Financial Services

Aditya Birla Capital Limited (ABCL)

Chemicals

Aditya Birla Chemicals (Thailand) (ABCTL)

Fashion

Aditya Birla Fashion and Retail Limited (ABFRL)

Aditya Birla Sun Life AMC Limited (ABSLAMC)

Carbon Black

Birla Carbon

Cellulosic Fibre

Textiles

Grasim Industries Limited

Metals

Hindalco Industries Limited

Novelis Inc

Cement

UltraTech Cement Limited

Telecom

Vodafone Idea Limited (Vi)

UltraTech Cement Limited is the cement flagship company of Aditya Birla Group. A USD 8.4 billion company, UltraTech is the largest manufacturer of grey cement, ready-mix concrete (RMC) and white cement in India. UltraTech is the third largest cement company in the world, excluding China, with a consolidated production capacity of 154.86 Million Tonnes Per Annum (MTPA) of grey cement. UltraTech is the only cement company globally (outside of China) to have 100+ MTPA of cement manufacturing capacity in a single country. The Company’s business operations span UAE, Bahrain, Sri Lanka and India.UltraTech’s manufacturing footprint comprises of 24 integrated manufacturing units, one Clinkerisation unit, 33 grinding units and 8 bulk packaging terminals. With 316 Ready Mix Concrete (RMC) plants in 139 cities, UltraTech is the largest manufacturer of concrete in India. It has a slew of speciality concretes that meet specific needs of discerning customers.&nbsp;UltraTech’s Building Products business is an innovation hub that offers an array of scientifically engineered products to cater to new-age constructions. UltraTech is the leading player in the white cement segment in India and is retailed in the market under the brand name 'Birla White'. UltraTech has one white cement unit and three wall care putty units.&nbsp;

<a href="/businesses/companies/ultratech-cement-limited/" target="_blank" rel="noopener noreferrer">UltraTech Cement Limited</a> (“UltraTech”) has today announced that it has successfully raised US$500 million through a sustainability-linked loan with participation from six banks. The transaction marks the second sustainability-linked financing raised by UltraTech, subsequent to its inaugural sustainability-linked bond issuance in 2021. This financing signifies UltraTech’s ongoing commitment to align its funding strategy with its sustainability and ESG goals.This financing is aligned with UltraTech's recently published Sustainability-Linked Financing Framework which covers the Company’s future sustainability-linked bond and loan issuances. UltraTech’s Framework is aligned with the Sustainability-Linked Bond Principles published by the ICMA, the Sustainability-Linked Loan Principles published by the LMA/LSTA/APLMA and has received a Second Party Opinion from S&amp;P Global Ratings.The Sustainability Performance Targets (SPTs), detailed in the Framework, reflect UltraTech’s core sustainability principles and business objectives. These targets encompass<ul><li>Reduction of scope 1 emissions, measured in kgCO2 per ton of cementitious material (kgCO2/t.cem), by 27% by March 31, 2032, from a FY17 baseline.</li><li>Increase share of green energy from waste heat recovery system (WHRS), solar and wind power in its total energy mix to 85% by FY30 and 100% in FY50.</li></ul>Sumitomo Mitsui Banking Corporation (SMBC) acted as the sole Sustainability Coordinator for this transaction and served as the sole advisor on UltraTech’s Sustainability-Linked Financing Framework. Lenders for the transaction include SMBC, SBI, BNP Paribas, DBS, MUFG and Mizuho.Details on the Sustainability-Linked Financing Framework and its accompanying SPO are available on the Company website:<ul><li><a target="_blank" rel="noopener noreferrer" href="https://www.ultratechcement.com/content/dam/ultratechcementwebsite/pdf/sustainability-reports/UltraTech_SLF_Framework_Aug24.pdf">Sustainability Linked Financing Framework</a></li><li><a target="_blank" rel="noopener noreferrer" href="https://www.ultratechcement.com/content/dam/ultratechcementwebsite/pdf/sustainability-reports/UltraTech_SLF_Opinion_Aug24.pdf">Second Party Opinion</a></li></ul>

UltraTech raises USD 500 million through sustainability-linked financing

Hindalco Industries Limited is the metals flagship company of Aditya Birla Group. It is one of Asia’s largest producers of primary aluminium (excluding China), and with its subsidiary Novelis, a global leader in flat rolled products and the world’s largest recycler of aluminium.In India, Hindalco is the largest aluminium downstream player providing customised solutions in flat rolled products and extruded aluminium solutions.Hindalco is India’s largest copper producer, contributing significantly to India’s domestic refined copper requirements. Its copper facility in India comprises a world-class copper smelter, downstream facilities, and a captive jetty.Hindalco operates across the value chain, from bauxite mining, alumina refining, coal mining, captive power plants, and aluminium smelting to downstream rolling, extrusions, and foils. It serves key sectors such as aerospace and defence, building and construction, electricals, and electronics, automotive and transport, beverage packaging, consumer durables and kitchenware, pharmaceuticals and food packaging, EV and renewables, refractories, and ceramics.Hindalco’s global footprint spans 52 manufacturing units across 10 countries-20 plants in India, and 32 overseas units. Hindalco also operates 23 mines. With a cross-cultural workforce of more than 68,500 people, it remains committed to building an agile, responsive, and productive work environment in line with our strategic priorities of value enhancing growth and strong ESG commitment. &nbsp;<h3>Products</h3>Aluminium<ul><li>Primary aluminium</li><li>Aluminium value added.</li><li>Flat Rolled Products (FRP)</li><li>Extrusions</li><li>Foils and packaging solutions</li><li>Metallurgical alumina &nbsp;</li></ul>Copper<ul><li>Cathodes</li><li>Continuous Cast Rods (CCR)</li><li>Gold and silver</li><li>By-products</li><li>Di-Ammonium Phosphate (DAP)</li><li>Sulphuric acid &nbsp;</li></ul>Chemicals<ul><li>Calcined alumina</li><li>Alumina hydrate</li><li>Sustainability</li></ul> Guided by its purpose of building a Greener, Stronger, Smarter world, Hindalco has made sustainability the backbone of its operations and strategy. Some key initiatives include global-first circular economy solutions that utilise bauxite residue as an industry input rather than waste and pioneering responsible mining through developing India’s first Sustainable Mining Charter. Initiatives for carbon neutrality, water positivity, biodiversity, and zero waste to landfill have contributed to Hindalco being recognised as the world’s most sustainable aluminium company by the Dow Jones Sustainability Indices in 2020 and 2021.&nbsp; Hindalco drives R&amp;D in aluminium solutions because these can play a big role in delivering climate action and sustainable decarbonisation for the nation. We innovated India’s first aluminium trailer, bulker, and bus which can save up to 300 tonnes of carbon per vehicle over their lifetime. We are building new-age rail and transport solutions for freight and passenger transport. We are creating an Aluminium-Air battery that does not require a charging infrastructure.

