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7h ago

Hindalco Posts 21% Q2 Profit Rise on India Strength as It Plans Rs 10,225 Crore Odisha Expansion

Tariff pressure at Novelis triggers mitigation moves, with Bay Minette engineering complete and execution progressing.

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Satish Pai, Managing Director of Hindalco, said the company's performance was driven by disciplined cost management and operational efficiency.
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Overview

  • Hindalco reported consolidated revenue of Rs 66,058 crore and EBITDA of Rs 9,684 crore for July–September, with both measures rising year on year.
  • India aluminium upstream EBITDA rose 22% to Rs 4,524 crore with industry-best margins near 45%, and downstream EBITDA hit a record Rs 261 crore, up 69%.
  • The company approved expanding Aditya Aluminium in Sambalpur, Odisha, raising capacity to 563 KT by FY2029 through a Rs 10,225 crore investment.
  • Novelis shipments were broadly flat at 941 KT as adjusted EBITDA fell 9% to $422 million, including a quantified $54 million hit from US tariffs, with production shifting toward the US and cost-savings programs underway.
  • Management said the Bay Minette project carries a total estimated cost of $5 billion with engineering 100% complete, and noted the Oswego hot mill restart targeted for December 2025.