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Hindalco: Mettle in numbers

Jan 23, 2004

A V Birla group flagship company, Hindalco, has declared good results for 3QFY04. The topline of the company has grown by 33% YoY. However, due to higher increase in expenditure, the bottomline saw a growth of only around 11%. The operating profit and net profit margins of company also remained on the lower side as compared to same quarter last year.

(Rs m) 3QFY03 3QFY04 Change 9mFY03 9mFY04 Change
Net sales 12,514 16,589 32.6% 36,552 42,893 17.3%
Other income 581 482 -17.0% 1,616 2,160 33.7%
Expenditure 9,493 12,914 36.0% 26,885 32,315 20.2%
Operating profit (EBDITA) 3,021 3,675 21.6% 9,667 10,578 9.4%
Operating profit margin (%) 24.1% 22.2%   26.4% 24.7%  
Interest 331 371 12.1% 987 1,245 26.1%
Depreciation 671 805 20.0% 1,928 2,300 19.3%
Profit before tax 2,600 2,981 14.7% 8,368 9,193 9.9%
Tax 826 1,021 23.6% 2,693 3,026 12.4%
Profit after tax/(loss) 1,774 1,960 10.5% 5,675 6,167 8.7%
Net profit margin (%) 14.2% 11.8%   15.5% 14.4%  
No. of shares (m) 73.7 92.5   73.9 92.5  
Diluted earnings per share (Rs)* 76.7 84.8   102.4 88.9  
P/E ratio (x)   14.5     13.9  
(* annualised)            

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