Hindalco Industries Limited

BSE:500440 Stock Report

Market Cap: ₹2.4t

Hindalco Industries Future Growth

Future criteria checks 3/6

Hindalco Industries is forecast to grow earnings and revenue by 20.1% and 10% per annum respectively. EPS is expected to grow by 19.5% per annum. Return on equity is forecast to be 13.6% in 3 years.

Key information

20.1%

Earnings growth rate

19.51%

EPS growth rate

Metals and Mining earnings growth17.2%
Revenue growth rate10.0%
Future return on equity13.56%
Analyst coverage

Good

Last updated26 May 2026

Recent future growth updates

Recent updates

Narrative Update • Jun 07

500440: ABB Partnership And Aerospace Collaborations Will Support Balanced Long Term Outlook

Analysts have raised their fair value estimate for Hindalco Industries from about ₹1,003 to roughly ₹1,129, pointing to updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations as key drivers of the change. What's in the News Hindalco Industries and ABB India signed a Master Sales Agreement aimed at streamlining domestic business processes and reinforcing their existing partnership across multiple ABB business areas.
Narrative Update • May 13

500440: Aerospace Collaborations And ABB Partnership Will Support Balanced Long Term Outlook

Analysts have nudged their price target on Hindalco Industries higher from ₹986.17 to ₹1,002.59, as small adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions lead to a slightly richer valuation outlook. What's in the News ABB India and Hindalco Industries signed a Master Sales Agreement aimed at streamlining domestic business processes and reinforcing their long-standing partnership across multiple ABB business areas (Key Developments).
Narrative Update • Apr 23

500440: Odisha Aluminium Expansion And Aerospace Partnerships Will Support Balanced Long Term Outlook

Analysts have lifted their price target for Hindalco Industries from ₹953.62 to ₹986.17, reflecting tweaks to assumptions on revenue growth, profit margins, discount rate and future P/E expectations. What's in the News ABB India and Hindalco signed a Master Sales Agreement to streamline domestic business processes and extend collaboration across multiple ABB business areas, pointing to closer alignment with a key industrial partner (Client announcement).
Narrative Update • Apr 07

500440: Odisha Aluminium Expansion And Aerospace Partnership Will Shape Balanced Long Term Outlook

Analysts have lifted their price target for Hindalco Industries slightly, with fair value moving from about ₹945 to around ₹954 as they factor in updated assumptions on discount rate, revenue growth, profit margins and future P/E. What's in the News Board meeting scheduled for May 22, 2026, to consider audited standalone and consolidated financial results for the quarter and year ending March 31, 2026, and to decide on any dividend recommendation for that financial year (Key Developments).
Narrative Update • Mar 23

500440: Odisha Aluminium Expansion Will Drive Future Returns And Margin Resilience

Analysts have nudged their price target for Hindalco Industries slightly higher, from ₹940.18 to ₹945.00. They cited refreshed assumptions on discount rate, revenue growth, profit margin and future P/E multiples.
Narrative Update • Mar 08

500440: Future Returns Will Balance Odisha Aluminium Capex With Margin Resilience

Analysts have inched up their price target for Hindalco Industries to ₹940 from ₹936, pointing to refreshed assumptions around fair value, discount rate, revenue growth, profit margin and expected future P/E multiples. What's in the News Embraer SA signed a second memorandum of understanding with Hindalco Industries to identify local partners and suppliers, highlighting ongoing engagement between the two companies (Client Announcements).
Narrative Update • Feb 21

500440: Future Returns Will Reflect Odisha Aluminium Capex And Margin Trade Off

Analysts have lifted their price target on Hindalco Industries by about ₹39, reflecting updated assumptions that include a higher revenue growth outlook, a slightly higher discount rate, a lower profit margin and a reduced future P/E multiple. What's in the News Hindalco Industries announced a major expansion of its aluminium operations in Odisha, including a ₹210b, 3.6 million-tonne-per-annum smelter expansion at the Aditya Aluminium complex in Sambalpur.
Narrative Update • Feb 06

