Hindalco Industries Ltd (HINDALCO) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+0.24%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 31.4%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 13.0%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹928.62

200-Day DMA ● Overlay

₹861.26

14-Day RSI ● Overlay

52.8 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹2.12 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

10.2x

Price / EPS

Book Value (₹) Assets

₹608.0

P/B: 1.6x

ROE (%) Quality

13.0%

Net Profit / Equity

ROCE (%) Efficiency

13.2%

EBIT / Capital

Dividend Yield Yield

0.53%

Face Value: ₹10

Debt / Equity Solvency

0.73x

Manageable

EPS (TTM) Per Share

₹92.34

Trailing 12M

OPM (%) Spread

14.0%

EBITDA Margin

Free Cash Flow Cash

-₹19,508 Cr

CFO - Capex

About Hindalco Industries Ltd

Hindalco Industries Ltd (Novelis) (HINDALCO) is a leading Indian enterprise operating in the Metals & Mining sector.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 10.1% × Turnover: 0.85x × Leverage: 1.73x = ROE: 13%

✓ Company Strengths (Pros)

• Stock is trading at an attractive price-to-book multiple of 1.6x.
• Trading at an attractive valuation with a conservative P/E of 10.2x.

⚠ Key Considerations & Risks (Cons)

• Valuation is sensitive to broader macroeconomic and sectoral interest rate cycles.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹2.96 Lakh Cr

Latest PAT

₹16,400 Cr

EPS (TTM)

₹92.34

OPM %

14.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹52,991 Cr	₹54,169 Cr	₹52,808 Cr	₹55,994 Cr	₹57,013 Cr	₹58,203 Cr	₹58,390 Cr	₹64,890 Cr	₹64,232 Cr	₹66,058 Cr	₹66,521 Cr	₹78,133 Cr	₹84,825 Cr
Operating Profit (EBITDA)	₹5,714 Cr	₹5,612 Cr	₹5,865 Cr	₹6,680 Cr	₹7,503 Cr	₹7,883 Cr	₹7,583 Cr	₹8,836 Cr	₹7,906 Cr	₹8,966 Cr	₹7,991 Cr	₹10,014 Cr	₹13,932 Cr
OPM %	11.0%	10.0%	11.0%	12.0%	13.0%	14.0%	13.0%	14.0%	12.0%	14.0%	12.0%	13.0%	16.0%
Interest Expense	₹992.00 Cr	₹1,034 Cr	₹944.00 Cr	₹888.00 Cr	₹859.00 Cr	₹869.00 Cr	₹817.00 Cr	₹874.00 Cr	₹754.00 Cr	₹803.00 Cr	₹881.00 Cr	₹1,042 Cr	₹966.00 Cr
Depreciation	₹1,786 Cr	₹1,843 Cr	₹1,874 Cr	₹2,018 Cr	₹1,892 Cr	₹1,932 Cr	₹1,939 Cr	₹2,118 Cr	₹2,080 Cr	₹2,155 Cr	₹2,220 Cr	₹2,375 Cr	₹2,337 Cr
Profit before Tax (PBT)	₹3,317 Cr	₹3,231 Cr	₹3,328 Cr	₹4,136 Cr	₹4,848 Cr	₹5,643 Cr	₹5,296 Cr	₹6,550 Cr	₹5,676 Cr	₹6,540 Cr	₹2,829 Cr	₹3,451 Cr	₹9,393 Cr
Net Profit (PAT)	₹2,454 Cr	₹2,196 Cr	₹2,331 Cr	₹3,174 Cr	₹3,074 Cr	₹3,909 Cr	₹3,735 Cr	₹5,284 Cr	₹4,004 Cr	₹4,741 Cr	₹2,049 Cr	₹2,597 Cr	₹7,013 Cr
EPS in ₹	₹10.92	₹9.77	₹10.37	₹14.12	₹13.68	₹17.39	₹16.62	₹23.51	₹17.82	₹21.10	₹9.12	₹11.56	₹31.21

