| 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
- ₹977.00
- Market cap
- ₹2,19,554 Cr
- Revenue (annual)
- ₹2,74,944 Cr
- Net profit (annual)
- ₹13,391 Cr
- P/E (TTM)
- 13.4×Sector 19.0×
- 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.
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- Execution
- 16.01.2024-21.09.2026
Hindalco Industries Other Announcement
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Hindalco Industries Q1 FY27 Results: Net Profit ₹7,013 Cr, Up 75.1% YoY
Hindalco Industries Ltd reported revenue from operations of ₹84,825 Cr (+32.1% YoY) and net profit of ₹7,013 Cr (+75.1% YoY) for Q1 FY27.
- Key figure
- Net profit ₹7,013 Cr · +75.1% YoY
Hindalco Industries Earnings Call: Key Takeaways
Hindalco delivered solid Q4 FY26 performance with consolidated EBITDA at ₹10,812 Cr (up 11% YoY). Strategy focuses on massive upstream and downstream expansion while maintaining net debt/EBITDA under 2x.
Hindalco Industries Earnings Call: Key Takeaways
Hindalco delivered solid EBITDA growth despite exceptional items from the Oswego fire. Management remains focused on aggressive capex and cost-efficiency as primary growth drivers.