- 11 Feb 2022
- ICICIdirect Research
Hindalco reports stellar performance; business model remains on strong footingHINDALCO - 421 Change: 14.40 (3.54 %)
News:For the quarter, topline for Hindalco’s India business waas at Rs.18485 crore, up 62% YoY, 6% QoQ, higher than our estimate of Rs.16565 crore. For the quarter, EBITDA of India business was at Rs.3769 crore, up 121% YoY, 5% QoQ, higher than our estimate of Rs.3253 crore. For Q3FY22, ensuing PAT for India business was at Rs.1734 crore, up 250% YoY but down 4% QoQ, higher than our estimate of Rs.1529 crore.
Views: Hindalco’s Indian operations reported a healthy set of numbers for Q3FY22, wherein topline, EBITDA and PAT came in higher than our estimates. Better-than-expected performance from both the segment aluminum division as well copper division aided Hindalco’s (Indian operation) operational performance during the quarter. In terms of segment-wise break up, for the quarter Indian aluminum segment reported EBITDA of Rs.3376 crore, up 131% YoY, 4% QoQ higher than our estimate of Rs.2927 crore while Indian copper segment reported EBITDA of Rs.390 crore, up 63% YoY, 11% QoQ, higher than our estimate of Rs.326 crore.