# HINDALCO (HINDALCO) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/hindalco

## Current market snapshot

- Exchange: BSE
- Country: India
- Price: ₹902.25
- Change: +2.24%
- As of: 2026-10-13
- 1D return: +2.24%
- 5D return: -4.07%
- 1M return: -8.07%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-10-13_

### Technical Outlook

As of October 13, 2026, Hindalco's technical setup presents a conflict across timeframes, with a bearish daily and weekly trend structure contrasting with a bullish monthly trend. Daily and weekly charts show the price below key moving averages and the Supertrend, indicating downward pressure in the short to medium term. This is supported by a daily ADX of 27.96, suggesting an established trend, and a weekly ADX of 24.05, indicating developing trend conviction. However, the monthly chart displays the price above its moving averages and Supertrend, with a strong monthly ADX of 62.39, pointing to underlying bullish strength on a longer horizon. The stock is positioned near the lower end of its 20-day and 50-day ranges, at +16.3% and +9.6% respectively, and in the lower-middle of its 252-day range at +35.1%.

The stock exhibits elevated risk with an annualized volatility of +28.2% and a current drawdown of -21.5%. Recent market activity includes 3 positive attention events and 2 downside events in the last 30 days. The immediate risk is to the downside, with support identified at ₹900.07 (0.24% below the current price) and resistance at ₹917.63 (1.70% above). A confirmed break below ₹900.07 could signal further weakness, while a sustained move above ₹917.63 might indicate a potential shift in the daily trend.

- Conflicting technical signals: bearish daily/weekly trend versus bullish monthly trend.
- Daily and weekly trends are established/developing with price below key averages, while the monthly trend is strong and bullish.
- Stock is positioned near the lower end of its short-term trading ranges.
- Nearest support is at ₹900.07 (-0.24%) and resistance is at ₹917.63 (+1.70%).
- A break below ₹900.07 could confirm downside pressure; a move above ₹917.63 may signal a trend shift.

- Bearish Engulfing Reversal
- Outside Bar
- Inside Bar

### News Context

On October 12, 2026, shares of Hindalco Industries Ltd. experienced a notable increase, jumping up to 3%, alongside other metal and mining stocks such as SAIL, Hindustan Zinc, Jindal Steel, Tata Steel, and Nalco. This upward movement in metal stocks was reportedly linked to a draft steel policy, though specific details of this policy were not provided in the evidence. Separately, an article on October 7, 2026, highlighted four electric vehicle (EV) battery stocks with strong future roadmaps, but Hindalco was not explicitly mentioned in this context. A report on October 12, 2026, also indicated a slowdown in the Indian festive e-commerce sales, with a nearly 10% fall attributed to rising smartphone prices, impacting the broader consumer electronics market.

- On October 12, 2026, Hindalco shares rose up to 3%, alongside other metal stocks, reportedly influenced by a draft steel policy.
- An article dated October 7, 2026, identified four EV battery stocks with strong future roadmaps, without specific mention of Hindalco.
- A report on October 12, 2026, noted a nearly 10% decline in Indian e-commerce festive sales due to increased smartphone prices.

- [Festive sale slowdown: Ecommerce sales fall nearly 10% as smartphone prices rise](https://www.businesstoday.in/technology/news/story/festive-sale-slowdown-ecommerce-sales-fall-nearly-10-as-smartphone-prices-rise-560954-2026-10-12)
- [SAIL, HZL, Jindal Steel, Tata Steel, Nalco, Hindalco shares jump up to 3%; top stock pick](https://www.businesstoday.in/markets/stocks/story/sail-hindustan-zinc-jindal-steel-tata-steel-nalco-hindalco-shares-jump-up-to-3-top-stock-pick-560941-2026-10-12)
- [Vedanta, VAML, Tata Steel, NMDC, JSPL, Gravita: Q2 results preview, share price targets](https://www.businesstoday.in/markets/stocks/story/vedanta-vaml-tata-steel-nmdc-jspl-gravita-q2-results-preview-share-price-targets-560352-2026-10-08)
- [Four EV battery stocks with strong future roadmap](https://www.livemint.com/market/stock-market-news/four-ev-battery-stocks-with-strong-future-roadmap-11791283445075.html)

### Official Filings

Hindalco Industries Limited announced on October 1, 2026, the joint termination of the Equity Purchase Agreement with AluChem Companies, Inc. for the acquisition of AluChem's specialty calcined and tabular alumina business. The termination was attributed to extended closure delays beyond the control of either party. Despite this, Hindalco stated that its strategy to expand high-value, technology-led specialty alumina products remains unchanged, and the company will continue to explore opportunities, including in the U.S.

In preparation for its financial reporting, Hindalco announced a board meeting scheduled for November 6, 2026, to approve the unaudited standalone and consolidated financial results for the quarter ending September 30, 2026. Consequently, the trading window for company securities was closed from October 1, 2026, and is set to reopen on November 9, 2026, which is 48 hours after the board meeting. The company also plans to hold an earnings conference call to discuss the results.

- On October 1, 2026, Hindalco Industries and AluChem Companies, Inc. jointly terminated the Equity Purchase Agreement for AluChem's specialty alumina business due to closure delays.
- Hindalco's strategy to scale high-value specialty alumina products remains unchanged.
- A board meeting is scheduled for November 6, 2026, to approve financial results for the quarter ending September 30, 2026.
- The trading window for company securities is closed from October 1, 2026, to November 9, 2026.

