BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Hindalco Industries Ltd.'s wholly-owned subsidiary Novelis, reported record-high adjusted Ebitda of $508 million (adjusted for one-off income of $47 million) on the back of record-high margins of $522/tonne (up 2% QoQ).
Novelis should see mix improvement in H2 FY22 and FY23 as the share of auto volumes should increase on account of capacity additions.
We raise our consolidated FY22E/FY23E Ebitda by 3%/6%, factoring in a higher aluminum price assumption (up 3%/7% to $2,375/$2,300 per tonne for FY22/FY23).
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 author entity 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.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR