Hindalco Industries Limited · NSE:HINDALCO
Hindalco Industries — Q2 FY26 Earnings Presentation
35 slides from Hindalco Industries's earnings presentation, Nov 7, 2025
Slide 1: Earnings Presentation Q2 FY26
HINDALCO Earnings Presentation/ Q2 FY26 07th November 2025 This is an AI Generated Image Disclaimer: This presentation contains confidential and proprietary information. It is intended solely for the recipient(s) named and may not be reproduced, distributed, or disclosed to any other party without t
Slide 2: Safe harbor statement
Safe harbor statement Forward-looking statements Certain statements in this report may be ‘forward-looking statements’ within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a differe
Slide 3: Contents
Contents Safety & Sustainability Updates Business Environment Financial Performance Key Summary Hindalco Q2 FY26 – Earnings Presentation 3
Slide 4: Safety & Sustainability Updates
Safety & Sustainability Updates Hindalco Q2 FY26 – Earnings Presentation 4
Slide 5: Zero Harm: Our Commitment to Health & Safety
Safety & Sustainability Updates Hindalco (India) Business Zero Harm : Lost Time Injury Frequency Rate Our (LTIFR) To reinforce leadership commitment Commitment 0.17 0.25 0.21 0.25 0.27 and on-ground safety engagement, each Unit Head to take Night Duty Officer role to Health & once every 10 days, fol
Slide 6: Driving Circularity Through Responsible Waste Recycling
Safety & Sustainability Updates Hindalco (India) Business Driving % Recycling of Ash Circularity 92 105 105 98 96 78% of total waste was recycled and reused in Through Q2 FY26, up from 69% in Q2 FY25 reflecting improved waste management performance Responsible Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 duri
Slide 7: Conservation of precious water resources
Safety & Sustainability Updates Hindalco (India) Business Specific freshwater Consumption (m3/T metal) Conservation of precious Aluminium water Specific Fresh Water Consumption reduced YoY, driven by the resources 49.54 47.29 48.40 52.83 47.80 implementation of TWRU* and ZLD# systems at Aditya and K
Slide 8: Driving Conservation Efforts to Sustain Biodiversity
Safety & Sustainability Updates Hindalco (India) Business Creating a Green Wall: Aditya has planted 1,500 fully grown trees to reduce dust Driving emissions within the plant premises, contributing to Hindalco’s mission of ensuring clean air to breathe. Conservation Efforts to Sustain Expanded green
Slide 9: Steady transition towards greener energy mix
Safety & Sustainability Updates Hindalco (India) Business Q4 FY26 FY26 Exit Steady Q2 FY26 Q3 FY26 transition towards greener 292 MW 177 MW 53 MW ~522 MW energy mix • • Solar: 188 MW Wind: 100 MW • • Solar: 137 MW Wind: 40 MW • • Wind: 53 MW Pumped Storage for • • Solar: ~326 MW Wind: ~192 MW • Hyde
Slide 10: Economy & Industry Updates
Economy & Industry Updates Hindalco Q2 FY26 – Earnings Presentation 10
Slide 11: Economy Updates
Economy & Industry Updates Economy Updates GLOBAL (GDP Growth YoY) Global growth is projected to moderate, from 3.3% in 2024 to 3.2% in 2025, and further to 3.1% in 2026. 6.6 3.8 3.5 3.3 3.2 At the same time, inflation is projected to ease -2.7 worldwide, declining from 5.8% in 2024 to 4.2% in 2025,
Slide 12: LME Trends
Economy & Industry Updates LME Trends Aluminium LME ($ / tonne) 2,700 2,629 2,600 2,617 2,519 2,573 2,500 2,399 2,400 2,383 2,447 2,300 2,263 2,324 2,200 2,155 2,200 2,100 2,190 2,000 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Market Snapshot: LME
Slide 13: Domestic Aluminium Demand & Supply
