The Hindu Business Line
Hindalco consolidated net profit up by 38%
Edited by : AL CIRCLE
2 min read
Hindalco Industries, an Aditya Birla Group company, registered a 38 per cent increase in consolidated net profit at Rs 3,397 crore (Rs 2,456 crore) in FY12. It recorded the highest-ever consolidated revenue of Rs 80,821 crore (Rs 72,202 crore), aided by better product mix and rupee depreciation. The increase in profit was primarily attributed to the better performance of its wholly-owned Canadian subsidiary Novelis and copper business in India.
Novelis recorded five per cent increase in net sales at $11.1 billion (10.6 billion) in FY’12. The company’s adjusted EBITDA crossed $1 billion. It achieved an EBITDA of $371 a tonne.
However, the shipments of aluminium rolled products dropped four per cent to 2,838,000 tonnes (2,969,000 tonnes) in FY12. The dip in shipments was a result of the global economic slowdown and de-stocking by customers.
Sales realization was up despite the drop in production due to favorable conversion premiums across all regions and an increase in average aluminium prices, the company said.
Novelis sold three foil plants in Europe and shut down an aluminium sheet mill in Canada. Novelis plans to invest $100 million into an aluminium automotive heat treatment plant in China. It will have a capacity of 120,000 tonnes per annum and will be operational in 2014.
The expansion of the rolling and recycling capacity in Yeongju, South Korea and Ulsan, South Korea, is expected to go on stream by next year end.
The company expects to complete expansion at its Pinda facility in Brazil by this year end.
Additionally, plans have been announced to install a new coating line for beverage can end-stock and to expand recycling capacity in the Pindamonhangaba, Brazil facility.
Hindalco had earlier announced that its standalone net profit was up five per cent at Rs 2,237 crore (Rs 2,137 crore) in FY12. Net sales rose 12 per cent Rs 26,597 crore (Rs 23,859 crore).
Issue of debentures
The company issued non-convertible debentures of Rs 1,500 crore on private placement.
The debentures, which will be listed on the WDM (wholesale debt market) at the NSE, have a coupon of 9.55 per cent per annum.
The proceeds will be used for general business purposes including capital expenditure, working capital, and debt refinancing, the company said.
Novelis recorded five per cent increase in net sales at $11.1 billion (10.6 billion) in FY’12. The company’s adjusted EBITDA crossed $1 billion. It achieved an EBITDA of $371 a tonne.
However, the shipments of aluminium rolled products dropped four per cent to 2,838,000 tonnes (2,969,000 tonnes) in FY12. The dip in shipments was a result of the global economic slowdown and de-stocking by customers.
Sales realization was up despite the drop in production due to favorable conversion premiums across all regions and an increase in average aluminium prices, the company said.
Novelis sold three foil plants in Europe and shut down an aluminium sheet mill in Canada. Novelis plans to invest $100 million into an aluminium automotive heat treatment plant in China. It will have a capacity of 120,000 tonnes per annum and will be operational in 2014.
The expansion of the rolling and recycling capacity in Yeongju, South Korea and Ulsan, South Korea, is expected to go on stream by next year end.
The company expects to complete expansion at its Pinda facility in Brazil by this year end.
Additionally, plans have been announced to install a new coating line for beverage can end-stock and to expand recycling capacity in the Pindamonhangaba, Brazil facility.
Hindalco had earlier announced that its standalone net profit was up five per cent at Rs 2,237 crore (Rs 2,137 crore) in FY12. Net sales rose 12 per cent Rs 26,597 crore (Rs 23,859 crore).
Issue of debentures
The company issued non-convertible debentures of Rs 1,500 crore on private placement.
The debentures, which will be listed on the WDM (wholesale debt market) at the NSE, have a coupon of 9.55 per cent per annum.
The proceeds will be used for general business purposes including capital expenditure, working capital, and debt refinancing, the company said.
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