The company is a Schedule A, Mini Ratna Category-I Central Public Sector Enterprise under the Ministry of Mines. The company is India’s only copper producer with operating mining leases for copper ore across the country and has an integrated presence across mining and ore beneficiation.
The shares of Hindustan copper are currently trading at Rs. 511.25, up by 1.43%. The company has a market capitalization of Rs. 49,439.10 crore. The stock’s 52 week high is Rs. 760.05 and its 52 week low is Rs. 282.00. In the past the stock has delivered a return of 13.84%.
What’s The News
Hindustan Copper is planning to invest more than Rs. 7,000 crore over the next five to six years as it looks to increase its copper production capacity and strengthen its domestic resource base. The expansion strategy includes increasing mining capacity at existing operations, reopening closed mines, expanding processing facilities and exploring opportunities to acquire new copper deposits in India and overseas. The company has also been exploring technical cooperation with Chile’s state-owned copper producer CODELCO.
According to a recent company update, HCL has added 135.52 million tonnes of copper ore reserves and resources over the past three years, while its total reserves and resources stood at approximately 767.37 million tonnes.
Malanjkhand Capacity Expansion
The Malanjkhand Copper Project (MCP) in Madhya Pradesh is one of the key assets in HCL’s expansion programme. The company is targeting an increase in the mine’s capacity to 5.0 million tonnes per annum (MTPA) by FY30.
The expansion involves underground mine development, installation of a new paste-fill plant and a new concentrator plant. These projects are intended to support higher ore production and processing capacity. Malanjkhand is currently HCL’s largest mining operation. During FY25, the project produced 27.252 lakh tonnes of ore, which was 7% higher than the previous year and 103% of its annual target.
Khetri Copper Complex Expansion
HCL is also targeting a significant increase in capacity at its Khetri Copper Complex (KCC) in Rajasthan. The company plans to double the capacity to 3.0 MTPA by FY30.
The expansion strategy includes increasing mining capacity, enhancing concentrator capacity and undertaking extensive exploration activities. The company is also working to address production constraints at its existing operations and increase utilisation of available resources.
Indian Copper Complex Expansion
At the Indian Copper Complex (ICC) in Jharkhand, HCL is targeting capacity expansion to 4.2 MTPA by FY30, compared with around 0.4 MTPA currently. The company is pursuing several initiatives at the complex, including reopening mines and expanding concentrator capacity.
HCL has appointed a Mine Developer and Operator for the reopening of the Rakha mine under a revenue-sharing model. It is also working on restarting the Kendadih mine and expanding the Surda mine.
Taloja Copper Project
HCL is also looking to increase downstream copper production through the Taloja Copper Project in Maharashtra. The company is targeting 60,000 tonnes per annum (TPA) of cathode production from the project.
Taloja is currently involved in third-party tolling activities. In FY25, the facility produced 15,218 tonnes of continuous cast copper rods through third-party tolling, compared with 27,833 tonnes in FY24. The planned expansion would therefore represent a significant increase in the project’s intended downstream production capability.
Gujarat Copper Project
The company is also progressing with its Gujarat Copper Project, with production expected to commence by Q4 FY27, according to the latest company targets.
The project forms part of HCL’s broader strategy to expand its downstream copper-processing footprint. The company’s earlier corporate presentation had indicated that activities under the proposed revenue-sharing model were in progress.
Focus on New Copper Deposits
Apart from expanding existing mines, HCL is actively pursuing opportunities to secure additional copper resources. The company is looking at new copper deposits in India as well as overseas, while also focusing on reopening previously closed mines in India.
This strategy is aimed at increasing the availability of domestic copper ore and supporting the company’s longer-term production expansion. The company has also entered into a collaboration with CODELCO of Chile for capacity building, knowledge sharing and technical cooperation in areas including mining, beneficiation and exploration.
Rs. 7,000 Crore Investment Plan
Hindustan Copper’s planned investment is part of a broader multi-year capacity expansion programme.
For FY27 alone, the company has planned capital expenditure of around Rs. 750 crore, compared with Rs. 465 crore in FY26. The company has indicated that the larger Rs. 7,000 crore investment programme will be deployed over the following years as various mining and processing projects become operational. The company’s production ramp-up is expected to be more pronounced from FY28 onwards as the expanded facilities progressively come into operation.
Financial Performance
Looking at the quarterly results of Hindustan Copper Limited, the company’s revenue from operations stood at Rs. 936.50 crore in Q1 FY27, compared with Rs. 516.37 crore in Q1 FY26, registering a growth of around 81.4% YoY. On a sequential basis, revenue declined from Rs. 1,156.08 crore in Q4 FY26.
The company’s operating performance improved significantly during the quarter. Operating profit increased to Rs. 457.87 crore, compared with Rs. 150.39 crore in Q1 FY26, while the operating margin stood at around 48.9%.
At the bottom line, Hindustan Copper reported a consolidated net profit of Rs. 352.37 crore in Q1 FY27, compared with Rs. 134.25 crore in Q1 FY26, registering growth of around 162.5% YoY. However, on a sequential basis, net profit declined from Rs. 444.27 crore in Q4 FY26.
The strong year-on-year improvement was also reflected in the company’s PBT, which rose to Rs. 471.77 crore, up around 163% from the year-ago quarter. The company has also been progressing with its mine-expansion programme, targeting 12.2 MTPA of ore production by 2030.
Investor Perspective
Hindustan Copper’s latest expansion strategy represents a multi-year effort to increase its domestic copper mining and processing capacity.The company’s targets include 5.0 MTPA at Malanjkhand, 3.0 MTPA at Khetri and 4.2 MTPA at the Indian Copper Complex by FY30, alongside a targeted 60,000 TPA cathode capacity at Taloja and the expected start of production at the Gujarat Copper Project in Q4 FY27.