Hindalco Industries Ltd.

•

hindalco.comBSE: 500440NSE: HINDALCO

Market Cap₹ 2,20,655 Cr.

Current Price

High / Low₹ 1,176 / 732

Stock P/E17.0

Book Value₹ 364

Price to Book2.55

Dividend Yield0.51 %

ROCE17.2 %

ROE13.7 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2019 • Aluminium: 51.6% • Copper: 48.4%

AI Sector View

AI GENERATED

Metals & Mining

Hold

The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.

Confidence

61%

View full sector analysis →

PROS

Company has delivered good profit growth of 59.0% CAGR over last 5 years
Latest quarter profit grew 156.9% YoY, showing strong momentum
Company has delivered good sales growth of 21.4% CAGR over last 5 years
Operating margins have improved to 14.3% from 10.4%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.25x)

CONS

Receivables are growing faster than sales - a possible quality concern
Company has a low return on equity of 9.7% over last 3 years
Growth is decelerating - 3Y profit CAGR (44.7%) trails the 5Y trend (59.0%)
Though reporting repeated profits, the company pays out little dividend (11.0%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Metals & MiningNon - Ferrous MetalsMetal - Non Ferrous

Part ofNIFTY 50 NIFTY ALPHA 50 NIFTY500MOMENTM50 NIFTYLARGEMIDCAP250 NIFTY100 EQL WGT

S.No.	Name
1.	HINDZINC	576.05	14.26	243399.50	1.74	5469.00	144.81	13747.00	81.10	69.83	58.56
2.	HINDALCO	981.90	13.45	220655.17	0.51	7013.00	75.15	84825.00	32.06	10.45	16.43
3.	VEDL	264.35	5.25	103371.11	12.86	7918.00	77.65	24205.00	-35.34	18.72	35.12
4.	HINDCOPPER	514.35	43.76	49738.88	0.56	352.37	162.47	936.50	81.36	39.44	54.17
5.	VOGL	36.76	0.00	14374.59	0.00	9450.00	—	25070.00	—	0.00	32.47
6.	GRAVITA	1667.00	31.39	12303.87	0.38	106.37	14.30	1475.06	41.84	17.18	7.44
7.	JAINREC	284.70	27.22	9824.59	0.00	69.41	22.79	2724.46	75.86	25.74	3.97
8.	CMRGREEN	216.55	22.33	4743.65	0.00	68.18	—	3122.73	91.98	13.41	4.33
9.	POCL	454.50	24.31	3466.84	0.44	358.80	42.58	9348.90	55.08	23.32	5.97
10.	ONIXSOLAR	437.95	26.86	1614.63	0.00	208.97	—	945.10	—	32.85	29.74
11.	ARDEE	50.87	18.93	1603.43	0.00	199.03	—	3388.11	—	49.04	9.90
12.	BHAGYANGR	422.90	22.54	1416.56	0.00	20.24	167.37	705.08	45.20	9.17	5.43

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	19,904	20,676	20,289	22,140	22,155	22,262	23,776	25,116	24,264	24,780	29,264	34,244	30,515
	18,343	18,920	18,326	19,920	19,406	19,513	21,112	22,117	21,126	21,040	25,016	29,098	24,441
Operating Profit	1,561	1,756	1,963	2,220	2,749	2,749	2,664	2,999	3,138	3,740	4,248	5,146	6,074
OPM %	7.84%	8.49%	9.68%	10.03%	12.41%	12.35%	11.20%	11.94%	12.93%	15.09%	14.52%	15.03%	19.90%
	213	199	133	179	155	825	140	209	313	250	322	267	345
Interest	352	338	317	261	244	234	226	235	185	174	252	275	285
Depreciation	482	489	483	507	499	492	514	524	542	564	575	626	626
Profit before Tax	940	1,128	1,296	1,631	2,161	2,848	2,064	2,449	2,724	3,252	3,743	4,512	6,419
Tax %	36.17%	24.91%	35.34%	13.43%	31.93%	33.60%	29.12%	36.26%	31.64%	30.32%	19.40%	34.97%	25.47%
Net Profit	600	847	838	1,412	1,471	1,891	1,463	1,561	1,862	2,266	3,017	2,934	4,784
	2.70	3.81	3.77	6.36	6.62	8.51	6.59	7.03	8.38	10.21	13.59	13.22	21.54

