Aditya Birla group flagship company Hindalco is keeping close watch on input prices and has secured around 3.2 million tonnes of coal in the linkage auctions, which makes up 71 per cent of its annual coal requirements, a top company official said.
"We will continue to keep a close watch on input prices. These have a bearing on the cost of production, including that of coal. We will make efforts to mitigate these by utilising its resources well, with better efficiencies across all plant locations," Hindalco chairman Kumar Mangalam Birla told shareholders at the company's annual general meeting (AGM).
Highlighting the coal linkages, Birla said that, "Hindalco has secured around 3.2 million tonnes of coal in the linkage auctions that concluded during FY18. With this, the total quantity of secured coal via linkages to 11.9 million tonne. This accounts for 71 per cent of the annual coal requirements of the company."
Commenting on the company's thrust going forward, Birla added, "The company is focusing on enriching its product mix. It is evaluating investments in aluminium downstream facilities towards newer products and its existing product lines. On the domestic front, demand is expected to recover significantly in FY19."
Disclaimer: No Business Standard Journalist was involved in creation of this content