Hindalco Q2 Profit Rises 21% to ₹4,741 Crore on Strong Operational Performance

Hindalco Industries reported a robust Q2 FY26 performance, with net profit up 21% YoY to ₹4,741 crore, surpassing Street estimates of ₹4,320 crore. Revenue from operations rose 13% to ₹66,058 crore, while EBITDA grew 6% to ₹9,684 crore, aided by lower coal costs and strong volume growth. The India business delivered solid results with PAT at ₹3,059 crore (+7%), revenue up 10% to ₹25,494 crore, and EBITDA up 15% to ₹5,419 crore. The aluminium upstream segment saw EBITDA surge 22% to ₹4,524 crore on 4% higher shipments (341 KT), while downstream aluminium EBITDA jumped 69% to ₹261 crore on a 10% volume increase. Copper segment revenues rose to ₹14,563 crore, but EBITDA fell 24% to ₹634 crore due to cost pressures. Its US subsidiary, Novelis, posted revenue of $4.74 billion (up from $4.3B), though EBITDA dipped 8.65% to $422 million due to $54 million in tariff impacts. Excluding tariffs, EBITDA rose 3% to $476 million, with EBITDA per tonne at $506. Net income surged 27% to $163 million despite flat shipments at 941 kilotonnes. Management highlighted progress on the $5-billion Bay Minette project, now 100% engineered, with enhanced cost optimization. A shift in production from Canada to the US is helping mitigate tariff risks. MD Satish Pai credited the results to strong domestic demand, cost discipline, and operational efficiency, positioning Hindalco well amid global volatility.