Hindalco Q2 Review- Near-Term Caution For Novelis; India Business Strengthens; Upgrade To 'Buy' Yes Securities

Yes Securities Report

Hindalco Industries Ltd.’s Q2 FY25 performance was upbeat and above the consensus expectations primarily on account of higher London Metal Exchange pricing for the Indian aluminium business reporting an Ebitda/tonne of $1,349/t up significantly from $ 751/tonne during corresponding period last year.

Net revenue from operations was up by 2.1% QoQ and 7.4% YoY coming in at Rs 582,030 million, with Ebitda up 5% QoQ and 40.5% YoY at Rs 78,830 million.

On the segmental front, the Indian aluminium business remained strong and showed better volumes along with higher realizations. The copper business on the other hand reported its best-ever Ebitda in a quarter of Rs 8,290 million despite seeing a fall in volumes.

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