500440: Future Returns Will Likely Reflect Odisha Capex Opportunities And Margin Risks

Analysts have nudged their price target on Hindalco Industries slightly higher to ₹897.11 from about ₹894.61, citing refreshed assumptions around discount rates, revenue growth, profit margins and future P/E that modestly adjust their valuation framework. What's in the News Hindalco announced a major aluminium smelter expansion at its Aditya Aluminium complex in Sambalpur, Odisha, with planned capacity of 3.6 million tonnes per annum and an indicated investment of ₹210,000 million (Key Developments).
New Narrative • Jan 28

Large CapEx Plans And Copper Margin Pressures Will Restrain Long Term Earnings Potential

Catalysts About Hindalco Industries Hindalco Industries is a diversified metals company focused on aluminium and copper, with significant upstream and downstream operations in India and through its subsidiary Novelis. What are the underlying business or industry changes driving this perspective?
Narrative Update • Jan 21

500440: Future Returns Will Likely Reflect Balanced Growth Assumptions And Margin Risks

Analysts have lifted their fair value estimate for Hindalco Industries from ₹850.14 to about ₹894.61 per share, citing updated assumptions on revenue growth, profit margins and future P/E expectations. What's in the News A board meeting is scheduled for February 12, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ending December 31, 2025 (Key Developments).
Narrative Update • Jan 07

500440: Future Returns Will Likely Lag Slightly Improved Fundamentals

Analysts have raised their fair value estimate for Hindalco Industries from ₹838.29 to ₹850.14 as they account for updated assumptions around revenue growth, profit margins and future P/E expectations, along with a slightly lower discount rate. What's in the News A board meeting is scheduled for February 12, 2026, to consider and approve unaudited standalone and consolidated financial results for the quarter ending December 31, 2025.
Narrative Update • Dec 23

500440: Fair Value Will Be Maintained Amid Slightly Improved Long Term Outlook

Narrative Update on Hindalco Industries Analysts have nudged their fair value estimate for Hindalco Industries slightly higher to ₹838.29 from ₹836.86, citing marginal improvements in long term revenue growth assumptions, profit margin expectations, and a modestly lower discount rate that together support a marginally richer future valuation multiple. What's in the News A board meeting is scheduled for November 7, 2025, to consider and approve unaudited standalone and consolidated financial results for the quarter and half year ending September 30, 2025 (company filing).
Narrative Update • Dec 09

500440: Fair Value Will Be Sustained Amid Slightly Firmer Long Term Outlook

Analysts have raised their price target for Hindalco Industries slightly, reflecting a modest uptick in fair value to approximately ₹837 from about ₹832 as they factor in marginally stronger long term revenue growth and valuation multiples, despite a largely stable profit margin outlook. What's in the News A board meeting is scheduled for November 7, 2025, to review and approve unaudited standalone and consolidated financial results for the quarter and half year ending September 30, 2025 (company filing).
Narrative Update • Nov 25

500440: Fair Value Will Be Maintained Amid Modest Outlook Improvement

Analysts have raised their price target for Hindalco Industries from ₹792.19 to ₹831.50, citing expectations of slightly higher revenue growth and updated valuations. What's in the News The Board of Directors is scheduled to meet on November 7, 2025 to consider and approve the unaudited standalone and consolidated financial results for the quarter and half-year ending September 30, 2025 (Board Meeting announcement).
Narrative Update • Nov 07

500440: Fair Value To Be Maintained As Margins And Outlook Improve

Analysts have raised their price target for Hindalco Industries by approximately ₹10, citing improved outlooks for revenue growth and profit margins. What's in the News Hindalco Industries has scheduled a board meeting on November 7, 2025.
Narrative Update • Oct 24

Net Profit Margin And Revenue Expectations Will Slightly Improve Financial Outlook

Analysts have raised their price target for Hindalco Industries from ₹773.26 to ₹781.88. This reflects expectations of slightly improved revenue growth and profit margins.
Narrative Update • Oct 10

