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Q2FY24 Preview: Hindalco Industries: Revenue seen at Rs. 526,762 million, PAT at Rs. 4,852 million

7 Nov 2023 , 12:29 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 Securities. 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:

  • Growth outlook 
  • Margin drivers and trends thereof
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

Related Tags

  • Hindalco
  • Hindalco Industries
  • Hindalco Industries Q2
  • Hindalco Q2
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