Hindalco Q3 net down 45 pc on one-time provision for mishap in US plant

Hindalco Q3 net down 45 pc on one-time provision for mishap in US plant


Satish Pai, Managing Director, Hindalco Industries
| Photo Credit:
cueapi

Hindalco Industries, an Aditya Birla Group company, reported a 45 per cent fall in December quarter net profit at ₹2,049 crore against ₹3,735 crore logged in the same period last year, largely due to the one-time provision on account of fire accident at its US subsidiary Novelis plant.

Revenue was up 14 per cent at ₹66,521 crore (₹58,390 crore). EBITDA increased 5 per cent to ₹8,543 crore (₹8,108 crore). The company has incurred an exceptional loss of ₹2,610 crore in the quarter under review.

It has already infused $750 million as equity in Novelis and will pump in another $250 million in this quarter to mitigate the impact of the fire accidents. The company has received $50 million from insurance companies as compensation for fire at Oswego palnt and expects more recovery soon.

Satish Pai, Managing Director, Hindalco Industries, said Novelis’ underlying performance remains strong despite short-term capacity constraints from the Oswego disruptions.

The 6 lakh tonne Bay Minette project on track for commissioning in the second half of FY27, he said.

Novelis reported an EBITDA of $495 million and this should go up to $600 million once the Bay Minette goes on stream, he added.

Next phase of growth

“In India, we have entered the next phase of growth with a clear roadmap to expand upstream capacities across alumina, aluminium and copper with aluminium capacity planned to scale up from 1.3 million tonnes to 1.7 mt and copper smelting capacity from 4 lakh tonne to 7 lt,” said Pai.

Hindalco Industries will spend ₹10,000 crore in FY26 and expects the capex to be around ₹10,000-12,000 crore in India.

Revenue from aluminium upstream was up 6 per cent at ₹10,620 crore while EBITDA increased 14 per cent to ₹4,832 crore driven by better realisation. EBITDA per tonne was up 6 per cent at $1,572.

Revenue of downstream aluminium was up 22 per cent at ₹3,909 crore with an EBITDA at ₹233 crore, up 55 per cent on account of higher shipments and favourable product mix. EBITDA per tonne at $241 was up 35 per cent.

Copper revenue was up 33 per cent at ₹18,233 crore due to higher prices and strong demand. EBITDA was down 23 per cent at ₹595 crore (₹777 crore) due to weak demand for copper continuous cast rod on back of higher LME and higher channel inventories.

Published on February 12, 2026



Source link

Jan retail inflation at 2.75% under new CPI base year

Jan retail inflation at 2.75% under new CPI base year


The retail inflation under the revised Consumer Price Index (CPI) series stood at 2.75 per cent in January, the first reading with a new base year of 2024, the Statistics Ministry said on Wednesday.

The updated series aims to better reflect current household spending patterns.

Officials cautioned that the January print is not directly comparable with December’s 1.33 per cent inflation rate with 2012-base year.

The revised series updates the consumption basket to align with current expenditure trends. Chief Economic Advisor V Anantha Nageswaran said the overhaul will strengthen the data foundation for policy decisions.

“Since the CPI basket is now aligned with recent expenditure data, the inflation signals derived from this will more closely match economic conditions. This improves the information basis for calibrating monetary and fiscal policy,” he said.

Under the new series, food inflation in January was 2.13 per cent, while housing inflation came in at 2.05 per cent.

Price pressures were uneven across categories. Garlic, onion, potato, arhar/tur dal and peas saw the lowest inflation rates, while silver jewellery, tomato, coconut and copra, gold and diamond jewellery, platinum jewellery, and coconut oil registered the sharpest increases.

Nageswaran said the reweighting captures structural changes in household consumption as incomes rise.

“At the macro level, this reflects a progressive diversification of expenditure towards health, education, mobility and connectivity — typical of an economy witnessing rising incomes and living standards,” he said.

He added that if volatility in the CPI moderates under the revised basket, it could lend greater stability to fiscal outlays, dearness allowance adjustments and inflation-linked bonds, all of which are pegged to the index.

