Aluminium and copper producer Hindalco has planned an ambitious growth roadmap, backed by 'committed global investments' worth $10 billion over next five years across its 'full value chain' both within India and through Novelis, Chairman Kumar Mangalam Birla said during the 66th AGM on August 21.
During the last fiscal, Hindalco has initiated projects worth Rs 18,000 crore in India which is the highest annual capex in almost a decade, Birla added.
"...(the) strategy is to strengthen both its upstream and downstream businesses, with the next phase focused on accelerated upstream expansion alongside continued downstream growth," the chairman said.
The Aditya Birla Group company's subsidiary Novelis has been working to commission the $4.1 billion Bay Minette project, expected in the second half of CY26. Novelis is also advancing its 3x30 Vision - in an effort to increase recycled content from 63 percent to 75 percent.
In the battery materials business, Hindalco's new battery foil plant will commence operations this year, in a major step towards energy storage for e-mobility and renewables.
Read More: Hindalco Q1 results: Net profit rises 30% to Rs 4,004 crore, revenue up 13%
On the downstream front, the Aditya Birla Group company has a target to quadruple EBITDA by FY30 compared to FY24 through the ramp up of new copper tubes plant and an e-waste recycling facility which will be India’s first and the world’s second largest.
Read More: Hindalco Industries – Execution, strategic expansion key growth levers
"...your Company is enhancing its portfolio of value-added products in aluminium, copper, specialty alumina, and recycling, with a clear target to quadruple downstream EBITDA by FY30 from the FY24 base. Our new copper tubes plant is ramping up, and construction is in full swing for India’s first and the world’s second-largest dedicated e-waste and copper recycling facility at Pakhajan," said Kumar Mangalam Birla.
On copper, KM Birla said Hindalco has undertaken a 3 lakh tonne smelter expansion at Dahej, which, once completed, will make it the world's 'largest' copper smelting complex outside China.
On aluminium, Hindalco has planned a 1.80 lakh TPA Aditya smelter expansion, a 3.60 lakh TPA Mahan smelter expansion, and a greenfield 8.50 lakh TPA alumina refinery, all substantial investments in smelting capacity.
Shares of Hindalco are higher by 19 percent on a YTD basis and are flat over last one year.
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