Financial Services

Aditya Birla Capital Limited (ABCL)

Chemicals

Aditya Birla Chemicals (Thailand) (ABCTL)

Fashion

Aditya Birla Fashion and Retail Limited (ABFRL)

Aditya Birla Sun Life AMC Limited (ABSLAMC)

Carbon Black

Birla Carbon

Cellulosic Fibre

Textiles

Grasim Industries Limited

Metals

Hindalco Industries Limited

Novelis Inc

Cement

UltraTech Cement Limited

Telecom

Vodafone Idea Limited (Vi)

Grasim Industries Limited is the flagship company of Aditya Birla Group. It started as a textiles manufacturer in India in 1947. Today, it has evolved into a leading diversified player with leadership presence across many sectors. It is a leading global producer of Viscose, Diversified Chemicals, Linen Yarn and Fabrics producer in India.&nbsp;The company recently has entered paints business under the brand name ‘Birla Opus’ and would be setting up six plants of manufacturing decorative paints across Pan India locations.&nbsp;Leveraging the Group synergies, Grasim has launched “Birla Pivot”, the B2B online marketplace for building materials. Through its subsidiaries, UltraTech Cement, Aditya Birla Capital and Aditya Birla Renewables, it is also India’s prominent cement producer, leading diversified financial services player and clean energy solutions player.&nbsp;<h3>Grasim has a strong presence in the market through following businesses:</h3>Viscose Staple FibreGrasim is India's pioneer in VSF — a man-made, bio-degradable fibre that is fast emerging as a sustainable alternative to cotton. A versatile fibre, VSF is used in apparel, home textiles, dress materials, knit wears and non-woven applications. Grasim’s business, Birla Cellulose, has a range of fibres which can be used in their original form, or can be blended with all natural and synthetic fibres for enhanced comfort and feel.Starting production in 1954 at Grasim’s Nagda facility, the business has grown steadily over seven decades. The Pulp &amp; Fibre Business of Grasim derives its competitive edge from its integrated business model, with captive raw materials - dissolving grade wood pulp, caustic soda, carbon-disulphide, power generation and steam.Birla Cellulose’s product portfolio includes Livaeco™ by Birla Cellulose, Birla Modal™, Birla Excel™, Birla Viscose™ and Birla Spunshades™. Birla Cellulose fibres are of natural origin, moisture absorbent, have soft feel, and are completely biodegradable.&nbsp;Viscose Filament YarnGrasim Industries Limited is the largest viscose filament yarn (VFY) manufacturer in India and the 3rd largest globally. The company is also the largest VFY exporter in India with exports to 45 countries.VFY business became a part of Grasim Industries Limited on 1st July 2017, following the merger of Aditya Birla Nuvo Limited. Subsequently, Grasim acquired the rights to operate and manage the Century Rayon division of Century Textiles and Industries Limited (CTIL) from 1st February 2018. Since then, Grasim’s VFY production capacity has increased to 48 KTPA.Represented as the brand Raysil® (formerly known as RayOne), VFY is of 100% natural origin and its product portfolio includes 20 deniers to 1200 deniers of both bright and dope dyed viscose filament yarns. Its versatility, superior drape, fluidity and lustre make it a popular choice for manufacturing fabrics such as georgettes, crepes, chiffons, and many more.Grasim’s VFY is manufactured at its twin locations in Shahad, Maharashtra and Veraval, Gujarat.&nbsp;ChemicalsIn 1972, Grasim’s chemicals business was set up to manufacture caustic soda for the company’s VSF unit. Today, it is one of India’s largest caustic soda producers and is a market leader in the chlor-alkali segment. &nbsp;Over the years, Grasim’s chemicals business has created a strong foothold in the industry and offers a wide range of products from chlorine derivatives to epoxy.Chlor-alkali: In 2016, Grasim’s merger with Aditya Birla Chemicals India Ltd. (ABCIL) helped catapult the company’s caustic soda capacity from 452 KTPA to 884 KTPA making it the largest producer of caustic soda in India back then. Today, Grasim’s total caustic soda capacity is 1,290 KTPA. Through brownfield expansion, Grasim plans to expand the caustic soda capacity to 1,530 KTPA from 1,290 KTPA by 2024.The business uses cost-effective membrane cell technology and is largely self-sufficient in power. For gainful utilisation of chlorine, the business has portfolio of chlorine derivatives like Stable Bleaching Powder (SBP), Polyaluminium Chloride (PAC), Chlorosulphonic Acid (CSA), Chlorinated Paraffin Wax (CPW), Calcium Chloride (CaCl), Aluminium Chloride (AlCl) and Chloromethane (CMS).Epoxy: The business’ epoxy products range from basic products like liquid epoxy resins to value added products like formulated resins, reactive diluents and hardeners. The manufacturing complex at Vilayat houses a 123 KTPA capacity epoxy plant. Through expansion, Grasim plans to double the epoxy capacity to 246 KTPA by FY2024.&nbsp;TextilesGrasim ventured into the textiles industry in 1949 by setting up Jaya Shree Textiles at Rishra, West Bengal. Today, Jaya Shree Textiles is one of India’s leading linen and wool manufacturers. It has four strategic business units (SBUs) i.e., linen spinning, linen fabric, wool combing and worsted spinning. Today, Jaya Shree Textiles sells its products in over 50 countries, spanning across six continents.Jaya Shree Textiles has provided the evolving Indian fashion industry with an international edge. Finest flax is sourced from France, Belgium and other parts of Europe to make 100% pure linen. Cutting edge European technology is used to spin the fibres, weave and dye them which makes it unique and difficult to replicate. This superior technology also enables Jaya Shree Textiles to manufacture over 3000 different types of weaves, textures and blends. The company has significantly revolutionised the Indian textile market by popularising linen in India across a wide customer base with its brand ‘Linen Club’.Linen Club is the largest linen fabric brand in India with expertise in linen manufacturing and design, for more than 70 years. Linen Club is the pioneer of linen in India and is now retailed through both exclusive retail outlets and multi-brand outlets. It is the largest linen retail chain in the world.&nbsp;Know more about <a href="/businesses/brands/linen-club/">Linen Club</a>&nbsp;InsulatorsAditya Birla Insulators is India’s largest manufacturer of electrical insulators and is amongst the top four insulator manufacturers globally. It produces the widest range of insulators in India including insulators for transmission lines &amp; substations up to 1200 kV voltage level, as well as equipment &amp; railways. Its total installed manufacturing capacity is 56,400 TPA with specialisation in both ceramic and composite insulators. The company commissioned Composite Hallow Core Insulators (CHCI) plant at Halol which is a joint venture between Aditya Birla Power Composites Limited (ABPCL) with Maschinenfabrik Reinhausen GmbH of Germany in 2019.Know more about <a href="/businesses/companies/aditya-birla-insulators/">Aditya Birla Insulators</a> and <a href="/businesses/companies/aditya-birla-power-composites-limited-abpcl/">Aditya Birla Power Composites Limited</a>&nbsp;PaintsThrough Birla Opus, Grasim aims to be one of the biggest players in the fast-growing decorative paints industry. It plans to set up six manufacturing plants in Haryana, Punjab, Karnataka, Tamil Nadu, Maharashtra, and West Bengal till FY 2025 with a total capacity of 1,332 MLPA and a project cost of ₹10,000 Crore.The trial run for Birla Opus’s three plants began in the third quarter of FY23-24. It’s painting service, branded as PaintCraft, had completed projects at more than 150 sites by December 2023.&nbsp;&nbsp;B2B E-CommerceBirla Pivot, the B2B e-Commerce platform for building solutions, is a business unit of Grasim Industries Ltd. Birla Pivot will primarily focus on MSMEs in the Building Materials segment with the potential to further extend to other relevant categories. It’s key value proposition is an integrated procurement solution including on-time delivery and a superior product range at competitive pricing.&nbsp;Covering a spectrum of building materials, Birla Pivot aims to become a one-stop destination for all procurement needs. Birla Pivot has already onboarded over 120 brands and 5500+ SKUs (stock keeping units), providing its customers with a diverse range of categories &amp; products. These categories are steel, cement, tiles &amp; surfaces, ply &amp; laminates, doors, windows, sanitary &amp; bath fitting, among others. The platform is rapidly launching across North, West &amp; South India.

