| Revenue growth | India Upstream revenue up 11% YoY; Novelis shipments down 4% due to fire. |
|---|---|
| Margins | India margins resilient at 48%; Novelis structural cost reduction program accelerating. |
| Demand visibility | Strong domestic demand in automotive, electrical, and packaging sectors. |
| Management confidence | Balanced; optimistic on long-term structural cost reductions and India demand. |
Growth
India business EBITDA rose 17% YoY. Novelis maintained EBITDA/ton near $500 despite fire-related volume losses and adverse tariff impacts.
Outlook
Targeting $600/ton Novelis EBITDA and doubling India upstream capacity. FY27 India capex set at ₹12,000 Cr.
Risks
Novelis fire recovery timing and higher input costs (furnace oil) in India pose margin pressures. High debt levels from massive capex.
Last quarter's promises, checked
Delivered
- Guided FY26 exit savings $125M → delivered $200M (= BEAT)
- Guided Net Debt/EBITDA < 2x → delivered 1.83x (= BEAT)
- Guided India Upstream EBITDA/ton 1st decile → delivered 48% margin (= BEAT)
Partly delivered
- Guided Novelis EBITDA/ton $600 → delivered $543 (= PARTIAL)
- Guided Copper EBITDA ₹600Cr → delivered ₹907Cr (= BEAT)
Missed
- Guided Novelis shipments 957 KT → delivered 917 KT (= MISS)
Earnings Call Transcript filed with NSE, NSE: HINDALCO. Summary written with AI assistance from the document.
Hindalco Industries Ltd: key numbers
- Share price
- ₹940.50
- Market cap
- ₹2,11,352 Cr
- Revenue (annual)
- ₹2,74,944 Cr
- Net profit (annual)
- ₹13,391 Cr
- P/E (TTM)
- 12.9×Sector 18.4×
- Promoter holding
- 34.66%+0.02% QoQ
- FII holding
- 31.41%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Hindalco Industries Ltd
All →Hindalco Industries Board Meeting Date
Hindalco Industries scheduled a board meeting on November 6, 2026, to approve its Q2 FY27 unaudited financial results. The trading window remains closed starting October 1, 2026.
Hindalco Industries Capital Structure Change
LIC reduced its shareholding in Hindalco Industries by 45.35 million shares through market sales. This divestment lowers the institutional investor's stake to 4.33%.
- Execution
- 16.01.2024-21.09.2026
Hindalco Industries Other Announcement
Hindalco disclosed an independent ESG rating of 67 by Niche Ninety Nine. The score reflects the company's environmental, social and governance performance.
Hindalco Industries Production Started
Hindalco Industries commissioned India's first greenfield Superfine PPT ATH plant in Belagavi, Karnataka. The facility has an initial annual production capacity of 30,000 tonnes.
Hindalco Industries Merger & Restructuring Worth ₹0.05 Cr
Hindalco Industries Limited has incorporated UHG Holdings IFSC Private Limited as an associate company. Hindalco invested ₹0.05 Crore to acquire a 50% stake in the entity.
- Value
- ₹0.05 Cr
Hindalco Industries Merger & Restructuring
Hindalco provides an update on the acquisition of AluChem Companies, Inc. The CFIUS review timeline is now extended to September 2, 2026, due to U.S. government shutdowns.