Hindalco raises EBITDA 42% to 13,757 crore rupees

Key Facts

Hindalco said consolidated EBITDA was 13,757 crore rupees in the second quarter of fiscal 2027, up 42% year on year, for the quarter ended September 30, 2026. EBITDA was 9,684 crore rupees in the year-earlier period. The company said consolidated quarterly revenue reached a record 91,708 crore rupees, up 39%. Profit after tax also hit a record 7,533 crore rupees, up 59% year on year. The results reflect contributions from the aluminium, copper and Novelis businesses, with operating figures varying across the group’s units.

In upstream aluminium, EBITDA rose 55% to 7,009 crore rupees during the quarter. Hindalco attributed the improvement to favourable market conditions, higher shipments and strong operating performance. Shipments were 345 thousand tonnes, compared with 341 thousand tonnes in the second quarter of fiscal 2026. Shipment growth, alongside higher earnings, was among the factors supporting the consolidated result. The copper business also posted record quarterly EBITDA of 1,673 crore rupees, up 164% year on year.

Hindalco said copper earnings benefited from strong operating performance and healthy domestic demand across sectors, despite higher London Metal Exchange prices. It added that higher by-product realisations, including sulphuric acid, and one-time gains supported the result. At Novelis, adjusted EBITDA rose 20% to 508 million dollars, while adjusted EBITDA per tonne increased 23% to 553 dollars. The company attributed the improvement at Novelis to structural cost-reduction initiatives. Shipments, however, fell to 919 thousand tonnes from 941 thousand tonnes in the year-earlier period, while revenue rose to 5,942 million dollars from 4,744 million dollars.

Novelis said 39 million dollars in business-interruption insurance proceeds related to the 2025 Oswego fires contributed to the improvement in adjusted earnings during the quarter. This adds detail alongside the cost-reduction initiatives Hindalco cited in its results presentation. Managing Director Satish Pai said the company’s long-term strategy to build an integrated business model spanning primary metals and value-added products “is translating into a stronger and more resilient earnings profile.” Management’s comments came as revenue and profit after tax reached records and aluminium and copper earnings increased. Meanwhile, the consolidated net debt-to-EBITDA ratio rose to 1.80 times on September 30, 2026, from 1.23 times a year earlier.

Hindalco shares were down 0.5% at 932.7 rupees at 2 p.m. on November 6, according to Moneycontrol. The price and change refer to that day’s session, while the financial results cover the quarter ended September 30. The financial picture combines earnings growth in operating segments and higher Novelis revenue with an increase in the net debt-to-EBITDA ratio compared with the previous year. Novelis data also showed a decline in quarterly shipments despite higher revenue and adjusted earnings. These indicators form part of the fiscal 2027 second-quarter results announced by the company.