Hindalco Industries Limited an Indian

aluminium Aluminium (or aluminum in North American English) is a chemical element; it has chemical symbol, symbol Al and atomic number 13. It has a density lower than that of other common metals, about one-third that of steel. Aluminium has ...

and

copper Copper is a chemical element; it has symbol Cu (from Latin ) and atomic number 29. It is a soft, malleable, and ductile metal with very high thermal and electrical conductivity. A freshly exposed surface of pure copper has a pinkish-orang ...

manufacturing company, is a subsidiary of the

Aditya Birla Group Aditya Birla Group is an Indian multinational conglomerate headquartered in Mumbai. The group's business interests include metals, cement, fashion and retail, financial services, renewables, fibre, textiles, chemicals, real estate, trading, ...

. Its headquarters are at

Mumbai, Maharashtra Mumbai ( ; ), also known as Bombay ( ; its official name until 1995), is the capital city of the Indian state of Maharashtra. Mumbai is the financial capital and the most populous city proper of India with an estimated population of 12.5& ...

, India. The company is listed in the

Forbes Global 2000 The ''Forbes'' Global 2000 is an annual ranking of the top 2000 public companies in the world, published by: sales, profit, assets and market value. The list has been published annually since 2003. By country Forbes Global 2000 as of 2023: ...

(2023) at 661st rank. Its market capitalisation by the end of November 2023 was US$15.6 billion.

History

The Hindustan Aluminium Corporation Limited was established in 1958 by the Aditya Birla Group. In 1962 the company began production in Renukoot in

Uttar Pradesh Uttar Pradesh ( ; UP) is a States and union territories of India, state in North India, northern India. With over 241 million inhabitants, it is the List of states and union territories of India by population, most populated state in In ...

making 20 thousand metric tons per year of aluminium and 40 thousand metric tons per year of alumina. In 1989 the company was restructured and renamed Hindalco. Ramdev Singh was the first trade union leader of Hindalco Industries Limited, Renukoot.

Operations

Power plants

* Renusagar Power Plant. An 826.57 MW (10 generating units of various capacities) captive power plant which is about 40 km from Renukoot,

Sonebhadra district Sonbhadra (also known as Sonebhadra) or Sonanchal is the second largest district by area of Uttar Pradesh after Lakhimpur Kheri. The district headquarters is in the town of Robertsganj. Sonbhadra is also known as the "Energy Capital of India" ...

. *

Hirakud Captive Power Plant Hirakud Power Plant is a coal based captive thermal power plant located near Hirakud in Sambalpur district in the Indian state of Odisha. The power plant began commercial production in April 2013, is operated by the Hindalco Industries Hindal ...

. A 467.5 MW captive power plant located at

Hirakud Hirakud is a small township located in Sambalpur in Odisha. It was a Notified Area Council ( NAC) which was later included along with Burla in Sambalpur city to become a Municipal Corporation. This city is a hub of HINDALCO, an Indian alumin ...

Sambalpur District Sambalpur District is a district in the western part of state of Odisha, India. The historic city of Sambalpur is the district headquarters. The district is located in the Mahanadi River basin. It has a total area of , of which almost 60% is c ...

Odisha Odisha (), formerly Orissa (List of renamed places in India, the official name until 2011), is a States and union territories of India, state located in East India, Eastern India. It is the List of states and union territories of India by ar ...

. This plant supplies power to Hirakud smelter of Hindalco Industries. *Utkal Alumina Captive Power Plant. A 90 MW captive power plant located at Doraguda,

Rayagada District Rayagada district is a district in the southern Odisha States and union territories of India, state in India. Rayagada became a separate district in October 1992. Its population consists mainly of Adivasi, tribes, primarily the Khonds and t ...

. This plant supplies power to Utkal Refinery of Hindalco Industries. * Aditya Captive Power Plant. A 900 MW captive power plant located at Lapanga,

, Odisha. This plant supplies power to Aditya smelter of Hindalco Industries. * Mahan Hindalco Industries Ltd. a 900 MW captive power plant and alumina smelter located in Bargawa 20 km from Singrauli.

Novelis

On 11 February 2007, the company entered into an agreement to acquire the American company Novelis for 6 billion, making the combined entity the world's largest rolled-aluminium producer. At 2007 Novelis was the world's largest producer of rolled aluminium and a major recycler of aluminium cans. On 15 May 2007, the acquisition was completed with Novelis shareholders receiving $44.93 per outstanding share of common stock. Novelis operates as an independent subsidiary with its own leadership team and remains headquartered in

Atlanta Atlanta ( ) is the List of capitals in the United States, capital and List of municipalities in Georgia (U.S. state), most populous city in the U.S. state of Georgia (U.S. state), Georgia. It is the county seat, seat of Fulton County, Georg ...

Georgia Georgia most commonly refers to: * Georgia (country), a country in the South Caucasus * Georgia (U.S. state), a state in the southeastern United States Georgia may also refer to: People and fictional characters * Georgia (name), a list of pe ...

. It is incorporated in

Delaware Delaware ( ) is a U.S. state, state in the Mid-Atlantic (United States), Mid-Atlantic and South Atlantic states, South Atlantic regions of the United States. It borders Maryland to its south and west, Pennsylvania to its north, New Jersey ...

. Hindalco, through its wholly owned subsidiary AV Metals Inc., acquired 75,415,536 common shares of Novelis, representing 100 per cent of the issued and outstanding common shares. Immediately after closing, AV Metals Inc. transferred the common shares of Novelis to its wholly owned subsidiary AV Aluminum Inc. When Hindalco made this bid in 2007 this became the largest Indian investment in North America and the second-largest overseas investment by an Indian company (behind

Tata Steel Europe Tata Steel Europe Ltd. (formerly Corus Group plc) was a steelmaking company headquartered in London, England, with its main operations in the United Kingdom and the Netherlands. The company was created in 2007, when Tata Group took over the Br ...

's purchase of Corus two weeks earlier) to this time. The day after Hindalco announced the acquisition its stock fell by 13% resulting in a 600 million drop in market capitalisation. Shareholders criticised the deal but

Kumar Mangalam Birla Kumar Mangalam Birla (born 14 June 1967) is an Indian billionaire businessman. He is the chairman of the Aditya Birla Group, one of the largest Conglomerate (company), conglomerates in India. He is the chancellor of the Birla Institute of Techn ...

responded that he had offered a fair price for the company and stated, "When you are acquiring a world leader you will have to pay a premium."

Other acquisitions

In June 2000, acquisition of controlling stake in Indian Aluminium Company Limited (Indal) with 74.6 per cent equity holding. In July 2007, Hindalco announced it is acquiring the stake of

Alcan Alcan was a Canadian mining company and aluminum manufacturer. It was founded in 1902 as the Northern Aluminum Company, renamed Aluminum Company of Canada in 1925, and Alcan Aluminum in 1966. It took the name Alcan Incorporated in 2001. During ...

Inc. in the Utkal Alumina Project located in Doraguda,

. On 15 April 2020, Novelis acquired US-based Aluminium rolled products manufacturer Aleris Corporation. Hindalco's Novelis' entry into the high-end aerospace segment, this deal has been closed at an enterprise value of $2.8 billion. On 6 February 2024, Hindalco announced it is acquiring 26% stake in Ayana Renewable Power Four (ARPFPL) for a value of Rs 1.62 crore. Hindalco will operate a captive power generation plant for supplying 100 MW Renewable energy to Hindalcos smelter in Odisha.

Listings and shareholding

The equity shares of Hindalco are listed on the

Bombay Stock Exchange BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange based in Mumbai. It is the 6th largest stock exchange in the world by total market capitalization, exceeding $5 trillion in May 2024. Established with t ...

, where it is a constituent of the

BSE SENSEX The BSE SENSEX (also known as the S&P Bombay Stock Exchange Sensitive Index or simply SENSEX) is a free-float market-weighted stock market index of 30 well-established and financially sound companies listed on the Bombay Stock Exchange. The 30 ...

index, and the

National Stock Exchange of India National Stock Exchange of India Limited, also known as the National Stock Exchange (NSE), is an Indian stock exchange based in Mumbai. It is the List of stock exchanges, 5th largest stock exchange in the world by total market capitalization, ...

, where it is a constituent of the S&P CNX Nifty. Its Global depository receipts are listed on the

Luxembourg Stock Exchange The Luxembourg Stock Exchange, LuxSE () is based in Luxembourg City at 35A boulevard Joseph II. The chairman of the board is Alain Kinsch and the chief executive officer is Julie Becker. History A law establishing a stock exchange in Luxemb ...

. As on 31 March 2022, the promoters

held around 34.64% equity shares in Hindalco. Over 408,000 individual shareholders hold approx. 9% of its shares.

References

External links

* * Business data for Hindalco Industries
ReutersGoogle FinanceBloombergQuint
{{Authority control Manufacturing companies based in Mumbai Mining companies of India Copper mining companies of India Aditya Birla Group NIFTY 50 Aluminium companies of India Manufacturing companies established in 1958 Multinational companies headquartered in India Indian companies established in 1958 Indian brands Manufacturing plants in Uttar Pradesh 1958 establishments in Bombay State Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange