Non - Ferrous Metals
Valuation | |
|---|---|
| Market Cap | 2.04 LCr |
| Price/Earnings (Trailing) | 12.55 |
| Price/Sales (Trailing) | 0.77 |
| EV/EBITDA | 7.95 |
| Price/Free Cashflow | 46.61 |
| MarketCap/EBT | 9.46 |
| Enterprise Value | 2.66 LCr |
Fundamentals | |
|---|---|
Growth & Returns | |
|---|---|
| Price Change 1W | -3.6% |
| Price Change 1M | -4.8% |
| Price Change 6M | 30.7% |
| Price Change 1Y | 50.9% |
| 3Y Cumulative Return | 27.9% |
| 5Y Cumulative Return | 25.6% |
| 7Y Cumulative Return | 25.4% |
| 10Y Cumulative Return | 30.2% |
| 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 | 9% |
| Return on Equity | 13.17% |
| Return on Assets | 5.99% |
| Free Cashflow Yield | 2.15% |
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 | 6.41 |
| 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% |
Balance Sheet: Strong Balance Sheet.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Past Returns: Outperforming stock! In past three years, the stock has provided 27.9% return compared to 12.4% by NIFTY 50.
Size: It is among the top 200 market size companies of india.
Smart Money: Smart money has been increasing their position in the stock.
Momentum: Stock is suffering a negative price momentum. Stock is down -4.8% in last 30 days.
Balance Sheet: Strong Balance Sheet.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Past Returns: Outperforming stock! In past three years, the stock has provided 27.9% return compared to 12.4% by NIFTY 50.
Size: It is among the top 200 market size companies of india.
Smart Money: Smart money has been increasing their position in the stock.
Momentum: Stock is suffering a negative price momentum. Stock is down -4.8% 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) | 43.64 |
| RSI (5d) | 30.55 |
| RSI (21d) | 43.98 |
| MACD Signal | Sell |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Sell |
| RSI Signal | Hold |
| RSI5 Signal | Hold |
| RSI21 Signal | Hold |
| SMA 5 Signal | Sell |
| 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 Q2 FY26 Earnings Conference Call, Hindalco Industries' management provided a positive outlook, emphasizing resilient performance amid economic challenges. Key highlights include:
Financial Performance: Consolidated business segment EBITDA rose 6% year-on-year to INR 9,104 crores, with a net profit after tax increasing by 21% to INR 4,741 crores.
Aluminium Demand: Demand in India for Q2 FY26 is projected at 1.5 million tons, marking an 8% growth year-on-year, driven by robust performance in electrical and solar sectors as well as automotive growth linked to GST 2.0 reform.
Copper Market Growth: Domestic copper demand surged 11% year-on-year to 420 Kt, bolstered by infrastructure investments and strong sectoral demand, particularly in electrical applications.
Future Plans for Capex: Hindalco is planning capital expenditures of around INR 11,000 crores for FY27 and aims to maintain its consolidated net leverage below 2 times, positioning itself for future growth while managing debt.
Renewable Energy Initiatives: The company is on track to increase its renewable energy capacity by an additional 230 MW, potentially reaching a total of 522 MW by the end of FY26, supporting its commitment to sustainability.
Hedging Strategy: For Q3 FY26, Hindalco has hedged around 31% of its commodity exposure at approximately $2,700 per ton and 26% on currency at INR 87.5 per dollar.
Bay Minette Project: The project is progressing with a total cost revised to about $5 billion. Management is confident in the project's internal rate of return being above the cost of capital despite previous cost overruns.
Long-term Goals: Novelis is focused on reducing its cost structure by $300 million by FY28, with a run rate now increased to $125 million. Management envisions capturing long-term sustainable value through strategic expansions and efficiency improvements.
Overall, Hindalco's management conveyed strong confidence in navigating economic uncertainties while pursuing growth opportunities across both aluminium and copper sectors.
