Buy Hindalco Industries, target price Rs 530: JM Financial
Hindalco Industries, incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 99021.67 Crore) operating in Metals - Non Ferrous sector.
By ETMarkets.com | Updated:
Agencies
JM Financial has buy call on Hindalco Industries with a target price of Rs 530. The current market price of Hindalco Industries is Rs 439.65. Time period given by analyst is a year when Hindalco Industries price can reach defined target.
Hindalco Industries, incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 99021.67 Crore) operating in Metals - Non Ferrous sector.
Hindalco Industries key Products/Revenue Segments include Aluminium, Other Operating Revenue, Sale of services for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 56504.00 Crore, down -2.96 % from last quarter Total Income of Rs 58229.00 Crore and up 17.56 % from last year same quarter Total Income of Rs 48063.00 Crore. Company has reported net profit after tax of Rs 2203.00 Crore in latest quarter.
The company’s top management includes Mr.Kumar Mangalam Birla, Mr.Sudhir Mital, Mr.Vikas Balia, Ms.Alka Bharucha, Mr.Yazdi Piroj Dandiwala, Mr.Kailash Nath Bhandari, Mr.Askaran Agarwala, Mrs.Rajashree Birla, Mr.Praveen Kumar Maheshwari, Mr.Satish Pai, Mr.Anant Maheshwari. Company has Price Waterhouse & Co Chartered Accountants LLP as its auditors. As on 30-06-2022, the company has a total of 225 Crore shares outstanding.
Promoter/FII Holdings
Promoters held 34.64 per cent stake in the company as of 30-Jun-2022, while FIIs owned 24.76 per cent, DIIs 21.52 per cent.
Hindalco Industries, incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 99021.67 Crore) operating in Metals - Non Ferrous sector.
Hindalco Industries key Products/Revenue Segments include Aluminium, Other Operating Revenue, Sale of services for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 56504.00 Crore, down -2.96 % from last quarter Total Income of Rs 58229.00 Crore and up 17.56 % from last year same quarter Total Income of Rs 48063.00 Crore. Company has reported net profit after tax of Rs 2203.00 Crore in latest quarter.
The company’s top management includes Mr.Kumar Mangalam Birla, Mr.Sudhir Mital, Mr.Vikas Balia, Ms.Alka Bharucha, Mr.Yazdi Piroj Dandiwala, Mr.Kailash Nath Bhandari, Mr.Askaran Agarwala, Mrs.Rajashree Birla, Mr.Praveen Kumar Maheshwari, Mr.Satish Pai, Mr.Anant Maheshwari. Company has Price Waterhouse & Co Chartered Accountants LLP as its auditors. As on 30-06-2022, the company has a total of 225 Crore shares outstanding.
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Investment Rationale The auto business which accounts for ~18% of the business has a good order-book although building and construction segment may witness some slowdown. The company expects near term margins to be impacted due to high cost inventory and inflationary pressures (US$75-125 per ton). However, medium term Adj. EBITDA/t guidance is maintained at USD525/t. Novelis expects ~USD500mn of free cashflow in FY23 (1H free cashflow was negative USD90mn) aided by working capital release in 2H. India operations are likely to benefit from declining thermal coal prices (~25-30%) and improving linkage coalavailability. The long term outlook for Hindalco continues to remain buoyant.Promoter/FII Holdings
Promoters held 34.64 per cent stake in the company as of 30-Jun-2022, while FIIs owned 24.76 per cent, DIIs 21.52 per cent.
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