Non - Ferrous Metals
Valuation | |
|---|---|
| Market Cap | 2.08 LCr |
| Price/Earnings (Trailing) | 12.77 |
| Price/Sales (Trailing) | 0.79 |
| EV/EBITDA | 8.05 |
| Price/Free Cashflow | 46.61 |
| MarketCap/EBT | 9.62 |
| Enterprise Value | 2.7 LCr |
Fundamentals | |
|---|---|
| Revenue (TTM) | 2.64 LCr |
| Rev. Growth (Yr) | 13.9% |
| Earnings (TTM) | 16.08 kCr |
| Earnings Growth (Yr) | -45.1% |
Profitability | |
|---|---|
| Operating Margin | 9% |
| EBT Margin | 8% |
| Return on Equity | 11.92% |
| Return on Assets | 5.42% |
| Free Cashflow Yield | 2.15% |
Growth & Returns | |
|---|---|
| Price Change 1W | -1.2% |
| Price Change 1M | -7.4% |
| Price Change 6M | 31.4% |
| Price Change 1Y | 46.3% |
| 3Y Cumulative Return | 32.3% |
| 5Y Cumulative Return | 22.1% |
| 7Y Cumulative Return | 24.8% |
| 10Y Cumulative Return | 29.4% |
Cash Flow & Liquidity | |
|---|---|
| Cash Flow from Investing (TTM) | -24.74 kCr |
| Cash Flow from Operations (TTM) | 24.41 kCr |
| Cash Flow from Financing (TTM) | -1.82 kCr |
| Cash & Equivalents | 10.94 kCr |
| Free Cash Flow (TTM) | 3.76 kCr |
| Free Cash Flow/Share (TTM) | 16.74 |
Balance Sheet | |
|---|---|
| Total Assets | 2.97 LCr |
| Total Liabilities | 1.62 LCr |
| Shareholder Equity | 1.35 LCr |
| Current Assets | 1.16 LCr |
| Current Liabilities | 78.84 kCr |
| Net PPE | 88.27 kCr |
| Inventory | 60.38 kCr |
| Goodwill | 28.2 kCr |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.24 |
| Debt/Equity | 0.54 |
| Interest Coverage | 5.52 |
| Interest/Cashflow Ops | 8.37 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 5 |
| Dividend Yield | 0.55% |
| Shares Dilution (1Y) | 0.00% |
| Shares Dilution (3Y) | 0.00% |
Past Returns: Outperforming stock! In past three years, the stock has provided 32.3% return compared to 13.3% by NIFTY 50.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Balance Sheet: Strong Balance Sheet.
Smart Money: Smart money has been increasing their position in the stock.
Size: It is among the top 200 market size companies of india.
Technicals: SharesGuru indicator is Bearish.
Momentum: Stock is suffering a negative price momentum. Stock is down -7.4% in last 30 days.
Past Returns: Outperforming stock! In past three years, the stock has provided 32.3% return compared to 13.3% by NIFTY 50.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Balance Sheet: Strong Balance Sheet.
Smart Money: Smart money has been increasing their position in the stock.
Size: It is among the top 200 market size companies of india.
Technicals: SharesGuru indicator is Bearish.
Momentum: Stock is suffering a negative price momentum. Stock is down -7.4% in last 30 days.
Investor Care | |
|---|---|
| Dividend Yield | 0.55% |
| Dividend/Share (TTM) | 5 |
| Shares Dilution (1Y) | 0.00% |
| Earnings/Share (TTM) | 72.41 |
Financial Health | |
|---|---|
| Current Ratio | 1.47 |
| Debt/Equity | 0.54 |
Technical Indicators | |
|---|---|
| RSI (14d) | 49.68 |
| RSI (5d) | 73.88 |
| RSI (21d) | 42.63 |
| MACD Signal | Sell |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Buy |
| RSI Signal | Hold |
| RSI5 Signal | Sell |
| RSI21 Signal | Hold |
| SMA 5 Signal | Buy |
| SMA 10 Signal |
Updated Feb 10, 2026
Summary of Hindalco Industries's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
In the Q3 FY26 earnings call for Hindalco Industries, management provided an optimistic outlook despite challenges. They highlighted a consolidated EBITDA of INR 8,762 crores, up 6% YoY, while reporting a year-on-year decline of 45% in profit after tax to INR 2,049 crores due to exceptional items like the Oswego plant fires. If adjusted for these exceptional items, the consolidated PAT would have been INR 4,051 crores, marking an 8% YoY increase.
Key points include:
For the upcoming quarters, management expects Q4 to be strong, particularly in the Indian copper segment, anticipating a profit of around INR 600 crores, driven by robust demand. Their operational strategies include maintaining a balanced outlook on net debt-to-EBITDA below 2x, continuing investments in growth while navigating the challenges faced by Novelis.
On aluminum demand, management noted a projected increase of 9% YoY in Q3 FY26, expected to reach 1.5 million tons in India, alongside improved copper market conditions due to infrastructure investments. They confirmed that ongoing projects, such as the Bay Minette facility, are on track, with the completion set for the latter half of FY26.
Overall, management's focus remains on enhancing operational efficiency and pursuing strategic growth across both the upstream and downstream segments while ensuring sustainability goals are met.
Understand Hindalco Industries ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| IGH HOLDINGS PRIVATE LIMITED | 15.58% |
| BIRLA GROUP HOLDINGS PRIVATE LIMITED | 11.38% |
| Sbi Nifty 50 Etf | 4.8% |
| Morgan Guaranty Trust Company Of New York, Asdepositary | 4.17% |
| GRASIM INDUSTRIES LTD | 3.92% |
| Nps Trust- A/C Sbi Pension Fund Scheme - State Govt | 2.05% |
| Aditya Birla Sun Life Trustee Private Limited A/C Aditya Birla Sun Life Flexi Cap Fund |
Detailed comparison of Hindalco Industries against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Comprehensive comparison against sector averages
HINDALCO metrics compared to Non
| Category | HINDALCO | Non |
|---|---|---|
| PE | 13.00 | 16.81 |
| PS | 0.80 | 1.79 |
| Growth | 13.9 % | 14.3 % |
Hindalco Industries is a leading company in the aluminum sector, with its stock ticker listed as HINDALCO. It boasts a substantial market capitalization of Rs. 141,272.1 Crores and operates on a global scale, producing and selling aluminum and copper products.
The company consists of several segments: Novelis, Aluminium Upstream, Aluminium Downstream, and Copper. Its wide range of aluminum products includes:
These products serve various industries, including automotive, construction, aerospace, electrical, pharmaceuticals, and consumer durables.
In addition to aluminum, Hindalco produces copper products like copper cathodes and continuous cast copper rods. These products cater to industries such as agrochemical, automotive, and electric vehicle sectors.
Hindalco also has a diverse range of other offerings, including:
Founded in 1958 and based in Mumbai, India, Hindalco has reported a trailing 12-month revenue of Rs. 231,970 Crores, with a remarkable revenue growth of 28.3% over the past three years.
The company is committed to delivering value to its investors, offering a dividend yield of 1.01% per year, with a distribution of Rs. 6.5 per share in the last 12 months. Hindalco has also established several brand names for its products, including Hindalco Extrusions, Everlast, Freshwrapp, and Birla Balwan, among others.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
| Buy |
| SMA 20 Signal | Buy |
| SMA 50 Signal | Buy |
| SMA 100 Signal | Buy |
HINDALCO vs Non (2021 - 2026)
Change in Management • 27 Feb 2026 Change in Senior Management Personnel of the Company |
Change in Management • 26 Feb 2026 Change in Senior Management Personnel. |
Acquisition • 26 Feb 2026 Update on Acquisition of AluChem Companies, Inc. by Aditya Holdings LLC a step down wholly owned subsidiary of Hindalco Industries Limited. |
Analyst / Investor Meet • 24 Feb 2026 Intimation regarding the investor meeting at IIFL 17th Entrepreneurial India Conference 2026 to be attended by representatives of the Company |
General • 24 Feb 2026 Novelis Inc. a wholly owned subsidiary of the Company announced entry into subscription agreement with AV Minerals (Netherlands) N.V. |
• 18 Feb 2026 |
This information is AI-generated and may contain inaccuracies. Please verify from multiple sources.
Ashish Kejriwal: "Is it possible to explain the net debt bridge? Because we saw that net debt has increased by almost INR 18,000 crore on a quarter-on-quarter basis. So, we understand that $0.4 billion was on Novelis, and then $750 million we have paid to Novelis. So, roughly around $1.2 billion we can understand. But what about $0.8 billion extra?"
Satish Pai: "Bharat will clarify that. We had an increase of INR 24,000 crore in net debt over nine months, with INR 17,000 crore attributed to negative FCF due to Oswego impacts and pricing increases. The India business contributed INR 7,000 crore due to copper working capital, which we expect to reverse in Q4."