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	36,937	42,809	45,749	40,242	42,701	67,653	76,878	83,009	93,309	1,12,553	1,18,803
	32,211	38,088	41,737	36,649	38,910	56,631	69,604	75,750	82,243	96,415	99,595
Operating Profit	4,726	4,721	4,012	3,593	3,791	11,022	7,274	7,259	11,066	16,138	19,208
OPM %	12.79%	11.03%	8.77%	8.93%	8.88%	16.29%	9.46%	8.74%	11.86%	14.34%	16.17%
	1,178	1,025	1,174	746	974	578	775	965	1,424	1,287	1,184
Interest	2,323	1,901	1,683	1,679	1,483	1,391	1,300	1,268	939	886	986
Depreciation	1,428	1,617	1,693	1,708	1,708	1,752	1,874	1,961	2,029	2,307	2,391
Profit before Tax	2,153	2,229	1,810	952	1,574	8,457	4,875	4,995	9,522	14,232	17,926
Tax %	27.70%	35.55%	33.43%	34.87%	36.91%	34.88%	31.77%	25.99%	32.92%	29.17%	27.47%
Net Profit	1,557	1,436	1,205	620	993	5,507	3,326	3,697	6,387	10,080	13,001
EPS	7.55	6.45	5.41	2.79	4.46	24.73	14.94	16.65	28.77	45.41	—
Dividend Payout %	15.73%	18.62%	22.11%	35.81%	67.07%	16.12%	20.02%	21.02%	17.38%	11.01%	—

COMPOUNDED SALES GROWTH

10 Years:: 13%
5 Years:: 21%
3 Years:: 14%

COMPOUNDED PROFIT GROWTH

10 Years:: 34%
5 Years:: 59%
3 Years:: 45%

STOCK PRICE CAGR

10 Years:: 21%
5 Years:: 16%
3 Years:: 27%
1 Year:: 32%

RETURN ON EQUITY

10 Years:: 6%
5 Years:: 9%
3 Years:: 10%
Last Year:: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	223	223	222	222	222	222	222	222	222	222
	47,082	49,212	48,437	45,357	49,916	54,329	58,465	63,725	70,264	76,858
	27,638	21,101	20,253	24,096	21,429	22,797	18,614	13,532	14,707	18,479
Trade Payables	4,891	5,524	5,734	3,990	8,800	11,015	9,743	8,909	10,355	20,640
	6,802	6,670	6,856	6,393	7,580	10,694	9,878	10,648	13,379	16,141
Total Liabilities	86,635	82,729	81,502	80,058	87,947	99,057	96,922	97,036	1,08,927	1,32,340
	34,375	34,355	33,514	33,359	32,382	32,292	32,096	33,181	34,003	38,942
Capital Work in Progress	712	736	947	1,209	1,587	1,573	2,968	3,979	7,598	6,793
	29,332	27,025	25,494	24,639	31,731	29,655	29,766	29,735	33,991	33,979
	9,268	10,738	11,394	11,225	15,989	20,948	20,186	19,505	22,609	33,716
	0	0	0	0	0	0	0	2,478	3,122	5,234
Cash & Bank	4,335	1,821	1,580	3,280	1,019	6,420	1,789	880	990	1,422
	8,613	8,053	8,573	6,346	5,239	8,169	10,117	7,278	6,614	12,254
Total Assets	86,635	82,729	81,502	80,058	87,947	99,057	96,922	97,036	1,08,927	1,32,340

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	5,790	5,103	3,279	1,471	5,358	6,760	5,630	8,112	8,890	8,134
Cash from Investing	-1,241	2,283	-811	-2,244	-3,486	-1,937	-1,433	312	-7,432	-8,776
Cash from Financing	-584	-9,188	-2,657	1,181	-4,306	-869	-6,338	-8,036	-1,401	1,067
	4,074	-2,491	-297	1,723	-2,228	2,402	-2,935	388	57	425

