HINDALCOHindalco Industries Ltd.
Hindalco Industries Q2 FY27 Results: Consolidated Net Profit ₹7,533 Crore on Total Income of ₹92,651 Crore
- Earnings
- Aluminium and copper
Reviewed byRachit TripathiBlacklitt Research
Hindalco Industries reported consolidated total income of ₹92,651 crore and consolidated net profit of ₹7,533 crore for the quarter ended 30 Sep 2026, and standalone total income of ₹35,682 crore and standalone net profit of ₹5,132 crore. It said in a filing on 06 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹92,651 crore, up 38.8% YoY and 7.9% QoQ
- Net profit: ₹7,533 crore, up 58.9% YoY and 7.4% QoQ
- EPS: ₹33.93 basic, against ₹21.35 a year earlier
- Oswego fire: Net exceptional recovery of ₹284 crore in the quarter
Standalone
The company on its own, without its subsidiaries
- Total income: ₹35,682 crore, up 42.6% YoY and 15.6% QoQ
- Net profit: ₹5,132 crore, up 126.5% YoY and 7.3% QoQ
- EPS: ₹23.12 basic, against ₹10.21 a year earlier
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 92,651 | 66,771 | +38.8% | 85,882 | +7.9% | |
| Revenue from operations | 91,708 | 66,058 | +38.8% | 84,825 | +8.1% |
| Other income | 943 | 713 | +32.3% | 1,057 | -10.8% |
| 7,533 | 4,741 | +58.9% | 7,013 | +7.4% | |
| Profit before tax | 10,594 | 6,540 | +62.0% | 9,393 | +12.8% |
| Finance costs | 933 | 803 | +16.2% | 966 | -3.4% |
| Depreciation | 2,524 | 2,155 | +17.1% | 2,337 | +8.0% |
| Tax expense | 3,061 | 1,799 | +70.2% | 2,380 | +28.6% |
| Net profit margin | 8.13% | 7.10% | +1.03 pp | 8.17% | -0.04 pp |
| EPS, basic (₹) | 33.93 | 21.35 | +58.9% | 31.58 | +7.4% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit grew faster than total income, and the gap is narrower than the profit before tax line suggests. Net profit rose 58.9% YoY against 38.8% for total income, while profit before tax rose 62.0%; tax expense rose 70.2%, which pulls net profit growth below pre-tax growth. The tax expense of ₹3,061 crore is 28.9% of profit before tax.
Other income is a small share of the result. Consolidated other income of ₹943 crore is 1.0% of total income and 8.9% of profit before tax. The statement's notes say ₹370 crore of business interruption recoveries for the quarter, and ₹819 crore for the half year, are recorded under other income, so that line includes Oswego fire recoveries.
Exceptional items moved the quarter sharply. The notes record a net exceptional recovery of ₹284 crore for the quarter, against a net expense of ₹2,015 crore for the half year, both tied to the Oswego, New York plant fire. The fire occurred in the year to 31 Mar 2026, and the hot mill restarted in the quarter to 30 Jun 2026. Finance costs of ₹933 crore are 1.0% of total income, and rose 16.2% YoY, slower than total income.
Segment information is given only in the consolidated results. Segment revenue from Novelis, aluminium upstream, aluminium downstream and copper is reported there, with the Novelis segment the largest by revenue.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 35,682 | 25,030 | +42.6% | 30,860 | +15.6% | |
| Revenue from operations | 35,369 | 24,780 | +42.7% | 30,515 | +15.9% |
| Other income | 313 | 250 | +25.2% | 345 | -9.3% |
| 5,132 | 2,266 | +126.5% | 4,784 | +7.3% | |
| Profit before tax | 6,866 | 3,252 | +111.1% | 6,419 | +7.0% |
| Finance costs | 235 | 174 | +35.1% | 285 | -17.5% |
| Depreciation | 802 | 564 | +42.2% | 626 | +28.1% |
| Tax expense | 1,734 | 986 | +75.9% | 1,635 | +6.1% |
| Net profit margin | 14.38% | 9.05% | +5.33 pp | 15.50% | -1.12 pp |
| EPS, basic (₹) | 23.12 | 10.21 | +126.4% | 21.54 | +7.3% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit more than doubled on a YoY basis, rising 126.5% against 42.6% for total income. Profit before tax rose 111.1%, and the tax expense of ₹1,734 crore is 25.3% of profit before tax. Standalone results carry no exceptional items, and the standalone profit before tax line shows nil exceptional income or expense for the quarter.
Standalone finance costs of ₹235 crore are 0.7% of total income, and fell 17.5% QoQ. Standalone other income of ₹313 crore is 4.6% of profit before tax. Consolidated net profit of ₹7,533 crore is ₹2,401 crore higher than standalone net profit of ₹5,132 crore, and consolidated total income is ₹56,969 crore higher than standalone.
Inference
The reason for the delays and whether the company plans another acquisition are not stated.
The company paid a dividend of ₹1,110 crore in the six months to 30 Sep 2026, as shown in the cash flow statements. The notes say a change in the accounting treatment of pot relining cost had no material impact on the quarter or six months. The filing does not give the financial effect of that change beyond that statement, and does not say whether further Oswego insurance recoveries are expected.
Filed with BSE on . Reference: Original filing (PDF)
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