Hindalco Industries Ltd

₹ 1,058 2.37%

24 Aug - close price

hindalco.com BSE: 500440 NSE: HINDALCO F&O

About

Incorporated in 1958, Hindalco Industries Ltd. is a flagship company of the Aditya Birla Group. The Co and its subsidiaries are primarily engaged in the production of Aluminium and Copper. It is also
engaged in the manufacturing of aluminium sheet, extrusion and light gauge products for use in packaging markets like beverage and food, can and foil products, etc. ^[1]

Key Points

Business Segments:^[1]
a) Novelis (63% in Q1 FY27 vs 61% in Q1 FY26):^[2] ^[3]^[4]
The segment comprises Novelis Inc., a wholly owned foreign subsidiary of the company, along with its step-down subsidiaries, which manufacture and sell aluminium sheet and light-gauge products across North America, South America, Europe, and Asia. Novelis is the world’s leading producer of automotive and beverage can sheet. It is also the world’s largest aluminium recycler. The segment reported a total shipment of 916 KT in Q1 FY27 vs 963 KT in Q1 FY26.
b) Copper (20% in Q1 FY27 vs 23% in Q1 FY26):^[2] ^[5]
The copper business manufactures copper cathodes, copper rods, precious metals and di-ammonium phosphate (DAP). It serves more than half of the country’s refined copper demand and is also the world’s 2nd-largest producer of copper rods.
Sales (KT):^[6]
-Metal: 105 in Q1 FY27 vs 124 in Q1 FY26
-CC Rods: 96 in Q1 FY27 vs 104 in Q1 FY26
c) Aluminium (17% in Q1 FY27 vs 16% in Q1 FY26):^[7]^[8] ^[9]
The aluminium business operates a fully integrated value chain covering bauxite mining,
alumina refining, aluminium smelting, casting and downstream manufacturing. Its product portfolio includes alumina, aluminium ingots, billets, wire rods, and high-value downstream products such as flat rolled products, extrusions, and foils. The company is India’s only fully integrated aluminium player, Asia’s largest producer of primary aluminium and one of the country’s largest downstream aluminium producers.
Sales (KT): ^[10]
-Upstream: 335 in Q1 FY27 vs 325 in Q1 FY26
-Downstream: 104 in Q1 FY27 vs 101 in Q1 FY26
Downstream Product Mix:^[11]
-FRP and Foils: 80% in Q1 FY27 vs 79% in Q1 FY26
-Extrusion: 20% in Q1 FY27 vs 21% in Q1 FY26
d) Specialty Alumina: ^[9]^[12]
The company is one of India’s leading manufacturers of specialty alumina and hydrates. Its specialty alumina portfolio, marketed under brands such as PrizTec, InnoSafe and FUSALOX, caters to diverse applications including refractories, ceramics, abrasives, flame retardants, water treatment, etc.

Website BSE NSE F&O

Market Cap ₹ 2,37,124 Cr.
Current Price ₹ 1,058
High / Low ₹ 1,179 / 697
Stock P/E 11.4
Book Value ₹ 608
Dividend Yield 0.47 %
ROCE 13.2 %
ROE 13.0 %
Face Value ₹ 1.00

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Pros

Company has delivered good profit growth of 35.2% CAGR over last 5 years

Cons

Company has a low return on equity of 12.5% over last 3 years.
Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Commodities Metals & Mining Non - Ferrous Metals Aluminium

Part of Nifty 50 BSE 500 BSE 100 BSE 200 BSE Dollex 200 Nifty 500 BSE Metal Nifty 100 BSE Dollex 100 Nifty Metal Nifty 200 Nifty Commodities Nifty Alpha 50 Nifty50 Value 20 Nifty 100 Equal Weight BSE Commodities BSE India Manufacturing Index BSE SENSEX 50 BSE 100 ESG Index (INR) BSE 250 LargeMidCap Index BSE Dividend Stability Index BSE Enhanced Value Index BSE Momentum Index Nifty 50 Equal Weight BSE 100 LargeCap TMC Index Nifty200 Momentum 30 Nifty LargeMidcap 250 Nifty 500 Multicap 50:25:25 Nifty100 ESG Nifty India Manufacturing Nifty Total Market Nifty Alpha Low-Volatility 30 Nifty50 Shariah Nifty500 Shariah Nifty500 Multicap India Manufacturing 50:30:20 Nifty200 Alpha30 BSE SENSEX Next 30 Nifty500 Value 50 Nifty100 Enhanced ESG Nifty Alpha Quality Value Low-Volatility 30 BSE Select Business Groups BSE 200 Equal Weight BSE Sensex Sixty 65:35 BSE Sensex Sixty Nifty500 Momentum 50 Nifty 100 Alpha 30 Index Nifty India Select 5 Corporate Groups Nifty200 Value 30 Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted Nifty500 Multifactor MQVLv50 BSE India 150 BSE 1000 BSE 500 Momentum 50 Nifty Conglomerate 50 Nifty India FPI 150