Robust results supported by strong macros and operational efficiencies<h3>Consolidated PAT at ₹3,074 crore, up 25% YoY</h3>&nbsp;<h3>Q1 FY25 Performance (vs Q1 FY24)</h3><ul><li>Consolidated EBITDA at ₹7,992 crore, up 31% YoY</li><li>Aluminium Upstream EBITDA at ₹3,493 crore, up 81% YoY; Industry-best EBITDA margins at 40%</li><li>All-time high quarterly Copper EBITDA at ₹805 crore, up 52% YoY</li><li>Novelis’ Adjusted EBITDA per tonne at $525*, up 10% YoY</li><li>Consolidated Net Debt to EBITDA at 1.24x as of June 30th, 2024 vs 1.73x as of June 30th, 2023</li></ul>Hindalco Industries Limited, the Aditya Birla Group metals flagship, reported a consolidated quarterly Net Profit of ₹3,074 crore, an increase of 25% YoY, supported by favourable macros, operational efficiencies and lower input costs. Aluminium Upstream EBITDA per tonne was at $1,273, up 84% YoY, with industry-best margins of 40%. Copper Business delivered a new record-breaking performance in Q1, with EBITDA at an all-time high of ₹805 crore, up 52% YoY, backed by higher average copper prices and robust operations.Novelis reported a strong first-quarter performance with EBITDA per tonne at $525*, an increase of 10% compared to last year. Hindalco maintained a solid balance sheet and liquidity position which helped the Company keep the Net Debt to EBITDA ratio below 1.5x.*As per US GAAP&nbsp;<h3>Consolidated Financial Highlights for the Quarter ended June 30, 2024</h3>(Rs. crore)<figure class="table"><table class="ck-table-resized" width="100%"><thead><tr><th colspan="2" valign="middle">Particulars</th><th>Q1FY24</th><th>Q4 FY24</th><th>Q1 FY25</th></tr></thead><tbody><tr><td colspan="2">Revenue from Operations</td><td>52,991</td><td>55,994</td><td>57,013</td></tr><tr><td colspan="2">Earning Before Interest, Tax, Depreciation &amp; Amortisation (EBITDA)</td><td>&nbsp;</td><td>&nbsp;</td><td>&nbsp;</td></tr><tr><td>&nbsp;</td><td>Novelis*</td><td>3,456</td><td>4,270</td><td>4,170</td></tr><tr><td>&nbsp;</td><td>Aluminium Upstream</td><td>1,935</td><td>2,709</td><td>3,493</td></tr><tr><td>&nbsp;</td><td>Aluminium Downstream</td><td>135</td><td>144</td><td>110</td></tr><tr><td>&nbsp;</td><td>Copper</td><td>531</td><td>776</td><td>805</td></tr><tr><td colspan="2">Business Segment EBITDA</td><td>6,057</td><td>7,899</td><td>8,578</td></tr><tr><td>&nbsp;</td><td>Inter Segment Profit/ (Loss) Elimination (Net)</td><td>(1)</td><td>(2)</td><td>(230)</td></tr><tr><td>&nbsp;</td><td>Unallocable Income/ (Expense) - (Net) &amp; GAAP Adjustments</td><td>53</td><td>(696)</td><td>(356)</td></tr><tr><td colspan="2">EBITDA</td><td>6,109</td><td>7,201</td><td>7,992</td></tr><tr><td colspan="2">Finance Costs</td><td>992</td><td>888</td><td>859</td></tr><tr><td colspan="2">PBDT</td><td>5,117</td><td>6,313</td><td>7,133</td></tr><tr><td colspan="2">Depreciation &amp; Amortisation (including impairment)</td><td>1,790</td><td>2,176</td><td>1,957</td></tr><tr><td colspan="2">Share in Profit/ (Loss) in Equity Accounted Investments (Net of Tax)</td><td>2</td><td>(1)</td><td>2</td></tr><tr><td colspan="2">Profit before Exceptional Items and Tax</td><td>3,329</td><td>4,136</td><td>5,178</td></tr><tr><td colspan="2">Exceptional Income/ (Expenses) (Net)</td><td>(12)</td><td>-</td><td>(330)</td></tr><tr><td colspan="2">Profit Before Tax (After Exceptional Item)</td><td>3,317</td><td>4,136</td><td>4,848</td></tr><tr><td colspan="2">Tax</td><td>863</td><td>962</td><td>1,774</td></tr><tr><td colspan="2">Profit/ (Loss) After Tax</td><td>2,454</td><td>3,174</td><td>3,074</td></tr><tr><td style="font-size:10px;" colspan="2">EPS (Rs./share)</td><td>11.05</td><td>14.29</td><td>13.84</td></tr><tr><td colspan="5">As per US GAAP</td></tr></tbody></table></figure>Commenting on the results, Mr. Satish Pai, Managing Director, Hindalco Industries, said,&nbsp;“Our strong Q1 results ride on the back of consistent operational excellence and cost optimization which allowed us to leverage the higher average metal prices.The Copper business achieved its highest quarterly EBITDA is driven by high domestic sales (especially downstream products), healthy by-product credits and better operational efficiencies following a successfully planned shutdown. The Aluminium India Upstream business recorded an 81% growth in EBITDA over the previous year. At 40%, it has registered the highest EBITDA margins globally. Novelis’ EBITDA per tonne at $525, was up 10% YoY, primarily due to increased volumes led by normalized beverage can shipments. Looking ahead, the major capital formation phase of the downstream business is near completion, and from here on, we will explore growth opportunities in the upstream business given our strong cash position.&nbsp;On the ESG front, I am happy to report that we are on track on our roadmap for climate action, waste recycling, water conservation, and biodiversity protection.”&nbsp;<h3>Consolidated Results</h3>Consolidated revenue for the first quarter stood at ₹57,013 crore (vs ₹52,991 crore), up 8%YoY, on account of better realisations and efficiencies in India operations.Hindalco reported an EBITDA of ₹7,992 crore (vs ₹6,109 crore) in Q1 FY25, up 31% YoY, driven by lower input costs and higher volumes.Consolidated PAT in Q1 FY25 was ₹3,074 crore compared to ₹2,454 crore in Q1 FY24, up by 25% YoY. Consolidated Net Debt to EBITDA stood at 1.24x as of June 30th, 2024 vs 1.73x as of June 30th, 2023.&nbsp;<h3>Business Segment Performance in Q1 FY25 (vs Q1 FY24)</h3>Novelis*Total shipments of flat rolled products were at 951 KT in Q1 FY25 vs 879 KT in Q1 FY24, up 8% YoY supported by normalised demand for beverage packaging sheets. Novelis’ revenue in Q1 FY25 stood at $4.2 billion (vs $4.1 billion), up 2% YoY, driven by higher average aluminium prices YoY and higher shipments. Novelis reported an adjusted EBITDA of $500 million (vs $421 million), up 19% YoY supported by higher shipments and favourable product pricing. Novelis’ adjusted EBITDA per tonne at $525 was up 10% YoY. Net income attributable to our common shareholder, was $151 million in Q1 FY25, down 3% YoY due to initial charges associated with flooding at the Sierre plant, Switzerland, caused by unprecedented heavy rainfall in June, as well as higher restructuring and unfavourable metal price lag, largely offset by higher Adjusted EBITDA.&nbsp;The total net cash impact of flooding at the Novelis Sierre plant, after insurance, is estimated at $80 million. The net impact on Adjusted EBITDA is estimated to be $30 million, most of which will occur in the second quarter.Aluminium (India)Quarterly Upstream revenue was ₹8,839 crore in Q1 FY25 vs ₹8,064 crore in the prior year period. Aluminium Upstream EBITDA stood at ₹3,493 crore in Q1 FY25, compared with ₹1,935 crore for Q1 FY24, up 81% YoY supported by lower input costs. Upstream EBITDA margins, at 40%, were the best in the global industry.Downstream revenue was ₹2,868 crore in Q1 FY25 vs ₹2,435 crore in the prior year period. Sales of Downstream Aluminium stood at 96 KT vs 81 KT in Q1 FY24, up 18% YoY. Downstream EBITDA per tonne was $138 in Q1 FY25, compared to $202 for Q1 FY24, down 32% YoY.CopperQuarterly revenue from the Copper Business stood at ₹13,292 crore, up 16% YoY, on account of higher shipments and realisation. EBITDA for the Copper Business was at an all-time high of ₹805 crore in Q1 FY25 compared to ₹531 crore in Q1 FY24, up 52% YoY backed by higher average copper prices and robust operations. Quarterly Copper metal sales were at 119 KT (vs 118 KT). Copper Continuous Cast Rod (CCR) sales were at 100 KT in Q1 FY25 (vs 98 KT), up 2% YoY in line with growing market demand for value-added products.&nbsp;<h3>Business Updates &amp; Recognition</h3><ul><li>Novelis’ Bay Minette project remains on track, expected to be completed by the second half of CY26</li><li>Aditya FRP expansion in Odisha to be commissioned by FY26</li><li>Silvassa extrusions plant ramping up</li><li>Hindalco in the Top 10 of the 'Great Place to Work' list in Health and Wellness for 2024</li><li>Hindalco awarded ‘Masters of Risk’ title in Private Sector – large cap category at the India Risk Management Awards 2024</li></ul>

