service
Hindalco
Aditya Birla Group metals flagship, Hindalco Industries reported its highest net profit in Q2 FY22, surpassing all previous quarterly performances. The Company’s consolidated PAT surged 783% to Rs3,417cr - a multifold rise of nearly nine times YoY.

In its audit report, Hindalco said that the results were driven by an exceptional performance by Novelis and India Business, supported by favorable macros, strategic product mix, higher volumes, and stability in operations. Novelis continued to report a high quarterly EBITDA, as a result of an upswing in demand for innovative and sustainable aluminium products, high recycled contents and an outstanding operational performance despite challenges in the automotive segment due to the global semiconductor chip shortage impacting the automotive industry.

Consolidated revenue from operations stood at Rs47,665cr rising by 52.6% in Q2FY22 from Rs31,237cr in the corresponding period of the previous year.

Key highlights of the quarter are:
  • All-time high Consolidated EBITDA at Rs8,048cr up 56% YoY and 19% QoQ
  • Novelis quarterly Adjusted EBITDA at $553* million, up 22% YoY
  • Novelis quarterly Adjusted EBITDA per ton at $571*, up 16% YoY
  • Novelis Net Income from continuing operations at $239* million, up 66% YoY
  • All-time high quarterly India Business EBITDA at Rs3,715cr, up 152% YoY; 48% increase QoQ
  • All-time high quarterly Aluminium India EBITDA at Rs3,247cr, up 173% YoY and 38% QoQ; EBITDA margins of 42%, highest in more than a decade
  • All-time high quarterly India Business PAT at Rs1,815cr, up 455% YoY; 75% increase sequentially
  • Consolidated Net Debt to EBITDA improved further to 1.93x as of September 30, 2021 vs 2.59x as of March 31, 2021
  • Hindalco to acquire Polycab’s 100% equity stake in Ryker Base Pvt Ltd. to increase its Copper value-added portfolio
Satish Pai, Managing Director, Hindalco Industries, said, “Our record-breaking performance this quarter is an affirmation of our fully integrated business model, which powers our performance in both upstream and downstream markets. Hindalco reported standout performances across all business segments: Indian Aluminium Business set a near global industry record by achieving EBITDA margin of 42%. Copper Business delivered the highest-ever quarterly sales in Q2, with both smelters running optimally to meet the robust market demand. Novelis once again achieved a record EBITDA per ton driven by higher volumes and favourable metal prices."

Pai added, "Our product-rich portfolio strategy continues to deliver results across diverse market scenarios. It encourages us to keep building the downstream asset base and expand our market footprint. The recent Ryker copper rod unit acquisition is in keeping with our downstream capex plans announced earlier this year. We also continue to push our ESG agenda and goals to meet our sustainability
vision on net neutrality, water positivity, zero discharge and more.”

On Sensex, Hindalco is trading at Rs469.35 per piece up 3.4% at around 3.12 pm. 

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