Hindalco likely to hike domestic capex in FY24 on robust demand

Company has spent Rs 2,700 crore in India in FY23, MD Satish Pai said; will be higher next year

Aditya Birla group’s flagship firm Hindalco may increase its capital expenditure (capex) outlay in India in the upcoming financial year (FY24) as demand for aluminium remains strong, the firm’s managing director (MD) Satish Pai said in a media call.

"We have spent around Rs 2,700 crore this year (FY23) in India. While next year's capex is still under discussion, it will likely be higher than the current financial year," said Pai.

Sector analysts say the move to increase domestic capex comes amid a spike in public spending by the government as well as an increase in private investment. 

"Demand for