Hindustan Copper Ltd logo

Hindustan Copper Ltd

HINDCOPPER NSE

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]

AI Verdict: HOLD Confidence: 5%

Hindustan Copper delivers exceptional profit growth of 55% CAGR over 5 years and is virtually debt-free, but trades at an extremely stretched valuation of 53.8x PE and 14.79x book value. The stock has already rallied 103% in 1 year, pricing in much of the growth story, warranting caution at current levels.

Key Fundamentals

MidcapCopperMetals & Mining
Market Cap
₹47,892 Cr
Volatility
Moderate
P/E Ratio
51.62
EBITDA
₹1,366 Cr
Return on Equity
14.18%
Debt to Equity
0.08
Book Value
₹34.56
EPS
₹3.74
52W High
₹760.05
52W Low
₹226.7

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 14.5 times its book value

Growth Rate

Revenue Growth
43.28% ↘
Net Income Growth
90.48% ↘
Cash Flow Change
59.50% ↗
ROE
35.78% ↘
ROCE
35.07% ↘
EBITDA Margin (Avg.)
14.37% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 1d ago
HOLD
Risk high

Hindustan Copper delivers exceptional profit growth of 55% CAGR over 5 years and is virtually debt-free, but trades at an extremely stretched valuation of 53.8x PE and 14.79x book value. The stock has already rallied 103% in 1 year, pricing in much of the growth story, warranting caution at current levels.

Bull Case 8
  • Compounded profit growth of 55% CAGR over 5 years demonstrates strong earnings momentum
  • Company is almost debt-free, providing financial flexibility for capacity expansion without leverage risk
  • ROE of 33% in the last year indicates highly efficient capital deployment for a PSU mining company
  • TTM sales growth of 49% signals strong demand tailwinds from India's energy transition and infrastructure push
  • Debtor days improved from 25.0 to 15.8 days, reflecting better working capital management and collection efficiency
  • 3-year ROE of 23% and 5-year ROE of 22% show consistent profitability improvement, not a one-off spike
  • Healthy dividend payout ratio of 30.1% with 0.2% yield provides income floor while retaining capital for growth
  • Only PSU copper producer in India with monopoly on domestic copper ore mining, benefiting from import substitution policy
Bear Case 8
  • PE ratio of 53.8x is extremely expensive for a commodities company where cyclical earnings can reverse sharply
  • Price-to-book of 14.79x is excessively rich — stock trades at nearly 15 times its book value with limited asset backing at this price
  • Stock CAGR of 103% in 1 year far outpaces the 49% TTM revenue growth, suggesting speculative premium over fundamentals
  • Only 1 analyst covers the stock with a buy rating, indicating thin institutional research coverage and potential liquidity risk at ₹49,014 Cr market cap
  • 10-year sales CAGR of just 11% reveals the underlying business growth is modest — recent acceleration may not sustain
  • Dividend yield of only 0.2% offers negligible income protection if stock price corrects from elevated levels
  • As a commodity producer, earnings are highly sensitive to global copper price cycles — the 114% TTM profit jump partly reflects favorable pricing rather than structural improvement
  • 10-year ROE of only 12% versus last year's 33% highlights the cyclical nature of returns — mean reversion risk is significant

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

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Headwinds 2
  • ₹92 crore water charge demand May 28

    Jharkhand Water Resource Department issued revised demand of ₹92.166 crore including ₹45.543 crore penalty for water charges. Company is evaluating and plans to request penalty waiver.

  • Exchange fines for board non-compliance Jun 16

    BSE and NSE fined Hindustan Copper ₹9,55,800 each (total ₹19.11 lakh) for non-compliance with board composition and committee norms. Company seeking exemption under Uniform Carve Out Policy.

Positives 4
  • Q4 FY26 profit surges 134% Jun 9

    Consolidated net profit jumped 134.36% YoY to ₹444.06 crore in Q4 FY26 vs ₹189.48 crore in Q4 FY25. Revenue from operations rose 58.06% YoY to ₹1,156.08 crore.

  • New CMD Anupam Misra appointed Jun 9

    Anupam Misra appointed CMD effective July 1, 2026, with tenure until Feb 28, 2030. Stock rose 2.52% to ₹519.10 on positive investor sentiment around leadership transition.

  • Forest clearance for Chandmari mine Jun 24

    Rajasthan government granted forest clearance on 23.06.2026 for Chandmari copper mine in Jhunjhunu, co-terminus with mine lease period ensuring regulatory continuity.

  • Strategic partnerships approved May 29

    Board approved 20-year revenue-sharing contract with Lohum Materials and MoUs with Central University of South Bihar, Engineers India Limited, and CSIR-NML for operations and R&D.

Neutral 3
  • New ED Operations appointed Jun 2

    Shri Shyam Sundar Sethi designated as Executive Director (Operations) covering Production, Safety and Law effective June 1, 2026.

  • New Unit Head at ICC Jun 1

    Shri Umesh Singh, Executive Director (Mining), took charge as Unit Head of Indian Copper Complex effective May 30, 2026.

  • Promoter shares unencumbered May 28

    President of India (promoter holding 66.14%) declared no encumbrance on Hindustan Copper shares for FY26 in disclosure to BSE and NSE.

