Hindalco Industries Ltd

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NSEBSE

522.853.75 (0.72%)

12:00 AM,2nd Mar 2024

522.553.45 (0.66%)

12:00 AM,2nd Mar 2024

BSE : 500440

NSE : HINDALCO

Sector : Metals & Mining

ISIN Code : INE038A01020

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Last Updated: Mar 02 2024 | 12:00 AM IST

Market Cap (₹ Cr)

117494

Turnover (₹ Cr)

3.26

Volume (Shares)

623929

Face Value

1

52-WK High

620.50

52-WK High Date

01 Jan 2024

52-WK Low

381.00

52-WK Low Date

20 Mar 2023

All Time High

636.00

All Time High Date

29 Mar 2022

All Time Low

32.76

All Time Low Date

12 Mar 1999

Hindalco Industries Ltd

Hindalco Industries Limited the metals flagship of the Aditya Birla Group is the world's largest aluminium rolling and recycling company a major copper player and one of Asia's largest producers of primary aluminium. In India Hindalco's aluminium manufacturing units cover the complete value chain from bauxite mining alumina refining coal mining captive power generation and aluminium smelting to downstream value-addition of aluminium rolling extruding and foil making. Hindalco's copper division in India comprises among other facilities a world-class custom copper smelter and captive jetty with capability to manufacture copper rods. Hindalco is one of the largest suppliers of copper to the Indian Railways and meets more than half of the country's copper requirements.Hindalco Industries Limited was incorporated in December 15th 1958. In year 1962 the Company commenced production with an initial capacity of 20000 mtpa of aluminium metal and 40000 mtpa of alumina at Renukoot (Uttar Pradesh). In the year 1965 they commissioned downstream capacities in Rolling and Extrusion Mills at Renukoot. In the year 1968 the Company commissioned Renusagar Power Plant.In the year 1994 the Company made a huge expansion modernisation and diversification programme in their working areas. In the year 1998 foil plant of the company came to existence at Silvassa. Also the company attained ISO 14001 EMS certification during the year. In the year 1999 the company commenced aluminium alloy wheels production at Silvassa. Also they expanded the metal capacity at Renukoot to 242000 tpa. In the year 2000 the company acquired the controlling stake in Indian Aluminium Company Ltd (Indal) with 74.6 per cent equity holding. The company entered 'The Asia Top 25' list of the CFO Asia Annual Report Survey the only Indian company in 2001. In the year 2002 the company commissioned the ninth potline at an outlay of Rs 1 800 crore. They made a major corporate restructuring to create a non-ferrous metals powerhouse. During the year Indo Gulf Corporation Ltd's copper business Birla Copper was amalgamated with the company with effect from April 1 2002. In the year 2003 the company through Aditya Birla Minerals Ltd (ABML) acquired Nifty Copper Mine. Also in November 2003 ABML acquired the Mt Gordon copper mines. The company divested 8.6% holding in Indo Gulf Fertilizers Ltd. Also they made brownfield expansion of aluminium smelter at Renukoot to 345000 tpa.In the year 2004 the company expanded the copper smelter to 250000 tpa. In the year 2005 all business of Indal expect for the Kollu Foil plant in Andhra Pradesh merged with the company. They commissioned copper III expansion taking total capacity to 500000 tpa. Also the company signed a MoU with state governments of Orissa and Jharkhand for setting up Greenfield alumina refining smelting and power plants.In the year 2006 the company made a joint venture with Almex USA for manufacture of high strength aluminium alloys. The company singed an MoU with government of Madhya Pradesh for a Greenfield aluminium smelter in Siddhi. In March 2006 the company acquired an aluminium rolling mill and wire rods facility situated at Mauda (Nagpur) from Asset Reconstruction Company (India) Ltd (ARCIL) belonging to Pennar Aluminium Company Ltd. In May 2006 the company entered into a joint venture with Essar Power (M.P.) Ltd to develop and operate mines at Mahan Madhya Pradesh. In 2007 Hindalco created history in the Indian aluminium industry by acquiring Novelis Inc. a global leader in aluminium rolling and can recycling. In May 2007 Novelis became a subsidiary of Hindalco with the completion of acquisition process. The company acquired Alcon's 45% equity stake in Utkal Alumina project makes the company the 100% project owner. In the year 2008 the company expanded the alumina at Muri.During the year 2009-10 the company completed the Muri Alumina Refinery from 110000 tpa to 