Hindalco reported consolidated Q4 and FY20 results. The company's Utkal Alumina refinery recorded its highest-ever quarterly production of 441,000 tonnes in Q4FY20. Capacity expansion of Utkal of 500, 000 is on track and is expected to be commissioned in Q4FY21.
Hindalco also announced its Muri Alumina refinery re-started operations in December 2019 and is ramping-up production.
Hindalco Aluminium Business (including Utkal Alumina) EBITDA stood at INR 1,039 crore in Q4FY20, up 3 per cent year-on-year. EBITDA margin of 20 per cent in the fourth quarter set an industry benchmark amid a challenging macro environment. Revenue stood at INR 5,284 crore in Q4FY20, down 11 per cent due to low aluminium prices.
Stable operations in the Indian Aluminium Business helped achieve Aluminium metal production of 327,000 tonnes, up 2 per cent year-on-year. Aluminium Metal sales came in at 314,000 in Q4FY20, down 3 per cent year-on-year, due to the lockdown effect.
For the full year, Hindalco reported highest metal sales for Hindalco Aluminium (including Utkal Alumina) at 1.290 million tonnes, from 1.274 million tonnes, up 1 per cent YoY.
“As part of continuous process manufacturing, Hindalco’s four aluminium smelters and the Utkal alumina refinery in India operated at near full capacity during the lockdown. The company’s coal and bauxite mines also operated at regular scale. More than 80 per cent of the total output is being exported to minimise inventory build-up and to absorb plant fixed costs,” the company said.
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