Hindalco Reports Consolidated First Quarter FY2025 Results

Grasim Industries Limited is the flagship company of Aditya Birla Group. It started as a textiles manufacturer in India in 1947. Today, it has evolved into a leading diversified player with leadership presence across many sectors. It is a leading global producer of Viscose, Diversified Chemicals, Linen Yarn and Fabrics producer in India.&nbsp;The company recently has entered paints business under the brand name ‘Birla Opus’ and would be setting up six plants of manufacturing decorative paints across Pan India locations.&nbsp;Leveraging the Group synergies, Grasim has launched “Birla Pivot”, the B2B online marketplace for building materials. Through its subsidiaries, UltraTech Cement, Aditya Birla Capital and Aditya Birla Renewables, it is also India’s prominent cement producer, leading diversified financial services player and clean energy solutions player.&nbsp;<h3>Grasim has a strong presence in the market through following businesses:</h3>Viscose Staple FibreGrasim is India's pioneer in VSF — a man-made, bio-degradable fibre that is fast emerging as a sustainable alternative to cotton. A versatile fibre, VSF is used in apparel, home textiles, dress materials, knit wears and non-woven applications. Grasim’s business, Birla Cellulose, has a range of fibres which can be used in their original form, or can be blended with all natural and synthetic fibres for enhanced comfort and feel.Starting production in 1954 at Grasim’s Nagda facility, the business has grown steadily over seven decades. The Pulp &amp; Fibre Business of Grasim derives its competitive edge from its integrated business model, with captive raw materials - dissolving grade wood pulp, caustic soda, carbon-disulphide, power generation and steam.Birla Cellulose’s product portfolio includes Livaeco™ by Birla Cellulose, Birla Modal™, Birla Excel™, Birla Viscose™ and Birla Spunshades™. Birla Cellulose fibres are of natural origin, moisture absorbent, have soft feel, and are completely biodegradable.&nbsp;Viscose Filament YarnGrasim Industries Limited is the largest viscose filament yarn (VFY) manufacturer in India and the 3rd largest globally. The company is also the largest VFY exporter in India with exports to 45 countries.VFY business became a part of Grasim Industries Limited on 1st July 2017, following the merger of Aditya Birla Nuvo Limited. Subsequently, Grasim acquired the rights to operate and manage the Century Rayon division of Century Textiles and Industries Limited (CTIL) from 1st February 2018. Since then, Grasim’s VFY production capacity has increased to 48 KTPA.Represented as the brand Raysil® (formerly known as RayOne), VFY is of 100% natural origin and its product portfolio includes 20 deniers to 1200 deniers of both bright and dope dyed viscose filament yarns. Its versatility, superior drape, fluidity and lustre make it a popular choice for manufacturing fabrics such as georgettes, crepes, chiffons, and many more.Grasim’s VFY is manufactured at its twin locations in Shahad, Maharashtra and Veraval, Gujarat.&nbsp;ChemicalsIn 1972, Grasim’s chemicals business was set up to manufacture caustic soda for the company’s VSF unit. Today, it is one of India’s largest caustic soda producers and is a market leader in the chlor-alkali segment. &nbsp;Over the years, Grasim’s chemicals business has created a strong foothold in the industry and offers a wide range of products from chlorine derivatives to epoxy.Chlor-alkali: In 2016, Grasim’s merger with Aditya Birla Chemicals India Ltd. (ABCIL) helped catapult the company’s caustic soda capacity from 452 KTPA to 884 KTPA making it the largest producer of caustic soda in India back then. Today, Grasim’s total caustic soda capacity is 1,290 KTPA. Through brownfield expansion, Grasim plans to expand the caustic soda capacity to 1,530 KTPA from 1,290 KTPA by 2024.The business uses cost-effective membrane cell technology and is largely self-sufficient in power. For gainful utilisation of chlorine, the business has portfolio of chlorine derivatives like Stable Bleaching Powder (SBP), Polyaluminium Chloride (PAC), Chlorosulphonic Acid (CSA), Chlorinated Paraffin Wax (CPW), Calcium Chloride (CaCl), Aluminium Chloride (AlCl) and Chloromethane (CMS).Epoxy: The business’ epoxy products range from basic products like liquid epoxy resins to value added products like formulated resins, reactive diluents and hardeners. The manufacturing complex at Vilayat houses a 123 KTPA capacity epoxy plant. Through expansion, Grasim plans to double the epoxy capacity to 246 KTPA by FY2024.&nbsp;TextilesGrasim ventured into the textiles industry in 1949 by setting up Jaya Shree Textiles at Rishra, West Bengal. Today, Jaya Shree Textiles is one of India’s leading linen and wool manufacturers. It has four strategic business units (SBUs) i.e., linen spinning, linen fabric, wool combing and worsted spinning. Today, Jaya Shree Textiles sells its products in over 50 countries, spanning across six continents.Jaya Shree Textiles has provided the evolving Indian fashion industry with an international edge. Finest flax is sourced from France, Belgium and other parts of Europe to make 100% pure linen. Cutting edge European technology is used to spin the fibres, weave and dye them which makes it unique and difficult to replicate. This superior technology also enables Jaya Shree Textiles to manufacture over 3000 different types of weaves, textures and blends. The company has significantly revolutionised the Indian textile market by popularising linen in India across a wide customer base with its brand ‘Linen Club’.Linen Club is the largest linen fabric brand in India with expertise in linen manufacturing and design, for more than 70 years. Linen Club is the pioneer of linen in India and is now retailed through both exclusive retail outlets and multi-brand outlets. It is the largest linen retail chain in the world.&nbsp;Know more about Linen Club (Link to Linen Club Page)&nbsp;InsulatorsAditya Birla Insulators is India’s largest manufacturer of electrical insulators and is amongst the top four insulator manufacturers globally. It produces the widest range of insulators in India including insulators for transmission lines &amp; substations up to 1200 kV voltage level, as well as equipment &amp; railways. Its total installed manufacturing capacity is 56,400 TPA with specialisation in both ceramic and composite insulators. The company commissioned Composite Hallow Core Insulators (CHCI) plant at Halol which is a joint venture between Aditya Birla Power Composites Limited (ABPCL) with Maschinenfabrik Reinhausen GmbH of Germany in 2019. Know more about Aditya Birla Insulators (Link to Aditya Birla Insulators’s page) and Aditya Birla Power Composites Limited (Link to Composite’s business page)&nbsp;PaintsThrough Birla Opus, Grasim aims to be one of the biggest players in the fast-growing decorative paints industry. It plans to set up six manufacturing plants in Haryana, Punjab, Karnataka, Tamil Nadu, Maharashtra, and West Bengal till FY 2025 with a total capacity of 1,332 MLPA and a project cost of ₹10,000 Crore.The trial run for Birla Opus’s three plants began in the third quarter of FY23-24. It’s painting service, branded as PaintCraft, had completed projects at more than 150 sites by December 2023.&nbsp;&nbsp;B2B E-CommerceBirla Pivot, the B2B e-Commerce platform for building solutions, is a business unit of Grasim Industries Ltd. Birla Pivot will primarily focus on MSMEs in the Building Materials segment with the potential to further extend to other relevant categories. It’s key value proposition is an integrated procurement solution including on-time delivery and a superior product range at competitive pricing.&nbsp; Covering a spectrum of building materials, Birla Pivot aims to become a one-stop destination for all procurement needs. Birla Pivot has already onboarded over 120 brands and 5500+ SKUs (stock keeping units), providing its customers with a diverse range of categories &amp; products. These categories are steel, cement, tiles &amp; surfaces, ply &amp; laminates, doors, windows, sanitary &amp; bath fitting, among others. The platform is rapidly launching across North, West &amp; South India.

