Page 2 - Hindalco Industries

Hindalco to invest Rs 800 cr for 25,000-tonne battery foil plant in Odisha

Hindalco Industries said that it has already achieved the technology breakthrough of manufacturing battery foils at its Mouda unit in Maharashtra

Healthy prospects ahead for Hindalco; analysts positive on the stock

The stock gained over 1 per cent on results to around Rs 488. Analysts seem to be positive on the stock with valuations ranging up to Rs 580

Hindalco Industries Q2FY24 results: Net profit flat at Rs 2,196 crore

The company beat street estimates on revenue but missed it on profit reported in the quarter under review

Hindalco Industries profit remains flat at Rs 2,196 cr in September quarter

Aditya Birla Group's metal flagship Hindalco Industries said its consolidated profit was almost flat at Rs 2,196 crore in the quarter ended September 2023. The company had posted a consolidated profit of Rs 2,205 crore in the July-September period of the previous fiscal, Hindalco Industries said in a filing to BSE. In a statement, the company said its net profit at Rs 2,196 crore was in line with the previous-year quarter, and down 11 per cent quarter on quarter, mainly due to accounting adjustments arising out of conversion from US GAAP to Indian accounting standard Ind AS. The consolidated total income of the company during July-September period dropped to Rs 54,632 crore from Rs 56,504 crore in the year-ago period, Hindalco Industries said. All the business segments of the company experienced improved quarter-on-quarter (Q-o-Q) performance. The copper business achieved its highest quarterly EBITDA of Rs 653 crore, a 23 per cent rise Q-o-Q, due to highest-ever metal ...

OMC inks pact with Hindalco to supply raw minerals to alumina refinery

State-owned Odisha Mining Corporation (OMC) on Thursday signed a pact with Hindalco Industries for providing long-term raw material linkage for its refinery project at Kansariguda in Rayagada district. The agreement was signed in presence of Chief Minister Naveen Patnaik. OMC MD Balwant Singh his Hindalco counterpart Satish Pai signed the agreement for their respective organisations. The pact will speed up the work for a two-million ton alumina refinery in Rayagada. Terming the development as a significant milestone in the journey of Odisha's industrial growth, Patnaik said the state is poised to become an industrial hub of the East. "Let's co-create a future where business and socio-economic growth go hand in hand, making Odisha a shining example for the world," he said. Patnaik appealed to people of Rayagada to provide support to the refinery project, so that work can start soon and make visible changes in the lives of local people. In June, the state government came up with a n

Hindalco to sign pact with Odisha Mining Corporation for supply of Bauxite

Hindalco Industries Ltd on Thursday said it will enter into a pact with the Odisha Mining Corporation for long-term supply of Bauxite ore. The company plans to secure Bauxite ore for its proposed 2-million tonnes alumina refinery and 150-MW captive power plant at Kansariguda, Rayagada district, in Odisha. This will be Hindalco's second alumina refining plant in the Rayagada district of Odisha. "Hindalco Industries will be entering into a Memorandum of Understanding (MoU) with Odisha Mining Corporation for the long-term supply of Bauxite ore for its proposed 2-million tonnes alumina refinery and 150-MW captive power plant at Kansariguda in the Rayagada district," the company said in a regulatory filing. The total proposed investment of Rs 8,000 crore will be in two phases. The first phase of one million tonnes is likely to be commissioned in FY'27, at an investment of Rs 5,500 crore. Hindalco is one of the country's leading aluminium manufacturing companies.

7th round of commercial coal mine auction: Centre sign pacts with 6 bidders

The Centre on Friday entered into pacts with six bidders, including Hindalco Industries and NLC India Ltd, which bagged coal blocks under the seventh round of coal mines auction. The government had launched the seventh round of auctions for commercial mining of coal blocks, putting 106 mines under the hammer. In a statement, the coal ministry said that successful bidders encompass entities such Hindalco Industries Ltd, NTPC Mining Ltd, NLC India Ltd, Shri Bajrang Power & Ispat Limited and Nilkanth Mining Ltd. The mines for which these agreements have been executed are Meenakshi West, North Dhadu (Eastern Part), North Dhadu (Western Part), Pathora East, Pathora West and Sherband. Of the said blocks, four have undergone partial exploration and the other two are fully explored. The estimated total revenue generation annually from these blocks stands at approximately Rs 787.59 crore, based on production at an aggregated peak rate capacity (PRC) level of seven metric tonne per annum .

