Hindustan Copper Ltd
Hindustan Copper Ltd
Metals & MiningKey Fundamentals
MidcapCopperMetals & MiningInsights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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37 extracted metrics + investor summaries across FY13–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
6- Company has reduced debt.
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 55.2% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 30.1%
- Debtor days have improved from 25.0 to 15.8 days.
Weaknesses
1- Stock is trading at 15.8 times its book value
Growth Rate
AI Analysis — Bull vs Bear
Hindustan Copper Ltd, India's sole integrated copper mining company, trades at a market cap of ₹52,050 Cr with a PE of 56.4x and PB of 15.51x. The company has delivered 55% CAGR profit growth over 5 years and 49% TTM sales growth, while operating in a near debt-free position. The stock has appreciated 124% in the last 1 year, reflecting elevated market expectations relative to its current earnings base.
- Compounded profit growth of 55% CAGR over 5 years demonstrates strong earnings momentum and operational leverage
- TTM sales growth of 49% indicates significant revenue acceleration compared to the 10-year CAGR of 11%
- Company is almost debt-free, providing financial flexibility for capacity expansion without leverage risk
- ROE of 33% in the last year is well above its 10-year average of 12%, showing improved capital efficiency
- Debtor days improved from 25.0 to 15.8 days, reflecting better working capital management and faster collections
- Healthy dividend payout ratio of 30.1% provides consistent shareholder returns alongside a 0.19% yield
- As India's only vertically integrated copper producer, the company holds a strategic monopoly position in domestic copper mining
- 3-year ROE of 23% and 5-year ROE of 22% show sustained improvement in profitability metrics over multiple periods
- PE ratio of 56.4x is significantly elevated for a metals & mining company, pricing in aggressive future growth expectations
- Price-to-book ratio of 15.51x indicates the stock trades at an extreme premium to its asset base
- Stock CAGR of 124% in 1 year has far outpaced the TTM profit growth of 114%, suggesting valuation expansion beyond earnings support
- Dividend yield of only 0.19% offers minimal income cushion despite the 30.1% payout ratio, reflecting the high stock price relative to distributions
- 10-year compounded sales CAGR of only 11% suggests the recent 49% TTM growth may not be sustainable at a structural level
- As a government-owned mining company, expansion timelines and capital allocation decisions are subject to bureaucratic and policy risks
- Copper mining output is constrained by limited reserves and slow greenfield project development, capping volume growth potential
- The 10-year ROE average of 12% versus the latest 33% indicates current profitability may be at a cyclical peak driven by elevated copper prices
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Non-compliance with directorship mandates Aug 10
Auditors flagged non-compliance with directorship mandates in the Q1FY26 results, indicating governance concerns for the PSU miner.
- Q1 profit surges 162% YoY Aug 11
Hindustan Copper reported net profit of ~₹352 crore for Q1FY27, a 162% YoY jump driven by 81% revenue growth and EBITDA margins widening to 54.20%.
TL;DR: Hindustan Copper delivered a standout Q1 with 162% profit growth and strong 54% EBITDA margins, signaling robust operational leverage from higher copper volumes and realizations. The only risk flagged is a governance-related auditor observation on directorship non-compliance. The earnings trend is clearly improving, and if copper prices hold, momentum should continue into Q2.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 371 | 381 | 399 | 565 | 494 | 518 | 328 | 731 | 516 | 718 | 687 | 1,156 | 936 |
| Expenses | 278 | 260 | 293 | 340 | 305 | 366 | 220 | 465 | 304 | 436 | 347 | 528 | 429 |
| Operating Profit | 93 | 121 | 107 | 226 | 188 | 152 | 108 | 267 | 212 | 282 | 340 | 628 | 508 |
| OPM % | 25% | 32% | 27% | 40% | 38% | 29% | 33% | 36% | 41% | 39% | 50% | 54% | 54% |
| Other Income | 14 | 11 | 10 | 20 | 7 | 32 | 16 | 47 | 10 | 11 | -78 | 33 | 17 |
