BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Hindalco Industries Ltd. reported a strong set of Q1 FY23 earnings, driven by all round beat on Ebitda. Consolidated revenue grew 40% YoY and 4% QoQ to Rs 580 billion during the quarter, 9% ahead of our estimate.
Consolidated Ebitda rose 37% YoY and 15% QoQ to Rs 84 billion. Ebitda was 35% higher than our estimate, driven by beat in the aluminum and copper business. Adjusted Ebitda for Novelis grew 10% YoY and 30% QoQ to $561 million, a 12% beat to our estimate.
Hindalco's adjusted profit after tax grew 41% YoY (flat QoQ) to Rs 41 billion, significantly ahead of our estimate, driven by a sharp beat on Ebitda and aided by higher than estimated other income.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.