<h3>Creating and scaling growth engines for a growing economy</h3>&nbsp;<h3>KEY HIGHLIGHTS – Q1FY25</h3><ul style="list-style-type:disc;"><li>Revenue: Consolidated revenue stood at ₹33,861 Cr., up 9% YoY; TTM revenue at ₹1,33,774 Cr.&nbsp;</li><li>Cement: Added new capacity of 8.7 Mn TPA, taking total grey cement capacity (domestic + overseas) to 154.9 Mn TPA</li><li>Birla Opus: Market presence reached to over 3,300 cities and towns, getting good response from trade channels and consumers&nbsp;</li><li>Financial Services: Total Lending Portfolio* crossed ₹1,25,000 Cr., up 27% YoY</li><li>Cellulosic Staple Fibre: Highest ever quarterly sales volumes at 212 KT, specialty share at 22%</li><li>Chemicals: Speciality Chemicals revenue contribution improved to 30% and Chlorine Integration at highest levels of 65%</li></ul>*Lending Portfolio (NBFC + HFC)Grasim Industries Limited today announced its Financial Results for the quarter ended 30th June 2024. Consolidated revenue stood at ₹33,861 Cr., up by 9% YoY, driven by strong performance from its diversified businesses portfolio. Cellulosic Staple Fibre, Building Materials and Financial Services businesses delivered superior performance.&nbsp;&nbsp;Consolidated EBITDA was lower by 4% at ₹4,760 Cr. This was driven by investments in the Paints business - a reflection of Grasim’s commitment to build strong consumer-facing businesses from scratch, the results of which are in line with expectations. Further, higher depreciation and interest charges on account of new growth businesses has led to lower PAT.&nbsp;<h3>Consolidated Financials</h3><figure class="table"><table class="ck-table-resized" width="100%" border="0"><thead><tr><th>&nbsp;</th><th>Q1FY25</th><th>Q1FY24</th><th>% YoY</th></tr></thead><tbody><tr><td>Revenue</td><td>33,861</td><td>31,065</td><td>9%</td></tr><tr><td>EBITDA</td><td>4,760</td><td>4,981</td><td>(4%)</td></tr><tr><td>PAT^</td><td>1,189</td><td>1,576</td><td>(25%)</td></tr></tbody></table></figure>^owner’s share of PAT excluding exceptional items.&nbsp;<h3>Cellulosic Fibres (Cellulosic Staple Fibre - CSF and Cellulosic Fashion Yarn - CFY)</h3>China CSF prices improved sequentially by 4% to $1.64/kg, although they were lower 2% on a YoY basis. During the quarter, China operating rates remained stable at ~82%, with inventory levels at 12 days. The CSF business experienced its fourth consecutive quarter of YoY growth due to an improving domestic demand scenario and global price trends.CSF business achieved its highest ever quarterly sales volume at 212 KT up 14% YoY. The CFY business recorded marginal volume growth of 2% YoY, due to subdued demand conditions in the downstream value chain and lower priced export into India by from Chinese producers.Revenue for the quarter was at ₹3,787 Cr. up 6% YoY. Segment EBITDA grew by 4% YoY to ₹405 Cr. helped mainly by operating leverage and lower input costs.&nbsp;<h3>Chemicals (Chlor-Alkali, Chlorine Derivatives and Speciality Chemicals)</h3>The International Caustic Soda (CFR-SEA) average spot prices stood at $469/ton in Q1FY25, improving by 13% and 4% YoY and QoQ, respectively. The continued upward trend in global prices led to a marginal QoQ improvement in domestic caustic soda prices due to overcapacity conditions in the domestic markets. ECU realisations improved by 7% QoQ but declined by 4% YoY.&nbsp;The Chemicals business achieved revenue of ₹2,066 Cr., down 4% YoY and 1% QoQ. Speciality Chemicals (epoxy polymers and curing agents) revenue mix improved to 30% for the quarter from 25% in Q1FY24. EBITDA for the Chemicals segment stood at ₹310 Cr. up by 59% QoQ but declined 13% YoY. Profitability improved sequentially on the back of higher caustic soda realisations and improved margins of chlorine derivatives.&nbsp;&nbsp;<h3>Building Materials (Cement, Paints and B2B E-commerce)</h3>The Building Materials business reported revenue of ₹18,701 Cr., up 11% YoY, led by the growth in Cement and ramp-up in revenues from new growth businesses - Paints and B2B E-Commerce. EBITDA stood at ₹2,909 Cr., down 7% YoY mainly due to initial funding of new growth businesses.Consolidated sales volumes of Cement business (UltraTech) grew by 7% YoY to 31.95 MT and ready-mix concrete sales volumes grew by 22% YoY to 3.25 Mn m3. During the quarter, grey cement capacity expanded by 8.7 Mn TPA, taking the total grey cement capacity to 154.9 Mn TPA. The Board of Directors of UltraTech approved the purchase of 32.72% equity stake of the promoters &amp; their associates in India Cements Limited (ICL). UltraTech had made a financial investment in ICL to acquire 22.77% equity in June 2024. Post signing of share purchase agreement and obtaining regulatory approvals for the purchase of equity stake in ICL, UltraTech will pay ₹3,954 Cr. at ₹390/share for buying 32.72% stake in ICL from the promoters &amp; their associates. This has triggered a mandatory open offer, at ₹390/share. The Open Offer will be done subsequently after obtaining all regulatory approvals.&nbsp;The paints business under the brand name ‘Birla Opus’ is ramping up production across product categories at already commissioned three plants. Trial production has also commenced at the Chamarajanagar plant. The first flagship experience store is operational in Mumbai. Media campaign under ‘Make life Beautiful’ was launched with a focus on rapid brand building across all marketing channels. Outreach to influencers (contractors and painters) remains on track. The total Capex for the business is ₹7,795 Cr. till June 2024, ~77% of the planned Capex outlay.Birla Pivot, the B2B E-Commerce business, has achieved a quarterly run-rate revenue of above ₹550 Cr. The business is continuously adding new buyers with a healthy rate of repeat orders. Birla Pivot continues to expand its geographical reach with delivery to 200+ cities across 25 states and union territories.&nbsp;&nbsp;<h3>Financial Services</h3>Financial Services business’ (Aditya Birla Capital), Revenue and EBITDA, as consolidated in accordance with Ind AS, stood at ₹8,807 Cr. and ₹1,058 Cr., registering growth of 25% and 17%, respectively. The overall lending portfolio (NBFC and HFC) increased by 27% YoY and 3% QoQ to ₹1,27,705 Cr. The total AUM (AMC, life insurance and health insurance) grew by 20% YoY to ₹4,62,891 Cr. The D2C platform, Aditya Birla Capital Digital (ABCD), commercially launched in Q1FY25, witnessed strong response with about 8 lakh registrations. Udyog Plus, the B2B platform for the MSME, continues to scale with more than 10 lakh registrations and a total portfolio of ₹2,600 Cr.&nbsp;<h3>Other Businesses (Textiles, Renewables and Insulators)</h3>Revenue from other businesses increased by 6% YoY to ₹798 Cr. and EBITDA at ₹109 Cr. down 16% YoY. In Renewable business cumulative installed capacity increased to 946 MW, up 6% from 894 MW in Mar’24.&nbsp;&nbsp;<h3>Capital Expenditure</h3>Capital expenditure for Q1FY25 stood at ₹983 Cr. The budgeted standalone capex for FY25 is ₹4,553 Cr. of which ~₹3,000 Cr., is towards new growth businesses.&nbsp;&nbsp;<h3>Sustainability</h3>Our Company remains committed to continuously improving its consumption and emission norms. During Q1FY25, the proportion of recycled water consumption to freshwater consumption improved to 54% from 50% in FY24. The share of renewable power consumption in Standalone Businesses stood at 11%. The Company was recognised for its exemplary commitment towards Sustainability at the third edition of the Times Now Sustainable Organization 2024 - Global Sustainability Alliance.&nbsp;<h3>Creating and Scaling growth engines for a growing economy</h3>Grasim with its significant presence across businesses is well positioned to capitalise on the opportunities in diverse sectors of the fast-growing Indian economy. The Government’s continued focus on infrastructure &amp; housing, financialisation and thrust on increasing economic prosperity of the large section of people augurs well for the Company.

