Hindustan Copper Reports Near-Doubling of Net Profit to ₹920.67 Crore in FY26; Board Recommends Final Dividend of ₹1.86 Per Share

Hindustan Copper Limited, a Government of India enterprise, reported a near-doubling of its standalone net profit for the year ended 31st March 2026, driven by a significant surge in revenue from operations. The Board of Directors approved the audited standalone and consolidated financial results at its meeting held on 15th May 2026, and recommended a final dividend along with capital-raising proposals for shareholder consideration.

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, including other income of ₹71.75 crore, 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 exceptional item and total tax expense of ₹312.06 crore, standalone net profit for FY26 stood at ₹920.67 crore versus ₹468.53 crore in FY25.

The following table summarises the key standalone financial metrics:

Metric: FY26 (Audited) FY25 (Audited) Revenue from Operations: ₹3077.92 crore ₹2070.96 crore Other Income: ₹71.75 crore ₹78.33 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 Items: ₹95.75 crore — Profit Before Tax: ₹1232.73 crore ₹633.51 crore Net Profit (after tax): ₹920.67 crore ₹468.53 crore Basic EPS (₹): 9.52 4.85 Diluted EPS (₹): 9.52 4.85

Quarterly Standalone Highlights

For the quarter ended 31st March 2026, standalone revenue from operations was ₹1156.08 crore, compared to ₹731.40 crore in the corresponding quarter of the previous year and ₹687.34 crore in the quarter ended 31st December 2025. Net profit for the quarter stood at ₹444.06 crore against ₹190.54 crore in Q4 FY25. Basic and diluted EPS for the quarter were ₹4.59 compared to ₹1.97 in Q4 FY25.

Consolidated Financial Performance

On a consolidated basis, which includes subsidiary Chhattisgarh Copper Limited and joint venture Khanij Bidesh India Limited (KABIL), revenue from operations for FY26 was ₹3077.92 crore, in line with the standalone figure. 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.

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.

Balance Sheet Metric: 31st Mar 2026 31st Mar 2025 Total Assets: ₹4421.18 crore ₹3504.17 crore Total Equity: ₹3347.71 crore ₹2664.30 crore Cash & Cash Equivalents: ₹395.85 crore ₹17.50 crore Non-Current Borrowings: ₹37.49 crore ₹108.97 crore Current Borrowings: ₹72.42 crore ₹57.50 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 the following capital-raising measures:

Non-Convertible Debentures/Bonds: Issue of secured or unsecured non-convertible debentures or bonds on private placement basis up to ₹500 crore.

Qualified Institutional Placement (QIP): Issue of equity shares through QIP to the extent of 9,69,76,680 equity shares in one or more tranches, for funding capex/expansion plans approved by CCEA.

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/reconciliation of trade payables and advances. Additionally, the auditors noted that the company does not have Independent Directors as required under the Companies Act, 2013, resulting in no valid Audit Committee meeting being held since 3rd November 2024, and that the company has not had a Woman Director since 22nd March 2025. These observations did not result in a modification of the audit opinion. The company has provisionally provided approximately ₹1.77 crore as at 31st March 2026 on account of pending Labour Code rules, with the final impact yet to be assessed.

Hindustan Copper Limited has announced that Shri Ghanshyam Das Gupta, Executive Director (ED) & Unit Head, Khetri Copper Complex, assumed charge as Additional Director-Director (Mining) on its Board on 14.05.2026 (F/N). This follows the Ministry of Mines Order No. Met3-10/1/2025-METAL III dated 08.05.2026, and is in continuation of the company's earlier intimation to stock exchanges dated 10.05.2026, submitted pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointment Details

The appointment was made in terms of Article 70(1) of the Articles of Association of Hindustan Copper Limited, a Miniratna Central Public Sector Enterprise under the Ministry of Mines. Shri Ghanshyam Das Gupta formally submitted his joining report at HCL Corporate Office on 14.05.2026, referencing the Ministry of Mines order, HCL Corporate Office Order no. Estt/2/5899 dated 11.05.2026, and KCC's release order dated 13.05.2026.

The key parameters of the appointment are summarised below:

Parameter: Details Appointee: Shri Ghanshyam Das Gupta Previous Designation: Executive Director (ED) & Unit Head, Khetri Copper Complex, HCL New Designation: Additional Director-Director (Mining), Board of Hindustan Copper Limited Appointing Authority: Ministry of Mines, Government of India Order Number: Met3-10/1/2025-METAL III Order Date: 8th May, 2026 Date of Assumption of Charge: 14.05.2026 Tenure End: 30.09.2030 (superannuation) or until further orders, whichever is earlier Scale of Pay: Rs. 1,80,000-3,40,000/-

Consequent upon Shri Ghanshyam Das Gupta's joining as Additional Director-Director (Mining), Shri Sanjeev Kumar Sinha has ceased to hold the Additional Charge of the post of Director (Mining), HCL. Shri Sinha will continue to hold the post of Director (Operations), HCL.

Regulatory Disclosure

As per confirmation received from Shri Ghanshyam Das Gupta, he is not related to any of the Members of the Board of Directors or Key Managerial Personnel of the Company or their relatives. He is also not debarred from holding the office of Director by virtue of any SEBI order or any other such authority. The intimation was signed and submitted by Mritunjay Kumar Dev, Company Secretary and Compliance Officer of Hindustan Copper Limited, on 14.05.2026. The detailed terms and conditions of the appointment are to be issued separately by the Ministry of Mines.

Profile of Shri Ghanshyam Das Gupta

Shri Ghanshyam Das Gupta is a B. Tech graduate from NIT Surathkal and holds a 1st Class Mines Manager Certificate of Competency (FCC), with 31 years of domestic and international experience in the mining industry. He is recognised as a turnaround specialist, with a proven track record in underground metal mining, gold and copper mining, and open cast mining operations in India and abroad.

His key achievements and contributions include:

Strategic Turnaround at MCP: Revived the Malanjikhan Copper Project (MCP) during its difficult transition to underground mining, resolving a 3-year statutory deadlock through an engineering plan to connect mine outlets and securing essential clearances under the Mines Act.

Operational Scale-up: Accelerated MCP's mine development from zero to 1,000 meters/month and commenced production while the underground project was still under construction.

Record Profitability: Led the Khetri Copper Complex (KCC) to record profits by executing the Kolihan Mine Capex Project.

Global Innovation: In Saudi Arabia, redesigned Overburden waste relocation to significantly reduce lead distances and costs, enhancing the reputation of Indian engineers globally.

Environmental & Safety Leadership: Earned the 5-Star Rating Award from the Ministry of Mines and the National Safety Award from the Ministry of Labour & Employment; achieved Zero Water Discharge and planted 3 lakh saplings. He also serves as a Member of the Review Committee of Draft Metalliferous Mines Regulations 2025, framed under the Occupational Safety, Health, & Working Conditions (OSH & WC) Code 2020.

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