Hindalco Industries to focus on global expansion, reduce capex
Real Estate

Hindalco Industries to focus on global expansion, reduce capex

With a strong aluminium demand, Hindalco Industries will be focusing on expanding its global and domestic market by the next quarter. The company has reduced its capital expenditure to Rs 2,400 crore in FY22.

Managing Director of Hindalco Industries, Satish Pai, told the media that the company lost a few months due to the Covid-19 pandemic and ended the CAPEX for FY22 about Rs 300 crore less than planned.

Previously, the Aditya Birla Group acquired Ryker Base Private Limited for an enterprise value of Rs 323 crore. This acquisition will boost Hindalco Industries copper rod manufacturing capacity by providing a time-to-market advantage, allowing the company to cater to the growing demand from the electronics sectors.

The company invested $130 million to upgrade its operations in New York to meet the requirements of sustainable, aluminium flat-rolled products.

Pai said that 2021 would end with a global aluminium deficit of one million tonnes and expected to grow due to high demand from packing, industries and transportation.

The consolidated earnings before taxes, depreciation and amortisation (EBITDA) increased by 56% year-on-year (YoY) to Rs 8,048 crore and 19% sequentially.

Despite the outbreak of the Covid-19 pandemic in Europe and China, the company was not much affected.

Though the Ministry of Mines has tweaked the mining norms, allowing captive ore production for sale, Hindalco Industries will not participate in selling the commodity.

Pai said that the annual consumption of bauxite by the company is about 10 million tonnes, and the company has four smelters, so it will not sell bauxite to third parties. The company also plans to divert some of its ore to the Belgaum smelter, which will require importing the ore.

Its four smelters are in Utkal, Renukoot, Moori and Balgaum. It is involved in the sale of value-added products. The company will continue to sell alumina to Vedanta Limited.

The September quarter was difficult for aluminium producers due to the shortage of coal. Pai added that the company managed to keep stocks for 30 days before the monsoon and escaped the crisis.

Image Source

Also read: Hindalco Q2 results FY22: Net profit surges 788% at Rs 3,417 cr
Also read: Hindalco earmarks $2.5-3 billion capex for next five years
Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

With a strong aluminium demand, Hindalco Industries will be focusing on expanding its global and domestic market by the next quarter. The company has reduced its capital expenditure to Rs 2,400 crore in FY22. Managing Director of Hindalco Industries, Satish Pai, told the media that the company lost a few months due to the Covid-19 pandemic and ended the CAPEX for FY22 about Rs 300 crore less than planned. Previously, the Aditya Birla Group acquired Ryker Base Private Limited for an enterprise value of Rs 323 crore. This acquisition will boost Hindalco Industries copper rod manufacturing capacity by providing a time-to-market advantage, allowing the company to cater to the growing demand from the electronics sectors. The company invested $130 million to upgrade its operations in New York to meet the requirements of sustainable, aluminium flat-rolled products. Pai said that 2021 would end with a global aluminium deficit of one million tonnes and expected to grow due to high demand from packing, industries and transportation. The consolidated earnings before taxes, depreciation and amortisation (EBITDA) increased by 56% year-on-year (YoY) to Rs 8,048 crore and 19% sequentially. Despite the outbreak of the Covid-19 pandemic in Europe and China, the company was not much affected. Though the Ministry of Mines has tweaked the mining norms, allowing captive ore production for sale, Hindalco Industries will not participate in selling the commodity. Pai said that the annual consumption of bauxite by the company is about 10 million tonnes, and the company has four smelters, so it will not sell bauxite to third parties. The company also plans to divert some of its ore to the Belgaum smelter, which will require importing the ore. Its four smelters are in Utkal, Renukoot, Moori and Balgaum. It is involved in the sale of value-added products. The company will continue to sell alumina to Vedanta Limited. The September quarter was difficult for aluminium producers due to the shortage of coal. Pai added that the company managed to keep stocks for 30 days before the monsoon and escaped the crisis. Image Source Also read: Hindalco Q2 results FY22: Net profit surges 788% at Rs 3,417 cr Also read: Hindalco earmarks $2.5-3 billion capex for next five years

Next Story
Real Estate

Colliers India Transacts 207,000 sq ft office space at Embassy TechVillage

Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed an Agreement to Lease (‘ATL’) with global cyber security company Rubrik at Embassy TechVillage in Bengaluru.Colliers, a leading global diversified professional services company, specialising in commercial real estate services, engineering consultancy and investment management facilitated the transaction for Rubrik.Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is one of Embassy REIT’s flagship office parks which offers world-class office spaces, ..

Next Story
Infrastructure Urban

Ensemble Infrastructure India Appoints Suman Saha as Director of Design

Ensemble Infrastructure India Ltd, a leading workplace design and build fit-out company, has appointed Suman Saha as its new Director of Design. With 25 years of experience in the industry, Suman is recognized for his innovative approach and excellence in design leadership.Working closely with the CEO, Suman’s appointment will enhance the company’s design communication across multiple touchpoints, ensuring smooth collaboration between clients, designers, and execution teams for superior project outcomes. Under his guidance, Ensemble will focus on creating workspaces and design labs that em..

Next Story
Products

Ribbon Vanity by Küche7: Fluid Design Meets Everyday Elegance

Küche7, pioneers in luxury stainless steel kitchens, have unveiled the Ribbon Vanity, a graceful creation that transforms bathroom spaces with its soft, flowing design and understated sophistication. Inspired by the fluid form of a ribbon, this vanity combines smooth finishes, clean lines, and gentle curves, offering a timeless aesthetic that seamlessly complements diverse interior styles.Available in a refined blush pink hue, the Ribbon Vanity effortlessly merges functionality with elegance. With thoughtfully designed storage options, it ensures that bathroom essentials are neatly organised ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000