Hindalco Industries Ltd

Meeting Details

• Board meeting scheduled for Friday, November 6, 2026.

Key Agenda Items

• Consider and approve unaudited standalone and consolidated financial results for the quarter ended September 30, 2026.

Other Notes

• Trading window will be closed from Oct 1, 2026 to Nov 9, 2026.
• Earnings conference call to discuss the results; details to be announced.

LIC stake disposal in Hindalco

• Target Company: Hindalco Industries Ltd.
• Disclosing Party: LIC Central Office; not promoter group.
• Transaction Type: Disposal of voting-rights shares.
• Pre-Transaction Holding: 142,668,148 shares, 6.349%.
• Transaction Details: Sold 45,348,847 shares (2.018%); Market sale; equity shares; 16.01.2024–21.09.2026.
• Post-Transaction Holding: 97,319,301 shares, 4.331%.
• Date(s) of Transaction: 16.01.2024 to 21.09.2026.
• Share Capital Context: Before/After: 2,24,72,26,523.00.

Meeting Details

• Sept 21, 2026, 08:30–17:50 local time at CITIC CLSA 33rd Investors' Forum 2026.
• Sept 22, 2026, 08:30–12:30 local time at Forum 2026 – Investors Conference, Hong Kong.

Participants

• Company representatives will participate; specific roles not disclosed.

Conference / Organizer

• Event: CITIC CLSA 33rd Investors' Forum 2026 – Investor Conference.
• Event: Forum 2026 – Investors Conference (Sept 22), in Hong Kong.
• Sept 22 meetings: One-on-one and group meetings.

Purpose

• Intimation of Hindalco's investor meeting attendance.
• Facilitate investor interactions during the conferences.

Materials Availability

• Q1FY27 Earnings Presentation and Investor Day 2025 presentations will be made available pre-event on Hindalco's website.

Additional Notes

• Schedule may change due to organizer or company exigencies.

Plant commissioning and capacity

• Hindalco commissions India's first superfine PPT ATH plant in Belagavi, 30,000 tpa capacity.
• Phase 1 capacity designed to meet almost entire domestic demand for safer cables.
• Facility powered by 100% renewable energy from biomass, solar and wind.
• Phase 2 expansion to 60,000 tpa is planned.

Target overview

• New entity: UHG Holdings IFSC Private Limited, incorporated Aug 20, 2026 at GIFT City, Gujarat.
• Promoter group Hindalco, UltraTech, and Grasim subscribe; UHG becomes Hindalco-related party.
• IFSC-regulated vehicle to own, operate aircraft, ships, and transport assets.
• Turnover not applicable; newly incorporated with no prior turnover.

Transaction details

• Total consideration Rs 1,000,000 for equity shares issued.
• Form of consideration: cash paid by promoter subscribers.
• Shareholding allocated: Hindalco 50%, UltraTech 41%, Grasim 9%.

Regulatory & timeline

• Regulatory approvals: IFSCA approval required.
• Indicative completion timeline: not disclosed.

Target background

• Incorporation date and location: Aug 20, 2026; GIFT City, Gujarat, India.
• Objects: to purchase/lease/charter/own/operate aircraft, ships, and other transport modes.
• Background: entity to strengthen Hindalco's business network; associate of Hindalco.
• Turnover history: not applicable; last three-year turnover not disclosed.

Financial Performance

• Consolidated EBITDA rose 58% YoY to INR 13,481 crores.
• Consolidated PAT rose 75% YoY to INR 7,013 crores.
• India Upstream EBITDA rose 73% YoY to INR 8,606 crores; PAT 5,301 crores, up 86%.
• Novelis Adjusted EBITDA at $516 million; Oswego fire net impact $18 million; insurance proceeds $47 million.
• Consolidated net debt-to-EBITDA at 1.95x; target around 2x.

Operating Update & Segment Trends

• India upstream aluminum shipments up 3% YoY; revenues up 44% YoY.
• India upstream EBITDA 7,390 crores; margin 55%.
• Copper shipments 105 Kt; CCR 96 Kt; quarterly copper EBITDA INR 918 crores.
• Novelis shipments 916 KT; YoY down 5%; EBITDA $516m; $563/ton.

Market Environment & Risk Factors

• Oswego restart in June; ramping to normal; headwinds recovery expected into next fiscal.
• Tariffs: $70 million related to tariff impacts; not excluded from EBITDA on Novelis call.
• MJP premium elevated due to Middle East supply disruptions; expected to ease as imports reconfigure.

Balance Sheet & Cash Flow

• Oswego insurance recoveries expected; cumulative cash impact is about $600 million net.
• NK: Net debt/EBITDA targeted around 2x; Novelis leverage expected to improve from current levels.

Projects & Capex

• Aditya Alumina refinery: Phase 1 180 pots by Dec 2027; Phase 2 by Dec 2028.
• Captive coal mines: Chakla 1.0 MT; Bandha 0.5 MT; Meenakshi development underway.
• Bay Minette greenfield 600 KT on track for completion this year.
• Renewables: add 414 MW; total 884 MW by FY27; 125 MW RE RTC capacity.

Outlook & Guidance

• Global macro: RBI expects FY27 GDP growth at 6.7%; inflation around 5%.
• Novelis long-term EBITDA per ton guidance unchanged at $600.
• 3-year cost-reduction target for Novelis: $350–$400 million; run-rate savings $225 million.
• Downstream EBITDA target for FY30: fourfold increase; ongoing integration with copper.