Grasim Industries announces Q1 FY25 results

Aditya Birla Capital Limited (“ABCL”) is the holding company for the financial services businesses of the Aditya Birla Group. Through its subsidiaries/JVs, ABCL provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycle. Powered by over 50,000 employees, the businesses of ABCL have a nationwide reach with over 1,505 branches and more than 200,000 agents/channel partners along with several bank partners.As of June 30, 2024, Aditya Birla Capital Limited manages aggregate assets under management of Rs. 4.63 Lakh Crore with a consolidated lending book of Rs 1.27 Lakh Crore through its subsidiaries/JVs.Aditya Birla Capital Limited is a part of the US$66 billion global conglomerate Aditya Birla Group, which is in the league of Fortune 500. Anchored by an extraordinary force of over 187,000 employees belonging to 100 nationalities, the Group is built on a strong foundation of stakeholder value creation. With over seven decades of responsible business practices, the Group’s businesses have grown into global powerhouses in a wide range of sectors - from metals to cement, fashion to financial services and textiles to trading. Today, over 50% of the Group’s revenues flow from overseas operations that span over 40 countries in North and South America, Africa, Asia, and Europe.&nbsp;<h3>Aditya Birla Capital Limited is the holding company of all the following financial services businesses:</h3><ul><li>Aditya Birla Finance Limited&nbsp;</li><li>Aditya Birla Health Insurance Limited&nbsp;</li><li>Aditya Birla Housing Finance Limited&nbsp;</li><li>Aditya Birla Insurance Brokers Limited&nbsp;</li><li>Aditya Birla Money&nbsp;</li><li>Aditya Birla Sun Life Asset Management Company&nbsp;</li><li>Aditya Birla Sun Life Insurance&nbsp;</li><li>Aditya Birla Sun Life Mutual Fund&nbsp;</li><li>Aditya Birla Sun Life Pension Management Limited&nbsp;</li><li>Aditya Birla Asset Reconstruction Company Limited&nbsp;</li></ul>&nbsp;<h3>Products</h3>Finance<ul><li>Home finance&nbsp;</li><li>Personal finance&nbsp;</li><li>SME finance&nbsp;</li><li>Real estate finance&nbsp;</li><li>Project finance&nbsp;</li><li>Loan again securities&nbsp;</li><li>Corporate finance&nbsp;</li><li>Debt capital market&nbsp;</li><li>Loan syndication</li></ul>&nbsp;Asset management<ul><li>Mutual funds&nbsp;</li><li>Wealth</li><li>Stocks and securities&nbsp;</li><li>Private equity&nbsp;</li><li>PMS&nbsp;</li><li>Real estate investment&nbsp;</li><li>Pension funds</li></ul>&nbsp;Insurance<ul><li>Life insurance&nbsp;</li><li>Health insurance&nbsp;</li><li>Motor insurance&nbsp;</li><li>Corp general insurance&nbsp;</li><li>Travel insurance</li></ul>&nbsp;Advisory<ul><li>Money advise tool</li></ul>

<ul><li>Consolidated PAT1: Rs.745 crore (↑15% y-o-y)</li><li>Consolidated Revenue1,2: Rs.10,258 crore (↑26% y-o-y)</li><li>NBFC AUM: Rs.1.07 lakh crore (↑25% y-o-y)</li><li>HFC AUM: Rs.20,399 crore (↑41% y-o-y)</li><li>Mutual fund quarterly average AUM crossed &nbsp;Rs.3.5 lakh crore (↑ 19% y-o-y)</li><li>Life insurance total premium: Rs.3,986 crore (↑ 28% y-o-y)</li><li>Health insurance gross written premium: Rs.1,041 crore (↑ 35% y-o-y)</li><li>Udyog Plus, B2B platform for MSMEs crossed Rs.2,600 crore AUM till date</li></ul>&nbsp;(Rs. crore)<figure class="table"><table class="ck-table-resized" width="100%"><thead><tr><th>Particulars</th><th>Q1 FY24</th><th>Q1 FY25</th><th>Y-o-Y&nbsp;&nbsp; growth</th></tr></thead><tbody><tr><td>Consolidated revenue1,2</td><td>8,144</td><td>10,258</td><td>26%</td></tr><tr><td>Consolidated profit after Tax1 (after minority interest and excluding one-off items)</td><td>649</td><td>745</td><td>15%</td></tr><tr><td>Reported profit after tax</td><td>649</td><td>759</td><td>17%</td></tr></tbody></table></figure>Aditya Birla Capital Limited (“The Company”) announced its unaudited financial results for the quarter ended June 30, 2024.The consolidated profit after tax, excluding one-off items, grew 15% year-on-year to Rs.745 crore. The consolidated revenue 1,2 grew by 26% year-on-year to Rs.10,258 crore. The overall lending portfolio (NBFC and HFC) grew by 27% year-on-year to Rs.1,27,705 crore as of June 30, 2024. The total AUM (AMC, life insurance and health insurance) grew by 20% year-on-year to Rs.4,62,891 crore. The total premium (life and health insurance) grew by 30% year-on-year to Rs.5,027 crore.The Company’s omnichannel architecture allows customers to choose the channel of their choice and interact seamlessly across digital platforms, branches and VRMs, fostering engagement and loyalty. During the quarter, the Company commercially launched its D2C platform, ABCD which offers a comprehensive portfolio of more than 20 products and services such as payments, loans, insurance, and investments. Its unique feature of ‘My Track’ helps users track their personal finance, credit history and health. It allows customers to fulfil their financial needs and serves as an acquisition engine for the Company. The platform has witnessed a strong response with about 8 lakh registrations to date.The comprehensive B2B platform for the MSME ecosystem, Udyog Plus, offers a seamless, paperless digital journey for business loans, supply chain financing and a host of other value-added services. It continues to scale up quite well with more than 10 lakh registrations. The Company is also seeing an increased adoption from its existing customers, and as a result, the total portfolio of Udyog Plus has crossed Rs.2,600 crore.The Company has a Pan-India presence of 1,505 branches across all businesses as of June 30, 2024. The branch expansion is targeted at driving penetration into tier 3 and tier 4 towns and new customer segments.&nbsp;<h3>Highlights of NBFC Business</h3><ul><li>AUM grew by 25% year-on-year to Rs.1,07,306 crore</li><li>Loans to Retail, SME and HNI customers constitute 66% of the total portfolio</li><li>Profit before tax grew by 21% year-on-year to Rs.833 crore</li><li>Return on assets was at 2.41%</li><li>Return on equity grew by 29 basis points sequentially to 16.13%</li><li>Gross stage 2 and 3 ratio improved by 4 basis points sequentially and 101 basis points year-on-year to 4.45%</li></ul>&nbsp;<h3>Highlights of Housing Finance Business</h3><ul><li>Disbursements grew by 89% year-on-year to Rs.3,068 crore</li><li>AUM grew by 11% sequentially and 41% year-on-year to Rs.20,399 crore</li><li>Profit before tax was 85 crore</li><li>Return on assets was 1.44% and return on equity was 11.04%</li><li>Gross stage 2 and 3 ratio improved by 27 basis points sequentially and 214 basis points year-on-year to 2.64%</li></ul>&nbsp;<h3>Highlights of Asset Management Business</h3><ul><li>Mutual fund quarterly average assets under management (QAAUM) grew by 6% sequentially and 19% year-on-year to&nbsp;Rs.3,52,542 crore, with equity mix at ~ 46%</li><li>Equity QAAUM grew by 37% year-on-year to Rs.1,62,129 crore</li><li>Individual monthly average assets under management grew by 24% year-on-year to&nbsp;Rs.1,85,681 crore</li><li>Monthly systematic investment plan (SIP) flows grew by 39% year-on-year to Rs.1,367 crore in June 2024</li><li>Profit before tax grew by 27% year-on-year to Rs.305 crore</li></ul>&nbsp;<h3>Highlights of Life Insurance Business</h3><ul><li>Individual First Year Premium (FYP) grew by 19% year-on-year to Rs.644 crore</li><li>Group new business premium grew by 41% year-on-year to Rs.1,498 crore</li><li>Renewal premium grew 17% year-on-year to Rs.1,681 crore</li><li>13th month persistency continued to improve at 88% in June 2024 (June 2023: 87%)</li><li>61st month persistency was strong at 66% in June 2024 (June 2023: 57%)</li><li>Net VNB margin was 6.50%</li></ul>&nbsp;<h3>Highlights of Health Insurance Business</h3><ul><li>Gross written premium (GWP) grew by 35% year-on-year to&nbsp;&nbsp; 1,041 crores, with Retail premium growth at 51% year-on-year</li><li>Market share among standalone health insurers (SAHI) increased by 92 basis points year-on-year to 12.5%</li><li>Combined ratio improved to 112% from 118% in Q1 FY24</li></ul>

