OREANDA-NEWS. June 02, 2011. Hindalco Industries Ltd., the flagship company of the Aditya Birla Group, announced its standalone and consolidated audited financial results for the year ended 31 March 2011, reported the press-centre of Hindalco. 

Consolidated results
Hindalco’s consolidated revenue at Rs. 72,078 crore has been the highest ever, a growth of 19% year-on-year. Strong volumes, improved mix and higher commodity prices have been the growth drivers.

Profit before depreciation, interest and taxes stood at Rs. 8,433 crore as against Rs. 10,069 crore in FY10, which is inclusive of Rs. 2,736 crore (USD 578 million) of unrealised gains on derivatives in FY10, as against unrealised loss of Rs. 291 crore (USD 64 million) in FY11. The underlying performance of the current year sets a new record, reflecting the inherent strength of the company’s low cost business model, operational excellence, superior product mix and a balanced and de-risked portfolio.

Interest expenses increased from Rs. 1,104 crore to Rs. 1,839 crore mainly due to one-time debt issuance cost related to the refinancing of USD 4.8 billion at Novelis in December 2010 and consequent higher interest in Q4. The debt issuance cost was expensed in the year of occurrence in Indian GAAP, unlike in US GAAP, where it is amortised over the life of the debt.

Company outlook
Hindalco is well poised to emerge as “one global metal business” with the India-centric upstream business and the global value-added downstream business.

The company has embarked on an ambitious growth path with an announced investment plan of over USD 6.5 billion in India and overseas in the next three years. With these projects coming on stream, Hindalco is set for a quantum growth leap.