Hindalco Industries announced the approval of its Unaudited Standalone and Consolidated Financial Results for the quarter and nine months ended December 31, 2025. Consolidated revenue grew 14% YoY to ₹66,521 Crore, while PAT saw a significant increase of 45% YoY to ₹2,049 Crore. The company highlighted strong performance across all segments, including resilient Novelis results and sustained gains in the Indian business, while also emphasizing achievements in safety, waste recycling, and water conservation.
Q3 FY26 Consolidated Financial Highlights
Hindalco Industries approved its Unaudited Financial Results for the quarter and nine months ending December 31, 2025. The consolidated performance showed robust growth across key metrics:
- Revenue from Operations: Reached ₹66,521 Crore, marking a 14% YoY increase. For the 9M FY26 period, revenue stood at ₹1,96,811 Crore (up 13% YoY).
- Business Segment EBITDA: Increased by 6% YoY to ₹8,762 Crore in Q3 FY26, supported by strong performance in the India business and resilient Novelis results.
- Profit After Tax (PAT): Grew by an impressive 45% YoY to ₹2,049 Crore in Q3 FY26. The 9M PAT showed a 1% YoY growth at ₹10,794 Crore.
- Profit Before Exceptional Items and Tax: Stood at ₹5,439 Crore (up 2% YoY).
Segmental Performance Overview
The Hindalco (India) Businesses reported strong YoY growth:
- Revenue: ₹29,858 Crore (up 21% YoY).
- Business Segment EBITDA: Increased by 10% YoY to ₹5,660 Crore.
- PAT: Grew 24% YoY to ₹3,581 Crore.
Novelis demonstrated resilience despite external factors:
- Revenue: $36,663 Million (up 9% YoY).
- Adjusted EBITDA: $3,102 Million (up 19% YoY, excluding net impact of Tariffs and Oswego fire incidents).
- Net Income: Showed a significant rise of 48% (excluding Oswego fires impact).
The Copper business saw revenue growth of 33% YoY to ₹18,233 Crore, though EBITDA declined 23% YoY to ₹595 Crore.
Debt and Leverage Management
The consolidated Net Debt as of December 31, 2025, stood at ₹59,461 Crore. The Net Debt to EBITDA leverage ratio for Novelis was 3.78x, while the Consolidated leverage was 1.73x.
Key Safety and Sustainability Metrics
The company emphasized its commitment to safety and the environment:
- The Lost Time Injury Frequency Rate (LTIFR) improved to 0.22 in Q3 FY26 from 0.25 in Q3 FY25.
- Hindalco maintained its leadership position in the S&P Global CSA score, moving from 87 in 2024 to 89 in 2025.
- Waste recycling remains strong, with Ash Recycling % at 105 and Bauxite Residue recycling (excluding Utkal) at 126 in Q3 FY26.
- Specific freshwater consumption for Aluminium decreased to 45.45 m3/T metal in Q3 FY26.
- Aluminium Specific GHG Emissions were reduced to 19.11 t CO2e/t in Q3 FY26.
Operational Trends and Outlook
Production volumes remained robust across India operations:
- Aluminium Upstream Shipments were 345 Kt, in line with the previous year.
- Aluminium Downstream Shipments grew by 13% YoY to 115 Kt.
- LME Aluminium prices closed Q3 FY26 at $2,828/tonne.
Business Outlook and Guidance
Key updates for the India business include:
- Upstream: The Aditya Smelter expansion is on track to reach 1.71 MT capacity by FY29.
- Downstream: The goal is to achieve 4x EBITDA by FY30.
Novelis guidance remains intact: Underlying Adjusted EBITDA per tonne is expected at ~$500/t (excluding impacts), and the long-term guidance of $600+/ton EBITDA is maintained, supported by ongoing capacity expansions like the 600 Kt Bay Minnette Expansion.
Source: BSE
