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Hindalco Q4 results: Consolidated PAT doubles to record Rs 3,851 cr, dividend declared

Hindalco Q4 results: Consolidated PAT doubles to record Rs 3,851 cr, dividend declared

The company's revenue from operations rose 38 per cent to Rs 55,764 crore in the quarter under review as against Rs 40,507 crore a year ago.

Hindalco Q4 results Hindalco Q4 results

Hindalco Industries Limited, the Aditya Birla Group metals subsidiary, on Thursday reported a 100 per cent rise in its consolidated net profit at record Rs 3,851 crore for the quarter ended 31 March, 2022. The company had reported a net profit of Rs 1,928 crore for the same quarter last fiscal.

The company's revenue from operations rose 38 per cent to Rs 55,764 crore in the quarter under review as against Rs 40,507 crore a year ago.

Its consolidated earnings before interest, taxes, depreciation, and amortization or EBITDA stood at Rs 7,597 crore, up 30 per cent YoY, while the firm witnessed an all-time high quarterly aluminium India EBITDA at Rs 4,050 crore, up 123 per cent YoY. EBITDA margins of 41 per cent during the quarter.

The results were driven by an exceptional performance by India Business, supported by favourable macros, strategic product mix and an improved performance by the downstream business, the company stated.

Graphic credit: Mohsin Shaikh

Furthermore, Novelis’ Q4 results were impacted primarily due to cost inflation, semiconductor chip shortage in automotive and other short-term operational issues, it added.

Meanwhile, the board has also recommended dividend at Rs 4 per share for FY22 as against Rs 3/share for FY21.

Commenting on the results, Satish Pai, Managing Director, Hindalco Industries, said: “With record profitability in the fourth quarter, we had a very good end to the year. We attribute Hindalco’s highest-ever profits not just to strong macros, but also our consistent focus on operational excellence and cost optimization. We continue to remain one of the world’s lowest cost and highest EBITDA margin producers of aluminium."

"Our strategy to build a more sustainable business model that is isolated from metal cycles is working very well for us. In line with this, we have allocated over 70% of our growth capex to value-enhancing downstream segments. All our growth capex for the next five years will be funded out of internal accruals," he added.

"Our growth strategy will continue to be shaped by our 2050 ESG goals – achieving Net Zero in carbon emissions, effluent discharge, biodiversity loss and waste to landfill. To sum up, Hindalco sees a positive horizon which inspires us to invest in future-centric growth projects.”

Shares of Hindalco on Thursday closed 2.75 per cent higher at Rs 407.75 apiece on BSE