TL;DR: Hindustan Copper delivered a strong Q4 FY26 with 134% profit growth and 58% revenue increase, signaling robust operational momentum. New CMD appointment and strategic partnerships with Lohum and EIL point to a growth-oriented outlook. Key risks include the ₹92 crore water charge demand from Jharkhand and recurring board composition non-compliance fines. The trend is improving operationally, but governance housekeeping and the Jharkhand liability need resolution to sustain investor confidence.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
560
371
381
399
565
494
518
328
731
516
718
687
1,156
Expenses
374
278
260
293
340
305
366
220
465
304
436
347
528
Operating Profit
186
93
121
107
226
188
152
108
267
212
282
340
628
OPM %
33%
25%
32%
27%
40%
38%
29%
33%
36%
41%
39%
50%
54%
Other Income
52
14
11
10
20
7
32
16
47
10
11
-78
33
Interest
3
4
4
4
4
3
1
1
2
2
0
2
1
Depreciation
61
41
46
30
59
38
48
38
52
41
44
48
67
PBT
174
62
83
82
183
154
135
84
260
179
249
213
592
Tax %
24%
24%
27%
23%
32%
26%
25%
26%
27%
25%
25%
26%
25%
Net Profit
132
47
61
63
124
113
102
63
191
134
186
156
444
EPS in Rs
1.37
0.49
0.63
0.65
1.29
1.17
1.05
0.65
1.97
1.39
1.92
1.62
4.59
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
1,016
1,072
1,204
1,670
1,816
832
1,787
1,822
1,677
1,717
2,071
3,078
Expenses
888
962
981
1,399
1,310
1,074
1,376
1,310
1,185
1,170
1,332
1,616
Operating Profit
128
110
223
271
506
-242
411
512
492
547
738
1,462
OPM %
13%
10%
18%
16%
28%
-29%
23%
28%
29%
32%
36%
48%
Other Income
67
52
27
41
37
57
35
50
96
54
78
-24
Interest
1
3
14
26
60
62
64
30
17
17
8
5
Depreciation
113
119
142
165
253
291
295
150
175
175
176
200
PBT
80
40
94
122
230
-538
87
382
396
410
634
1,233
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
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
Div. Payout %
21%
0%
30%
29%
33%
0%
29%
30%
30%
30%
30%
30%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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%

Shareholding Pattern

As of Mar 2026
Promoters 66.14%
Public 19.15%
FIIs 6.34%
DIIs 5.39%
Others 2.98%
Total 100.00%
  Mar 2021Apr 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
76.05%
72.76%
72.76%
66.14%
66.14%
66.14%
66.14%
66.14%
66.14%
66.14%
66.14%
66.14%
66.14%
66.14%
66.14%
66.14%
66.14%
66.14%
66.14%
66.14%
66.14%
66.14%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
3.13%
3.22%
3.30%
3.41%
3.27%
3.71%
5.06%
6.56%
6.34%
DIIs
12.66%
14.80%
13.02%
17.02%
16.81%
16.44%
15.60%
15.95%
15.92%
16.44%
15.88%
13.27%
13.68%
12.28%
9.34%
9.25%
9.06%
8.58%
8.24%
6.01%
5.57%
5.39%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
9.22%
8.64%
11.46%
14.24%
15.00%
15.48%
15.26%
14.28%
14.21%
13.69%
13.96%
14.70%
14.08%
14.87%
18.19%
17.87%
17.75%
17.58%
18.09%
17.91%
18.07%
19.15%
Others
2.07%
3.80%
2.76%
2.59%
2.04%
1.93%
2.99%
3.63%
3.73%
3.72%
4.01%
5.89%
6.10%
3.58%
3.10%
3.45%
3.63%
4.43%
3.81%
4.89%
3.65%
2.98%
No. of Shareholders
1,63,636
1,56,756
2,45,042
2,88,303
3,07,314
3,25,776
3,50,892
3,32,048
3,26,981
3,25,454
3,20,901
3,16,684
3,64,291
4,28,801
5,92,285
6,07,887
6,28,085
6,35,955
6,60,201
6,45,660
8,51,683
13,39,150

Documents

Frequently Asked Questions about Hindustan Copper Ltd

What does Hindustan Copper Ltd do?
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 st...
Where is Hindustan Copper Ltd (HINDCOPPER) listed?
Hindustan Copper Ltd is listed on the Indian stock exchanges. It is listed on NSE: HINDCOPPER and BSE: 513599. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Hindustan Copper Ltd belong to?
Hindustan Copper 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 Hindustan Copper Ltd?
Hindustan Copper Ltd has a market capitalisation of approximately ₹47891.86 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Hindustan Copper Ltd?
The Price-to-Earnings (PE) ratio of Hindustan Copper Ltd is 51.62. 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 Hindustan Copper Ltd?
Over the past 52 weeks, Hindustan Copper Ltd has traded between a low of ₹226.7 and a high of ₹760.05. This range helps investors understand the stock's price volatility and recent trading levels.
Does Hindustan Copper Ltd pay dividends?
Yes, Hindustan Copper Ltd has a dividend yield of 0.20%. 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 Hindustan Copper Ltd?
Hindustan Copper Ltd has a Return on Equity (ROE) of 14.18%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Hindustan Copper Ltd on Tapetide?
On Tapetide, you can view Hindustan Copper 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 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]

Website hindustancopper.com
CEO Mr. Sanjiv Kumar Singh
Employees 1,274
Listed 2010-09-15
Face Value ₹ 5
Issued Size 96,70,24,020

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