Hindalco Industries Q2 profit soars 59% YoY to ₹7,532 crore, Aluminium Upstream EBITDA grows 55%

In the corresponding period of the preceding fiscal year, it had logged a profit of ₹4,741 crore, according to a regulatory filing.

“This record performance was underpinned by the strength of Hindalco’s integrated business model led by a solid primary upstream business complemented by strong contributions from its downstream business,” it said in a press release.

Its consolidated revenue from operations jumped 38.8% YoY to ₹91,708 crore during the quarter under review, compared with ₹66,058 crore in the second quarter of the 2025-26 fiscal year (Q2 FY26).

At the operational level, its EBITDA (earnings before interest, tax, depreciation, and amortisation), also known as operating profit, stood at ₹13,757 crore in the quarter ended September 30, 2026, marking a 42% YoY increase from ₹9,684 crore in the same quarter last year.

Novelis’ revenue grows amid higher metal prices

Hindalco’s US-based aluminium-producing firm, Novelis, saw revenue rise 25.25% YoY to $5,942 million for the reporting quarter, compared with $4,744 million in the September quarter of FY26, driven by higher metal prices.

Its adjusted EBITDA surged 20% YoY to $508 million in Q2 FY27, from $422 million in the year-ago period, supported by structural cost reduction initiatives.

During the quarter, its Oswego hot mill production was at normal levels and was producing to demand, while Bay Minette continued to advance toward commissioning, with first hot mill coil production targeted for Q4 FY27 and commercial shipments expected from Q1 FY28.

Upstream aluminium EBITDA soars 55%

Its aluminium India upstream business saw revenue growth of 33% YoY to ₹13,364 crore, from ₹10,078 crore.

The Aluminum quarterly upstream business clocked an EBITDA of ₹7,009 crore for the reporting period, up 55% YoY, bolstered by favourable macros, higher shipments and stronger operating performance. Its EBITDA margins remained robust at 52%.

Downstream aluminium revenue rises 45%

Its downstream aluminium revenue increased by 45% YoY to ₹5,511 crore. It recorded an all-time high EBITDA of ₹329 crore, up 26% YoY, supported by favourable product mix, premiumisation and higher shipments.

Coal India business

It clocked a coal business revenue of ₹21,374 crore, registering a 47% YoY increase, on account of high metal prices and better byproduct realisations.

It also recorded quarterly EBITDA of ₹1,673 crore up 164%, backed by strong operational performance and healthy domestic demand across segments despite elevated LME prices and higher realisation of by-products like sulphuric acid and one-time gains.

What the management said

Commenting on the earnings, Satish Pai, Managing Director, Hindalco Industries, said” “Hindalco delivered its strongest-ever quarterly performance, with Revenue and PAT surpassing their previous highs. Our long-term strategy of building an integrated business model across upstream metals and downstream value-added products is translating into a stronger and more resilient earnings profile” . He further stated that while the Aluminium Upstream business registered an EBITDA growth of 55%, its non-LME-linked businesses also recorded EBITDA growth of nearly 50%, supported by stable operations at Novelis and a record quarter in the Copper Downstream, and Aluminium Downstream businesses.

“Looking ahead, the commissioning and ramp-up of Bay Minette, copper recycling, aluminium battery foil, Aditya FRP and Inner Grooved Tubes will further accelerate the share of our non-LME-linked businesses. On the upstream front, our aluminium refinery and smelters, copper smelters and coal mine projects remain on track. Together, these investments reinforce Hindalco’s position as an integrated global metals company, combining upstream strength with downstream growth to deliver sustainable, long-term value in all market cycles,” Pai added.

Hindalco Industries has a total market capitalisation of ₹2.13 lakh crore as of October 6, 2026, according to data on the NSE.