Aditya Birla aluminium and copper major: supplies aluminium rod for conductors and copper rod for windings and cables (also in Nifty 50, electronics and critical-minerals sectors)
Price
₹958.00
snapshot 6 Nov 2026
Strengths
Integrated aluminium plus India's largest custom copper smelter (Dahej)
Grid metals demand grows with transmission and cable capex
Risks
Grid is a small slice of a global metals and Novelis business
LME prices and copper smelting charges drive earnings
Key stats — company snapshot as of 6 Nov 2026
Mkt Cap
₹2.15L Cr
Stock P/E
9.2x
Div Yield
0.52%
ROCE
13.2%
ROE
13.0%
P/B
1.3x
Revenue growth
+15.3%FY26
Profit growth
−16.3%FY26
Net margin
4.9%FY26
1Y vs Nifty
+24 ptsNifty −1.9%
Revenue, ₹ Cr (5-yr) — company table
1,95,059FY22
2,23,202FY23
2,15,962FY24
2,38,496FY25
2,74,944FY26
Stock price return · as of 6 Nov 2026
1Y price return
+22%
3Y CAGR
+26%
5Y CAGR
+15%
Trend74th percentile
52-week range as of 6 Nov 2026 vs snapshot price · 19% below its high
Note: Includes Novelis (US/Europe aluminium rolling); Grid is a small part of metals demand
Market cap, ratios, CAGR and revenue: company table snapshot as of 6 Nov 2026 (the same figures on every page). Price: snapshot as of 6 Nov 2026. Not investment advice.
Where it fits
Smelters and steelmakers supply the three metals that make up most of the grid's equipment cost: aluminium wire rod (conductors), copper rod and strip (transformer windings, cables) and cold-rolled grain-oriented (CRGO) steel (transformer cores). Processors slit and cut CRGO into core laminations.
Why it matters
CRGO is the grid's most strategic gap: GTRI estimates India needed ~4 lakh tonnes in FY24 and made only ~50,000 tonnes, at JSW JFE's Nashik plant. A domestic anti-dumping complaint (DGTR probe, Jun 2026) and BIS certification rules decide how much transformer makers pay. Aluminium and copper prices flow straight into conductor and cable costs.
Where the value pool sits
Commodity-priced: aluminium and copper earnings follow LME prices and power costs, and grid demand is only one slice of their volume. CRGO earns a premium because supply is short, which is why JSW and JFE are spending ~₹5,845 Cr to reach 3.5 lakh tonnes a year from FY28.
Key drivers
Transformer and conductor demand from grid capex
CRGO capacity addition by JSW JFE (Nashik, Vijayanagar)
Rising aluminium and copper intensity of renewables and EVs
Potential bottlenecks
Domestic CRGO output is a fraction of demand; imports come mostly from Japan, Korea, China and Russia