HINDALCO

Hindalco Industries Limited

Aditya Birla's non-ferrous major — aluminium and copper, with Novelis in flat-rolled products

Commodities›Metals & Mining›Non - Ferrous Metals›Aluminium

hindalco.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹908.00
Market cap
2,01,640 Cr
Stock P/E
12.3
P/B
1.48
Dividend yield
0.6%
ROE (FY26)
9.8%
ROCE (FY26)
9.4%
Operating margin (FY26)
9.5%
Debt / equity (FY26)
0.71
OCF / EBITDA (FY26)
29.4%
OCF / EBITDA (3Y)
64.8%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Hindalco (Hindalco Industries) makes aluminium and copper in India, from alumina refining through smelting to rolled and downstream products, and owns Novelis, which makes rolled aluminium products and recycles aluminium in North America, Europe, Asia and South America.

Company snapshot

1stBy market cap

Ranked among 7 companies in Aluminium.

Segment mix

Reportable segments as of 2024-09-30 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 61.5% of revenue

SegmentRevenue shareRevenuePBTAssets
Aluminium downstream
5.2%
6,029 Cr264 Cr—
Aluminium upstream
15.6%
17,964 Cr7,202 Cr—
Copper
22.9%
26,406 Cr1,634 Cr—
Novelis
61.5%
70,904 Cr8,042 Cr—

Shares add up to 105% because segment revenues are before inter-segment eliminations.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales54,169 Cr52,808 Cr55,994 Cr57,013 Cr58,203 Cr58,390 Cr64,890 Cr64,232 Cr66,058 Cr66,521 Cr78,133 Cr84,825 Cr
Operating expenses (approx.)48,557 Cr46,943 Cr49,313 Cr49,510 Cr50,320 Cr50,807 Cr56,054 Cr56,326 Cr57,092 Cr58,527 Cr68,115 Cr70,893 Cr
EBITDA5,612 Cr5,865 Cr6,681 Cr7,503 Cr7,883 Cr7,583 Cr8,836 Cr7,906 Cr8,966 Cr7,994 Cr10,018 Cr13,932 Cr
OPM %10.4%11.1%11.9%13.2%13.5%13.0%13.6%12.3%13.6%12.0%12.8%16.4%
Other income463 Cr280 Cr362 Cr424 Cr1,075 Cr509 Cr700 Cr602 Cr713 Cr549 Cr1,025 Cr1,057 Cr
Interest1,034 Cr944 Cr888 Cr859 Cr869 Cr817 Cr874 Cr754 Cr803 Cr881 Cr1,042 Cr966 Cr
Depreciation1,843 Cr1,874 Cr2,018 Cr1,892 Cr1,932 Cr1,939 Cr2,118 Cr2,080 Cr2,155 Cr2,220 Cr2,375 Cr2,337 Cr
Profit before tax3,231 Cr3,328 Cr4,136 Cr4,848 Cr5,643 Cr5,296 Cr6,550 Cr5,676 Cr6,540 Cr2,829 Cr3,451 Cr9,393 Cr
Tax %32.0%30.0%23.3%36.6%30.7%29.5%19.3%29.5%27.5%27.6%24.7%25.3%
Net profit2,196 Cr2,331 Cr3,174 Cr3,074 Cr3,909 Cr3,735 Cr5,284 Cr4,004 Cr4,741 Cr2,049 Cr2,597 Cr7,013 Cr
EPS (₹)₹9.88₹10.50₹14.29₹13.84₹17.59₹16.82₹23.80₹18.03₹21.35₹9.23₹11.70₹31.58