Aditya Birla Capital Limited announced its unaudited financial results for the quarter ended June 30, 2024

At its meeting held today, the Board of Directors of UltraTech approved the purchase of a 32.72% equity stake of the promoters &amp; their associates in India Cements Limited.UltraTech made a financial investment in India Cements to acquire 22.77% equity for Rs 268 per share in June 2024. Post this financial investment, the promoter group approached us as they wanted to sell their holding in the company, and we found it appropriate to acquire their stake in the company.India Cements has a total capacity of 14.45 mtpa of grey cement. Of this, 12.95 mtpa is in the South (particularly Tamil Nadu) and 1.5 mtpa is in Rajasthan. The transaction is subject to regulatory approvals.With the signing of the SPA and obtaining regulatory approvals, UltraTech will pay Rs. 3,954 crores at Rs. 390/ share for buying a 32.72% stake in India Cements from the promoters &amp; their associates. This will trigger a mandatory open offer, at Rs 390/ share. The Open Offer will be done subsequently after obtaining all regulatory approvals.Mr. Kumar Mangalam Birla, Chairman, of Aditya Birla Group, said, “UltraTech Cement’s investments over the years, both organic and inorganic, have been designed to propel India to become a building solutions champion globally. Every investment in a core sector like cement accelerates economic activity and drives progress. These investments have also facilitated India’s nationwide infrastructure upgrade, powering our country’s growing need for housing, roads, and other vital infrastructure. This, in turn, has had a tremendous impact on the lives and aspirations of people.” He added, “The India Cements opportunity is an exciting one as it enables UltraTech to serve the Southern markets more effectively and also accelerates our path to 200+ MTPA capacity”

UltraTech’s Board approves purchase of 32.72% promoters’ stake in India Cements

Aditya Birla Group’s cement flagship, UltraTech Cement Ltd, has reported a robust quarterly performance for Q1FY25. Consolidated Net Sales stood at Rs. 17,879 crores vis-à-vis Rs. 17,519 crores over the corresponding period of the previous year. Profit before interest, depreciation and tax was Rs. 3,205 crores compared to Rs. 3,223 crores. Profit after tax was Rs. 1,697 crores compared to Rs. 1,688 crores.Some of the key highlights of the quarter are as follows:<ul><li>Domestic sales volume registered 6% growth y-o-y.</li><li>Energy costs were lower by 17% yoy, mainly on account of reduced fuel prices.</li><li>Raw material costs marginally rose by 1%, attributable to the increase in the price of fly ash and slag.</li><li>UltraTech commenced 23 MW of WHRS capacity during the quarter. With this, the company’s total WHRS capacity stands augmented to 301 MW.</li><li>The share of green power (including WHRS and RE Power) in the Company’s power mix is 29.4%.</li><li>After successfully commissioning 13.3 mtpa capacity of grey cement during FY24, the Company has added a further 8.7 mtpa capacity during the quarter.</li><li>With the ongoing expansions across locations and the proposed acquisition of the Cement Business of Kesoram Industries, UltraTech’s grey cement capacity will stand augmented to 199.6 mtpa, including its overseas capacity of 5.4 mtpa.</li></ul>&nbsp;<h3>Financial results: Q1FY25</h3>The table below captures the financial performance at a glance.(Rs. in crores)<figure class="table"><table class="ck-table-resized" width="100%"><colgroup><col style="width:20.85%;"><col style="width:15.92%;"><col style="width:15.24%;"><col style="width:20.47%;"><col style="width:27.52%;"></colgroup><thead><tr><th>Particulars</th><th colspan="2">Consolidated</th><th colspan="2">Standalone</th></tr></thead><tbody><tr><td>&nbsp;</td><td>Q1FY25</td><td>Q1FY24</td><td>Q1FY25</td><td>Q1FY24</td></tr><tr><td>Net Sales</td><td>17,879</td><td>17,519</td><td>17,334</td><td>17,007</td></tr><tr><td>PBIDT</td><td>3,205</td><td>3,223</td><td>3,160</td><td>3,209</td></tr><tr><td>PAT</td><td>1,697</td><td>1,688</td><td>1,708</td><td>1,714</td></tr></tbody></table></figure>

UltraTech Q1FY25 PAT at Rs. 1697 Cr | Volume Growth of 6% YoY

ABFRL is part of a leading Indian conglomerate, Aditya Birla Group. With revenue of US$ 1.7 billion and spanning a retail space of 11.9 million sq.ft. (as on March 31, 2024), Aditya Birla Fashion and Retail Limited (ABFRL) is India's first billion-dollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats.ABFRL emerged after the consolidation of the branded apparel businesses of Aditya Birla Group comprising ABNL's Madura Fashion division and ABNL's subsidiaries - Pantaloons Fashion and Retail (PFRL) and Madura Fashion &amp; Lifestyle (MFL) in May 2015. Post the consolidation, PFRL was renamed Aditya Birla Fashion and Retail Ltd.ABFRL brings together the learnings and businesses of two renowned Indian fashion icons, Madura Fashion &amp; Lifestyle and Pantaloons creating a synergistic core that will act as the nucleus of the future fashion businesses of Aditya Birla Group.As a fashion conglomerate, ABFRL has a strong network of 4664 brand stores across the country. It is present across 37,205 multi-brand outlets and 9,563+ shop in shop across India as on March 31, 2024.It has a repertoire of leading brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England established for over 25 years. Pantaloons is one of India's leading fashion retailers.ABFRL's International Brands portfolio includes - The Collective – India's largest multi-brand retailer of international brands. ABFRL has long-term exclusive partnerships with select brands such as Ralph Lauren, Hackett London, Simon Carter, Ted Baker, Fred Perry, Forever 21, American Eagle, Reebok and Galeries Lafayette.The Company’s Van Heusen Innerwear, Athleisure and Activewear is establishing itself as India's most innovative and fashionable brand. ABFRL’s foray into branded ethnic wear business includes brands such as Jaypore, Tasva &amp; Marigold Lane. ABFRL also has strategic partnerships with leading Indian designers including 'Shantnu &amp; Nikhil', 'Tarun Tahiliani', 'Sabyasachi' and 'House of Masaba'.In addition, to cater to the needs of digitally native consumers, ABFRL is building a portfolio of digital-first brands under its technology-led ‘House of D2C Brands’ venture - TMRW. TMRW is on a path to building a portfolio of digital-first brands in partnership with founders of emerging brands in the eCommerce market. With a focus on Fashion &amp; Lifestyle categories, TMRW is building a portfolio of the most loved consumer brands that tap into the significant growth potential in India and globally.

