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MarketScreener Homepage  >  Equities  >  MUMBAI STOCK EXCHANGE  >  Hindalco Industries Limited    500440   INE038A01020

HINDALCO INDUSTRIES LIMITED

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Hindalco to supply 1.2 million tonnes of bauxite residue to UltraTech Cement

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08/20/2020 | 06:48am EDT
FILE PHOTO: Workers walk in front of an UltraTech concrete mixture truck at the construction site of a commercial complex on the outskirts of Ahmedabad

India's Hindalco Industries Ltd on Thursday signed an agreement with UltraTech Cement Ltd to supply 1.2 million tonnes of bauxite residue every year to be used as a raw material for cement, as part of its push for alternative methods of disposing of the toxic waste.

Hindalco, India's top aluminium and copper producer, said it would supply 2.5 million tonnes of bauxite residue, also known as red mud, to 40 cement companies this year, to help cement makers to replace their existing raw materials such as laterite, a mineral.

Of the 2.5 million tonnes, 1.2 million tonnes would go to UltraTech's 14 cement plants spread across seven states.

"We are trying to match the price of laterite," Satish Pai, managing director of Hindalco Industries Ltd, told Reuters. When aluminium producers process bauxite they get red mud, considered particularly dangerous for marine life, as a by-product.

Since two dam disasters in Brazil and Papua New Guinea's Basamuk Bay, where red mud from a nickel plant spilled into the sea last year, disposal of red mud has come under greater scrutiny.

Hindalco, which generates 4.5 million tonnes of red mud every year, also plans to use the by-product for road construction and in brick kilns and embankments, Pai said.

By Neha Arora


Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) 0.09% 6.6455 Delayed Quote.47.90%
HINDALCO INDUSTRIES LIMITED -5.35% 172.45 End-of-day quote.-20.20%
ULTRATECH CEMENT LIMITED -0.43% 4485.4 Delayed Quote.11.33%
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Financials
Sales 2021 1 230 B 16 635 M 16 635 M
Net income 2021 29 480 M 399 M 399 M
Net Debt 2021 588 B 7 953 M 7 953 M
P/E ratio 2021 13,2x
Yield 2021 0,62%
Capitalization 384 B 5 188 M 5 186 M
EV / Sales 2021 0,79x
EV / Sales 2022 0,65x
Nbr of Employees -
Free-Float 64,7%
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Mean consensus BUY
Number of Analysts 21
Average target price 227,70 INR
Last Close Price 172,45 INR
Spread / Highest target 65,3%
Spread / Average Target 32,0%
Spread / Lowest Target -18,8%
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Managers
NameTitle
Satish P. Pai Managing Director & Executive Director
Anil Kishan Kumar Malik President, Secretary & Compliance Officer
Kumar Mangalam Birla Non-Executive Chairman
Satish Jajoo COO & Head-Renukoot, Renusagar & Mahan Unit
Praveen Kumar Maheshwari Chief Financial Officer & Independent Director
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