Hindalco Results Q3 FY25: Robust consolidated results backed by strong India business performance

Hindalco Industries Limited, the Aditya Birla Group metals flagship, reported a consolidated net profit of ₹3,735 crore for the third quarter, up 60%, driven by a strong operational performance by the India business.

Key Highlights of Q3 FY25 (vs. Q3 FY24)

• Record Aluminium Upstream EBITDA at ₹4,222 crore, up 73%; EBITDA margin at 42%
• Quarterly Copper EBITDA at ₹777 crore, up 18%
• Consolidated EBITDA at ₹8,108 crore, up 28%
• Consolidated Net Debt to EBITDA at 1.33x as of December 31, 2024
• Hindalco secures Meenakshi Coal Mines boosting resource security
• Hindalco becomes the first Indian company to be awarded the Copper Mark - JDDS Accreditation for its sustainable sourcing and production practices
• Hindalco achieves ‘Top 1%’ ranking in the S&P Global Sustainability Yearbook 2025 with the highest ESG score in the aluminium sector globally 
   

Aluminium Upstream EBITDA stood at an all-time high of ₹4,222 crore, up 73%, supported by lower input costs. Copper business recorded an EBITDA of ₹777 crore, up by 18%, backed by continued strong domestic sales and higher by-product realisations. Novelis’ revenue stood at $4.1 billion, mainly driven by higher average aluminum prices with total rolled product shipments of 904 kilotonnes largely comparable to the prior year period.

*As per US GAAP

Commenting on the results, Mr. Satish Pai, Managing Director, Hindalco Industries, said,  
"Hindalco delivered robust consolidated results in the third quarter despite global uncertainties, driven by an excellent performance of its India business. The Aluminium India Upstream business achieved record quarterly EBITDA, with industry-leading margins of 42%. The downstream segment experienced consistent growth posting a 36% increase in EBITDA. The Copper business delivered a robust 18% growth in EBITDA. The business marked a significant milestone by achieving the ‘Copper Mark- JDDS’ for its responsible and sustainable production practices. Novelis continues to focus on operational and cost efficiency initiatives in the face of current pressures on scrap pricing.

During the quarter we secured critical resources for our India upstream business, enhancing our global cost leadership.  Key growth initiatives, such as the alumina refinery, aluminium smelter expansion, copper smelter expansion and the FRP project, remain on track. Our strong balance sheet positions us well for the next phase of transformative growth.  
Our holistic ESG approach continues to gain global recognition. Hindalco is the only company to achieve a Top 1% ranking in the S&P Global Sustainability Yearbook 2025 with the highest ESG score in the aluminium sector.”

Segment-wise Performance

Novelis*: 

• Shipments at 904 KT, down 1%
• Novelis Revenue at $4.1 billion, up 4%, driven by higher average aluminium prices
• Adjusted EBITDA at $367 million, down 19% due to higher aluminum scrap prices and unfavourable product mix
• Net Income at $110 million, down 9%

(*As per US GAAP)

Aluminium (India) 

• Quarterly Upstream revenue at ₹9,993 crore, up 25%
• Record Aluminium Upstream EBITDA at ₹4,222 crore, up 73% 
• Aluminium Upstream EBITDA per tonne was at $1,480, up 68%, with industry-best margins of 42%
• Downstream revenue at ₹3,195 crore, up 25%
• Aluminium downstream EBITDA stood at ₹150 crore, up 36%
• Sales of Downstream Aluminium at 99 KT, up 10% 
• Downstream EBITDA per tonne at $179, up 22%

Copper (India)

• Revenue at ₹13,732 crore, up 15% 
• EBITDA at ₹777 crore, up 18% 
• Copper metal sales at 120 KT, up 1%
• Copper Continuous Cast Rod (CCR) sales at 95 KT, up 1%

Business Updates & Recognition 

• Hindalco secures Meenakshi coal mines with an annual capacity of 12 million tonnes, boosting resource securitization.
• Hindalco’s Copper Tubes project to be commissioned in Q4 FY25.
• Hindalco is the first Indian company to be awarded the Copper Mark - JDDS (Joint Due Diligence Standard) for its sustainable sourcing and production practices. This Accreditation is recognised by the London Metal Exchange, and OECD (Organisation for Economic Co-operation and Development).
• Hindalco ranks among the top 1% in the S&P Global Sustainability Yearbook 2025 with the highest ESG score in the aluminium sector, globally.
• Hindalco named one of India’s Best Workplaces in Manufacturing – 2025, by the Great Place to work ® Institute for the third consecutive year.