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Hindalco Industries
SectorMetals & Mining
Hindalco Industries Limited is the metals flagship of the Aditya Birla Group and a major player in the global aluminium and copper industry. The company operates across the entire aluminium value chain, from bauxite mining to downstream products like rolling, extruding, and foil making. It is also a significant copper producer in India, supplying to various sectors including the Indian Railways. Hindalco's operations are divided into four segments: Novelis (global aluminium rolling and recycling), Aluminium Upstream (mining, refining, smelting, and power generation), Aluminium Downstream (value-added products), and Copper (cathodes, rods, and other products). The company has expanded through acquisitions, joint ventures, and greenfield projects, enhancing its production capacities and global presence. Hindalco has also invested in sustainability and technological advancements in its manufacturing processes.
In the news
Hindalco EBITDA to double by FY32, CLSA sees 27% upside
Hindalco commissions India's first Superfine PPT ATH plant
Reliance vs Adani: Battle for India's Aluminium Future
Hindalco shares rise 2.45% to ₹1,054.65 on strong Q1 performance
Aditya Birla Group's Brand Royalty: Governance Shift with Minimal Financial Impact
Hindalco's Baphlimali mine becomes India's first ASI-certified bauxite operation
Alunorte Disruption: Indian Aluminium Producers Gain From Supply Shock
ICICI Securities: Mixed ratings on Titan, Fortis, Hindalco post Q1 results
Hindalco Q1 profit hits record ₹7,007 cr, shares fall 2%
Analyst picks Hindalco, M&M as top stocks amid market weakness
Hindalco to pay ₹225 cr annual royalty for Aditya Birla brand
Hindalco's Record Q1 FY27: How India Operations and Novelis Recovery Drove 75% Profit Surge
Hindalco Stock Shows Double Bottom Pattern After 14% Drop
Novelis Q1 profit surges 71% on aluminium demand, cost savings
Hindalco Q1 results: Record ₹7,013 cr profit driven by 50% aluminium price surge
Hindalco Q1 Results: Stock Opens Higher, Earnings Call Set for Aug 7
Hindalco plans ₹1 lakh cr investment amid Adani aluminium threat
Hindalco shares upgraded to 'Buy' by Kotak on debt peak outlook
Centre launches eighth critical mineral auction with 20 blocks
Cement Stocks Rally 17% on Strong Q1 Results; Mixed Outlook Ahead
The Quarter story
The two most recent quarterly results, compared side-by-side.
Hindalco drives strong margin expansion and earnings growth across aluminium and copper, while managing rising debt and selective volume shifts.
Aluminium upstream EBITDA per tonne rises from $1,467 to $2,331 from Q1 FY26 to Q1 FY27, reflecting strong margin expansion.
Gross debt climbs from ₹63,330 Cr to ₹103,515 Cr from Q1 FY26 to Q1 FY27, signaling leverage buildup.
Consolidated EPS grows from ₹18.03 to ₹31.58 from Q1 FY26 to Q1 FY27, confirming robust earnings delivery.
Exceptional expenses widen from ₹182 Cr to ₹2,299 Cr from Q2 FY26 to Q1 FY27, pressuring net income.
Total waste recycled jumps from 26.4% to 80% from Q1 FY26 to Q1 FY27, marking major sustainability progress.
FRP shipments decline from 90 KT to 83 KT from Q2 FY26 to Q1 FY27, indicating softening downstream demand.
Renewable energy capacity expands from 292 MW to 470 MW from Q2 FY26 to Q1 FY27, accelerating the green transition.
Net leverage ratio rises from 1.02x to 1.95x from Q1 FY26 to Q1 FY27, highlighting balance sheet pressure.
Copper EBITDA per tonne climbs from $641 to $926 from Q2 FY26 to Q1 FY27, showing improved segment profitability.
Copper metal shipments ease from 124 MT to 105 MT from Q1 FY26 to Q1 FY27, reflecting seasonal order normalization.
Company insights, generated from the most recent coverage.
Consolidated net debt/EBITDA nearly doubled to 1.95x from 1.02x in a year, but with Novelis at 4.47x the group is already at management's ~2x ceiling — any further Novelis stress pushes Hindalco past its own guardrail.
Oswego fire has cost about $1.4 billion in cash, expected to reduce to roughly $600 million after insurance recoveries — the residual is a direct drag on the free cash flow Novelis needs for deleveraging.
Hindalco runs no AI-led efficiency story; its ₹300m 3-year structural cost programme has had its FY26 exit-savings target raised to over $100m, showing conventional cost engineering still drives metals margin.