HINDALCO
Hindalco Industries share price & financials
- Price
- ₹1,010
- Market cap
- ₹2.4L Cr
- Sector
- Metals & Mining
- Calls analysed
- 8
Hindalco Industries Limited Q1 FY27
What went well
- Consolidated business segment EBITDA up 58% YoY at INR13,481 crores.
- Consolidated PAT up 75% YoY at INR7,013 crores.
- Hindalco India business segment EBITDA up 73% YoY at INR8,606 crores.
What to watch
- Copper concentrate availability tight, TC/RC at historically low/negative levels (-26 to -30 cents per pound).
- Novelis shipments declined 5% YoY to 916 KT due to Oswego fire impact.
What Hindalco Industries Limited does
Hindalco is the metals flagship of the Aditya Birla Group and an integrated aluminium and copper producer. In India it runs the full aluminium value chain — bauxite mining, alumina refining, primary smelting and downstream rolled products, foils, extrusions and battery enclosures — alongside a copper smelting and refining business. Through its wholly owned US subsidiary Novelis, it is the world leader in aluminium rolling and the largest recycler of aluminium, serving aerospace, automotive, beverage-packaging and specialties customers across North America, Europe, Asia and South America.
Segments
- Aluminium India — Upstream
- Aluminium India — Downstream
- Copper
- Novelis
- Market position
- Industry leader in aluminium and copper; metals flagship of the Aditya Birla Group
- Novelis global position
- World leader in aluminium rolling and world's largest recycler of aluminium
- Novelis operating regions
- North America, Europe, Asia and South America
- India upstream aluminium cost position
- First quartile of the global cost curve
- Utkal Alumina refinery
- Among the world's most efficient alumina refineries
- India renewable energy capacity
- 470 MW
Guidance record · Q1 FY27
what the last two calls moved 26 tracked 3 delivered 3 missed 20 open- Copper Quarterly EBITDA delivered said Q3 FY25 Promised: Around Rs. 600 crores quarterly for FY26 Q1 FY27: This promise for FY26 was concluded and achieved. No new updates.
- India Downstream EBITDA/ton missed said Q4 FY25 Promised: $250 to $300 for FY26 Q1 FY27: This promise for FY26 was concluded and missed. Management has issued new long-term guidance for this metric.
- Novelis FY26 Exit Cost Savings revised up said Q1 FY26 Promised: Over $100 million (raised from $75M) Q1 FY27: This promise for FY26 was concluded and significantly exceeded. No new updates.
All 26 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 32.1%, net profit up 75.1% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 58,203 | 58,390 | 64,890 | 64,232 | 66,058 +13% | 66,521 +14% | 78,133 +20% | 84,825 +32% |
| EBITDA | 7,883 | 7,583 | 8,836 | 7,906 | 8,966 +14% | 7,991 +5% | 10,014 +13% | 13,932 +76% |
| Net profit | 3,909 | 3,735 | 5,284 | 4,004 | 4,741 +21% | 2,049 −45% | 2,597 −51% | 7,013 +75% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +32.1% 1Y
1Y: ₹743.15 on 10 Sept 2025 → ₹981.5. High ₹1,149.7 (27 May 2026), low ₹741.05 (24 Sept 2025).