- [Newspaper Advertisement of Public Notice regarding Loss of Share Certificates. |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/HINDALCOIND_09102026144420_loss_of_share_certificate_SE_Intimation_signed.pdf)
- [Hindalco Industries Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/HINDALCOIND_07102026144401_Reg_74_5_DP_Reg_September_2026_signed.pdf)
- [Hindalco Industries Limited has informed the Exchange about Update on Acquisition |SUBJECT: Acquisition](https://nsearchives.nseindia.com/corporate/HINDALCOIND_01102026230241_Reg30_Aluchem_update_final_signed.pdf)
- [HINDALCO INDUSTRIES LIMITED has informed the Exchange regarding Update-Acquisition/Scheme/Sale/Disposal-XBRL |SUBJECT: Update-Acquisition (including agreement to acquire)-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_1230_WebXMLFile_20261001_230459718.xml)
- [Hindalco Industries Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 |SUBJECT: Trading Window](https://nsearchives.nseindia.com/corporate/HINDALCOIND_25092026152650_BM_Intimation_signed.pdf)
- [Financial Results |Meeting Date: 06-Nov-2026](https://nsearchives.nseindia.com/corporate/HINDALCOIND_25092026152529_BM_Intimation_signed.pdf)
- [HINDALCO INDUSTRIES LIMITED has informed the Exchange about Closure of Trading Window |SUBJECT: Trading Window-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_1230_WebXMLFile_20260925_153022595.xml)
- [Hindalco Industries Limited has informed the Exchange about Newspaper Advertisement(s) regarding Notice of Special Window for Re-lodgement of TransferRequests of Physical Shares |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/HINDALCOIND_11092026154602_SE_Intimation_Share_Re-lodgement_signed.pdf)
- [Hindalco Industries Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/HINDALCOIND_11092026211459_Investor_Meet_Intimation_signed.pdf)
- [HINDALCO INDUSTRIES LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_1230_WebXMLFile_20260911_212318922.xml)

### Fundamentals

Hindalco reported a sequential increase in revenue from operations, rising to ₹84,825 crore in Q1 FY2026-27 from ₹78,133 crore in Q4 FY2025-26. This top-line growth was accompanied by a significant increase in Profit Before Tax, which grew to ₹9,387 crore from ₹3,455 crore in the prior quarter. Consequently, Net Profit also saw a substantial sequential rise, reaching ₹7,013 crore in Q1 FY2026-27 compared to ₹2,597 crore in Q4 FY2025-26. Finance costs decreased sequentially to ₹966 crore from ₹1,042 crore.

Looking at longer-term trends, the company has demonstrated compounded sales growth of 20% on a Trailing Twelve Months (TTM) basis and compounded profit growth of 20% over the TTM period. Return on Equity has remained consistent at 13% over the last three and five-year periods, and also for the last year. However, forward-looking projections indicate a potential decrease in Net Profit to ₹13,391 crore by March 2026 from ₹16,002 crore in March 2025, despite an anticipated increase in Operating Profit to ₹34,880 crore from ₹31,805 crore over the same period. The company's borrowings have shown a consistent upward trend, increasing from ₹56,356 crore in March 2024 to ₹99,165 crore by March 2026. This is coupled with a rising trend in Capital Work-In-Progress (CWIP) and Fixed Assets, suggesting ongoing capital expenditure.

- Sequential revenue growth to ₹84,825 crore in Q1 FY2026-27.
- Significant sequential increase in Net Profit to ₹7,013 crore in Q1 FY2026-27.
- Borrowings projected to increase to ₹99,165 crore by March 2026.
- Monitor the sustainability of profit margins against projected Net Profit decline in FY2026.

### Bull Case

Hindalco's monthly trend indicators show a bullish signal, with the plus Directional Indicator (DI) at 31.09 and the minus DI at 15.68, suggesting upward momentum over the longer term. The Average Directional Index (ADX) at 62.39 on a monthly basis indicates a strong trend. While daily and weekly trends are currently showing bearish signals, the long-term monthly trend suggests potential for a constructive outlook. The company's market capitalization stands at ₹1,983,177,406,547.5 as of the latest data.

- Monthly trend shows a bullish setup with ADX at 62.39, plus DI at 31.09, and minus DI at 15.68.
- Company market capitalization is ₹1,983,177,406,547.5.
- Nearest support level identified at ₹900.07, which is 0.24% below the current price.
- Nearest resistance level identified at ₹917.63, which is 1.70% above the current price.

