Hindalco

HINDALCO · NSE · Mega Cap

K
Data Room
Back to companies
Aluminium Frames·Listed·Directness 22/100

Hindalco

Aluminium and copper upstream; key input for solar frames and electricals.

Aluminium Frames
Hold
Last price
₹1029.00
52W: ₹618 – ₹1,080
-4.7% from 52W high
Mkt Cap
₹2.31 L Cr
P/E
13.4x
EV/EBITDA
9.3x
ROCE
14.8%
ROE
14.0%
Book Value
₹600.0
Promoter
34.6%
Real financial data sourced from Screener.in · annual + quarterly statements below

Scoring breakdown

SageOne-style fundamental · TQ-100 technical · solar overlays

A
Fundamental (30%)
50
Valuation (20%)
87
Technical (20%)
76
Solar exposure (10%)
22
Policy beneficiary (7.5%)
55
Project pipeline (5%)
60
Governance safety (7.5%)
80

52-week position

Real snapshot from Screener

₹618Current: ₹1,029₹1,080
P/E
13.4x
P/B
1.7x
Div Yield
0.48%

Investment thesis

One-liner · bull · bear · monitorables

One-liner. Hindalco: aluminium upstream beneficiary of solar manufacturing scale-up.

Bull case

Bull case for Hindalco: continued capacity ramp at attractive unit economics, supportive policy (PLI / ALMM / RPO / open access), benign module + commodity cycle, healthy receivable conversion, and re-rating from current valuation as execution beats consensus.

Bear case

Bear case for Hindalco: module/tariff price crash, working-capital blowout from DISCOM receivables, leverage spiking past 4x net-debt/EBITDA, ALMM/PLI delays, Chinese dumping, and de-rating to historical median multiples on growth disappointment.

Key monitorables
  • 01Quarterly capacity commissioned vs guidance
  • 02Receivable days from DISCOMs and large customers
  • 03Net debt / EBITDA trajectory
  • 04Order book to revenue cover

Solar exposure

Directness · policy linkage · BOM

Primary segmentAluminium Frames
Directness22/100
ALMM eligible—
PLI beneficiary—
Imported BOM—

Valuation snapshot

Multiple methods · solar-specific multiples

MethodValueHist %ile
P/E (TTM)13.4x—
Forward P/E——
EV/EBITDA9.3x—
EV/Sales1.2x—
P/B1.7x—
FCF Yield-0.1%—

Project pipeline

0 tracked projects

No tracked projects.

Financials

Source: Screener.in (consolidated) · ticker HINDALCO · last updated 2026-05-11

Open on Screener.in
Market Cap
₹2.31 L Cr
Price
₹1,029.00
Stock P/E
13.4x
Book Value
₹600.0
ROCE
14.8%
ROE
14.0%
Div Yield
0.48%
52W Range
₹618 – ₹1,080

Ratio analysis (derived from statements)

Growth · profitability · returns · leverage · cash flow · valuation

Growth
Sales 1Y10.4%
Sales 3Y CAGR6.9%
Sales 5Y CAGR15.9%
PAT 1Y57.6%
PAT 3Y CAGR5.2%
PAT 5Y CAGR46.4%
Profitability
OPM latest13.0%
PAT margin latest6.7%
PAT margin 3Y avg5.3%
ROE14.0%
ROCE14.8%
Asset turnover0.90x
Leverage & cash
D / E0.52x
Net Debt / EBITDA2.01x
Borrowings / Assets24.2%
CFO / EBITDA0.77x
CFO / PAT1.53x
FCF (TTM proxy)₹-199 Cr
Valuation
P/E13.4x
EV/EBITDA9.3x
EV/Sales1.24x
P/B1.72x
FCF Yield-0.09%
Div Yield0.48%

Annual P&L · 5 years

₹ Crore. Source: Screener.in consolidated.

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Sales1,32,0081,95,0592,23,2022,15,9622,38,496
Operating Profit17,55928,34722,66623,87231,805
OPM %13%15%10%11%13%
Net Profit3,48313,73010,09710,15516,002
EPS (₹)15.5061.1044.9345.1971.20

Quarterly results · last 4 quarters

₹ Crore.

MetricSep 2024Dec 2024Mar 2025Jun 2025
Sales58,20358,39064,89064,232
OPM %14%13%14%12%
Net Profit3,9093,7355,2844,004

Balance sheet · 5 years

₹ Crore.

ItemMar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Equity Capital222222222222222
Reserves66,31177,96994,5841,05,9241,23,487
Borrowings67,20664,48660,29156,35663,929
Fixed Assets—————
Total Assets1,88,8222,21,8552,23,4892,30,7232,64,300

Cash flow · 5 years

₹ Crore.

ActivityMar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating17,23216,83819,20824,05624,410
Investing-25,280-6,773-7,559-14,267-24,609
Financing-4,882-6,765-10,450-10,817-1,816
Net Cash Flow-12,9303,3001,199-1,028-2,015

Shareholding pattern

Latest disclosed

Promoters
34.65%
FII
29.96%
DII
21.35%
Public
13.21%
Government
0.35%

Policy linkages

Schemes where this company is a confirmed or likely beneficiary

No direct policy linkages tracked.