<figure class="table"><table><tbody><tr><td style="text-align:center;">KEY HIGHLIGHTS – Q2FY25</td></tr><tr><td><ul><li>Revenue: Consolidated revenue stood at ₹33,563 Cr., up 11% YoY; TTM revenue at ₹1,37,116 Cr.</li><li>Cement: Added new grey cement capacity of 9.9 Mn TPA (in current FY till Oct’24), taking total grey cement capacity (domestic + overseas) to 156.1 Mn TPA</li><li>Birla Opus: Production ramping up at three plants commissioned in Q1FY25 and trial run commenced at Chamarajanagar and Mahad</li><li>Financial Services: Total Lending Portfolio* stood at ₹1,37,946 Cr., up 27% YoY</li><li>Cellulosic Staple Fibre: Highest ever quarterly sales volumes at 219 KT</li><li>Chemicals: Improved profitability in Chlorine Derivatives and Specialty Chemicals*Lending Portfolio (NBFC + HFC)</li></ul></td></tr></tbody></table></figure><a href="/businesses/companies/grasim-industries-limited/">Grasim Industries Limited</a> today announced its financial results for the quarter ended 30th September 2024 (Q2FY25). Consolidated revenue stood at ₹33,563 Cr., up by 11% YoY, driven by the superior performance of <a href="/businesses/sectors/financial-services/">Financial Services</a>, Cellulosic Staple Fibre and Specialty Chemicals businesses. Consolidated EBITDA declined by 10% at ₹4,042 Cr., as a result of lower profitability in the Cement business and initial investments in the Paints business under brand ‘<a href="/businesses/companies/birla-opus/">Birla Opus</a>’. The results are in line with our plan to build a strong consumer-facing business. Further, higher interest and depreciation charges on account of investments in the Building Materials and Renewables businesses has led to lower PAT.&nbsp;<h3 style="text-align:center;">CONSOLIDATED FINANCIAL RESULTS&nbsp; (₹ Cr.)</h3><figure class="table" style="width:98.67%;"><table class="ck-table-resized" style="border-style:solid;"><colgroup><col style="width:13.5%;"><col style="width:13.5%;"><col style="width:13.5%;"><col style="width:13.5%;"><col style="width:13.5%;"><col style="width:13.5%;"><col style="width:19%;"></colgroup><tbody><tr><td style="text-align:center;width:100%;">H1FY25</td><td style="text-align:center;width:100%;">H1FY24</td><td style="text-align:center;width:100%;">YoY&nbsp;</td><td style="text-align:center;width:100%;">&nbsp;</td><td style="text-align:center;width:100%;">Q2FY25</td><td style="text-align:center;width:100%;">Q2FY24</td><td style="text-align:center;width:100%;">YoY</td></tr><tr><td style="text-align:center;width:100%;">67,424</td><td style="text-align:center;width:100%;">61,286</td><td style="text-align:center;width:100%;">10%</td><td style="text-align:center;width:100%;">Revenue</td><td style="text-align:center;width:100%;">33,563</td><td style="text-align:center;width:100%;">30,221</td><td style="text-align:center;width:100%;">11%</td></tr><tr><td style="text-align:center;width:100%;">8,802</td><td style="text-align:center;width:100%;">9,490</td><td style="text-align:center;width:100%;">(7%)</td><td style="text-align:center;width:100%;">EBITDA</td><td style="text-align:center;width:100%;">4,042</td><td style="text-align:center;width:100%;">4,509</td><td style="text-align:center;width:100%;">(10%)</td></tr><tr><td style="text-align:center;width:100%;">1,662</td><td style="text-align:center;width:100%;">2,740</td><td style="text-align:center;width:100%;">(39%)</td><td style="text-align:center;width:100%;">PAT^</td><td style="text-align:center;width:100%;">473</td><td style="text-align:center;width:100%;">1,164</td><td style="text-align:center;width:100%;">(59%)</td></tr></tbody></table></figure>^owner’s share of PAT excluding exceptional items.&nbsp;&nbsp;<h3>Cellulosic Fibres (Cellulosic Staple Fibre - CSF and Cellulosic Fashion Yarn - CFY)</h3>China operating rates averaged at 86% in Q2FY25, higher compared to 82% in Q1FY25. Additionally, inventory levels reached its lowest levels of 8 days. Improving demand scenario in China has led to the third consecutive quarter of price improvement in CSF prices from an average of $1.51/kg in Q3FY24 to $1.65/kg in Q2FY25.CSF business achieved its highest ever quarterly sales volume at 219 KT up 4% YoY led by stable domestic demand. EBITDA Margins improved on the back of higher sales volume and improving trend in global prices. Volume growth in CFY business was driven by festive demand, however realisation remains under pressure due to Chinese producers’ aggressive pricing for the Indian markets. Cellulosic Fibres segment reported revenue of ₹4,125 Cr. and EBITDA of ₹494 Cr., marking a YoY increase of 6% each.&nbsp;<h3>Chemicals (Chlor-Alkali, Chlorine Derivatives and Specialty Chemicals)</h3>Caustic Soda international average spot prices (CFR-SEA) recovered for the fifth consecutive quarter to $471/ton in Q2FY25, up 13% YoY. Domestic realisations also improved, however ECU realisations declined by 4% YoY to ₹30,650/ton mainly due to increased negative chlorine realisations on account of continued oversupply conditions.The Chemicals business revenue stood at ₹2,054 Cr., up 3% YoY. Caustic soda sales volume was down by 4% YoY due to lower production on account of maintenance shutdown of the captive power plant at Vilayat. EBITDA for the Chemicals segment stood at ₹273 Cr. up by 16% YoY driven by higher profitability in Chlorine Derivatives and Specialty Chemicals businesses.&nbsp;<h3>Building Materials (Cement, Paints and B2B E-commerce)</h3>Building Materials segment reported revenue of ₹16,683 Cr., up 3% YoY driven by Paints and B2B E-Commerce businesses. EBITDA stood at ₹1,886 Cr., down 28% YoY, mainly due to lower realisations in cement business and initial investments in building a consumer facing brand ‘Birla Opus’ in the Indian decorative paints market.Consolidated sales volumes of the Cement business (UltraTech) were up by 4% YoY to 27.84 MT and ready-mix concrete sales volumes grew by 19% YoY to 3.01 Mn m3. UltraTech Building Solutions (UBS) outlets increased to 4,236, contributing 19.4% of total sales. During the year, UltraTech added 9.9 Mn TPA of grey cement capacity (till Oct’24) with a target to reach total grey cement capacity of 162.4 Mn TPA in FY25.In the paints business (Birla Opus), production is steadily ramping at its three plants - Ludhiana, Panipat and Cheyyar commissioned in Q1 of this financial year. Trial production has started at Chamarajanagar and Mahad plants. The new advertisement campaign ‘Naye Zamane ka Naya Paint’ was launched across print, TV, digital and outdoor channels after the successful launch of the first media campaign ‘Make life Beautiful’. The new advertisement campaign focuses on innovative features and superior product quality across interior, exterior &amp; waterproofing paints by ‘Birla Opus’. The product availability has increased to 129 products with 900+ SKUs already placed in the distribution channel. The product reach has increased to 4,300+ towns being serviced from 114 depots operational across India. The product quality is garnering excellent feedback and good demand is witnessed from contractors and consumers at the dealers’ network leading to increase in counter share. The total Capex for the business is ~₹8,470 Cr. till September 2024, ~85% of the planned Capex outlay.Birla Pivot, the B2B E-Commerce business revenue continues to grow in-line with the plan and remains on track to achieve revenue of $1 billion in three years as announced in FY24. The business has expanded its product offerings across 35 product categories comprising 40,000+ SKUs sourced from 300+ Indian and International brands. Birla Pivot continues to expand its geographical reach with delivery to 375 cities across 26 states and union territories.&nbsp;&nbsp;<h3>Financial Services</h3>Revenue and EBITDA of the financial Services business (Aditya Birla Capital), as consolidated in accordance with Ind AS, stood at ₹10,252 Cr. and ₹1,280 Cr., registering growth of 33% and 25%, respectively. The overall lending portfolio (NBFC and HFC) increased by 27% YoY to ₹1,37,946 Cr. The total AUM (AMC, life insurance and health insurance) crossed the milestone of ₹5,00,000 Cr., with a growth of 24% YoY. The business continues to focus on leveraging technology to provide customers an omni-channel experience. During the quarter, the D2C platform, ABCD (Aditya Birla Capital Digital), introduced new products such as digigold gifting, family health scan, gold loan and pocket insurance. ABCD application manages +2.5 mn customers as of Oct’24. Udyog Plus, the channel addressing the needs of MSMEs, continues to scale up well with 16 lakh+ registrations and a total AUM of ~₹2,900 Cr.&nbsp;<h3>Other Businesses (Textiles, Renewables and Insulators)</h3>Revenue from other businesses stood at ₹778 Cr. and EBITDA stood at ₹45 Cr. In Renewable business cumulative installed capacity crossed milestone of 1 GW, up 21% from 894 MW in Mar’24.&nbsp;&nbsp;<h3>Capital Expenditure</h3>Capital expenditure for H1FY25 stood at ₹1,884 Cr. The budgeted standalone capex for FY25 is ₹4,691 Cr., of which ~₹3,000 Cr., is towards new growth businesses. Additionally, the Board has approved an investment of ₹287 Cr. (₹118 Cr. to be spend in FY25) for additional pulp capacity at Harihar and ₹20 Cr. for Textiles business.&nbsp;<h3>Sustainability</h3>For FY24, Grasim has achieved its highest ever S&amp;P Global ESG Score of 71 by Dow Jones Sustainability Index (DJSI), recognising our sustainability initiatives. The Company remains committed to increase the adoption of renewable energy and water recycling across manufacturing units. On a standalone basis, the proportion of recycled water consumption to freshwater consumption improved to 52%. The share of renewable power consumption on Standalone Businesses stood at 11%.&nbsp;<h3>Outlook</h3>Grasim Industries Limited with its significant presence across businesses is well positioned to capitalise on the opportunities in diverse sectors of the fast-growing Indian economy. The Government’s continued focus on infrastructure &amp; housing, manufacturing, financialisation and thrust on increasing economic prosperity of the large section of people augurs well for the Company.