450000 tpa. They completed the expansion Hirakud smelter from 143000 tpa to 155000 tpa. In October 5 2009 the company incorporated a wholly-owned subsidiary by the name Mauda Energy Ltd for generation of power to be used captively. During the year 2010-11 the company completed the Smelter expansion at Hirakud from 155 KTPA to 161 KTPA. In March 4 2011 the company dissolved the Indal Exports Ltd. Also A V Aluminium in Canada was merged with Novelis Inc.In 2011 Hindalco refinanced US$4 billion debt to finance its acquisition of Novelis to enable strategic flexibility for growth. Hindalco achieved financial closure of two projects through debt financing in 2011 viz. Utkal Alumina for Rs 4906 crore and Mahan aluminium for Rs 7875 crore.On 10 April 2012 Hindalco's US subsidiary Novelis Inc announced that it had signed an agreement with the Changzhou National Hi-Tech district to build the company's first automotive sheet manufacturing facility in China.On 17 September 2012 Hindalco Industries announced that it had achieved financial closure for its Rs 13195 crore greenfield aluminium smelter project at Lapanga in Odisha. Hindalco's Utkal Alumina Refinery became operational in 2013. The company also commissioned Hirakud Flat Rolled Products plant in 2013.On 11 August 2015 Hindalco Industries announced that credit rating agency CRISIL has downgraded Long-Term rating of the company's bank facilities and Non Convertible Debentures from AA/Negative to AA-/Stable.Hindalco's Mahan Aluminium and Aditya Aluminium smelters and Utkal refinery became operational in 2015. The company acquired the Gare Palma Coal mines in Chhattisgarh and the Kathautia and Dumri Coal mines in Jharkhand through auction in 2015.On 14 September 2016 Novelis Inc. announced the completion of the previously announced offering of $1.5 billion aggregate principal amount of 5.875% senior notes due 2026 by Novelis Corporation an indirect wholly-owned subsidiary of Novelis. Hindalco's greenfield projects - Mahan Aluminium Aditya Aluminium and Utkal Alumina ramped up to full capacity in 2016.Hindalco successfully raised USD 500 million through Qualified Institutional Placement (QIP) in March 2017. There was a strong participation from FIIs and long- only investors generating demand in excess of USD 1.5 billion (3x subscription). The QIP was priced at zero discount to the previous day's closing share price. Accordingly the company Issued and allotted 176827659 equity shares of Re 1 each at the issue price of Rs 189.45 per equity share on 09th March 2017 vide Qualified Institutional Placement.Novelis entered into a joint venture agreement in May 2017 with Kobe Steel Japan to sell 50 per cent of its ownership interest in its Ulsan South Korea facility for USD 315 million. Located in the industrial hub of Korea Novelis' Ulsan facility focuses on the production of rolled aluminum sheet for a variety of markets in Asia. In FY 2017 Hindalco divested Aditya Birla Minerals Limited Australia for Rs 367 crore. With the new coal linkage in FY 2017 coal security improved to over 60 per cent of the annual requirement of Hindalco's domestic aluminium business. In FY 2017 Gare Palma IV/4 Coal Mines and Gare Palma IV/5 Coal Mines reached their peak capacity. The operations at Kathautia Mines commenced in February 2017.During the fiscal year 2018 the company's subsidiary Novelis Inc completed JV to establish Ulsan Aluminium in South Korea by selling approximately 50% its ownership to Kobe Steel for US$ 314 million which have helped to unlock the value. Novelis with its objective to invest in world class assets and technical capabilities to position itself to meet the increasing global demand for aluminium from the Automotive market announced its plans to setup a 200 Kt automotive finishing facility in Guthrie Kentucky US which is expected to be commissioned in CY 2020. Novelis has agreed to acquire the operating facilities and manufacturing assets at its plant in Sierre Switzerland that has been historically leased.Aditya Birla Nuvo Ltd. got amalgamated with Grasim Industries Ltd. Upon amalgamation financial service business got de-merged from Grasim Industries Ltd. and transferred to Aditya Birla Financial Services Ltd. Pursuant to the scheme of amalgamation between Aditya Birla Nuvo Limited (ABNL) and Grasim Industries Limited (Grasim) having record date of 6th July 2017 the Company received 12975618 shares of Grasim in exchange of 8650412 equity shares it held of ABNL as at record date making total equity shares held in Grasim to 28222468. Further pursuant to the scheme of demerger of