HINDALCO · Metals & Mining
Hindalco Industries Ltd. reported revenue of ₹52,808 cr for October to December 2023, — on the year and −2.5% on the quarter.
Operating profit (EBITDA) was ₹5,865 cr, a margin of 11.1%, — on the year and +75 bps on the quarter.
Net profit was ₹2,331 cr, — on the year and +6.1% on the quarter, with earnings per share of ₹10.37.
Metal margins move with the spread between product prices and coal and ore costs, so large quarterly swings are normal here and say more about prices than about the business. The quarterly statements do not carry volumes, realisation per tonne and the cost of coal and ore; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹52,808 cr | ₹55,994 cr | ₹57,013 cr | ₹58,203 cr | ₹58,390 cr | ₹64,890 cr | ₹64,232 cr | ₹66,058 cr | ₹66,521 cr | ₹78,133 cr | ₹84,825 cr | ₹91,708 cr |
| YoY | — | — | +8% | +7% | +11% | +16% | +13% | +13% | +14% | +20% | +32% | +39% |
| EBITDA margin | 11.1% | 11.9% | 13.2% | 13.5% | 13.0% | 13.6% | 12.3% | 13.6% | 12.0% | 12.8% | 16.4% | 14.0% |
| Other income, % of PBT | 8% | 9% | 2% | 10% | 9% | 11% | 11% | 11% | −73% | −91% | 11% | 9% |
| Exceptional items | — | — | — | — | — | — | — | −₹182 cr | — | — | −₹2,299 cr | ₹284 cr |
| Tax rate | 30% | 23% | 37% | 31% | 29% | 19% | 29% | 28% | 28% | 25% | 25% | 29% |
| Net profit | ₹2,331 cr | ₹3,174 cr | ₹3,074 cr | ₹3,909 cr | ₹3,735 cr | ₹5,284 cr | ₹4,004 cr | ₹4,741 cr | ₹2,049 cr | ₹2,597 cr | ₹7,013 cr | ₹7,533 cr |
| YoY | — | — | +25% | +78% | +60% | +66% | +30% | +21% | −45% | −51% | +75% | +59% |
| Core profit YoY | — | — | +62% | +86% | +58% | +55% | +7% | +18% | +1% | +13% | +110% | +56% |
| EPS | ₹10.37 | ₹14.12 | ₹13.68 | ₹17.39 | ₹16.62 | ₹23.51 | ₹17.82 | ₹21.35 | ₹9.12 | ₹11.56 | ₹31.58 | ₹33.93 |
| Flags | · | · | ✓ | ✓ | ✓ | 1 | 1 | ✓ | ✓ | ✓ | 1 | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Hindalco Industries Ltd. reported revenue of ₹52,808 cr (— on the year) and net profit of ₹2,331 cr (— on the year) for October to December 2023.
None of the 2 checks that could run raised a question.
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