Grasim Industries Q2FY25 Results: Consolidated Revenue up by 11%

Hindalco Industries Limited is the metals flagship company of Aditya Birla Group. It is one of Asia’s largest producers of primary aluminium (excluding China), and with its subsidiary Novelis, a global leader in flat rolled products and the world’s largest recycler of aluminium.In India, Hindalco is the largest aluminium downstream player providing customised solutions in flat rolled products and extruded aluminium solutions.Hindalco is India’s largest copper producer, contributing significantly to India’s domestic refined copper requirements. Its copper facility in India comprises a world-class copper smelter, downstream facilities, and a captive jetty.Hindalco operates across the value chain, from bauxite mining, alumina refining, coal mining, captive power plants, and aluminium smelting to downstream rolling, extrusions, and foils. It serves key sectors such as aerospace and defence, building and construction, electricals, and electronics, automotive and transport, beverage packaging, consumer durables and kitchenware, pharmaceuticals and food packaging, EV and renewables, refractories, and ceramics.Hindalco’s global footprint spans 52 manufacturing units across 10 countries-20 plants in India, and 32 overseas units. Hindalco also operates 23 mines. With a cross-cultural workforce of more than 68,500 people, it remains committed to building an agile, responsive, and productive work environment in line with our strategic priorities of value enhancing growth and strong ESG commitment. &nbsp;<h3>Products</h3>Aluminium<ul><li>Primary aluminium</li><li>Aluminium value added.</li><li>Flat Rolled Products (FRP)</li><li>Extrusions</li><li>Foils and packaging solutions</li><li>Metallurgical alumina &nbsp;</li></ul>Copper<ul><li>Cathodes</li><li>Continuous Cast Rods (CCR)</li><li>Gold and silver</li><li>By-products</li><li>Di-Ammonium Phosphate (DAP)</li><li>Sulphuric acid &nbsp;</li></ul>Chemicals<ul><li>Calcined alumina</li><li>Alumina hydrate</li><li>Sustainability</li></ul> Guided by its purpose of building a Greener, Stronger, Smarter world, Hindalco has made sustainability the backbone of its operations and strategy. Some key initiatives include global-first circular economy solutions that utilise bauxite residue as an industry input rather than waste and pioneering responsible mining through developing India’s first Sustainable Mining Charter. Initiatives for carbon neutrality, water positivity, biodiversity, and zero waste to landfill have contributed to Hindalco being recognised as the world’s most sustainable aluminium company by the Dow Jones Sustainability Indices in 2020 and 2021.&nbsp; Hindalco drives R&amp;D in aluminium solutions because these can play a big role in delivering climate action and sustainable decarbonisation for the nation. We innovated India’s first aluminium trailer, bulker, and bus which can save up to 300 tonnes of carbon per vehicle over their lifetime. We are building new-age rail and transport solutions for freight and passenger transport. We are creating an Aluminium-Air battery that does not require a charging infrastructure.

Consolidated PAT at ₹3,909 crore up 78%; India business PAT at ₹2,850 crore, up 135%&nbsp;<h3>Key Highlights of Q2 FY25 (vs. Q2 FY24)</h3><ul><li>Aluminium Upstream EBITDA at ₹3,709 crore, up 79%; EBITDA margin at 41%</li><li>All-time high quarterly Copper EBITDA at ₹829 crore, up 27%</li><li>Novelis’ Rolled Product shipments at 945 KT, up 1%</li><li>Consolidated EBITDA at ₹9,100 crore, up 49%</li><li>Consolidated Net Debt to EBITDA at 1.19x as of September 30th, 2024</li><li>Hindalco ranks as the World’s Most Sustainable Aluminium Company for the 5th consecutive year in S&amp;P Global Corporate Sustainability Assessment rankings 2024&nbsp;</li></ul>&nbsp;&nbsp;<a href="/businesses/companies/hindalco-industries-limited/">Hindalco Industries Limited</a>, the Aditya Birla Group metals flagship, reported a consolidated net profit of ₹3,909 crore for the second quarter, up 78%, driven by a strong operational performance by the India business, favourable macros and prudent cost management. Aluminium Upstream EBITDA per tonne was at $1,349, up 80%, with industry-best margins of 41%. Copper Business delivered another record-breaking performance in Q2, with EBITDA at an all-time high of ₹829 crore, up 27%. Novelis’ performance was impacted by the Sierre flood and tightening of scrap spreads. Excluding the Sierre flood impact, shipments grew by 4% and EBITDA per tonne was at $502 (As per US GAAP).&nbsp;Hindalco continues to generate healthy cash flow which helped the Company keep the Net Debt to EBITDA ratio below 1.2x.&nbsp;&nbsp;<h3>Consolidated Financial Highlights for the Quarter and Half Year ended September 30, 2024</h3><figure class="table" style="float:left;width:100%;"><table><tbody><tr><td>Particulars</td><td>Q2 FY24</td><td>Q1 FY25</td><td>Q2 FY25</td><td>H1 FY24</td><td>H1 FY25</td></tr><tr><td>Revenue from Operations</td><td>54,169</td><td>57,013</td><td>58,203</td><td>1,07,160</td><td>1,15,216</td></tr><tr><td>Earning Before Interest, Tax, Depreciation &amp; Amortisation (EBITDA)</td><td>&nbsp;</td><td>&nbsp;</td><td>&nbsp;</td><td>&nbsp;</td><td>&nbsp;</td></tr><tr><td>Novelis*</td><td>3,998</td><td>4,170</td><td>3,872</td><td>7,454</td><td>8,042</td></tr><tr><td>Aluminium Upstream</td><td>2,074</td><td>3,493</td><td>3,709</td><td>4,009</td><td>7,202</td></tr><tr><td>Aluminium Downstream</td><td>156</td><td>110</td><td>154</td><td>291</td><td>264</td></tr><tr><td>Copper</td><td>653</td><td>805</td><td>829</td><td>1,184</td><td>1,634</td></tr><tr><td>Business Segment EBITDA</td><td>6,881</td><td>8,578</td><td>8,564</td><td>12,938</td><td>17,142</td></tr><tr><td>Inter Segment Profit/ (Loss) Elimination (Net)</td><td>-</td><td>(230)</td><td>3</td><td>(1)</td><td>(227)</td></tr><tr><td>Unallocable Income/ (Expense) - (Net) &amp; GAAP Adjustments</td><td>(785)</td><td>(356)</td><td>533</td><td>(732)</td><td>177</td></tr><tr><td>EBITDA</td><td>6,096</td><td>7,992</td><td>9,100</td><td>12,205</td><td>17,092</td></tr><tr><td>Finance Costs</td><td>1,034</td><td>859</td><td>869</td><td>2,026</td><td>1,728</td></tr><tr><td>PBDT</td><td>5,062</td><td>7,133</td><td>8,231</td><td>10,179</td><td>15,364</td></tr><tr><td>Depreciation &amp; Amortisation (including impairment)</td><td>1,864</td><td>1,957</td><td>2,074</td><td>3,654</td><td>4,031</td></tr><tr><td>Share in Profit/ (Loss) in Equity Accounted Investments (Net of Tax)</td><td>-</td><td>2</td><td>-</td><td>2</td><td>2</td></tr><tr><td>Profit before Exceptional Items and Tax</td><td>3,198</td><td>5,178</td><td>6,157</td><td>6,527</td><td>11,335</td></tr><tr><td>Exceptional Income/ (Expenses) (Net)</td><td>33</td><td>(330)</td><td>(514)</td><td>21</td><td>(844)</td></tr><tr><td>Profit Before Tax (After Exceptional Item)</td><td>3,231</td><td>4,848</td><td>5,643</td><td>6,548</td><td>10,491</td></tr><tr><td>Tax</td><td>1,035</td><td>1,774</td><td>1,734</td><td>1,898</td><td>3,508</td></tr><tr><td>Profit/ (Loss) After Tax</td><td>2,196</td><td>3,074</td><td>3,909</td><td>4,650</td><td>6,983</td></tr><tr><td>EPS (₹/Share) Basic</td><td>9.88</td><td>13.84</td><td>17.59</td><td>20.93</td><td>31.43</td></tr></tbody></table></figure>*As per US GAAP&nbsp;&nbsp;Commenting on the results, Mr. Satish Pai, Managing Director, Hindalco Industries, said, "Our India business delivered a strong operational performance in Q2 bolstered by our relentless focus on operational reliability and cost management. Consequently, our Aluminium India Upstream business reported an EBITDA per tonne of $1,349— the highest in the last 10 quarters and the best-in-industry globally. The Copper business achieved another record quarterly EBITDA. Novelis’ global footprint allowed the company to achieve record beverage packaging shipments, partially offsetting the impact from the flooding-related outage at Sierre.During the quarter, we made significant progress across our growth projects in India Business and Novelis. Our company’s robust cash flow generation enabled us to maintain a consolidated net debt-to-EBITDA ratio below 1.2x.&nbsp;Notably, Hindalco has been recognized as the World's Most Sustainable Aluminium Company for the fifth consecutive year in the S&amp;P Global Corporate Sustainability Assessment rankings 2024, achieving a score of 87 out of 100—up 9 points from last year’s score, and our highest score till date. This achievement underscores our comprehensive approach to ESG, with dedicated efforts towards water positivity, zero waste to landfill, net-zero emissions, and preserving biodiversity.”&nbsp;&nbsp;<h3>Advancing Sustainably</h3>On the ESG front, Hindalco’s score of 87 out of 100 (as of October 30, 2024) was over 20 points ahead of its closest peer, reflecting continuous improvements in environmental, social, and governance (ESG) parameters. Hindalco secured 100th percentile in the environmental segment with an overall score of 87, which is 24 points higher than its nearest peer. In the social category, the company scored 89, which is &nbsp;23 points ahead of its closest peer. In terms of governance, Hindalco scored 84, which is 12 points higher than its nearest peer. S&amp;P Global’s Dow Jones Sustainability Indices (DJSI) is the world’s leading provider of ratings, and only the most sustainable global companies are considered for inclusion in the list.&nbsp;&nbsp;<h3>Segment-wise Performance</h3>Novelis*<ul><li>Shipments at 945 KT, up 1%, led by record beverage packaging shipments</li><li>Novelis Revenue at $4.3 billion, up 5%, driven by higher average aluminum prices</li><li>Adjusted EBITDA at $462 million, down 5% due to less favourable metal benefit, unfavourable product mix, and $25 million flood impact at Sierre</li><li>Net Income at $128 million, down 18%, affected by $61 million in charges from Sierre production interruptions, along with restructuring and impairment costs</li><li>Sierre Plant flood: Total net cash impact $80 million after insurance, with a $30 million effect on adjusted EBITDA, $25 million occurring this quarter</li></ul>*As per US GAAP&nbsp;&nbsp;<h3>Aluminium (India)&nbsp;</h3><ul><li>Quarterly Upstream revenue at ₹9,125 crore, up 16%</li><li>Aluminium Upstream EBITDA at ₹3,709 crore up 79% supported by lower input costs</li><li>Upstream EBITDA margins, at 41%, best in the global industry</li><li>Downstream revenue at ₹3,161 crore, up 20%</li><li>Sales of Downstream Aluminium stood at 103 KT, up 10%</li><li>Downstream EBITDA per tonne was $179, down 11%</li></ul>&nbsp;&nbsp;<h3>Copper (India)</h3><ul><li>Quarterly revenue at ₹13,114 crore, up 5%</li><li>EBITDA at an all-time high of ₹829 crore, up 27%</li><li>Copper metal sales were at 117 KT, down 13%</li><li>Copper Continuous Cast Rod (CCR) sales were at 90 KT, down 10%</li></ul>&nbsp;<h3>Business Updates &amp; Recognition&nbsp;</h3><ul><li>Hindalco retains the leadership position in the S&amp;P Corporate Sustainability Assessment rankings 2024 for the fifth consecutive year, with a score of 87 out of 100 - an improvement of 9 points over its 2023 score, and its highest score till date</li><li>Novelis’ Bay Minette project remains on track; expected to be completed by second half of CY26</li><li>Aditya Flat Rolled Product (FRP) expansion in Odisha to be commissioned by FY26 increasing aluminium downstream capacity from 430,000 tonnes to 600,000 tonnes</li><li>India’s first Greenfield Inner Grooved Tubes project with a 25,000-tonne capacity, to be commissioned in January 2025</li></ul>