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	52,991	54,169	52,808	55,994	57,013	58,203	58,390	64,890	64,232	66,058	66,521	78,133	84,825
	47,277	48,557	46,943	49,314	49,510	50,320	50,807	56,054	56,326	57,092	58,530	68,119	70,893
Operating Profit	5,714	5,612	5,865	6,680	7,503	7,883	7,583	8,836	7,906	8,966	7,991	10,014	13,932
OPM %	11%	10%	11%	12%	13%	14%	13%	14%	12%	14%	12%	13%	16%
	381	496	281	362	96	561	469	706	604	532	-2,061	-3,146	-1,236
Interest	992	1,034	944	888	859	869	817	874	754	803	881	1,042	966
Depreciation	1,786	1,843	1,874	2,018	1,892	1,932	1,939	2,118	2,080	2,155	2,220	2,375	2,337
Profit before tax	3,317	3,231	3,328	4,136	4,848	5,643	5,296	6,550	5,676	6,540	2,829	3,451	9,393
Tax %	26%	32%	30%	23%	37%	31%	29%	19%	29%	28%	28%	25%	25%
	2,454	2,196	2,331	3,174	3,074	3,909	3,735	5,284	4,004	4,741	2,049	2,597	7,013
EPS in Rs	10.92	9.77	10.37	14.12	13.68	17.39	16.62	23.51	17.82	21.10	9.12	11.56	31.21
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	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
	104,281	98,759	100,184	115,183	130,542	118,144	132,008	195,059	223,202	215,962	238,496	274,944	295,537
	95,437	90,981	87,867	101,488	115,031	103,838	114,449	166,712	200,536	192,090	206,691	240,064	254,634
Operating Profit	8,844	7,778	12,317	13,695	15,511	14,306	17,559	28,347	22,666	23,872	31,805	34,880	40,903
OPM %	8%	8%	12%	12%	12%	12%	13%	15%	10%	11%	13%	13%	14%
	-832	1,500	1,198	2,879	1,127	906	-987	1,253	1,307	1,519	1,832	-4,074	-5,911
Interest	4,178	5,134	5,742	3,911	3,778	4,197	3,738	3,768	3,646	3,858	3,419	3,480	3,692
Depreciation	3,493	4,347	4,457	4,506	4,777	5,091	6,628	6,729	7,086	7,521	7,881	8,830	9,087
Profit before tax	340	-203	3,315	8,157	8,083	5,924	6,206	19,103	13,241	14,012	22,337	18,496	22,213
Tax %	75%	245%	43%	25%	32%	36%	44%	28%	24%	28%	28%	28%
	259	-702	1,882	6,083	5,495	3,767	3,483	13,730	10,097	10,155	16,002	13,391	16,400
EPS in Rs	4.14	-1.21	8.47	27.10	24.48	16.77	15.50	61.10	44.93	45.19	71.20	59.59	72.99
Dividend Payout %	24%	-82%	13%	4%	5%	6%	19%	6%	7%	8%	7%	8%

Compounded Sales Growth
10 Years:	11%
5 Years:	16%
3 Years:	7%
TTM:	20%

Compounded Profit Growth
10 Years:	78%
5 Years:	35%
3 Years:	19%
TTM:	20%

Stock Price CAGR
10 Years:	21%
5 Years:	20%
3 Years:	33%
1 Year:	50%

Return on Equity
10 Years:	11%
5 Years:	13%
3 Years:	13%
Last Year:	13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	207	207	223	223	222	222	222	222	222	222	222	222
Reserves	38,122	40,402	45,836	54,629	57,279	58,095	66,311	77,969	94,584	105,924	123,487	136,361
	68,468	67,552	63,817	52,074	52,415	68,399	67,206	64,486	60,291	56,356	65,642	99,165
	34,950	32,986	36,268	40,088	42,056	41,902	55,083	79,178	68,392	68,221	74,949	108,933
Total Liabilities	141,746	141,146	146,144	147,014	151,972	168,618	188,822	221,855	223,489	230,723	264,300	344,681
	71,959	85,648	84,687	85,088	85,860	89,195	100,269	106,874	110,626	111,810	116,556	130,251
CWIP	14,111	4,214	1,814	2,063	4,097	7,721	10,202	4,945	7,700	14,867	27,397	49,526
Investments	12,346	12,463	15,157	10,781	9,012	9,411	17,133	14,119	14,116	15,444	24,158	24,958
	43,330	38,821	44,486	49,081	53,003	62,291	61,218	95,917	91,047	88,602	96,189	139,946
Total Assets	141,746	141,146	146,144	147,014	151,972	168,618	188,822	221,855	223,489	230,723	264,300	344,681

