Earnings Review
Hindalco posts best-ever earnings in Jan-Mar, beats Street
This story was originally published at 18:18 IST on 20 May 2025
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--Hindalco Jan-Mar consol net profit INR 52.83 bln vs INR 31.74 bln year ago
--Analysts saw Hindalco Jan-Mar consol net profit INR 45.58 bln
--Hindalco Jan-Mar consol revenue INR 648.90 bln vs INR 559.94 bln year ago
--Hindalco to pay INR 5 per share dividend
--Hindalco FY25 consol net profit INR 160.01 bln vs INR 101.55 bln year ago
--Hindalco FY25 consol revenue INR 2.385 tln vs INR 2.160 tln year ago
--Hindalco Jan-Mar aluminium upstream sales INR 103.11 bln vs INR 84.69 bln
--Hindalco board OKs buying 100% stake in EMIL Mines and Mineral Resources
--Hindalco Jan-Mar aluminium downstream sales INR 35.95 bln vs INR 29.20 bln
--Hindalco Jan-Mar copper revenue INR 145.65 bln vs INR 134.24 bln year ago
--Hindalco: EMIL Mines is wholly-owned arm of Essel Mining & Industries
--Hindalco Jan-Mar consol EBITDA INR 102.96 bln vs INR 72.01 bln year ago
--Hindalco FY25 consol EBITDA INR 354.96 bln vs INR 257.28 bln year ago
--Hindalco: To buy EMIL Mines for INR 4.8 mln and INR 11.31 bln of net debt
--Hindalco consol gross debt INR 619.32 bln Mar 31 vs INR 636.96 bln Dec 31
--Hindalco consol net debt INR 353.32 bln on Mar 31 vs INR 418.18 bln Dec 31
--Hindalco Jan-Mar aluminium upstream volume 332,000 tn, down 2% on year
--Hindalco Jan-Mar India ops revenue INR 260.67 bln vs INR 229.30 bln yr ago
--Hindalco Jan-Mar aluminium upstream EBITDA/tn $1,684, up 74% on year
--Hindalco Jan-Mar India ops EBITDA INR 56.71 bln vs INR 36.29 bln yr ago
--Hindalco Jan-Mar aluminium upstream EBITDA INR 48.38 bln, up 79% on year
--Hindalco Jan-Mar copper ops volume 135,000 tn, unch on year
--Hindalco Jan-Mar aluminium upstream EBITDA up on year on lower input cost
--Hindalco Jan-Mar copper ops EBITDA INR 6.14 bln, down 21% on year
--Hindalco Jan-Mar aluminium downstream volume 105,000 tn, unch on year
--Hindalco Jan-Mar aluminium downstream EBITDA INR 2.19 bln, up 52% on year
--Hindalco Jan-Mar aluminium downstream EBITDA up YoY on favourable pdt mix
--Hindalco Jan-Mar aluminium downstream EBITDA/tn $240, up 46% on year
By Avishek Rakshit and Anjana Therese Antony
KOLKATA/MUMBAI – Hindalco Industries Ltd. Tuesday reported an all-time high consolidated revenue, net profit, and earnings before interest, tax, depreciation, and amortisation for the quarter and year ended March. This was driven by a strong performance by the Indian operations, aided by favourable macros and lower input costs.
The Aditya Birla Group's flagship metal company reported a 66% year-on-year increase in its consolidated net profit for the March quarter at INR 52.8 billion, while the revenue increased by 16% on year to INR 648.9 billion. The consolidated EBITDA in Jan-Mar increased 43% on year to INR 103.0 billion. The company's earnings were higher than the Street estimates, which pegged the net profit at INR 45.6 billion and revenue at INR 617.2 billion.
"Hindalco delivered an all-time high performance in FY25 (2024-25), driven by strong operational resilience, cost discipline, and continued momentum across all our businesses. Our aluminium upstream business in India remained a strong anchor, complemented by robust growth in the downstream business," Satish Pai, managing director of Hindalco Industries, said in a statement.
"The copper business achieved a record EBITDA backed by strong value-added product sales. Despite tighter scrap spreads, Novelis delivered a resilient performance through increased beverage can shipments," he said. Novelis is a US-based subsidiary of Hindalco, contributing more than 60% to the company's top line. Broking firms had said the subsidiary's robust financial growth in the reporting quarter, along with higher aluminium prices, will boost Hindalco's growth too. Despite headwinds, Novelis delivered a resilient performance with strong shipments in both the fourth quarter and the full year, led by robust demand for beverage packaging, the company said. The company's revenue from India operations increased almost 14% on year to INR 260.67 billion and EBITDA increased to INR 56.71 billion from INR 36.29 billion in the year-ago period.
ALUMINIUM BUSINESS
EBITDA of its aluminium upstream business increased 79% on year to INR 48.4 billion and that of the aluminium downstream business grew 52% on year to INR 2.2 billion – the highest ever in any quarter. EBITDA margin from the upstream aluminium business was at 47%. EBITDA of the aluminium upstream business grew on account of lower input costs and favourable macroeconomic factors and the downstream operations increased due to favourable product mix, the company said in a press release.
The aluminium segment's upstream business sales rose almost 22% from the year-ago period to INR 103.11 billion and EBITDA per tonne increased 74% to $1,684. However, the upstream volume was down 2% on year at 332,000 tonnes. Aluminium downstream sales increased 23% on year at INR 35.95 billion, while volume was steady at 105,000 tonnes. The downstream EBITDA per tonne grew 46% on year to $240.
For the year ended March, aluminium upstream business revenue grew to INR 382.68 billion from INR 323.82 billion in the previous year. EBITDA increased almost 78% from the previous year to INR 162.62 billion and EBITDA per tonne rose over 76% to $1449.
COPPER SEGMENT
Hindalco's copper business, which accounts for more than 22% of the overall top line, grew over 8% from the previous year to INR 145.65 billion, while copper metal sales were flat at 135,000, the company said. However, its EBITDA fell 21% to INR 6.14 billion, which the company said is at a 'healthy' level. The company said its copper tubes project is in the commissioning phase and the construction of the copper recycling project is progressing.
For the financial year ended March, the copper business sales increased to INR 547.03 billion from INR 493.21 billion in the previous year. EBITDA grew almost 16% during the year to INR 30.25 billion.
FY25
Hindalco's consolidated net profit in FY25 surged almost 58% to INR 160.01 billion and revenue increased 10% to INR 2.385 trillion. The EBITDA grew 38% to INR 354.96 billion. The company announced a dividend of INR 5 per share for the financial year.
The mining company's consolidated gross debt declined to INR 619.32 billion as of Mar. 31 from INR 636.96 billion a quarter ago. Its net debt also saw a decline, falling to INR 353.32 billion from INR 418.18 billion during the same period.
Hindalco's board approved acquiring 100% stake in EMIL Mines and Mineral Resources Ltd. for a consideration of INR 4.8 million, along with net debt value of INR 11.31 billion. EMIL Mines is a subsidiary of Essel Mining & Industries Ltd.
Hindalco released its quarterly earnings during market hours on Tuesday and its share price recovered immediately after falling briefly following the results. The stock closed 0.7% higher at INR 662.75 on the National Stock Exchange. It has risen more than 4% in the last seven days and almost 9% in 30 days. End
US$1 = INR 85.63
Edited by Saji George Titus
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