Hindalco Q2 FY25 results: Strong India performance drives up consolidated profits

Aditya Birla Capital Limited (“ABCL”) is the holding company for the financial services businesses of the Aditya Birla Group. Through its subsidiaries/JVs, ABCL provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycle. Powered by over 55,000 employees, the businesses of ABCL have a nationwide reach with over 1,470 branches and more than 200,000 agents/channel partners along with several bank partners.As of September 30, 2024, Aditya Birla Capital Limited manages aggregate assets under management of Rs. 5.0 Lakh Crore with a consolidated lending book of Rs 1.38 Lakh Crore through its subsidiaries/JVs.Aditya Birla Capital Limited is a part of the US$66 billion global conglomerate Aditya Birla Group, which is in the league of Fortune 500. Anchored by an extraordinary force of over 187,000 employees belonging to 100 nationalities, the Group is built on a strong foundation of stakeholder value creation. With over seven decades of responsible business practices, the Group’s businesses have grown into global powerhouses in a wide range of sectors - from metals to cement, fashion to financial services and textiles to trading. Today, over 50% of the Group’s revenues flow from overseas operations that span over 40 countries in North and South America, Africa, Asia, and Europe.&nbsp;<h3>Aditya Birla Capital Limited is the holding company of all the following financial services businesses:</h3><ul><li>Aditya Birla Finance Limited&nbsp;</li><li>Aditya Birla Health Insurance Limited&nbsp;</li><li>Aditya Birla Housing Finance Limited&nbsp;</li><li>Aditya Birla Insurance Brokers Limited&nbsp;</li><li>Aditya Birla Money&nbsp;</li><li>Aditya Birla Sun Life Asset Management Company&nbsp;</li><li>Aditya Birla Sun Life Insurance&nbsp;</li><li>Aditya Birla Sun Life Mutual Fund&nbsp;</li><li>Aditya Birla Sun Life Pension Management Limited&nbsp;</li><li>Aditya Birla Asset Reconstruction Company Limited&nbsp;</li></ul>&nbsp;<h3>Products</h3>Finance<ul><li>Home finance&nbsp;</li><li>Personal finance&nbsp;</li><li>SME finance&nbsp;</li><li>Real estate finance&nbsp;</li><li>Project finance&nbsp;</li><li>Loan again securities&nbsp;</li><li>Corporate finance&nbsp;</li><li>Debt capital market&nbsp;</li><li>Loan syndication</li></ul>&nbsp;Asset management<ul><li>Mutual funds&nbsp;</li><li>Wealth</li><li>Stocks and securities&nbsp;</li><li>Private equity&nbsp;</li><li>PMS&nbsp;</li><li>Real estate investment&nbsp;</li><li>Pension funds</li></ul>&nbsp;Insurance<ul><li>Life insurance&nbsp;</li><li>Health insurance&nbsp;</li><li>Motor insurance&nbsp;</li><li>Corp general insurance&nbsp;</li><li>Travel insurance</li></ul>&nbsp;Advisory<ul><li>Money advise tool</li></ul>