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
34.64	34.64	34.64	34.64	34.64	34.64	34.64	34.64	34.66
27.18	28.57	28.03	28.13	27.60	28.13	28.16	29.96	31.41
25.41	24.17	24.49	24.64	24.89	24.07	23.13	21.31	19.78
0.23	0.23	0.23	0.23	0.23	0.23	0.23	0.23	0.23
8.73	8.58	8.81	8.54	8.70	8.84	9.55	9.56	9.59

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-11 - Hindalco Industries Limited has informed the Exchange about Schedule of meet

2026-09-11

Copy of Newspaper Publication

2026-09-11 - Hindalco Industries Limited has informed the Exchange about Newspaper Advertisement(s) regarding Notice of Special Window for Re-lodgement of TransferRequests of Physical Shares

2026-09-08

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-08 - Hindalco Industries Limited has informed the Exchange about Schedule of meet

2026-09-05

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-05 - Hindalco Industries Limited has informed the Exchange about Schedule of meet

2026-08-27

Press Release

2026-08-27 - Hindalco Industries Limited has informed the Exchange regarding a press release dated August 27, 2026, titled "Hindalco Commissions India s First Superfine PPT ATH Plant, Strengthening India s Self-Reliance in Cable Fire Safety.".

2026-08-21

Acquisition

2026-08-21 - Hindalco Industries Limited has informed the Exchange about Incorporation of UHG Holdings IFSC Private Limited.

2026-08-19

Copy of Newspaper Publication

2026-08-19 - Newspaper Advertisement of Public Notice regarding Loss of Share Certificates.

2026-08-13

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-13 - Hindalco Industries Limited has informed the Exchange about Transcript

2026-08-11

Copy of Newspaper Publication

2026-08-11 - Hindalco Industries Limited has informed the Exchange about the newspaper publication of Public Notice regarding Loss of Share Certificates.

News

Recent coverage and analyst commentary for HINDALCO

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Hindalco Industries Ltd.

