MarketFriction

Hindalco Industries Ltd

NSE HINDALCO · BSE 500440 · Aluminium
₹941.85 +0.01%
NSE close2026-10-01
52 week range754.45 - 1,176.00
Market cap₹2,14,655 Cr.
P/E10.3
Results 06-11 Nifty 50Nifty 100Nifty 200Nifty 500Nifty MetalNifty Commodities No price band Delivery 56.4%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales54,16952,80855,99457,01358,20358,39064,89064,23266,05866,52178,13384,825
Expenses48,55746,94349,31449,51050,32050,80756,05456,32657,09258,53068,11970,893
Operating Profit5,6125,8656,6807,5037,8837,5838,8367,9068,9667,99110,01413,932
OPM %10%11%12%13%14%13%14%12%14%12%13%16%
Other Income49628136296561469706604532-2,061-3,146-1,236
Interest1,0349448888598698178747548038811,042966
Depreciation1,8431,8742,0181,8921,9321,9392,1182,0802,1552,2202,3752,337
Profit before tax3,2313,3284,1364,8485,6435,2966,5505,6766,5402,8293,4519,393
Tax %32%30%23%37%31%29%19%29%28%28%25%25%
Net Profit2,1962,3313,1743,0743,9093,7355,2844,0044,7412,0492,5977,013
EPS in Rs9.7710.3714.1213.6817.3916.6223.5117.8221.109.1211.5631.21
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales98,759100,184115,183130,542118,144132,008195,059223,202215,962238,496274,944295,537
Expenses90,98187,867101,488115,031103,838114,449166,712200,536192,090206,691240,064254,634
Operating Profit7,77812,31713,69515,51114,30617,55928,34722,66623,87231,80534,88040,903
OPM %8%12%12%12%12%13%15%10%11%13%13%14%
Other Income1,5001,1982,8791,127906-9871,2531,3071,5191,832-4,074-5,911
Interest5,1345,7423,9113,7784,1973,7383,7683,6463,8583,4193,4803,692
Depreciation4,3474,4574,5064,7775,0916,6286,7297,0867,5217,8818,8309,087
Profit before tax-2033,3158,1578,0835,9246,20619,10313,24114,01222,33718,49622,213
Tax %245%43%25%32%36%44%28%24%28%28%28%
Net Profit-7021,8826,0835,4953,7673,48313,73010,09710,15516,00213,39116,400
EPS in Rs-1.218.4727.1024.4816.7715.5061.1044.9345.1971.2059.5972.99
Dividend Payout %-82%13%4%5%6%19%6%7%8%7%8%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth11%16%7%20%
Compounded Profit Growth78%35%19%20%
Stock Price CAGR20%15%25%25%
Return on Equity11%13%13%13%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital207207223223222222222222222222222222
Reserves38,12240,40245,83654,62957,27958,09566,31177,96994,584105,924123,487136,361
Borrowings68,46867,55263,81752,07452,41568,39967,20664,48660,29156,35665,64299,165
Other Liabilities34,95032,98636,26840,08842,05641,90255,08379,17868,39268,22174,949108,933
Total Liabilities141,746141,146146,144147,014151,972168,618188,822221,855223,489230,723264,300344,681
Fixed Assets71,95985,64884,68785,08885,86089,195100,269106,874110,626111,810116,556130,251
CWIP14,1114,2141,8142,0634,0977,72110,2024,9457,70014,86727,39749,526
Investments12,34612,46315,15710,7819,0129,41117,13314,11914,11615,44424,15824,958
Other Assets43,33038,82144,48649,08153,00362,29161,21895,91791,04788,60296,189139,946
Total Assets141,746141,146146,144147,014151,972168,618188,822221,855223,489230,723264,300344,681
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity7,14311,68812,68710,89811,97712,66517,23216,83819,20824,05624,41010,250
Cash from Investing Activity-3,873-3,220-2,8765,333-5,456-7,101-25,280-6,773-7,559-14,267-24,609-25,783
Cash from Financing Activity-2,437-8,862-5,552-16,412-5,4666,610-4,882-6,765-10,450-10,817-1,81620,087
Net Cash Flow833-3944,259-1811,05512,174-12,9303,3001,199-1,028-2,0154,554
Free Cash Flow1,4277,6369,8187,9426,0095,93311,71511,4839,5718,3784,006-19,508
CFO/OP94%166%109%94%89%89%105%73%97%112%94%48%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days322930323229363927283036
Inventory Days104103120115103120146138111111121156
Days Payable879211510896981351289394100127
Cash Conversion Cycle494036383951474945455165
Working Capital Days-64-17171833-3139232
ROCE %6%4%8%10%11%9%9%17%11%11%15%13%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters34.65%34.65%34.65%34.65%34.65%34.65%34.65%34.65%34.65%34.65%34.65%34.67%
FIIs27.01%27.89%26.82%27.18%28.58%28.04%28.15%27.60%28.13%28.16%29.96%31.41%
DIIs25.78%25.06%25.64%25.41%24.17%24.53%24.68%24.93%24.11%23.17%21.35%19.82%
Government0.22%0.35%0.35%0.35%0.35%0.35%0.35%0.35%0.35%0.35%0.35%0.35%
Public11.92%11.59%12.08%11.98%11.78%11.99%11.71%12.01%12.23%13.16%13.21%13.26%
Others0.42%0.47%0.46%0.44%0.50%0.48%0.47%0.45%0.54%0.51%0.49%0.47%
No. of Shareholders6,13,2445,49,2316,41,5416,49,5516,45,5376,94,8366,81,0986,90,9326,65,0096,79,1906,91,3086,99,601

