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Hindalco Industries soars after recording PAT of ₹ 4,119 crore in Q1 FY23 
(14:54, 10 Aug 2022)

Consolidated revenue for the first quarter stood at ₹ 58,018 crore, up 40% YoY.

EBITDA improved by 27% to ₹ 8,640 crore in Q1 FY23 from ₹ 6,790 crore in Q1 FY22.

Consolidated net debt to EBITDA remained strong at 1.40x on 30 June 2022 compared to 2.36x on 30 June 2021.

Novelis recorded Revenue of $5.1 billion, up 32% YoY, driven by higher global aluminium prices. Total shipments of flat rolled products (FRPs) were at 962 Kt in Q1 FY23 as against 973 Kt in Q1 FY22, marginally lower due to supply chain constraints.

Novelis reported its best ever quarterly adjusted EBITDA of $561 million in Q1 FY23, up 1% YoY, primarily due to higher product pricing, favourable product mix and higher recycling benefits. Novelis reported record adjusted EBITDA per ton of $583 in Q1 FY23, compared to $570 in the prior year quarter.

Aluminium Upstream revenue was ₹ 8,699 crore in Q1 FY23 as against ₹ 6,151 crore in the prior year period. Third party shipments of primary aluminium stood at 333 Kt, up 2% YoY in Q1 FY23.

Aluminium Upstream EBITDA stood at ₹ 3,272 crore in Q1 FY23, an increase of 41% YoY, primarily due to favourable macros, higher volumes, better operational efficiencies, partially offset by higher input costs. Upstream EBITDA margins were at 38%.

Aluminium Downstream revenue was ₹ 2,740 crore in Q1 FY23 as against ₹ 2,293 crore in the prior year period. Sales of downstream aluminium stood at 78 Kt in Q1 FY23 as compared with 82 Kt in Q1 FY23.

Aluminium Downstream EBITDA stood at ₹ 158 crore in Q1 FY23, compared with ₹ 39 crore for Q1 FY22, an increase of 305% YoY, primarily due to better pricing of downstream products. EBITDA per ton for Aluminium Downstream stood at $261 as against $64 in Q1 FY22, an increase of 306% YoY.

Revenue from the Copper Business was ₹ 10,529 crore this quarter, up 48% YoY, primarily due to higher global prices of copper and higher volumes. EBITDA for the business was at a record ₹ 565 crore in Q1 FY23 compared to ₹ 261 crore in Q1 FY22, up 116% YoY, on the back of higher domestic sales, better operational efficiencies and improved by-product margins.

Satish Pai, managing director, Hindalco Industries, said: “After the record profitability of the fourth quarter, I am pleased to share that we delivered an even stronger first quarter despite rising input costs and inflationary pressures.

Our performance was backed by strong operational efficiencies and pre-emptive sourcing of critical raw material, thus ensuring stable operations and higher margins. Our business model supports our position as an integrated aluminium producer with one of the world's best EBITDA margins. Our product mix enhancement strategy is working well with the Aluminium Downstream EBITDA growing four-fold YoY.

Novelis reported its highest ever EBITDA per ton driven by higher product pricing, favourable product mix and higher recycling benefits. Looking ahead, we remain focused on riding all market cycles with our greener, stronger, smarter approach.”

Hindalco Industries is the metals flagship company of the Aditya Birla Group. A $26 billion metals powerhouse, Hindalco is the world's largest aluminium company by revenues, and a major player in copper. It is also one of Asia's largest producers of primary aluminium.

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