Hindalco Industries (HINDALCO) Q1 24/25 earnings summary

Executive summary

• Q1 FY25 saw strong consolidated performance with revenue up 8% YoY to ₹57,013 crore, EBITDA up 31% YoY to ₹7,992 crore, and net profit up 25% YoY to ₹3,074 crore, driven by robust Novelis, Aluminum, and record Copper results.

• Major ESG progress included 97% waste recycling, 24% water recycling, and renewable energy capacity reaching 173 MW.

• Strategic downstream and upstream expansion projects are progressing, with a focus on capacity growth and sustainability.

• Board approved unaudited standalone and consolidated financial results for Q1 FY25 and appointed four new directors and a CFO-designate.

• Novelis Sierre plant in Switzerland faced severe flooding, halting operations and resulting in impairment and inventory write-downs.

Financial highlights

• Consolidated segment EBITDA up 42% YoY to INR 8,578 crore; reported EBITDA up 31% YoY to INR 7,992 crore; consolidated net profit after tax up 25% YoY to INR 3,074 crore.

• Novelis EBITDA at $500 million, up 19% YoY; shipments up 8% YoY to 951 KT; EBITDA per ton up 10% YoY to $525.

• India business (ex-Novelis) EBITDA up 55% YoY to INR 3,840 crore; net profit up 102% YoY to INR 1,957 crore.

• Copper business EBITDA at all-time high of INR 805 crore, up 52% YoY; copper shipments up 1% YoY.

• EPS for Q1 FY25 at ₹13.84, up from ₹11.05 YoY.

Outlook and guidance

• Downstream aluminum EBITDA per ton expected to rebound in Q2 after a temporary dip due to product mix.

• Steady progress on major expansion projects, with downstream capacity to reach 600 KT and new upstream projects in pipeline.

• CapEx for India guided at INR 5,500–6,000 crore for FY25; Novelis CapEx expected at $1.8 billion for the year.

• Renewable energy target of 300 MW by H1 CY25, with 57% already achieved.

• Novelis Sierre plant restoration is ongoing, with further loss estimates and insurance claims to be refined in future periods.