Published on February 12, 2026



Source link

Muthoot Finance Q3 PAT grows 2x to ₹2,823 crore

Muthoot Finance Q3 PAT grows 2x to ₹2,823 crore


Muthoot Finance on Thursday reported a two-fold on-year rise in consolidated net profit for Q3FY26 at ₹2,823 crore. The gold loan NBFC has home finance, micro-finance, insurance broking, and two more smaller subsidiaries.

The assets under management (AUM) of Muthoot Finance rose 50 per cent year-on-year (y-o-y) to ₹1.44 lakh crore, while group’s branch network rose to 7,541 from 7,340 in Q3FY25. The Reserve Bank of India’s (RBI) recent proposal that gold loan NBFCs with over 1,000 branches will no longer require prior regulatory approval to open new branches is seen as net positive for gold loan NBFCs like Muthoot Finance, analysts say.

The gold loan tonnage with NBFC stood at 205 tonnes as on December 2025, lower than four tonnes sequentially, but three tonnes higher than December 2024. Muthoot Finance’s total income grew 64 per cent y-o-y to ₹7,263 crore, whole total expenses were up 43 per cent at ₹3,618 crore.

Net interest margin stood at 12.77 per cent in Q3, higher than 12.66 per cent a quarter ago. Stage-3 loan ratio, or gross bad loan ratio, stood at 1.58 per cent in Q3, lower than 2.25 per cent a quarter ago.

George Jacob Muthoot, Chairman, Muthoot Group, says the repo rate cuts by banking regulator and liquidity management have fostered a more accommodative credit landscape. Additionally, targeted GST rate reductions are playing a crucial role in supporting consumption, thereby driving incremental credit demand for households and small businesses.

“In this environment, our core business of secured gold loans has become increasingly relevant, offering customers timely and transparent liquidity. Higher gold prices have naturally enhanced customer borrowing capacity, while our disciplined underwriting continues to ensure strong portfolio resilience,” he said.

Published on February 12, 2026



Source link

IIM Kozhikode, IOB in pact for executive education, capacity building

IIM Kozhikode, IOB in pact for executive education, capacity building


The Indian Institute of Management Kozhikode (IIMK) and Indian Overseas Bank (IOB) signed MoU to collaborate on the design, delivery and certification of customised training programmes and workshops for IOB’s senior leadership and executives.

The MoU was signed as part of the 90th Foundation Day celebrations of IOB. The bank also announced the establishment of a dedicated Centre of Excellence (CoE) for training and capacity building.

Under the MoU, IIMK, through its Kochi Campus (IIMK Kochi), and IOB, through its staff college and newly-inaugurated CoE will jointly work on developing and delivering high-impact learning interventions. These programmes will be tailored for IOB’s top executives, senior management and selected officers, aligned closely with the bank’s strategic priorities and long-term vision of becoming a leading institution anchored in sound and prudent banking principles.

The collaboration aims to support IOB as it navigates a rapidly evolving economic and social environment, while pursuing sustainable value creation. Both institutions will jointly identify and develop programmes that address IOB’s strategic and training needs, leveraging IIMK’s expertise across management domains.

As part of the partnership, IIMK Kochi Campus and IOB will co-create programmes aligned with the core focus areas of the IOB’s Staff training college and CoE, said a press release.

Published on February 12, 2026



Source link

Q3 Results 12th Feb: HAL, HUL, IHCL, Bharat Forge, Muthoot Finance Q3 profit rise, Hindalco, Coal India net down

Q3 Results 12th Feb: HAL, HUL, IHCL, Bharat Forge, Muthoot Finance Q3 profit rise, Hindalco, Coal India net down


Shringar House: Net Profit at Rs 301.3 cr vs Rs 128.6 cr, Revenue at Rs 659 cr vs Rs 329 cr (YoY) (Positive)

Bayer Crop: Net Profit at Rs 95.7 cr vs Rs 34.2 cr, Revenue at Rs 1106 cr vs Rs 1057 cr (YoY) (Positive)