Rising Regulatory And Cost Pressures Will Diminish Valuation

Analysts have raised their fair value estimate for Hindalco Industries from ₹760.81 to ₹773.26. They cite modest improvements in forecasted revenue growth and profit margins, as well as updated discount rates and future P/E expectations.
Narrative Update • Sep 25

Rising Regulatory And Cost Pressures Will Diminish Valuation

The modest uplift in Hindalco Industries' consensus price target to ₹760.81 is primarily driven by a slight increase in revenue growth forecasts, while other valuation metrics have remained largely stable. What's in the News Board meeting scheduled on Aug 12, 2025, to consider and approve unaudited standalone and consolidated financial results for the quarter ended June 30, 2025.
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New Narrative • Nov 24

Capitalizing On Downstream Growth And Sustainability Drives Revenue Expansion

Strategic investments in downstream capabilities and sustainability initiatives are set to enhance revenue growth and improve margins across key segments.

Earnings and Revenue Growth Forecasts

BSE:500440 - Analysts future estimates and past financials data (INR Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
3/31/20293,792,088255,645111,121403,90910
3/31/20283,426,704235,41091,041385,52227
3/31/20273,280,991227,20123,852352,10727
3/31/20262,749,440133,910-198,460102,500N/A
12/31/20252,617,010160,770N/AN/AN/A
9/30/20252,535,700177,63026,230250,180N/A
6/30/20252,457,150169,310N/AN/AN/A
3/31/20252,384,960160,01037,610244,100N/A
12/31/20242,296,000138,920N/AN/AN/A
9/30/20242,240,180124,88085,430262,550N/A
6/30/20242,199,840107,750N/AN/AN/A
3/31/20242,159,620101,55083,280240,560N/A
12/31/20232,158,25093,920N/AN/AN/A
9/30/20232,161,68084,23078,240209,790N/A
6/30/20232,181,75084,320N/AN/AN/A
3/31/20232,232,020100,97094,710192,080N/A
12/31/20222,231,090115,460N/AN/AN/A
9/30/20222,202,300138,440101,220167,530N/A
6/30/20222,117,190150,660N/AN/AN/A
3/31/20221,950,590142,010114,120168,380N/A
12/31/20211,798,020122,860N/AN/AN/A
9/30/20211,644,880106,470114,840168,290N/A
6/30/20211,480,60090,050N/AN/AN/A
3/31/20211,320,08051,820116,670172,320N/A
12/31/20201,207,96039,060N/AN/AN/A
9/30/20201,150,35029,46065,140128,430N/A
6/30/20201,134,55021,350N/AN/AN/A
3/31/20201,181,44037,67058,280127,450N/A
12/31/20191,225,71342,757N/AN/AN/A
9/30/20191,265,87346,097N/A117,405N/A
6/30/20191,294,36950,839N/AN/AN/A
3/31/20191,305,42054,960N/A119,770N/A
3/31/20181,151,82860,829N/A108,977N/A
3/31/20171,001,83818,997N/A126,875N/A
3/31/2016987,589-7,725N/A116,877N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 500440's forecast earnings growth (20.1% per year) is above the savings rate (6.9%).

Earnings vs Market: 500440's earnings (20.1% per year) are forecast to grow faster than the Indian market (16.2% per year).

High Growth Earnings: 500440's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 500440's revenue (10% per year) is forecast to grow slower than the Indian market (10.8% per year).

High Growth Revenue: 500440's revenue (10% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 500440's Return on Equity is forecast to be low in 3 years time (13.6%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/08 01:35
End of Day Share Price 2026/06/08 00:00
Earnings2026/03/31
Annual Earnings2026/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Hindalco Industries Limited is covered by 64 analysts. 27 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Rajesh Majumdar360 ONE Capital Market Private Limited
Satyadeep JainAmbit Capital
Parthiv JhonsaAnand Rathi Shares and Stock Brokers Limited