Indian Stock Picks - Share Ideas , News, Fundamentals

Hindalco Industries Ltd, has reported 78 per cent dip in its consolidated net profit at Rs 485 crore (Rs 2,193 crore) in the year ended March 2009 due to the global economic turmoil and consequent sharp fall in demand and price realisations. Net sales were up 9 per cent at Rs 65,625 crore (Rs 60,013 crore) in FY’09. The company’s net profit on a standalone basis in the fourth quarter of FY’09 was down 75 per cent at Rs 270 crore against Rs 1,071 crore in the same quarter last year. Sales in Q4 were down 25 per cent at Rs 3,770 crore (Rs 5,000 crore). The group has a total debt of Rs 28,000 crore, while on a standalone basis the debt was Rs 13,000 crore.

Hindalco Industries has declared its second quarter results. The company's standalone net sales were at Rs 5,636 crore versus Rs 4,959.7 crore. Its standalone net profit was at Rs 719.95 crore versus Rs 642.8 crore.

Board of Directors of the Hindalco Industries has approved the issue of Equity Shares for an amount not exceeding Rs50bn to the existing Shareholders on rights basis ("Rights Issue") to part finance the take out of the existing bridge loan for acquisition of Novelis Inc. The Share Ratio for the Rights issue will be 1:3, i.e. one right of Re 1 each for every three equity shares of Re 1 each held by the shareholder as on the Record Date to be announced later. The price per share for the Rights Issue would be decided by the Board and announced at a later date in accordance with the relevant statutory requirements.

Hindalco Industries Ltd. on Wednesday announced the financial results for the fiscal fourth quarter and year ended March 31, 2008. The company has posted a net profit of Rs10.77bn the quarter as against Rs7.21bn in the same quarter last year. For the reporting quarter, total income is Rs51.54bn versus Rs48.72bn for the quarter ended March 31, 2007. For the year ended March 31, 2008, the company has posted a net profit of Rs28.61bn compared to Rs25.64bn in the year ended March 31, 2007. Total income for the year 2007-08 is Rs196.94bn as against Rs186.83bn for the year ended March 31, 2007.

Hindalco net profit falls to Rs543 cr in Q3 (Live mint.com 31th Jan 2008)India’s biggest aluminium producer, Hindalco Industries Ltd, said profit declined for the first time in two years because of lower metal prices and a fall in copper smelting fees. Net income dropped to Rs543 crore ($138 million) in the quarter ended 31 December from Rs644 crore a year ago. The median estimate of five analysts surveyed by Bloomberg was for a profit of Rs500 crore. Sales fell 3% to Rs4,530 crore, the company said on Wednesday. Hindalco and Alcoa Inc., the world’s third largest producer, suffered from a drop in average aluminium prices in the quarter. Indian smelters have also been hit by the 12% gain in the rupee against the dollar and lower smelting fees caused by a global shortage of mineral concentrates. Shares of Hindalco fell 2% to close at Rs176.1 each on the Bombay Stock Exchange on Wednesday. The stock has lost 18% of its value this year, more than the 12.5% decline in India’s benchmark Sen...