Hindustan Copper logo

Hindustan Copper

HINDCOPPER NSE

Key Fundamentals

MidcapCopperMetals & Mining
Market Cap
₹49,110 Cr
Volatility
Moderate
P/E Ratio
43.68
EBITDA
₹1,534 Cr
Return on Equity
27.55%
Debt to Equity
0.03
Book Value
₹34.56
EPS
₹3.74
52W High
₹760.05
52W Low
₹243.75

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

6
  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 55.2% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 30.1%
  • Debtor days have improved from 25.0 to 15.8 days.

Weaknesses

1
  • Stock is trading at 14.9 times its book value

Growth Rate

Revenue Growth
46.62% higher than 3Y
Net Income Growth
96.98% higher than 3Y
Cash Flow Change
171% lower than 3Y
ROE
56.8% higher than 3Y
ROCE
62.94% lower than 3Y
EBITDA Margin (Avg.)
28.39% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk high

Hindustan Copper Ltd, India's sole vertically integrated copper mining company, trades at a market cap of ₹49,110 Cr with a PE of 44.9x and PB of 15.26x. The company has delivered 55% CAGR profit growth over five years and 33% ROE in the last year, while remaining virtually debt-free, but its valuation multiples remain significantly elevated relative to earnings and book value.

Bull Case 8
  • Compounded profit growth of 55% CAGR over the last 5 years demonstrates strong earnings momentum
  • TTM sales growth of 67% indicates a sharp acceleration in revenue generation
  • TTM profit growth of 147% shows significant operating leverage kicking in on higher volumes and copper prices
  • Last year ROE of 33% is well above the 10-year average of 12%, reflecting improved capital efficiency
  • Company is virtually debt-free, reducing financial risk and interest burden in a capital-intensive mining sector
  • Debtor days improved from 25.0 to 15.8 days, signalling better working capital management and faster collections
  • Healthy dividend payout ratio of 30.1% with a current yield of 0.54%, providing some return to shareholders even during expansion phases
  • Being India's only integrated copper miner, the company is a direct beneficiary of rising domestic copper demand driven by EVs, renewables, and infrastructure spending
Bear Case 8
  • PE ratio of 44.9x is significantly elevated for a metals and mining company, pricing in substantial future growth
  • Price-to-book of 15.26x means investors are paying over 15 times the net asset value, leaving limited margin of safety
  • Stock CAGR of 112% over 1 year has far outpaced the 67% TTM sales growth and 147% profit growth, suggesting momentum-driven pricing
  • 3-year compounded sales growth of only 22% is modest for a company trading at nearly 45x earnings, raising questions about sustainable top-line expansion
  • 10-year sales CAGR of just 11% highlights the historically slow volume ramp-up typical of government-owned mining operations
  • Dividend yield of only 0.54% offers minimal income cushion against potential capital depreciation at current elevated valuations
  • As a PSU with government ownership, capital allocation decisions, expansion timelines, and operational efficiency may be subject to bureaucratic delays and policy shifts
  • Copper is a globally traded cyclical commodity — any slowdown in global demand or a fall in LME copper prices would directly compress margins despite domestic positioning

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Headwinds 5
  • BSE/NSE compliance penalty Aug 26

    Hindustan Copper fined a combined ₹28.86 lakh by BSE and NSE for board composition non-compliance under SEBI LODR regulations regarding director appointments and committee constitution.

  • Metal sector sell-off pressure Sep 1

    Stock declined 2.5% to ₹520.20 on Aug 31 as Nifty Metal index fell over 2%, driven by hawkish US Fed comments that pushed rate hike probability to 57% from 36%.

  • Copper price volatility risk Sep 1

    Earnings are closely tied to global copper prices, and commodity-cycle risks from global growth slowdowns could impact demand. LME copper was down ~0.30% for the week despite elevated levels.

  • ₹7,189 crore capex execution risk Sep 1

    Five-year expansion plan requires tripling ore capacity from 4.21 MTPA to 12.20 MTPA by FY30/31, posing significant execution and cost overrun risks.

  • OFS supply overhang Aug 25

    Government exercising full 3% green shoe takes total stake sale to 6% of equity. Historical precedent shows the 2021 OFS triggered a 5.38% stock decline on offer day.

Positives 7
  • Blockbuster Q1 FY27 results Aug 18

    Revenue jumped 82% YoY to ₹937 crore, PBT surged 163% to ₹472 crore, and PAT rose 163% to ₹353 crore. Company also declared ₹276.6 crore dividend for FY26.

