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Hindalco Industries: A Stellar performance - Views on News from Equitymaster
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Hindalco Industries: A Stellar performance
Jun 6, 2016

Hindalco Industries has announced the fourth quarter results of financial year 2015-2016 (4QFY16). While the topline declined by 7.5% YoY, bottomline increased by 123.4% YoY during the quarter.

Performance summary:
  • Income from operations declined by 7.5% YoY during 4QFY16.
  • Operating profit increased by 37.6% YoY and operating margin has increased by 4.4% and stood at 13.5%.
  • Other income declined during this quarter by 11.3% YoY.
  • Net profit accelerated by 123.4% YoY on the back of strong operating performance despite increase in depreciation, finance cost and tax outgo. There was an extraordinary loss during same quarter last year which was not the case this year. This also gave the bottomline a big boost.
  • Net profit for FY16 declined by 34.4% YoY on the back of a flat topline.

    Financial Snapshot (Standalone)
    (Rs m) 4QFY15 4QFY16 Change FY15 FY16 Change
    Total Income 93,716 86,675 -7.5% 345,250 343,177 -0.6%
    Total Expenses 85,238 75,011 -12.0% 311,085 309,995 -0.4%
    Operating profit (EBITDA) 8,478 11,664 37.6% 34,165 33,182 -2.9%
    Operating profit margin (%) 9.0% 13.5% 9.9% 9.7%
    Other income 2,301 2,041 -11.3% 8,822 10,662 20.9%
    Interest 4,663 5,747 23.2% 16,371 23,748 45.1%
    Depreciation 2,377 3,412 43.6% 8,370 12,770 52.6%
    Profit before tax & exceptional items 3,739 4,547 21.6% 18,246 7,326 -59.8%
    Exceptional Item 1,465 5,777
    Tax 678 983 44.9% 3,218 1,254 -61.0%
    Net Profit 1,595 3,563 123.4% 9,252 6,072 -34.4%
    Net profit margin (%) 1.7% 4.1% 2.7% 1.8%
    No. of shares (m) 2,065
    Basic diluted earnings per share (Rs) ^ 2.9
    P/E ratio (x) * 35.9

    * On trailing 12 month basis

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