Hindalco Industries Ltd logo

Hindalco Industries Ltd

HINDALCO NSE

Key Fundamentals

LargecapAluminiumMetals & Mining
Market Cap
2.3L Cr
Volatility
Moderate
P/E Ratio
14.27
EBITDA
₹37,773 Cr
Return on Equity
9.8%
Debt to Equity
0.73
Book Value
₹607.8
EPS
₹48.78
52W High
₹1,176
52W Low
₹697

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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57 extracted metrics + investor summaries across FY14–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

1
  • Company has delivered good profit growth of 35.2% CAGR over last 5 years

Weaknesses

2
  • Company has a low return on equity of 12.5% over last 3 years.
  • Company might be capitalizing the interest cost

Growth Rate

Revenue Growth
15.19% ↗
Net Income Growth
-16.32% ↘
Cash Flow Change
-58.01% ↘
ROE
-24.21% ↘
ROCE
-26.07% ↘
EBITDA Margin (Avg.)
-4.96% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
AI opinion · based on fundamentals
Risk medium

Hindalco Industries is a ₹2.31 lakh crore metals conglomerate that delivered all-time high consolidated EBITDA of ₹35,496 crore in FY25, with net profit rising 57.6% YoY to ₹16,001 crore. The stock trades at a PE of 14.3x with a 5-year profit CAGR of 35%, though return on equity remains moderate at around 13% and the company carries meaningful debt on its balance sheet.

Bull Case 8
  • FY25 consolidated net profit surged 57.6% YoY to ₹16,001 crore, demonstrating strong earnings momentum
  • All-time high consolidated EBITDA of ₹35,496 crore in FY25, up 38% YoY, reflecting operational leverage across aluminium and copper segments
  • 5-year compounded profit growth of 35% CAGR significantly outpaces revenue growth of 16% CAGR, indicating sustained margin expansion
  • Net Debt-to-EBITDA improved to 1.06x as of March 31, 2025 from 1.21x a year ago, showing deleveraging despite heavy capex
  • PE of 14.3x is modest for a company delivering 20% TTM profit growth with a market cap of ₹2.31 lakh crore
  • Board raised dividend by 43% to ₹5 per share for FY25, signalling management confidence in cash flow sustainability
  • Stock price CAGR of 50% over 1 year and 32% over 3 years reflects strong investor re-rating driven by improving fundamentals
  • Planned capex of ₹7,500-8,000 crore for FY26 targets downstream value-addition to reduce LME price exposure
Bear Case 8
  • 3-year average ROE of approximately 12.5-13% is low for a capital-intensive business and trails peers in the metals sector
  • Novelis contributes roughly 60% of consolidated revenue, creating concentration risk tied to global aluminium recycling margins and US economic conditions
  • Company may be capitalizing interest costs, which could overstate reported profitability and understate true debt servicing burden
  • Consolidated Net Debt-to-EBITDA rose to 1.73x by December 2025 from 1.33x a year earlier, indicating re-leveraging as Novelis capex ramps up
  • Dividend yield of only 0.48% offers minimal income support despite the 43% increase in payout
  • Aluminium prices expected in the $2,300-2,600/tonne range face downside risk from global demand slowdown or China oversupply
  • TTM sales growth of 20% is largely cyclical and commodity-driven, making forward earnings visibility uncertain
  • Price-to-book of 1.72x on a moderate ROE of 13% implies limited margin of safety if commodity cycle turns down

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 18h ago
Headwinds 2
  • AluChem deal faces US delay Aug 7

    CFIUS review for AluChem acquisition tolled by US federal shutdown. Finality now expected by September 2, 2026.

  • Novelis shipments decline 5% Aug 10

    Novelis Q1FY27 shipments fell 5% to 916 kt due to Oswego facility disruptions, despite strong profitability metrics.

Positives 4
  • Q1FY26 profit surges 157% YoY Aug 7

    Consolidated net profit rose 157% YoY to ₹7,013 crore, driven by strong Novelis and Aluminium upstream performance.