- [Festive sale slowdown: Ecommerce sales fall nearly 10% as smartphone prices rise](https://www.businesstoday.in/technology/news/story/festive-sale-slowdown-ecommerce-sales-fall-nearly-10-as-smartphone-prices-rise-560954-2026-10-12)
- [SAIL, HZL, Jindal Steel, Tata Steel, Nalco, Hindalco shares jump up to 3%; top stock pick](https://www.businesstoday.in/markets/stocks/story/sail-hindustan-zinc-jindal-steel-tata-steel-nalco-hindalco-shares-jump-up-to-3-top-stock-pick-560941-2026-10-12)
- [Vedanta, VAML, Tata Steel, NMDC, JSPL, Gravita: Q2 results preview, share price targets](https://www.businesstoday.in/markets/stocks/story/vedanta-vaml-tata-steel-nmdc-jspl-gravita-q2-results-preview-share-price-targets-560352-2026-10-08)
- [Four EV battery stocks with strong future roadmap](https://www.livemint.com/market/stock-market-news/four-ev-battery-stocks-with-strong-future-roadmap-11791283445075.html)
- [Newspaper Advertisement of Public Notice regarding Loss of Share Certificates. |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/HINDALCOIND_09102026144420_loss_of_share_certificate_SE_Intimation_signed.pdf)
- [Hindalco Industries Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/HINDALCOIND_07102026144401_Reg_74_5_DP_Reg_September_2026_signed.pdf)
- [Hindalco Industries Limited has informed the Exchange about Update on Acquisition |SUBJECT: Acquisition](https://nsearchives.nseindia.com/corporate/HINDALCOIND_01102026230241_Reg30_Aluchem_update_final_signed.pdf)
- [HINDALCO INDUSTRIES LIMITED has informed the Exchange regarding Update-Acquisition/Scheme/Sale/Disposal-XBRL |SUBJECT: Update-Acquisition (including agreement to acquire)-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_1230_WebXMLFile_20261001_230459718.xml)
- [Hindalco Industries Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 |SUBJECT: Trading Window](https://nsearchives.nseindia.com/corporate/HINDALCOIND_25092026152650_BM_Intimation_signed.pdf)
- [Financial Results |Meeting Date: 06-Nov-2026](https://nsearchives.nseindia.com/corporate/HINDALCOIND_25092026152529_BM_Intimation_signed.pdf)

### Bear Case

The company's daily and weekly technical trends indicate a bearish outlook, with indicators such as the supertrend direction being 'bearish' on the daily timeframe and the EMA 20 slope at -29.81 on a daily basis. This is further supported by a negative return of -8.1% over the last 1-month and -7.8% over the last 6-months, suggesting a recent downturn in performance. The stock has experienced a current drawdown of -21.5% and a maximum drawdown of -23.2%, highlighting significant volatility and potential downside risk. While the monthly trend shows a 'bullish' supertrend direction, the short-term technical indicators and recent performance metrics suggest caution.

- Daily and weekly technical trends are currently indicating a 'bearish' supertrend direction.
- The stock has experienced a -8.1% return over the last 1-month and -7.8% over the last 6-months.
- Current drawdown stands at -21.5%, with a maximum drawdown recorded at -23.2%.
- Nearest support levels are observed at ₹900.07 (0.24% below current price) and ₹895.92 (0.70% below current price).

- [Festive sale slowdown: Ecommerce sales fall nearly 10% as smartphone prices rise](https://www.businesstoday.in/technology/news/story/festive-sale-slowdown-ecommerce-sales-fall-nearly-10-as-smartphone-prices-rise-560954-2026-10-12)
- [SAIL, HZL, Jindal Steel, Tata Steel, Nalco, Hindalco shares jump up to 3%; top stock pick](https://www.businesstoday.in/markets/stocks/story/sail-hindustan-zinc-jindal-steel-tata-steel-nalco-hindalco-shares-jump-up-to-3-top-stock-pick-560941-2026-10-12)
- [Vedanta, VAML, Tata Steel, NMDC, JSPL, Gravita: Q2 results preview, share price targets](https://www.businesstoday.in/markets/stocks/story/vedanta-vaml-tata-steel-nmdc-jspl-gravita-q2-results-preview-share-price-targets-560352-2026-10-08)
- [Four EV battery stocks with strong future roadmap](https://www.livemint.com/market/stock-market-news/four-ev-battery-stocks-with-strong-future-roadmap-11791283445075.html)
- [Newspaper Advertisement of Public Notice regarding Loss of Share Certificates. |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/HINDALCOIND_09102026144420_loss_of_share_certificate_SE_Intimation_signed.pdf)
- [Hindalco Industries Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/HINDALCOIND_07102026144401_Reg_74_5_DP_Reg_September_2026_signed.pdf)
- [Hindalco Industries Limited has informed the Exchange about Update on Acquisition |SUBJECT: Acquisition](https://nsearchives.nseindia.com/corporate/HINDALCOIND_01102026230241_Reg30_Aluchem_update_final_signed.pdf)
- [HINDALCO INDUSTRIES LIMITED has informed the Exchange regarding Update-Acquisition/Scheme/Sale/Disposal-XBRL |SUBJECT: Update-Acquisition (including agreement to acquire)-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_1230_WebXMLFile_20261001_230459718.xml)
- [Hindalco Industries Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 |SUBJECT: Trading Window](https://nsearchives.nseindia.com/corporate/HINDALCOIND_25092026152650_BM_Intimation_signed.pdf)
- [Financial Results |Meeting Date: 06-Nov-2026](https://nsearchives.nseindia.com/corporate/HINDALCOIND_25092026152529_BM_Intimation_signed.pdf)

### FAQs

**What recent regulatory filings has Hindalco made?**

On October 9, 2026, Hindalco Industries Limited published a public notice regarding the loss of five original equity share certificates. On October 7, 2026, the company submitted a compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended September 30, 2026. Additionally, on September 25, 2026, Hindalco announced a closure of the trading window from October 1, 2026, to November 9, 2026, in preparation for the Board of Directors meeting on November 6, 2026, to approve financial results for the quarter ending September 30, 2026.

