Steep fall in LME Aluminium prices to weigh on earnings Hindalco's standalone 1QFY16 EBITDA was ahead of our estimate at Rs8.8bn, which grew by 17% yoy and 3.5% qoq as against our estimate of Rs6.6bn. The aluminium segment reported a 32% yoy increase in revenues on higher sales volume. Aluminium EBIT margins at 6.4% fell 100bps qoq and 423bps yoy. The fall was lower than expected due to lower input costs and despite closure of its captive coal mine (Talabira I). Copper segment reported stable margins at 7.4% during the quarter on firm Tc/Rc. Going forward, while volumes will continue to increase due...