  • Record FY26 revenue and EBITDA Jul 23

    Hindalco posted record consolidated revenue of ₹2,74,944 crore and EBITDA of ₹38,097 crore for FY26, with a $10 billion growth plan outlined.

  • Novelis EBITDA/tonne up 30% Aug 10

    Novelis Q1FY27 net income surged 71% to $164M, Adjusted EBITDA rose 24% to $516M, and EBITDA per tonne improved 30% to $563. Net debt expected to fall.

  • Kuppam 10 KTPA expansion Aug 7

    Hindalco approved ₹768 crore capex at Kuppam to add 10 KTPA capacity by FY29, funded via internal accruals and debt.

Neutral 5
  • Motilal Oswal conference participation Aug 11

    Hindalco to present at Motilal Oswal 22nd Annual Global Investor Conference on August 17, 2026 in Mumbai. No UPSI to be shared.

  • Novelis secures $500M loan facility Jul 27

    Novelis entered a $500 million short-term unsecured term loan facility, disclosed via Form 8-K on July 27, 2026.

  • Q1 FY27 earnings call conducted Aug 7

    Hindalco hosted Q1 FY27 earnings conference call on August 7, 2026 and published audio recording per SEBI regulations.

  • Top management reshuffle Aug 7

    Kailash Pandey promoted to CEO - Aluminium Upstream effective August 7, 2026. Sameer Nayak ceases as Senior Management Personnel.

  • AGM approves all resolutions Jul 23

    Shareholders approved all six resolutions at the 67th AGM including reappointment of Kumar Mangalam Birla and Ananyashree Birla as directors.

