Hindalco Industries Limited (IN:HINDALCO)
:HINDALCO
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Hindalco Industries Limited
(HINDALCO)
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Rating:65Neutral
Price Target:
₹1,193.00
▲(14.83% Upside)
Action:Downgraded
Date:05/24/26
The score is primarily held back by weak FY2026 cash generation (sharp drop in operating cash flow and deeply negative free cash flow) despite a much stronger balance sheet. Technicals are supportive with a strong uptrend and positive momentum, while valuation is only average with a moderate P/E and low dividend yield.
Positive Factors
Balance-sheet de-risking
Debt-to-equity falling to ~0.17 materially reduces financial risk and increases strategic flexibility. A stronger capital structure supports investment, opportunistic M&A or cyclicality absorption without immediate refinancing pressure, improving long-term solvency and resilience.
Negative Factors
Sharp free-cash-flow deterioration
A swing to deeply negative FCF constrains internal funding for capex, dividends and debt paydown. Even with low leverage, negative FCF increases reliance on external financing or asset sales, raising execution and funding risk over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet de-risking
Debt-to-equity falling to ~0.17 materially reduces financial risk and increases strategic flexibility. A stronger capital structure supports investment, opportunistic M&A or cyclicality absorption without immediate refinancing pressure, improving long-term solvency and resilience.
Read all positive factors
Hindalco Industries Limited (HINDALCO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.49T
Dividend Yield0.58%
Average Volume (3M)140.51K
Price to Earnings (P/E)24.0
Beta (1Y)0.90
Revenue Growth15.28%
EPS Growth-16.31%
CountryIN
Employees71,217
SectorBasic Materials
Sector Strength58
IndustryAluminum
Share Statistics
EPS (TTM)80.00
Shares Outstanding2,247,226,600
10 Day Avg. Volume235,295
30 Day Avg. Volume140,508
Financial Highlights & Ratios
PEG Ratio-0.90
Price to Book (P/B)1.44
Price to Sales (P/S)0.71
P/FCF Ratio-8.38
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)87.8
Revenue Forecast (FY)₹3.00T
Hindalco Industries Limited Business Overview & Revenue Model
Company Description
Hindalco Industries Limited, together with its subsidiaries, produces and sells aluminum and copper products in India and internationally. It operates through Aluminium, Copper, Novelis, and All Other segments. The company offers alumina; primary ...
How the Company Makes Money
Hindalco primarily makes money by producing and selling metals and value-added metal products across two major business segments—aluminium and copper—along with earnings from its global downstream subsidiary Novelis.
1) Aluminium business (India)...
Hindalco Industries Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
41
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.52T | 2.75T | 2.37T | 2.15T | 2.22T | 1.94T |
| Gross Profit | 813.75B | 583.06B | 793.65B | 685.84B | 692.80B | 651.52B |
| EBITDA | 355.12B | 263.72B | 335.47B | 253.16B | 239.28B | 295.23B |
| Net Income | 177.63B | 133.91B | 160.01B | 101.55B | 100.97B | 137.30B |
Balance Sheet | ||||||
| Total Assets | 2.97T | 3.48T | 2.66T | 2.32T | 2.25T | 2.23T |
| Cash, Cash Equivalents and Short-Term Investments | 281.10B | 226.92B | 213.78B | 181.41B | 213.32B | 228.28B |
| Total Debt | 748.78B | 235.70B | 656.42B | 608.31B | 660.75B | 669.45B |
| Total Liabilities | 1.62T | 2.11T | 1.42T | 1.26T | 1.30T | 1.45T |
| Stockholders Equity | 1.35T | 1.37T | 1.24T | 1.06T | 948.06B | 781.91B |
Cash Flow | ||||||
| Free Cash Flow | -26.49B | -234.36B | 37.61B | 83.28B | 93.66B | 114.12B |
| Operating Cash Flow | 80.36B | 66.60B | 244.10B | 240.56B | 192.08B | 168.38B |
| Investing Cash Flow | -126.83B | -277.84B | -247.39B | -142.76B | -80.16B | -70.74B |
| Financing Cash Flow | 52.85B | 248.78B | -18.16B | -108.17B | -104.50B | -67.65B |
Hindalco Industries Limited Technical Analysis
Positive
1038.95
Price Trends
993.46
Positive
962.01
Positive
864.94
Positive
Market Momentum
25.12
Negative
64.17
Neutral
86.13
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HINDALCO, the sentiment is Positive. The current price of 1038.95 is below the 20-day moving average (MA) of 1061.82, above the 50-day MA of 993.46, and above the 200-day MA of 864.94, indicating a bullish trend. The MACD of 25.12 indicates Negative momentum. The RSI at 64.17 is Neutral, neither overbought nor oversold. The STOCH value of 86.13 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:HINDALCO.
Hindalco Industries Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | ₹2.49T | 24.02 | ― | 0.58% | 15.28% | -16.31% | |
65 Neutral | ₹1.29T | 14.69 | ― | 8.78% | -17.85% | 14.22% | |
64 Neutral | ₹2.61T | 20.45 | ― | 2.11% | 6.22% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | ₹1.23T | 27.10 | ― | 0.20% | 6.95% | 18.97% |
* Basic Materials Sector Average
IN:HINDALCO
Hindalco Industries Limited
1,109.60
453.07
69.01%
IN:JINDALSTEL
Jindal Steel & Power Ltd.
1,209.85
257.59
27.05%
IN:SKP
SKP Bearing Industries Ltd.
―
―
―
IN:TATASTEEL
Tata Steel Limited
209.20
50.50
31.82%
IN:VEDL
Vedanta Limited
330.05
173.75
111.16%
Hindalco Industries Limited Corporate Events
Hindalco Clears FY26 Results With Clean Audit, Proposes ₹5 Final Dividend and Sets July AGM
May 22, 2026
Hindalco Industries’ board has approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, with the statutory auditors issuing unmodified opinions, underscoring the robustness of the comp...
Hindalco denies halt in aluminium sales, says operations largely unaffected
Mar 15, 2026
Hindalco Industries has refuted media reports claiming it halted aluminium product sales amid the Iran conflict, stating the article is factually incorrect and misleading. The company clarified that operations in its Aluminium Extrusions business ...
Hindalco Announces Resignation of Eternia Business CEO
Feb 27, 2026
Hindalco Industries has announced a change in its senior management, with Chandan Agrawal resigning from his role as CEO of the Eternia Business effective February 28, 2026, citing personal reasons. The departure of a business-unit CEO signals a l...
Hindalco Announces Senior Management Change Following Internal Role Shift
Feb 26, 2026
Hindalco Industries has announced a change in its senior management personnel, with Mr. Senthil Nath set to cease being designated as a Senior Management Personnel effective March 2, 2026, following an internal role change within the company. The ...
Hindalco Says U.S. Government Shutdown Stalls CFIUS Review of AluChem Acquisition
Feb 26, 2026
Hindalco Industries has provided an update on the proposed acquisition of AluChem Companies, Inc. by Aditya Holdings LLC, its step-down wholly owned subsidiary, noting that regulatory review in the U.S. has been affected by government circumstance...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.