**What was the outcome of Hindalco's proposed acquisition of AluChem Companies, Inc.?**

On October 1, 2026, Hindalco Industries Limited and AluChem Companies, Inc. jointly terminated the Equity Purchase Agreement for Hindalco's proposed 100% acquisition of AluChem. The termination was due to extended closure delays beyond either party's control. Hindalco stated its strategy to scale high-value, technology-led value-added products in specialty alumina remains unchanged and it will continue evaluating opportunities. AluChem will continue to serve customers independently.

**What are Hindalco's recent performance trends and technical levels?**

As of October 13, 2026, Hindalco's stock closed at ₹902.25. The daily trend is indicated as 'bearish' with an ADX of 27.96, while the monthly trend is 'bullish' with an ADX of 62.39. Nearest support levels are at ₹900.07 (0.24% below current price) and ₹895.92 (0.70% below current price). Nearest resistance levels are at ₹917.63 (1.70% above current price) and ₹926.42 (2.68% above current price). Over the past year, the stock has returned +17.1%, while year-to-date returns are +0.8%.

- [Festive sale slowdown: Ecommerce sales fall nearly 10% as smartphone prices rise](https://www.businesstoday.in/technology/news/story/festive-sale-slowdown-ecommerce-sales-fall-nearly-10-as-smartphone-prices-rise-560954-2026-10-12)
- [SAIL, HZL, Jindal Steel, Tata Steel, Nalco, Hindalco shares jump up to 3%; top stock pick](https://www.businesstoday.in/markets/stocks/story/sail-hindustan-zinc-jindal-steel-tata-steel-nalco-hindalco-shares-jump-up-to-3-top-stock-pick-560941-2026-10-12)
- [Vedanta, VAML, Tata Steel, NMDC, JSPL, Gravita: Q2 results preview, share price targets](https://www.businesstoday.in/markets/stocks/story/vedanta-vaml-tata-steel-nmdc-jspl-gravita-q2-results-preview-share-price-targets-560352-2026-10-08)
- [Four EV battery stocks with strong future roadmap](https://www.livemint.com/market/stock-market-news/four-ev-battery-stocks-with-strong-future-roadmap-11791283445075.html)
- [Newspaper Advertisement of Public Notice regarding Loss of Share Certificates. |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/HINDALCOIND_09102026144420_loss_of_share_certificate_SE_Intimation_signed.pdf)
- [Hindalco Industries Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/HINDALCOIND_07102026144401_Reg_74_5_DP_Reg_September_2026_signed.pdf)
- [Hindalco Industries Limited has informed the Exchange about Update on Acquisition |SUBJECT: Acquisition](https://nsearchives.nseindia.com/corporate/HINDALCOIND_01102026230241_Reg30_Aluchem_update_final_signed.pdf)
- [HINDALCO INDUSTRIES LIMITED has informed the Exchange regarding Update-Acquisition/Scheme/Sale/Disposal-XBRL |SUBJECT: Update-Acquisition (including agreement to acquire)-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_1230_WebXMLFile_20261001_230459718.xml)
- [Hindalco Industries Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 |SUBJECT: Trading Window](https://nsearchives.nseindia.com/corporate/HINDALCOIND_25092026152650_BM_Intimation_signed.pdf)
- [Financial Results |Meeting Date: 06-Nov-2026](https://nsearchives.nseindia.com/corporate/HINDALCOIND_25092026152529_BM_Intimation_signed.pdf)
## Technical analytics

- As of: 2026-10-13
- Daily trend: Moderate Downtrend
- Weekly trend: Weak Downtrend
- Pivot point: ₹891.28
- Risk regime: Price Risk Requires Attention

### Support levels
- 895.925
- 881
- 734.1

### Resistance levels
- 946.9
- 965.3902343750001
- 1000.95

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +2.24% |
| return_10 | -5.61% |
| return_1m | -8.07% |
| return_1y | +17.14% |
| return_20 | -8.07% |
| return_3m | -6.68% |
| return_5 | -4.07% |
| return_6m | -7.77% |
| return_since_start | +52.16% |
| return_ytd | +0.82% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | elevated_risk |
| label | Price risk requires attention |
| summary | Recent drawdown or price variability is high enough to warrant closer monitoring. |
| maximum_drawdown | -23.24% |
| annualized_volatility | +28.16% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Sharp Profit Rebound as Revenue Growth Outpaces Expense Growth

Hindalco reported a sharp increase in profit for the quarter ended June 2026. Revenue rose 8.6% from the previous quarter while expenses grew only 3.7%, widening the gap between the two and supporting a 171.7% jump in pre-tax profit. On a year-over-year basis, revenue grew 32.1% and pre-tax profit rose 65.4%, with the latest quarter’s revenue and profit reaching their highest levels in the five‑quarter record.

## Revenue and Expenses

Revenue for the quarter stood at ₹84,825 crore, up from ₹78,133 crore in the immediately preceding quarter (Q4 FY2025‑26) and from ₹64,232 crore in the same quarter a year ago. The sequential increase of ₹6,692 crore (8.6%) was the second largest in the five‑quarter period, after the ₹11,612 crore rise in the previous quarter. Year‑over‑year, revenue grew 32.1%.

Expenses amounted to ₹74,196 crore, compared with ₹71,532 crore in Q4 FY2025‑26 and ₹59,160 crore in Q1 FY2025‑26. The sequential increase of ₹2,664 crore (3.7%) was notably smaller than the revenue increase, while the year‑over‑year rise of 25.4% also trailed the revenue growth rate.

The gap between revenue and expenses widened from ₹6,601 crore in Q4 to ₹10,629 crore in the current quarter. This widening gap contributed to the sharp improvement in profitability.

## Profitability

Profit Before Tax (PBT) jumped to ₹9,387 crore from ₹3,455 crore in Q4 FY2025‑26, a sequential increase of ₹5,932 crore (171.7%). Compared with the same quarter last year (₹5,674 crore), PBT rose 65.4%. Net profit (Profit Loss For Period) followed a similar pattern, reaching ₹7,013 crore, up from ₹2,597 crore sequentially (170.0%) and from ₹4,004 crore a year ago (75.2%).

The PBT margin (PBT as a percentage of revenue) rose from 4.4% in Q4 to 11.1% in the current quarter, while the net profit margin increased from 3.3% to 8.3%. Revenue growing faster than expenses was a key factor in the margin expansion.

Earnings per share moved in line with net profit. Basic EPS increased to ₹31.58 from ₹11.70 in the prior quarter and from ₹18.03 a year ago. Diluted EPS was ₹31.51, compared with ₹11.67 and ₹18.00, respectively.

## Finance Costs and Tax

Finance costs were ₹966 crore, a decline of ₹76 crore (7.3%) from the ₹1,042 crore recorded in Q4 FY2025‑26. The sequential decline supported the growth in profit before tax. On a year‑over‑year basis, finance costs rose from ₹754 crore (28.1%).

Tax expense increased from ₹854 crore to ₹2,380 crore sequentially, reflecting the higher pre‑tax profit. The effective tax rate (tax expense as a percentage of PBT) was 25.4% in the current quarter, compared with 24.7% in Q4 and 29.5% in Q1 FY2025‑26. The lower tax rate relative to the year‑ago quarter further boosted net profit growth.

## Segment Performance

Segment revenue matched total revenue at ₹84,825 crore, and segment profit before tax was ₹9,393 crore, nearly identical to the consolidated PBT of ₹9,387 crore. The small difference indicates that unallocated items had a negligible impact on reported profitability.

## Management Commentary

Hindalco delivered record Q1 FY27 results with consolidated revenue up 32% YoY to ₹84,825 crore and EBITDA up 73% to ₹14,989 crore, driven by all-time high EBITDA across Aluminium Upstream (₹7,390 crore, +81%), Copper (₹918 crore, +36%), and Novelis (₹4,875 crore, +37%). Management attributed the performance to favorable macro tailwinds, resource security, premium product innovation, and operational excellence. MD Satish Pai stated, "Our pipeline of strategic investments remains robust across upstream and downstream... projects such as Aditya FRP, battery foil, battery enclosure, Inner Grooved Tube are progressing well while the ramp of Novelis’ Oswego plant and Bay Minette plant will mark another milestone."

Looking ahead, Novelis’ Bay Minette commissioning is underway with commercial shipments expected in Q1 FY28, and the long-term $600+/ton EBITDA guidance remains intact. Novelis targets $350-400 million in run-rate cost savings by FY28 exit. Hindalco announced a ₹768 crore capacity expansion at its Kuppam unit (10 KTPA addition, FY29) funded by internal accruals and debt. The proposed acquisition of AluChem Companies, Inc. is under CFIUS review, with finality anticipated by September 2, 2026. Net debt to EBITDA rose to 1.95x from 1.02x a year ago, reflecting increased capital spending and working capital.

## Key Takeaway

The quarter ended June 2026 delivered a strong rebound in profitability. Revenue grew at a faster pace than expenses both sequentially and year‑over‑year, leading to a significant expansion of profit margins. Finance costs declined from the preceding quarter, and the effective tax rate was lower than a year ago, further supporting net profit. The quarter’s revenue and profit before tax were the highest in the five‑quarter series.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +34.66%
- FII holding: +31.41%
- DII holding: +19.82%
- Mutual fund holding: +10.05%
- Retail holding: +5.00%
- Promoter pledged: +0.00%

### Major reported shareholders

- Igh Holdings Private Limited — +15.58% (Bodies Corporate)
- Birla Group Holdings Private Limited — +11.38% (Bodies Corporate)
- Life Insurance Corporation Of India — +4.59%
- Morgan Guaranty Trust Company Of New York, Asdepositary — +4.18%
- Grasim Industries Ltd — +3.92% (Bodies Corporate)
- Government Of Singapore — +2.65%
- Nps Trust- A/C Sbi Pension Fund Scheme - State Govt — +2.52%
- Sbi Nifty 50 Etf — +2.29%
- Icici Prudential Large & Mid Cap Fund — +1.35%
- Pilani Investment And Industries — +1.33% (Bodies Corporate)

