Tag: hindalco

Hindalco Industries, the metals flagship company of the Aditya Birla Group on Friday reported a 783 percent year-on-year (YoY) rise in consolidated net profit at Rs 3,417 crore, for the September quarter (Q2FY22), when compared with ₹387 crores in the corresponding quarter of last year. On a sequential basis, consolidated PAT increased by 23 percent consolidated revenue for the second quarter stood at Rs 47,665 crore (vs Rs 31,237 crore), up 53% YoY. The revenues in this quarter are up 15 percent against Rs. 41,358 crore was reported in the previous quarter. The company has also posted its all-time high Consolidated EBITDA (Earnings before interest, tax, depreciation, and amortization) at ₹8,048 crores, up 56% year-on-year. Read more

Aditya Birla group firm Hindalco Industries Limited on Monday announced that it plans to invest Rs 730 crore to set up a 34,000-tonne extrusion plant at Silvassa in Dadra and Nagar Haveli union territory. In a regulatory filing, Hindalco said the new plant will service the fast-growing market for extruded aluminium products in the western and southern regions. Hindalco said the aluminium extrusion market in India is expected to grow exponentially – from the current level of around 373,000 tonnes to reach about 850,000 tonnes by 2030. The Silvassa project is a step towards Hindalco’s downstream strategy as the company revives its long-term downstream investment plan and also to build a larger value-added product portfolio over the next few years, it said. "Over the next few years, as part of our downstream strategy, we intend to enhance our capacity from over 300,000 tonnes currently, to more than 600,000 tonnes with investments of around ₹7,000 crores," Pai said. Read more