<a href="/businesses/companies/aditya-birla-capital-limited-abcl/">Aditya Birla Capital Limited</a> (“The Company”) announced its unaudited financial results for the quarter and half year ended September 30, 2024.<figure class="table"><table><tbody><tr><td>Particulars</td><td>Q2 FY24</td><td>Q2 FY25</td><td>Y-o-Y Growth</td></tr><tr><td>Consolidated Revenue*</td><td>8,831</td><td>12,007</td><td>36%</td></tr><tr><td>Consolidated Profit After Tax</td><td>705</td><td>1,001</td><td>42%</td></tr></tbody></table><figcaption>In ₹ Crore</figcaption></figure><div class="page-break" style="page-break-after:always;">&nbsp;</div>The consolidated profit after tax grew 42% year-on-year and 32% sequentially to ₹ 1,001 crore in Q2 FY25. The consolidated profit after tax includes gain of ₹ 167 crore on sale of entire stake of 50% in <a href="/businesses/brands/aditya-birla-insurance-brokers-limited-abibl/">Aditya Birla Insurance Brokers Limited</a>.The consolidated revenue* grew by 36% year-on-year to ₹ 12,007 crore in Q2 FY25. The overall lending portfolio (NBFC and HFC) grew by 27% year-on-year and 8% sequentially to ₹ 1,37,946 crore as on September 30, 2024.The total AUM (AMC, life insurance and health insurance) grew by 24% year-on-year and 9% sequentially to ₹ 5,01,152 crore as on September 30, 2024. The total premium (life insurance and health insurance) grew by 29% year-on-year to ₹ 10,828 crore in H1 FY25.The Company’s omnichannel architecture allows customers to choose the channel of their choice and interact seamlessly across digital platforms, branches and VRMs, fostering engagement and loyalty. The Company’s D2C platform, ABCD offers a comprehensive portfolio of more than 20 products and services such as payments, loans, insurance, and investments. Its unique feature of ‘My Track’ helps users track their personal finance, credit history and health. During the quarter, the Company has introduced new products such as digigold gifting, family health scan and pocket insurance. It helps customers to fulfil their financial needs and serves as an acquisition engine for the Company. The platform has witnessed a strong response with more than 2.5 million customer acquisitions till date.The comprehensive B2B platform for the MSME ecosystem, Udyog Plus, offers seamless, paperless digital journey for business loans, supply chain financing and a host of other value-added services. It continues to scale up quite well with more than 1.6 million registrations. The Company is also seeing an increased adoption from its existing customers, and as a result the total portfolio of Udyog Plus has crossed ₹ 2,900 crore.The Company has a pan-India presence of 1,470 branches across all businesses as of September 30, 2024. The Company is focused on capturing white spaces and driving penetration into tier 3 and tier 4 towns and new customer segments. &nbsp;<h3>Highlights of NBFC business in Q2 FY25</h3><ul><li>Disbursements grew by 17% year-on-year and 44% sequentially to ₹ 19,322 crore</li><li>AUM grew by 23% year-on-year and 7% sequentially to &nbsp;₹ 1,14,710 crore&nbsp;</li><li>Loans to Retail, SME and HNI customers constitute 65% of the total portfolio&nbsp;</li><li>Profit before tax grew by 15% year-on-year to ₹ 844 crore&nbsp;</li><li>Return on assets was 2.34% and return on equity was 15.56%&nbsp;</li><li>Credit costs improved by 18 basis points sequentially from 1.43% to 1.25%&nbsp;</li><li>Gross stage 2 and 3 ratio improved by 100 basis points year-on-year and 21 basis points sequentially to 4.24%&nbsp; &nbsp;</li></ul><h3>Highlights of Housing Finance business in Q2 FY25</h3><ul><li>Disbursements grew by 113% year-on-year and 31% sequentially to ₹ 4,010 crore</li><li>AUM grew by 51% year-on-year and 14% sequentially to ₹ 23,236 crore</li><li>Profit before tax grew by 7% year-on-year and 22% sequentially to ₹ 104 crore</li><li>Return on assets was 1.53% and return on equity was 11.54%</li><li>Gross stage 2 and 3 ratio improved by 218 basis points year-on-year and 42 basis points sequentially to 2.22%&nbsp; &nbsp;</li></ul><h3>Highlights of Asset Management business in Q2 FY25&nbsp;</h3><ul><li>Mutual fund quarterly average assets under management (QAAUM) grew by 9% sequentially and 23% year-on-year to ₹ 3,83,309 crore, with equity mix at 47.1%</li><li>Equity QAAUM grew by 39% year-on-year to ₹ 1,80,658 crore</li><li>Individual monthly average assets under management grew by 28% year-on-year to ₹ 2,03,391 crore</li><li>Monthly systematic investment plan (SIP) flows grew by 47% year-on-year to &nbsp; ₹ 1,425 crore in September 2024</li><li>Profit before tax grew by 42% year-on-year to ₹ 335 crore</li></ul><h3> Highlights of Life Insurance business in H1 FY25</h3><ul><li>Individual First Year Premium (FYP) grew by 33% year-on-year to ₹ 1,578 crore</li><li>Group New Business Premium grew by 45% year-on-year to ₹ 2,834 crore</li><li>Renewal premium grew by 12% year-on-year to ₹ 3,942 crore</li><li>13th month persistency continued to improve at 88% in September 2024 (September 2023: 87%)</li><li>61st month persistency was strong at 67% in September 2024 (September 2023: 60%)</li><li>Net VNB margin was 7.4%</li><li>Embedded value grew by 21% year-on-year to ₹ 12,368 crore</li></ul><h3> Highlights of Health Insurance business in H1 FY25</h3><ul><li>Gross written premium (GWP) grew by 39% year-on-year to ₹ 2,171 crore, with Retail premium growth at 51% year-on-year</li><li>Market share among standalone health insurers (SAHI) increased by 123 basis points year-on-year to 11.9%</li><li>Combined ratio improved to 113% from 119% in H1 FY24</li></ul>*Consolidated segment revenue; for Ind AS statutory reporting purpose Asset management, wellness business and health insurance are not consolidated and included under equity accounting.

Aditya Birla Capital Q2 FY25 Results: Strong earnings and PAT

UltraTech Cement Limited is the cement flagship company of Aditya Birla Group. A USD 8.4 billion company, UltraTech is the largest manufacturer of grey cement, ready-mix concrete (RMC) and white cement in India. UltraTech is the third largest cement company in the world, excluding China, with a consolidated production capacity of 154.86 Million Tonnes Per Annum (MTPA) of grey cement. UltraTech is the only cement company globally (outside of China) to have 100+ MTPA of cement manufacturing capacity in a single country. The Company’s business operations span UAE, Bahrain, Sri Lanka and India.UltraTech’s manufacturing footprint comprises of 24 integrated manufacturing units, one Clinkerisation unit, 33 grinding units and 8 bulk packaging terminals. With 316 Ready Mix Concrete (RMC) plants in 139 cities, UltraTech is the largest manufacturer of concrete in India. It has a slew of speciality concretes that meet specific needs of discerning customers.&nbsp;UltraTech’s Building Products business is an innovation hub that offers an array of scientifically engineered products to cater to new-age constructions. UltraTech is the leading player in the white cement segment in India and is retailed in the market under the brand name 'Birla White'. UltraTech has one white cement unit and three wall care putty units.&nbsp;

Registers Consolidated Net Sales of Rs. 15,308 crores and Profit after tax of Rs. 820 crores.<a href="/businesses/companies/ultratech-cement-limited/">UltraTech Cement Limited</a>, an Aditya Birla Group company today announced its financial results for the quarter ended 30th September, 2024.&nbsp;<h3>Financial Results: Q2FY25</h3><figure class="table"><table class="ck-table-resized"><colgroup><col style="width:23.85%;"><col style="width:19.08%;"><col style="width:19.08%;"><col style="width:19.55%;"><col style="width:18.44%;"></colgroup><thead><tr><th style="text-align:center;">&nbsp;</th><th style="text-align:center;" colspan="2">Consolidated</th><th style="text-align:center;" colspan="2">Standalone</th></tr><tr><th style="text-align:center;">Particulars</th><th style="text-align:center;">Q2FY25</th><th style="text-align:center;">Q2FY24</th><th style="text-align:center;">Q2FY25</th><th style="text-align:center;">Q2FY24</th></tr></thead><tbody><tr><td style="text-align:center;">Net Sales</td><td style="text-align:center;">15,308</td><td style="text-align:center;">15,735</td><td style="text-align:center;">14,575</td><td style="text-align:center;">15,195</td></tr><tr><td style="text-align:center;">PBIDT</td><td style="text-align:center;">2,239</td><td style="text-align:center;">2,718</td><td style="text-align:center;">2,114</td><td style="text-align:center;">2,609</td></tr><tr><td style="text-align:center;">PAT</td><td style="text-align:center;">820</td><td style="text-align:center;">1,281</td><td style="text-align:center;">797</td><td style="text-align:center;">1,221</td></tr></tbody></table><figcaption>(Rs. in crores)</figcaption></figure>&nbsp;<h3>FINANCIALS</h3>Consolidated Net Sales was Rs. 15,308 crores vis-à-vis Rs. 15,735 crores over the corresponding period of the previous year. Profit before interest, depreciation and tax was Rs. 2,239 crores compared to Rs. 2,718 crores. Profit after tax was Rs. 820 crores compared to Rs. 1,281 crores.&nbsp;<h3>OPERATIONS</h3>UltraTech achieved capacity utilisation of 68% during the quarter. Domestic sales volume grew 3% YoY on a consolidated basis despite incessant rains throughout the country this season.Energy costs were lower by 14% YoY, while raw material costs rose 1% on account of an increase in the cost of flyash and slag.UltraTech successfully raised US$500 million through a sustainability-linked loan with participation from six banks. The transaction marks the second sustainability-linked financing, after the inaugural sustainability-linked bond issuance in 2021. This financing signifies the ongoing commitment to align the Company’s funding strategy with its sustainability and ESG goals.&nbsp;<h3>CAPITAL EXPENDITURE</h3>UltraTech’s expansion program is progressing as per schedule.The capacity expansion drive is on a scale that is globally unprecedented in the cement sector. With the completion of the ongoing expansion projects across India by FY27, and receipt of statutory approvals for the acquisitions of Kesoram Cement (10.75 MTPA) and The India Cements (14.45 MTPA), UltraTech’s total cement capacity will surpass 200 MTPA. This expanded manufacturing footprint will help reduce operational costs, and improve customer service, leveraging the Company’s strong nation-wide presence and its distribution network. More importantly, this scale will further enable UltraTech to service India’s growing demand for cement across the country, reinforcing UltraTech’s contribution to nation’s development&nbsp;<h3>SUSTAINABILITY</h3>UltraTech has been ranked No. 1 in the <a href="/businesses/sectors/cement/">Cement</a> and Building Materials sector at the 4th Edition of Business World’s India’s Most Sustainable Companies 2024 (IMSC 2024), and No. 17 out of the top 200 Companies in India. This is the fourth consecutive time UltraTech has topped the sectoral ranking, an acknowledgement of its efforts in driving sustainability across the value chain of its operations. The framework for the award examines a wide range of environmental, social, and governance (ESG) criteria to provide a holistic view of each company’s sustainability efforts.In line with its stated commitment towards enhancing environment conservation measures, UltraTech commenced 8 MW of WHRS capacity during the quarter. With this, the Company’s total WHRS capacity stands augmented to 308 MW. The share of green power (including WHRS and RE Power) in the Company’s power mix is 32% for the quarter.&nbsp;<h3>GOING FORWARD</h3>UltraTech’s ambitious capacity expansion capitalises on the substantial long term growth potential of India’s cement sector. Its growth trajectory aligns closely with India’s broader growth story. By increasing its scale, the Company will meet the rising demand for cement nationwide. Increase in Government spending on Infrastructure sector and rising demand from the urban housing sector is expected to generate a sustainable volume growth of 7-8% in future years.UltraTech aims to make a meaningful contribution to the nation’s progress by laying the groundwork for infrastructure that shapes modern India.

