Hindalco Industries cuts FY22 capex to Rs 2,400 cr on Covid-19 impact

Company sees strong demand from packaging, industrial, transportation sectors

With the demand outlook for aluminium looking strong, Hindalco Industries will largely focus on organic expansion both globally as well as in the domestic market in the coming quarter. For FY22, however, the company would have to slightly scale down the capital expenditure to Rs 2,400 crore.

“We lost a few months to the second wave of Covid in the beginning of this fiscal. Due to this, we will have to end capex for FY22 about Rs 300 crore lower than planned,” Satish Pai, managing director at Hindalco Industries, told Business Standard.

The Aditya Birla Group company, early this month