Ashish Kejriwal: "In hedging, what was the hedging loss in Q3 and anything on FY '27 also?"
Satish Pai: "In Q3, the notional hedging loss amounted to INR 245 crore. For FY '27, we've hedged around 21% at 2,925 and plan on upping it to 25% at 3,100 levels."
Pallav Agarwal: "With the significant rise in copper prices, are we seeing any substitution happening from copper to aluminum?"
Satish Pai: "Substitution has been occurring over the years, especially in cables, but not significantly in Q4. Copper demand remains strong in applications like electric vehicles and motors."
Pallav Agarwal: "What is the guidance on the 4th Quarter cost of production?"
Satish Pai: "We expect Q4 cost to rise about 1%, mainly driven by CP Coke price increases."
Pinakin: "When do you expect to contract the 180 K volumes at Bay Minette, given the Oswego fire?"
Steve Fisher: "OEMs are already contracting material; we're confident in progressing contracting as we ramp up our plant later this year. The volumes will be contracted for Calendar Years '26 and '27."
Ritesh Shah: "How should we understand the capital structure at Novelis regarding the equity injection?"
Dev Ahuja: "The $750 million and an additional $200 million will fund increased Bay Minette costs, which rose from $4.1 billion to $5 billion. It will also bridge short-term needs due to Oswego."
Rashi: "What is the target for CAPEX for India this year and next year?"
Satish Pai: "This year, we're targeting around INR 8,000 crore, plus INR 2,000 crore for the Bandha mine. Next year will be similar, around INR 10,000 crore to INR 12,000 crore."
Prateek Singh: "When will North American EBITDA per ton begin reflecting high scrap spreads?"
Dev Ahuja: "The impact is subdued due to Oswego being down. If operational, we would see nice impacts from current prices. The recycling rate remains about 63% with lower performance in North America currently."
Each response succinctly summarizes the answers given, retaining key numerical data and guidance provided by the management.
| 1.36% |
| PILANI INVESTMENT AND INDUSTRIES | 1.33% |
| Hdfc Trustee Company Limited-Hdfc Flexi Cap Fund | 1.24% |
| BIRLA INSTITUTE OF TECHNOLOGY AND SCIENCE | 0.96% |
| TRUSTEE HOLDING SHARES UNDER THE SCHEME OF MERGER OF HIL/IGCL/IGFL ON BEHALF OF HINDALCO | 0.73% |
| PT Indo Bharat Rayon | 0.43% |
| P T Sunrise Bumi Textiles | 0.13% |
| PT Elegant Textile Industry | 0.08% |
| KUMAR MANGALAM BIRLA | 0.04% |
| RAJASHREE BIRLA | 0.03% |
| ADITYA VIKRAM KUMAR MANGALAM BIRLA HUF | 0.03% |
| NEERJA BIRLA | 0.01% |
| VASAVADATTA BAJAJ | 0.01% |
| Surya Kiran Investments Pte Ltd | 0% |
Distribution across major stakeholders
Distribution across major institutional holders
| -2.50% |
| +77.60% |
| 19.79 |
| 1.95 |
| - |
| - |
| TATASTEEL | TATA STEEL | 2.65 LCr | 2.27 LCr | +9.50% | +53.10% | 28.85 | 1.17 | - | - |
| HINDZINC | Hindustan Zinc | 2.55 LCr | 37.42 kCr | -14.70% | +46.60% | 21.61 | 6.82 | - | - |
| NATIONALUM | National Aluminium Co. | 65.13 kCr | 18.69 kCr | -12.70% | +97.70% | 10.6 | 3.48 | - | - |
| HINDCOPPER | Hindustan Copper | 54.76 kCr | 2.74 kCr | -10.60% | +166.30% | 82.79 | 20 | - | - |
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
| Total Expenses |
| 2.6% |
| 61,628 |
| 60,050 |
| 59,160 |
| 59,046 |
| 53,563 |
