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Hindalco Industries

-----------------
-- in Rs. Cr.
-----------------
Balance Sheet --
Mar '06 Mar '07 Mar '08 Mar '09 Mar '10

12 mths 12 mths 12 mths 12 mths 12 mths

Sources Of Funds
Total Share Capital 98.57 104.33 122.65 170.46 191.37
Equity Share Capital 98.57 104.33 122.65 170.05 191.37
Share Application Money 0 0 139.5 3.17 3.99
Preference Share Capital 0 0 0 0.41 0
Reserves 9,507.69 12,313.71 17,173.67 23,584.69 27,715.61
Revaluation Reserves 0 0 0 0 0
Networth 9,606.26 12,418.04 17,435.82 23,758.32 27,910.97
Secured Loans 2,848.05 6,410.20 6,205.42 5,713.23 5,153.90
Unsecured Loans 2,055.39 958.4 2,123.16 2,611.06 1,203.00
Total Debt 4,903.44 7,368.60 8,328.58 8,324.29 6,356.90
Total Liabilities 14,509.70 19,786.64 25,764.40 32,082.61 34,267.87
Mar '06 Mar '07 Mar '08 Mar '09 Mar '10

12 mths 12 mths 12 mths 12 mths 12 mths

Application Of Funds
Gross Block 10,418.25 11,252.66 12,608.46 13,393.07 13,793.35
Less: Accum. Depreciation 3,635.45 4,245.95 4,799.12 5,506.10 6,058.53
Net Block 6,782.80 7,006.71 7,809.34 7,886.97 7,734.82
Capital Work in Progress 832.92 1,476.43 1,119.87 1,389.63 3,702.79
Investments 3,971.31 8,675.32 14,107.99 19,148.84 21,480.83
Inventories 4,095.09 4,315.31 5,097.91 4,070.14 5,921.41
Sundry Debtors 1,248.40 1,504.50 1,565.02 1,201.22 1,311.87
Cash and Bank Balance 248.15 187.45 131.05 213.48 139.96
Total Current Assets 5,591.64 6,007.26 6,793.98 5,484.84 7,373.24
Loans and Advances 1,054.29 1,360.86 1,116.35 1,709.16 1,588.62
Fixed Deposits 669.14 478.05 15.93 630.24 0.25

Total CA, Loans & Advances 7,315.07 7,846.17 7,926.26 7,824.24 8,962.11
Deffered Credit 0 0 0 0 0
Current Liabilities 3,445.24 3,937.01 4,293.04 3,363.91 6,891.19
Provisions 953.17 1,284.14 906.01 803.16 721.49
Total CL & Provisions 4,398.41 5,221.15 5,199.05 4,167.07 7,612.68
Net Current Assets 2,916.66 2,625.02 2,727.21 3,657.17 1,349.43
Miscellaneous Expenses 6 3.17 0 0 0
Total Assets 14,509.69 19,786.65 25,764.41 32,082.61 34,267.87

Contingent Liabilities 2,479.24 1,362.42 17,660.42 9,775.80 18,607.32


Book Value (Rs) 82.86 107.11 140.94 139.67 145.85

Source : Asian CERC


Hindalco Industries
-----------------
-- in Rs. Cr.
-----------------
Profit & Loss account --
Mar '06 Mar '07 Mar '08 Mar '09 Mar '10

12 mths 12 mths 12 mths 12 mths 12 mths

Income
Sales Turnover 12,435.03 19,921.40 20,943.69 19,641.40 20,516.43
Excise Duty 1,079.89 1,608.47 1,825.68 1,481.59 1,059.45
Net Sales 11,355.14 18,312.93 19,118.01 18,159.81 19,456.98
Other Income 283.81 283.52 571.18 712.66 574.62
Stock Adjustments 1,033.84 443.89 141.8 -537.81 765.87
Total Income 12,672.79 19,040.34 19,830.99 18,334.66 20,797.47
Expenditure
Raw Materials 6,913.41 11,438.31 12,486.62 10,855.14 13,666.78
Power & Fuel Cost 1,795.59 1,848.62 1,910.83 2,231.56 1,938.00
Employee Cost 466.26 529.58 631.07 675.05 904.9
Other Manufacturing
Expenses 176.62 232.17 115.9 143.46 200.32

Selling and Admin Expenses 397.88 381.11 444.65 447.53 535.63


Miscellaneous Expenses 108.12 231.02 401.33 357.12 386.5

Preoperative Exp Capitalised 0 0 0 0 0


Total Expenses 9,857.88 14,660.81 15,990.40 14,709.86 17,632.13
Mar '06 Mar '07 Mar '08 Mar '09 Mar '10

