Hindalco Industries

Hindalco Industries Limited is an Indian metals company headquartered in Mumbai and a member of the Aditya Birla Group. Its principal businesses are aluminium and copper, spanning raw-material processing, alumina refining, aluminium smelting, rolled products, recycling, and downstream metal solutions. The company serves industrial customers in sectors including packaging, transportation, construction, electrical equipment, consumer products, and aerospace. The business was established in 1958 as Hindustan Aluminium Corporation Limited. Production began at Renukoot in Uttar Pradesh in 1962, initially with annual capacity of approximately 20,000 metric tons of aluminium and 40,000 metric tons of alumina. The company was reorganized and renamed Hindalco in 1989. Its Indian operating footprint subsequently expanded through additional mining, refining, smelting, fabrication, and captive-power assets. These include the Renusagar, Hirakud, Utkal Alumina, Aditya, and Mahan power facilities, which support energy-intensive aluminium operations. Hindalco strengthened its domestic position through the 2000 acquisition of a controlling interest in Indian Aluminium Company Limited, commonly known as Indal. It also developed interests in the Utkal Alumina project in Odisha. The company’s most consequential international step was the 2007 acquisition of Novelis, a major producer of rolled aluminium and recycled aluminium products. The transaction made the combined group one of the world’s largest rolled-aluminium producers and gave Hindalco a substantial presence in North America, Europe, and other international markets. Novelis continues to operate as a separately managed subsidiary headquartered in Atlanta, Georgia. Through Novelis, Hindalco expanded into higher-value rolled products and recycling, including aluminium beverage-can sheet, automotive materials, packaging foil stock, and aerospace-related products. Novelis’s acquisition of Aleris in 2020 further broadened the group’s capabilities in rolled aluminium and strengthened its position in transportation and aerospace applications. Hindalco also remains a significant Indian producer of primary aluminium, alumina, and copper. Its integrated model connects captive power and raw-material processing with smelting and downstream manufacturing. The group has increasingly emphasized renewable electricity, resource efficiency, recycling, and lower-carbon production. In 2024 it announced an investment in Ayana Renewable Power Four to support renewable power supply for an Odisha smelter. In 2026, the company signed a memorandum of understanding with Embraer to examine potential sources of aerospace-grade aluminium manufacturing in India; the agreement was exploratory rather than a confirmed production launch. Hindalco is listed on the Bombay Stock Exchange and the National Stock Exchange of India, with global depositary receipts historically listed in Luxembourg. It is controlled by the Aditya Birla Group and is positioned as an integrated, globally diversified aluminium and copper producer rather than solely as a commodity smelter.

Hindalco was established in 1958 by the Aditya Birla Group under the name Hindustan Aluminium Corporation Limited. The company began commercial production at Renukoot in Uttar Pradesh in 1962, producing alumina and aluminium at an initial annual capacity of approximately 40,000 metric tons of alumina and 20,000 metric tons of aluminium. Renukoot became the foundation of Hindalco’s integrated Indian aluminium business. In 1989, the company was reorganized and adopted the Hindalco name. During the following decades it broadened its Indian asset base through mining, alumina refining, aluminium smelting, downstream processing, and dedicated power generation. Its captive-power network includes facilities associated with Renukoot, Hirakud, Utkal Alumina, Aditya, and Mahan. These assets were developed to support the substantial electricity requirements of alumina refining and aluminium smelting. Hindalco entered a major phase of domestic consolidation in June 2000 when it acquired a controlling 74.6% interest in Indian Aluminium Company Limited, or Indal. The transaction strengthened Hindalco’s position across India’s aluminium value chain. In 2007 the company also announced plans to acquire Alcan’s interest in the Utkal Alumina project in Odisha, adding to its refining and raw-material platform. The defining international event in Hindalco’s history was its agreement in February 2007 to acquire Novelis for approximately US$6 billion. The transaction closed in May of that year and was structured through Hindalco subsidiaries that acquired all outstanding Novelis common shares. Novelis was already a leading global producer of rolled aluminium and a major recycler of used aluminium beverage cans. Its integration made the combined group one of the largest rolled-aluminium producers in the world and represented one of the largest overseas investments by an Indian company at that time. Hindalco’s share price fell sharply immediately after the announcement as investors questioned the purchase price, while the group defended the premium as necessary to acquire a global market leader. Novelis retained its own leadership and remained headquartered in Atlanta, Georgia, while operating as a wholly owned subsidiary. Its international network gave Hindalco substantial exposure to customers outside India and shifted the group toward higher-value, downstream products. Novelis’s 2020 acquisition of Aleris expanded its capabilities in aerospace, automotive, and other rolled-aluminium markets at an enterprise value reported in the reference material as US$2.8 billion. In the 2020s, Hindalco continued investing in operating integration, downstream products, recycling, and lower-carbon electricity. In 2024 it announced a 26% investment in Ayana Renewable Power Four, intended to support 100 MW of renewable power for an Odisha smelter. In February 2026 it signed an exploratory memorandum with Embraer concerning possible aerospace-grade aluminium manufacturing in India. Hindalco remains an Aditya Birla Group company with listed shares in India and an international operating profile anchored by Novelis.

1. 2026Exploration of aerospace-grade aluminium

   Hindalco and Embraer signed an MoU to assess potential aerospace-grade aluminium manufacturing in India.