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹1.04 Lakh Cr	₹98,759 Cr	₹1.00 Lakh Cr	₹1.15 Lakh Cr	₹1.31 Lakh Cr	₹1.18 Lakh Cr	₹1.32 Lakh Cr	₹1.95 Lakh Cr	₹2.23 Lakh Cr	₹2.16 Lakh Cr	₹2.38 Lakh Cr	₹2.75 Lakh Cr	₹2.96 Lakh Cr
Expenses	₹95,437 Cr	₹90,981 Cr	₹87,867 Cr	₹1.01 Lakh Cr	₹1.15 Lakh Cr	₹1.04 Lakh Cr	₹1.14 Lakh Cr	₹1.67 Lakh Cr	₹2.01 Lakh Cr	₹1.92 Lakh Cr	₹2.07 Lakh Cr	₹2.40 Lakh Cr	₹2.55 Lakh Cr
Operating Profit	₹8,844 Cr	₹7,778 Cr	₹12,317 Cr	₹13,695 Cr	₹15,511 Cr	₹14,306 Cr	₹17,559 Cr	₹28,347 Cr	₹22,666 Cr	₹23,872 Cr	₹31,805 Cr	₹34,880 Cr	₹40,903 Cr
OPM %	8%	8%	12%	12%	12%	12%	13%	15%	10%	11%	13%	13%	14%
Interest	₹4,178 Cr	₹5,134 Cr	₹5,742 Cr	₹3,911 Cr	₹3,778 Cr	₹4,197 Cr	₹3,738 Cr	₹3,768 Cr	₹3,646 Cr	₹3,858 Cr	₹3,419 Cr	₹3,480 Cr	₹3,692 Cr
Depreciation	₹3,493 Cr	₹4,347 Cr	₹4,457 Cr	₹4,506 Cr	₹4,777 Cr	₹5,091 Cr	₹6,628 Cr	₹6,729 Cr	₹7,086 Cr	₹7,521 Cr	₹7,881 Cr	₹8,830 Cr	₹9,087 Cr
Profit before Tax	₹340.00 Cr	-₹203.00 Cr	₹3,315 Cr	₹8,157 Cr	₹8,083 Cr	₹5,924 Cr	₹6,206 Cr	₹19,103 Cr	₹13,241 Cr	₹14,012 Cr	₹22,337 Cr	₹18,496 Cr	₹22,213 Cr
Net Profit	₹259.00 Cr	-₹702.00 Cr	₹1,882 Cr	₹6,083 Cr	₹5,495 Cr	₹3,767 Cr	₹3,483 Cr	₹13,730 Cr	₹10,097 Cr	₹10,155 Cr	₹16,002 Cr	₹13,391 Cr	₹16,400 Cr
EPS in Rs	4.14	-1.21	8.47	27.10	24.48	16.77	15.50	61.10	44.93	45.19	71.20	59.59	72.99

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	₹207.00 Cr	₹207.00 Cr	₹223.00 Cr	₹223.00 Cr	₹222.00 Cr	₹222.00 Cr	₹222.00 Cr	₹222.00 Cr	₹222.00 Cr	₹222.00 Cr	₹222.00 Cr	₹222.00 Cr
Reserves & Surplus	₹38,122 Cr	₹40,402 Cr	₹45,836 Cr	₹54,629 Cr	₹57,279 Cr	₹58,095 Cr	₹66,311 Cr	₹77,969 Cr	₹94,584 Cr	₹1.06 Lakh Cr	₹1.23 Lakh Cr	₹1.36 Lakh Cr
Borrowings (Debt)	₹68,468 Cr	₹67,552 Cr	₹63,817 Cr	₹52,074 Cr	₹52,415 Cr	₹68,399 Cr	₹67,206 Cr	₹64,486 Cr	₹60,291 Cr	₹56,356 Cr	₹65,642 Cr	₹99,165 Cr
Total Liabilities	₹1.42 Lakh Cr	₹1.41 Lakh Cr	₹1.46 Lakh Cr	₹1.47 Lakh Cr	₹1.52 Lakh Cr	₹1.69 Lakh Cr	₹1.89 Lakh Cr	₹2.22 Lakh Cr	₹2.23 Lakh Cr	₹2.31 Lakh Cr	₹2.64 Lakh Cr	₹3.45 Lakh Cr
Fixed Assets	₹71,959 Cr	₹85,648 Cr	₹84,687 Cr	₹85,088 Cr	₹85,860 Cr	₹89,195 Cr	₹1.00 Lakh Cr	₹1.07 Lakh Cr	₹1.11 Lakh Cr	₹1.12 Lakh Cr	₹1.17 Lakh Cr	₹1.30 Lakh Cr
Total Assets	₹1.42 Lakh Cr	₹1.41 Lakh Cr	₹1.46 Lakh Cr	₹1.47 Lakh Cr	₹1.52 Lakh Cr	₹1.69 Lakh Cr	₹1.89 Lakh Cr	₹2.22 Lakh Cr	₹2.23 Lakh Cr	₹2.31 Lakh Cr	₹2.64 Lakh Cr	₹3.45 Lakh Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹7,143 Cr	₹11,688 Cr	₹12,687 Cr	₹10,898 Cr	₹11,977 Cr	₹12,665 Cr	₹17,232 Cr	₹16,838 Cr	₹19,208 Cr	₹24,056 Cr	₹24,410 Cr	₹10,250 Cr
Cash from Investing (CFI)	-₹3,873 Cr	-₹3,220 Cr	-₹2,876 Cr	₹5,333 Cr	-₹5,456 Cr	-₹7,101 Cr	-₹25,280 Cr	-₹6,773 Cr	-₹7,559 Cr	-₹14,267 Cr	-₹24,609 Cr	-₹25,783 Cr
Cash from Financing (CFF)	-₹2,437 Cr	-₹8,862 Cr	-₹5,552 Cr	-₹16,412 Cr	-₹5,466 Cr	₹6,610 Cr	-₹4,882 Cr	-₹6,765 Cr	-₹10,450 Cr	-₹10,817 Cr	-₹1,816 Cr	₹20,087 Cr
Free Cash Flow (FCF)	₹1,427 Cr	₹7,636 Cr	₹9,818 Cr	₹7,942 Cr	₹6,009 Cr	₹5,933 Cr	₹11,715 Cr	₹11,483 Cr	₹9,571 Cr	₹8,378 Cr	₹4,006 Cr	-₹19,508 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days (DSO)	32	29	30	32	32	29	36	39	27	28	30	36
Inventory Days	104	103	120	115	103	120	146	138	111	111	121	156
Cash Conversion Cycle (Days)	49	40	36	38	39	51	47	49	45	45	51	65
ROCE %	6%	4%	8%	10%	11%	9%	9%	17%	11%	11%	15%	13%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹1,410.28 • Undervalued (Margin of Safety)

