Investor Presentation enclosed
HINDALCO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Hindalco reported strong Q4 FY26 results with consolidated revenue of ₹78,133 crore (+20% YoY) and PAT of ₹2,597 crore (+16% YoY). Annual FY26 revenue stood at ₹2,74,944 crore (+15%) and PAT at ₹13,391 crore (+16%). Novelis posted revenue of ₹35,016 crore (+34%) but EBITDA was impacted by Oswego plant fires (~$1.46 billion net impact). India businesses showed robust performance: Aluminium Upstream EBITDA rose 13% to ₹5,448 crore with EBITDA/ton of $1,756; Copper EBITDA surged 52% QoQ to ₹907 crore driven by higher sulphuric acid realizations; Aluminium Downstream EBITDA grew 16% to ₹255 crore on 18% shipment growth. The company maintained its long-term $600+/ton EBITDA guidance for Novelis and is targeting $350-400 million cost savings by FY28.
Mixed picture: India operations delivered strong margin expansion and volume growth, while Novelis faced temporary headwinds from Oswego fires. The 47% YoY surge in capex to ₹31,619 crore signals heavy investment in growth projects, pushing Net Debt/EBITDA to 1.83x—elevated but manageable given the project's future cash generation.