Hindalco Q2 results and house views

Описание: Hindalco Q2 results came in with Revenue, EBITDA and PAT beating estimates. Revenue grew 82% YOY to Rs 17,290 crore with EBITDA jumped over 3x YOY to Rs 3038 crores and PAT growing 8x YOY to 1608 crore. Aluminium EBITDA margin at 42% which came in at the highest in a decade. CLSA and Credit Suisse have a buy rating on the stock with up to 40% returns projected. The net debt for the company has come down from 2.6 times to 1.93 times QOQ which will continue to aid the company’s earnings going forward. Strong results from Novelis also helped the company.
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