Hindalco earmarks $4-5B for upstream expansion

12 Nov 2024 , 11:28 AM

To expand its upstream facilities for copper and aluminium, Hindalco Industries plans to invest $4 to $5 billion over three years, the firm announced Monday.

Late on Monday, the Aditya Birla group’s metal flagship company revealed its September quarter numbers. Thanks to robust growth in its India division, its consolidated net profit increased 78% year over year to ₹3,909 crore.

Managing director Satish Pai stated on a teleconference following the profits that these comprise a copper smelter, an alumina refinery, an aluminium smelter, and a copper recycling plant.

Due to lower input costs, the EBITDA increased 79% year over year to ₹3,709 crore, while revenue from the upstream aluminium business increased 16% year over year to ₹9,125 crore. This company’s operating margins were 41%.

Earnings before interest, tax, depreciation, and amortisation increased 49% year over year to ₹9,100 crore from ₹6,096 crore, while the company’s consolidated revenue from operations increased more than 7% to ₹58,203 crore.

The downstream aluminium industry generated ₹3,161 crore in revenue, a 20% increase over the prior year. The company’s copper division generated an all-time high of ₹819 crore in EBITDA, a 27% increase over the prior year.

For feedback and suggestions, write to us at [e-mail]