| 53,121 |
| Profit Before exceptional items and Tax | -19% | 5,442 | 6,721 | 5,674 | 6,544 | 5,336 | 6,157 |
| Exceptional items before tax | -1326.8% | -2,610 | -182 | 0 | 6 | -41 | -514 |
| Total profit before tax | -56.7% | 2,832 | 6,539 | 5,674 | 6,550 | 5,295 | 5,643 |
| Current tax | -7.7% | 1,617 | 1,751 | 1,506 | 1,539 | 1,871 | 1,625 |
| Deferred tax | -1883% | -837 | 48 | 166 | -273 | -310 | 109 |
| Total tax | -56.7% | 780 | 1,799 | 1,672 | 1,266 | 1,561 | 1,734 |
| Total profit (loss) for period | -56.8% | 2,049 | 4,741 | 4,004 | 5,284 | 3,735 | 3,909 |
| Other comp. income net of taxes | -95% | 49 | 969 | 2,719 | 1,776 | -2,313 | 954 |
| Total Comprehensive Income | -63.3% | 2,098 | 5,710 | 6,723 | 7,060 | 1,422 | 4,863 |
| Earnings Per Share, Basic | -59.6% | 9.23 | 21.35 | 18.03 | 23.8 | 16.82 | 17.59 |
| Earnings Per Share, Diluted | -59.6% | 9.21 | 21.32 | 18 | 23.76 | 16.79 | 17.56 |
| Debt equity ratio | - | - | - | - | - | - | - |
| Debt service coverage ratio | - | - | - | - | - | - | - |
| Interest service coverage ratio | - | - | - | - | - | - | - |
| Employee Expense |
| 7% |
| 2,621 |
| 2,450 |
| 2,218 |
| 2,058 |
| 1,844 |
| 1,922 |
| Finance costs | -26% | 939 | 1,268 | 1,300 | 1,417 | 1,469 | 1,679 |
| Depreciation and Amortization | 3.5% | 2,029 | 1,961 | 1,874 | 1,752 | 1,708 | 1,708 |
| Other expenses | 1.6% | 16,680 | 16,416 | 18,830 | 13,840 | 10,162 | 11,777 |
| Total Expenses | 8.1% | 85,116 | 78,738 | 72,630 | 59,624 | 41,784 | 39,965 |
| Profit Before exceptional items and Tax | 91.5% | 9,522 | 4,974 | 4,834 | 8,564 | 1,567 | 1,016 |
| Exceptional items before tax | -105% | 0 | 21 | 41 | -107 | 7 | -64 |
| Total profit before tax | 90.6% | 9,522 | 4,995 | 4,875 | 8,457 | 1,574 | 952 |
| Current tax | 234.2% | 2,982 | 893 | 917 | 1,496 | 283 | 137 |
| Deferred tax | -62.4% | 153 | 405 | 632 | 1,454 | 298 | 195 |
| Total tax | 141.6% | 3,135 | 1,298 | 1,549 | 2,950 | 581 | 332 |
| Total profit (loss) for period | 72.8% | 6,387 | 3,697 | 3,326 | 5,507 | 993 | 620 |
| Other comp. income net of taxes | -58.1% | 941 | 2,245 | 1,702 | -397 | 3,780 | -3,400 |
| Total Comprehensive Income | 23.3% | 7,328 | 5,942 | 5,028 | 5,110 | 4,773 | -2,780 |
| Earnings Per Share, Basic | 77.5% | 28.76 | 16.64 | 14.96 | 24.76 | 4.46 | 2.79 |
| Earnings Per Share, Diluted | 77.3% | 28.7 | 16.62 | 14.94 | 24.73 | 4.46 | 2.79 |
| Debt equity ratio | - | - | 013 | 022 | 036 | 0 | 04 |
| Debt service coverage ratio | - | - | 0.04 | 0.0108 | 0.0783 | 0.03 | 0.0307 |
| Interest service coverage ratio | - | - | 0.0649 | 0.0623 | 0.0827 | 0.03 | 0.0308 |
| Capital work-in-progress |
| -7.6% |
| 7,020 |
| 7,598 |
| 6,430 |
| 4,031 |
| 3,021 |
| 2,968 |
| Investment property | 50% | 49 | 33 | 33 | 33 | 7 | 7 |
| Goodwill | 0% | 4 | 4 | 4 | 4 | 4 | 4 |
| Non-current investments | 0.7% | 29,635 | 29,424 | 29,325 | 28,099 | 25,503 | 24,004 |
| Loans, non-current | 733.3% | 26 | 4 | 90 | 107 | 155 | 174 |
| Total non-current financial assets | 1% | 30,152 | 29,868 | 30,315 | 29,178 | 26,017 | 25,736 |
| Total non-current assets | 4.5% | 74,830 | 71,579 | 70,826 | 66,432 | 62,639 | 61,862 |
| Total assets | 8.9% | 118,663 | 108,927 | 107,117 | 97,036 | 94,823 | 96,922 |
| Borrowings, non-current | -11.4% | 6,278 | 7,085 | 7,110 | 7,123 | 9,472 | 11,559 |