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Name

HINDZINC

576.05

14.26

243399.50

1.74

5469.00

144.81

13747.00

81.10

69.83

58.56

HINDALCO

981.90

13.45

220655.17

0.51

7013.00

75.15

84825.00

32.06

10.45

16.43

VEDL

264.35

5.25

103371.11

12.86

7918.00

77.65

24205.00

-35.34

18.72

35.12

HINDCOPPER

514.35

43.76

49738.88

0.56

352.37

162.47

936.50

81.36

39.44

54.17

VOGL

36.76

0.00

14374.59

0.00

9450.00

—

25070.00

—

0.00

32.47

GRAVITA

1667.00

31.39

12303.87

0.38

106.37

14.30

1475.06

41.84

17.18

7.44

JAINREC

284.70

27.22

9824.59

0.00

69.41

22.79

2724.46

75.86

25.74

3.97

CMRGREEN

216.55

22.33

4743.65

0.00

68.18

—

3122.73

91.98

13.41

4.33

POCL

454.50

24.31

3466.84

0.44

358.80

42.58

9348.90

55.08

23.32

5.97

ONIXSOLAR

437.95

26.86

1614.63

0.00

208.97

—

945.10

—

32.85

29.74

ARDEE

50.87

18.93

1603.43

0.00

199.03

—

3388.11

—

49.04

9.90

BHAGYANGR

422.90

22.54

1416.56

0.00

20.24

167.37

705.08

45.20

9.17

5.43

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

19,904

20,676

20,289

22,140

22,155

22,262

23,776

25,116

24,264

24,780

29,264

34,244

30,515

18,343

18,920

18,326

19,920

19,406

19,513

21,112

22,117

21,126

21,040

25,016

29,098

24,441

Operating Profit

1,561

1,756

1,963

2,220

2,749

2,664

2,999

3,138

3,740

4,248

5,146

6,074

OPM %

7.84%

8.49%

9.68%

10.03%

12.41%

12.35%

11.20%

11.94%

12.93%

15.09%

14.52%

15.03%

19.90%

213

199

133

179

155

825

140

209

313

250

322

267

345

Interest

352

338

317

261

244

234

226

235

185

174

252

275

285

Depreciation

482

489

483

507

499

492

514

524

542

564

575

626

Profit before Tax

940

1,128

1,296

1,631

2,161

2,848

2,064

2,449

2,724

3,252

3,743

4,512

6,419

Tax %

36.17%

24.91%

35.34%

13.43%

31.93%

33.60%

29.12%

36.26%

31.64%

30.32%

19.40%

34.97%

25.47%

Net Profit

600

847

838

1,412

1,471

1,891

1,463

1,561

1,862

2,266

3,017

2,934

4,784

2.70

3.81

3.77

6.36

6.62

8.51

6.59

7.03

8.38

10.21

13.59

13.22

21.54

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

36,937

42,809

45,749

40,242

42,701

67,653

76,878

83,009

93,309

1,12,553

1,18,803

32,211

38,088

41,737

36,649

38,910

56,631

69,604

75,750

82,243

96,415

99,595

Operating Profit

4,726

4,721

4,012

3,593

3,791

11,022

7,274

7,259

11,066

16,138

19,208

OPM %

12.79%

11.03%

8.77%

8.93%

8.88%

16.29%

9.46%

8.74%

11.86%

14.34%

16.17%

1,178

1,025

1,174

746

974

578

775

965

1,424

1,287

1,184

Interest

2,323

1,901

1,683

1,679

1,483

1,391

1,300

1,268

939

886

986

Depreciation

1,428

1,617

1,693

1,708

1,752

1,874

1,961

2,029

2,307

2,391

Profit before Tax

2,153

2,229

1,810

952

1,574

8,457

4,875

4,995

9,522

14,232

17,926

Tax %

27.70%

35.55%

33.43%

34.87%

36.91%

34.88%

31.77%

25.99%

32.92%

29.17%

27.47%

Net Profit

1,557

1,436

1,205

620

993

5,507

3,326

3,697

6,387

10,080

13,001

EPS

7.55

6.45

5.41

2.79

4.46

24.73

14.94

16.65

28.77

45.41

—

Dividend Payout %

15.73%

18.62%

22.11%

35.81%

67.07%

16.12%

20.02%

21.02%

17.38%

11.01%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

223

222

47,082

49,212

48,437

45,357

49,916

54,329

58,465

63,725

70,264

76,858

27,638

21,101

20,253

24,096

21,429

22,797

18,614

13,532

14,707

18,479

Trade Payables

4,891

5,524

5,734

3,990

8,800

11,015

9,743

8,909

10,355

20,640

6,802

6,670

6,856

6,393

7,580

10,694

9,878

10,648

13,379

16,141

Total Liabilities

86,635

82,729

81,502

80,058

87,947

99,057

96,922

97,036

1,08,927

1,32,340

34,375

34,355

33,514

33,359

32,382

32,292

32,096

33,181

34,003

38,942

Capital Work in Progress

712

736

947

1,209

1,587

1,573

2,968

3,979

7,598

6,793

29,332

27,025

25,494

24,639

31,731

29,655

29,766

29,735

33,991

33,979

9,268

10,738

11,394

11,225

15,989

20,948

20,186

19,505

22,609

33,716

2,478

3,122

5,234

Cash & Bank

4,335

1,821

1,580

3,280

1,019

6,420

1,789

880

990

1,422

8,613

8,053

8,573

6,346

5,239

8,169

10,117

7,278

6,614

12,254

Total Assets

86,635

82,729

81,502

80,058

87,947

99,057

96,922

97,036

1,08,927

1,32,340

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

5,790

5,103

3,279

1,471

5,358

6,760

5,630

8,112

8,890

8,134

Cash from Investing

-1,241

2,283

-811

-2,244

-3,486

-1,937

-1,433

312

-7,432

-8,776

Cash from Financing

-584

-9,188

-2,657

1,181

-4,306

-869

-6,338

-8,036

-1,401

1,067

4,074

-2,491

-297

1,723

-2,228

2,402

-2,935

388

425

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

34.64

34.66

27.18

28.57

28.03

28.13

27.60

28.13

28.16

29.96

31.41

25.41

24.17

24.49

24.64

24.89

24.07

23.13

21.31

19.78

0.23

8.73

8.58

8.81

8.54

8.70

8.84

9.55

9.56

9.59

Hindalco Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Hindalco Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI