Hindalco Industries Limited reported an annual decline of 50.8% in net profit for the fiscal fourth quarter at Rs 2,597 crore as compared to Rs 5,283 crore at the end of Q4FY25, lagging Bloomberg estimates of Rs 4,491 crore.
The aluminium and copper major’s revenue from operations jumped 20.4% year on year to Rs 78,133 crore in the March quarter, from Rs 64,890 crore in the same quarter last year. The company’s revenue from operations beat street estimates of Rs 74,063 crore.
Earnings before interest, taxation, depreciation, and amortisation (EBITDA) for the quarter was Rs 10,018 crore, ahead of Bloomberg estimates of Rs 9,151 crore, and up 13.4% from Q4FY25’s Rs 8,836 crore benefitting from lower power and fuel cost, and inventory costs in the quarter.
“Consolidated revenue, EBITDA and PAT before one-time exceptional items reached all-time highs in both Q4 and the full year. Our India business delivered record performance across the Aluminium Upstream, Aluminium Downstream and Copper businesses, with EBITDA at a historic high of Rs 22,671 crore for the full year,” Satish Pai, managing director, Hindalco Industries, said.
He added that the firm’s performance was led by the India business, even as Hindalco’s US subsidiary Novelis remained on track to restart the fire hit Oswego plant and commission the facility at Bay Minette.
“Over the last five years, Hindalco India has achieved an EBITDA CAGR of over 32% giving us the confidence to accelerate our expansion projects including doubling capacities in our Copper business, and at Aditya Aluminium,” Pai said.
Domestic Surge
India business PAT was Rs 3,549 crore showing a jump of 11% annually, the company said in its earnings presentation. Revenues at Rs 35,016 crore were up 34% annually, while EBITDA at Rs 6.610 crore was up 17%.
Overseas Headwinds
The company’s US subsidiary, Novelis, reported revenue of $4.79 billion, up from $4.59 billion in the same quarter last year, driven by higher metal prices. Business segment EBITDA for the subsidiary was $459 million, down 3% due to the impact of lower volumes, tariffs and disruption due to Oswego fires.
“Novelis demonstrated strong underlying business momentum with adjusted EBITDA at $544 per tonne despite lower volumes,” Pai added.
Shipments for the fiscal fourth quarter dipped annually at 844 kilotonne (KT) as compared to 957 KT a year ago.
Novelis exited FY26 with cost take-out savings of more than $125 million, the company said. Its Oswego hot mill is set to begin commissioning ahead of schedule, Hindalco added.
The greenfield plant in Bay Minette began commissioning the cold mill in March 2026 and hot mill is expected to commission in the second half of 2026.
Hindalco’s aluminium upstream segment reported revenue of Rs 11,418 crore, up 11% annually from Rs 10,311 crore in the same period last year. Meanwhile, aluminium downstream revenue was Rs 4,867 crore up 35% from Rs 3,595 crore in the fourth quarter of FY25. The copper segment posted revenue of Rs 22,156 crore up 52% versus Rs 14,565 crore in the same quarter previous year.
Aluminium upstream EBITDA was Rs 5,448 crore, up 13% annually, while downstream aluminium EBITDA at Rs 255 crore was up 16% year on year. Copper business EBITDA was up 48% at Rs 907 crore.
Upstream aluminium shipments were up 2% on an annual basis at 339 KT against 332 KT in Q4FY25. Downstream aluminium shipments at 124 KT were up 18% year on year while copper shipments at 128 KT were down 5%.