Views by-Prathamesh Masdekar, Research Analyst, StoxBox
– Consolidated Revenue from Operations stood at Rs. 58,203 crores in Q2FY25, up 2.1% QoQ and up 7.4% YoY on account of better realizations and efficiencies in India operations.
– EBITDA for Q2FY25 stood at Rs. 7,883 crores, up 5.1% QoQ / up 40.5% YoY, driven by lower input costs and higher volumes. EBITDA margin for Q2FY25 stood at 13.5% in Q2FY25, up 38bps QoQ / up 318bps YoY.
– Net Profit for Q2FY25 stood at Rs. 3,909 crores, up 27.2% QoQ / up 78.0% YoY, driven by robust operational performance by the India business, favourable macros and prudent cost management. The PAT margin was 6.7% versus 5.4% in the previous quarter.
– Novelis’ revenue stood at USD 4.3 billion, down 5% YoY, due to less favourable metal benefit, unfavourable product mix, and $25 million flood impact at Sierre. The net income was at $128 million, down 18%, and was affected by $61 million in charges from Sierre production interruptions and restructuring and impairment costs.
– Quarterly upstream revenue was Rs. 9,125 crores in Q2FY25 vs Rs. 7,878 crores in the prior year due to higher average aluminium prices. Aluminium upstream EBITDA stood at Rs. 3,709 crores in Q2FY25, compared with Rs. 2,074 crores for Q2FY24, up 79% YoY, supported by lower input costs.
– Downstream revenue was Rs. 3,161 crores in Q2FY25 vs Rs. 2,629 crores in the prior year. Sales of downstream Aluminium stood at 103 KT vs 94 KT in Q2FY24, up 10% YoY on market recovery. Downstream EBITDA per tonne was USD 179 in Q2FY25, compared to USD 202 for Q2FY24, down 11% YoY.
– Revenue from the Copper Business stood at Rs. 13,114 crores, up 5% YoY, on account of higher average copper prices. EBITDA for the Copper Business was at an all-time high of Rs. 829 crores in Q2FY25 compared to Rs. 653 crores in Q2FY24, up 27% YoY. Quarterly Copper metal sales were at 117 KT (vs 134 KT). Copper Continuous Cast Rod (CCR) sales were at 90 KT in Q2FY25 (vs 100 KT), down 10% YoY.