| Interest | 4 | 4 | 4 | 4 | 3 | 1 | 1 | 2 | 2 | 0 | 2 | 1 | 3 |
| Depreciation | 41 | 46 | 30 | 59 | 38 | 48 | 38 | 52 | 41 | 44 | 48 | 67 | 50 |
| PBT | 62 | 83 | 82 | 183 | 154 | 135 | 84 | 260 | 179 | 249 | 213 | 592 | 472 |
| Tax % | 24% | 27% | 23% | 32% | 26% | 25% | 26% | 27% | 25% | 25% | 26% | 25% | 25% |
| Net Profit | 47 | 61 | 63 | 124 | 113 | 102 | 63 | 191 | 134 | 186 | 156 | 444 | 353 |
| EPS in Rs | 0.49 | 0.63 | 0.65 | 1.29 | 1.17 | 1.05 | 0.65 | 1.97 | 1.39 | 1.92 | 1.62 | 4.59 | 3.65 |
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 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,016 | 1,072 | 1,204 | 1,670 | 1,816 | 832 | 1,787 | 1,822 | 1,677 | 1,717 | 2,071 | 3,078 | 3,498 |
| Expenses | 888 | 962 | 981 | 1,399 | 1,310 | 1,074 | 1,376 | 1,310 | 1,185 | 1,170 | 1,332 | 1,616 | 1,740 |
| Operating Profit | 128 | 110 | 223 | 271 | 506 | -242 | 411 | 512 | 492 | 547 | 738 | 1,462 | 1,758 |
| OPM % | 13% | 10% | 18% | 16% | 28% | -29% | 23% | 28% | 29% | 32% | 36% | 48% | 50% |
| Other Income | 67 | 52 | 27 | 41 | 37 | 57 | 35 | 50 | 96 | 54 | 78 | -24 | -17 |
| Interest | 1 | 3 | 14 | 26 | 60 | 62 | 64 | 30 | 17 | 17 | 8 | 5 | 6 |
| Depreciation | 113 | 119 | 142 | 165 | 253 | 291 | 295 | 150 | 175 | 175 | 176 | 200 | 209 |
| PBT | 80 | 40 | 94 | 122 | 230 | -538 | 87 | 382 | 396 | 410 | 634 | 1,233 | 1,525 |
| Tax % | 16% | 5% | 34% | 35% | 37% | 6% | -26% | 2% | 25% | 28% | 26% | 25% | — |
| Net Profit | 68 | 38 | 62 | 80 | 146 | -569 | 110 | 374 | 295 | 295 | 469 | 921 | 1,139 |
| EPS in Rs | 0.73 | 0.41 | 0.67 | 0.86 | 1.57 | -6.15 | 1.19 | 3.87 | 3.05 | 3.05 | 4.85 | 9.52 | 11.78 |
| Div. Payout % | 21% | 0% | 30% | 29% | 33% | 0% | 29% | 30% | 30% | 30% | 30% | 30% | — |
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 | 463 | 463 | 463 | 463 | 463 | 463 | 463 | 484 | 484 | 484 | 484 | 484 |
| Reserves | 1,399 | 948 | 1,004 | 1,065 | 1,174 | 498 | 627 | 1,428 | 1,599 | 1,802 | 2,181 | 2,864 |
| Borrowings | 0 | 207 | 472 | 657 | 1,070 | 1,564 | 1,137 | 409 | 156 | 223 | 167 | 111 |
| Other Liabilities | 371 | 1,181 | 597 | 630 | 636 | 802 | 819 | 844 | 956 | 971 | 880 | 963 |
| Total Liabilities | 2,233 | 2,799 | 2,536 | 2,814 | 3,344 | 3,326 | 3,046 | 3,164 | 3,194 | 3,479 | 3,711 | 4,421 |
| Fixed Assets | 202 | 178 | 354 | 332 | 316 | 337 | 322 | 282 | 1,326 | 1,430 | 1,731 | 1,922 |
| CWIP | 851 | 733 | 279 | 660 | 1,022 | 1,232 | 1,179 | 683 | 731 | 917 | 766 | 741 |
| Investments | 71 | 76 | 0 | 0 | 0 | 0 | 1 | 1 | 10 | 29 | 31 | 31 |
| Other Assets | 1,108 | 1,812 | 1,903 | 1,822 | 2,005 | 1,757 | 1,544 | 2,199 | 1,127 | 1,102 | 1,183 | 1,727 |
| Total Assets | 2,233 | 2,799 | 2,536 | 2,814 | 3,344 | 3,326 | 3,046 | 3,164 | 3,194 | 3,479 | 3,711 | 4,421 |
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 | 237 | 262 | -260 | 372 | 252 | 86 | 832 | 1,052 | 674 | 341 | 544 | 1,474 |
| Investing | -209 | -451 | -258 | -558 | -587 | -430 | -364 | -404 | -337 | -525 | -402 | -434 |
| Financing | -109 | 183 | -8 | -96 | 445 | 42 | 133 | -251 | -339 | -39 | -152 | -299 |
| Net Cash Flow | -80 | -7 | -526 | -282 | 110 | -302 | 601 | 397 | -3 | -222 | -10 | 741 |
| Free Cash Flow | 82 | -29 | -352 | -25 | -147 | -135 | 629 | 829 | 574 | -193 | 132 | 1,348 |
| CFO/OP | 238 | 253 | -109 | 141 | 61 | -54 | 202 | 225 | 153 | 82 | 95 | 118 |
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 | 31 | 20 | 50 | 18 | 73 | 36 | 34 | 16 | 14 | 29 | 30 | 16 |
| Inventory Days | — | — | — | 737 | 1,189 | — | 413 | — | — | — | — | — |
| Days Payable | — | — | — | 204 | 358 | — | 147 | — | — | — | — | — |
| Cash Conversion Cycle | 31 | 20 | 50 | 550 | 903 | 36 | 301 | 16 | 14 | 29 | 30 | 16 |
| Working Capital Days | 178 | 137 | 162 | 23 | 69 | -96 | 18 | -19 | -29 | 35 | 56 | -28 |
| ROCE % | 4% | 2% | 6% | 7% | 12% | -18% | 6% | 18% | 18% | 18% | 24% | 42% |
Documents
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Company Information
Incorporated in the year 1967, Hindustan Copper Limited (HCL) was formed to take over from National Mineral Development Corporation Ltd. It is the first Indian PSU and only vertically integrated copper producing company. HCL is engaged in various processes right from copper mining to the final stage of converting copper into saleable products. [1]