Hindustan Copper Limited updated its corporate presentation for August 2026, outlining its strategy to expand mining capacity from around 4 million tonnes per annum (MTPA) to 12.20 MTPA by FY30.

The Miniratna Category-1 Central Public Sector Enterprise, which is wholly owned by the Government of India, disclosed that it owns all operating mining leases of copper ore in the country. The company holds access to approximately 45% of India's copper ore reserves and resources.

Financial Performance

The presentation highlighted strong financial growth in FY26 compared to previous years. Revenue from operations rose significantly year-on-year, while profit before tax more than doubled.

In Q1FY27, revenue stood at ₹936.50 crore with a profit before tax of ₹471.77 crore. The company declared a dividend of ₹276.57 crore for FY26, up from ₹141.19 crore in FY24-25.

Production and Reserves

Physical production metrics showed growth in FY26. Copper ore production reached 3.67 million tonnes, a 6% increase over FY25. Metal in concentrate (MIC) production hit a seven-year high of 27,421 tonnes, marking 9% growth. MIC sales volume increased by 12% to 27,369 tonnes.

Total resources and reserves as on April 1, 2026, stood at 785.99 million tonnes. This represents an increase of 217.23 million tonnes since April 2018, when the figure was 568.75 million tonnes.

Expansion Strategy

The company plans to invest over ₹7,000 crore in the next five to six years. Key expansion targets include:

• Malanjkhand Copper Project: Capacity to rise from 2.50 MTPA to 5.00 MTPA.
• Khetri Copper Complex: Capacity to double from 1.50 MTPA to 3.00 MTPA.
• Indian Copper Complex: Capacity to jump from 0.40 MTPA to 4.20 MTPA.

Production is projected to reach 4.71 million tonnes in FY27 and 12.20 million tonnes by FY30.

What the Numbers Show

The divergence between revenue growth and loan reduction indicates improved operational efficiency. While revenue from operations grew nearly 49% from FY24-25 to FY25-26, total loans declined from ₹166.47 crore in March 2025 to ₹89.86 crore by July 2026. This suggests the company is funding its expansion through internal accruals rather than increasing debt leverage.

Market Context

Hindustan Copper remains the sole vertically integrated producer of refined copper in India. The presentation noted that India's per capita copper consumption is 0.6 kg, significantly lower than the world average of 3.2 kg. Global reserves stand at 980 million tonnes, with India holding 2 million tonnes, or 0.22% of the global total.

Hindustan Copper has appointed M/s P A & Associates as its statutory auditors for the financial year 2026-27. The Comptroller & Auditor General of India (C&AG) issued the appointment order on September 8, 2026, pursuant to Section 139 of the Companies Act, 2013.

The company notified the stock exchanges of the development on September 14, 2026. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Audit Mandate Details

M/s P A & Associates, a partnership firm headquartered in Bhubaneswar, Odisha, will serve as the statutory auditor. The firm’s C&AG empanelment number is CAV/F/LP/SP0027. It was formed on October 15, 1980, and holds ICAI registration number 313085E.

The C&AG letter specifies that the statutory auditor of the holding company shall also audit the consolidated financial statements under Section 139 read with Section 129(4) of the Companies Act, 2013.

Supplementary Audit

The supplementary and test audit under Sections 143(6) and (7) of the Companies Act, 2013, has been entrusted to the Director General of Audit, Mines & Coal, Kolkata.

Remuneration and allowances payable to the auditors are regulated under Section 142 of the Companies Act, 2013, along with guidelines issued by the Department of Company Affairs in 1976 and 1984. The company must intimate any revision in audit fees and details of remuneration for other services once the accounts for FY26 are finalized.