UltraTech Cement Limited announces Q2FY25 results

<a href="/businesses/companies/ultratech-cement-limited/" target="_blank" rel="noopener noreferrer">UltraTech Cement Limited</a> (“UltraTech”) has today announced that it has successfully raised US$500 million through a sustainability-linked loan with participation from six banks. The transaction marks the second sustainability-linked financing raised by UltraTech, subsequent to its inaugural sustainability-linked bond issuance in 2021. This financing signifies UltraTech’s ongoing commitment to align its funding strategy with its sustainability and ESG goals.This financing is aligned with UltraTech's recently published Sustainability-Linked Financing Framework which covers the Company’s future sustainability-linked bond and loan issuances. UltraTech’s Framework is aligned with the Sustainability-Linked Bond Principles published by the ICMA, the Sustainability-Linked Loan Principles published by the LMA/LSTA/APLMA and has received a Second Party Opinion from S&amp;P Global Ratings.The Sustainability Performance Targets (SPTs), detailed in the Framework, reflect UltraTech’s core sustainability principles and business objectives. These targets encompass<ul><li>Reduction of scope 1 emissions, measured in kgCO2 per ton of cementitious material (kgCO2/t.cem), by 27% by March 31, 2032, from a FY17 baseline.</li><li>Increase share of green energy from waste heat recovery system (WHRS), solar and wind power in its total energy mix to 85% by FY30 and 100% in FY50.</li></ul>Sumitomo Mitsui Banking Corporation (SMBC) acted as the sole Sustainability Coordinator for this transaction and served as the sole advisor on UltraTech’s Sustainability-Linked Financing Framework. Lenders for the transaction include SMBC, SBI, BNP Paribas, DBS, MUFG and Mizuho.Details on the Sustainability-Linked Financing Framework and its accompanying SPO are available on the Company website:<ul><li><a target="_blank" rel="noopener noreferrer" href="https://www.ultratechcement.com/content/dam/ultratechcementwebsite/pdf/sustainability-reports/UltraTech_SLF_Framework_Aug24.pdf">Sustainability Linked Financing Framework</a></li><li><a target="_blank" rel="noopener noreferrer" href="https://www.ultratechcement.com/content/dam/ultratechcementwebsite/pdf/sustainability-reports/UltraTech_SLF_Opinion_Aug24.pdf">Second Party Opinion</a></li></ul>

UltraTech raises USD 500 million through sustainability-linked financing

Robust results supported by strong macros and operational efficiencies<h3>Consolidated PAT at ₹3,074 crore, up 25% YoY</h3>&nbsp;<h3>Q1 FY25 Performance (vs Q1 FY24)</h3><ul><li>Consolidated EBITDA at ₹7,992 crore, up 31% YoY</li><li>Aluminium Upstream EBITDA at ₹3,493 crore, up 81% YoY; Industry-best EBITDA margins at 40%</li><li>All-time high quarterly Copper EBITDA at ₹805 crore, up 52% YoY</li><li>Novelis’ Adjusted EBITDA per tonne at $525*, up 10% YoY</li><li>Consolidated Net Debt to EBITDA at 1.24x as of June 30th, 2024 vs 1.73x as of June 30th, 2023</li></ul><a href="/businesses/companies/hindalco-industries-limited/">Hindalco Industries Limited</a>, the Aditya Birla Group metals flagship, reported a consolidated quarterly Net Profit of ₹3,074 crore, an increase of 25% YoY, supported by favourable macros, operational efficiencies and lower input costs. Aluminium Upstream EBITDA per tonne was at $1,273, up 84% YoY, with industry-best margins of 40%. Copper Business delivered a new record-breaking performance in Q1, with EBITDA at an all-time high of ₹805 crore, up 52% YoY, backed by higher average copper prices and robust operations.Novelis reported a strong first-quarter performance with EBITDA per tonne at $525*, an increase of 10% compared to last year. Hindalco maintained a solid balance sheet and liquidity position which helped the Company keep the Net Debt to EBITDA ratio below 1.5x.*As per US GAAP&nbsp;<h3>Consolidated Financial Highlights for the Quarter ended June 30, 2024</h3>(Rs. crore)<figure class="table"><table class="ck-table-resized" width="100%"><thead><tr><th colspan="2" valign="middle">Particulars</th><th>Q1FY24</th><th>Q4 FY24</th><th>Q1 FY25</th></tr></thead><tbody><tr><td colspan="2">Revenue from Operations</td><td>52,991</td><td>55,994</td><td>57,013</td></tr><tr><td colspan="2">Earning Before Interest, Tax, Depreciation &amp; Amortisation (EBITDA)</td><td>&nbsp;</td><td>&nbsp;</td><td>&nbsp;</td></tr><tr><td>&nbsp;</td><td>Novelis*</td><td>3,456</td><td>4,270</td><td>4,170</td></tr><tr><td>&nbsp;</td><td>Aluminium Upstream</td><td>1,935</td><td>2,709</td><td>3,493</td></tr><tr><td>&nbsp;</td><td>Aluminium Downstream</td><td>135</td><td>144</td><td>110</td></tr><tr><td>&nbsp;</td><td>Copper</td><td>531</td><td>776</td><td>805</td></tr><tr><td colspan="2">Business Segment EBITDA</td><td>6,057</td><td>7,899</td><td>8,578</td></tr><tr><td>&nbsp;</td><td>Inter Segment Profit/ (Loss) Elimination (Net)</td><td>(1)</td><td>(2)</td><td>(230)</td></tr><tr><td>&nbsp;</td><td>Unallocable Income/ (Expense) - (Net) &amp; GAAP Adjustments</td><td>53</td><td>(696)</td><td>(356)</td></tr><tr><td colspan="2">EBITDA</td><td>6,109</td><td>7,201</td><td>7,992</td></tr><tr><td colspan="2">Finance Costs</td><td>992</td><td>888</td><td>859</td></tr><tr><td colspan="2">PBDT</td><td>5,117</td><td>6,313</td><td>7,133</td></tr><tr><td colspan="2">Depreciation &amp; Amortisation (including impairment)</td><td>1,790</td><td>2,176</td><td>1,957</td></tr><tr><td colspan="2">Share in Profit/ (Loss) in Equity Accounted Investments (Net of Tax)</td><td>2</td><td>(1)</td><td>2</td></tr><tr><td colspan="2">Profit before Exceptional Items and Tax</td><td>3,329</td><td>4,136</td><td>5,178</td></tr><tr><td colspan="2">Exceptional Income/ (Expenses) (Net)</td><td>(12)</td><td>-</td><td>(330)</td></tr><tr><td colspan="2">Profit Before Tax (After Exceptional Item)</td><td>3,317</td><td>4,136</td><td>4,848</td></tr><tr><td colspan="2">Tax</td><td>863</td><td>962</td><td>1,774</td></tr><tr><td colspan="2">Profit/ (Loss) After Tax</td><td>2,454</td><td>3,174</td><td>3,074</td></tr><tr><td style="font-size:10px;" colspan="2">EPS (Rs./share)</td><td>11.05</td><td>14.29</td><td>13.84</td></tr><tr><td colspan="5">As per US GAAP</td></tr></tbody></table></figure>Commenting on the results, Mr. Satish Pai, Managing Director, Hindalco Industries, said,&nbsp;“Our strong Q1 results ride on the back of consistent operational excellence and cost optimization which allowed us to leverage the higher average metal prices.The Copper business achieved its highest quarterly EBITDA is driven by high domestic sales (especially downstream products), healthy by-product credits and better operational efficiencies following a successfully planned shutdown. The Aluminium India Upstream business recorded an 81% growth in EBITDA over the previous year. At 40%, it has registered the highest EBITDA margins globally. Novelis’ EBITDA per tonne at $525, was up 10% YoY, primarily due to increased volumes led by normalized beverage can shipments. Looking ahead, the major capital formation phase of the downstream business is near completion, and from here on, we will explore growth opportunities in the upstream business given our strong cash position.&nbsp;On the ESG front, I am happy to report that we are on track on our roadmap for climate action, waste recycling, water conservation, and biodiversity protection.”&nbsp;<h3>Consolidated Results</h3>Consolidated revenue for the first quarter stood at ₹57,013 crore (vs ₹52,991 crore), up 8%YoY, on account of better realisations and efficiencies in India operations.Hindalco reported an EBITDA of ₹7,992 crore (vs ₹6,109 crore) in Q1 FY25, up 31% YoY, driven by lower input costs and higher volumes.Consolidated PAT in Q1 FY25 was ₹3,074 crore compared to ₹2,454 crore in Q1 FY24, up by 25% YoY. Consolidated Net Debt to EBITDA stood at 1.24x as of June 30th, 2024 vs 1.73x as of June 30th, 2023.&nbsp;<h3>Business Segment Performance in Q1 FY25 (vs Q1 FY24)</h3>Novelis*Total shipments of flat rolled products were at 951 KT in Q1 FY25 vs 879 KT in Q1 FY24, up 8% YoY supported by normalised demand for beverage packaging sheets. <a href="/businesses/companies/novelis-inc/">Novelis</a>’ revenue in Q1 FY25 stood at $4.2 billion (vs $4.1 billion), up 2% YoY, driven by higher average aluminium prices YoY and higher shipments. Novelis reported an adjusted EBITDA of $500 million (vs $421 million), up 19% YoY supported by higher shipments and favourable product pricing. Novelis’ adjusted EBITDA per tonne at $525 was up 10% YoY. Net income attributable to our common shareholder, was $151 million in Q1 FY25, down 3% YoY due to initial charges associated with flooding at the Sierre plant, Switzerland, caused by unprecedented heavy rainfall in June, as well as higher restructuring and unfavourable metal price lag, largely offset by higher Adjusted EBITDA.&nbsp;The total net cash impact of flooding at the Novelis Sierre plant, after insurance, is estimated at $80 million. The net impact on Adjusted EBITDA is estimated to be $30 million, most of which will occur in the second quarter.Aluminium (India)Quarterly Upstream revenue was ₹8,839 crore in Q1 FY25 vs ₹8,064 crore in the prior year period. Aluminium Upstream EBITDA stood at ₹3,493 crore in Q1 FY25, compared with ₹1,935 crore for Q1 FY24, up 81% YoY supported by lower input costs. Upstream EBITDA margins, at 40%, were the best in the global industry.Downstream revenue was ₹2,868 crore in Q1 FY25 vs ₹2,435 crore in the prior year period. Sales of Downstream Aluminium stood at 96 KT vs 81 KT in Q1 FY24, up 18% YoY. Downstream EBITDA per tonne was $138 in Q1 FY25, compared to $202 for Q1 FY24, down 32% YoY.CopperQuarterly revenue from the Copper Business stood at ₹13,292 crore, up 16% YoY, on account of higher shipments and realisation. EBITDA for the Copper Business was at an all-time high of ₹805 crore in Q1 FY25 compared to ₹531 crore in Q1 FY24, up 52% YoY backed by higher average copper prices and robust operations. Quarterly Copper metal sales were at 119 KT (vs 118 KT). Copper Continuous Cast Rod (CCR) sales were at 100 KT in Q1 FY25 (vs 98 KT), up 2% YoY in line with growing market demand for value-added products.&nbsp;<h3>Business Updates &amp; Recognition</h3><ul><li>Novelis’ Bay Minette project remains on track, expected to be completed by the second half of CY26</li><li>Aditya FRP expansion in Odisha to be commissioned by FY26</li><li>Silvassa extrusions plant ramping up</li><li>Hindalco in the Top 10 of the 'Great Place to Work' list in Health and Wellness for 2024</li><li>Hindalco awarded ‘Masters of Risk’ title in Private Sector – large cap category at the India Risk Management Awards 2024</li></ul>