With this investment, TMRW’s portfolio now consists of 8 high-value Indian fashion brands<a target="_blank" rel="noopener noreferrer" href="https://www.tmrw.in/">TMRW House of Brands, an Aditya Birla Group Venture</a>, announced the expansion of its portfolio with an INR 125Cr investment in Accel and <a target="_blank" rel="noopener noreferrer" href="https://wrogn.com/">Virat Kohli backed WROGN</a>, over the next year. Founded in 2014, by the brother-sister duo of Anjana and Vikram Reddy, WROGN has been one of the leading youth brands in India in the casual wear space. With this investment, TMRW added another leading millennial-focused Fashion &amp; Lifestyle brand with a premium and distinctive design positioning, making the overall portfolio of 8 high-value Indian fashion&nbsp;brands.Since its inception, WROGN has gained popularity in India, particularly among the youth, due to its trendy designs, quality, and association with Virat Kohli, one of India's most prominent and influential cricketers. The brand has also expanded its presence through online and offline retail channels, having a loyal customer base across the country. With the partnership with TMRW, WROGN is ready to unlock its next phase of omnichannel growth. Apart from strengthening its leadership position on fashion platforms like Myntra, this partnership will help expand its offline footprint while providing impetus to scaling up the D2C business. With TMRW’s investment and capabilities, WROGN has a path to become the leading brand in the men's casual &amp; activewear category with a path to 1500 Crs in the next 5 years.Anjana &amp; Vikram Reddy, Founders of WROGN expressed their enthusiasm for the collaboration, stating, “From the outset, we have always questioned the norms and looked beyond the conventional. WROGN was built with the same go-getter attitude, striving for excellence, and delivering high-quality fashion to all. Now, as we partner with TMRW, we are excited to take the significant leap forward in the journey we've always envisioned. Together, we are ready to disrupt the fashion industry in a never-seen-before way.”Speaking about the latest addition to the house of brands, Prashanth Aluru, CEO and Co-founder of TMRW said, “I am thrilled to welcome WROGN to the TMRW House of Brands. Over the years WROGN has carved a leadership position for itself&nbsp;with excellent product-market fit along with disruptive brand building. Talk about celebrity-led Indian fashion brands and WROGN will easily be the first on your mind. With the deep category &amp; brand building experience as well as the tech-led scaling path that TMRW brings, we are confident that we will be able to elevate WROGN to an iconic status! As strategic partners to their blitz scaling journey ahead, we are deeply committed to the collaboration with Anjana &amp; Vikram who have demonstrated phenomenal capabilities as founders &amp; leaders.'Virat Kohli's association with WROGN reflects his interest in fashion and his desire to engage with his fan base beyond cricket. He has become synonymous with WROGN, resonating with customers through his distinct style and personality. Speaking of the partnership, Indian Cricketer, Virat Kohli, said, “Success in a game of cricket as well as in a business venture is guaranteed when the entire team plays to win. Joining forces with Anjana and Vikram has been nothing short of successful with the amazing teamwork done to raise the bar in fashion. And now, TMRW’s partnership brings an exhilarating new chapter for us, as we share a goal to revolutionize the fashion industry. I am thrilled about the incredible journey ahead and confident that we will reach remarkable heights together.”Mahendran Balachandran, Partner at Accel said, “WROGN has created a highly differentiated brand in the competitive world of retail fashion. Anjana and Vikram are visionary founders who have been able to identify the right partnerships to create disruptive outcomes. We are excited about this new collaboration that will bring all-round synergies to take WROGN to the next level.”As per a recent report by TMRW X Bain &amp; Company, the fashion and lifestyle space is India’s second largest consumer category, valued at $110 billion with approximately 10% online at $11 billion. The online fashion market overall is expected to grow to approximately $35 billion by the financial year 2028 (FY28) at a 25% CAGR. E-commerce has democratized access to fashion, including fashion brands. The category has seen around 30% historical growth, compounded annually, since 2019. TMRW House of Brands with its existing expertise and strong legacy is primed to make the most of this opportunity &amp; foster growth for its brands across fashion and lifestyle categories.

TMRW House of Brands makes the right move with INR 125 Cr investment in Accel and Virat Kohli backed WROGN