GE Power: Net Profit at Rs 99.9 cr vs Rs 24.0 cr, Revenue at Rs 385 cr vs Rs 316 cr (YoY) (Positive)

Apex Frozen Foods Ltd: Net Profit at Rs 10.09 cr vs Loss Rs 0.21 cr, Revenue at Rs 264.29 cr vs Rs 230.73 cr (YoY) (Positive)

Kirloskar Oil Engines Ltd: Net Profit at Rs 111.38 cr vs Rs 71.30 cr, Revenue at Rs 1872.60 cr vs Rs 1449.31 cr (YoY) (Positive)

Albert David Limited: Net Profit at Rs 15.30 cr vs Loss Rs 9.38 cr, Revenue at Rs 89.93 cr vs Rs 83.08 cr (YoY) (Positive)

SJVN: Net Profit at Rs 224 cr vs Rs 149 cr, Revenue at Rs 1082 cr vs Rs 671 cr (YoY) (Positive)

Godrej Industries Limited: Net Profit at Rs 352.68 cr vs Rs 312.40 cr, Revenue at Rs 5051.19 cr vs Rs 4824.83 cr (YoY) (Positive)

Borosil Scientific Ltd: Net Profit at Rs 8.68 cr vs Rs 4.30 cr, Revenue at Rs 121.30 cr vs Rs 101.45 cr (YoY) (Positive)

NR Agarwal Industries Ltd: Net Profit at Rs 14.43 cr vs Rs 12.73 cr, Revenue at Rs 563.23 cr vs Rs 417.91 cr (YoY) (Positive)

Talbros Automotive Components Limited: Net Profit at Rs 27.20 cr vs Rs 23.82 cr, Revenue at Rs 213.59 cr vs Rs 201.47 cr (YoY) (Positive)

Elgi Equipments: Net Profit at Rs 95.2 cr vs Rs 80.6 cr, Revenue at Rs 1003 cr vs Rs 847.6 cr (YoY) (Positive)

Lenskart: Net Profit at Rs 131 cr vs Rs 102 cr, Revenue at Rs 2307 cr vs Rs 2096 cr (YoY) (Positive)

Tbo Tek: Net Profit at Rs 53.7 cr vs Rs 50 cr, Revenue at Rs 784 cr vs Rs 422 cr (YoY) (Positive)

Garware Technical Fibres: Net Profit at Rs 56.2 cr vs Rs 47.8 cr, Revenue at Rs 387 cr vs Rs 350 cr (YoY) (Positive)

Fiem Industries: Net Profit at Rs 63.4 cr vs Rs 47 cr, Revenue at Rs 690 cr vs Rs 593 cr (YoY) (Positive)

Precision Cam: Net Profit at Rs 9.2 cr vs loss Rs 6.4 cr, Revenue at Rs 180 cr vs Rs 190 cr (YoY) (Positive)

Amagi Media: Net Profit at Rs 30.9 cr vs Rs 7.9 cr, Revenue at Rs 403.8 cr vs Rs 330.0 cr (YoY) (Positive)

RSWM: Net Profit at Rs 4.2 cr vs loss Rs 8.0 cr, Revenue at Rs 1092 cr vs Rs 1196 cr (YoY) (Positive)

IZMO: Net Profit at Rs 11.7 cr vs Rs 6.1 cr, Revenue at Rs 59.1 cr vs Rs 58.7 cr (YoY) (Positive)

Shree Pushkar: Net Profit at Rs 18.1 cr vs Rs 15.9 cr, Revenue at Rs 248 cr vs Rs 217 cr (YoY) (Positive)

Radhika Jeweltech: Net Profit at Rs 30.6 cr vs Rs 22.8 cr, Revenue at Rs 214 cr vs Rs 206 cr (YoY) (Positive)

Techno Elect: Net Profit at Rs 119 cr vs Rs 95.9 cr, Revenue at Rs 872 cr vs Rs 636 cr (YoY) (Positive)

