BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Hindalco Industries Ltd.'s Q1 FY21 results surprised with better than expected profitability in aluminum business, driven by fixed cost reduction.
India Ebitda declined 34% QoQ to Rs 8.9 billion on weak London Metal Exchange (LME) and lower copper volumes. With integrated cost of production guided flattish versus Q1 FY21 and improved LME, the outlook is now much better.
We raise our FY21E/FY22E Ebitda estimate by 3%/6% to factor in improved profitability in India operations.
Hindalco remains our top pick in the metals sector on expected deleveraging in FY22E, supported by lower capex and volume growth in Novelis on account of the Aleris Corporation business.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint 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 brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