## Official filings

- 2026-10-09 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HINDALCOIND_09102026144420_loss_of_share_certificate_SE_Intimation_signed.pdf)
- 2026-10-07 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HINDALCOIND_07102026144401_Reg_74_5_DP_Reg_September_2026_signed.pdf)
- 2026-10-01 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HINDALCOIND_01102026230241_Reg30_Aluchem_update_final_signed.pdf)
- 2026-10-01 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_1230_WebXMLFile_20261001_230459718.xml)
- 2026-09-25 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HINDALCOIND_25092026152650_BM_Intimation_signed.pdf)
- 2026-09-25 — Board Meeting Notice: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HINDALCOIND_25092026152529_BM_Intimation_signed.pdf)
- 2026-09-25 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_1230_WebXMLFile_20260925_153022595.xml)
- 2026-09-11 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HINDALCOIND_11092026154602_SE_Intimation_Share_Re-lodgement_signed.pdf)
- 2026-09-11 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HINDALCOIND_11092026211459_Investor_Meet_Intimation_signed.pdf)
- 2026-09-11 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_1230_WebXMLFile_20260911_212318922.xml)
- 2026-09-08 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_1230_WebXMLFile_20260908_113235975.xml)
- 2026-09-08 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HINDALCOIND_08092026112715_Investor_Meet_Intimation_signed.pdf)
- 2026-09-04 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_1230_WebXMLFile_20260905_011428864.xml)
- 2026-09-04 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HINDALCOIND_05092026010858_Investor_Meet_Intimation_signed.pdf)
- 2026-08-27 — Press Release: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HINDALCOIND_27082026093827_press_release_intimation_merged_signed.pdf)
- 2026-08-21 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HINDALCOIND_21082026181639_Reg30_Incorporation_of_Company_signed.pdf)
- 2026-08-21 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_1230_WebXMLFile_20260821_182049008.xml)
- 2026-08-19 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HINDALCOIND_19082026145113_loss_of_share_certificate_merged_signed.pdf)
- 2026-08-13 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HINDALCOIND_13082026112508_Q1FY27_Transcript_signed.pdf)
- 2026-08-13 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_1230_WebXMLFile_20260813_112316013.xml)
- 2026-08-11 — Earnings Presentation: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HINDALCOIND_11082026105116_Investor_Meet_Intimation_signed.pdf)
- 2026-08-11 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HINDALCOIND_11082026111646_loss_of_share_certificate_SE_Intimation_merged_signed.pdf)
- 2026-08-11 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_1230_WebXMLFile_20260811_104150660.xml)
- 2026-08-08 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/HINDALCOIND_08082026110947_PostBM_08082026_signed.pdf)
- 2026-08-07 — Generic Announcement: Hindalco Industries Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_1230_WebXMLFile_20260807_170653222.xml)

