Q1FY24 Preview: Hindalco Industries: Revenue seen at Rs. 510,467 million, PAT at Rs. 17,266 million

4 Aug 2023 , 04:42 PM

Result date: 8^th August, 2023

Recommendation: Buy

Target price: Rs. 482

(Source: IIFL Research)

Hindalco Industries (Hindalco) could witness 3% sequential decline in aluminium volumes amid decline of 5% in aluminium LME. The company’s consolidated revenue could fall both sequentially as well as over the year-ago quarter.

Weakness in topline is likely to reflect at the operating profit and net profit level as well. The company’s India EBITDA (standalone + Utkal) could decline owing to lower aluminium LME prices and lower EBITDA of copper business (due to lower production as a result of plant shutdowns). 

Hindalco’s Profit After Tax (PAT) could decline 58.07% over the year-ago quarter and 22.37% sequentially.

Rs. Million	June 2023 estimates	YoY change	QoQ change
Revenue	510,467	(12.07)%	(8.77)%
EBITDA	48,108	(18.97)%	(10.77)%
Profit After Tax (Rs. mn)	17,266	(58.07)%	(22.37)%

Source: Brokerage Reports