Earnings Review
India ops lift Hindalco Apr-Jun PAT 30% YoY; above view
This story was originally published at 16:10 IST on 12 August 2025
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-Hindalco Apr-Jun India ops EBITDA INR 49.82 bln vs INR 44.08 bln year ago
--Hindalco Q1 India biz revenue INR 249.05 bln vs INR 227.50 bln year ago
--Hindalco consol net debt INR 342.57 bln on Jun 30 vs INR 353.32 bln Mar 31
--Hindalco consol gross debt INR 633.30 bln Jun 30 vs INR 619.32 bln Mar 31
--Hindalco Apr-Jun copper EBITDA INR 6.73 bln vs INR 8.05 bln year ago
--Hindalco Apr-Jun copper volume 124,000 tn vs 119,000 tn year go
--Hindalco Apr-Jun aluminium downstream EBITDA/tn $264, up 92% on year
--Hindalco Apr-Jun aluminium downstream EBITDA INR 2.29 bln, up 108% YoY
--Hindalco Apr-Jun aluminium downstream volume 101,000 tn, up 6% YoY
--Hindalco Apr-Jun aluminium upstream EBITDA/tn $1,467 vs $1,273 year ago
--Hindalco Apr-Jun aluminium upstream EBITDA up led by lower input costs
--Hindalco Apr-Jun aluminium upstream EBITDA INR 40.80 bln vs INR 34.93 bln
--Hindalco Apr-Jun aluminium upstream volume 325,000 tn vs 329,000 tn yr ago
--Hindalco Apr-Jun consol EBITDA INR 86.73 bln vs INR 79.92 bln year ago
--Hindalco Apr-Jun aluminium downstream sales INR 33.53 bln vs INR 28.68 bln
--Hindalco Apr-Jun aluminium upstream sales INR 93.31 bln vs INR 88.39 bln
--Hindalco Whole-time Director Praveen Kumar Maheshwari resigns effective Wed
--Hindalco Apr-Jun copper revenue INR 148.86 bln vs INR 132.92 bln yr ago
--Hindalco Apr-Jun consol revenue INR 642.32 bln vs INR 570.13 bln year ago
--Hindalco Apr-Jun consol net profit INR 40.04 bln vs INR 30.74 bln year ago
--Analysts saw Hindalco Apr-Jun consol net profit INR 35.72 bln
--Hindalco Apr-Jun consol net profit INR 40.04 bln
By Narayana Krishna
HYDERABAD - Hindalco Industries Ltd. on Tuesday reported a consolidated net profit of INR 40.04 billion for Apr-Jun, up 30.25% on year, while revenue for the quarter rose 12.66% on year to INR 642.32 billion. Hindalco's June quarter earnings are above the analysts' estimates both in terms of net profit and revenue.
Analysts had projected Hindalco's June quarter net profit at INR 35.7 billion on revenue of INR 604.1 billion. However, the net profit growth is the lowest in four quarters.
Despite weak performance by its US arm Novelis, the Aditya Birla group's flagship metals company posted robust growth in the June quarter led by better pricing and volumes in its India operations.
"The robust results were driven by a strong performance by the India business, and a resilient performance by Novelis," Hindalco said in a press release. The June quarter earnings growth is also aided by operational efficiencies, cost control, and an enhanced product mix, the company said.
While India operations saw healthy growth, US subsidiary Novelis witnessed headwinds due to higher scrap prices and tariffs. Novelis contributes about 60% of Hindalco Industries' consolidated sales.
On Monday, Novelis Inc. reported a 36% year-on-year drop in consolidated net income to $96 million from $151 million. Consolidated net sales rose 16% to $4.7 billion from $4.19 billion a year earlier.
Novelis posted quarterly earnings before interest, tax, depreciation and amortisation or EIBTDA of $416 million, down from $500 million a year ago, while EBITDA per tonne stood at $432. Analysts had expected $437 million in EBITDA and $440 per tonne.
Hindalco's reported its consolidated EBITDA at INR 86.7 billion against INR 79.9 billion a year ago and much above the analysts' estimates of INR 73.9 billion.
On a trailing basis, the company's consolidated net profit fell by 24.2% while revenue fell 1%.
Hindalco's India business June quarter revenue increased by 9% on year to INR 249.05 billion from INR 227.50 billion a year ago, while India operations EBITDA improved by 13% on year to INR 49.82 billion from INR 44.08 billion a year ago.
In Apr-Jun, Hindalco's aluminium downstream sales rose 17% on year to INR 33.53 billion from INR 28.68 billion. Downstream EBITDA jumped 108% to INR 2.29 billion, with EBITDA per tonne surged 92% to $264. Volumes in the downstream segment grew 6% to 101,000 tonnes.
In the aluminium upstream business, EBITDA per tonne increased to $1,467 from $1,273 a year earlier, driven by lower input costs. Upstream EBITDA rose 17% to INR 40.80 billion from INR 34.93 billion, while sales were up 6% to INR 93.31 billion from INR 88.39 billion. Upstream volumes, however, fell slightly to 325,000 tonnes from 329,000 tonnes a year ago.
Hindalco reported a 12% on year rise in its copper sales to INR 148.86 billion for the June quarter, while this segment EBITDA witnessed a fall of 16% on year to INR 6.73 billion. The copper volumes improved by 4% on year to 124,000 tonnes for the quarter.
Hindalco's total expenses for the quarter increased by 13.20% on year to INR 591.6 billion. Input costs for the quarter were up by 23.11% on year to INR 435.4 billion. The company's finance cost for the quarter fell by over 12% on year to INR 7.54 billion. Hindalco's consolidated gross debt increased to INR 633.30 billion as on Jun. 30 when compared to INR 619.33 billion on Mar. 31. The net debt was at INR 342.57 billion as of Jun. 30, and at INR 353.32 billion a quarter ago.
Hindalco Industries said its whole-time director Praveen Kumar Maheswari has resigned, effective Wednesday.
On Tuesday, shares of Hindalco Industries ended at INR 667.05 on the National Stock Exchange, down 0.8% from the previous close. End
US$1 = INR 87.71
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Vandana Hingorani
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