Economy & Industry Updates Domestic (Kilo Tons) Aluminium Domestic Scrap Imports Imports Ex. Scrap Demand & 1,424 1,381 1,426 1,439 1,532 Supply 335 309 322 324 334 In Q2 FY26, the total Indian demand is likely to reach 1,532 Kt (up 8%) primarily 419 445 527 led by strong demand in 468 457 electrica
Slide 14: Domestic Copper Demand & Supply
Economy & Industry Updates Domestic (Kilo Tons) Domestic Scrap* Imports Ex. Scrap Copper 423 420 Demand & 380 364 377 172 184 Supply 161 153 In Q2 FY26, domestic 158 producer’s demand was up 11% at 420 kt 37 81 80 82 50 187 170 137 156 156 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26E Key Macro Drivers (
Slide 15: Quarterly Financial Snapshots
Quarterly Financial Snapshots Hindalco Q2 FY26 – Earnings Presentation 15
Slide 16: Financial Snapshot
Quarterly Financial Snapshots Financial Q2 FY26 vs Q2 FY25 Snapshot All Businesses Consolidated (₹ Crore) 66,058 13% 9,104 6% 4,741 21% Novelis* ($ Million) Revenue Business Segment PAT EBITDA 4,744 10% 422 9% 163 27% Q2 FY25 Revenue Business Segment Net Income 58,203 8,564 3,909 Adjusted EBITDA Q2
Slide 17: Financial Snapshot by segment
Quarterly Financial Snapshot- Hindalco (India) Business Particulars UOM Q2 FY25 Q2 FY26 Change YoY Aluminium Upstream Shipments Kt 328 341 4% Revenue ₹ in Cr 9,125 10,078 10% Business Segment EBITDA ₹ in Cr 3,709 4,524 22% EBITDA/t $/ton 1,349 1,521 13% Aluminium Downstream Financial Shipments Kt 10
Slide 18: P&L: Consolidated Key Metrics
Consolidated Financial Performance Revenue (₹ Crore) Business Segment EBITDA (₹ Crore) 1,40,000 1,30,290 20,000 17,142 17,643 1,15,216 18,000 1,20,000 P&L : 16,000 1,00,000 14,000 80,000 12,000 Consolidated 64,232 66,058 9,104 58,203 10,000 8,564 8,539 60,000 8,000 Key Metrics 40,000 6,000 4,000 20,
Slide 19: Disciplined Capital Allocation
Consolidated Performance Disciplined Capital Allocation Net Debt/EBITDA (Consolidated) (₹ Crore) 1,110 2,125 41,415 11,330 274 1.33 35,338 1.19 1.23 1.06 1.02 -8,762 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 Net Debt Inflow Capex Investments Dividend Others* Net Debt 31st Mar'25 from Operations Payout 30th
Slide 20: Segment wise Performance
Segment wise Performance Hindalco Q2 FY26 – Earnings Presentation 20
Slide 21: Novelis Operational and Financial Performance
Operational and Financial Performance Hindalco Q2 FY26 – Earnings Presentation Novelis Novelis 1,896 1,904 962 920* aluminium 82 Adjusted EBITDA** ($ Million) Total Shipments (Kt) 838 upstream 945 963 941 In Q2 FY26 in line with prior 462 444* 28 476* 54 In Q2 FY26 up 3%, excluding net impact of alu
Slide 22: Aluminium Upstream Performance
Operational and Financial Performance Hindalco Q2 FY26 – Earnings Presentation Hindalco (India) Business novelis 657 666 Aluminium Shipments (KT) 32% 23% 25% 34% 24% Sales Mix (in %) Upstream 328 325 341 In Q2 FY26 up 4% In H1 FY26 Domestic sales mix was 10% higher aluminium 77% 75% 76% 68% 66% vs p
Slide 23: Aluminium Downstream Performance
Operational and Financial Performance Hindalco Q2 FY26 – Earnings Presentation Hindalco (India) Business novelis Shipments (KT) aluminium 199 214 214 199 44 Product Mix (KT) In Q2 FY26 up 10% 36 upstream 103 101 113 103 101 113 In Q2 FY26 FRP up by 7% and Extrusion up by 16% Aluminium 19 22 21 170 1
Slide 24: Copper Performance
Operational and Financial Performance Hindalco Q2 FY26 – Earnings Presentation Hindalco (India) Business novelis 236 237 aluminium Shipments: Metal (KT) 190 201 CC Rod Shipments (KT) upstream 117 124 In Q2 FY26 down 9% QoQ In Q2 FY26 down 7% aluminium 113 104 QoQ 90 97 downstream Copper Q2 FY25 Q1 F