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹962.30

DCF Fair Value

₹1,410.28

Graham Number

₹1,123.93

Margin of Safety

+33.2%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹1,410.28

Undervalued (Margin of Safety) (Margin: +33.2%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹1,372	₹1,360	₹1,348	₹1,336
10%	₹1,398	₹1,385	₹1,373	₹1,360
12%	₹1,423	₹1,410	₹1,398	₹1,385
14%	₹1,449	₹1,435	₹1,423	₹1,410

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹1,410	Undervalued
Benjamin Graham Number	₹1,124	Margin of Safety
Historical Sector P/E	₹2,031	Discounted
EV / EBITDA Multiplier	₹1,010	In-Line
Free Cash Flow Yield Model	₹943	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 5/9 (Stable Financials)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

5 / 9 Pass

Altman Z-Score

3.12 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Elevated leverage at 0.73x

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Managing working capital

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 14.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

34.67%

FIIs (Foreign)

31.41%

DIIs (Domestic)

19.82%

Government

0.15%

Public / Retail

13.26%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	34.65%	34.65%	34.65%	34.65%	34.65%	34.65%	34.65%	34.65%	34.65%	34.65%	34.65%	34.67%
+ FIIs (Foreign Portfolio)	27.01%	27.89%	26.82%	27.18%	28.58%	28.04%	28.15%	27.60%	28.13%	28.16%	29.96%	31.41%
+ DIIs (Mutual Funds / Insurance)	25.78%	25.06%	25.64%	25.41%	24.17%	24.53%	24.68%	24.93%	24.11%	23.17%	21.35%	19.82%
+ Public (Retail & HNIs)	11.92%	11.59%	12.08%	11.98%	11.78%	11.99%	11.71%	12.01%	12.23%	13.16%	13.21%	13.26%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Metals & Mining.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

HINDALCO Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

HINDALCO Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

HINDALCO Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹1,231.74

Accelerated market share capture in Metals & Mining, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹1,077.78

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 10x P/E.

🐻 Bear Case (15%) -12.0%

₹846.82

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Metals & Mining)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 19:19 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ Hindalco Industries Ltd (HINDALCO)	Target Stock	₹962.30	+0.24%	10.2x	13.0%	13.2%	0.73	₹2.12 Lakh Cr
JSW Steel Ltd (JSWSTEEL)	Integrated Steel Producer	₹1,353.30	+0.47%	25.0x	10.2%	11.0%	0.99	₹3.02 Lakh Cr
Coal India Ltd (COALINDIA)	Coal Mining & Power Coal	₹406.30	+1.20%	8.3x	28.2%	35.0%	0.12	₹2.59 Lakh Cr
HINDUSTAN ZINC Ltd (HINDZINC)	Metals & Mining Operations	₹579.00	+0.53%	13.8x	76.6%	69.5%	0.39	₹2.35 Lakh Cr
Tata Steel Ltd (TATASTEEL)	Iron & Steel Manufacturing	₹189.28	+2.40%	18.7x	11.7%	12.5%	0.90	₹2.21 Lakh Cr
Vedanta Ltd (VEDL)	Diversified Natural Resources & Metals	₹263.88	+0.72%	9.0x	38.2%	16.1%	0.66	₹98,561 Cr
NMDC Ltd (NMDC)	Iron Ore Mining & Mineral Extraction	₹71.70	+0.28%	8.8x	23.4%	27.6%	0.19	₹65,622 Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	19:19:27 IST	✓ Live Sync
Financial Statements (10Y)	Hindalco Industries Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

Hindalco Industries Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About Hindalco Industries Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Metals & Mining)

Metric Explainer

Stock DNA Methodology

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