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2. 2024Renewable-power investment announced

   Hindalco announced a 26% investment in Ayana Renewable Power Four to support renewable power for an Odisha smelter.

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3. 2020Aleris acquired by Novelis

   Novelis completed its acquisition of Aleris, extending the group’s presence in aerospace and automotive rolled aluminium.

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4. 2007Novelis acquisition completed

   Hindalco completed its approximately US$6 billion acquisition of Novelis, establishing a major global rolled-aluminium platform.

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5. 2000Controlling stake acquired in Indal

   Hindalco acquired a 74.6% controlling interest in Indian Aluminium Company Limited.

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6. 1989Renamed Hindalco

   The company was restructured and adopted the Hindalco name.

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7. 1962Renukoot production begins

   The company began producing alumina and aluminium at Renukoot in Uttar Pradesh.

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8. 1958Company established

   The Aditya Birla Group established Hindustan Aluminium Corporation Limited, the predecessor of Hindalco Industries.

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An integrated Indian aluminium and copper producer with a global downstream platform through Novelis, combining primary-metal production, rolled products, recycling, and industrial materials.

• Primary aluminiumAluminium

  Hindalco produces primary aluminium through an integrated Indian network covering alumina refining, smelting, captive power, and downstream processing. The metal serves industrial markets such as transportation, construction, electrical equipment, packaging, and consumer products.

• AluminaAluminium raw materials

  Alumina is produced as an intermediate material for aluminium smelting and is a central part of Hindalco’s integrated value chain. The company’s refining operations include the Utkal Alumina platform in Odisha and other facilities linked to its Indian production system.

• Rolled aluminium productsDownstream aluminium2007

  Through Novelis, Hindalco supplies rolled aluminium sheet, plate, and related materials for beverage cans, food and pharmaceutical packaging, automobiles, construction, industrial equipment, and aerospace. The portfolio emphasizes formed, coated, and application-specific products rather than only commodity metal.

• Recycled aluminiumRecycling

  Novelis operates large-scale aluminium recycling activities, including recovery and remelting of used beverage cans and other aluminium scrap. Recycling is strategically important because it reduces the energy intensity and environmental footprint associated with producing aluminium from primary raw materials.

• Copper productsCopper

  Hindalco’s copper business includes copper production and downstream products serving electrical, industrial, infrastructure, and manufacturing customers. Copper complements the company’s aluminium operations and gives the group a second major non-ferrous-metals platform.

• 2026Explore aerospace-grade aluminium manufacturingStrategy

  Hindalco and Embraer explored the possibility of developing aerospace-grade aluminium sources and manufacturing capabilities in India.

  What changed. The companies signed a memorandum of understanding to assess potential opportunities.

  Aftermath. The MoU established an exploratory framework; the reference material does not confirm a final investment or commercial production decision.

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• 2024Invest in renewable captive powerStrategy

  Aluminium smelting requires substantial electricity, and Hindalco sought to increase renewable power available to its Odisha operations.

  What changed. Hindalco announced the acquisition of a 26% interest in Ayana Renewable Power Four.

  Aftermath. The investment was intended to support 100 MW of renewable electricity for a Hindalco smelter in Odisha.

  Investment value. Rs 1.62 crore (2024 announcement)

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• 2020Novelis acquires AlerisM&A

  Novelis pursued additional scale and capabilities in rolled aluminium, particularly in aerospace, automotive, and other high-value transportation applications.

  What changed. Novelis completed the acquisition of Aleris Corporation.

  Aftermath. The transaction broadened Hindalco’s downstream portfolio and strengthened Novelis’s position in high-end rolled products.

  Enterprise value. US$2.8 billion (2020)

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• 2007Acquire NovelisM&A

  Hindalco sought to build a global downstream aluminium business and acquire Novelis, then a leading producer of rolled aluminium and recycler of aluminium cans.

  What changed. Hindalco agreed to acquire Novelis for approximately US$6 billion and completed the transaction in May 2007 through wholly owned subsidiaries.

  Aftermath. The transaction created one of the world’s largest rolled-aluminium producers and expanded Hindalco’s international customer and manufacturing base. Hindalco’s shares initially declined after the announcement amid investor concerns about valuation.

  Acquisition value. Approximately US$6 billion transaction (2007)

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• 2026Hindalco and Embraer explore aerospace-grade aluminium production

  Hindalco signed a memorandum of understanding with Embraer to assess potential sources and capabilities for aerospace-grade aluminium manufacturing in India.

  Product launch
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• 2024Hindalco invests in renewable captive power

  Hindalco announced the acquisition of a 26% interest in Ayana Renewable Power Four to support renewable electricity supply for its Odisha aluminium operations.

  M&A
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• 2020Novelis completes acquisition of Aleris

  Novelis acquired US-based rolled-aluminium producer Aleris, expanding Hindalco’s subsidiary in aerospace, automotive, and other high-value applications.

  M&A
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• 2007Hindalco agrees to acquire Novelis

  Hindalco announced an agreement to acquire Novelis for approximately US$6 billion, creating a combined group with major global rolled-aluminium operations.

  M&A
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• 2007Novelis acquisition completed

  The Novelis transaction closed in May 2007 after Novelis shareholders received consideration for their outstanding common shares.

  M&A
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1. Hindalco Industries