Hindalco Industries Limited

NSEI:HINDALCO Stock Report

Market Cap: ₹1.3t

Hindalco Industries Valuation

Is HINDALCO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of HINDALCO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HINDALCO (₹599) is trading above our estimate of fair value (₹247.39)

Significantly Below Fair Value: HINDALCO is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HINDALCO?

Key metric: As HINDALCO is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for HINDALCO. This is calculated by dividing HINDALCO's market cap by their current earnings.
What is HINDALCO's PE Ratio?
PE Ratio10.7x
Earnings₹124.88b
Market Cap₹1.33t

Price to Earnings Ratio vs Peers

How does HINDALCO's PE Ratio compare to its peers?

The above table shows the PE ratio for HINDALCO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average27.3x
NATIONALUM National Aluminium
12.8x12.2%₹397.7b
VEDL Vedanta
15.5x24.0%₹1.8t
500470 Tata Steel
59.1x62.1%₹1.7t
500188 Hindustan Zinc
21.9x13.8%₹1.9t
HINDALCO Hindalco Industries
10.7x6.1%₹1.3t

Price-To-Earnings vs Peers: HINDALCO is good value based on its Price-To-Earnings Ratio (10.7x) compared to the peer average (27.3x).

Price to Earnings Ratio vs Industry

How does HINDALCO's PE Ratio compare vs other companies in the IN Metals and Mining Industry?

7 CompaniesPrice / EarningsEstimated GrowthMarket Cap
526608 Electrotherm (India)
3.8xn/aUS$168.07m
PRAKASHSTL Prakash Steelage
4xn/aUS$16.92m
522165 Indsil Hydro Power and Manganese
1.6xn/aUS$16.16m
531144 El Forge
1xn/aUS$7.94m
HINDALCO 10.7xIndustry Avg. 26.1xNo. of Companies32PE01632486480+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HINDALCO is good value based on its Price-To-Earnings Ratio (10.7x) compared to the Indian Metals and Mining industry average (26.1x).

Price to Earnings Ratio vs Fair Ratio

What is HINDALCO's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HINDALCO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.7x
Fair PE Ratio30.5x

Price-To-Earnings vs Fair Ratio: HINDALCO is good value based on its Price-To-Earnings Ratio (10.7x) compared to the estimated Fair Price-To-Earnings Ratio (30.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst HINDALCO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹599.00
₹739.07
+23.4%
11.8%₹905.00₹455.00n/a27
Dec ’25₹656.20
₹739.63
+12.7%
11.8%₹905.00₹455.00n/a27
Nov ’25₹690.90
₹751.56
+8.8%
12.6%₹905.00₹455.00n/a27
Oct ’25₹761.55
₹737.85
-3.1%
11.4%₹905.00₹455.00n/a26
Sep ’25₹701.35
₹731.58
+4.3%
12.1%₹905.00₹455.00n/a26
Aug ’25₹673.50
₹749.77
+11.3%
12.0%₹905.00₹455.00n/a26
Jul ’25₹689.85
₹736.92
+6.8%
12.5%₹850.00₹455.00n/a25
Jun ’25₹689.35
₹730.48
+6.0%
12.4%₹835.00₹455.00n/a23
May ’25₹644.40
₹621.17
-3.6%
11.7%₹780.00₹455.00n/a23
Apr ’25₹568.60
₹576.91
+1.5%
7.4%₹635.00₹455.00n/a22
Mar ’25₹519.10
₹570.64
+9.9%
8.0%₹635.00₹455.00n/a22
Feb ’25₹571.25
₹590.27
+3.3%
12.9%₹760.00₹455.00n/a22
Jan ’25₹610.40
₹565.09
-7.4%
9.1%₹725.00₹455.00₹592.9522
Dec ’24₹517.20
₹556.33
+7.6%
7.2%₹625.00₹455.00₹656.2024
Nov ’24₹462.70
₹542.44
+17.2%
7.6%₹625.00₹455.00₹690.9025
Oct ’24₹492.65
₹533.64
+8.3%
8.2%₹625.00₹455.00₹761.5525
Sep ’24₹473.25
₹530.39
+12.1%
8.3%₹625.00₹455.00₹701.3523
Aug ’24₹464.10
₹518.48
+11.7%
11.1%₹657.00₹425.00₹673.5021
Jul ’24₹420.95
₹517.05
+22.8%
11.1%₹657.00₹425.00₹689.8521
Jun ’24₹406.35
₹517.05
+27.2%
11.1%₹657.00₹425.00₹689.3521
May ’24₹436.10
₹519.33
+19.1%
10.2%₹637.00₹450.00₹644.4021
Apr ’24₹405.35
₹530.15
+30.8%
9.6%₹657.00₹450.00₹568.6020
Mar ’24₹413.05
₹534.19
+29.3%
9.4%₹657.00₹450.00₹519.1021
Feb ’24₹467.85
₹532.67
+13.9%
10.3%₹657.00₹429.00₹571.2521
Jan ’24₹473.35
₹525.29
+11.0%
9.7%₹657.00₹429.00₹610.4021

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/02 00:34
End of Day Share Price 2025/01/02 00:00
Earnings2024/09/30
Annual Earnings2024/03/31

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 here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

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 .

Analyst Sources

Hindalco Industries Limited is covered by 65 analysts. 26 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Satyadeep JainAmbit Capital
Parthiv JhonsaAnand Rathi Shares and Stock Brokers Limited
Rahul DholamAngel Broking Private Limited