Hindalco Industries Ltd., incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 40826.22 Crore) operating in Metals - Non Ferrous sector.
AgenciesPromoters held 34.7 per cent stake in the company as of June 30, 2020, while FIIs held 18.8 per cent, DIIs 27.3 per cent and public and others 19.3 per cent.
Motilal Oswal has given buy rating to Hindalco Industries with a target price of Rs 233. The share price moved up by by 3.56 per cent from its previous close of Rs 175.75. The stock’s last traded price is Rs 182. Hindalco Industries Ltd., incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 40826.22 Crore) operating in Metals - Non Ferrous sector.
Financials For the quarter ended 31-03-2020, the company reported a Consolidated sales of Rs 29318.00 Crore, up .41 % from last quarter Sales of Rs 29197.00 Crore and down -13.12 % from last year same quarter Sales of Rs 33745.62 Crore. The Company reported net profit after tax of Rs 668.00 Crore in latest quarter.
Investment Rationale Outlook for Novelis is positive led by resilience in beverage can business and global recovery in auto demand which is a high margin business. Profitability in its primary aluminum business in India is also improving, led by lower costs and rebound in LME aluminum prices (now nearly flat YoY). With ~75% EBITDA contribution from the non-LME business (Novelis + Aleris), the brokerage sees relatively higher stability in HNDL’s earnings. The stock trades at an attractive valuation of 5.3x EV/EBITDA and 8.1x P/E on FY22E. Promoter/FII Holdings Promoters held 34.7 per cent stake in the company as of June 30, 2020, while FIIs held 18.8 per cent, DIIs 27.3 per cent and public and others 19.3 per cent.
Agencies
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