Fundamentals

Market Cap₹ 2,14,655 Cr.
Current Price₹ 955
Stock P/E10.3
Book Value₹ 608
ROCE13.2 %
ROE13.0 %
Dividend Yield0.52 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)20%
Compounded Profit Growth (TTM)20%
Consolidated figures.
Valuation
Market capRs 211,758 Cr
Enterprise valueRs 296,115 Cr
P/E (TTM)12.91x
Price to book1.55x
Price to sales0.72x
EV / EBITDA8.46x
EV / EBIT11.43x
EV / sales1.00x
Price to cash flow20.66x
Earnings yield7.74%
Dividend yield0.52%
P/E, 3-year average12.28x
P/B, 3-year average1.29x
P/E, 5-year average11.04x
P/B, 5-year average1.30x
Profitability
Operating margin (excl. other income)12.69%
Operating margin (incl. other income)11.20%
EBITDA margin11.84%
Pre-tax margin7.52%
Net profit margin5.55%
Net margin, latest quarter8.27%
ROE10.29%
ROCE10.34%
ROA4.40%
ROE, 3-year average11.44%
ROCE, 3-year average12.08%
ROA, 3-year average5.11%
ROE, 5-year average12.99%
ROCE, 5-year average12.82%
ROA, 5-year average5.31%
ROIC (approx.)8.49%
Tax rate27.60%
Other income / net worth-2.98%
Growth
Sales growth (latest year)15.28%
Profit growth (latest year)-16.31%
Sales CAGR, 3 years7.20%
Sales CAGR, 5 years15.81%
Profit CAGR, 3 years9.87%
Profit CAGR, 5 years30.91%
Sales growth QoQ8.56%
Profit growth QoQ170.04%
Sales growth YoY (latest quarter)32.06%
Profit growth YoY (latest quarter)75.15%
Per share
EPS (TTM)Rs 72.94
EPS (latest year)Rs 59.56
EPS (latest quarter)Rs 31.19
EPS, 3-year averageRs 58.64
EPS, 5-year averageRs 56.38
Book value per shareRs 607.49
Sales per shareRs 1,314.48
Cash flow per shareRs 45.59
Free cash flow per shareRs -86.77
Dividend per share (latest year)Rs 4.94
Dividend per share, 3-year averageRs 4.44
Dividend per share, 5-year averageRs 4.05
Dividends
Dividend payout8.29%
Dividend payout, 3-year average7.63%
Dividend payout, 5-year average7.19%
Efficiency
Asset turnover0.80x
Fixed asset turnover2.11x
Inventory turnover2.66x
Inventory days137 days
Debtor days36 days
Debtors turnover10.10x
Creditor days127 days
Cash conversion cycle65 days
Working capital days2 days
Leverage
Total debtRs 99,165 Cr
Cash and bankRs 14,808 Cr
Net debtRs 84,357 Cr
Debt to equity0.73x
Net debt / EBITDA2.41x
Interest coverage7.02x
Current ratio (filing 2026-03-31)1.21x
Quick ratio (filing 2026-03-31)0.56x
Trade payables (filing 2026-03-31)Rs 61,624 Cr
Owners' fund to total sources39.63%
Debt to assets28.77%
Cash flow
Cash from Operating Activity (latest year)Rs 10,250 Cr
Cash from Investing Activity (latest year)Rs -25,783 Cr
Cash from Financing Activity (latest year)Rs 20,087 Cr
Net Cash Flow (latest year)Rs 4,554 Cr
Free cash flow (latest year)Rs -19,508 Cr
FCFE (approx.: FCF + change in debt)Rs 14,015 Cr
Cash from ops / profit, 5 years1.50x