How the price took the results
close before → close after
- Q1 FY27
- +3.2%
- 7 Aug
- Q4 FY26
- +0.4%
- 26 May
- Q3 FY26
- −0.2%
- 12 Feb
- Q2 FY26
- +0.3%
- 7 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 7.2% a year over 3 years, FY23 to FY26. Operating margin widened to 12.7%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹223.2k Cr | ₹216.0k Cr | ₹238.5k Cr | ₹274.9k Cr |
| Operating profit | ₹22.7k Cr | ₹23.9k Cr | ₹31.8k Cr | ₹34.9k Cr |
| Operating margin | 10.2% | 11.1% | 13.3% | 12.7% |
| Interest | ₹3.6k Cr | ₹3.9k Cr | ₹3.4k Cr | ₹3.5k Cr |
| Depreciation | ₹7.1k Cr | ₹7.5k Cr | ₹7.9k Cr | ₹8.8k Cr |
| Net profit | ₹10.1k Cr | ₹10.2k Cr | ₹16.0k Cr | ₹13.4k Cr |
| Net margin | 4.5% | 4.7% | 6.7% | 4.9% |
| Cash from operations | ₹19.2k Cr | ₹24.1k Cr | ₹24.4k Cr | ₹10.3k Cr |
| Free cash flow | ₹9.6k Cr | ₹8.4k Cr | ₹4.0k Cr | ₹-19.5k Cr |
| ROCE | 11.0% | 11.0% | 15.0% | 13.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹222 Cr | ₹222 Cr | ₹222 Cr | ₹222 Cr | ₹222 Cr | ₹222 Cr |
| Reserves | ₹66.3k Cr | ₹78.0k Cr | ₹94.6k Cr | ₹105.9k Cr | ₹134.6k Cr | ₹136.4k Cr |
| Borrowings | ₹67.2k Cr | ₹64.5k Cr | ₹60.3k Cr | ₹56.4k Cr | ₹74.9k Cr | ₹99.2k Cr |
| Other liabilities | ₹55.1k Cr | ₹79.2k Cr | ₹68.4k Cr | ₹68.2k Cr | ₹86.9k Cr | ₹108.9k Cr |
| Total liabilities | ₹188.8k Cr | ₹221.9k Cr | ₹223.5k Cr | ₹230.7k Cr | ₹296.7k Cr | ₹344.7k Cr |
| Fixed assets | ₹100.3k Cr | ₹106.9k Cr | ₹110.6k Cr | ₹111.8k Cr | ₹122.4k Cr | ₹130.3k Cr |
| Capital work in progress | ₹10.2k Cr | ₹4.9k Cr | ₹7.7k Cr | ₹14.9k Cr | ₹34.7k Cr | ₹49.5k Cr |
| Investments | ₹17.1k Cr | ₹14.1k Cr | ₹14.1k Cr | ₹15.4k Cr | ₹29.5k Cr | ₹25.0k Cr |
| Other assets | ₹61.2k Cr | ₹95.9k Cr | ₹91.0k Cr | ₹88.6k Cr | ₹110.1k Cr | ₹139.9k Cr |
| Total assets | ₹188.8k Cr | ₹221.9k Cr | ₹223.5k Cr | ₹230.7k Cr | ₹296.7k Cr | ₹344.7k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs trimmed −5.11 pp while FIIs added +3.81 pp. The shareholder count grew 1% to 6,99,601.
- Promoters
- 34.7%
- FIIs
- 31.4%
- DIIs
- 19.8%
- Government
- 0.3%
- Public
- 13.3%
- Others
- 0.5%
Since Jun 2025
- DIIs −5.11 pp
- FIIs +3.81 pp
- Public +1.25 pp
How it drifted, 12 quarters
Over this window DIIs fell from 25.8% to 19.8% — −6.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 34.6%, FIIs 27.0%, DIIs 25.8%, Government 0.2%, Public 11.9%, Others 0.4%.Dec '23: Promoters 34.6%, FIIs 27.9%, DIIs 25.1%, Government 0.3%, Public 11.6%, Others 0.5%.Mar '24: Promoters 34.6%, FIIs 26.8%, DIIs 25.6%, Government 0.3%, Public 12.1%, Others 0.5%.Jun '24: Promoters 34.6%, FIIs 27.2%, DIIs 25.4%, Government 0.3%, Public 12.0%, Others 0.4%.Sep '24: Promoters 34.6%, FIIs 28.6%, DIIs 24.2%, Government 0.3%, Public 11.8%, Others 0.5%.Dec '24: Promoters 34.6%, FIIs 28.0%, DIIs 24.5%, Government 0.3%, Public 12.0%, Others 0.5%.Mar '25: Promoters 34.6%, FIIs 28.1%, DIIs 24.7%, Government 0.3%, Public 11.7%, Others 0.5%.Jun '25: Promoters 34.6%, FIIs 27.6%, DIIs 24.9%, Government 0.3%, Public 12.0%, Others 