HINDALCO Announces Quarterly Results (3QFY21); Net Profit Up 76.2%

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HINDALCO Announces Quarterly Results (3QFY21); Net Profit Up 76.2%
Thu, 11 Feb

HINDALCO has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

HINDALCO Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m102,30095,180113,51019.3%11.0%
Other incomeRs m1,3901,6601,85011.4%33.1%
TurnoverRs m103,69096,840115,36019.1%11.3%
ExpensesRs m92,17086,660101,69017.3%10.3%
Gross profitRs m10,0209,40011,13018.4%11.1%
DepreciationRs m4,2804,2704,140-3.0%-3.3%
InterestRs m4,0603,6103,520-2.5%-13.3%
Profit before taxRs m3,0703,1805,32067.3%73.3%
TaxRs m1,1401,2001,92060.0%68.4%
Profit after taxRs m1,9301,9803,40071.7%76.2%
Gross profit margin%9.89.99.8
Effective tax rate%37.137.736.1
Net profit margin%1.92.02.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 11.0% on a year-on-year (YoY) basis. The expenses were up by 10.3% YoY during the same period.
  • The company's operating profit increased by 11.1% YoY during the quarter. Consequently, operating profit margins remained same and stood at 9.8% in 3QFY21.
  • Depreciation charges declined by 3.3% and finance costs declined by 13.3% YoY, respectively.
  • Other income increased by 33.1% YoY during the quarter.
  • Net profit for the quarter increased by 76.2% YoY. Net profit margins during the quarter increased from 1.9% in 3QFY20 to 2.9% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 19.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 17.3% QoQ during the same period.
  • The company's operating profit increased by 18.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.8% in 3QFY21 as against 9.9% in 2QFY20.
  • Net profit for the quarter increased by 71.7% QoQ, while net profit margins increased from 2.0% in 2QFY20 to 2.9% in 3QFY21.

To see how HINDALCO has performed over the last eight quarters,please visit here.

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HINDALCO Share Price Performance

Over the last one year, HINDALCO share price has moved up from Rs 193.6 to Rs 295.0, registering a Gain of Rs 101.4 or around 52.4%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 12,749.4 (up 0.7%). Over the last one year it has moved up from 9,778.8 to 12,749.4, a gain of 2,971 points (up 30.4%).

Overall, the S&P BSE SENSEX is up 25.8% over the year.

Current Valuations

At the current price of Rs 295.0, the price to earnings (P/E) ratio of HINDALCO stands at 80.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.1 times.

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