TL;DR: Hindalco is delivering strong earnings growth with record FY26 financials and a 157% profit surge in Q1FY26, supported by improving Novelis unit economics. The $10 billion growth plan and Kuppam expansion signal confidence in demand. Key risks are limited to the US regulatory delay on AluChem and temporary Novelis shipment softness. The overall trend is clearly improving with robust profitability and active capacity buildout.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
52,991
54,169
52,808
55,994
57,013
58,203
58,390
64,890
64,232
66,058
66,521
78,133
84,825
Expenses
47,277
48,557
46,943
49,314
49,510
50,320
50,807
56,054
56,326
57,092
58,530
68,119
70,893
Operating Profit
5,714
5,612
5,865
6,680
7,503
7,883
7,583
8,836
7,906
8,966
7,991
10,014
13,932
OPM %
11%
10%
11%
12%
13%
14%
13%
14%
12%
14%
12%
13%
16%
Other Income
381
496
281
362
96
561
469
706
604
532
-2,061
-3,146
-1,236
Interest
992
1,034
944
888
859
869
817
874
754
803
881
1,042
966
Depreciation
1,786
1,843
1,874
2,018
1,892
1,932
1,939
2,118
2,080
2,155
2,220
2,375
2,337
PBT
3,317
3,231
3,328
4,136
4,848
5,643
5,296
6,550
5,676
6,540
2,829
3,451
9,393
Tax %
26%
32%
30%
23%
37%
31%
29%
19%
29%
28%
28%
25%
25%
Net Profit
2,454
2,196
2,331
3,174
3,074
3,909
3,735
5,284
4,004
4,741
2,049
2,597
7,013
EPS in Rs
10.92
9.77
10.37
14.12
13.68
17.39
16.62
23.51
17.82
21.1
9.12
11.56
31.21
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,04,281
98,759
1,00,184
1,15,183
1,30,542
1,18,144
1,32,008
1,95,059
2,23,202
2,15,962
2,38,496
2,74,944
2,95,537
Expenses
95,437
90,981
87,867
1,01,488
1,15,031
1,03,838
1,14,449
1,66,712
2,00,536
1,92,090
2,06,691
2,40,064
2,54,634
Operating Profit
8,844
7,778
12,317
13,695
15,511
14,306
17,559
28,347
22,666
23,872
31,805
34,880
40,903
OPM %
8%
8%
12%
12%
12%
12%
13%
15%
10%
11%
13%
13%
14%
Other Income
-832
1,500
1,198
2,879
1,127
906
-987
1,253
1,307
1,519
1,832
-4,074
-5,911
Interest
4,178
5,134
5,742
3,911
3,778
4,197
3,738
3,768
3,646
3,858
3,419
3,480
3,692
Depreciation
3,493
4,347
4,457
4,506
4,777
5,091
6,628
6,729
7,086
7,521
7,881
8,830
9,087
PBT
340
-203
3,315
8,157
8,083
5,924
6,206
19,103
13,241
14,012
22,337
18,496
22,213
Tax %
75%
245%
43%
25%
32%
36%
44%
28%
24%
28%
28%
28%
—
Net Profit
259
-702
1,882
6,083
5,495
3,767
3,483
13,730
10,097
10,155
16,002
13,391
16,400
EPS in Rs
4.14
-1.21
8.47
27.1
24.48
16.77
15.5
61.1
44.93
45.19
71.2
59.59
72.99
Div. Payout %
24%
-82%
13%
4%
5%
6%
19%
6%
7%
8%
7%
8%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
207
207
223
223
222
222
222
222
222
222
222
222
Reserves
38,122
40,402
45,836
54,629
57,279
58,095
66,311
77,969
94,584
1,05,924
1,23,487
1,36,361
Borrowings
68,468
67,552
63,817
52,074
52,415
68,399
67,206
64,486
60,291
56,356
65,642
99,165
Other Liabilities
34,950
32,986
36,268
40,088
42,056
41,902
55,083
79,178
68,392
68,221
74,949
1,08,933
Total Liabilities
1,41,746
1,41,146
1,46,144
1,47,014
1,51,972
1,68,618
1,88,822
2,21,855
2,23,489
2,30,723
2,64,300
3,44,681
Fixed Assets
71,959
85,648
84,687
85,088
85,860
89,195
1,00,269
1,06,874
1,10,626
1,11,810
1,16,556
1,30,251
CWIP
14,111
4,214
1,814
2,063
4,097
7,721
10,202
4,945
7,700
14,867
27,397
49,526
Investments
12,346
12,463
15,157
10,781
9,012
9,411
17,133
14,119
14,116
15,444
24,158
24,958
Other Assets
43,330
38,821
44,486
49,081
53,003
62,291
61,218
95,917
91,047
88,602
96,189
1,39,946
Total Assets
1,41,746
1,41,146
1,46,144
1,47,014
1,51,972
1,68,618
1,88,822
2,21,855
2,23,489
2,30,723
2,64,300
3,44,681
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
7,143
11,688
12,687
10,898
11,977
12,665
17,232
16,838
19,208
24,056
24,410
10,250
Investing
-3,873
-3,220
-2,876
5,333
-5,456
-7,101
-25,280
-6,773
-7,559
-14,267
-24,609
-25,783
Financing
-2,437
-8,862
-5,552
-16,412
-5,466
6,610
-4,882
-6,765
-10,450
-10,817
-1,816
20,087
Net Cash Flow
833
-394
4,259
-181
1,055
12,174
-12,930
3,300
1,199
-1,028
-2,015
4,554
Free Cash Flow
1,427
7,636
9,818
7,942
6,009
5,933
11,715
11,483
9,571
8,378
4,006
-19,508
CFO/OP
94
166
109
94
89
89
105
73
97
112
94
48
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
32
29
30
32
32
29
36
39
27
28
30
36
Inventory Days
104
103
120
115
103
120
146
138
111
111
121
156
Days Payable
87
92
115
108
96
98
135
128
93
94
100
127
Cash Conversion Cycle
49
40
36
38
39
51
47
49
45
45
51
65
Working Capital Days
-6
4
-17
17
18
3
3
-3
13
9
23
2
ROCE %
6%
4%
8%
10%
11%
9%
9%
17%
11%
11%
15%
13%