Hindalco Reports Consolidated First Quarter FY2025 Results

<h3>Creating and scaling growth engines for a growing economy</h3>&nbsp;<h3>KEY HIGHLIGHTS – Q1FY25</h3><ul style="list-style-type:disc;"><li>Revenue: Consolidated revenue stood at ₹33,861 Cr., up 9% YoY; TTM revenue at ₹1,33,774 Cr.&nbsp;</li><li>Cement: Added new capacity of 8.7 Mn TPA, taking total grey cement capacity (domestic + overseas) to 154.9 Mn TPA</li><li>Birla Opus: Market presence reached to over 3,300 cities and towns, getting good response from trade channels and consumers&nbsp;</li><li>Financial Services: Total Lending Portfolio* crossed ₹1,25,000 Cr., up 27% YoY</li><li>Cellulosic Staple Fibre: Highest ever quarterly sales volumes at 212 KT, specialty share at 22%</li><li>Chemicals: Speciality Chemicals revenue contribution improved to 30% and Chlorine Integration at highest levels of 65%</li></ul>*Lending Portfolio (NBFC + HFC)<a href="/businesses/companies/grasim-industries-limited/">Grasim Industries Limited</a> today announced its Financial Results for the quarter ended 30th June 2024. Consolidated revenue stood at ₹33,861 Cr., up by 9% YoY, driven by strong performance from its diversified businesses portfolio. Cellulosic Staple Fibre, Building Materials and Financial Services businesses delivered superior performance.&nbsp;&nbsp;Consolidated EBITDA was lower by 4% at ₹4,760 Cr. This was driven by investments in the Paints business - a reflection of Grasim’s commitment to build strong consumer-facing businesses from scratch, the results of which are in line with expectations. Further, higher depreciation and interest charges on account of new growth businesses has led to lower PAT.&nbsp;<h3>Consolidated Financials</h3><figure class="table"><table class="ck-table-resized" width="100%" border="0"><thead><tr><th>&nbsp;</th><th>Q1FY25</th><th>Q1FY24</th><th>% YoY</th></tr></thead><tbody><tr><td>Revenue</td><td>33,861</td><td>31,065</td><td>9%</td></tr><tr><td>EBITDA</td><td>4,760</td><td>4,981</td><td>(4%)</td></tr><tr><td>PAT^</td><td>1,189</td><td>1,576</td><td>(25%)</td></tr></tbody></table></figure>^owner’s share of PAT excluding exceptional items.&nbsp;<h3>Cellulosic Fibres (Cellulosic Staple Fibre - CSF and Cellulosic Fashion Yarn - CFY)</h3>China CSF prices improved sequentially by 4% to $1.64/kg, although they were lower 2% on a YoY basis. During the quarter, China operating rates remained stable at ~82%, with inventory levels at 12 days. The CSF business experienced its fourth consecutive quarter of YoY growth due to an improving domestic demand scenario and global price trends.CSF business achieved its highest ever quarterly sales volume at 212 KT up 14% YoY. The CFY business recorded marginal volume growth of 2% YoY, due to subdued demand conditions in the downstream value chain and lower priced export into India by from Chinese producers.Revenue for the quarter was at ₹3,787 Cr. up 6% YoY. Segment EBITDA grew by 4% YoY to ₹405 Cr. helped mainly by operating leverage and lower input costs.&nbsp;<h3>Chemicals (Chlor-Alkali, Chlorine Derivatives and Speciality Chemicals)</h3>The International Caustic Soda (CFR-SEA) average spot prices stood at $469/ton in Q1FY25, improving by 13% and 4% YoY and QoQ, respectively. The continued upward trend in global prices led to a marginal QoQ improvement in domestic caustic soda prices due to overcapacity conditions in the domestic markets. ECU realisations improved by 7% QoQ but declined by 4% YoY.&nbsp;The Chemicals business achieved revenue of ₹2,066 Cr., down 4% YoY and 1% QoQ. Speciality Chemicals (epoxy polymers and curing agents) revenue mix improved to 30% for the quarter from 25% in Q1FY24. EBITDA for the Chemicals segment stood at ₹310 Cr. up by 59% QoQ but declined 13% YoY. Profitability improved sequentially on the back of higher caustic soda realisations and improved margins of chlorine derivatives.&nbsp;&nbsp;<h3>Building Materials (Cement, Paints and B2B E-commerce)</h3>The Building Materials business reported revenue of ₹18,701 Cr., up 11% YoY, led by the growth in Cement and ramp-up in revenues from new growth businesses - Paints and B2B E-Commerce. EBITDA stood at ₹2,909 Cr., down 7% YoY mainly due to initial funding of new growth businesses.Consolidated sales volumes of <a href="/businesses/sectors/cement/">Cement business</a> (UltraTech) grew by 7% YoY to 31.95 MT and ready-mix concrete sales volumes grew by 22% YoY to 3.25 Mn m3. During the quarter, grey cement capacity expanded by 8.7 Mn TPA, taking the total grey cement capacity to 154.9 Mn TPA. The Board of Directors of UltraTech approved the purchase of 32.72% equity stake of the promoters &amp; their associates in India Cements Limited (ICL). UltraTech had made a financial investment in ICL to acquire 22.77% equity in June 2024. Post signing of share purchase agreement and obtaining regulatory approvals for the purchase of equity stake in ICL, UltraTech will pay ₹3,954 Cr. at ₹390/share for buying 32.72% stake in ICL from the promoters &amp; their associates. This has triggered a mandatory open offer, at ₹390/share. The Open Offer will be done subsequently after obtaining all regulatory approvals.&nbsp;The paints business under the brand name ‘Birla Opus’ is ramping up production across product categories at already commissioned three plants. Trial production has also commenced at the Chamarajanagar plant. The first flagship experience store is operational in Mumbai. Media campaign under ‘Make life Beautiful’ was launched with a focus on rapid brand building across all marketing channels. Outreach to influencers (contractors and painters) remains on track. The total Capex for the business is ₹7,795 Cr. till June 2024, ~77% of the planned Capex outlay.Birla Pivot, the B2B E-Commerce business, has achieved a quarterly run-rate revenue of above ₹550 Cr. The business is continuously adding new buyers with a healthy rate of repeat orders. Birla Pivot continues to expand its geographical reach with delivery to 200+ cities across 25 states and union territories.&nbsp;&nbsp;<h3>Financial Services</h3>Financial Services business’ (Aditya Birla Capital), Revenue and EBITDA, as consolidated in accordance with Ind AS, stood at ₹8,807 Cr. and ₹1,058 Cr., registering growth of 25% and 17%, respectively. The overall lending portfolio (NBFC and HFC) increased by 27% YoY and 3% QoQ to ₹1,27,705 Cr. The total AUM (AMC, life insurance and health insurance) grew by 20% YoY to ₹4,62,891 Cr. The D2C platform, Aditya Birla Capital Digital (ABCD), commercially launched in Q1FY25, witnessed strong response with about 8 lakh registrations. Udyog Plus, the B2B platform for the MSME, continues to scale with more than 10 lakh registrations and a total portfolio of ₹2,600 Cr.&nbsp;<h3>Other Businesses (Textiles, Renewables and Insulators)</h3>Revenue from other businesses increased by 6% YoY to ₹798 Cr. and EBITDA at ₹109 Cr. down 16% YoY. In Renewable business cumulative installed capacity increased to 946 MW, up 6% from 894 MW in Mar’24.&nbsp;&nbsp;<h3>Capital Expenditure</h3>Capital expenditure for Q1FY25 stood at ₹983 Cr. The budgeted standalone capex for FY25 is ₹4,553 Cr. of which ~₹3,000 Cr., is towards new growth businesses.&nbsp;&nbsp;<h3>Sustainability</h3>Our Company remains committed to continuously improving its consumption and emission norms. During Q1FY25, the proportion of recycled water consumption to freshwater consumption improved to 54% from 50% in FY24. The share of renewable power consumption in Standalone Businesses stood at 11%. The Company was recognised for its exemplary commitment towards Sustainability at the third edition of the Times Now Sustainable Organization 2024 - Global Sustainability Alliance.&nbsp;<h3>Creating and Scaling growth engines for a growing economy</h3>Grasim with its significant presence across businesses is well positioned to capitalise on the opportunities in diverse sectors of the fast-growing Indian economy. The Government’s continued focus on infrastructure &amp; housing, financialisation and thrust on increasing economic prosperity of the large section of people augurs well for the Company.

