Hindalco Industries Ltd
Incorporated in 1958, Hindalco Industries Ltd. is a flagship company of the Aditya Birla Group. The Co and its subsidiaries are primarily engaged in the production of Aluminium and Copper. It is also
engaged in the manufacturing of aluminium sheet, extrusion and light gauge products for use in packaging markets like beverage and food, can and foil products, etc. [1]
- Market Cap ₹ 1,91,486 Cr.
- Current Price ₹ 852
- High / Low ₹ 864 / 546
- Stock P/E 26.8
- Book Value ₹ 326
- Dividend Yield 0.59 %
- ROCE 12.9 %
- ROE 8.98 %
- Face Value ₹ 1.00
Pros
- Company has been maintaining a healthy dividend payout of 19.5%
Cons
- Stock is trading at 2.61 times its book value
- Company has a low return on equity of 7.06% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Commodities Metals & Mining Non - Ferrous Metals Aluminium
Part of Nifty 50 BSE 500 BSE 100 BSE 200 BSE Dollex 200
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 27,851 | 34,525 | 34,271 | 36,937 | 42,809 | 45,749 | 40,242 | 42,701 | 67,653 | 76,878 | 83,009 | 93,309 | 97,936 | |
| 25,372 | 31,103 | 30,916 | 32,125 | 37,685 | 41,503 | 36,578 | 38,607 | 56,455 | 69,456 | 75,509 | 82,148 | 85,395 | |
| Operating Profit | 2,479 | 3,423 | 3,355 | 4,812 | 5,124 | 4,246 | 3,664 | 4,094 | 11,198 | 7,422 | 7,500 | 11,161 | 12,541 |
| OPM % | 9% | 10% | 10% | 13% | 12% | 9% | 9% | 10% | 17% | 10% | 9% | 12% | 13% |
| 741 | 299 | 968 | 1,092 | 623 | 940 | 675 | 657 | 428 | 627 | 724 | 1,329 | 912 | |
| Interest | 712 | 1,637 | 2,390 | 2,323 | 1,901 | 1,683 | 1,679 | 1,469 | 1,417 | 1,300 | 1,268 | 939 | 820 |
| Depreciation | 823 | 837 | 1,282 | 1,428 | 1,617 | 1,693 | 1,708 | 1,708 | 1,752 | 1,874 | 1,961 | 2,029 | 2,144 |
| Profit before tax | 1,685 | 1,247 | 651 | 2,153 | 2,229 | 1,810 | 952 | 1,574 | 8,457 | 4,875 | 4,995 | 9,522 | 10,489 |
| Tax % | 16% | 26% | 15% | 28% | 36% | 33% | 35% | 37% | 35% | 32% | 26% | 33% | |
| 1,413 | 925 | 552 | 1,557 | 1,436 | 1,205 | 620 | 993 | 5,507 | 3,326 | 3,697 | 6,387 | 7,152 | |
| EPS in Rs | 6.85 | 4.48 | 2.67 | 6.94 | 6.40 | 5.37 | 2.76 | 4.42 | 24.51 | 14.80 | 16.45 | 28.42 | 31.83 |
| Dividend Payout % | 15% | 22% | 37% | 16% | 19% | 22% | 36% | 67% | 16% | 20% | 21% | 17% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 18% |
| 3 Years: | 11% |
| TTM: | 13% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | 58% |
| 3 Years: | 2% |
| TTM: | 27% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 27% |
| 5 Years: | 28% |
| 3 Years: | 22% |
| 1 Year: | 29% |
| Return on Equity | |
|---|---|
| 10 Years: | 5% |
| 5 Years: | 7% |
| 3 Years: | 7% |
| Last Year: | 9% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 206 | 207 | 207 | 223 | 223 | 222 | 222 | 222 | 222 | 222 | 222 | 222 | 222 |
| Reserves | 36,526 | 37,049 | 41,955 | 47,110 | 49,228 | 48,336 | 45,272 | 49,842 | 54,206 | 58,267 | 63,485 | 69,984 | 73,054 |
| 27,020 | 29,007 | 28,676 | 27,150 | 20,297 | 19,534 | 23,367 | 20,240 | 19,421 | 13,071 | 8,376 | 11,903 | 12,841 | |
| 10,018 | 9,739 | 9,604 | 12,153 | 12,981 | 13,410 | 11,197 | 17,643 | 25,208 | 25,362 | 24,953 | 26,818 | 32,546 | |
| Total Liabilities | 73,770 | 76,001 | 80,442 | 86,635 | 82,729 | 81,502 | 80,058 | 87,947 | 99,057 | 96,922 | 97,036 | 108,927 | 118,663 |
