Hindalco Industries Limited
5,566words
6turns
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Key numbers — 25 extracted
156 million
49%
421 million
25%
9%
20%
4.1 billion
349 million
73 million
2.7x
2.4 billion
1.0 billion
Guidance — 2 items
Ref
opening
“"We expect a steady recovery in shipments to drive continued improvement in Adjusted EBITDA over the remainder of this fiscal year," said Devinder Ahuja, Executive Vice President and Chief Financial Officer, Novelis Inc.”
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opening
“We do not intend, and we disclaim any obligation, to update any forward- looking statements, whether as a result of new information, future events or otherwise.”
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Risks & concerns — 2 flagged
Other important factors are discussed under the captions "Risk Factors" and “Management’s Discussion and Analysis” in our Annual Report on Form 10-K for the fiscal year ended March 31, 2023 and in our Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2023.
— Ref
Other important factors are discussed under the captions "Risk Factors" and “Management’s Discussion and Analysis” in our Annual Report on Form 10-K for the fiscal year ended March 31, 2022 and as the same may be updated from time to time in our quarterly reports on Form 10-Q, or in other reports which we from time to time file with the SEC.
— Special Items
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Opening remarks
Ref
a. Regulation 30 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’) ISIN: INE038A01020 b. ________________________________________________________________________________ Please find enclosed herewith the Press release and Investor Presentation of Novelis Inc. results for Q1 FY24 ending June 30, 2023. The above information is also available on the Company’s website www.hindalco.com Sincerely, for Hindalco Industries Limited Geetika Anand Company Secretary & Compliance Officer Hindalco Industries Limited Corporate Office: 6th & 7th Floor, Birla Centurion, Pandurang Budhkar Marg, Worli, Mumbai – 400030, India | T: +91 22 66626666/62610555 | F: +91 22 62610400/62610500 Registered Office: 21st Floor, One International Center, Tower 4, Near Prabhadevi Railway Station, Senapati Bapat Marg, Prabhadevi, Mumbai – 400013 | W: www.hindalco.com |E: hilinvestors@adityabirla.com | Corporate ID No.: L27020MH1958PLC0112
Investor Contact
Megan Cochard +1 404 760 4170 julie.groover@novelis.adityabirla.com megan.cochard@novelis.adityabirla.com 3 Novelis Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in millions) Net sales Cost of goods sold (exclusive of depreciation and amortization) Selling, general and administrative expenses Depreciation and amortization Interest expense and amortization of debt issuance costs Research and development expenses Restructuring and impairment expenses, net Equity in net income of non-consolidated affiliates Other (income) expenses, net Income from continuing operations before income tax provision Income tax provision Net income from continuing operations Loss from discontinued operations, net of tax Net loss from discontinued operations Net income Net loss attributable to noncontrolling interest Net income attributable to our common shareholder 2022 $ 4,091 $ 5,089 3,501 4,265 174 131 77 25 3 (3) (27) 3,881 210 54 156 — — 156 — 164 138 58 23 1 (4) 50 4,695 394 87 307 (
Current assets
Cash and cash equivalents Accounts receivable, net — third parties (net of allowance for uncollectible accounts of $7 and $5 as of June 30, 2023, and March 31, 2023, respectively) — related parties Inventories Prepaid expenses and other current assets Fair value of derivative instruments Assets held for sale Current assets of discontinued operations Total current assets Property, plant and equipment, net Goodwill Intangible assets, net Investment in and advances to non–consolidated affiliates Deferred income tax assets Other long-term assets — third parties — related parties Total assets LIABILITIES AND SHAREHOLDER’S EQUITY
Current liabilities
Current portion of long-term debt Short-term borrowings Accounts payable — third parties — related parties Fair value of derivative instruments Accrued expenses and other current liabilities Current liabilities of discontinued operations Total current liabilities Long-term debt, net of current portion Deferred income tax liabilities Accrued postretirement benefits Other long-term liabilities Total liabilities Commitments and contingencies Shareholder’s equity Common stock, no par value; unlimited number of shares authorized; 1,000 shares issued and outstanding as of June 30, 2023, and March 31, 2023 Additional paid-in capital Retained earnings Accumulated other comprehensive loss Total equity of our common shareholder Noncontrolling interest Total equity Total liabilities and equity June 30, 2023 March 31, 2023 $ 1,041 $ 1,498 1,949 156 2,876 189 336 3 — 6,550 5,050 1,074 582 887 153 1,751 156 2,729 178 145 3 — 6,460 4,900 1,076 589 877 166 289 2 14,587 $ 293 3 14,364 57 $ 601 88 671 $
Special Items
Metal price lag Restructuring and impairment expenses, net Tax effect on special items 2022 $ 156 $ 307 (5) 3 1 (3) 1 2 Net income from continuing operations, excluding special items $ 155 $ 307 8 Segment Information (unaudited) The following tables present selected segment financial information (in millions, except shipments which are in kilotonnes). Selected Operating Results Three Months Ended June 30, 2023 Adjusted EBITDA North America Europe Asia South America Eliminations and Other Total $ 166 $ 88 $ 87 $ 84 $ (4) $ 421 Shipments (in kt) Rolled products – third party Rolled products – intersegment Total rolled products 370 — 370 245 5 250 153 23 176 111 8 119 — (36) (36) 879 — 879 Selected Operating Results Three Months Ended June 30, 2022 Adjusted EBITDA North America Europe Asia South America Eliminations and Other Total $ 227 $ 84 $ 94 $ 156 $ — $ 561 Shipments (in kt) Rolled products – third party Rolled products – intersegment Total rolled products 386 — 386 265 7 272 164 21
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