ICICI Securities has raised its target price for Hindalco Industries to ₹765 for 2025, up from ₹730, maintaining a “Buy” rating on the stock. The upgrade reflects the company’s strong growth outlook, driven by plans to expand capacity in India and focus on high-value-added products.
Hindalco is also looking at specialty alumina as a new growth opportunity, while its subsidiary, Novelis, aims for a steady EBITDA of USD 600 per tonne. With a strong balance sheet and smart capital management, the company is well-positioned for long-term success.
Hindalco Share Price Forecast 2025 – ICICI Securities Report
ICICI Securities has increased its valuation of Hindalco’s India business, raising the multiple from 5.5x to 6x due to its strong future potential. The firm has also adjusted its capital expenditure estimates for FY26 and FY27 to align with the company’s expansion plans.
The new target price is based on a blended EV/EBITDA multiple of 6.3x for FY27E, up from 6x. With steady earnings growth and a focus on high-margin segments, Hindalco remains an attractive investment choice in India’s growing metals and aluminum sector.