Hindalco - Q4FY20 First Cut - ICICI Securities

CMP: Rs. 146.1, MCap: Rs. 32818.2 crore

Hindalco India business reported healthy performance for Q4FY20, wherein topline, EBITDA and PAT came in higher than our estimates. Better than expected performance was primarily driven by higher than expected sales volumes.

Q4FY20 Earnings Summary

- The topline for Hindalco's India business stood at Rs. 10014 crore (higher than our estimate of Rs. 9375.2 crore). The Aluminium segment reported 314000 tonnes, higher than our estimate of 300000 tonnes, while the copper segment reported sales volume of 86000 tonnes, higher than our estimate of 80000 tonnes

- EBITDA for Hindalco's India business came in at Rs. 1455 crore (up 4% YoY, 12% QoQ, higher than our estimate of Rs. 1146.3 crore). EBITDA margin came in at 14.5% (up 330 bps YoY, 180 bps QoQ), higher than our estimate of 12.2%

- The ensuing PAT from the India business stood at Rs. 379 crore (up 45% QoQ, higher than our estimate of Rs. 216 crore)

We would be coming out with the detailed report soon.

Shares of HINDALCO INDUSTRIES LTD. was last trading in BSE at Rs.146.1 as compared to the previous close of Rs. 144.45. The total number of shares traded during the day was 557494 in over 4305 trades.

The stock hit an intraday high of Rs. 146.9 and intraday low of 137.1. The net turnover during the day was Rs. 79813940.

Source : Equity Bulls

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