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Jul 30, 2001
Indal: Buoyed by better realizations
Indian Aluminium Company Ltd. (Indal) has reported its best ever first quarter performance in terms of sales and net profits. Sales of the company have improved by 18% YoY to Rs 3.4 bn while the bottomline has risen by 12% to Rs 287 m.
Although the performance is respectable, the growth has declined as compared to the previous fiscal. In 1QFY01, the company had reported a top and bottomline growth of 27% and 46% respectively. For the full year FY01, turnover and PAT growth was 22% and 38% respectively.
The company has attributed the improved performance to better realization in domestic sales. However, the near term outlook is grim with international aluminium prices declining to $1,400 - $1,450 / tonne. Alumina prices also remain depressed, as demand for aluminium is depressed. Alumina prices are quoting approximately at $135 / tonne. The company expects a revival in the second half of the year boosted by agricultural growth.
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