Mumbai: Hindustan Copper Limited (HCL), a Government of India enterprise, reported robust unaudited financial results for the third quarter ending December 31, 2025, with significant growth in profitability and declaration of interim dividend for shareholders.
Financial Performance Highlights (Standalone)
Q3 FY2026 (October-December 2025)
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Net Profit: ₹156.31 crore – A massive 148.5% Year-on-Year (YoY) increase from ₹62.90 crore in Q3 FY2025
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Revenue from Operations: ₹687.34 crore – 109.7% YoY growth from ₹327.77 crore
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Profit Before Tax (PBT): ₹212.53 crore – 152% YoY increase
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Earnings Per Share (EPS): ₹1.62 (Basic & Diluted)
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Total Income: ₹705.31 crore
Nine Months FY2026 (April-December 2025)
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Net Profit: ₹476.61 crore – 71.4% increase from ₹277.99 crore
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Revenue: ₹1,921.84 crore – 43.4% YoY growth
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EPS: ₹4.93 (Basic & Diluted)
Dividend Declaration
The Board of Directors declared an Interim Dividend of ₹1 per equity share (20% of face value of ₹5 each) for the financial year 2025-26.
Key Dividend Dates
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Record Date: Friday, February 13, 2026
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Payment Date: On or before Friday, March 6, 2026
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Payment Mode: Electronic transfer only (no physical cheques/drafts)
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TDS Compliance: Shareholders must update PAN and residential status with Depository Participants/RTA
Operational & Cost Performance
Expense Analysis (Q3 FY2026)
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Employee Benefits Expense: ₹191.79 crore (up significantly from ₹74.84 crore in Q3 FY2025)
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Depreciation: ₹47.94 crore
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Other Expenses: ₹212.25 crore
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Finance Costs: ₹2.03 crore (low borrowing costs)
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Total Expenses: ₹492.78 crore
Profit Margins
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PBT Margin: 30.1% for Q3 FY2026
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Net Profit Margin: 22.2% for Q3 FY2026
Segment Information
HCL operates as a single segment company engaged in mining and processing of copper ore, with manufacturing facilities up to refined copper production and continuous copper wire rods, in accordance with Ind AS 108 - Operating Segments.
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Post-Retirement Medical Scheme
During the quarter, the company introduced a Post-Retirement Medical Scheme (PRMS) and made a one-time provision of ₹95.75 crore based on actuarial valuation as per Ind AS 19 guidelines.
Joint Ventures & Subsidiaries
Chhattisgarh Copper Limited (CCL)
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HCL Stake: 74% (subsidiary)
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Purpose: Exploration, mining and beneficiation of copper in Chhattisgarh
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Performance: Minimal impact on consolidated results
Khanij Bidesh India Limited (KABIL)
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HCL Stake: 30% (joint venture with NALCO and MECL)
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Purpose: Overseas strategic mineral exploration and acquisition
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Performance: Reported loss of ₹2.33 crore for 9M FY2026
Corporate Governance Concerns
Board Composition Issues
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Independent Directors: Company lacks independent directors since November 3, 2024
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Audit Committee: No valid committee could be constituted
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Woman Director: Position vacant since June 22, 2025
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Financial Results Approval: Approved directly by Board of Directors instead of Audit Committee
Legal & Regulatory Matters
Gujarat Copper Project (GCP)
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Issue: Lease deed for land (carrying value ₹48.20 crore) yet to be executed
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Status: Writ filed in Gujarat High Court for land transfer – pending
New Labour Codes
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Implementation: Effective from November 21, 2025
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Status: Detailed rules yet to be notified
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Financial Impact: Evaluation in progress, no provision made in current results
Financial Position
Capital Structure
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Paid-up Equity Capital: ₹483.51 crore (Face value ₹5 per share)
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Other Equity: ₹2,180.79 crore (as of March 31, 2025)
Audit & Compliance
The financial results were reviewed by P. A. & Associates, Chartered Accountants. The Board meeting commenced at 10:30 AM and concluded at 2:50 PM on February 5, 2026.
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Market Context
HCL's strong performance comes amid favorable copper prices and increased domestic demand. As India's only vertically integrated copper producer, the company benefits from the government's focus on domestic manufacturing and mineral security.
About Hindustan Copper Limited:
HCL is a Government of India enterprise and the nation's only vertically integrated copper producer, engaged in mining, beneficiation, smelting, refining, and production of continuous cast copper rods. The company operates mines in Rajasthan, Madhya Pradesh, and Jharkhand.
For more information, visit: www.hindustancopper.com