12 mths 12 mths 12 mths 12 mths 12 mths

Operating Profit 2,531.10 4,096.01 3,269.41 2,912.14 2,590.72


PBDIT 2,814.91 4,379.53 3,840.59 3,624.80 3,165.34
Interest 225.17 242.39 280.63 336.93 278
PBDT 2,589.74 4,137.14 3,559.96 3,287.87 2,887.34
Depreciation 516.68 552.8 587.81 644.34 671.36
Other Written Off 6.29 4 3.62 0 0
Profit Before Tax 2,066.77 3,580.34 2,968.53 2,643.53 2,215.98
Extra-ordinary items 43.37 9.54 597.74 198.55 157.6
PBT (Post Extra-ord Items) 2,110.14 3,589.88 3,566.27 2,842.08 2,373.58
Tax 450.15 940.3 705.34 610.88 462.1
Reported Net Profit 1,655.55 2,564.33 2,860.94 2,230.27 1,915.63
Total Value Addition 2,944.47 3,222.51 3,503.78 3,854.72 3,965.35
Preference Dividend 0 0 0.02 0.02 0
Equity Dividend 216.84 177.34 226.89 229.58 258.32
Corporate Dividend Tax 30.41 24.87 38.56 39.03 42.9

Per share data (annualised)


Shares in issue (lakhs) 11,593.30 11,593.30 12,271.91 17,008.17 19,134.62
Earning Per Share (Rs) 14.28 22.12 23.31 13.11 10.01
Equity Dividend (%) 220 170 185 135 135
Book Value (Rs) 82.86 107.11 140.94 139.67 145.85

Source : Asian CERC


Hindalco Industries
-----------------
-- in Rs. Cr.
-----------------
Cash Flow --
Mar '06 Mar '07 Mar '08 Mar '09 Mar '10

12 mths 12 mths 12 mths 12 mths 12 mths

Net Profit Before Tax 2102.68 3504.63 3025.61 2690.32 2264.56


Net Cash From Operating
Activities 708.34 3336.56 2139.84 3170.39 1717.28
Net Cash (used in)/from
Investing Activities -1324.97 -5636.32 -5362.5 -5773.42 -4074.59
Net Cash (used in)/from
Financing Activities 1128.78 1989.04 2719.88 3298.83 1653.97
Net (decrease)/increase
In Cash and Cash
Equivalents 512.15 -310.72 -502.77 695.8 -703.34
Opening Cash & Cash
Equivalents 439.78 951.93 642.15 139.38 835.18
Closing Cash & Cash
Equivalents 951.93 641.21 139.38 835.18 131.84

Source : Asian CERC


Hindalco
Industries
-----------------
-- in Rs. Cr.
-----------------
Yearly Results --

Mar '06 Mar '07 Mar '08 Mar '09 Mar '10

Sales Turnover 11,396.50 18,313.00 19,201.00 18,219.65 19,536.28


Other Income 243.9 370.1 492.9 636.65 259.85
Total Income 11,640.40 18,683.10 19,693.90 18,856.30 19,796.13
Total Expenses 8,791.40 14,298.00 15,799.90 15,183.78 16,586.36
Operating Profit 2,605.10 4,015.00 3,401.10 3,035.87 2,949.92
Profit On Sale Of
Assets -- -- -- -- --
Profit On Sale Of
Investments -- -- -- -- --
Gain/Loss On Foreign
Exchange -- -- -- -- --
VRS Adjustment -- -- -- -- --
Other Extraordinary
Income/Expenses -- -- -- -- --
Total Extraordinary
Income/Expenses 3 -- -- -- --
Tax On Extraordinary
Items -- -- -- -- --
Net Extra Ordinary
Income/Expenses -- -- -- -- --
Gross Profit 2,849.00 4,385.10 3,894.00 3,672.52 3,209.77
Interest 225.2 242.4 280.6 336.93 278
PBDT 2,626.80 4,142.70 3,613.40 3,335.59 3,044.94
Depreciation 521.1 638.1 587.8 645.27 667.21

Depreciation On
Revaluation Of Assets -- -- -- -- --
PBT 2,105.70 3,504.60 3,025.60 2,690.32 2,377.73
Tax 450.2 940.3 705.4 610.88 462.1
Net Profit 1,655.50 2,564.30 2,320.20 2,079.44 1,915.63
Prior Years
Income/Expenses -- -- 540.7 150.83 113.17
Depreciation for
Previous Years
Written Back/
Provided -- -- -- -- --
Dividend -- -- -- -- --
Dividend Tax -- -- -- -- --
Dividend (%) -- -- -- -- --
Earnings Per Share 16.79 24.59 18.92 12.23 10.01
Book Value -- -- -- -- --
Equity 98.6 104.3 122.6 170.05 191.37
Reserves 9,507.70 12,313.70 -- -- --
Face Value 1 1 1 1 1

