7 Nov 2023 , 12:26 PM
Result date: November 10, 2023
Recommendation: Buy
Target price: Rs. 574
Hindalco Industries (Hindalco) could witness 6% decline in its revenue as compared to the year-ago quarter, estimate analysts at IIFL Capital Services. Higher volume growth at Novelis (amid continued traction in beverage can and automotive segments) will be a key positive. However, back home, lower LME prices will be a pressure point, which could be partly offset by lower costs. Hindalco’s copper business could stay stable amid higher by-product prices and value added sales.
Overall profitability could be under pressure amid unfavorable operating leverage. Profit After Tax (PAT) could decline 78% as compared to the year-ago quarter.
Important management insights to watch out for:
Rs. Million |
September 2023 estimates |
YoY change |
Revenue |
526,762 |
(6.2)% |
EBITDA |
42,194 |
(21.3)% |
Profit After Tax |
4,852 |
(78.0)% |
Source: IIFL Research
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