The revenue from operations in the quarter under review stood at Rs 66,058 crore, rising 13% YoY as compared to Rs 58,203 crore in the corresponding quarter of the last financial year.
The Aditya Birla Group company’s profit after tax (PAT) grew 18% on a sequential basis compared to Rs 4,004 crore in Q1FY26 while the topline witnessed a 3% uptick versus Rs 64,232 crore reported in the April-June quarter.
The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) in Q2FY26 stood at Rs 9,684 crore versus Rs 9,100 crore in the year ago period.
Hindalco Industries robust results were driven by a strong performance by the India business, and a resilient performance by Novelis, the company filing said.
India Aluminium upstream business delivered another standout performance with EBITDA at Rs 4,524 crore, up 22%, while Aluminium downstream achieved a record EBITDA of Rs 261 crore, up 69% compared to Q2 FY25.The company further said that its aluminium upstream EBITDA margins of 45% were industry-best. Despite headwinds, Novelis reported flat shipments over the prior year quarter, the filing said.
Segment-wise Performance for Q2 FY26
Novelis
— Shipments flat at 941 KT
— Revenue at $4.7 billion, up 10%, driven by higher average aluminium prices
— Adjusted EBITDA at $422 million, down 9% due to the impact of tariffs
— Cost take-out run rate at more than $125 million by end of FY26
— Bay Minette and other strategic investments projects advancing well
— Oswego plant to restart hot mill in December 2025
Aluminium Upstream
— Quarterly upstream revenue at 10,078 crore, up 10% driven by higher volumes and realisations
— Aluminium upstream EBITDA per tonne at $1,521, up 13%
— 2nd Phase Aditya Aluminium expansion of 193 KT announced, with a project cost of ₹10,225 crore and expected commissioning in FY29
Aluminium Downstream
— Sales of aluminium downstream at 113 KT, up 10%
— Downstream revenue at Rs 3,809 crore, up 20%
— Record aluminium downstream EBITDA at Rs 261 crore, up 69% on account of higher shipments and favourable product mix
— Record downstream EBITDA per tonne at $265, up 49%
Copper
–Copper metal sales at 113 KT, down 3%
— Revenue at Rs 14,563 crore, up 11%
— Maintained a healthy EBITDA of Rs 634 crore; in a declining TC/RCs market, offset with higher realisation from Sulphuric Acid
— Copper Tubes project progresses to commissioning phase
— Construction of copper recycling project progressing on schedule
Management speak
Commenting on company’s Q2 earnings, Managing Director Satish Pai said that Hindaloco continued its growth momentum amid global volatility, delivering strong performance in both volumes and profitability. “This performance was driven by robust contribution from India business, disciplined cost management and operational efficiencies across segments,” he said.
“Our integrated business model, prudent capital allocation and focus on cost optimisation, continues to enable us to deliver sustained, resilient growth across market cycles. Our sustainability agenda remains focused on climate action, circularity through waste recycling, water stewardship and biodiversity protection,” Pai said.