Hindalco reports Q4 and FY19 results

2019-05-16

May, 16, 2019 - Hindalco Industries Ltd., a global leader in aluminium and copper, today announced results for the fourth quarter and year ended 31 March 2019. The company recorded its strongest full-year performance with consolidated PAT, PBT and EBITDA at an all-time high. The robust performance amid a challenging business environment was driven by record results by Novelis and the Indian Aluminium Business, and a sustained performance by the Copper Business.

1. Record consolidated PAT at Rs.5,495 crore, up 22 per cent YoY (Rs.4,518 crore in FY18)

2. Record consolidated PBT (before exceptional items) at Rs.8,083 crore, up 24 per cent YoY

3. Record consolidated EBITDA at Rs.16,627 crore, up 11 per cent YoY

4. Record Novelis adjusted EBITDA at US$1,368 million, up 13 per cent YoY

5. Record Novelis adjusted EBITDA per tonne at US$ 418, up 10 per cent YoY

6. Novelis recycling footprint at 61 per cent vs. 57 per cent in FY18

7. Record EBITDA for Hindalco standalone plus Utkal Alumina at Rs.7,532 crore, up 5 per cent YoY

8. Record PAT for Hindalco standalone plus Utkal Alumina at Rs.2,678 crore, up 22 per cent YoY (Rs. 2,197 crore in FY18)

9. Record copper continuous cast rod production at 245 Kt, up 47 per cent YoY

10. Stronger balance sheet, with prepayment of long term loans of Rs.1,575 crore

11. Consolidated net debt to EBITDA stood at 2.48x end March 2019 (2.82x end March 2018)

Consolidated results

Hindalco’s consolidated revenue for FY19 stood at Rs.1,30,542 crore compared to Rs.1,15,820 in FY18. The company delivered its highest ever consolidated EBITDA (Earnings before Interest, Tax, Depreciation and Amortisation) at Rs.16,627 crore, up 11 per cent in FY19 compared to the prior year. This buoyant performance was driven by stable operations, supporting macros and improved efficiencies. Consolidated Profit before Tax (and Before Exceptional Items) for FY19 rose to Rs.8,083 crore, up 24 per cent compared to FY18. Profit After Tax soared to Rs.5,495 crore (Rs.4,518 in FY18), an increase of 22 per cent.

India businesses (Hindalco Standalone Plus Utkal Alumina)

Revenue from operations touched Rs.45,908 crore for FY19. EBITDA was at a record high of Rs.7,532 crore, a 5 per cent increase over the previous year. This spirited performance, despite a sharp rise in input costs, was on the back of stable operations, supporting macros and improved operational efficiencies. Depreciation was higher by 4 per cent due to progressive capitalisation of assets. Interest expense declined 15 per cent YoY primarily due to prepayment of a term loan of Rs.1,575 crore and the re-pricing of long-term project loans. Profit after Tax (PAT) for FY19 leaped to Rs.2,678 crore vs. Rs.2,197 crore in FY18, registering a 22 per cent YoY growth.

In Q4 FY19, revenue from operations stood at Rs.12,455 crore (Rs.11,687 crore in Q4 FY18), up 7 per cent. EBITDA for the quarter was at Rs.1,733 crore (Rs.1,807 crore in Q4 FY18). PAT for Q4 FY19 stood at Rs.506 crore (Rs.616 crore in Q4 FY18), primarily due to weaker macros and higher input costs in the last quarter.