HINDALCO INDUSTRIES LTD. — Q2FY27 earnings call summary

Filed 12 November 2026 · Official transcript

Capex INR20,719 Cr in H1 FY27; net debt/EBITDA 1.80x; India net cash INR9,000 Cr
Consolidated Q2 FY27 EBITDA up 52% y-y at INR13,869 Cr; PAT up 59% y-y at INR7,533 Cr
Long-term EBITDA guidance Novelis $600/ton; India upstream projects targeting mid-teens IRR at $2,600 aluminium
Novelis production normalized; insurance recoveries $519M; Bay Minette plant commissioning Q1 FY28
Expansion projects underway with INR50,000 Cr spent, INR50,000 Cr under evaluation; phased commissioning 2026-2028
Hedging: 29% aluminium at $3,000/ton for H2 FY27; FY28 26% hedged at $3,168/ton
Aluminium demand in India +6% y-y; global aluminium market deficit ~0.8 mn tons in 2026
Demand drivers: automotive, packaging, electrical, industrial, data centers; India aluminium demand CAGR ~7%