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 | 12.55 | 16.62 |
| PS | 0.77 | 1.77 |
| 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.
| Sell |
| SMA 20 Signal | Sell |
| SMA 50 Signal | Sell |
| SMA 100 Signal | Sell |
HINDALCO vs Non (2021 - 2026)
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
Analyst / Investor Meet • 12 Feb 2026 Audio Recording - Q3FY26 Earnings call of the Company |
General • 12 Feb 2026 Announcement regarding intention to appoint SRBC & Co LLP as Statutory Auditors from the Annual General Meeting to be held in FY28 |
Investor Presentation • 12 Feb 2026 Presentation on Unaudited and Consolidated Financial Results for the quarter and nine months ended December 31, 2025 |
Press Release / Media Release • 12 Feb 2026 Press Release for unaudited Standalone and Consolidated Financial results for quarter and nine months ended December 31, 2025 |
Acquisition • 11 Feb 2026 Update on the Acquisition of AluChem Companies, Inc. by Aditya Holdings LLC a step-down wholly owned subsidiary of a Company. |
This information is AI-generated and may contain inaccuracies. Please verify from multiple sources.
Q1: Satish Pai - Can you clarify what is the hedging position for the second half of FY26?
Yes, for Q3, we are hedged at 31% at $2,700 per ton. In Q4, we have increased to 49% at $2,760 due to recent LME rises. We began locking in FY27 volumes and are currently about 10% hedged at $2,800.
Q2: Sumangal Nevatia - What is the net impact of tariffs on Novelis earnings?
This quarter's impact is $54 million, down from our previous guidance of $60 million. Mitigation efforts are underway by relocating manufacturing to the U.S. to minimize tariff impacts, and we anticipate significant completion of this strategy by year-end.
Q3: Satyadeep Jain - Regarding the expansion strategy for aluminium, how do you reconcile increasing hedging with new smelter projects?
Hedging remains part of our strategy; we target a 20% hedge as insurance yearly. Expansion decisions are based on long-term projections. Given our competitive cost structure and integrated coal sources, we foresee strong returns from our smelter expansions.
Q4: Amit Lahoti - Can Novelis pass through tariff and capex inflation in new contracts?
Yes, the tight North American market enables opportunities for price increases on uncontracted volumes. Renewals of contracts will also likely see adjustments to reflect tariff-related costs.
Q5: Somaiah V - What drives the current weakness in the MJP premium market despite holding LME prices?
The MJP market reflects regional aluminium demand challenges, primarily influenced by tariffs affecting Japanese and Korean automakers. Having signed recent deals may lead to an uptick in MJP rates in Q3 and Q4.
Q6: Amit Kumar Murarka - What are the alumina volume projections for Q3?
We sold 199 Kt in Q2. We anticipate around 170 Kt in Q3 due to planned shutdowns at Utkal. Annually, our sales will likely total 700 Kt to 800 Kt, although it wouldn't be a strict quarterly distribution.
Q7: Tarang Agrawal - How do you ensure forecast accuracy when considering high volatility in LME prices?
We plan for the long term. Current projections assume LME prices around $2,500 starting from FY28. While fluctuations exist, strong market fundamentals provide a favorable outlook for our alumina projects.
Q8: Ritesh Shah - Can you explain the rationale behind raising $750 million at AV Minerals?
Raising this capital as debt will help mitigate Novelis's net debt levels and demonstrate parental support without negatively impacting its credit rating. This approach ensures we maintain a solid overall financial structure.
Q9: Satish Pai - What is the timeline for the Chakla and Bandha mine box cuts?
Both are expected to be completed in the upcoming months, with Chakla projected for December or January. We are on track with our timelines for these enhancements.
| 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
| -0.30% |
| +58.70% |
| 18.56 |
| 1.82 |
| - |
| - |
| TATASTEEL | TATA STEEL | 2.54 LCr | 2.27 LCr | +7.40% | +49.10% | 27.61 | 1.12 | - | - |
| HINDZINC | Hindustan Zinc | 2.5 LCr | 37.42 kCr | -9.40% | +44.00% | 21.22 | 6.69 | - | - |
| NATIONALUM | National Aluminium Co. | 64.15 kCr | 18.69 kCr | -6.50% | +82.40% | 10.44 | 3.43 | - | - |
| HINDCOPPER | Hindustan Copper | 57.21 kCr | 2.74 kCr | +3.30% | +161.90% | 86.5 | 20.89 | - | - |
| 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 | - | - |
Investor Presentation • 11 Feb 2026 Please find enclosed herewith the Investor Presentation of Novelis Inc. (a wholly owned subsidiary) for Q3 FY 26 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 |