## News and market events

- 2026-10-12 — BUSINESSTODAY: **Festive sale slowdown: Ecommerce sales fall nearly 10% as smartphone prices rise** — Amazon festive sales, Flipkart festive sales, festive sale, festive sale slowdown, India festive sale, electronics deals India, smartphone prices India, quick-commerce demand, premium smartphone sales, Indian festive market — [Source](https://www.businesstoday.in/technology/news/story/festive-sale-slowdown-ecommerce-sales-fall-nearly-10-as-smartphone-prices-rise-560954-2026-10-12)
- 2026-10-12 — BUSINESSTODAY: **SAIL, HZL, Jindal Steel, Tata Steel, Nalco, Hindalco shares jump up to 3%; top stock pick** — SAIL share price, HZL share price, Hindustan Zinc share price, Jindal Steel share price, Tata Steel share price, JSW Steel share price, metal stocks, draft steel policy — [Source](https://www.businesstoday.in/markets/stocks/story/sail-hindustan-zinc-jindal-steel-tata-steel-nalco-hindalco-shares-jump-up-to-3-top-stock-pick-560941-2026-10-12)
- 2026-10-08 — BUSINESSTODAY: **Vedanta, VAML, Tata Steel, NMDC, JSPL, Gravita: Q2 results preview, share price targets** — Vedata share price target, VAML share price target, Tata Steel share price target, Q2 results preview — [Source](https://www.businesstoday.in/markets/stocks/story/vedanta-vaml-tata-steel-nmdc-jspl-gravita-q2-results-preview-share-price-targets-560352-2026-10-08)
- 2026-10-07 — Mint: **Four EV battery stocks with strong future roadmap** — These four EV battery stocks stand out for their strong growth roadmap and ambitious plans linked to the EV battery space. — [Source](https://www.livemint.com/market/stock-market-news/four-ev-battery-stocks-with-strong-future-roadmap-11791283445075.html)
- 2026-09-30 — CNBC-TV18: **Market Close Explained: Why Nifty ended lower despite gains in banking stocks** — The Nifty Bank was the relative outperformer, rising 373 points to 54,633, while the Nifty Midcap index gained 13 points to 59,332. — [Source](https://www.cnbctv18.com/market/market-close-explained-why-nifty-ended-lower-despite-gains-in-banking-stocks-20002098.htm)
- 2026-09-28 — Mint: **Explained: Vedanta, Hindustan Zinc, Hindalco to Nalco - Why metal stocks are falling today** — Nalco share price emerged as the biggest laggard, as the stock fell as much as 3.89% to ₹344.65 per share. Meanwhile, Vedanta and Hindalco shares fell over 3% during the intraday session. — [Source](https://www.livemint.com/market/stock-market-news/explained-vedanta-hindustan-zinc-hindalco-to-nalco-why-metal-stocks-are-falling-today-11790571061144.html)
- 2026-09-26 — The Hindu: **Centre orders captive coal power plants to maximise power output on surging demand** — Centre orders over 100 captive coal plants to run at full capacity through year-end to meet surging demand, directing surplus power sales. — [Source](https://www.thehindu.com/business/Industry/centre-orders-captive-coal-power-plants-to-maximise-power-output-on-surging-demand/article71514005.ece)
- 2026-09-26 — MONEYCONTROL: **India orders 112 captive coal plants to run at full capacity from October 1 as power demand rises** — India power demand, captive coal power plants, India coal power plants, power ministry India, electricity demand India 2026, Section 11 Electricity Act, Vedanta captive power plant, Tata Steel power plant, Hindalco captive power plant, Tata Power Mundra — [Source](https://www.moneycontrol.com/news/business/india-orders-112-captive-coal-plants-to-run-at-full-capacity-from-october-1-as-power-demand-rises-14038789.html)
- 2026-09-26 — Economic Times: **India orders captive coal plants to maximise power output on surging demand** — India has ordered more than 100 coal-fired power plants to operate at full capacity starting October 1, which is intended to meet rising electricity demand. The federal power ministry's directive covers plants with installed capacities of at least 50 megawatts. Nearly 40% of coal-fired plants have low fuel stocks amid increasing power needs due to El Nino. — [Source](https://economictimes.indiatimes.com/industry/indl-goods/svs/metals-mining/india-orders-captive-coal-plants-to-maximise-power-output-on-surging-demand/articleshow/134499147.cms)
- 2026-09-26 — The Hindu: **Govt orders captive coal plants to maximise power output on surging demand** — India orders 100+ captive coal plants to run at full capacity through year-end to meet rising demand under emergency provisions. — [Source](https://www.thehindubusinessline.com/news/govt-orders-captive-coal-plants-to-maximise-power-output-on-surging-demand/article71511962.ece)
- 2026-09-25 — CNBC-TV18: **What will it take for Indian companies to become global champions? 6 CEOs explain** — India's next generation of global companies will need to look beyond manufacturing scale and exports. Leaders from aviation, metals, telecom, pharma, power transmission and chemicals explain what it takes to compete globally — from investing in technology and developing intellectual property to managing multinational operations, strengthening supply chains and moving from commodity products towards higher-value solutions. — [Source](https://www.cnbctv18.com/business/what-will-it-take-for-indian-companies-to-become-global-champions-6-ceos-explain-19998924.htm)
- 2026-09-24 — BUSINESS: **Nifty below 23,250; metal shares lose sheen** — At 11:30 IST, the barometer index, the S&P BSE Sensex, tanked 687.83 points or 0.92% to 74,155.56. The Nifty 50 index lost 231.90 points or 0.99% to 23,215.20. — [Source](https://www.business-standard.com/markets/capital-market-news/nifty-below-23-250-metal-shares-lose-sheen-126092400395_1.html)
- 2026-09-24 — MONEYCONTROL: **Indian copper producers seek tax cut to navigate record rally** — copper, copper price, copper tax cut, copper record rally, GST on copper, metal prices — [Source](https://www.moneycontrol.com/news/business/indian-copper-producers-seek-tax-cut-to-navigate-record-rally-14036796.html)
- 2026-09-23 — CNBC-TV18: **DGTR recommends 5-year extension of anti-dumping duty on aluminium foil imports** — The proposed duty on aluminium foil of 80 micron and below ranges from $93.53 per tonne to $976.99 per tonne. The Finance Ministry will take the final decision on the recommendation. — [Source](https://www.cnbctv18.com/economy/dgtr-recommends-5-year-extension-of-anti-dumping-duty-on-aluminium-foil-imports-19997034.htm)
