Hindalco Industries Ltd.

Hindalco Industries, the metals flagship of the Aditya Birla group, planning to raise about Rs 8,000 crore of debt on the back of rising borrowing costs. This debt will be used to part fund its Aditya Alumunium refinery project and a captive power plant in Orissa.

Further, the company has announced that the equity part for the Aditya aluminium smelter project has already been tied up and they are likely to launch the debt financing plan soon.

Recently, the company completed the financial closure of its Utkal and Mahan aluminium project with a debt financing of Rs 4,906 crore and Rs 7,875 crore respectively.

On consolidated basis, Hindalco Industries’s net profit for the year declined 37.42% at Rs 2456.37 crore as compared to Rs 3925.47 crore for FY10. Total income for the year increased by 18.81% at 72508.72 crore as compared to Rs 61030.63 crore for the previous year.