On a consolidated basis, the company registered a net loss of Rs709cr in the quarter under review, against a profit of Rs1,063cr of Q1FY20. Consolidated revenue from operations saw a decline of 15.64% yoy to Rs25,283cr.
Talking about the financial performance, Satish Pai, Managing Director, Hindalco Industries said, “I am pleased with our ability to forge ahead despite the weak post-COVID market scenario. All our Aluminium India smelters operated at more than 90% capacity during the lockdown. We maintained our sales volumes, with exports accounting for nearly 80% of sales. This performance led to our Indian Aluminium Business recording an industry-high EBITDA margin.”
Pai added, “Novelis also delivered an industry-high EBITDA per ton, amidst a challenging business environment, partly due to strong contribution by Aleris. Novelis’ automotive customers across regions are trending upwards, towards reaching pre-pandemic production levels, with record automotive shipments in China. We are seeing green shoots both in domestic and international markets and we are ready to handle the rise in demand.”
Other key highlights of the financial performance in Q1FY21 versus Q1FY20, as per the regulatory filing are:
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Steady Aluminium India metal sales at 303 Kt versus 320 Kt. -
Sustained Aluminium India Business EBITDA at Rs856cr versus Rs853cr. -
An industry-best EBITDA margin of 19.3%, up 380 bps in Aluminium India Business. -
Achieved record automotive shipments in Asia in Novelis. -
Novelis Adjusted EBITDA at $253M; Adjusted EBITDA per ton at $327. -
Completed acquisition of Aleris on April 14 and began integration to drive synergies.
On Sensex, Hindalco stock ended flat at Rs183.85 per piece.
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