Novelis’ preliminary Q3 report looks bearish, impacting Hindalco’s recent stock price
Novelis, the global leader in aluminium rolling and recycling and a wholly owned subsidiary of Hindalco has released a preliminary financial report for the third quarter of FY2024-25, outlining its anticipated fiscal and operational performance for the three-month period.
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Novelis believes its earnings before interest, tax, depreciation and amortization (EBITDA) on an adjusted basis to be between $360-370 million, reflecting about a 21 per cent decline from $454 million recorded during the corresponding period of the previous year. EBITDA for the same period is estimated to range between $400 and $407 per tonne, down by 18-19 per cent Y-o-Y from $499 per tonne.
Aluminium flat rolled products shipments are…