Aluminium sector surging but hampered by labour shortages: Hindalco

India is already the world's second biggest aluminium producer and third biggest consumer, with demand set to double over the next decade, Nilesh Koul, an executive with Hindalco Industries

Hindalco surges 7% in 2 days on pact with Italian firm to make rail coaches

Meanwhile, Novelis, as subsidiary of Hindalco, expects global demand for aluminum beverage can sheet to grow at a 3 per cent compounded annual growth rate from 2022 to 2031

Hindalco announces tech partnership with Italian firm to make rail coaches

Novelis, Indian firm's subsidiary, secures anchor customer for upcoming US plant

Hindalco brings in Metra to manufacture products for Indian rail coaches

The collaboration between Hindalco Industries Ltd and Metra SpA marks a pivotal move to bring world class technology

Hindalco, Texmaco to make rail wagons, coaches; invest Rs 200 crore

Aditya Birla Group flagship Hindalco Industries, and Texmaco Rail & Engineering on Thursday entered into a strategic alliance and announced a Rs 200 crore investment to develop and manufacture aluminium rail wagons and coaches that will help the Railways achieve emission goals and boost operating efficiency. The companies are identifying land in the Eastern region to set up a manufacturing unit and will invest around Rs 200 crore, Sudipta Mukherjee, the deputy managing director of Hindalco, which is the world's largest aluminium rolling and recycling company, told PTI. He further said, the partners are considering the Eastern region to set to up the plant and hope to commission the same over the next 18-24 months. The Railways has launched 'mission 3,000 mt' with a target of doubling freight capacity to reach 3,000 million tonnes by 2027 by augmenting its rolling stock, and help achieve a 45 per cent market share in freight. To meet this ambitious target, the Railways is seeking ..

Hindalco Q1FY24 results: PAT falls 40% to Rs 2,454 crore, revenue down 9%

The net sales in Hindalco's US unit Novelis, which accounts for over 63 per cent of the company's total revenue, fell about 20 per cent

NTPC, Hindalco, Bajrang Power, Ispat bag coal mines in 7th auction round

NTPC, Hindalco Industries, Bajrang Power and Ispat bagged one mine each during the seventh round of coal auctions. NTPC Ltd bagged the North Dhadu (Eastern Part) coal block in Jharkhand, which has 439 Million Tonnes (MT) of coal reserves, the Ministry of Coal said in a statement on Wednesday. Hindalco Industries bagged the Meenakshi West block in Odisha, which has 950 MT of coal reserves and Bajrang Power and Ispat Ltd won the Pathora East Coal Block in Madhya Pradesh that has 110.40 MT of coal reserves. "Upon operationalisation, these coal mines will generate an annual revenue of Rs 450 crore calculated at PRC (Peak Rate Capacity) of these coal mines (excluding partially explored coal mines). The mines will attract capital investment of Rs 600 crore and will provide employment to 5,408 people," the ministry said.

9 new entrants in Rs 1 trn m-cap club in '23; HAL, Varun Beverages make cut

Hindustan Aeronautics, Varun Beverages among firms to enter

Hindalco recalibrates capex to $4.5 bn from $8 bn, cites challenges

Hindalco's stock closed flat at Rs 403.35 apiece on the BSE on Wednesday

Hindalco Q3 results: Net profit falls 63% on input cost pressure

Novelis' total shipments of flat-rolled products were at 908 Kt (kilo tonnes) in the October-December period, declining 2 per cent from 930 Kt in the corresponding period a year ago

Hindalco PAT drops 63% in December quarter on elevated input costs

Hindalco Industries, the Aditya Birla Group metals flagship, on Thursday posted a 62.9 per cent decline in consolidated profit after tax at Rs 1,362 crore for the quarter ended December 31, 2022 mainly due to elevated input costs, unfavourable macros and inflationary impacts. The company had posted consolidated Profit After Tax (PAT) of Rs 3,675 crore in the year-ago period, Hindalco said in a regulatory filing. "Consolidated PAT in Q3 FY23 was at Rs 1,362 crore compared to Rs 3,675 crore in Q3 FY22, a decline of 63 per cent YoY (Year-on-Year)," the company said in a statement. However, the revenue from operations in the third quarter increased to Rs 53,151 crore, over Rs 50,272 crore a year ago, the filing said. "Though the India aluminium upstream business EBITDA came under pressure from the surge in input costs and lower realisations, this was partially offset by higher volumes. The India aluminium downstream business segment delivered a higher EBITDA YoY, due to higher volumes

Price volatility takes sheen off aluminium firms' capital expenditure

Hindalco's subsidiary Novelis as well as the aluminium division of Vedanta have trimmed guidance by 30-40 per cent for the year

Hindalco Q2 profit falls 36% on high energy costs, lower aluminium prices

Consolidated earnings before interest tax depreciation and amortisation (Ebitda) declined by 29 per cent YoY in Q2 to Rs 5,743 crore on higher input costs