  • Copper prices near all-time highs Aug 17

    LME copper spot hit an all-time high of $14,594/tonne on Aug 17, up 46.3% YoY. Demand driven by data centres, EVs, and renewable energy continues to tighten supply.

  • Massive expansion plan announced Aug 19

    Over ₹7,000 crore capex planned over 5-6 years for mine revival, exploration, and overseas acquisitions. Company added 135.52 million tonnes of ore reserves in the past three years.

  • CODELCO partnership and MoUs signed Aug 17

    Collaboration with Chile's state-owned CODELCO for technical cooperation, plus MoUs with RITES, IOC, Coal India, Oil India, and GAIL to expand mining footprint.

  • OFS retail oversubscribed 7x Sep 1

    Government OFS retail portion was subscribed more than seven times, indicating strong investor confidence. Floor price set at ₹514, a 10.48% discount to market price of ₹574.

  • Analyst target of ₹650-700 Sep 1

    Market expert Nilesh Jain recommends accumulating with a 1-year target of ₹650-700. Technical analyst Virat Jagad has a buy target of ₹655 with stop-loss at ₹515.

  • Strong long-term return track record Sep 1

    Stock has delivered 133% gains over 3 years and 381% over 5 years. India's per capita copper consumption at 0.6 kg vs global average of 3.2 kg offers significant growth runway.

Neutral 3
  • FY26 annual report filed Aug 27

    Hindustan Copper submitted its FY26 Annual Report and BRSR report to BSE and NSE on August 27, covering environmental metrics, safety data, and CSR initiatives.

  • AGM scheduled, ₹1.86 dividend proposed Aug 25

    59th AGM set for September 23, 2026 with a proposed dividend of ₹1.86 per share for FY26. Remote e-voting opens September 20.

  • Govt OFS at ₹514 floor price Aug 25

    Government selling up to 6% stake via OFS with floor price of ₹514/share. Base offer of 2.90 crore shares for non-retail investors, with bidding opened August 25. Estimated proceeds ~₹3,000 crore.

TL;DR: Hindustan Copper is firing on all cylinders operationally with Q1 FY27 revenue up 82% and PAT up 163%, supported by copper prices near all-time highs and structural demand from EVs, data centres, and electrification. The ₹7,000+ crore expansion plan to triple ore capacity by FY31 and the CODELCO partnership signal long-term ambition, though execution risk on this scale is material. Key risks include copper price cyclicality, a minor SEBI compliance penalty, and near-term supply overhang from the government's 6% OFS. The trend is decisively positive with strong fundamentals and favourable commodity tailwinds, but investors should monitor global rate decisions and capex execution milestones closely.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
371
381
399
565
494
518
328
731
516
718
687
1,156
936
Expenses
278
260
293
340
305
366
220
465
304
436
347
528
429
Operating Profit
93
121
107
226
188
152
108
267
212
282
340
628
508
OPM %
25%
32%
27%
40%
38%
29%
33%
36%
41%
39%
50%
54%
54%
Other Income
14
11
10
20
7
32
16
47
10
11
-78
33
17
Interest
4
4
4
4
3
1
1
2
2
0
2
1
3
Depreciation
41
46
30
59
38
48
38
52
41
44
48
67
50
PBT
62
83
82
183
154
135
84
260
179
249
213
592
472
Tax %
24%
27%
23%
32%
26%
25%
26%
27%
25%
25%
26%
25%
25%
Net Profit
47
61
63
124
113
102
63
191
134
186
156
444
353
EPS in Rs
0.49
0.63
0.65
1.29
1.17
1.05
0.65
1.97
1.39
1.92
1.62
4.59
3.65
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,016
1,072
1,204
1,670
1,816
832
1,787
1,822
1,677
1,717
2,071
3,078
3,498
Expenses
888
962
981
1,399
1,310
1,074
1,376
1,310
1,185
1,170
1,332
1,615
1,740
Operating Profit
128
110
223
271
506
-242
411
512
492
547
738
1,463
1,758
OPM %
13%
10%
18%
16%
28%
-29%
23%
28%
29%
32%
36%
48%
50%
Other Income
67
52
27
41
37
57
35
50
96
54
78
-24
-17
Interest
1
3
14
26
60
62
64
30
17
17
8
6
6
Depreciation
113
119
142
165
253
291
295
150
175
175
176
200
209
PBT
80
40
94
122
230
-538
87
382
396
410
634
1,233
1,525
Tax %
16%
5%
34%
35%
37%
6%
-26%
2%
25%
28%
26%
25%
—
Net Profit
68
38
62
80
146
-569
110
374
295
295
469
921
1,139
EPS in Rs
0.73
0.41
0.67
0.86
1.57
-6.15
1.19
3.87
3.05
3.05
4.85
9.52
11.78
Div. Payout %
21%
0%
30%
29%
33%
0%
29%
30%
30%
30%
30%
30%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
463
463
463
463
463
463
463
484
484
484
484
484
Reserves
1,399
948
1,004
1,065
1,174
498
627
1,428
1,599
1,802
2,181
2,864
Borrowings
0
207
472
657
1,070
1,564
1,137
409
156
223
167
111
Other Liabilities
371
1,181
597
630
636
802
819
844
956
971
880
1,179
Total Liabilities
2,233
2,799
2,536
2,814
3,344
3,326
3,046
3,164
3,194
3,479
3,711
4,638
Fixed Assets
202
178
354
332
316
337
322
282
1,326
1,430
1,731
1,922
CWIP
851
733
279
660
1,022
1,232
1,179
683
731
917
766
741
Investments
71
76
0
0
0
0
1
1
10
29
31
31
Other Assets
1,108
1,812
1,903
1,822
2,005
1,757
1,544
2,199
1,127
1,102
1,183
1,944
Total Assets
2,233
2,799
2,536
2,814
3,344
3,326
3,046
3,164
3,194
3,479
3,711
4,638
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
237
262
-260
372
252
86
832
1,052
674
341
544
1,474
Investing
-209
-451
-258
-558
-587
-430
-364
-404
-337
-525
-402
-434
Financing
-109
183
-8
-96
445
42
133
-251
-339
-39
-152
-299
Net Cash Flow
-80
-7
-526
-282
110
-302
601
397
-3
-222
-10
741
Free Cash Flow
82
-29
-352
-25
-147
-135
629
829
574
-193
132
1,019
CFO/OP
238
253
-109
141
61
-54
202
225
153
82
95
118
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
31
20
50
18
73
36
34
16
14
29
30
16
Inventory Days
—
—
—
737
1,189
—
413
—
—
—
—
—
Days Payable
—
—
—
204
358
—
147
—
—
—
—
—
Cash Conversion Cycle
31
20
50
550
903
36
301
16
14
29
30
16
Working Capital Days
178
137
162
23
69
-96
18
-19
-29
35
56
-2
ROCE %
4%
2%
6%
7%
12%
-18%
6%
18%
18%
18%
24%
42%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others3.28%Promot.66.14%DIIs4.84%FIIs5.96%Public19.78%As ofJun 2026

