EBITDA was down 40% YoY to USD219m on like-to-like basis (excluding Aleris) due to the impact of COVID-19. Aleris) with EBITDA of USD34m (included in 1QFY21 results). Re-iterate *estimate based on ex-Aleris basis, hence, not comparable Beverage can volumes declined to low single-digit during the quarter as weakness in South America and Asia can volumes was offset by strong demand Demand remains resilient in North America and Europe due to strong in-house consumption trend. The company achieved record shipments in automotive in China during the However, volumes recovered gradually during the quarter led by restocking demand from customers and are back to pre-COVID levels. Demand is also gradually improving on MoM basis, led by strong demand from Management expects aluminum-scrap spreads to remain strong in North Interest cost should stand at USD260-270m for the full year (v/s USD240m in FY20), which is lower than expected due to lower prevailing interest rates.