| 18,055 | 26,060 | 32,243 | 34,384 | 34,364 | 33,523 | 33,368 | 32,390 | 32,300 | 32,103 | 33,214 | 34,036 | 35,573 | |
| CWIP | 17,277 | 10,744 | 3,079 | 712 | 737 | 982 | 1,282 | 1,709 | 1,581 | 2,987 | 4,040 | 7,675 | 7,020 |
| Investments | 21,907 | 21,251 | 27,321 | 29,332 | 27,025 | 25,494 | 24,639 | 31,731 | 29,655 | 29,766 | 29,735 | 33,991 | 34,411 |
| 16,531 | 17,946 | 17,799 | 22,207 | 20,603 | 21,503 | 20,769 | 22,117 | 35,521 | 32,066 | 30,047 | 33,225 | 41,659 | |
| Total Assets | 73,770 | 76,001 | 80,442 | 86,635 | 82,729 | 81,502 | 80,058 | 87,947 | 99,057 | 96,922 | 97,036 | 108,927 | 118,663 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,031 | 1,029 | 3,641 | 5,898 | 4,414 | 3,171 | 2,786 | 5,564 | 5,208 | 4,836 | 8,112 | 8,890 | |
| -3,403 | -318 | -1,050 | -1,229 | 2,287 | -811 | -2,244 | -3,486 | -1,937 | -1,481 | 312 | -7,432 | |
| 1,601 | -842 | -2,931 | -584 | -9,188 | -2,657 | 1,181 | -4,306 | -869 | -6,290 | -8,036 | -1,401 | |
| Net Cash Flow | 230 | -131 | -341 | 4,085 | -2,487 | -297 | 1,723 | -2,228 | 2,402 | -2,935 | 388 | 57 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 17 | 19 | 21 | 19 | 15 | 17 | 19 | 14 | 14 | 12 | 11 | 12 |
| Inventory Days | 178 | 152 | 158 | 169 | 157 | 153 | 179 | 219 | 189 | 152 | 126 | 131 |
| Days Payable | 87 | 63 | 74 | 89 | 81 | 77 | 64 | 121 | 99 | 73 | 57 | 61 |
| Cash Conversion Cycle | 107 | 108 | 105 | 98 | 91 | 93 | 135 | 112 | 104 | 91 | 79 | 82 |
| Working Capital Days | 21 | 25 | 44 | -35 | 28 | 33 | 7 | 6 | -2 | 34 | 34 | 27 |
| ROCE % | 4% | 5% | 4% | 6% | 6% | 4% | 4% | 3% | 14% | 8% | 9% | 13% |
Documents
Announcements
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Novelis Inc. A Wholly Owned Subsidiary Of The Company Announced Changes In Registrant'S Certifying Accountant
9h - Novelis appointed Ernst & Young as its registered public accounting firm for fiscal year ending March 31, 2028.
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Disclosure Regarding ESG Rating Under Regulation 30 Of SEBI (LODR) Regulations, 2015
10 Dec - NSE Sustainability assigned Hindalco an ESG rating of 69; company notified Dec 9, 2025.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2 Dec - Group investor plant visit at Taloja and Chakan on Dec 5, 2025, 9:00–17:00; no UPSI.
-
Announcement under Regulation 30 (LODR)-Updates on Acquisition
1 Dec - Hindalco completed acquisition of 100% stake in EMIL Mines and Mineral Resources Limited on December 1, 2025.
-
Disclosure Regarding ESG Rating Under Regulation 30 Of SEBI (Listing Obligation And Disclosure Requirements) Regulations, 2015
28 Nov - SES assigned Hindalco ESG rating 68.4; company notified Nov 27, 2025 via email and did not engage SES.
Annual reports
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Financial Year 2025
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Business Segments
1) Novelis (59% in 9M FY25 vs 65% in FY22): [1] [2] The subsidiary, Novelis is the leading producer of flat-rolled aluminum products and the world’s largest recycler of aluminum. It offers solutions to diverse industries, including beverage cans, automobiles, aerospace, and specialty markets such as foil packaging, transportation products, etc. The segment reported a total shipment of 2,800 KT in 9M FY25 vs 2,722 KT in 9M FY24. [3] [4]