Hindustan Copper FY26 Net Profit Doubles to ₹920.67 Crore

Hindustan Copper Limited reported a standalone net profit of ₹920.67 crore for the year ended 31st March 2026, nearly doubling from ₹468.53 crore in the previous year. The company also posted strong Q4 standalone results, with net profit rising to ₹444.06 crore compared to ₹190.54 crore in the same quarter of the previous year. Revenue from operations for the full year rose to ₹3077.92 crore from ₹2070.96 crore, reflecting robust operational momentum. The Board of Directors approved the audited standalone and consolidated financial results at its meeting held on 15th May 2026. Subsequently, the company reported a revision to the Statement of Standalone Cash Flow Statement due to a printing error in the previous year's closing cash balance.

Q4 Standalone Performance

Hindustan Copper's Q4 standalone results reflected a sharp improvement across key financial metrics. Revenue for the quarter came in at ₹1156.08 crore versus ₹731.40 crore in the year-ago period, underscoring strong top-line growth. EBITDA margin expanded significantly to 54.24% from 36.53% in the same period last year. Total income for Q4 stood at ₹1188.76 crore compared to ₹778.34 crore in the corresponding quarter of the previous year.

Metric: Q4 FY26 Q4 FY25 Revenue from Operations: ₹1156.08 crore ₹731.40 crore Other Income: ₹32.68 crore ₹46.94 crore Total Income: ₹1188.76 crore ₹778.34 crore Total Expenses: ₹596.55 crore ₹518.75 crore Profit Before Tax: ₹592.21 crore ₹259.59 crore Net Profit (after tax): ₹444.06 crore ₹190.54 crore Basic EPS (₹): 4.59 1.97 EBITDA Margin: 54.24% 36.53%

Standalone Financial Performance

The company's standalone revenue from operations rose to ₹3077.92 crore in FY26 from ₹2070.96 crore in FY25. Total income stood at ₹3149.67 crore compared to ₹2149.29 crore in the prior year. Profit before exceptional items and tax reached ₹1328.48 crore, up from ₹633.51 crore in FY25. An exceptional item of ₹95.75 crore was recorded during the quarter ended 31st December 2025, representing a one-time provision for a Post-Retirement Medical Scheme (PRMS) based on actuarial valuation. After accounting for this and tax expenses, the net profit for FY26 stood at ₹920.67 crore. The company has provisionally provided approximately ₹1.77 crore as at 31st March 2026 on account of pending Labour Code rules.

Metric: FY26 (Audited) FY25 (Audited) Revenue from Operations: ₹3077.92 crore ₹2070.96 crore Total Income: ₹3149.67 crore ₹2149.29 crore Total Expenses: ₹1821.19 crore ₹1515.78 crore Profit Before Exceptional Items & Tax: ₹1328.48 crore ₹633.51 crore Exceptional Item (PRMS Provision): ₹95.75 crore — Net Profit (after tax): ₹920.67 crore ₹468.53 crore Basic EPS (₹): 9.52 4.85 Total Comprehensive Income: ₹921.30 crore ₹467.98 crore

Consolidated Performance

On a consolidated basis, revenue from operations for FY26 was ₹3077.92 crore, with total income at ₹3149.67 crore. Consolidated net profit after tax and share of profit/(loss) of joint venture/associate was ₹918.54 crore for FY26, compared to ₹465.11 crore in FY25. Total comprehensive income on a consolidated basis was ₹919.17 crore for FY26 against ₹464.56 crore in FY25. Consolidated basic and diluted EPS for continuing operations stood at ₹9.50 for FY26 versus ₹4.81 in FY25. The consolidated results include the holding company, subsidiary Chhattisgarh Copper Limited, and joint venture Khanij Bidesh India Limited (KABIL), in which Hindustan Copper holds 30% equity.

Metric: FY26 (Audited) FY25 (Audited) Revenue from Operations: ₹3077.92 crore ₹2070.96 crore Net Profit after tax & JV Share: ₹918.54 crore ₹465.11 crore Total Comprehensive Income: ₹919.17 crore ₹464.56 crore Basic & Diluted EPS (₹): 9.50 4.81

Balance Sheet and Cash Position

The standalone balance sheet reflects total assets of ₹4421.18 crore as at 31st March 2026, up from ₹3504.17 crore as at 31st March 2025. Total equity increased to ₹3347.71 crore from ₹2664.30 crore. Cash and cash equivalents rose substantially to ₹395.85 crore from ₹17.50 crore, while bank balances other than cash equivalents stood at ₹413.79 crore versus ₹50.59 crore in the prior year. Net cash from operating activities for FY26 was ₹1473.57 crore compared to ₹544.31 crore in FY25. On a consolidated basis, total assets stood at ₹4415.68 crore as at 31st March 2026, with total equity at ₹3342.20 crore.

