Hindalco's Novelis Aims To Achieve Sustainable Ebitda/Tonne Of $525/Tonne By Q4 FY24: ICICI Direct

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Direct Report.We attended Hindalco Industries Ltd.’s Investor Day. Following are the key highlights of the meet.Novelis aims to achieve long term sustainable Ebitda/tonne of $525/tonne by Q4 FY24.Hindalco has indicated it is pacing spend on growth capex for both Novelis and Indian operations. Of ~$8 billion capex announced a year ago, the company is prioritising ~$4.4 billion capex projects, which are already under way while the balance is being classified under the bucket - identified future growth opportunities. The company did indicate that balance growth projects have been deferred and not cancelled.At Novelis, Hindalco plans to spend ~$3.3 billion over FY24-28 while they have deferred ~$1.5–1.8 billion worth of projects.For Indian operations, Hindalco plans to spend ~$1.13 billion over FY24- 28 while it has deferred ~$2.32 billion worth of projects..Click on the attachment to read the full report:.Hindalco - Increase In Capacity, Value-Added Downstream Products To Drive Performance: Motilal Oswal.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Hindalco's Novelis Aims To Achieve Sustainable Ebitda/Tonne Of $525/Tonne By Q4 FY24: ICICI Direct

Going forward, we expect Hindalco to report consolidated Ebitda margin of 11.3% for FY23E and 11.2% for FY24E.

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Hindalco's Novelis Aims To Achieve Sustainable Ebitda/Tonne Of $525/Tonne By Q4 FY24: ICICI Direct

Going forward, we expect Hindalco to report consolidated Ebitda margin of 11.3% for FY23E and 11.2% for FY24E.

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