Aditya Birla Capital Limited (ABCL) (formerly Aditya Birla Financial Services Limited) from Grasim having record date of 20th July 2017 the Company received 39511455 equity shares of ABCL for 28222468 equity shares it held of Grasim as at record date.During the year 2017-18the company spent towards capital expenditure relating to Aluminium and Copper segments amounting to Rs 1388.07 crore and Rs 236.50 crore respectively.The company bagged India Manufacturing Excellence Awards 2017-18 Silver Certificate for Manufacturing Effectiveness-Mahan facility.During the FY2019the company spent capital expenditure relating to Aluminium and Copper segments amounting to Rs 911.75 Crore and Rs 205.98 Crore respectivelyThe company's subsidiary Novelis signed a definitive agreement to purchase Aleris Corp for US $2.6 billion in July 2018. This will strengthen its leadership position in the fastest growing automotive segment thereby enhancing its Asia operations with full metal chain integration in China further diversifying its portfolio with its entry into the aerospace segment. This transaction is expected to close in FY20 post all the pending regulatory approvals.The Board of Directors in their meeting on 09th August 2019 had approved the issuance of Commercial Papers for an amount not exceeding Rs 900 Crore. Further on 22nd November 2019 the Company allotted 18000 securities at Rs 900 Crore issue size maturing on 20th February 2020 on Private Placement.On 14th April 2020 Novelis completed the acquisition of US-Based Aleris Corp. The integration process has commenced while driving synergies and unlock value. Divestment procedures for automotive assets in Lewisport in the US and Duffel in Europe is underway.During the year ended 31/03/2020 capital expenditure relating to Novelis Aluminium Copper and All Other Segments are Rs 4462 Crore Rs 1987 Crore Rs 109 Crore and Rs 32 Crore respectively.The company recognised as Aluminium Industry Leader for its sustainability performance in the 2020 edition of the S&P Dow Jones. In April 2020 Novelis availed short-term loan to the tune of Rs 8363 Crore (USD1.1 billion) for the purpose of funding a portion of the consideration payable in connection with the acquisition of Aleris. This loan has been prepaid in full during the year ended 31 March 2021. On 30 September 2020 the Group has completed the sale of its assets at Duffel Belgium to ALVANCE the international aluminum business of the GFG Alliance at a consideration of Rs 2675 Crore (EURO 310 million as of 30 September 2020). Divestiture of Duffel was a precondition to the acquisition of Aleris as determined by the European Commission and Chinese State Administration for Market Regulation (SAMR). At the transaction date the Group has received Rs 1812 Crore (EURO 210 million) in cash. Both the parties have agreed to a post-closing arbitration process on the remaining Rs 863 Crore (EURO 100 million as of 30 September 2020). On November 8 2020 the Group entered into a definitive agreement with American Industrial Partners (AIP) for the sale of Lewisport which got completed on 30 November 2020. The Company commissioned 500000 tonne Utkal's Alumina refinery brownfield capacity expansion project in FY 2022. It acquired two facilities aluminium extrusions business in Kuppam Andhra Pradesh costing $79 million to enhance capabilities in extrusions and a fabricated solutions and Ryker's 225000 tonne copper rod facility in Gujarat. It increased downstream capacities in the Flat Rolled Products Extrusions and other flat rolled products. It got into two new segments Cu-Mg Alloy rods for railways and Inner Groove Tubes for ACs. In FY2021-22 the business diversified its product offering with multiple new high-tech products for applications into wire and cables refractories and abrasives segments.During the year 2023 the Company commissioned a new line to augment circle blanking capacity by ~8 KTPA and a new degreasing line of 24 KT capacity in Renukoot. It installed manufacturing facility having capacity of 5 KTPA in manufacturing various copper alloy rods including Copper Magnesium. It commissioned a biomass power plant at Belagavi having a 4 MW extraction-cum-back pressure steam turbine 33 TPH boiler 67.0 kg/ cm2 working pressure water tube patented lambion grate technology with heat recovery systems and Electrostatic Precipitator (ESP). It commissioned a Circulating Fluid Bed Scrubber (CFBS) technology based Semi-Dry flue gas desulphurisation (FGD) system at CPP plants in Mahan and Aditya. It introduced the first aluminium rake in FY 2022-23 in Odisha.

