Hindalco Q3FY08 Results

Hindalco Industries Ltd has announced the following Audited results for the quarter ended December 31, 2007:

The Company has posted a net profit of Rs 5427 million for the quarter ended December 31, 2007 as compared to Rs 6439 million for the quarter ended December 31, 2006. Total Income has decreased from Rs 47146 million for the quarter ended December 31, 2006 to Rs 46460 million for the quarter ended December 31, 2007.

Hindalco Industries approves amalgamation

Hindalco Industries Ltd has informed that the shareholders of the Company at their Court Convened Meeting held on November 12, 2007, have approved the Scheme of Arrangement for Amalgamation of Indian Aluminium Company Ltd with the Company by requisite majority.

Hindalco Industries Q2FY07 Results

Hindalco Industries Ltd has announced the following Unaudited results for the quarter ended September 30, 2007:

The Company has posted a net profit of Rs 6428 million for the quarter ended September 30, 2007 as compared to Rs 5976 million for the quarter ended September 30, 2006. Total Income has increased from Rs 47450 million for the quarter ended September 30, 2006 to Rs 50695 million for the quarter ended September 30, 2007.

Hindalco acquires Alumina

With reference to the earlier announcement dated July 19, 2007, regarding the Company to acquire Alcan stake in Utkal Alumina, Hindalco Industries Ltd has informed that acquisition of entire shareholding of Alcan Inc., comprising of 78,564,384 Equity Shares in Utkal Alumina International Ltd has been completed. Now, Utkal Alumina International Ltd is 100% subsidiary of the Company.

Merrill Lynch - Hindalco

Merrill Lynch has raised the EPS forecasts by 39% in FY09 led by our higher aluminum forecasts.

They have however cut the FY08E EPS by 27% owing to Novelis’ performance being below expectations.

They maintain their Sell rating owing to high valuation.