Hindalco reported a steady Q4FY18 performance. Domestic operations reported a topline of | 11,681.1 crore (up 5.9% YoY, 6.0% QoQ) higher than our estimate of | 11,072.3 crore. The aluminium segment reported sales of ~321000 tonne (our estimate: ~330000 tonne) while copper sales were at ~108000 tonne (our estimate: ~105000 tonne) Reported EBITDA came in at | 1257.6 crore (down 6.7% YoY, 4.1% QoQ), broadly in line with our estimate of | 1267.5 crore. The resultant EBITDA margin was at 10.8% (vs. Q4FY17: 12.2%, Q3FY18: 11.9%,...