Jun. 1, 2024 - Hindalco Industries Limited, the Aditya Birla Group metals flagship, reported a consolidated quarterly Net Profit of Rs.3,174 crore, an increase of 32% YoY, driven by a robust performance and improved margins across all business segments. Novelis reported a strong fourth quarter performance with EBITDA per tonne at $540*, up 25% YoY.  

Copper Business delivered a new record-breaking performance in Q4, with EBITDA at an all-time high of Rs.776 crore, up 30% YoY, backed by record sales.  Aluminium Upstream EBITDA margins at 32% were the best in the industry, globally. Hindalco maintained a strong balance sheet and liquidity position which helped the company keep the Net Debt to EBITDA ratio below 2x.

Consolidated Financial Highlights for the Quarter and Year ended March 31, 2024

Commenting on the results, Mr. Satish Pai, Managing Director, Hindalco Industries, said, 

“Hindalco concluded the year with very strong results across all business segments. This was a clear testament to our strategic focus on value-added products and margin improvement. The Copper business has grown to become the 2nd largest in the world for Copper rods (excluding China). It achieved its best ever performance with sales crossing 500,000 tonnes for the first time, and an all-time high EBITDA for the quarter and the year. Similarly, the Aluminium India Upstream Business reported industry-best quarterly EBITDA margins of 32%, driven by higher volumes and cost optimisation. Our continued focus on enhancing share of the downstream segment is evident in its promising sales trajectory. Novelis demonstrated an improved EBITDA per tonne driven by lower operating costs, favourable metal benefits and market recovery.

We continue to maintain a strong balance sheet and solid liquidity even after repaying Rs. 5,195 crore of debt in Hindalco India business during the year. This positions us well to stay on our growth track and drive our future organic growth plans with prudent capital allocation.

On the ESG front, our large scale renewable and energy storage projects have put us well on track for our climate action targets, and we have further advanced our initiatives in waste recycling, protecting biodiversity and water conservation.”

Consolidated Results

Consolidated revenue for the fourth quarter stood at Rs.55,994 crore (vs Rs.55,857 crore), flat YoY and up 6% QoQ, on account of better realisations and volumes in India operations.

Hindalco reported an EBITDA of Rs.7,201 crore (vs Rs.5,818 crore) in Q4 FY24, up 24% YoY, driven by lower input costs and higher volumes. On a sequential basis, EBITDA was up 14% driven by better performance of India Aluminium, Copper and Novelis.

Consolidated PAT in Q4 FY24 was Rs.3,174 crore compared to Rs.2,411 crore in Q4 FY23, up by 32% YoY, and up 36% QoQ. Consolidated Net Debt to EBITDA stood at 1.21x as of March 31st, 2024 vs 1.39x as of March 31st, 2023.