0.5%.Sep '25: Promoters 34.6%, FIIs 28.1%, DIIs 24.1%, Government 0.3%, Public 12.2%, Others 0.5%.Dec '25: Promoters 34.6%, FIIs 28.2%, DIIs 23.2%, Government 0.3%, Public 13.2%, Others 0.5%.Mar '26: Promoters 34.6%, FIIs 30.0%, DIIs 21.4%, Government 0.3%, Public 13.2%, Others 0.5%.Jun '26: Promoters 34.7%, FIIs 31.4%, DIIs 19.8%, Government 0.3%, Public 13.3%, Others 0.5%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- ICICI Prudential Large & Mid Cap Fund Mutual fund newly disclosed 1.35% held
- NPS Trust- A/C SBI Pension Fund Scheme - State Govt Pension / PF +0.20 pp 2.52% held
The same filing shows 2 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Hindalco Industries Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Igh Holdings Private Limited | 15.58% | unchanged |
| Birla Group Holdings Private Limited | 11.38% | unchanged |
| Life Insurance Corporation Of India Insurer | 4.59% | −0.23 pp |
| Morgan Guaranty Trust Company Of New York, Asdepositary | 4.18% | unchanged |
| Grasim Industries Ltd | 3.92% | unchanged |
| Government Of Singapore Sovereign | 2.65% | unchanged |
| NPS Trust- A/C SBI Pension Fund Scheme - State Govt Pension / PF | 2.52% | +0.20 pp |
| SBI Nifty 50 ETF Mutual fund | 2.29% | −1.90 pp |
| ICICI Prudential Large & Mid Cap Fund Mutual fund | 1.35% | newly disclosed |
| Pilani Investment And Industries | 1.33% | unchanged |
| Aditya Birla Sun Life Trustee Private Limited A/C - Aditya Birla Sun Life Large Cap Fund Mutual fund | 1.11% | unchanged |
| Birla Institute Of Technology And Science | 0.96% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in HINDALCO
Filings to Aug 2026
1 new, 17 added, 8 trimmed, 1 sold out — net −23.14 L shares (−3.4%).
- Held by funds
- ₹6.6k Cr
- 38 schemes
- Biggest holder
- SBI Nifty 50 ETF
- ₹2.9k Cr · 1.3% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Nifty 50 ETF SBI Mutual Fund | ₹2.9k Cr | +1.48 L | Aug '21 |
| Nippon India ETF Nifty 50 BeES Nippon India Mutual Fund | ₹895 Cr | +1.77 L | Jan '19 |
| SBI Contra Fund SBI Mutual Fund | ₹573 Cr | held | Sep '23 |
| SBI ELSS Tax Saver Fund SBI Mutual Fund | ₹465 Cr | held | Jun '23 |
| HDFC Arbitrage Fund HDFC Mutual Fund | ₹272 Cr | +14.38 L | Feb '26 |
| SBI Arbitrage Fund SBI Mutual Fund | ₹239 Cr | −8.56 L | Aug '21 |
| HDFC Large and Mid Cap Fund HDFC Mutual Fund | ₹233 Cr | held | Dec '22 |
| SBI Nifty Index Fund SBI Mutual Fund | ₹186 Cr | +0.06 L | Aug '21 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
17 added, 8 trimmed — net −23.14 L shares (−3.4%)
- Funds are sitting on
- +68%
- vs est. average cost
- Held by funds
- ₹6.6k Cr
- 38 schemes · ≈ 2.8% of the company
- Biggest holder
- SBI Nifty 50 ETF
- ₹2.9k Cr · 1.3% of that fund
- Longest holder
- Nippon India Index Fund - Nifty 50 Plan
- 14y · since Sep '12
Shares held by these funds −36%
Aug '23 6.94 cr shares Jul '26
All earnings calls (8)
Read the Q1 FY27 call →Learn to analyse Hindalco Industries Limited
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