HINDCOPPER · Metals & Mining
Hindustan Copper Ltd. reported revenue of ₹328 cr for October to December 2024, −17.8% on the year and −36.7% on the quarter.
Operating profit (EBITDA) was ₹108 cr, a margin of 32.9%, +611 bps on the year and +358 bps on the quarter. Over the last 7 quarters the margin has ranged from 25.1% to 40.0%, averaging 32.0%. Operating costs grew −24.7% against revenue growth of −17.8%, so more of each rupee of sales reached operating profit.
Net profit was ₹63.0 cr, 0.0% on the year and −38.2% on the quarter, with earnings per share of ₹0.65. Profit before other income, one-offs and tax fell 5.6%, so 6 points of the headline growth came from outside the core business. The tax rate of 26% is in line with its recent average.
Metal margins move with the spread between product prices and coal and ore costs, so large quarterly swings are normal here and say more about prices than about the business. The quarterly statements do not carry volumes, realisation per tonne and the cost of coal and ore; those come with the filing read.
On earnings per share of ₹4.16 over the last four quarters, the stock at ₹430.00 trades at 103.4 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Margin rose sharply on flat revenue. Which cost fell, and will it stay down?
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹381 cr | ₹399 cr | ₹565 cr | ₹494 cr | ₹518 cr | ₹328 cr | ₹731 cr | ₹516 cr | ₹718 cr | ₹687 cr | ₹1,156 cr | ₹936 cr |
| YoY | — | — | — | +33% | +36% | −18% | +29% | +4% | +39% | +109% | +58% | +81% |
| EBITDA margin | 31.8% | 26.8% | 40.0% | 38.1% | 29.3% | 32.9% | 36.5% | 41.1% | 39.3% | 49.5% | 54.3% | 54.3% |
| Other income, % of PBT | 13% | 12% | 11% | 5% | 24% | 19% | 18% | 6% | 4% | −37% | 6% | 4% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 27% | 23% | 32% | 26% | 25% | 26% | 27% | 25% | 25% | 26% | 25% | 25% |
| Net profit | ₹61.0 cr | ₹63.0 cr | ₹124 cr | ₹113 cr | ₹102 cr | ₹63.0 cr | ₹191 cr | ₹134 cr | ₹186 cr | ₹156 cr | ₹444 cr | ₹353 cr |
| YoY | — | — | — | +140% | +67% | 0% | +54% | +19% | +82% | +148% | +132% | +163% |
| Core profit YoY | — | — | — | +206% | +43% | −6% | +31% | +15% | +131% | +328% | +162% | +169% |
| EPS | ₹0.63 | ₹0.65 | ₹1.29 | ₹1.17 | ₹1.05 | ₹0.65 | ₹1.97 | ₹1.39 | ₹1.92 | ₹1.62 | ₹4.59 | ₹3.65 |
| Flags | · | · | · | ✓ | 1 | ✓ | 3 | ✓ | ✓ | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Hindustan Copper Ltd. reported revenue of ₹328 cr (−17.8% on the year) and net profit of ₹63.0 cr (0.0% on the year) for October to December 2024.
Profit before other income, exceptional items and tax moved −5.6% on the year, against 0.0% for reported profit.
None of the 7 checks that could run raised a question.
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