Hindalco Industries fell 2.69% to Rs 133.80 at 10:52 IST on BSE after its overseas subsidiary Novelis reported weak earnings in Q4 March 2015 yesterday, 12 May 2015.
Meanwhile, the BSE Sensex was up 277.39 points, or 1.03%, to 27,154.87.
On BSE, so far 1.99 lakh shares were traded in the counter, compared with an average volume of 7.12 lakh shares in the past one quarter.
The stock hit a high of Rs 136.40 and a low of Rs 133.25 so far during the day. The stock hit a 52-week high of Rs 198.70 on 25 July 2014. The stock hit a 52-week low of Rs 123.50 on 16 March 2015.
The stock had outperformed the market over the past one month till 12 May 2015, falling 0.29% compared with 6.93% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, sliding 10.04% as against Sensex's 6.69% fall.
The large-cap company has an equity capital of Rs 206.50 crore. Face value per share is Re 1.
Novelis, the world leader in aluminum rolling and recycling, yesterday, 12 May 2015, reported 46.30% decline net income to $29 million on 12% increase in net sales to $2.8 billion in Q4 March 2015 over Q4 March 2014.
Shipments of aluminum rolled products totaled 758 kilotonnes for the fourth quarter of fiscal 2015, up slightly compared to shipments of 753 kilotonnes for the same period last year.
Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) for the fourth quarter of fiscal 2015 was $201 million compared to the $250 million reported for the same period a year ago. While automotive shipments ramped up as expected, the positive benefits from product mix shift were more than offset by unfavorable foreign exchange, falling local market metal premiums in the fourth quarter of fiscal 2015 compared to rising premiums in the fourth quarter of fiscal 2014, and an unexpected North American hot mill outage early in the fourth quarter of fiscal 2015.
Novelis reported net income of $148 million for fiscal year 2015, a 42% increase from the $104 million reported in fiscal 2014. Excluding certain tax-effected items, net income increased 4% to $161 million in fiscal 2015.
Adjusted EBITDA grew 2% to $902 million in fiscal 2015 compared to the $885 million reported in fiscal 2014. The increase was primarily driven by higher shipments, favorable product mix due to a strategic shift to grow automotive shipments and cost benefits from using a higher percentage of recycled metal inputs. Partially offsetting these gains were higher costs associated with the start-up and support of new capacity, lower pricing in some Asian markets, as well as unfavorable foreign exchange and metal price lag.
Fiscal 2015 revenues increased 14% to $11.14 billion compared to $9.8 billion in fiscal 2014. Revenue growth was driven by a 5% increase in shipments of rolled aluminum products to 3,050 kilotonnes in fiscal year 2015. Every operating region reported an increase in shipments year-over-year. Higher average metal prices in fiscal year 2015 also contributed to the increase in revenues.
Hindalco Industries' net profit rose 7.6% to Rs 359.36 crore on 17.9% rise in total income to Rs 8815.51 crore in Q3 December 2014 over Q3 December 2013.
Hindalco, a part of Aditya Birla Group, is the aluminium rolling company. It is one of the three biggest producers of primary aluminium in Asia with the largest single location copper smelter.
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