- 2026-09-23 — CNBC-TV18: **Foreign investors buy ₹1,617 crore of Indian shares after a day of heavy selling** — Foreign investors bought ₹1,617 crore of Indian shares on Wednesday after heavy selling a day earlier, while domestic institutions added another ₹2,341 crore. — [Source](https://www.cnbctv18.com/market/foreign-investors-buy-rs1617-crore-of-indian-shares-after-a-day-of-heavy-selling-19996931.htm)
- 2026-09-23 — BUSINESS: **Quick Wrap: Nifty Metal Index gains 2.40%** — Powered by Capital Market - Live News — [Source](https://www.business-standard.com/markets/capital-market-news/quick-wrap-nifty-metal-index-gains-2-40-126092300907_1.html)
- 2026-09-23 — BUSINESS: **Sensex gains 241 pts; metal shares in demand** — At 10:30 IST, the barometer index, the S&P BSE Sensex, jumped 240.85 points or 0.32% to 74,769.93. The Nifty 50 index rose 71.15 points or 0.31% to 23,402.85. — [Source](https://www.business-standard.com/markets/capital-market-news/sensex-gains-241-pts-metal-shares-in-demand-126092300312_1.html)
- 2026-09-18 — Orissa POST: **SEMICON India 2026: 25 announcements, collaborations unveiled Day 2 - OrissaPOST** — New Delhi: Day 2 of SEMICON India 2026 witnessed 25 key announcements and collaborations covering various segments of the semiconductor value chain, including semiconductor manufacturing, materials, logistics, chip design, advanced packaging, power electronics and workforce development, according to a statement issued by the Ministry of Electronics and IT Friday. India’s Tata Electronics and L&T Semiconductor […] — [Source](https://www.orissapost.com/semicon-india-2026-25-announcements-collaborations-unveiled-day-2)
- 2026-09-16 — The Hindu: **Aditya Birla Group seeks approval for aircraft leasing in GIFT City** — Aditya Birla Group’s UHG Holdings IFSC has sought regulatory approval to undertake aircraft leasing activities under the IFSCA framework in GIFT City. — [Source](https://www.thehindubusinessline.com/money-and-banking/aditya-birla-group-entity-seeks-gift-city-nod-to-enter-aircraft-leasing/article71472423.ece)
- 2026-09-15 — The Hindu: **Metalshub, Hindalco launch digital bidding process for spot alumina sales** — Hindalco and Metalshub launch a digital bidding process for competitive spot alumina sales, enhancing market transparency and liquidity. — [Source](https://www.thehindubusinessline.com/companies/metalshub-hindalco-launch-digital-bidding-process-for-spot-alumina-sales/article71467630.ece)
- 2026-09-14 — Economic Times: **From Uzbekistan to Canada: A look at India’s global uranium hunt** — India is accelerating its nuclear power expansion to reach 100 GW by 2047. This ambitious goal necessitates securing substantial uranium supplies from global sources. New agreements with Uzbekistan, Australia, and Canada are diversifying fuel procurement strategies. Domestic policy changes now permit private companies to enter nuclear power generation. This dual approach aims to ensure fuel availability for future reactor capacity. — [Source](https://economictimes.indiatimes.com/industry/renewables/from-uzbekistan-to-canada-a-look-at-indias-global-uranium-hunt/articleshow/134235729.cms)
- 2026-09-13 — Times of India: **The Uranium rush: Inside India's scramble to fuel its nuclear ambitions** — India News: Last month, when Prime Minister Narendra Modi arrived in Tashkent, the headline takeaway was diplomatic. India and Uzbekistan agreed to elevate their . — [Source](https://timesofindia.indiatimes.com/india/the-uranium-rush-inside-indias-scramble-to-fuel-its-nuclear-ambitions/articleshow/134206216.cms)
- 2026-09-11 — BUSINESS: **Nifty below 23,350; metal shares under pressure** — At 11:30 IST, the barometer index, the S&P BSE Sensex, tanked 385.82 points or 0.52% to 74,518.60. The Nifty 50 index lost 135.50 points or 0.58% to 23,342.30. — [Source](https://www.business-standard.com/markets/capital-market-news/nifty-below-23-350-metal-shares-under-pressure-126091100434_1.html)
- 2026-09-11 — BUSINESSTODAY: **Vedanta, Tata Steel, Nalco, other metal stocks fall as Nifty Metal slips 2%; what's weighing?** — Vedanta, Tata Steel, Nalco, Hindalco, Hindustan Zinc, Hindustan Copper, Nifty Metal, metal stocks, crude oil prices, Brent crude, US bond yields, US dollar, metal shares, stock market today, India stock market — [Source](https://www.businesstoday.in/markets/stocks/story/vedanta-tata-steel-nalco-other-metal-stocks-fall-as-nifty-metal-slips-2-whats-weighing-554778-2026-09-11)
- 2026-09-11 — BUSINESS: **National Aluminium Company Ltd Falls 4.07%, BSE Metal index Drops 2.76%** — National Aluminium Company Ltd has lost 14.86% over last one month compared to 2.55% fall in BSE Metal index and 4.69% drop in the SENSEX — [Source](https://www.business-standard.com/markets/capital-market-news/national-aluminium-company-ltd-falls-4-07-bse-metal-index-drops-2-76-126091100213_1.html)

## Business profile

**Strategic vision:** Indian metals company manufacturing aluminum and copper.

### Business segments
- **Aluminium Segment:** Produces primary metal ingots, billets, and wire rods, and recycles aluminum into sheets, coils, and foils for packaging and transportation.
- **Copper Segment:** Refines imported concentrate to produce copper cathodes, continuous cast rods, gold, silver, and phosphoric acid.

### Competitive strengths
- Vertically integrated business model
- Captive bauxite mines and alumina refineries
- Integrated aluminum smelters with captive power plants
- Wholly owned downstream subsidiary for recycling and flat-rolled products
- Custom copper smelter integrated with captive marine jetty and by-product recovery

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- [JSW Steel Limited (Metals)](https://faxioms.com/stocks/jswsteel) — +0.31%
- [Tata Steel Limited (Metals)](https://faxioms.com/stocks/tatasteel) — +1.60%
- [Hindustan Zinc Limited (Metals)](https://faxioms.com/stocks/hindzinc) — +0.49%
- [JINDAL STEEL LIMITED (Metals)](https://faxioms.com/stocks/jindalstel) — +1.90%

## Freshness and sources

- Data as of: 2026-10-13
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/hindalco
Markdown representation: https://faxioms.com/stocks/hindalco?render=md