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	7,143	11,688	12,687	10,898	11,977	12,665	17,232	16,838	19,208	24,056	24,410	10,250
	-3,873	-3,220	-2,876	5,333	-5,456	-7,101	-25,280	-6,773	-7,559	-14,267	-24,609	-25,783
	-2,437	-8,862	-5,552	-16,412	-5,466	6,610	-4,882	-6,765	-10,450	-10,817	-1,816	20,087
Net Cash Flow	833	-394	4,259	-181	1,055	12,174	-12,930	3,300	1,199	-1,028	-2,015	4,554
Free Cash Flow	1,427	7,636	9,818	7,942	6,009	5,933	11,715	11,483	9,571	8,378	4,006	-19,508
CFO/OP	94%	166%	109%	94%	89%	89%	105%	73%	97%	112%	94%	48%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	32	29	30	32	32	29	36	39	27	28	30	36
Inventory Days	104	103	120	115	103	120	146	138	111	111	121	156
Days Payable	87	92	115	108	96	98	135	128	93	94	100	127
Cash Conversion Cycle	49	40	36	38	39	51	47	49	45	45	51	65
Working Capital Days	-6	4	-17	17	18	3	3	-3	13	9	23	2
ROCE %	6%	4%	8%	10%	11%	9%	9%	17%	11%	11%	15%	13%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Novelis FRP (Flat Rolled Products) Shipments
KT

	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx
x,xxx	x,xxx	x,xxx	x,xxx	x,xxx				x,xxx	x,xxx	x,xxx	x,xxx
xxx	xxx	xxx	xxx	xxx				xxx	xxx	xxx	xxx
	x,xxx	x,xxx	x,xxx	x,xxx				x,xxx	x,xxx	x,xxx	x,xxx
								xxx	xxx	xxx	xxx
								xx.xx	xx.xx	xx.xx	xx.xx
										xx	xx
										xxx	xxx

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India Alumina Production
KT ・Standalone data

India Copper Cathode Production
KT ・Standalone data

India Aluminium Metal Production
KT ・Standalone data

India Aluminium Downstream Production (FRP + Extrusions + Foils)
KT ・Standalone data

India Aluminium Specific GHG Emissions Intensity
tCO2e/t aluminium ・Standalone data

India Aluminium Upstream Domestic Sales Mix
% ・Standalone data

India Renewable Energy Capacity
MW ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	34.65%	34.65%	34.65%	34.65%	34.65%	34.65%	34.65%	34.65%	34.65%	34.65%	34.65%	34.67%
	27.01%	27.89%	26.82%	27.18%	28.58%	28.04%	28.15%	27.60%	28.13%	28.16%	29.96%	31.41%
	25.78%	25.06%	25.64%	25.41%	24.17%	24.53%	24.68%	24.93%	24.11%	23.17%	21.35%	19.82%
	0.22%	0.35%	0.35%	0.35%	0.35%	0.35%	0.35%	0.35%	0.35%	0.35%	0.35%	0.35%
	11.92%	11.59%	12.08%	11.98%	11.78%	11.99%	11.71%	12.01%	12.23%	13.16%	13.21%	13.26%
	0.42%	0.47%	0.46%	0.44%	0.50%	0.48%	0.47%	0.45%	0.54%	0.51%	0.49%	0.47%
No. of Shareholders	6,13,244	5,49,231	6,41,541	6,49,551	6,45,537	6,94,836	6,81,098	6,90,932	6,65,009	6,79,190	6,91,308	6,99,601

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	34.70%	34.67%	34.66%	34.65%	34.64%	34.65%	34.65%	34.65%	34.65%	34.65%	34.67%
	27.51%	28.09%	23.69%	18.68%	25.00%	28.85%	26.08%	26.82%	28.15%	29.96%	31.41%
	17.76%	19.11%	22.24%	26.27%	20.81%	19.22%	26.20%	25.64%	24.68%	21.35%	19.82%
	0.02%	0.02%	0.12%	0.41%	0.01%	0.01%	0.22%	0.35%	0.35%	0.35%	0.35%
	20.02%	18.11%	19.09%	19.72%	19.28%	16.96%	12.44%	12.08%	11.71%	13.21%	13.26%
	0.00%	0.00%	0.20%	0.26%	0.26%	0.31%	0.41%	0.46%	0.47%	0.49%	0.47%
No. of Shareholders	3,19,787	2,99,521	3,04,345	3,32,014	3,48,471	5,03,729	6,76,110	6,41,541	6,81,098	6,91,308	6,99,601

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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