1 hindalco industries limited performance update for the half year ended 30th september 2004 2 c72c73c78c68c65c76c67c79c32c73c78c68c85c83c84c82c73c69c83c32c76c73c77c73c84c69c68 c80c101c114c102c111c114c109c97c110c99c101c32c85c112c100c97c116c101c32c150c32c72c49c70c89c48c53 c68c101c97c114c32c83c104c97c114c101c104c111c108c100c101c114c115c44 it gives me a great pleasure to share with you of your company first fiscal 05 h1fy05 has reported an excellent on back higher volumes and improved realisations in both aluminium copper while business been robust revenues margins have come under pressure due adverse macro factors like two successive tariff cuts weak tc rc treatment charges refining before focussing s financial operational i would brief key strategic initiatives taken c83c67c72c69c77c69c32c79c70c32c65c82c82c65c78c71c69c77c69c78c84c32c66c69c84c87c69c69c78c32c72c73c78c68c65c76c67c79c45c73c78c68c65c76 as are aware had acquired majority stake indal 2000 strengthen its presence over last four years significant progress made realising synergies between entities through exchange best practices however there was perceived conflict minority shareholder interests that stood way maximising market production planning logistical therefore decided