Sales to cash flow26.82x
Statement figures
Net sales (TTM)Rs 295,537 Cr
Net sales (latest year)Rs 274,944 Cr
Sales (latest quarter)Rs 84,825 Cr
Operating profit excl. other income (latest year)Rs 34,880 Cr
Operating profit (latest quarter)Rs 13,932 Cr
Other income (TTM)Rs -5,911 Cr
EBITDA (TTM)Rs 34,992 Cr
PBDT (TTM)Rs 31,300 Cr
Profit before tax (TTM)Rs 22,213 Cr
Tax (latest year)Rs 5,105 Cr
Net profit (TTM)Rs 16,400 Cr
Net profit (latest year)Rs 13,391 Cr
Net profit (latest quarter)Rs 7,013 Cr
Depreciation (TTM)Rs 9,087 Cr
Depreciation (latest quarter)Rs 2,337 Cr
Interest (TTM)Rs 3,692 Cr
Cost of goods sold (latest year)Rs 200,606 Cr
Total expenditure (latest year)Rs 240,064 Cr
Total income (latest year)Rs 270,870 Cr
Share capitalRs 222 Cr
ReservesRs 136,361 Cr
Shareholders' fundsRs 136,583 Cr
Total assetsRs 344,681 Cr
Net blockRs 130,251 Cr
Capital work in progressRs 49,526 Cr
InvestmentsRs 24,958 Cr
ReceivablesRs 27,222 Cr
InventoryRs 75,517 Cr
Other liabilitiesRs 108,933 Cr
Shares outstanding (crore)224.83
Ownership
Promoter holding34.67% (+0.02 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 12.9 is at the 56th percentile of its own 9.4-year range (median 11.2, low 3.9, high 37.0).
P/B 1.55 is at the 81th percentile (median 1.25).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodHINDALCONifty 50Difference
1 week-4.1%-2.8% -1.3 pts
1 month-7.2%-6.8% -0.4 pts
3 months-1.2%-7.6% +6.4 pts
6 months+6.5%+0.4% +6.1 pts
1 year+26.3%-9.9% +36.2 pts
2 years+36.4%-13.6% +50.0 pts
3 years+91.2%+14.2% +77.0 pts
5 years+94.5%+27.9% +66.6 pts
385 mutual fund schemes hold about ₹18,873 Cr. Over three months 197 bought more and 64 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Kotak Arbitrage Fund(M1.29%980 +0%
Mirae Asset Large & Midcap Fund1.94%890 +100%
ICICI Pru Large & Mid Cap Fund2.40%806 +13%
SBI Contra Fund1.20%573 +7%
Aditya Birla SL Flexi Cap Fund1.78%518 +9%
Mirae Asset ELSS Tax Saver Fund1.96%517 +32977%
ICICI Pru Balanced Advantage Fund(M0.69%517 +115%
Aditya Birla SL Large Cap Fund1.71%508 +5%
SBI ELSS Tax Saver Fund1.47%465 +8%
UTI Nifty200 Momentum 30 Index Fund5.09%430 +6%
UTI Nifty 50 Index Fund1.33%393 +7%
Aditya Birla SL ELSS Tax Saver Fund2.32%337 +7%
HDFC Nifty 50 Index Fund1.33%323 +7%
Aditya Birla SL Arbitrage Fund1.16%315 +49%
Tata Arbitrage Fund1.15%286 +49%
ICICI Pru Multi Asset Allocation Fund0.31%275 +106%
HDFC Arbitrage Fund(M0.97%248 +81%
HDFC Large & Mid Cap Fund0.80%243 +4%
SBI Arbitrage Fund0.51%239 -3%
ICICI Pru Nifty 50 Index Fund1.33%231 +7%
ICICI Pru Nifty 50 Index Fund1.33%230 +7%
Franklin India Flexi Cap Fund1.18%228 +7%
Franklin India Large Cap Fund2.88%216 +78%
Aditya Birla SL Focused Fund2.63%209 +6%
ICICI Pru Commodities Fund4.70%201 +3%