Patanjali: Net Profit at Rs 593 cr vs Rs 370 cr, Revenue at Rs 10483 cr vs Rs 8997 cr (YoY) (Positive)

Mobavenue AI Tech: Net Profit at Rs 7.6 cr vs Rs 3.6 cr, Revenue at Rs 55 cr vs Rs 33 cr (YoY) (Positive)

Marine Elec: Net Profit at Rs 11.8 cr vs Rs 4.8 cr, Revenue at Rs 210 cr vs Rs 193 cr (YoY) (Positive)

TPL Plastech: Net Profit at Rs 8.7 cr vs Rs 6.9 cr, Revenue at Rs 111 cr vs Rs 91 cr (YoY) (Positive)



Source link

Mustard yield can be increased by 70%, says former ICAR-IIMR chief

Mustard yield can be increased by 70%, says former ICAR-IIMR chief


India’s mustard production in 2024-25 had dropped to 12.67 million tonnes from 13.26 mt due to a fall in acreage
| Photo Credit:
PTI

Mustard production can be raised in the country by expanding areas in non-conventional states like Chhattisgarh, where the productivity can be raised by 70 per cent due to very low yield now, and also a lot of rice fallow land which left unsown in winter can be tapped with suitable planning.

Sharing his views on the potential of mustard crop in Chhattisgarh, P K Rai, former Director of ICAR’s Indian Institute of Rapeseed-Mustard Research, told businessline that transforming the rice fallows into productive farmland by adopting the rapeseed-mustard cultivation offers a remarkable opportunity to enhance farm income, improve cropping intensity, strengthen edible oil security, and promote sustainable agriculture.

Rai, who is currently the Director of ICAR’s Raipur-based National Institute of Biotic Stress Management (NIBSM), said Chhattisgarh has a total cultivated area of 4.78 million hectares (mh), out of which the net irrigated area is 23 per cent. Paddy crop is grown in about 3.9 mh, mostly under rainfed conditions, across uplands and shallow lowlands.

Scope for raising yield

Pointing out that nearly half of the rice area remains fallow in rabi season, it throws a a huge opportunity for mustard crop. Asked why farmers leave the field unsown, he said only about 32 per cent of paddy area is irrigated. “There are several factors like rapid soil moisture loss after monsoon, waterlogging in lowland (tal) areas, late harvesting due to prefernce for long-duration paddy varieties, fear of damage by stray cattle and limited technical awareness,” he said.

He also said the current area under rapeseed-mustard in Chhattisgarh is very low — about 31,000 hectares with a production of 17,260 tonnes. There is scope to raise mustard productivity to 11-12 quintal per hectare from current 5-6 quintal per hectare, he said adding the national average of yield was 14.63 quintal per hectare in 2024-25.

Asked why mustard only in winter, Rai said it is a highly suitable crop among all rabi crops for rice fallow systems due to its adaptability, low water requirement, and short duration.

“Mustard can grow successfully with limited irrigation or even without irrigation under suitable moisture conditions. Most varieties mature within 90–120 days, fitting well between rice harvest and before summer onset in the state. Besides, mustard can tolerate moderate drought and temperature variability,” he said.

Encouraging results

He said that the sowing window from mid-November to first week of December coincides with cool and congenial winter temperatures ranging in the range of 25-30 degree celsius, is idea for growth and development of mustard including toria. He also added that there is also a possibility of mixed-cropping with gram (chana).

“Multi-location field evaluations conducted by NIBSM during last three years, show encouraging results for the variety DRMR-150-35, which exhibited early maturity 95–110 days, making it highly suitable after rice harvest,” he said. Further, no incidence of key pests and diseases was observed except aphids, indicating its strong adaptability for biotic stress tolerance, he added.

India’s mustard production in 2024-25 had dropped to 12.67 million tonnes from 13.26 mt due to a fall in acreage. This year, there is marginal improvement in area 8.94 mh from 8.66 mh in 2024-25.

Published on February 12, 2026



Source link

YouTube
Instagram
WhatsApp