Hindalco Industries gained 1.64% to Rs 391.45 after the company's consolidated net profit soared 189% to Rs 1,928 crore on 38.16% increase in revenue from operations at Rs 40,507 crore in Q4 FY21 over Q4 FY20.
On a consolidated basis, profit before tax (PBT) surged 133% to Rs 3,254 crore in Q4 FY21 as against Rs 1,395 crore in Q4 FY20. Consolidated Business EBITDA stood at Rs 5,597 crore in Q4 FY21, rising 33% year on year.Hindalco said results were driven by a strong performance by Novelis and India Aluminium business, supported by higher volumes and better product mix, lower input costs, stability in operations and cost saving actions. The Copper Business recorded a 33% jump in EBITDA sequentially in Q4 FY21 versus Q3 FY21 on account of stable operations. Novelis reported an all-time high EBITDA, as a result of continued demand for innovative, sustainable aluminium solutions and outstanding operational performance across its expanded business.
The net profit declined 8% to Rs 3,483 crore on 12% increase in revenue from operations to Rs 1,31,985 crore in the year ended March 2021 (FY21) over the year ended March 2020 (FY20).
Gross debt declined by Rs 18,187 crore and net debt fell by Rs 14,883 crore as of 31 March 2021 from its peak on 30 June 2020.
Net debt stood at Rs 47,419 crore at the end of 31 March 2021 compared with Rs 39,374 crore posted on 31 March 2020.
Consolidated net debt to EBITDA ratio improved significantly to 2.59x on 31 March 2020, from a peak of 3.83x on 30 June 2020.
Commenting on the results, Satish Pai, MD of Hindalco Industries said, This past year, with all its volatility and uncertainty, has underscored Hindalco's resilience and ability to deal with challenges. Our record Q4 results have strengthened our balance sheet even further, absorbing the Aleris acquisition and restoring consolidated net debt to EBITDA ratio to pre-acquisition levels. The Aleris business continues to positively impact the overall top line and EBITDA. Through Q4, our India business continued to rise with demand higher than pre-Covid levels. Across the entire Hindalco family, we acknowledge the commitment and resilience of our employees, our own Covid warriors. Looking ahead, although FY22 has started with a second Covid wave in India, Hindalco is confident that our inherent strengths and tenacity will support us through it.
Hindalco Industries, the metals flagship company of the Aditya Birla Group, is the world's largest aluminium rolling and recycling company, and a major copper player. It is also one of Asia's largest producers of primary aluminium.
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