AL Circle Analysis: From bauxite to trade, how supply risks are reshaping aluminium competitiveness
The aluminium industry is entering a phase where supply security is being tested across the entire value chain. The latest developments show the pressure beginning with bauxite, moving through logistics and alumina, feeding into aluminium prices and producer earnings, and eventually reshaping...
Hindalco’s 8.5Mt Baphlimali mine secures India’s first ASI certification
Hindalco Industries’ Baphlimali bauxite mine in Odisha has become the first bauxite mining operation in India to secure certification under the Aluminium Stewardship Initiative’s (ASI) Performance Standard V3.1 (2023). The certification was awarded to Utkal Alumina International Limited (UAIL), a...
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Hindalco industries to save Rs 150cr from Utkal Alumina refinancing
Hindalco Industries, the manufacturer of non-ferrous metals would save nearly Rs 150 crore of interest payment on annual basis following refinancing of Utkal alumina project, Managing Director, D Bhattacharya told CNBC-TV18. The Aditya Birla group company refinanced Rs 4700 crore loan from State...
Novelis reports weak Q1 earnings
Hindalco Industries fell 3.20% to INR 90.75 at 10:58 IST on BSE after the company's subsidiary Novelis reported weak Q1 earnings on Monday, 12 August 2013. The large -cap company has an equity capital of INR 191.45 crore. Face value per share is INR 1. On a consolidated basis, Novelis' net income...
Hindalco's 1st quarter earning up; to review new investments
Hindalco Industries today reported an 11.61 per cent growth in standalone net profit to INR 474 crore for the first quarter ended June 30, largely due to an increase in other income. The flagship firm of the Aditya Birla group had posted a profit of INR 424.77 crore in the corresponding period of...
Hindalco net profit may fall on lower sales
Hindalco Industries’s net profit for the quarter ended June is estimated to be lower than in the previous quarter, owing to a drop in net sales, brokerages have said. The company’s aluminium volumes are expected to have fallen six per cent quarter-on-quarter because of disruptions at the Hirakud...
Hindalco manages to refinance Rs 4,700 crore for its Utkal alumina project
AdityaBirla Group flagship Hindalco has managed to refinance Rs 4,700 crore from State Bank of India and Axis Bank for its Utkal alumina project. At an interest rate of 10.15% payable over an eight-year period, this will imply a reduction of a whopping 300 basis points from the previous loan....
Utkal Alumina plans to raise up to $335.8 million in bonds
Utkal Alumina International Ltd, a unit of Hindalco Industries, plans to raise up to Rs 20 billion ($335.8 million) via sale of 10-year bonds, said two sources with direct knowledge of the matter. The firm intends to sell floating rate bonds benchmarked to the SBI base rate, which stands at 9.70...
Utkal Alumina closes refinancing for refinery project in Odisha
Hindalco Industries, through its subsidiary Utkal Alumina, has closed a Rp30 billion ($502 million) refinancing for its aluminium refinery project in Odisha, India. The financing, which was lead arranged by SBI and carries a tenor of 8 years, is to replace a Rp49.06 billion project financing, which...
Hindalco appoints Satish Pai as CEO of aluminium business
Aditya Birla Group flagship Hindalco Industries has named Satish Pai as the next chief executive officer of its aluminium business in India, a senior company executive told ET. Pai, 51, executive vice-president at American oil field services major Schlumberger, will take up his new assignment from...
Nalco cuts price; Hindalco, Balco likely to follow suit
National Aluminium Company (Nalco) has cut aluminium prices by around INR 4,000 per tonne for the month of July in line with London Metal Exchange (LME) prices to be effective from July 1. Other aluminium producers such as Hindalco and Balco usually follow the price trend set by the state-owned...
Analysts expect Hindalco to rally past INR 100 mark
Shares of Hindalco Industries moved higher in choppy trade as sentiment turned bullish in the counter after its subsidiary Novelis hiked price of painted aluminium sheet products in Europe. According to reports, the fabrication price will increase by 100 euro per ton for painted products and...
Expanding aluminium sector propels Himadri Chemicals’s investment plans
Himadri Chemicals & Industries (HCIL), India’s largest producer of coal tar pitch, will invest INR 350 crore to meet higher demand arising out of new capacity additions in the aluminium sector and the graphite industry, its main user industries. The company’s main product line, coal tar pitch (CTP)...
AV Birla, Coal India eye Rio Tinto assets
Coal India and Aditya Birla group are among a host of global companies that have shown interest in the assets put on the block by Rio Tinto in Australia. The Anglo-Australian mining giant is selling a 29% stake in its subsidiary Coal & Allied in the New South Wales province and its majority stake...
Hindalco on expansion spree amid weak outlook
In a move aimed at increasing capacities three-fold over the next three years, Hindalco has started the trial run of its 359-tpa (tons per annum) Mahan aluminium smelter and the 1.5-tpa Utkal alumina. The start of the first two planned expansions is sentimentally positive and will add to volumes...
Utkal Alumina refinery goes on stream after two decades
After struggling hard for over two decades, Utkal Alumina International Limited (UAIL), a subsidiary of Hindalco Industries, has finally started trial production from its 1.5 million ton alumina refinery at Doragurah, near Kasipur in Odisha’s Rayagada district. During trial production, the plant is...
Ducon completes eight installations in the alumina handling systems
Ducon Technologies announced that in past 5 years the Company has built up extensive and diversified experience in the Alumina handling systems. Ducon has executed eight alumina and crushed bath projects for major aluminum producers of India. Most of these projects have been turnkey in scope and in...
India's Hind Aluminium net profit rises 72.94% in the March 2013 quarter
Hind Aluminium Industries registered a net profit of 72.94% to USD 0.52 million in the quarter ended March 2013 as against USD 0.30 million during the previous quarter ended March 2012. Sales declined 3.58% to USD 18.40 million in the quarter ended March 2013 as against USD 19.08 million during the...
Hindalco arm starts trial production at alumina refinery in Odisha
Utkal Alumina International, an arm of aluminium maker Hindalco, has just started trial production at its 1.5 million tonne a year alumina refinery in Odisha. The alumina would be the feedstock for two of Aditya Birla group’s upcoming aluminium plants, the 359 kilo tonne a year Mahan aluminium...
Pricing pressure worries Hindalco
The March-quarter results of India's largest aluminium producer, Hindalco were mainly inflated by higher other income and lower tax. While it reported a profit after tax of USD 85.88 million, its operating profit was actually down 26% year on year and shows no signs of revival. Going ahead, the...