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,02,631 Cr1,15,809 Cr1,30,542 Cr1,18,144 Cr1,31,985 Cr1,95,059 Cr2,23,202 Cr2,15,962 Cr2,38,496 Cr2,74,944 CrSign in free for the trailing twelve months
Operating expenses (approx.)90,195 Cr1,01,988 Cr1,15,032 Cr1,03,838 Cr1,14,449 Cr1,66,712 Cr2,00,536 Cr1,92,090 Cr2,06,691 Cr2,40,060 CrSign in free for the trailing twelve months
EBITDA12,436 Cr13,820 Cr15,511 Cr14,306 Cr17,536 Cr28,347 Cr22,666 Cr23,872 Cr31,805 Cr34,884 CrSign in free for the trailing twelve months
OPM %12.1%11.9%11.9%12.1%13.3%14.5%10.2%11.1%13.3%12.7%Sign in free for the trailing twelve months
Other income1,111 Cr1,105 Cr1,127 Cr1,186 Cr1,222 Cr1,136 Cr1,257 Cr1,496 Cr2,708 Cr2,889 CrSign in free for the trailing twelve months
Interest5,742 Cr3,911 Cr3,778 Cr4,197 Cr3,738 Cr3,768 Cr3,646 Cr3,858 Cr3,419 Cr3,480 CrSign in free for the trailing twelve months
Depreciation4,457 Cr4,506 Cr4,777 Cr5,091 Cr6,628 Cr6,729 Cr7,086 Cr7,521 Cr7,881 Cr8,830 CrSign in free for the trailing twelve months
Profit before tax3,315 Cr8,157 Cr8,083 Cr5,924 Cr5,839 Cr19,110 Cr13,241 Cr14,012 Cr22,337 Cr18,496 CrSign in free for the trailing twelve months
Tax %43.2%25.4%32.0%36.4%40.3%28.2%23.7%27.5%28.4%27.6%Sign in free for the trailing twelve months
Net profit1,882 Cr6,083 Cr5,495 Cr3,767 Cr3,483 Cr13,730 Cr10,097 Cr10,155 Cr16,002 Cr13,391 CrSign in free for the trailing twelve months
EPS (₹)₹9.22₹27.30₹24.67₹16.94₹15.66₹61.73₹45.42₹45.71₹72.05₹60.31Sign in free for the trailing twelve months
Dividend payout %————6.4%4.9%0.0%6.6%4.9%8.3%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital223 Cr223 Cr222 Cr222 Cr222 Cr222 Cr222 Cr222 Cr222 Cr222 Cr
Reserves45,836 Cr54,629 Cr57,279 Cr58,095 Cr66,311 Cr77,969 Cr94,584 Cr1,05,924 Cr1,23,487 Cr1,36,361 Cr
Borrowings58,451 Cr51,272 Cr52,257 Cr67,096 Cr65,978 Cr63,235 Cr58,335 Cr54,501 Cr61,931 Cr96,659 Cr
Other liabilities42,478 Cr41,524 Cr42,863 Cr44,105 Cr57,225 Cr81,625 Cr71,665 Cr71,249 Cr80,339 Cr1,14,541 Cr
Total liabilities1,46,994 Cr1,47,657 Cr1,52,632 Cr1,69,528 Cr1,89,746 Cr2,23,062 Cr2,24,817 Cr2,31,907 Cr2,65,991 Cr3,47,795 Cr
Fixed assets (net)63,951 Cr63,887 Cr64,185 Cr66,067 Cr70,849 Cr76,470 Cr78,530 Cr79,698 Cr84,237 Cr94,217 Cr
CWIP1,741 Cr1,983 Cr3,975 Cr7,610 Cr10,013 Cr4,727 Cr7,340 Cr14,643 Cr27,023 Cr47,569 Cr
Investments15,157 Cr10,781 Cr9,035 Cr9,433 Cr17,133 Cr14,140 Cr14,136 Cr15,490 Cr24,203 Cr25,019 Cr
Loans & advances——58 Cr55 Cr—7 Cr8 Cr32 Cr7 Cr8 Cr
Inventories18,291 Cr21,631 Cr22,194 Cr22,384 Cr30,668 Cr44,483 Cr42,958 Cr40,812 Cr48,801 Cr75,517 Cr
Trade receivables8,275 Cr9,960 Cr11,460 Cr9,345 Cr12,959 Cr21,076 Cr16,214 Cr16,404 Cr19,834 Cr27,222 Cr
Cash & bank8,233 Cr8,045 Cr9,119 Cr21,303 Cr8,339 Cr11,639 Cr12,840 Cr11,816 Cr9,808 Cr14,350 Cr
Other assets31,345 Cr31,370 Cr32,607 Cr33,331 Cr39,785 Cr50,520 Cr52,791 Cr53,012 Cr52,078 Cr63,893 Cr
Total assets1,46,994 Cr1,47,657 Cr1,52,632 Cr1,69,528 Cr1,89,746 Cr2,23,062 Cr2,24,817 Cr2,31,907 Cr2,65,991 Cr3,47,795 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity12,687 Cr10,888 Cr11,980 Cr12,665 Cr17,232 Cr16,838 Cr19,208 Cr24,056 Cr24,410 Cr10,250 Cr
Cash from investing-2,789 Cr5,026 Cr-5,652 Cr-8,301 Cr-25,637 Cr-7,074 Cr-8,121 Cr-14,276 Cr-24,739 Cr-26,583 Cr
Cash from financing-5,552 Cr-16,412 Cr-5,461 Cr6,610 Cr-4,882 Cr-6,765 Cr-10,345 Cr-10,817 Cr-1,816 Cr20,087 Cr
Net cash flow4,347 Cr-499 Cr867 Cr10,974 Cr-12,930 Cr3,300 Cr1,199 Cr-1,028 Cr-2,015 Cr4,554 Cr
Free cash flow (OCF − Capex)9,750 Cr7,887 Cr5,974 Cr5,874 Cr11,667 Cr11,412 Cr9,366 Cr8,328 Cr3,761 Cr-19,846 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %8.7%11.4%10.8%8.1%7.2%16.2%11.0%11.1%13.9%9.4%
ROE %4.1%11.1%9.6%6.5%5.2%17.6%10.6%9.6%12.9%9.8%
Debtor days29313229363926283036
Inventory days114111103120144129115114122145
Days payable10910597981321209696101118
Cash conversion cycle35383951474845455163
OCF / EBITDA %102.0%78.8%77.2%88.5%98.3%59.4%84.7%100.8%76.7%29.4%
OCF / EBITDA % (3 years)——85.1%81.4%88.4%77.6%77.7%80.3%86.4%64.8%
Debt / equity1.270.930.911.150.990.810.620.510.500.71
Current ratio1.311.541.601.781.391.281.481.391.561.21
Net debt / EBITDA4.04—2.783.20—1.822.011.791.642.36