Hindalco Q2 Results: India Aluminium & Copper Shine, Novelis Eyes $600 EBITDA Per Tonne | ET Now
ET Now · 09 Nov 2026 · 6 min
Management interview of Hindalco Industries Ltd (HINDALCO), with 12 key numbers discussed.
- Satish Pai, Managing Director, Hindalco Industries Ltd
Hindalco reported strong Q2 FY27 results across its Indian operations, supported by robust volumes, value-added products, and all-time high sulfuric acid prices boosting copper EBITDA to Rs 1,600 cr. Upstream aluminium delivered a 52% EBITDA margin, while downstream aluminium EBITDA rose 26% year-on-year. For Novelis, operations are normalizing post the Oswego fire, with second-half EBITDA expected at $520-$530 per tonne before scaling towards $600 per tonne once Bay Minette ramps up. Management stated that Bay Minette will commission by March 2027, with near-term focus remaining on debt deleveraging rather than a Novelis IPO.