Earnings Review
Hindalco Q4 PAT halves on year due to one-time cost
This story was originally published at 01:08 IST on 23 May 2026
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--Hindalco Industries Jan-Mar consol net profit INR 25.97 bln
--Analysts saw Hindalco Jan-Mar consol net profit at INR 47.60 bln
--Hindalco Industries Jan-Mar consol revenue INR 781.33 bln
--Analysts saw Hindalco Jan-Mar consol revenue at INR 709.27 bln
--Hindalco Jan-Mar consol net profit INR 25.97 bln vs INR 52.83 bln yr ago
--Hindalco Jan-Mar consol revenue INR 781.33 bln vs INR 648.90 bln yr ago
--Hindalco to pay INR 5 per share final dividend
--Hindalco Jan-Mar net profit includes one-time cost INR 41.71 bln
--Hindalco Jan-Mar profit excluding one-time cost INR 67.68 bln
--Hindalco got deffered tax write-back of INR 18 bln Q4 vs INR 2.7 bln yr ago
--Hindalco Q4 consol copper revenue INR 221.56 bln vs INR 145.65 bln yr ago
--Hindalco Q4 consol aluminium upstream sales INR 114.2 bln vs INR 103.1 bln
--Hindalco Q4 consol aluminium downstream sales INR 48.7 bln vs INR 35.95 bln
--Hindalco FY26 consol net profit INR 133.91 bln vs INR 160.01 bln yr ago
--Hindalco FY26 consol revenue INR 2.75 tln vs INR 2.38 tln yr ago
--Hindalco Jan-Mar consol EBITDA INR 111.97 bln vs INR 102.96 bln yr ago
--Hindalco: Expect Oswego plant to restart in next few weeks
--Hindalco Q4 aluminium upstream volume 339,000 tn vs 332,000 tn yr ago
--Hindalco Q4 aluminium upstream EBITDA INR 54.48 bln vs INR 48.38 bln yr ago
--Hindalco Q4 aluminium upstream EBITDA/tn $1,756 vs $1,684 yr ago
--Hindalco Jan-Mar copper volume 128,000 tn vs 135,000 tn yr ago
--Hindalco Jan-Mar copper EBITDA INR 9.07 bln vs INR 6.14 bln yr ago
--Hindalco Q4 India business revenue INR 350.16 bln vs INR 260.67 bln yr ago
--Hindalco Q4 India business EBITDA INR 66.10 bln vs INR 56.71 bln yr ago
--Hindalco consol net debt INR 648.41 bln on Mar 31 vs INR 353.32 bln yr ago
By Astha Oriel and Gunjan Rajput
NEW DELHI – Hindalco Industries Ltd.'s consolidated profit for the March quarter halved on year due to the impact of a one-time cost of INR 41.71 billion. Without the one-time cost, the company's consolidated net profit would have been above the analysts' estimates. The company's on-year fall in consolidated profit for March quarter was the sharpest in 13 quarters, data available with Informist showed.
The company's top line, however, was at a record high in the March quarter. It rose sharply year-on-year, beating analysts view by a comfortable margin.
The company's consolidated net profit for the March quarter declined nearly 51% on year to INR 25.97 billion, and was below analysts estimates of INR 47.60 billion. Without the one-time cost, the company's net profit would have been INR 67.68 billion. The company incurred the one-time cost due to the two fire incidents at its Novelis' plant in Oswego in New York, and flooding its Sierre plant in Switzerland.
The company's revenue from operations rose over 20% on year to INR 781.33 billion and was above street estimates of INR 709.27 billion. Sequentially, the company's net profit rose nearly 27%, and revenue grew over 17%.
The company's total expenses grew sharply in the March quarter, limiting the rise in profit. The expenses rose over 21% on year to INR 715.32 billion. In this, the cost of materials consumed rose over 38% on year to INR 558.90 billion, and employee benefit expense grew nearly 13% to INR 44.25 billion. The company's other expenses grew nearly 7% to INR 81.03 billion, whereas the expense on power and fuel declined over 4% to INR 34.26 billion.
The company's total income during the reporting quarter increased nearly 21% on year to INR 791.58 billion. Hindalco got deffered tax write-back of INR 18 billion in the March quarter, as against INR 2.7 billion in the year-ago period.
Among segments, the company's revenue from copper business grew over 52% on year to INR 221.56 billion. The revenue from aluminium upstream grew nearly 11% on year to INR 114.18 billion and revenue from aluminium downstream was INR 48.67 billion, up over 35% on year. The company's India business revenue was INR 350.16 billion. The company's volume from aluminium upstream business was 339,000 tonnes. The company's volume from copper business was 128,000 tonne.
The company's earnings before interest, tax, depreciation, and amortisation for the March quarter were INR 111.97 billion, up nearly 9% on year. The EBITDA of aluminium upstream business was INR 54.48 billion. The EBITDA per tonne of aluminium business was $1,756. The EBITDA of copper business was INR 9.07 billion. The company's India business EBITDA was INR 66.10 billion for the March quarter.
Giving guidance for the current financial year, the company said it expects the Oswego plant to restart operations in the next few weeks, according to an investor presentation.
Hindalco's net debt as of Mar. 31 was at INR 648.41 billion compared with INR 353.32 billion a year ago. For 2025-26 (Apr-Mar), Hindalco reported an over 16% decline in its consolidated net profit to INR 133.91 billion. Its revenue rose over 15% to INR 2.75 trillion in FY26 against INR 2.38 trillion a year ago.
The company announced a final dividend of INR 5 per share. On Friday, shares of the company ended 0.9% higher at INR 1,109.20 on the National Stock Exchange. The company detailed its quarterly earnings post-market hours. End
Edited by Akul Nishant Akhoury
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