Hindalco Industries Limited an Indian

aluminium Aluminium (aluminum in AmE, American and CanE, Canadian English) is a chemical element with the Symbol (chemistry), symbol Al and atomic number 13. Aluminium has a density lower than those of other common metals, at approximately o ...

and

copper Copper is a chemical element with the symbol Cu (from la, cuprum) 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 ...

manufacturing company, is a subsidiary of the

Aditya Birla Group Aditya Birla Group is an Indian multinational conglomerate, headquartered in Mumbai. It operates in 100 countries with more than 1,40,000 employees directly and indirectly. The group was founded by Seth Shiv Narayan Birla in 1857. The group has ...

. Its headquarters are at

Mumbai, Maharashtra Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second-m ...

, India. The company has annual sales of 25 billion and employs around 20,000 people. It 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 ''Forbes'' magazine. "The Global 2000" annual ranking is assembled by ''Forbes'' using a weighted assessment of four metrics: sales, profi ...

at 895th rank. Its market capitalisation by the end of May 2013 was US$3.4 billion. Hindalco is one of the world's largest aluminium rolling companies and one of the biggest producers of primary aluminium in Asia.

History

The Hindustan Aluminium Corporation Limited was established in 1958 by the

Aditya Birla Aditya Vikram Birla (14 November 1943 – 1 October 1995) was an Indian industrialist. Born into one of the largest business families of India, he oversaw the diversification of his group into textiles, petrochemicals and telecommunications. ...

Group. In 1962 the company began production in Renukoot in

Uttar Pradesh Uttar Pradesh (; , 'Northern Province') is a state in northern India. With over 200 million inhabitants, it is the most populated state in India as well as the most populous country subdivision in the world. It was established in 1950 ...

making 20 thousand metric tons per year of aluminium metal and 40 thousand metric tons per year of alumina. In 1989 the company was restructured and renamed Hindalco.

Ramdev Singh Ramdev Singh (8 October 1935 – 14 April 2022) was the first trade union leader (''mazdoor neta'') of Hindalco Industries Limited, Renukoot of Aditya Birla Group. He was popular among workers of Hindalco and other factories of Sonbhadra and ...

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,

. * Hirakud Captive Power Plant. A 467.5 MW captive power plant located at Hirakud, Sambalpur District,

Odisha Odisha (English: , ), formerly Orissa ( the official name until 2011), is an Indian state located in Eastern India. It is the 8th largest state by area, and the 11th largest by population. The state has the third largest population of Sc ...

. 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 southern Odisha, a state in India, which became a separate district in October 1992. Its population consists mainly of tribes, primarily the Khonds and the Soras. In addition to Odia, Kui and Sora are ...

. This plant supplies power to Utkal Refinery of Hindalco Industries. * Aditya Captive Power Plant. A 900 MW captive power plant located at Lapanga, Sambalpur District, 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 Novelis Inc. is an American industrial aluminum company, headquartered in Atlanta, Georgia, United States. It is an independent subsidiary of multinational aluminium and copper manufacturing company Hindalco Industries. Novelis is a producer of ...

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 capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, the most populous county in Georgia, but its territory falls in both Fulton and DeKalb counties. With a population of 498,71 ...

Georgia Georgia most commonly refers to: * Georgia (country), a country in the Caucasus region of Eurasia * Georgia (U.S. state), a state in the Southeast United States Georgia may also refer to: Places Historical states and entities * Related to t ...

. It is incorporated in

Delaware Delaware ( ) is a state in the Mid-Atlantic region of the United States, bordering Maryland to its south and west; Pennsylvania to its north; and New Jersey and the Atlantic Ocean to its east. The state takes its name from the adjacen ...

. Hindalco, through its wholly owned subsidiary AV Metals Inc., acquired 75,415,536 common shares of Novelis, representing 100 percent 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 ...

'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 industrialist, philanthropist, Chartered Accountant and the chairman of the Aditya Birla Group, one of the largest global conglomerates in India. He is also the chancellor of t ...

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 t ...

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.

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. It is located on Dalal Street in Mumbai. Established in 1875 by cotton merchant Premchand Roychand, a Jain businessman, it is the oldest stock exchange i ...

, where it is a constituent of the BSE SENSEX index, and the

National Stock Exchange of India National Stock Exchange of India Limited (NSE) is the leading stock exchange under the ownership of various group of domestic and global financial institutions, public and privately owned entities and individuals. It is located in Mumbai, Mah ...

, 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 (french: Bourse de Luxembourg) 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. The exchange has pre-openin ...

. 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.

Financials

Hindalco Industries reported 43,351 crores as its total revenue, while its profit was 993 crores in the financial year 2021.

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 Hindalco Industries 1958 establishments in Bombay State Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange