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Aluminum production back in full swing
Edited by : AL CIRCLE
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Hindalco’s Q4FY11 standalone adjusted PAT (profit after tax) declined 3.7% YoY to R6.7 bn; above our estimate of R6 bn due to a lower tax rate and higher other income. Ebitda (earnings before interest, taxes, depreciation and amortisation) of R8.7 bn was broadly in line with our estimate of R9 bn. Reported PAT of R7.08 bn included forex gains of R410m, accounted in other expenditure.
Aluminum production rebounded to 139k tonnes, implying that the smelter has recovered from damage due to power disruption during the monsoons. Extrusion production was hampered due to a lock-out at Alupuram, Kerala unit, since 22 February 2011.
Ebitda from the aluminum segment was R6.6 bn, slightly lower than our estimate of R6.9 bn. The CoP (cost of production) of aluminum was sequentially flat at $1,763/tonne. Extraordinary expense of R1 bn due to pot repair had inflated CoP in Q3FY11. Higher coal costs raised the CoP in Q4FY11
Aluminum production rebounded to 139k tonnes, implying that the smelter has recovered from damage due to power disruption during the monsoons. Extrusion production was hampered due to a lock-out at Alupuram, Kerala unit, since 22 February 2011.
Ebitda from the aluminum segment was R6.6 bn, slightly lower than our estimate of R6.9 bn. The CoP (cost of production) of aluminum was sequentially flat at $1,763/tonne. Extraordinary expense of R1 bn due to pot repair had inflated CoP in Q3FY11. Higher coal costs raised the CoP in Q4FY11
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