Beat on estimates; outlook bright

27 May 2024
5 Min read 
  • Hindalco's 4QFY24 results show a beat on estimates and a bright outlook.
  •  Consolidated revenue was INR560b, up 6% QoQ.
  •  EBITDA grew 25% YoY/14% QoQ to INR67b.
  •  Aluminum and copper businesses showed strong performance.
  •  Novelis witnessed improvement in profitability.
  •  Reiterate BUY with a revised TP of INR790 based on SOTP valuation.
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