Source : Asian CERC


Hindalco
Industries
-----------------
-- in Rs. Cr.
Key Financial -----------------
Ratios --

Mar '06 Mar '07 Mar '08 Mar '09 Mar '10

Investment Valuation Ratios


Face Value 1 1 1 1 1
Dividend Per Share 2.2 1.7 1.85 1.35 1.35
Operating Profit Per
Share (Rs) 21.79 34.6 26.64 17.12 13.54
Net Operating Profit
Per Share (Rs) 97.95 157.96 155.79 106.81 101.68
Free Reserves Per
Share (Rs) 77.84 103.16 138.43 86.31 98.72

Bonus in Equity Capital 49.89 47.13 40.09 28.92 25.69


Profitability Ratios
Operating Profit
Margin(%) 22.25 21.9 17.1 16.03 13.31
Profit Before Interest
And Tax Margin(%) 17.35 18.55 13.64 12.07 9.71

Gross Profit Margin(%) 22.08 22.27 14.02 12.48 9.86

Cash Profit Margin(%) 18.75 16.72 14.31 13.76 10.89


Adjusted Cash
Margin(%) 17.94 16.9 14.31 13.76 10.89
Net Profit Margin(%) 14.29 13.76 14.56 11.87 9.69
Adjusted Net Profit
Margin(%) 13.43 13.91 14.56 11.87 9.69
Return On Capital
Employed(%) 15.37 19.07 12.44 9 6.48
Return On Net
Worth(%) 17.23 20.65 16.54 9.38 6.86
Adjusted Return on
Net Worth(%) 16.2 20.88 12.83 8.16 5.3
Return on Assets
Excluding
Revaluations 8.76 10.25 140.95 139.71 145.85

Return on Assets
Including Revaluations 8.76 10.25 140.95 139.71 145.85
Return on Long Term
Funds(%) 17.77 20.03 13.56 9.72 6.71

Liquidity And Solvency Ratios


Current Ratio 1.12 1.22 1.08 1.2 1.02
Quick Ratio 0.73 0.66 0.53 0.88 0.39
Debt Equity Ratio 0.51 0.59 0.48 0.35 0.23
Long Term Debt Equity
Ratio 0.31 0.52 0.37 0.25 0.19
Debt Coverage Ratios
Interest Cover 11.37 20.9 13.63 10.43 8.6
Total Debt to Owners
Fund 0.51 0.59 0.48 0.35 0.23
Financial Charges
Coverage Ratio 12.23 17.87 13.53 10.48 10.41
Financial Charges
Coverage Ratio Post
Tax 10.68 13.88 13.3 9.53 10.31

Management Efficiency Ratios


Inventory Turnover
Ratio 2.83 4.32 4.32 5.16 3.63
Debtors Turnover
Ratio 11.16 13.3 12.46 13.13 15.48
Investments Turnover
Ratio 3.22 4.89 4.32 5.16 3.63
Fixed Assets Turnover
Ratio 1.57 2.3 1.53 1.37 1.42
Total Assets Turnover
Ratio 0.79 0.93 0.74 0.57 0.57
Asset Turnover Ratio 1.1 1.64 1.53 1.37 1.42

Average Raw Material


Holding 86.77 42.95 58.22 49.4 66.64
Average Finished
Goods Held 5.3 4.2 5.6 3.66 4.72
Number of Days In
Working Capital 92.47 51.6 51.35 72.5 24.97

Profit & Loss Account Ratios


Material Cost
Composition 60.88 62.46 65.31 59.77 70.24
Imported Composition
of Raw Materials
Consumed 84.66 89.5 90.35 86.35 89.76
Selling Distribution
Cost Composition 2.19 1.6 1.62 1.75 1.86
Expenses as
Composition of Total
Sales 32.14 38.1 33.65 28.38 27.12

Cash Flow Indicator Ratios


Dividend Payout Ratio
Net Profit 14.93 7.88 9.27 12.04 15.72
Dividend Payout Ratio
Cash Profit 11.34 6.47 7.68 9.34 11.64
Earning Retention
Ratio 84.11 92.2 88.05 86.16 79.67
Cash Earning
Retention Ratio 88.11 93.58 90.56 89.61 86.01
AdjustedCash Flow
Times 2.36 2.34 2.96 3.22 2.95

Mar '06 Mar '07 Mar '08 Mar '09 Mar '10

Earnings Per Share 14.28 22.12 23.31 13.11 10.01


Book Value 82.86 107.11 140.94 139.67 145.85

Source : Asian CERC


Hindalco Industries

Raw ------------------- in Rs. Cr.