Red flags

F-score 3 of 8
explainDebt up, profit down Borrowings up 51% while net profit fell in 2026
lookInventory outrunning sales Inventory grew 55% vs sales +15% in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2026-09-21Life Insurance Corporation of IndiAcquirersell45,348,847SAST Others
2021-09-30Duli Chand Kabra-sell3,250Rs 0.16 CrMarket Sale
2021-09-29Pradip Kumar Banerjee-other557Rs 0.01 CrESOP
2021-09-29Pradip Kumar Banerjee-other4,294Rs 0.09 CrESOP
2021-09-29RAJESH KUMAR GUPTA-other3,235Rs 0.07 CrESOP
2021-09-29RAJESH KUMAR GUPTA-other2,000Rs 0.04 CrESOP
2021-09-28Pradip Kumar Banerjee-sell2,000Rs 0.10 CrMarket Sale
2021-09-27Pradip Kumar Banerjee-sell1,000Rs 0.05 CrMarket Sale
2021-09-23SUSHIL KUMAR-sell3,000Rs 0.14 CrMarket Sale
2021-09-23Barun Roy-sell2,757Rs 0.13 CrMarket Sale
2021-09-13Jagdish Ramaswamy-sell4,000Rs 0.19 CrMarket Sale
2021-09-13Pradip Kumar Banerjee-sell2,000Rs 0.09 CrMarket Sale
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹84,825 Cr +32.1% vs Jun 2025. Net profit ₹7,013 Cr +75.1%.

Activity

Compare
CompanyMcap (Cr)P/EROCE
Vedanta Aluminium Metal Ltd169,88710.7%
National Aluminium Company Ltd63,6679.4339.6 %
Arfin India Ltd1,49292.614.0 %
MMP Industries Ltd1,13725.512.6 %
Maan Aluminium Ltd60144.97.74 %
Msafe Equipments Ltd55921.037.2 %
Jainik Power Cables Ltd29320.929.9 %
PG Foils Ltd2390.42 %
Manaksia Aluminium Company Ltd22725.610.2 %
Palco Metals Ltd688.9025.1 %
Hind Aluminium Industries Ltd5815.7-2.70 %
Sudal Industries Ltd4424.615.5 %
Sacheta Metals Ltd4421.810.2 %
Kanishk Aluminium India Ltd378.8913.8 %
Jivial Industries Ltd369.3143.4 %
No bulk or block deals on record.
Ex-dateActionFactor
2026-07-10Dividend - Rs 5 Per Share
2025-08-08Dividend - Rs 5 Per Share
2024-08-09Annual General Meeting/Dividend - Rs 3.5 Per Share
2023-08-14Annual General Meeting/Dividend - Rs 3 Per Share
2022-08-11Annual General Meeting/Dividend - Rs 4 Per Share
2021-08-12 Annual General Meeting/Dividend - Rs 3 Per Share
2020-09-03 Annual General Meeting/Dividend - Re 1 Per Share
2019-08-14 Annual General Meeting/Dividend - Rs 1.20 Per Share
2018-09-12 Dividend- Rs 1.20 Per Share
2017-09-05 Annual General Meeting/Dividend - Rs 1.10 Per Share
2016-09-06 Dividend - Re 1/- Per Share
2015-09-07Dividend - Re 1 Per Share
2014-09-08Annual General Meeting / Dividend - Re 1/- Per Share
2013-08-30Annual General Meeting And Dividend Rs.1.40 Per Share
2012-08-31Annual General Meeting/Dividend Rs 1.55 Per Share
2011-09-14Dividend-Rs.1.50 Per Share
2010-08-24Dividend-Rs.1.35 Per Share
2009-09-10Dividend-Rs.1.35 Pr Share
2008-08-28Rhs 3:7@Prem Rs95/Div185%
2007-07-23Agm
2007-03-16Interim Dividend-170% Purpose Revised
2006-07-14Dividend-Rs.2.20/- Per Sh
DateTypeWhat it says
2026-10-01AcquisitionUpdate on Acquisition
2026-09-18Credit Rating- OthersESG Rating
2026-09-11Concall / analyst meetSchedule of meet
2026-09-08Concall / analyst meetSchedule of meet
2026-09-05Concall / analyst meetSchedule of meet
2026-08-27Press ReleaseA press release dated August 27, 2026, titled "Hindalco Commissions India s First Superfine PPT ATH Plant, Strengthening India s Self-Reliance in Cabl...
2026-08-21AcquisitionIncorporation of UHG Holdings IFSC Private Limited.
2026-08-13Concall / analyst meetTranscript
2026-08-11Concall / analyst meetIntimation regarding the investor meeting at Motilal Oswal 22nd Annual Global Investor Conference, to be attended by the Company.
2026-08-07Concall / analyst meetLink of Recording
2026-08-07AcquisitionAcquisition
2026-08-07Capacity additionCapacity addition
2026-08-07Change in ManagementChanges in Senior Management Personnel
2026-08-07Investor PresentationInvestor Presentation
2026-08-07Press ReleaseA press release dated August 07, 2026, titled "Hindalco Posts Record Q1 FY27 results".
2026-08-07Board meeting outcomeHindalco Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-05Investor PresentationInvestor Presentation
2026-08-05Press ReleaseA press release dated August 05, 2026, titled "Novelis Reports First Quarter Fiscal Year 2027 Results".
2026-08-03Credit Rating- OthersESG Rating.
2026-07-29Concall / analyst meetIntimation of Q1 FY27 Earnings Conference Call of Novelis Inc., wholly owned subsidiary of the Company
2026-07-29Concall / analyst meetIntimation of Q1 FY27 Earnings Conference Call.
2026-07-27General UpdatesNovelis Inc. a wholly owned subsidiary of the Company has announced entry into a Material Definitive Agreement.
2026-07-23Shareholder meetingVoting results.
2026-07-23General UpdatesChairmans Speech at the 67th Annual General Meeting of the Company
2026-07-23Shareholder meetingProceedings of 67th Annual General Meeting held on July 23, 2026
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.95
Max pain (expiry 2026-10-27)970
Largest call open interest at1,000
Largest put open interest at960
Implied volatility, at the money25.1%
Underlying at snapshot941.85
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-30100
2026-09-294,900
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2020-02-17CESTATHINDALCO INDUSTRIES LTD ---VS.--- COMMISSIONER, CENTRAL EXCISE, CUSTOMS AND SERVICE TAX-JABALPUR
2020-02-03CESTATHINDALCO INDUSTRIES LTD ---VS.--- COMMISSIONER, CENTRAL EXCISE, CUSTOMS AND SERVICE TAX-JABALPUR
2019-12-12CESTATHINDALCO INDUSTRIES LTD ---VS.--- COMMISSIONER, CENTRAL EXCISE, CUSTOMS AND SERVICE TAX-JABALPUR
2019-10-22CESTATHINDALCO INDUSTRIES LTD ---VS.--- JABALPUR
2019-08-20CESTATHINDALCO INDUSTRIES LTD ---VS.--- JABALPUR
2019-05-29CESTATHINDALCO INDUSTRIES LTD ---VS.--- JABALPUR
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Hindalco Industries Ltd?

Hindalco Industries Ltd (HINDALCO) has a market capitalisation of Rs 2,14,655 Cr. at the 2026-10-01 close.

What is the P/E ratio of Hindalco Industries Ltd?

Hindalco Industries Ltd trades at a P/E of 10.3 on trailing twelve-month profit, at the 2026-10-01 close.

What were Hindalco Industries Ltd's latest quarterly results?

In the Jun 2026 quarter, Hindalco Industries Ltd sales was Rs 84,825 Cr (+32.1% vs Jun 2025) and net profit was Rs 7,013 Cr.

What is the 52-week high and low of Hindalco Industries Ltd?

The 52-week high is Rs 1,176.00 and the 52-week low is Rs 754.45.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03