Documents

Frequently Asked Questions about Hindustan Copper

What does Hindustan Copper Ltd do?
Incorporated in the year 1967, Hindustan Copper Limited (HCL) was formed to take over from National Mineral Development Corporation Ltd. It is the first Indian PSU and only vertically integrated copper producing company. HCL is engaged in various processes right from copper mining to the final st...
Where is Hindustan Copper Ltd (HINDCOPPER) listed?
Hindustan Copper Ltd trades as HINDCOPPER on the NSE and under code 513599 on the BSE.
Which sector does Hindustan Copper Ltd belong to?
Hindustan Copper Ltd is classified under the Metals & Mining sector, in the Copper industry.
What is the market capitalisation of Hindustan Copper Ltd?
Hindustan Copper Ltd has a market capitalisation of ₹49,110 Cr, which places it in the Large Cap band.
What is the PE ratio of Hindustan Copper Ltd?
Hindustan Copper Ltd trades at a PE ratio of 43.68, on earnings per share of ₹3.74, against a book value of ₹34.56 per share.
What is the 52-week high and low of Hindustan Copper Ltd?
Over the last 52 weeks Hindustan Copper Ltd has traded between ₹243.75 and ₹760.05.
Does Hindustan Copper Ltd pay dividends?
Hindustan Copper Ltd has a dividend yield of 0.54%.
What is the Return on Equity (ROE) of Hindustan Copper Ltd?
Hindustan Copper Ltd reported a return on equity of 27.55%. Its debt-to-equity ratio is 0.03.

Company Information

Incorporated in the year 1967, Hindustan Copper Limited (HCL) was formed to take over from National Mineral Development Corporation Ltd. It is the first Indian PSU and only vertically integrated copper producing company. HCL is engaged in various processes right from copper mining to the final stage of converting copper into saleable products. [1]

Website hindustancopper.com
CEO Mr. Sanjiv Kumar Singh
Employees 1,274
Listed 2010-09-15
Face Value ₹ 5
Issued Size 96,70,24,020

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