| Total non-current financial liabilities | -8.2% | 7,365 | 8,022 | 7,960 | 7,854 | 10,156 | 12,273 |
| Provisions, non-current | 2.7% | 498 | 485 | 472 | 475 | 471 | 421 |
| Total non-current liabilities | -7% | 14,251 | 15,331 | 15,556 | 14,324 | 16,418 | 18,052 |
| Borrowings, current | 40.8% | 5,622 | 3,992 | 3,793 | 517 | 7,069 | 749 |
| Total current financial liabilities | 37.3% | 25,094 | 18,278 | 19,214 | 15,546 | 14,375 | 17,178 |
| Provisions, current | 18.6% | 1,365 | 1,151 | 1,122 | 1,148 | 1,100 | 1,196 |
| Current tax liabilities | 28.5% | 3,415 | 2,657 | 2,058 | 1,320 | 1,357 | 1,244 |
| Total current liabilities | 33.1% | 31,136 | 23,390 | 23,468 | 19,005 | 17,878 | 20,381 |
| Total liabilities | 17.2% | 45,387 | 38,721 | 39,024 | 33,329 | 34,296 | 38,433 |
| Equity share capital | 0% | 222 | 222 | 222 | 222 | 222 | 222 |
| Total equity | 4.4% | 73,276 | 70,206 | 68,093 | 63,707 | 60,527 | 58,489 |
| Total equity and liabilities | 8.9% | 118,663 | 108,927 | 107,117 | 97,036 | 94,823 | 96,922 |
| 62 |
| 56 |
| 47 |
| 35 |
| - |
| - |
| Net Cashflows from Operations | 17.9% | 10,534 | 8,937 | 5,630 | 6,759 | - | - |
| Income taxes paid (refund) | 99.4% | 1,644 | 825 | 794 | 1,551 | - | - |
| Net Cashflows From Operating Activities | 9.6% | 8,890 | 8,112 | 4,836 | 5,208 | - | - |
| Cashflows used in obtaining control of subsidiaries | -133.3% | 0 | 4 | 0 | 265 | - | - |
| Proceeds from sales of PPE | 445.5% | 241 | 45 | 52 | 67 | - | - |
| Purchase of property, plant and equipment | 59.1% | 6,007 | 3,776 | 2,726 | 1,506 | - | - |
| Cash receipts from repayment of advances and loans made to other parties | -45.6% | 1,348 | 2,479 | 4,224 | 44 | - | - |
| Dividends received | 12.1% | 38 | 34 | 33 | 31 | - | - |
| Interest received | 61.2% | 420 | 261 | 233 | 123 | - | - |
| Other inflows (outflows) of cash | - | 0 | 0 | -1,047 | 3,068 | - | - |
| Net Cashflows From Investing Activities | -2490% | -7,432 | 312 | -1,481 | -1,937 | - | - |
| Proceeds from issuing shares | - | 0 | 0 | 0 | 6 | - | - |
| Proceeds from issuing other equity instruments | 152.6% | 49 | 20 | 6 | 15 | - | - |
| Payments to acquire or redeem entity's shares | 28.8% | 153 | 119 | 0 | 0 | - | - |
| Proceeds from borrowings | 640.6% | 3,793 | 513 | 700 | 3,500 | - | - |
| Repayments of borrowings | -51% | 3,119 | 6,361 | 7,454 | 1,460 | - | - |
| Payments of lease liabilities | -2.2% | 91 | 93 | 0 | 0 | - | - |
| Dividends paid | 16.7% | 778 | 667 | 890 | 667 | - | - |
| Interest paid | -17.1% | 1,102 | 1,329 | 1,603 | 1,328 | - | - |
| Other inflows (outflows) of cash | - | 0 | 0 | 3,083 | -935 | - | - |
| Net Cashflows from Financing Activities | 82.6% | -1,401 | -8,036 | -6,290 | -869 | - | - |
| Net change in cash and cash eq. | -85.5% | 57 | 388 | -2,935 | 2,402 | - | - |
Earnings Call Transcript • 18 Feb 2026 Transcript of the Q3FY26 Earnings call transcript for the quarter and nine months ended December 31, 2025. |
Analysis of Hindalco Industries's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.
Last Updated: Dec 31, 2025
| Description | Share | Value |
|---|---|---|
| Novelis | 53.2% | 37.3 kCr |
| Copper | 26.0% | 18.2 kCr |
| Aluminium upstream | 15.2% | 10.6 kCr |
| Aluminium downstream | 5.6% | 3.9 kCr |
| Total | 70.1 kCr |