Hindalco Industries Ltd - Key Fundamentals

PARAMETER VALUES
Market Cap (₹ Cr)

117494

EPS - TTM (₹) [S]

13.79

P/E Ratio (X) [S]

1.94

Face Value (₹) 1
Latest Dividend (%)300.00
Latest Dividend Date 14 Aug 2023
Dividend Yield (%) 0.57
Book Value Share (₹) [S]269.35
P/B Ratio (₹) [S]1.94
[*C] Consolidated [*S] Standalone

Funds Owing this Stock

Scheme Name Amount Invested ( ₹ Cr ) No Of Shares Net Asset (%)
Canara Robeco Equity Hybrid Fund (IDCW-M) 23.09 450000 0.24
Canara Robeco Equity Hybrid Fund (G) 23.09 450000 0.24
Canara Robeco Equity Hybrid Fund - Direct (IDCW-M) 23.09 450000 0.24
Canara Robeco Equity Hybrid Fund - Direct (G) 23.09 450000 0.24
Aditya Birla SL Regular Savings Fund (G) 7.90 154000 0.56
Aditya Birla SL Regular Savings Fund (IDCW-M) 7.90 154000 0.56
Aditya Birla SL Regular Savings Fund (Payment) 7.90 154000 0.56
Aditya Birla SL Regular Savings Fund-Dir (IDCW-M) 7.90 154000 0.56
Aditya Birla SL Regular Savings Fund-Dir (G) 7.90 154000 0.56
Aditya Birla SL Regular Savings Fund-Dir (Payment) 7.90 154000 0.56

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Research Reports

Date BrokerActionPrices(Rs)Report
13-11-2023Prabhudas Lilladher Buy 482
12-10-2023Prabhudas Lilladher Buy 469
10-02-2023Elara Capital Accumulate 445
09-02-2023ICICI Securities Accumulate 447
15-11-2022ICICI Direct Buy 430

Stock Strength

Today's Low/High

518.00

524.00

Week Low/High

499.00

525.00

Month Low/High

499.00

609.00

Year Low/High

381.00

621.00

All time Low/High

2.58

636.00

Share Price Returns

Period BSENSE SENSEXNIFTY
1 Week0.89%0.87%0.910.75%
1 Month-10.47%-10.39%2.392.40%
3 Month1.08%1.09%9.3710.41%
6 Month10.47%10.48%12.8815.14%
1 Year27.26%27.28%25.2929.19%
3 Year51.44%51.44%46.7450.00%

Company Info

Company Information

Chairman (Non-Executive) : Kumar Mangalam Birla

Non Executive Director : Rajashree Birla

Independent Non Exe. Director : Alka Bharucha

Independent Non Exe. Director : Anant Maheshwari

Non Executive Director : A K Agarwala

Independent Non Exe. Director : K N Bhandari

Executive Director / Whole Tim : Praveen Kumar Mahehswari

Executive Director & MD : Satish Pai

Independent Non Exe. Director : Sudhir Mital

Independent Non Exe. Director : VIKAS BALIA

Independent Non Exe. Director : Y P Dandiwala

Independent Director : Anant Maheshwari

Company Sec. & Compli. Officer : Geetika Anand

Registered Office: Ahura Centre 1st Floor B Wing, Mahakali Caves Road Andheri(E),Mumbai,Maharashtra-400093 Ph: 91-22-66917000

Email:anil.malik@adityabirla.com

URL:http://www.hindalco.com