Balance Sheet Metric: 31st Mar 2026 31st Mar 2025 Total Assets (Standalone): ₹4421.18 crore ₹3504.17 crore Total Equity (Standalone): ₹3347.71 crore ₹2664.30 crore Cash & Cash Equivalents: ₹395.85 crore ₹17.50 crore Bank Balances (other than cash): ₹413.79 crore ₹50.59 crore Non-Current Borrowings: ₹37.49 crore ₹108.97 crore Current Borrowings: ₹72.42 crore ₹57.50 crore Net Cash from Operating Activities: ₹1473.57 crore ₹544.31 crore

Revised Cash Flow Statement

The company filed a revised Statement of Standalone Cash Flow Statement for the year ended 31st March 2026. The revision addresses an inadvertent printing error in Annexure-A, where the figure for 'Cash & Cash Equivalent- at the end of the year' for the previous year (31.03.2025) was printed as ₹89.85 crore instead of ₹79.52 crore. The opening balance for the current year was correctly stated as ₹79.52 crore. Consequently, the closing cash and cash equivalents for FY26 are reported as ₹820.22 crore. There is no change in the profitability of the company due to this correction.

Cash Flow Metric: FY26 (Audited) FY25 (Audited) Net Cash from Operating Activities: ₹1473.57 crore ₹544.31 crore Net Cash from Investing Activities: ₹(433.52) crore ₹(402.36) crore Net Cash from Financing Activities: ₹(299.35) crore ₹(152.28) crore Net Increase in Cash & Cash Equivalents: ₹740.70 crore ₹(10.33) crore Cash & Cash Equivalents - Opening: ₹79.52 crore ₹89.85 crore Cash & Cash Equivalents - Closing: ₹820.22 crore ₹79.52 crore

Dividend and Capital-Raising Proposals

The Board recommended a final dividend of ₹1.86 per equity share on face value of ₹5 per share for FY26, subject to shareholder approval at the forthcoming Annual General Meeting (AGM). This is in addition to an interim dividend of ₹1.00 per share already paid on 5th March 2026. The Board also recommended seeking shareholder approval for raising funds via Non-Convertible Debentures/Bonds up to ₹500 crore on a private placement basis, and a Qualified Institutional Placement (QIP) of up to 9,69,76,680 equity shares in one or more tranches, to fund capital expenditure and expansion plans approved by the Cabinet Committee on Economic Affairs (CCEA).

Proposal: Details Final Dividend: ₹1.86 per share (face value ₹5) Interim Dividend (already paid): ₹1.00 per share (paid 5th March 2026) NCD/Bond Issuance (proposed): Up to ₹500 crore (private placement) QIP (proposed): Up to 9,69,76,680 equity shares

Auditor Observations

The standalone and consolidated financial results carry an unmodified audit opinion from P.A. & Associates, Chartered Accountants (FRN: 313085E). The auditors drew attention to several emphasis of matter points, including provisional revenue recognition pending actual ASSAY reports, pending execution of lease deeds for Gujarat Copper Project (GCP) land with a gross carrying value of ₹48.20 crore, ongoing arbitration and legal proceedings, and pending confirmation of trade payables. The auditors also noted the absence of Independent Directors — resulting in no valid Audit Committee meeting being held since 3rd November 2024 — and the absence of a Woman Director since 22nd March 2025, both constituting non-compliance with the Companies Act, 2013. The audit opinion on both standalone and consolidated financial results is not modified in respect of these matters.

Hindustan Copper has filed a progress update with stock exchanges under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, detailing significant advancements in its collaboration with Corporacion Nacional Del Cobre De Chile (Codelco), the Chilean state-owned copper mining giant. The update, informed to the Board of Directors in its meeting held on May 15, 2026, marks a meaningful progression from the initial cooperation agreement announced earlier.

NDA Executed and Transaction Advisor Engaged

Hindustan Copper has formally executed a Non-Disclosure and Confidentiality Agreement (NDA) with Codelco, formalizing the framework for information exchange and cooperation between the two entities. In parallel, the company has engaged a transaction advisor to facilitate its entry into the Chilean mining sector and support further acquisition activities. These steps reflect a structured approach to evaluating and potentially securing copper mining assets in Chile, one of the world's largest copper-producing nations.

The key developments reported in the filing are summarized below:

Development: Details Agreement Type: Non-Disclosure and Confidentiality Agreement (NDA) Partner: Codelco (Corporacion Nacional Del Cobre De Chile) Collaboration Region: Chile Transaction Advisor: Engaged for Chilean mining sector entry and acquisition Site Visits: Exploration sites visited from April 20–30, 2026 Site Study: Copper blocks assessed by HCL team and MOU partners Regulatory Filing: Regulation 30, SEBI (LODR) Regulations, 2015

Site Study of Chilean Copper Blocks

In a significant operational milestone, a team from Hindustan Copper, along with representatives from its MOU partners, visited several exploration sites in Chile between April 20 and April 30, 2026, to conduct a site study of copper blocks. This on-ground assessment is a critical step in evaluating the viability of potential mining assets ahead of any formal acquisition or partnership agreement. The company has noted that work in this regard remains under progress, indicating that the evaluation and engagement process is ongoing.

Regulatory Disclosure and Background

The progress update was filed in continuation of the company's earlier letter dated April 2, 2025, which had announced the initial cooperation and information exchange agreement with Codelco. The latest disclosure, signed by Company Secretary and Compliance Officer Mritunjay Kumar Dev, underscores Hindustan Copper's commitment to transparency with its stakeholders as it advances its international mining strategy. The company's efforts to expand into overseas copper mining markets represent a broader strategic objective to diversify its resource base beyond domestic operations.

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