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Hindalco Q1 FY25: Ananya Birla and Aryaman Birla inducted as company directors

Hindalco Q1 FY25: Ananya Birla and Aryaman Birla inducted as company directors

Hindalco Industries on Tuesday reported that its net profit for the Q1 FY25 increased by 25% on-year to Rs 3,074 crore. The Aditya Birla group company said its April-June consolidated revenue from operations rose 7.5% to Rs 57,013 crore.

Business Today Desk
Business Today Desk
  • Updated Aug 13, 2024 4:16 PM IST
Hindalco Q1 FY25: Ananya Birla and Aryaman Birla inducted as company directorsAnanya Birla and Aryaman Vikram Birla joined the boards of the Group’s flagship companies, Grasim Industries and Aditya Birla Fashion and Retail, in 2023.

Hindalco Industries Q1 results: Kumar Mangalam Birla-led Hindalco Industries has inducted Ananya Birla and Aryaman Vikram Birla as directors on the board of Hindalco Industries Limited. The Board of Hindalco Industries Limited, in a statement, said that Ananya Birla and Aryaman Vikram Birla come with rich and varied experience straddling entrepreneurship and business building, which will benefit from their new-age insights and business acumen.

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Ananya Birla is a prominent figure in the business world and a highly successful artist to her credit. At the age of 17, she founded Svatantra Microfin Pvt Ltd, which has emerged as the second largest Microfinance Institution (MFI) in India. Svatantra boasts an impressive Assets Under Management (AUM) of Rs 16,000 crore and has a dedicated team of 19,500 individuals.

With a CRISIL A+ rating, Svatantra stands out as the youngest and highest-rated organization within its sector, signifying its commitment to financial integrity and stability. The company also achieved a significant milestone by securing the largest Private Equity (PE) investment in the microfinance industry, amounting to a remarkable INR 1930 crore ($230 million). Notably, Svatantra's strategic move to acquire Micro Housing Finance Corporation Ltd. in 2018 further solidified its position and expanded its reach in the financial services landscape.

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In its statement, the company noted that Ananya's visionary leadership and innovative approach have led Svatantra to introduce pioneering initiatives within the industry, setting new benchmarks and establishing the company as a frontrunner in the financial services domain. In addition to her remarkable achievements with Svatantra, Ananya is actively involved in the Aditya Birla Group's Trading and Real Estate ventures, showcasing her versatility and commitment to driving success across diverse sectors.

Aryaman, who is a distinguished first-class cricketer, has deep knowledge in entrepreneurship, venture capital investing, and professional sports. He plays an active role in various businesses within the Aditya Birla Group (ABG), particularly in sectors such as Fashion & Retail, Real Estate, Paints, and the Group's fashion direct-to-consumer (D2C) platform—TMRW.

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Aryaman has been the driving force behind the hospitality business and the establishment of Aditya Birla Ventures, a venture capital fund dedicated to investing in high-growth start-ups. 

“As the metals flagship company of the Aditya Birla Group, Hindalco is driving a greener, stronger, and smarter world through sustainable practices, innovation in materials, recycling, and responsible resource management. Over the years, Hindalco has leveraged its position as the world’s largest aluminium recycling and rolling company to set new benchmarks in sustainability and industry leadership. Hindalco is now in in the midst of yet another transformational growth phase, co-creating solutions that will harness the potential of aluminium and copper to drive the global energy transition and support the shift to a low-carbon future. This is, therefore, an appropriate moment for the board to induct Ananya and Aryaman as Directors. Given their strong business acumen and sharp focus on sustainability, I am confident that they will provide valuable perspectives that align with Hindalco’s strategic vision for a sustainable future,” said Kumar Mangalam Birla, Chairman Aditya Birla Group.

Last year, Ananya and Aryaman joined the boards of the Group’s flagship companies, Grasim Industries and Aditya Birla Fashion and Retail. They were also appointed as directors on the board of Aditya Birla Management Corporation, the apex body responsible for providing strategic direction to the Aditya Birla Group’s businesses.  

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The Board, at its meeting held on Tuesday, also inducted Anjani Kumar Agrawal, Sukanya Kripalu as independent directors.  In addition, Bharat Goenka was appointed as CFO (Designate). Goenka joins the Company from Mahindra & Mahindra, wherein he was part of the Group CFO’s office and led group-wide performance management, consolidation and reporting, investor relations, and strategic value-unlocking initiatives. 

Hindalco Industries on Tuesday reported that its net profit for the Q1 FY25 increased by 25% on-year to Rs 3,074 crore. The Aditya Birla group company said its April-June consolidated revenue from operations rose 7.5% to Rs 57,013 crore. Its revenue from the copper business was at Rs 13,292 crore, up 15.6%, on account of higher shipments and realisation, while revenue from aluminium upstream and downstream increased 9.6% and 18%, respectively.  

Shares of Hindalco Industries were trading at Rs 621.15, down by 1.33%.

 

Published on: Aug 13, 2024 4:12 PM IST
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