Company continuously reducing debt, FY22 expected to be good for company: Hindalco

The company’s profit in the third quarter of FY 2020 increased from Rs 193 crore to Rs 340 crore on an annual basis. At the same time, the revenue grew by 11 percent to Rs 11,351 crore as against Rs 10,230 crore in the third quarter of last year.

The company’s EBITDA grew by 16.7 per cent to Rs 1,182 crore in the third quarter, while the company’s EBITDA MARGIN stood at 10.4 per cent.

Talking about the company’s results and further growth plans, the company’s MD SATISH PAI says that demand in Q3 has reached the pre-Kovid phase. Demand for both Novelis and Hindalco has improved. Aluminum, copper prices are increasing. The company’s operations have improved. Growth confidence has increased for the next year and the next quarter.

He further said that the demand for Novelis’ Can Products has increased. Demand from the auto sector is also increasing in the US. There is also demand from the real estate sector. Demand in the aerospace sector is still at 50 per cent. Demand will take some time to come back to normal level.

Talking about the merger of Aleris, he said that synergy will increase with the merger of Aleris. Aleris deal is almost complete. The deal is going on in arbitration. About 100 million euros have not yet been received. The arbitration process is expected to last 2 years. There is a better expectation of growth in demand for the company in the next 6 months. FY22 is expected to be good for the company.

Talking about the company’s debt, he said that the company is continuously reducing debt. Will pay $ 500 million loan in the third quarter (Q3). At the same time, you will pay $ 600 million loan in Q4. In both quarters, the total debt would be $ 110 million.

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