Hindalco Reports Record FY26 Revenue, Ebitda Amid Strong India Growth
Hindalco Industries reported its highest-ever consolidated revenue and Ebitda for both the fourth quarter and full financial year FY26, driven by record performances across its India aluminium and copper businesses alongside steady operational progress at subsidiary Novelis.The company posted consolidated revenue of Rs 78,133 crore for the fourth quarter ended March 31, 2026, marking a 20 per cent rise year-on-year, while consolidated Ebitda rose 9 per cent to an all-time high of Rs 11,197 crore.
Profit after tax before exceptional items stood at Rs 5,796 crore, up 10 per cent compared to the corresponding quarter last year. However, reported net profit declined to Rs 2,597 crore from Rs 5,284 crore a year ago due to disruptions at Novelis’ Oswego facility following fire-related incidents.
For the full year FY26, Hindalco reported record consolidated revenue of Rs 2,74,944 crore, up 15 per cent year-on-year, while consolidated Ebitda reached an all-time high of Rs 38,097 crore. Consolidated PAT before exceptional items rose 10 per cent to Rs 18,733 crore.
The board has recommended a dividend of 500 per cent, translating to Rs 5 per share for FY26.
Commenting on the performance, Satish Pai said the company’s India business delivered record earnings across aluminium upstream, downstream and copper operations.
“Hindalco delivered strong results, led by an outstanding performance by its India business while Novelis remains on track to restart the Oswego plant and commission Bay Minette,” Pai said.
He added that Hindalco India achieved an Ebitda CAGR of over 32 per cent over the last five years, giving the company confidence to accelerate expansion projects across copper and aluminium businesses.
The India aluminium upstream business reported record quarterly Ebitda of Rs 5,448 crore, up 13 per cent year-on-year, aided by favourable macroeconomic conditions and stronger operational efficiencies. Ebitda per tonne rose to an all-time high of $1,756.
The aluminium downstream business also posted record quarterly Ebitda of Rs 255 crore, supported by higher shipments and an improved product mix. Downstream sales volumes rose 18 per cent to 124 KT during the quarter.
The copper business delivered record quarterly Ebitda of Rs 907 crore, up 48 per cent year-on-year, despite pressure from declining treatment and refining charges (TC/RCs). Revenue from the copper segment surged 52 per cent to Rs 22,156 crore, supported by improved by-product realisations, especially sulphuric acid.
Meanwhile, Novelis reported adjusted Ebitda per tonne of $544 during the quarter, reflecting a 10 per cent improvement despite lower shipment volumes impacted by the Oswego disruption. Revenue at Novelis rose 4 per cent to $4.8 billion.
The company said the Oswego hot mill is expected to begin commissioning ahead of schedule, while the Bay Minette cold mill commenced commissioning in March 2026. The hot mill at Bay Minette is expected to be commissioned in the second half of 2026.
On sustainability, Hindalco said it had been included in the S&P Global Sustainability Yearbook 2026, ranking among the top 1 per cent of aluminium companies globally for the sixth consecutive year.
The company received 100th percentile scores across environmental, social and governance parameters, including waste management, biodiversity, human rights, transparency and business ethics.
Hindalco also highlighted ongoing progress across strategic projects including the battery foil plant at Aditya Aluminium, the Chakan battery enclosure plant and its copper recycling project, which is expected to be commissioned in the first half of FY27.
As of March 31, 2026, Hindalco’s consolidated net debt-to-Ebitda ratio stood at 1.83x compared to 1.06x a year earlier, reflecting continued investments into growth and expansion projects.
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