Mumbai - Hindalco Industries Limited, the Aditya Birla Group metals flagship, reported its highest net profit in Q2 FY22, surpassing all previous quarterly performances.

The company's consolidated PAT surged 783 per cent to 3,417 crore, a multifold rise of nearly nine times YoY.

Key Highlights of Q3 FY21

All-time high Consolidated EBITDA at 8,048 crore, up 56 per cent YoY and 19 per cent QoQ

All-time high Consolidated PAT at 3,417 crore, up 783 per cent YoY and 23 per cent QoQ

Novelis quarterly Adjusted EBITDA at $553 million, up 22 per cent YoY

Novelis quarterly Adjusted EBITDA per tonne at $571, up 16 per cent YoY

Novelis Net Income from continuing operations at $239 million, up 66 per cent YoY

All-time high quarterly India Business EBITDA at 3,715 crore, up 152 per cent YoY; 48 per cent increase QoQ

All-time high quarterly Aluminium India EBITDA at 3,247 crore, up 173 per cent YoY and 38 per cent QoQ; EBITDA margins of 42 per cent, highest in more than a decade

All-time high quarterly India Business PAT at 1,815 crore, up 455 per cent YoY; 75 per cent increase sequentially

Consolidated Net Debt to EBITDA improved further to 1.93x as of 30 September 2021 vs 2.59x as of 31 March 2021

Hindalco to acquire Polycab's 100 per cent equity stake in Ryker Base Pvt Ltd. to increase its Copper value-added portfolio

The results were driven by an exceptional performance by Novelis and India Business, supported by favourable macros, strategic product mix, higher volumes, and stability in operations. Novelis continued to report a high quarterly EBITDA, as a result of an upswing in demand for innovative and sustainable aluminium products, high recycled contents and an outstanding operational performance despite challenges in the automotive segment due to the global semiconductor chip shortage impacting the automotive industry.

Commenting on the results, Mr. Satish Pai, Managing Director, Hindalco Industries, said: 'Our record-breaking performance this quarter is an affirmation of our fully integrated business model, which powers our performance in both upstream and downstream markets. Hindalco reported standout performances across all business segments: Indian Aluminium Business set a near global industry record by achieving EBITDA margin of 42 per cent. Copper Business delivered the highest-ever quarterly sales in Q2, with both smelters running optimally to meet the robust market demand. Novelis once again achieved a record EBITDA per tonnene driven by higher volumes and favourable metal prices.

Our product-rich portfolio strategy continues to deliver results across diverse market scenarios. It encourages us to keep building the downstream asset base and expand our market footprint. The recent Ryker copper rod unit acquisition is in keeping with our downstream capex plans announced earlier this year. We also continue to push our ESG agenda and goals to meet our sustainability vision on net neutrality, water positivity, zero discharge and more.'

About Hindalco Industries Limited

Hindalco Industries Limited is the metals flagship company of the Aditya Birla Group. An $18 billion metals powerhouse, Hindalco is the world's largest aluminium company by revenues, and a major player in copper. It is also one of Asia's largest producers of primary aluminium.

Guided by its purpose of building a greener, stronger, smarter world, Hindalco provides innovative solutions for a sustainable planet. Its wholly-owned subsidiary Novelis Inc. is the world's largest producer of aluminium beverage can stock and the largest recycler of used beverage cans (UBCs).

Hindalco's copper facility in India comprises a world-class copper smelter, downstream facilities, and a captive jetty. The copper smelter is among the world's largest custom smelters at a single location. Hindalco's global footprint spans 48 manufacturing units across 10 countries.

Contac:

Email: hindalco@adityabirla.com

Web: www.hindalco.com

Disclaimer

Statements in this 'Media Release' describing the company's objectives, projections, estimates, expectations or predictions may be 'forward looking statements' within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the company's operations include global and Indian demand supply conditions, finished goods prices, feed stock availability and prices, cyclical demand and pricing in the company's principal markets, changes in Government regulations, tax regimes, economic developments within India and the countries within which the company conducts business and other factors such as litigation and labour negotiations. The company assume no responsibility to publicly amend, modify or revise any forward looking statement, on the basis of any subsequent development, information or events, or otherwise.

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