Hindalco Industries Limited reported its highest-ever quarterly consolidated revenue and net profit for the second quarter of FY27, supported by strong performance across its aluminium, copper and downstream businesses, along with an improvement in operations at its subsidiary Novelis.
The company’s consolidated net profit increased 58.9% year-on-year (YoY) to ₹7,533 crore in Q2 FY27, compared with ₹4,741 crore in the corresponding quarter of the previous financial year.
Consolidated revenue from operations grew 38.8% YoY to ₹91,708 crore from ₹66,058 crore in Q2 FY26. Consolidated EBITDA increased 42.1% to ₹13,757 crore, compared with ₹9,684 crore in the year-ago quarter.
Profit before tax after exceptional items rose 62% YoY to ₹10,594 crore from ₹6,540 crore in the corresponding quarter last year.
Hindalco Q2 Results : Aluminium Business Records Strong Growth
Hindalco’s aluminium upstream business reported revenue of ₹13,364 crore in Q2 FY27, registering growth of 33% compared with the corresponding quarter last year.
The segment’s EBITDA increased 55% YoY to ₹7,009 crore from ₹4,524 crore. Aluminium upstream EBITDA margin stood at 52%, supported by favourable market conditions, higher shipments and improved operational performance.
Aluminium shipments increased to 345 kilotonnes (KT) from 341 KT in Q2 FY26.
The aluminium downstream business also delivered a strong performance, with revenue rising 45% YoY to ₹5,511 crore. Quarterly EBITDA reached an all-time high of ₹329 crore, increasing 26% from the year-ago period. Sales volume stood at 119 KT, up 6% YoY.
Copper Business EBITDA Jumps 164%
Hindalco’s copper business recorded its highest-ever quarterly EBITDA of ₹1,673 crore in Q2 FY27, compared with ₹634 crore in the corresponding quarter last year, marking an increase of 164%.
Revenue from the copper business increased 47% YoY to ₹21,374 crore from ₹14,563 crore. Total metal sales rose 2% to 116 KT during the quarter.
The company attributed the improvement to strong operational performance, healthy domestic demand, higher metal prices and better realisations from by-products such as sulphuric acid.
Novelis Reports 20% Growth in Adjusted EBITDA
Hindalco’s subsidiary Novelis reported revenue of $5.94 billion in Q2 FY27, increasing 25% compared with $4.74 billion in the year-ago quarter.
Its adjusted EBITDA rose 20% YoY to $508 million from $422 million. Adjusted EBITDA per tonne increased 23% to $553 from $448.
Novelis recorded aluminium shipments of 919 kilotonnes during the quarter, compared with 941 kilotonnes in Q2 FY26.
The company said production at Novelis’ Oswego plant had returned to normal levels. Meanwhile, construction and commissioning activities at its Bay Minette facility continued, with first hot-mill coil production targeted for Q4 FY27 and commercial shipments expected from Q1 FY28.
Hindalco’s Non-LME-Linked Businesses Strengthen Earnings
Hindalco’s non-LME-linked businesses recorded combined EBITDA of ₹6,860 crore during Q2 FY27, an increase of approximately 50% year-on-year.
These businesses contributed nearly half of the company’s consolidated earnings, highlighting the growing contribution of operations that are less directly linked to London Metal Exchange price movements.
The company said its integrated business model, combining upstream metals operations with downstream value-added products, supported earnings resilience during the quarter.
Hindalco’s Debt Position and Expansion Plans
Hindalco’s consolidated net debt-to-EBITDA ratio stood at 1.80 times as of September 30, 2026, compared with 1.23 times a year earlier.
The company continued to advance several expansion and sustainability initiatives during the quarter. It operationalised a 65 MW round-the-clock renewable energy project at Aditya Aluminium and commissioned an additional 173 MW of renewable energy capacity, taking its total installed renewable energy capacity to 643 MW.
The company is also progressing with projects involving copper recycling, aluminium battery foil, aluminium flat-rolled products and inner-grooved tubes.
Hindalco Q2 Results : Key Financial Highlights
- Consolidated revenue: ₹91,708 crore, up 39% YoY.
- Consolidated net profit: ₹7,533 crore, up 59% YoY.
- Consolidated EBITDA: ₹13,757 crore, up 42% YoY.
- Profit before tax after exceptional items: ₹10,594 crore, up 62% YoY.
- Aluminium upstream EBITDA: ₹7,009 crore, up 55% YoY.
- Aluminium downstream EBITDA: ₹329 crore, up 26% YoY.
- Copper business EBITDA: ₹1,673 crore, up 164% YoY.
- Novelis adjusted EBITDA: $508 million, up 20% YoY.
- Non-LME-linked business EBITDA: ₹6,860 crore.
Management Commentary
Commenting on the performance, Satish Pai, Managing Director of Hindalco Industries, said the company delivered its strongest-ever quarterly performance, with revenue and profit exceeding previous highs.
He highlighted the contribution of the integrated business model, strong aluminium upstream performance, record copper downstream performance and improved operations at Novelis.
Looking ahead, the company expects projects such as Bay Minette, copper recycling, aluminium battery foil and other downstream expansion initiatives to increase the contribution of non-LME-linked businesses and strengthen its integrated metals portfolio.
Overall, Hindalco delivered a record Q2 FY27 performance, with consolidated revenue increasing 39% and net profit rising 59% year-on-year. Strong contributions from aluminium, copper and Novelis supported the improvement in earnings.
Source: Hindalco Industries Limited, official Q2 FY27 financial results and earnings press release dated November 6, 2026.
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