Hindalco Industries Ltd (HINDALCO) — Share Price, Financials & Ratios

Key Fundamentals

LargecapAluminiumMetals & Mining

Market Cap

2.2L Cr

Volatility

Moderate

P/E Ratio

15.99

EBITDA

₹27,917 Cr

Return on Equity

9.57%

Debt to Equity

0.52

Book Value

₹607.8

EPS

₹48.78

52W High

₹1,176

52W Low

₹657.5

Technical Indicators

Key Insights

Strengths

1

Company has delivered good profit growth of 36.2% CAGR over last 5 years

Weaknesses

2

Company has a low return on equity of 12.7% over last 3 years.
Company might be capitalizing the interest cost

Growth Rate

Revenue Growth

13.99% ↘

Net Income Growth

-31.48% ↘

Cash Flow Change

1.47% ↗

ROE

35.11% ↗

ROCE

24.03% ↗

EBITDA Margin (Avg.)

-29.77% ↘

AI Analysis — Bull vs Bear

anthropic

claude-opus-4.6 3d ago

HOLD

Risk medium

Hindalco offers strong profit growth (36% CAGR over 5 years) and reasonable valuation at 16.9x PE, but low ROE of ~13% and commodity cyclicality warrant caution. With 43% of analysts rating it a Hold and only 37% a Buy, the risk-reward is balanced at current levels.

Bull Case 8

Exceptional compounded profit growth of 36% CAGR over 5 years, significantly outpacing sector peers
Stock has delivered 56% returns over the past 1 year, reflecting strong momentum and investor confidence
Reasonable PE ratio of 16.9x for a commodities company with diversified aluminium and copper operations
Consistent long-term stock CAGR of 22-23% over 5 and 10 year periods respectively, rewarding patient investors
TTM sales growth of 15% indicates healthy demand environment and volume ramp-up across segments
Price-to-book ratio of 1.66x is reasonable for a capital-intensive business with global operations via Novelis
Large-cap status with market cap of Rs 2,25,442 crore provides liquidity and institutional backing
10-year compounded profit CAGR of 79% demonstrates long-term earnings transformation from cyclical lows

Bear Case 8

Low return on equity of 12.7-13% over 3 years indicates suboptimal capital efficiency for shareholders
Only 37% of analysts have a Buy rating while 20% recommend Sell, signalling divided opinion on upside
Dividend yield of just 0.5% offers minimal income return to shareholders despite strong profitability
Company might be capitalizing interest costs, which could overstate reported profitability and asset values
Commodity cyclicality risk — aluminium and copper prices are vulnerable to global slowdown and China demand weakness
TTM profit growth has decelerated to 9% compared to 20% CAGR over 3 years, suggesting margin pressure
3-year sales CAGR of only 7% is modest, indicating revenue growth has lagged profit growth and may not be sustainable
High capital intensity with potential elevated debt levels (debt-to-equity data unavailable) raises balance sheet concerns

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

AI News Digest

anthropic

claude-opus-4.6 2d ago

Headwinds 3

Indonesia capacity threatens surplus May 27

Indonesia adding 780,000 tons of primary aluminium capacity in 2026 (output jumping from 845,000 to 1,550,000 tons). If global demand weakens 2-3%, LME prices could fall from $3,600+ to $2,500-2,800/ton, impacting EBITDA/ton by $150-200.
Novelis scrap costs and disruptions May 27

Novelis faces elevated scrap costs, tariff headwinds, and Oswego fire causing 73 KT lower shipments with $53 million negative EBITDA impact. Near-term profitability pressure despite resilient demand.
Bay Minette execution risk May 27

A 6-month delay in the $5 billion Bay Minette facility could reduce F27-29 EBITDA CAGR from 13% to 9-10%, delay deleveraging by 1-2 years, and compress valuation multiples from 7.7x to 6.5-7.0x EV/EBITDA.

Positives 7

Structural aluminium supply tightness May 27

China's production at 98.2% of its 45 MT regulatory cap with exports expected to decline 9% in 2025. Global inventories at ~8 million tons (40 days consumption) with 1.5 MT deficit expected in CY2026.
First-decile cost curve position May 27

Hindalco delivers $300-400/ton cost advantage vs Western smelters, with Q4 FY26 adjusted EBITDA/ton of $544 (up 10% YoY). Three captive coal mines to standardize costs for 15-20 years.
Morgan Stanley Overweight, ₹1,325 target May 27

Rating supported by 13% EBITDA CAGR (F27-29), 15% F29 ROE, and deleveraging from 4.1x to ~2.0x. FCF inflection expected from F28 as Bay Minette capex normalizes to ~$350 million maintenance.
India demand boom continues May 27

India aluminium demand grew 9% YoY to ~1.6 MT in Q4 FY26; copper demand grew 10% YoY to 402 KT. Per capita aluminium at 2.2 kg vs 8 kg global average signals substantial headroom.
New bicycle components plant commissioned Jun 19

Commissioned aluminium bicycle facility in Chakan, Pune with annual capacity of 500,000 frames/forks, 750,000 handlebars, and 800,000 pairs of wheel rims for domestic and international markets.
Eternia targeting ₹1,000 Cr by FY29 Jun 4

Launched flagship Eternia Experience Centre in New Delhi and Bilaspur manufacturing hub. Aluminium window business targeting ₹1,000 crore revenue by FY29, driven by 65% CAGR over last three years.
Middle East supply shock supports prices May 27

3-3.5 million tonnes at risk in 2026 with EGA halted, Alba at 30% utilization, and Qatalum at 60%. Recovery timelines of 6-12 months keep supply constrained.