Shareholding Pattern

As of Jun 2026
FIIs 35.60%
Promoters 34.66%
DIIs 19.95%
Public 5.67%
Others 3.90%
Government 0.23%
Total 100.01%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
34.64%
34.64%
34.64%
34.64%
34.64%
34.64%
34.64%
34.64%
34.64%
34.64%
34.64%
34.64%
34.64%
34.64%
34.64%
34.64%
34.64%
34.64%
34.64%
34.64%
34.64%
34.66%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
30.69%
0.00%
30.53%
30.86%
32.26%
31.72%
28.14%
31.39%
32.10%
32.33%
34.13%
35.60%
DIIs
20.80%
20.58%
20.61%
21.16%
19.20%
21.50%
26.85%
26.92%
26.23%
26.11%
25.82%
23.33%
25.79%
25.57%
24.32%
24.64%
24.81%
25.06%
24.23%
23.29%
21.47%
19.95%
Government
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.23%
0.23%
0.23%
0.23%
0.23%
0.23%
0.23%
0.23%
0.23%
0.23%
0.23%
0.23%
0.23%
0.23%
0.23%
0.23%
Public
5.29%
5.67%
5.32%
5.65%
0.00%
0.00%
6.67%
4.51%
4.91%
4.89%
4.57%
5.15%
5.54%
5.49%
5.28%
5.47%
5.30%
5.43%
5.30%
5.57%
5.57%
5.67%
Others
39.25%
39.10%
39.41%
38.53%
46.14%
43.85%
31.61%
33.70%
33.99%
34.13%
4.04%
36.65%
3.26%
3.20%
3.26%
3.29%
6.88%
3.25%
3.51%
3.93%
3.96%
3.90%
No. of Shareholders
3,48,472
4,21,300
4,04,878
5,06,562
5,03,729
7,03,180
7,45,952
6,48,797
6,76,110
6,66,489
6,13,244
5,49,231
6,41,541
6,49,551
6,45,537
6,94,836
6,81,098
6,90,932
6,65,009
6,79,190
6,91,308
6,99,601

Documents

1
Concall - May 2017 May 2017
2
Concall - Aug 2017 Aug 2017
3
Concall - Nov 2017 Nov 2017
4
Concall - May 2018 May 2018
5
Concall - Jul 2018 Jul 2018

Frequently Asked Questions about Hindalco Industries Ltd

What does Hindalco Industries Ltd do?
Incorporated in 1958, Hindalco Industries Ltd. is a flagship company of the Aditya Birla Group. The Co and its subsidiaries are primarily engaged in the production of Aluminium and Copper. It is also engaged in the manufacturing of aluminium sheet, extrusion and light gauge products for use in pa...
Where is Hindalco Industries Ltd (HINDALCO) listed?
Hindalco Industries Ltd is listed on the Indian stock exchanges. It is listed on NSE: HINDALCO and BSE: 500440. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Hindalco Industries Ltd belong to?
Hindalco Industries Ltd operates in the Metals & Mining sector within the Aluminium industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Hindalco Industries Ltd?
Hindalco Industries Ltd has a market capitalisation of approximately ₹233812.68 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Hindalco Industries Ltd?
The Price-to-Earnings (PE) ratio of Hindalco Industries Ltd is 14.27. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Hindalco Industries Ltd?
Over the past 52 weeks, Hindalco Industries Ltd has traded between a low of ₹697 and a high of ₹1,176. This range helps investors understand the stock's price volatility and recent trading levels.
Does Hindalco Industries Ltd pay dividends?
Yes, Hindalco Industries Ltd has a dividend yield of 0.48%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Hindalco Industries Ltd?
Hindalco Industries Ltd has a Return on Equity (ROE) of 9.80%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Hindalco Industries Ltd on Tapetide?
On Tapetide, you can view Hindalco Industries Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Incorporated in 1958, Hindalco Industries Ltd. is a flagship company of the Aditya Birla Group. The Co and its subsidiaries are primarily engaged in the production of Aluminium and Copper. It is also engaged in the manufacturing of aluminium sheet, extrusion and light gauge products for use in packaging markets like beverage and food, can and foil products, etc. [1]

Website hindalco.com
CEO Mr. Satish Pai
Employees 78,999
Listed 1997-01-08
Face Value ₹ 1
Issued Size 2,24,72,26,523

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