Slide 25: Key Summary
Key Summary Hindalco Q2 FY26 – Earnings Presentation 25
Slide 26: Novelis Key Summary
Key Summary Hindalco Q2 FY26 – Earnings Presentation Novelis By 2030 Highly Circular Reach 75% average recycled content across our products Low Carbon Reduce emissions to less than 3 tonnes of CO2e per Tonne of FRP shipped Advancing Aluminium as the material of choice with circular solutions Leader
Slide 27: India Business: Double Down EBITDA 4x by FY30
Key Summary Hindalco Q2 FY26 – Earnings Presentation India Business Upstream Downstream Aluminium I Copper I Aluminium I Copper Specialty alumina I Recycling DOUBLE DOWN EBIDTA - 4x by FY30 Aluminium downstream Q2 FY26 Industry best margins, globally EBITDA up 69% YoY Continue to be in the first dec
Slide 28: Thank You
Hindalco Industries Limited Corporate Identity No. : L27020MH1958PLC011238 For Further Queries Please Contact : Subir Sen, Investor Relations Telephone +91 22 6662 6666 E mail: hilinvestors@adityabirla.com Website: www.hindalco.com Registered Office 21st Floor, One Unity Centre, Senapati Bapat Marg,
Slide 29: Consolidated: Key Financials
Consolidated : Key Financials Hindalco Q2 FY26 – Earnings Presentation Novelis, Aluminium and Copper Businesses Change QoQ Change Particulars (₹ Crore) Q2 FY25 Q1 FY26 Q2 FY26 H1 FY25 H1 FY26 YoY % Change % YoY % Revenue from Operations 58,203 64,232 66,058 13% 3% 1,15,216 1,30,290 13% Earning Befor
Slide 30: Hindalco (India) Business: Key Financials
Hindalco (India) Business : Key Financials Hindalco Q2 FY26 – Earnings Presentation YOY QoQ Particulars (₹ Crore) Q2 FY25 Q1 FY26 Q2 FY26 H1 FY25 H1 FY26 Change % Change % Change% Revenue from Operations 23,135 24,905 25,494 10% 2% 45,885 50,399 10% EBITDA Aluminium - Upstream 3,709 4,080 4,524 22%
Slide 31: Aluminium (India) Business: EBITDA and Sales Reconciliation
Aluminium (India) Business : EBITDA and Sales Reconciliation Hindalco Q2 FY26 – Earnings Presentation Hindalco (India) Business Aluminium Business EBITDA Particulars (in Rs Cr) Q2 FY25 Q1 FY26 Q2 FY26 H1FY25 H1FY26 EBITDA - Upstream 3,709 4,080 4,524 7,202 8,604 EBITDA - Downstream 154 229 261 264 4
Slide 32: Debt & Leverage
Consolidated Performance Consolidated Debt (₹ Crore) Particulars (Consolidated) 30-Sep-24 31-Dec-24 31-Mar-25 30-Jun-25 30-Sep-25 Gross Debt 59,121 63,696 61,932 63,330 72,670 Debt & Treasury Balance 23,088 21,879 26,600 29,074 31,255 Leverage Net Debt 36,033 41,818 35,332 34,257 41,415 TTM Adjusted
Slide 33: Production Trends
Operational and Financial Performance Hindalco Q2 FY26 – Earnings Presentation Hindalco (India) Business Production Aluminium Aluminium Trends 659 668 Upstream (KT)1 205 221 Downstream# (KT) In Q2 FY26 up 2% In Q2 FY26 up 11% 116 329 332 336 104 105 Q2 Q1 Q2 H1 H1 Q2 Q1 Q2 H1 H1 FY25 FY26 FY26 FY25
Slide 34: Alumina Production Trend
Operational and Financial Performance Hindalco Q2 FY26 – Earnings Presentation Hindalco (India) Business Alumina Production Trend 1,927 1,884 Alumina(Incl Utkal)* (KT) 964 958 926 In Q2 FY26 down 4% Q2 FY25 Q1 FY26 Q2 FY26 H1 FY25 H1 FY26 • Production at Utkal Alumina refinery was at 649 KT in Q2 FY
Slide 35: Q2 FY26: Hindalco Earnings Concall Details
Q2 FY26 : Hindalco Earnings Concall Details Earnings Conference Call is scheduled at 4:30 PM (IST) on Nov 07, 2025. The dial in numbers for the call are given below Location: ACCESS NUMBER Universal Access (India) Primary Number (+) 91 22 6280 1303 Secondary Number (+) 91 22 7115 8204 International