Neutral 5

67th AGM set for July 23 Jun 22

Board recommended ₹5 per share final dividend for FY26 with record date of July 10, 2026. Meeting via video conferencing.
Novelis amends credit agreement Jun 19

Novelis filed Form 8-K regarding amendment to its Second Amended and Restated Credit Agreement on June 19, 2026.
New Copper CEO appointed Jun 18

Kapil Agrawal appointed CEO (Designate) - Copper effective Nov 1, 2026, assuming full charge from March 1, 2027.
₹60 Cr block trade on NSE Jun 10

Approximately 570,818 shares traded at ₹1,050.90 per share totaling ₹59.99 crores, likely institutional activity.
Investor conference attendance in June May 29

Hindalco representatives attending four investor conferences June 1-8, 2026, including BofA and Morgan Stanley organized meets.

TL;DR: Hindalco is well-positioned structurally with first-decile costs, China's production cap, and Middle East disruptions creating a tight aluminium market with 1.5 MT deficit expected in CY2026. India's domestic demand growth (9% aluminium, 10% copper YoY) and downstream expansion add medium-term earnings visibility. Key risks are Indonesia's rapid capacity build-out and Bay Minette execution delays that could compress the 13% EBITDA CAGR thesis. The trend is net positive as supply constraints and India growth outweigh near-term Novelis headwinds, with F28 marking the expected FCF inflection point.

Quarterly Results

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales	55,857	52,991	54,169	52,808	55,994	57,013	58,203	58,390	64,890	64,232	66,058	66,521	78,133
Expenses	50,530	47,277	48,557	46,943	49,314	49,510	50,320	50,807	56,054	56,326	57,092	58,530	68,119
Operating Profit	5,327	5,714	5,612	5,865	6,680	7,503	7,883	7,583	8,836	7,906	8,966	7,991	10,014
OPM %	10%	11%	10%	11%	12%	13%	14%	13%	14%	12%	14%	12%	13%
Other Income	354	381	496	281	362	96	561	469	706	604	532	-2,061	-3,146
Interest	986	992	1,034	944	888	859	869	817	874	754	803	881	1,042
Depreciation	1,856	1,786	1,843	1,874	2,018	1,892	1,932	1,939	2,118	2,080	2,155	2,220	2,375
PBT	2,839	3,317	3,231	3,328	4,136	4,848	5,643	5,296	6,550	5,676	6,540	2,829	3,451
Tax %	15%	26%	32%	30%	23%	37%	31%	29%	19%	29%	28%	28%	25%
Net Profit	2,411	2,454	2,196	2,331	3,174	3,074	3,909	3,735	5,284	4,004	4,741	2,049	2,597
EPS in Rs	10.73	10.92	9.77	10.37	14.12	13.68	17.39	16.62	23.51	17.82	21.1	9.12	11.56

Show % Change

Figures in ₹ Crores

Profit & Loss

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
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
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
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
OPM %	8%	8%	12%	12%	12%	12%	13%	15%	10%	11%	13%	13%
Other Income	-832	1,500	1,198	2,879	1,127	906	-987	1,253	1,307	1,519	1,832	-4,074
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
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
PBT	340	-203	3,315	8,157	8,083	5,924	6,206	19,103	13,241	14,012	22,337	18,496
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
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
Div. Payout %	24%	-82%	13%	4%	5%	6%	19%	6%	7%	8%	7%	8%

Show % Change

Figures in ₹ Crores

Balance Sheet

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 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	63,929	99,161
Other Liabilities	34,950	32,986	36,268	40,088	42,056	41,902	55,083	79,178	68,392	68,221	76,662	1,12,051
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	3,47,795
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	1,32,208
CWIP	14,111	4,214	1,814	2,063	4,097	7,721	10,202	4,945	7,700	14,867	27,397	47,569
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	1,43,060
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	3,47,795

Show % Change

Figures in ₹ Crores

Cash Flow

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 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	-26,583
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	3,754
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

Show % Change

Figures in ₹ Crores

Ratios

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 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	123	156
Days Payable	87	92	115	108	96	98	135	128	93	94	102	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	13
ROCE %	6%	4%	8%	10%	11%	9%	9%	17%	11%	11%	15%	14%

Show % Change

Shareholding Pattern

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 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%
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%
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%
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%
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%
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%
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

Show % Change

Documents

1

Concall - May 2017 May 2017

PPT

2

Concall - Aug 2017 Aug 2017

PPT

3

Concall - Nov 2017 Nov 2017

PPT

4

Concall - May 2018 May 2018

PPT

5

Concall - Jul 2018 Jul 2018

PPT

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 Commodities sector within the Non - Ferrous Metals 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 ₹215756.22 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 15.99. 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 ₹657.5 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 0.51%. 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 9.57%. 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.