Hindalco Q2 Results: Profit Jumps 59% to Record ₹7,533 Crore
Hindalco Q2 results: net profit rose 59% to a record ₹7,533 crore as revenue hit ₹91,708 crore, led by copper, aluminium upstream and Novelis.
The Hindalco Q2 results, released on Friday, 6 November, showed Hindalco Industries posting a record consolidated net profit of ₹7,533 crore for the July–September quarter, up 59% from ₹4,741 crore a year earlier.
The results also showed record revenue of ₹91,708 crore, up 39% year on year. Consolidated EBITDA rose 42% to ₹13,757 crore.
The Aditya Birla Group’s metals flagship said both revenue and profit were the highest in its history. Hindalco net profit for the quarter topped the previous record of ₹7,013 crore set in April–June. Total income stood at ₹92,651 crore against ₹66,771 crore a year ago.
Copper and aluminium power a record quarter
Aluminium upstream, the company’s largest earnings engine, posted EBITDA of ₹7,009 crore, up 55%, according to the company’s results statement. The copper business delivered its highest-ever quarterly EBITDA of ₹1,673 crore, an increase of 164%.
Novelis, Hindalco’s US-based aluminium rolling subsidiary, reported adjusted EBITDA of ₹4,858 crore, up 32%. Hindalco said production at the Novelis plant in Oswego, New York, which was hit by fires in 2025, is back at normal levels.
In dollar terms, Novelis reported a day earlier that net sales rose 25% to $5.9 billion and net income climbed 29% to $210 million. Adjusted EBITDA rose 20% to $508 million, while shipments slipped 2% to 919 kilotonnes. Novelis reported liquidity of $2.0 billion and net leverage of 4.7 times.
Businesses whose earnings are not linked to London Metal Exchange (LME) prices contributed ₹6,860 crore of EBITDA, up 50%. That is almost half of the company’s total earnings, a share that management has been working to raise.
In the April–June quarter, Hindalco had reported revenue of ₹84,825 crore, up 32%, and net profit of ₹7,013 crore, up 75%. Revenue therefore rose sequentially as well, extending the company’s run of record quarters.
What the Hindalco Q2 results mean for investors
Satish Pai, Managing Director, Hindalco Industries, said the company “delivered its strongest-ever quarterly performance.” He added that the company’s integrated model across upstream metals and downstream products was producing a stronger and more resilient earnings profile.
For investors, the growing non-LME share is the central point. Metal producers usually see profits swing with global aluminium and copper prices, and a larger base of value-added earnings can soften that swing across commodity cycles.
Leverage has edged up, however. Net debt to EBITDA stood at 1.80 times on 30 September 2026, compared with 1.23 times a year earlier. The company is in the middle of a large expansion programme in India and the US.
Novelis spent $1.54 billion on capital projects in the first half of the fiscal year, up from $913 million a year earlier, including investment in the Bay Minette plant. Its management expects lower capital spending and continued cost discipline to return the business to positive free cash flow.
Hindalco describes itself as a $31 billion metals company and the world’s largest aluminium company by revenue, with aluminium and copper operations in India.
Bay Minette ramp-up and the road ahead
The cold mill at Novelis’s new Bay Minette plant in Alabama produced its first coil in September, and the company is working towards commercial shipments in the first quarter of FY28. Hindalco said the ramp-up of Bay Minette, copper recycling, aluminium battery foil, Aditya FRP and inner grooved tubes would lift the share of non-LME earnings further.
The company said its aluminium refinery and smelter projects, copper smelter and coal mine projects remain on track.
Also Read: NTPC Q2 Results: Profit Rises 38.7% to ₹7,030 Crore | L&T Q2 Results: Profit Rises 33% on Record Orders
After the Hindalco Q2 results, investors will watch how the company balances expansion spending against leverage, and whether copper and downstream margins hold as metal prices move. Hindalco’s numbers follow strong September-quarter showings from other heavyweights, including Coal India’s Q2 results, and readers can track more corporate earnings on our news page.
