Copper industry
5 companies · ₹53,225 cr · 2 with AI deep dives · Q1FY27 report
LME surge prints record earnings across zinc and aluminium, but moderating prices flag a peak-earnings moment
- Revenue YoY
- +65.8%
- EBITDA margin
- 33.1%
- +1120bps YoY
- Price, 1 year
- +114.2%
- 67% of names up
- P/E vs own 5y
- -39.2%
- 19.3x now
Exhibit 1The quarter in numbers
constant panel of 3 companies above ₹500 cr- Jun 26
- 1,736 cr
- Mar 26
- 1,967 cr
- QoQ
- -11.7%
- Jun 25
- 1,047 cr
- YoY
- +65.8%
- Peak
- 1,967 cr
- vs peak
- -11.7%
- Jun 26
- 33.1%
- Mar 26
- 35.2%
- QoQ
- -210bps
- Jun 25
- 21.9%
- YoY
- +1120bps
- Peak
- 35.2%
- vs peak
- -210bps
Breadth: 100% of 3 companies grew revenue year on year (was 100% a quarter earlier) and 100% expanded margin (was 100%).
Exhibit 2What it costs
10.57x - 31.81x across the panel todayThe median name trades at 19.3x, -39.2% against this industry's own 5-year median of 31.7x, and -71.0% against its own peak of 66.3x.
Exhibit 3Structure
₹53,225 crHindustan Copper Ltd is 94.7% of this industry by market cap. The top 5 are 100% and the top 10 are 100%.
Exhibit 4Screen
P/E below the sub-industry median of 19.26x, 5y ROCE above its median of 6.96%, and at least 2 growth triggers stated on the latest earnings call.
Which names clear this screen is premium
The screen runs on stated growth triggers from the latest earnings calls - the same guidance data the stock screener reserves for premium. Premium names every company in this industry that is cheap against its own median and has the triggers behind it.
See plans →Exhibit 5Coverage (5 of 5)
Every company here with a deep dive, topped up by market cap. The rest of the industry is in the appendix.
- Mcap
- ₹42 cr
- P/E
- 17.1x
- EV/EBITDA
- 12.2x
- ROCE
- 5.5%
- Margin
- 5.2%
- Rev YoY
- -
Exhibit 6What managements said
from Non - Ferrous Metals earnings calls · as of 2026-06-30Zinc LME averaged $3,466/MT in Q1FY27 (+31% YoY) and aluminium LME averaged $3,571/MT (+46% YoY), producing all-time high quarterly earnings across Hindustan Zinc, Hindalco India…
- HINDZINC (Q1FY27): “highest-ever quarterly EBITDA of INR8,074 crores, up 109% year-on-year, with an…”
Exhibit 7Outlook
The outlook and what resolves next quarter
Where these managements said things are heading, and the dated, checkable events that would change it. Free with an account - 3 full reports a quarter.
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