May 4, 2007

Hindalco posts profit of Rs 7213 mn

Hindalco Industries Ltd has announced the results for the quarter & year ended March 31, 2007. The Company has posted a net profit of Rs 7213 million for the quarter ended March 31, 2007 as compared to Rs 6263 million for the quarter ended March 31, 2006.

Total Income has increased from Rs 37317 million for the quarter ended March 31, 2006 to Rs 48722 million for the quarter ended March 31, 2007. The Audited results for the Year ended March 31, 2007 The Company has posted a net profit of Rs 25643 million for the year ended March 31, 2007 as compared to Rs 16555 million for the year ended March 31, 2006.

Total Income has increased from Rs 116404 million for the year ended March 31, 2006 to Rs 186831 million for the year ended March 31, 2007.

Stock/Company Outlook

Hindalco has underperformed in this market for a long time.The stock went upto 250 + levels in the last rally when market touched its previous high of 12500+.After the correction of over 3000 points it slipped by more than 30% from its 52 weeks high and never saw that again even when market topped at 14700 +.

Hindalco's landmark takeover of US company Novelis did not do any good in term to the stock price & it slipped even further to 130 + levels.Since the the stock has been range bound & lagging behind.

Based on the results & current scenario a fair target of 180/190 can be expected in medium term.

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