Hindalco Share Price: 25.6% CAGR in 3 Years as the Aluminium Major Outpaces Tata Steel

Hindalco previous close Rs 960. 3-year CAGR 25.6%. Up 2.0x since 9 Nov 2023. ROE 14.58%. Market cap Rs 2,15,509 crore.

The Hindalco share price has almost doubled in three years, and that makes Hindalco Industries one of the stronger performers among large Indian metal companies. The Aditya Birla Group firm is among the largest aluminium and copper producers in the country, and it also owns the global rolling company Novelis.

This article compares that run with Tata Steel, the best-known listed steel producer. We calculate the three-year CAGR for both and set the results beside market cap, valuation, return on equity and debt, using prices adjusted for corporate actions, so that readers get a like-for-like view.

Click Here – Get Free Investment Predictions

How Much Has the Hindalco Share Price Returned in 3 Years?

The Hindalco stock closed at Rs 484.45 on 9 November 2023 and at Rs 960.00 on 9 November 2026. Rs 1 lakh invested three years ago would have grown to about Rs 1.98 lakh, which is a CAGR of 25.6%. This is a price return and leaves out dividends.

CAGR condenses a bumpy three-year ride into one yearly number, which is why it is the fairest way to compare companies of different sizes. A stock such as Hindalco can look spectacular on a chart and still have earned a modest yearly return, so the compounded figure keeps the comparison honest.

The Hindalco share price has also been supported by firm aluminium and copper demand, a growing share of value-added products and a strong contribution from its overseas arm.

Hindalco vs Tata Steel: 3-Year CAGR Compared

The table ranks the companies by three-year CAGR. Prices on 9 November 2023 are adjusted for splits and bonuses, and the latest figures are the previous close on 9 November 2026.

Company	Close on 9 Nov 2023	Previous close (9 Nov 2026)	Price multiple	3-year CAGR
Hindalco Industries	Rs 484.45	Rs 960.00	2.0x	25.6%
Tata Steel	Rs 119.65	Rs 184.85	1.5x	15.6%

The Hindalco stock leads the pair at 25.6%, ahead of Tata Steel at 15.6%. Hindalco finished ahead of Tata Steel on yearly return. The two companies are close in size by market cap, but Hindalco carries a higher ROE and a lower P/E.

Look at the Hindalco share price alongside the peers as a snapshot of the last three years. It describes what happened, and valuation and earnings will decide what happens next.

Valuation and Quality Compared

Company	Market cap	P/E	Industry P/E	ROE	Debt to equity
Tata Steel	Rs 2,30,820 crore	19.59	21.06	11.18%	0.99
Hindalco Industries	Rs 2,15,509 crore	11.23	10.33	14.58%	0.71

By market cap, Tata Steel is the largest of the group at Rs 2,30,820 crore, while the Hindalco stock stands at Rs 2,15,509 crore, about 93% of that size. On earnings, Hindalco shares trade at a P/E of 11.23 against an industry P/E of 10.33, a premium of about 9%, which signals that the market expects faster earnings growth. Peer multiples are Tata Steel at 19.59.

Return on equity is 14.58% for the Hindalco stock, which ranks first among the two, and debt to equity stands at 0.71. Trailing EPS is Rs 85.40. Metal companies move with commodity prices, so the P/E should be read together with return on equity and the debt position, because earnings can change with the price cycle.

What Is Driving the Hindalco Stock?

Hindalco makes aluminium, copper and a range of downstream products such as foil, extrusions and rolled products. Its Novelis subsidiary is one of the world's largest aluminium rolling and recycling businesses, which broadens exposure to beverage cans, autos and packaging.

Aluminium demand has been supported by power, transport and packaging uses. The company is also building capacity in downstream products and in copper, which can add steadier margins than the primary metal alone.

Followers of the Hindalco share price usually track aluminium and copper prices, the performance of Novelis, input costs such as coal and alumina, and capital spending plans.

How the Established Players Stack Up

Tata Steel is a Mumbai-based steel producer with large operations in India and a presence in Europe, and it is one of the best-known steel names in the country. It compounded at 15.6% a year, on a market cap of Rs 2,30,820 crore and an ROE of 11.18%.

What Should Investors Track Next?

Three things are worth watching on the Hindalco share price. First, the direction of aluminium and copper prices. Second, the performance of Novelis. Third, the progress of capacity expansion and downstream projects.

At a P/E of 11, the stock trades at a similar level to the industry P/E of 10, and its debt to equity of 0.71 is moderate. Metal prices can swing quickly, so size any position with that in mind.

Check the Univest Screener for live fundamentals of metal stocks

How to Compare Metals Stocks Yourself

You can repeat this exercise for any pair of stocks, including the Hindalco stock against its peers. Note the adjusted closing price on the base date, take the latest close, divide one by the other, raise the result to the power of one third and subtract one. Then place the CAGR next to market cap, P/E against the industry P/E, ROE and debt to equity. Benchmark the result against the Nifty 50 as well, so you know whether the stock beat the broader market.

A stock that scores well on growth but weakly on quality, or the reverse, deserves closer study before it enters a portfolio. When tracking the Hindalco share price, the same four checks give a more complete picture than price alone.

Download the Univest iOS App or Univest Android App to track the Hindalco share price and compare metal stocks live.

An Aluminium Major With a Higher ROE and a Lower P/E

The Hindalco share price compounded at 25.6% a year over three years, ahead of Tata Steel at 15.6%. Its ROE of 14.58% is higher than Tata Steel at 11.18%, and its P/E of 11.23 is lower.

Tata Steel brings a pure steel exposure at a higher multiple. The choice depends on whether you want aluminium and copper or steel.

Frequently Asked Questions

What is the Hindalco share price today?

Ans. Hindalco Industries closed at Rs 960 on 9 November 2026, according to NSE data. It has a market cap of Rs 2,15,509 crore and a P/E of 11.23. Check live quotes before acting, as prices change every trading day.

What is the 3-year CAGR of the Hindalco stock?

Ans. Hindalco Industries delivered a price CAGR of 25.6% over three years, moving from Rs 484.45 on 9 November 2023 to Rs 960.00 on 9 November 2026. The figure excludes dividends and uses adjusted closing prices.

Is Hindalco better than Tata Steel?

Ans. Hindalco delivered a higher three-year CAGR at 25.6% than Tata Steel at 15.6%. Hindalco has a higher ROE at 14.58% against 11.18% and a lower P/E of 11.23 against 19.59, while Tata Steel is slightly larger by market cap at Rs 2,30,820 crore against Rs 2,15,509 crore. The better choice depends on your view of each business.

What does Hindalco Industries do?

Ans. Hindalco Industries is an Aditya Birla Group company that produces aluminium and copper in India and owns Novelis, a global leader in aluminium rolling and recycling.

Is the Hindalco stock debt free?

Ans. The debt to equity ratio of the Hindalco stock is 0.71 and its return on equity is 14.58%. Always check the latest balance sheet for current figures, as debt levels change with expansion plans.

Is Hindalco expensive compared with the industry?

Ans. Hindalco trades at a P/E of 11.23 against an industry P/E of 10.33. A higher multiple reflects expectations of faster growth, which the company must deliver through earnings.

Which metals stock gave the highest return in 3 years?

Ans. Among the companies compared here, Hindalco Industries delivered the highest three-year CAGR at 25.6%, followed by Tata Steel at 15.6%. Past returns do not guarantee future performance.

How do I calculate CAGR for a stock?

Ans. Divide the latest price by the starting price, raise the result to the power of one divided by the number of years, and subtract one. Multiply by 100 for a percentage. Use split and bonus adjusted prices for accurate results.