Grasim Industries announces Q1 FY25 results

<ul><li>Consolidated PAT1: Rs.745 crore (↑15% y-o-y)</li><li>Consolidated Revenue1,2: Rs.10,258 crore (↑26% y-o-y)</li><li>NBFC AUM: Rs.1.07 lakh crore (↑25% y-o-y)</li><li>HFC AUM: Rs.20,399 crore (↑41% y-o-y)</li><li><a href="/businesses/sectors/financial-services/">Mutual fund</a> quarterly average AUM crossed &nbsp;Rs.3.5 lakh crore (↑ 19% y-o-y)</li><li>Life insurance total premium: Rs.3,986 crore (↑ 28% y-o-y)</li><li>Health insurance gross written premium: Rs.1,041 crore (↑ 35% y-o-y)</li><li>Udyog Plus, B2B platform for MSMEs crossed Rs.2,600 crore AUM till date</li></ul>&nbsp;(Rs. crore)<figure class="table"><table class="ck-table-resized" width="100%"><thead><tr><th>Particulars</th><th>Q1 FY24</th><th>Q1 FY25</th><th>Y-o-Y&nbsp;&nbsp; growth</th></tr></thead><tbody><tr><td>Consolidated revenue1,2</td><td>8,144</td><td>10,258</td><td>26%</td></tr><tr><td>Consolidated profit after Tax1 (after minority interest and excluding one-off items)</td><td>649</td><td>745</td><td>15%</td></tr><tr><td>Reported profit after tax</td><td>649</td><td>759</td><td>17%</td></tr></tbody></table></figure><a href="/businesses/companies/aditya-birla-capital-limited-abcl/">Aditya Birla Capital Limited</a> (“The Company”) announced its unaudited financial results for the quarter ended June 30, 2024.The consolidated profit after tax, excluding one-off items, grew 15% year-on-year to Rs.745 crore. The consolidated revenue 1,2 grew by 26% year-on-year to Rs.10,258 crore. The overall lending portfolio (NBFC and HFC) grew by 27% year-on-year to Rs.1,27,705 crore as of June 30, 2024. The total AUM (AMC, life insurance and health insurance) grew by 20% year-on-year to Rs.4,62,891 crore. The total premium (life and health insurance) grew by 30% year-on-year to Rs.5,027 crore.The Company’s omnichannel architecture allows customers to choose the channel of their choice and interact seamlessly across digital platforms, branches and VRMs, fostering engagement and loyalty. During the quarter, the Company commercially launched its D2C platform, ABCD which offers a comprehensive portfolio of more than 20 products and services such as payments, loans, insurance, and investments. Its unique feature of ‘My Track’ helps users track their personal finance, credit history and health. It allows customers to fulfil their financial needs and serves as an acquisition engine for the Company. The platform has witnessed a strong response with about 8 lakh registrations to date.The comprehensive B2B platform for the MSME ecosystem, Udyog Plus, offers a seamless, paperless digital journey for business loans, supply chain financing and a host of other value-added services. It continues to scale up quite well with more than 10 lakh registrations. The Company is also seeing an increased adoption from its existing customers, and as a result, the total portfolio of Udyog Plus has crossed Rs.2,600 crore.The Company has a Pan-India presence of 1,505 branches across all businesses as of June 30, 2024. The branch expansion is targeted at driving penetration into tier 3 and tier 4 towns and new customer segments.&nbsp;<h3>Highlights of NBFC Business</h3><ul><li>AUM grew by 25% year-on-year to Rs.1,07,306 crore</li><li>Loans to Retail, SME and HNI customers constitute 66% of the total portfolio</li><li>Profit before tax grew by 21% year-on-year to Rs.833 crore</li><li>Return on assets was at 2.41%</li><li>Return on equity grew by 29 basis points sequentially to 16.13%</li><li>Gross stage 2 and 3 ratio improved by 4 basis points sequentially and 101 basis points year-on-year to 4.45%</li></ul>&nbsp;<h3>Highlights of Housing Finance Business</h3><ul><li>Disbursements grew by 89% year-on-year to Rs.3,068 crore</li><li>AUM grew by 11% sequentially and 41% year-on-year to Rs.20,399 crore</li><li>Profit before tax was 85 crore</li><li>Return on assets was 1.44% and return on equity was 11.04%</li><li>Gross stage 2 and 3 ratio improved by 27 basis points sequentially and 214 basis points year-on-year to 2.64%</li></ul>&nbsp;<h3>Highlights of Asset Management Business</h3><ul><li>Mutual fund quarterly average assets under management (QAAUM) grew by 6% sequentially and 19% year-on-year to&nbsp;Rs.3,52,542 crore, with equity mix at ~ 46%</li><li>Equity QAAUM grew by 37% year-on-year to Rs.1,62,129 crore</li><li>Individual monthly average assets under management grew by 24% year-on-year to&nbsp;Rs.1,85,681 crore</li><li>Monthly systematic investment plan (SIP) flows grew by 39% year-on-year to Rs.1,367 crore in June 2024</li><li>Profit before tax grew by 27% year-on-year to Rs.305 crore</li></ul>&nbsp;<h3>Highlights of Life Insurance Business</h3><ul><li>Individual First Year Premium (FYP) grew by 19% year-on-year to Rs.644 crore</li><li>Group new business premium grew by 41% year-on-year to Rs.1,498 crore</li><li>Renewal premium grew 17% year-on-year to Rs.1,681 crore</li><li>13th month persistency continued to improve at 88% in June 2024 (June 2023: 87%)</li><li>61st month persistency was strong at 66% in June 2024 (June 2023: 57%)</li><li>Net VNB margin was 6.50%</li></ul>&nbsp;<h3>Highlights of Health Insurance Business</h3><ul><li>Gross written premium (GWP) grew by 35% year-on-year to&nbsp;&nbsp; 1,041 crores, with Retail premium growth at 51% year-on-year</li><li>Market share among standalone health insurers (SAHI) increased by 92 basis points year-on-year to 12.5%</li><li>Combined ratio improved to 112% from 118% in Q1 FY24</li></ul>

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