Hindustan Copper outlines 2030 plan, profit near target

Hindustan Copper Ltd (

) has announced a roadmap to triple ore output to 12.2 million tonnes by FY30, up from 3.67 million tonnes in FY26. The company’s FY30 profit target of ₹1,568 crore is already nearly achieved, with FY26 profit at ₹589 crore and June 2026 quarterly profit annualising to about ₹1,410 crore. The surge is less about production and more about copper prices. Global copper touched $14,617 per tonne in 2026, a sharp rise from under $1,000 in late 2025. Management estimates every $100 move in copper adds ₹20–25 crore to profit. A reversion to $10,000 per tonne would erase ₹920–1,150 crore of annual profit, nearly the entire expansion-linked earnings gain. This highlights the core issue: Hindustan Copper is effectively a leveraged play on copper prices, not just a mining expansion story. The ₹7,190 crore investment plan spans Malanjkhand’s underground mine, a JSW-operated Ghatshila project, clearance at Khetri, and the Gujarat Copper Project due in FY27. Execution risks remain, with past capacity underutilisation and monsoon-linked volatility. Shares have rallied 107% in the past year, now at ₹515, well below the January 2026 high of ₹760 . The expansion plan is credible, with reserve additions and private partnerships, but the earnings trajectory is still hostage to copper prices. View: Hindustan Copper offers upside only if copper sustains elevated levels. Investors should track FY27 ore output, Gujarat project timelines, and copper price trends before drawing conclusions. Disclosure: This article is for informational purposes only and does not constitute investment advice. Investors must do their own due diligence or consult a SEBI-registered investment advisor before making investment decisions.