Berger Paints and Hindalco Ltd – Quarterly Results

Berger Paints

Berger Paints reported 93.23% growth in sales revenues for the Jun-21 quarter at Rs.1,799 crore. Net profits for the Jun-21 quarter was up 9-fold at Rs.141 crore. While COVID 2.0 has had an impact on sequential sales, the YoY growth is extremely strong. Berger’s traction comes from its focus on the decorative paints segment with emphasis on total home solutions, which promises a higher wallet share of the customer.

 

Rs in Crore

Jun-21

Jun-20

YOY

Mar-21

QOQ

Total Income (Rs cr)

₹ 1,798.49

₹ 930.76

93.23%

₹ 2,026.09

-11.23%

Net Profit (Rs cr)

₹ 140.59

₹ 15.42

811.74%

₹ 208.59

-32.60%

Diluted EPS (Rs)

₹ 1.45

₹ 0.16

 

₹ 2.15

 

Net Margins

7.82%

1.66%

 

10.30%

 

 

For the Jun-21 quarter, Berger saw sharp expansion in EBITDA with the standalone EBITDA expanding 94.5% and consolidated EBITDA expanding 159%. Higher sales ensured economies of scale and better absorption of fixed costs overheads, boosting profits. EBITDA margins were 13.3% on a consolidated basis with net margins at 7.28% in the Jun-21 quarter.

Hindalco Ltd reported 63.58% growth in sales for the Jun-21 quarter at Rs.41,358 crore. The onset of COVID 2.0 had an impact on sequential growth, but it was still positive. Net profit for the Jun-21 quarter-turned around to a record level of Rs.2,787 crore against losses of Rs-709 crore in the Jun-20 quarter. Among the verticals, Novelis grew 54% YoY, domestic aluminium showed growth of 41% while copper grew 134%. Novelis total shipments were up 26% at 973KT while Aluminium India output grew 137% at 82KT. EBITDA per ton for Novelis spurted from $327 to $570 on YoY basis.
 

Rs in Crore

Jun-21

Jun-20

YOY

Mar-21

QOQ

Total Income (Rs cr)

₹ 41,358

₹ 25,283

63.58%

₹ 40,507

2.10%

Net Profit (Rs cr)

₹ 2,787

₹ -709

N.A.

₹ 1,928

44.55%

Diluted EPS (Rs)

₹ 12.51

₹ -3.19

 

₹ 8.66

 

Net Margins

6.74%

-2.80%

 

4.76%

 

 

Hindalco EBITDA was up 188% YoY at Rs.6,790 crore, another all-time record. While the Novelis EBITDA was up 119% at $555 million, the India business reported 121% growth in EBITDA at Rs.2,513 crore. Domestic aluminium EBITDA margins stood at 37.50%. The net margins for Jun-21 quarter at 6.74% was also supported by deleveraging which improved the Net debt to EBITDA ratio from 3.83X to 2.36X.

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