Margins and volumes drive strong performance across business segmentsConsolidated PAT for Q4 FY24 at ₹3,174 crore, up 32% YoY&nbsp; Record metal shipments in both Aluminium and Copper&nbsp;<h3>Q4 FY24 Performance (vs Q4 FY23)</h3><ul><li>Consolidated EBITDA at ₹7,201 crore, up 24% YoY</li><li>Aluminium Upstream EBITDA at ₹2,709 crore, up 24% YoY; Industry-best EBITDA margins at 32%</li><li>All-time high quarterly Copper EBITDA at ₹776 crore, up 30% YoY</li><li>Novelis' Adjusted EBITDA per tonne at $540*, up 25% YoY</li></ul>&nbsp;<h3>FY24 Performance (vs FY23)</h3><ul><li>Consolidated PAT at ₹10,155 crore, up 1%</li><li>Consolidated EBITDA at ₹25,728 crore, up 7%</li><li>All-time high Copper EBITDA at ₹2,616 crore, up 16%</li><li>All-time high metal sales volumes in aluminium of 1,372 KT up by 2%, and copper at 506 KT, up 15%</li><li>Hindalco-Novelis in the top 1% S&amp;P Global ESG score in the Aluminium Industry</li><li>Consolidated Net Debt to EBITDA at 1.21x as of March 31st, 2024 vs 1.39x a year ago</li><li>Board recommends dividend @350%(₹3.5/share) for FY24 vs 300%(₹3/share) for FY23</li></ul>*As per US GAAPHindalco Industries Limited, the Aditya Birla Group metals flagship, reported a consolidated quarterly Net Profit of ₹3,174 crores, an increase of 32% YoY, driven by robust performance and improved margins across all business segments. Novelis reported a strong fourth quarter performance with EBITDA per tonne at $540*, up 25% YoY.Copper Business delivered a new record-breaking performance in Q4, with EBITDA at an all-time high of ₹776 crore, up 30% YoY, backed by record sales. Aluminium Upstream EBITDA margins at 32% were the best in the industry, globally. Hindalco maintained a strong balance sheet and liquidity position which helped the company keep the Net Debt to EBITDA ratio below 2x.&nbsp;<h3>Consolidated Financial Highlights for the Quarter and Year ended March 31, 2024</h3>(Rs. crore)<figure class="table"><table class="ck-table-resized" width="100%"><thead><tr><th colspan="2">Particulars</th><th>Q4 FY23</th><th>Q3 FY24</th><th>Q4 FY24</th><th>FY23</th><th>FY24</th></tr></thead><tbody><tr><td colspan="2">Revenue from Operations</td><td>55,857</td><td>52,808</td><td>55,994</td><td>2,23,202</td><td>2,15,962</td></tr><tr><td colspan="2">Earning Before Interest, Tax, Depreciation &amp; Amortisation (EBITDA)</td><td>&nbsp;</td><td>&nbsp;</td><td>&nbsp;</td><td>&nbsp;</td><td>&nbsp;</td></tr><tr><td>&nbsp;</td><td>Novelis*</td><td>3,314</td><td>3,783</td><td>4,270</td><td>14,543</td><td>15,507</td></tr><tr><td>&nbsp;</td><td>Aluminium Upstream</td><td>2,192</td><td>2,443</td><td>2,709</td><td>8,402</td><td>9,161</td></tr><tr><td>&nbsp;</td><td>Aluminium Downstream</td><td>112</td><td>103</td><td>152</td><td>627</td><td>573</td></tr><tr><td>&nbsp;</td><td>Copper</td><td>598</td><td>656</td><td>776</td><td>2,253</td><td>2,616</td></tr><tr><td colspan="2">Business Segment EBITDA</td><td>6,216</td><td>6,985</td><td>7,907</td><td>25,825</td><td>27,857</td></tr><tr><td>&nbsp;</td><td>Inter Segment Profit/ (Loss) Elimination (Net)</td><td>(58)</td><td>(47)</td><td>(2)</td><td>414</td><td>(60)</td></tr><tr><td>&nbsp;</td><td>Unallocable Income/ (Expense) - (Net) &amp; GAAP Adjustments</td><td>(340)</td><td>(616)</td><td>(704)</td><td>(2,108)</td><td>(2,069)</td></tr><tr><td colspan="2">EBITDA</td><td>5,818</td><td>6,322</td><td>7,201</td><td>24,131</td><td>25,728</td></tr><tr><td colspan="2">Finance Costs</td><td>986</td><td>944</td><td>888</td><td>3,646</td><td>3,858</td></tr><tr><td colspan="2">PBDT</td><td>4,832</td><td>5,378</td><td>6,313</td><td>20,485</td><td>21,870</td></tr><tr><td colspan="2">Depreciation &amp; Amortisation (including impairment)</td><td>1,995</td><td>2,051</td><td>2,176</td><td>7,294</td><td>7,881</td></tr><tr><td colspan="2">Share in Profit/ (Loss) in Equity Accounted Investments (Net of Tax)</td><td>2</td><td>1</td><td>(1)</td><td>9</td><td>2</td></tr><tr><td colspan="2">Profit before Exceptional Items and Tax</td><td>2,839</td><td>3,328</td><td>4,136</td><td>13,200</td><td>13,991</td></tr><tr><td colspan="2">Exceptional Income/ (Expenses) (Net)</td><td>-</td><td>-</td><td>-</td><td>41</td><td>21</td></tr><tr><td colspan="2">Profit Before Tax (After Exceptional Item)</td><td>2,839</td><td>3,328</td><td>4,136</td><td>13,241</td><td>14,012</td></tr><tr><td colspan="2">Tax</td><td>428</td><td>997</td><td>962</td><td>3,144</td><td>3,857</td></tr><tr><td colspan="2">Profit/ (Loss) After Tax</td><td>2,411</td><td>2,331</td><td>3,174</td><td>10,097</td><td>10,155</td></tr><tr><td style="font-size:10px;" colspan="2">EPS (Rs./share)-Basic</td><td>10.85</td><td>10.50</td><td>14.29</td><td>45.42</td><td>45.71</td></tr></tbody></table></figure>*As per US GAAPCommenting on the results, Mr. Satish Pai, Managing Director, Hindalco Industries, said, "Hindalco concluded the year with very strong results across all business segments. This was a clear testament to our strategic focus on value-added products and margin improvement. The Copper business has grown to become the 2nd largest in the world for Copper rods (excluding China). It achieved its best-ever performance with sales crossing 500,000 tonnes for the first time, and an all-time high EBITDA for the quarter and the year. Similarly, the Aluminium India Upstream Business reported industry-best quarterly EBITDA margins of 32%, driven by higher volumes and cost optimisation. Our continued focus on enhancing the share of the downstream segment is evident in its promising sales trajectory. Novelis demonstrated an improved EBITDA per tonne driven by lower operating costs, favourable metal benefits and market recovery.We continue to maintain a strong balance sheet and solid liquidity even after repaying ₹5,195 crore of debt in Hindalco India business during the year. This positions us well to stay on our growth track and drive our future organic growth plans with prudent capital allocation.On the ESG front, our large-scale renewable and energy storage projects have put us well on track for our climate action targets, and we have further advanced our initiatives in waste recycling, protecting biodiversity and water conservation.”&nbsp;<h3>Consolidated Results</h3>Consolidated revenue for the fourth quarter stood at ₹55,994 crore (vs ₹55,857 crore), flat YoY and up 6% QoQ, on account of better realisations and volumes in India operations.Hindalco reported an EBITDA of ₹7,201 crore (vs ₹5,818 crore) in Q4 FY24, up 24% YoY, driven by lower input costs and higher volumes. On a sequential basis, EBITDA was up 14% driven by better performance of India Aluminium, Copper and Novelis.Consolidated PAT in Q4 FY24 was ₹3,174 crore compared to ₹2,411 crore in Q4 FY23, up by 32% YoY, and up 36% QoQ. Consolidated Net Debt to EBITDA stood at 1.21x as of March 31st, 2024 vs 1.39x as of March 31st, 2023.&nbsp;<h3>Business Segment Performance in Q4 FY24 (vs Q4 FY23)</h3>Novelis*Total shipments of flat rolled products were at 951 KT in Q4 FY24 vs 936 KT in Q4 FY23, up 2% YoY, and up 5% QoQ supported by stronger demand for beverage packaging and record automotive shipments. Novelis’ revenue in Q4 FY24 stood at $4.1 billion (vs $4.4 billion), down 7% YoY, impacted by lower average aluminium prices YoY. Novelis reported an adjusted EBITDA of $514 million (vs $403 million), up 28% YoY, and up 13% QoQ supported by favourable metal benefits from recycling and lower operating costs. Novelis’ adjusted EBITDA per tonne at $540 was up 25% YoY, and up 8% sequentially. Net income from continuing operations, excluding special items, was $179 million in Q4 FY24, up 2% YoY, and up 3% QoQ.Aluminium (India)Quarterly Upstream revenue was ₹8,469 crore in Q4 FY24 vs ₹8,050 crore in the prior year period. Aluminium Upstream EBITDA stood at ₹2,709 crore in Q4 FY24, compared with ₹2,192 crore for Q4 FY23, up 24% YoY, and up 11% QoQ supported by lower input costs. Upstream EBITDA margins, at 32%, were the best in the global industry.Downstream revenue was ₹2,920 crore in Q4 FY24 vs ₹2,738 crore in the prior year period. Sales of Downstream Aluminium stood at 105 KT vs 90 KT in Q4 FY23, up 17% YoY, and up 16% sequentially. Downstream EBITDA per tonne was $174 in Q4 FY24, compared to $152 for Q4 FY23, up 15% YoY and up 27% QoQ.CopperQuarterly revenue from the Copper Business stood at ₹13,424 crore, up 20% YoY, on account of higher volumes. EBITDA for the Copper Business was at an all-time high of ₹776 crore in Q4 FY24 compared to ₹598 crore in Q4 FY23, up 30% YoY, and up 18% QoQ backed by stable operations, higher domestic sales and better Tc/Rc. Quarterly Copper metal sales were at 135 KT (vs 119 KT). Copper Continuous Cast Rod (CCR) sales were at 98 KT in Q4 FY24 (vs 95 KT), up 3% YoY in line with growing market demand for value-added products.*As per US GAAP&nbsp;<h3>Business Updates &amp; Recognition</h3><ul><li>Novelis' Bay Minette, US project on track, expected to be completed by the second half of CY26</li><li>Novelis' recycled content at 63% in FY24, compared to 61% in fiscal 2023</li><li>India's first Copper Inner Grooved Tubes (IGT) plant to be commissioned by the end of CY24</li><li>First in India to achieve BIS Certification for Copper Wire Rods (IS 12444:2020)</li><li>The Indian Coast Guard and Hindalco ink MoU to facilitate the production and supply of indigenous marine-grade aluminium for ship construction across Indian public and private shipyards</li><li>Hindalco-Novelis in the top 1% S&amp;P Global ESG score in the Aluminium Industry</li></ul>

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