Conference Call with Hindalco Industries Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.
Aluminium & Aluminium Products company Hindalco Industries announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Consolidated EBITDA at Rs 7,201 crore, up 24% YoY Aluminium Upstream EBITDA at Rs 2,709 crore, up 24% YoY; Industry-best EBITDA margins at 32% All-time high quarterly Copper EBITDA at Rs 776 crore, up 30% YoY Novelis’ Adjusted EBITDA per tonne at USD 540, up 25% YoY FY24 Financial Highlights: Consolidated PAT at Rs 10,155 crore, up 1% Consolidated EBITDA at Rs 25,728 crore, up 7% All-time high Copper EBITDA at Rs 2,616 crore, up 16% All-time high metal sales volumes in aluminium of 1,372 KT up by 2%, and copper at 506 KT, up 15% Hindalco-Novelis in the top 1% S&P; Global ESG score in the Aluminium Industry Consolidated Net Debt to EBITDA at 1.21x as of March 31st, 2024 vs 1.39x a year ago Board recommends dividend @350% (Rs 3.5/share) for FY24 vs 300% (Rs 3/share) for FY23 Commenting on the results, Satish Pai, Managing Director, Hindalco Industries, said, “Hindalco concluded the year with very strong results across all business segments. This was a clear testament to our strategic focus on value-added products and margin improvement. The Copper business has grown to become the 2nd largest in the world for Copper rods (excluding China). It achieved its best ever performance with sales crossing 500,000 tonnes for the first time, and an alltime high EBITDA for the quarter and the year. Similarly, the Aluminium India Upstream Business reported industry-best quarterly EBITDA margins of 32%, driven by higher volumes and cost optimisation. Our continued focus on enhancing share of the downstream segment is evident in its promising sales trajectory. Novelis demonstrated an improved EBITDA per tonne driven by lower operating costs, favourable metal benefits and market recovery. We continue to maintain a strong balance sheet and solid liquidity even after repaying Rs 5,195 crore of debt in Hindalco India business during the year. This positions us well to stay on our growth track and drive our future organic growth plans with prudent capital allocation. On the ESG front, our large scale renewable and energy storage projects have put us well on track for our climate action targets, and we have further advanced our initiatives in waste recycling, protecting biodiversity and water conservation.” Result PDF