Materials ------------------- Mar 2010

Product Name Unit Quantity Value


Copper Metric 1,176,075 11,405.57
Concentrate Tonnes
Other Materials Not Reported NA 639.02

Caustic Soda Metric 178,496 334.05


Tonnes
Calcined Metric 156,872 253.5
Petroleum Coke Tonnes

Rock Phosphate Metric 271,318 203.59


Tonnes
Bauxite Metric 1,360,126 189.23
Tonnes
Pitch Metric 37,759 92.62
Tonnes
Ammonia Metric 41,191 59.72
Tonnes
Aluminium Metric 8,425 48.38
Fluoride/Fluorsp Tonnes
ar/ Cryolite

Total 13225.68

Source : Asian CERC


Hindalco Industries

Finished ---------------------- in Rs. Cr.


Products --------------------- Mar 2010
Product Name Unit Installed Production Sales Sales
Capacity Quantity Quantity Value
Copper Cathodes Metric 500,000 333,360.00 187,621.00 5,655.36
Tonnes
Continuous Cast Metric 142,200 147,220.00 146,164.00 4,703.01
Copper Rods Tonnes
Aluminium Rolled Metric 205,000 205,265.00 184,494.00 2,280.63
Products Tonnes
Ingots Aluminium - NA NA 222,652.00 2,024.71
Gold Metric 15 9.12 9.48 1,385.12
Tonnes
Conductor Redrawn Metric 56,400 91,903.00 91,964.00 913.72
Rods Tonnes
Hydrate & Alumina Metric 1,500,000 1,307,323.00 241,095.00 585.79
Tonnes
Extruded Products Metric 31,000 38,909.00 38,994.00 551.05
Tonnes
Others - NA NA NA 525.27
Aluminium Foils Metric 40,000 16,920.00 16,962.00 363.11
Tonnes
Di Ammonium Metric 400,000 182,378.00 176,474.00 327.72
Phosphate (DAP) Tonnes
Silver Metric 150 44.86 45.33 92.04
Tonnes
Sulphuric Acid Metric 1,670,000 1,042,799.00 763,142.00 59.84
Tonnes
Other Fiscal Benefits - NA NA NA 55.1

Ammonia - NA NA 8,750.00 12.27


Road Wheel - NA 1,792.00 10,088.00 1.14
Aluminium
Others (Traded) - NA NA 15 0.41
Rock Phosphate - NA NA NA 0
Phosphoric Acid Metric 180,000 85,187.00 NA 0
Tonnes
Electricity Mega Watts 1,358 10,822.00 NA 0

Miscellaneous - NA NA NA 0
Receipts
Aluminium (Metal) Metric 500,000 555,404.00 NA 0
Tonnes
Total 19536.29

Source : Asian CERC


Hindalco Industries

Capital Structure
Period Instrument --- CAPITAL (Rs. cr) --- -PAIDUP-
From To Authorised Issued Shares (nos) Face Value Capital

2009 2010 Equity Share 210 191.47 1914008691 1 191.4

2008 2009 Equity Share 195 170.15 1700817056 1 170.08

2007 2008 Equity Share 145 122.72 1227190692 1 122.72

2006 2007 Equity Share 145 115.93 927808470 1 92.78

2005 2006 Equity Share 145 115.93 231521031 0 5.79

2004 2005 Equity Share 145 92.78 92780847 10 92.78

2003 2004 Equity Share 145 92.48 92481325 10 92.48

2002 2003 Equity Share 145 92.48 92481325 10 92.48

2001 2002 Equity Share 145 74.47 74466213 10 74.47

2000 2001 Equity Share 145 74.47 74472020 10 74.47

1999 2000 Equity Share 145 74.47 74472020 10 74.47

1996 1999 Equity Share 145 74.47 74472020 10 74.47

1995 1996 Equity Share 145 49.65 49650030 10 49.65

1994 1995 Equity Share 70 49.65 48012080 10 48.01

1993 1994 Equity Share 70 45.48 43377514 10 43.38

1992 1993 Equity Share 70 38.77 38773864 10 38.77

1991 1992 Equity Share 45 38.77 38773864 10 38.77

1990 1991 Equity Share 45 38.77 38773864 10 38.77

1989 1990 Equity Share 45 17.85 17854700 10 17.85

1988 1989 Equity Share 21 17.85 17848650 10 17.85

1982 1988 Equity Share 15 13.39 13386488 10 13.39

1972 1982 Equity Share 12 10.05 10039866 10 10.04


1968 1969 Equity Share 10 8.04 8031893 10 8.03

1967 1968 Equity Share 10 8.04 7670510 10 7.67

1965 1966 Equity Share 10 6 5993950 10 5.99

1964 1965 Equity Share 10 6 5993200 10 5.99

1961 1963 Equity Share 10 6 5991500 10 5.99

1960 1961 Equity Share 10 6 750000 10 0.75

1959 1960 Equity Share 10 0.15 150000 10 0.15

Source : Asian CERC