Hindustan Copper Limited (HCL) stands as India's only vertically integrated copper producing company, managing the entire copper value chain from mining to beneficiation, smelting, refining, and casting of refined copper metal into saleable products. Incorporated on November 9, 1967, as a public sector undertaking under the administrative control of the Ministry of Mines, HCL has established itself as a cornerstone of India's copper industry.
The company operates with a comprehensive infrastructure spanning multiple states across India. HCL has copper mines and concentrator plants in Malanjkhand Copper Project in Madhya Pradesh (MCP), Khetri Copper Complex in Rajasthan (KCC), and Indian Copper Complex in Ghatsila, Jharkhand (ICC). The company maintains smelter and refinery facilities at ICC and Gujarat Copper Project in Gujarat (GCP) for copper cathode production, with subsequent conversion to copper wire rod at Taloja Copper Project in Maharashtra (TCP).
As of July 2025, Hindustan Copper commands a market capitalisation of ₹26,308 crore, reflecting its significant position in the Indian metals sector. The company maintains a strong promoter holding of 66.14% as of March 2025, demonstrating the government's continued confidence in the enterprise.
The company's recent financial performance has been particularly robust. For the quarter ended March 2025, HCL reported a consolidated profit of ₹189.49 crore on total income of ₹777.28 crore, showing substantial growth. Net profit jumped 50.55% compared to the same period last year, reaching ₹187.18 crore in Q4 2024-25. The company's revenue trajectory has been impressive, with quarterly revenue increasing from ₹343.57 crore to ₹777.28 crore, representing an average increase of 55.8% per quarter.
For the financial year 2024, HCL posted a profit of ₹295.73 crore on total income of ₹1,717.00 crore, demonstrating consistent operational efficiency. The company reported record revenue and profit growth in FY 2024-25, with a 54% increase in profit before tax and a 21% rise in revenue.
HCL is embarking on an ambitious expansion program to strengthen its market position. The company plans to invest ₹2,000 crore over the next 5-6 years to expand its mining capacity from 4 MTPA to 12.2 MTPA by FY31. This investment focuses on the Malanjkhand Copper Project and aims to enhance domestic copper availability amid rising demand.
The company is also diversifying its portfolio beyond traditional copper mining. HCL is set to bid for critical minerals and rare earth elements in collaboration with IOCL, GAIL, and RITES, positioning itself to capitalize on India's growing demand for strategic minerals. The company has signed an MoU with IOCL for joint mining, exploration, and risk sharing as of June 29, 2025.
HCL markets copper cathodes, continuous cast copper rod, and by-products such as anode slime containing precious metals, copper sulphate, and sulphuric acid. The company controls more than 80% of the nation's copper reserves, giving it a strategic advantage in the domestic market.
The company's operational capabilities include annual copper cathode refining capacity of 68,500 MT and annual smelting capacity of 18,500 MT. At the Taloja factory, there is an installed wire rod capacity of 60,000 MT, supporting downstream value addition.
HCL demonstrates strong financial discipline with the company being almost debt-free. The company maintains a reasonable debt-to-equity ratio of 4%, signaling a healthy balance sheet. The company shows impressive metrics with annual revenue growth of 21%, pre-tax margin of 31%, and ROE of 17%.
HCL pays dividends annually, with the last dividend per share being ₹0.92 and a dividend yield of 0.33%. This consistent dividend policy reflects the company's commitment to shareholder returns while maintaining growth investments.
HCL actively engages in international cooperation to enhance its technical capabilities. A delegation of mining experts from Chile recently visited Hindustan Copper to assess operations and explore knowledge sharing, following an MoU signed in April. Such collaborations position the company to adopt global best practices and improve operational efficiency.
The company's strategic importance extends beyond commercial operations, as it plays a crucial role in India's mineral security and self-reliance initiatives. HCL has formed partnerships to jointly develop a sustainable supply chain for metals and minerals, enhancing India's critical mineral security and promoting economic resilience.
