News ArticleHindalco Industries Posts Record Q2 FY27 Revenue of ₹91,708 Crore and PAT of ₹7,533 Crore
Aluminium Upstream EBITDA rises 55%; Copper business delivers highest quarterly EBITDA; Novelis adjusted EBITDA grows 20% amid Bay Minette ramp-up
Hindalco Industries achieved historic Q2 FY27 consolidated revenue of ₹91,708 crore, up 39%, with all-time high consolidated PAT of ₹7,533 crore, a 59% increase. Strong performance was led by Aluminium Upstream EBITDA rising 55% and Copper EBITDA surging 164%, supported by Novelis delivering $508 million adjusted EBITDA. Key operational milestones include Bay Minette commissioning underway and renewable energy capacity expansion to 643 MW.
Hindalco Industries Limited
Investor Presentation
Hindalco Industries Limited reported record consolidated financial results for the quarter ended September 30, 2026, with revenue of ₹91,708 crore, a 39% increase year-on-year, and profit after tax surging 59% to ₹7,533 crore. The strong showing was driven by robust performance across aluminium upstream, copper, and Novelis segments, alongside operational progress at its Bay Minette facility.
Consolidated EBITDA reached ₹13,757 crore, up 42%, supported by aluminium upstream EBITDA rising 55% to ₹7,009 crore, and a record copper EBITDA of ₹1,673 crore, a 164% increase compared to the prior year quarter. Novelis posted an adjusted EBITDA of $508 million, reflecting a 20% improvement, supported by the normalization of its Oswego plant and advance commissioning at Bay Minette.
The aluminium upstream segment saw revenues grow 33% to ₹13,364 crore with EBITDA margins at 52%. Aluminium downstream revenue increased by 45% to ₹5,511 crore with EBITDA at ₹329 crore, driven by product premiumisation and higher shipments. Copper metal sales increased slightly to 116 KT, with revenue rising 47% to ₹21,374 crore due to higher metal and by-product prices.
Hindalco has also made sustainability advances, operating a 65 MW round-the-clock renewable energy plant and expanding total renewable capacity to 643 MW. Water recycling and copper slag utilization improved, and large-scale sapling plantations and habitat restoration projects were initiated.
Looking ahead, Hindalco is progressing with commissioning of Bay Minette’s first hot mill coil production targeting Q4 FY27 and commercial shipments from Q1 FY28. Other projects such as aluminium refinery expansions, copper smelters, and recycling initiatives remain on track, supporting the company's integrated metals business strategy.
Highlights
- Record quarterly consolidated revenue of ₹91,708 crore, up 39% year-on-year
- All-time high quarterly consolidated PAT of ₹7,533 crore, up 59%
- Quarterly consolidated EBITDA rose 42% to ₹13,757 crore
- Aluminium upstream EBITDA increased 55% to ₹7,009 crore with 52% margins
- Copper segment achieved record quarterly EBITDA of ₹1,673 crore, up 164%
- Novelis adjusted EBITDA grew 20% year-on-year to $508 million with per ton EBITDA at $553 /tonne + 23% growth versus prior year quarter + Oswego production normalized + Bay Minette commissioning underway + expected commercial shipment Q1 FY
Key Data Snapshot
What happened
- Hindalco Industries posted record consolidated revenue of ₹91,708 crore and profit after tax of ₹7,533 crore for Q2 FY27.
- Strong quarterly EBITDA of ₹13,757 crore showed a 42% increase year-on-year.
- Aluminium upstream and copper businesses delivered substantial EBITDA gains, 55% and 164% respectively.
- Novelis sustained improved performance with adjusted EBITDA at $508 million, supported by Oswego plant production normalization.
- Bay Minette aluminium rolling mill commissioning is in progress, with commercial shipments planned starting Q1 FY28.
- Renewable energy capacity expanded to 643 MW including a unique 65 MW round-the-clock plant.
- Water recycling rates improved, along with significant environmental conservation efforts.
Key details
- Aluminium upstream quarterly revenue increased by 33% to ₹13,364 crore with EBITDA margins at 52%.
- Aluminium downstream revenue rose 45% to ₹5,511 crore with EBITDA at ₹329 crore due to product mix and premiumisation.
- Copper metal sales rose 2% to 116 KT while revenue increased 47% due to higher metal prices and by-product realizations.
- Novelis shipments remained stable while revenue grew 25% year-on-year driven by metal price increases.
- Bay Minette's commissioning workflow targets first hot mill coil by Q4 FY27 and commercial shipments from Q1 FY28.
- Hindalco achieved 110% copper slag utilisation and expanded renewable energy installations.
- Sustainability initiatives include planting 0.54 million saplings in H1 FY27 and advancing habitat restoration projects.
Strategic context
- Hindalco emphasizes an integrated metals business model combining upstream production with downstream value addition.
- Commissioning of Bay Minette and other projects such as aluminium battery foil, copper recycling and FRP plants supports growth of non-LME-linked businesses.
- The company continues to advance aluminium refinery, smelter, copper smelter and coal mine projects on schedule.
- Sustainability efforts underpin operational practices, with renewable energy, water stewardship, and environmental conservation integrated into strategy.
- The diversified business model sustains earnings growth despite LME price volatility and macroeconomic headwinds.
Highlights
- Record quarterly consolidated revenue of ₹91,708 crore, up 39% year-on-year
- All-time high quarterly consolidated PAT of ₹7,533 crore, up 59%
- Quarterly consolidated EBITDA rose 42% to ₹13,757 crore
- Aluminium upstream EBITDA increased 55% to ₹7,009 crore with 52% margins
- Copper segment achieved record quarterly EBITDA of ₹1,673 crore, up 164%
- Novelis adjusted EBITDA grew 20% year-on-year to $508 million with per ton EBITDA at $553 /tonne + 23% growth versus prior year quarter + Oswego production normalized + Bay Minette commissioning underway + expected commercial shipment Q1 FY
Disclosures
- Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
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