Aluminium Stocks and Companies in India

The largest Aluminium stocks in India by market value are Hindalco (₹2.1 lakh crore), NALCO (₹59,920 crore) and Synthiko Foils (₹2,483 crore), at prices of 4 Nov 2026.

• Hindalco: ₹935.80 | market value ₹2.1 lakh crore | P/E 10.2
• NALCO: ₹326.25 | market value ₹59,920 crore | P/E 8.9
• Synthiko Foils: ₹1,715 (price from the week of 8 Mar 2026) | market value ₹2,483 crore | P/E 10347
• Belding India: ₹843 (price from the week of 23 Oct 2026) | market value ₹1,221 crore
• ANB Metal Cast: ₹374 (price from the week of 5 Jul 2026) | market value ₹443 crore | P/E 20.6
• Alufluoride: ₹552.30 | market value ₹432 crore | P/E 17.5

Share price | market value | P/E, biggest first. Prices, market values and ratios at the official close of 4 Nov 2026; the score list below uses the weekly figures.

Ranked by the 4-Factor Sector Score (growth & earnings 35, capital efficiency 25, valuation 20, relative strength 20). Prices as of 30 Oct 2026.

All 6 listed Indian Aluminium companies are named here, largest first. This is the set of companies people mean when they search for a Nifty Aluminium index; NSE publishes its own indices only for the largest sectors, so this equal-weighted set stands in for one. Every figure is equal-weighted across those companies and carries its own as-of date.

1. Hindalco Industries Ltd₹2 lakh cr
2. National Aluminium Company Ltd₹57,800 cr
3. Synthiko Foils Ltd₹2,480 cr
4. Belding India Ltd₹1,220 cr
5. ANB Metal Cast Ltd₹443 cr
6. Alufluoride Ltd₹438 cr

6 Aluminium companies in the Aluminium industry group have a page on Sector Alpha, by market value as of 30 October 2026, and all 6 are listed below, largest first. The largest is Hindalco Industries (₹1.99 lakh crore) and the smallest with a market value is Alufluoride.

Download all 6 Aluminium companies (CSV)

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the last two years (104 weeks) this sector is 223% ahead of NIFTY 500. Earnings across its companies grew 38% on average over the last four reported quarters.

Price and the fundamentals both up. 0 of the 4 companies with a long enough price record pass the momentum test (5+ points ahead of the Nifty 500 over 3 months, within 20% of the 52-week high).

Not ahead of NIFTY 500 on the three-month view this week; 0 of the 4 companies in the industry index above their 200-day average (no change from four weeks earlier); 0 of those 4 pass the momentum test (1 fewer than four weeks earlier); earnings rising at 1 of the 3 that report earnings.

Participation is shrinking, 1 → 0 of 4 over four weeks, after being ahead of NIFTY 500. Earnings-led fade, only 1 of 3 members have higher trailing twelve-month earnings than a year ago, so the fade has the earnings behind it.

Both lines start at 200 in the same week, so the gap between them tells the story: the sector line is an equal-weighted index of 4 of its 6 companies (the 2 with too short a price record are ranked in the scorecard but cannot sit in this line). The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member set to 100 at the start and the sector taking the middle value, so a price line pulling away from flat bars means the market is paying more for the same earnings. A bar turns grey when that figure is lower than the quarter before. The rules are fixed and the same everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover or tap any point to read both values and the gap.

Aluminium has done better than the NIFTY 500 by 22.8% over the last 52 weeks. Over 13 weeks the gap is a lead of 6.7%. Hindalco Industries Ltd is the strongest against the sector itself at +1.2%.

Aluminium has done better than the NIFTY 500 by 22.8% over 52 weeks and by 6.7% over 13 weeks. 0 of 6 companies we track are beating the NIFTY on relative strength (how a share price has done against the index over recent months) (3 have no relative-strength reading yet), and 1 of the 2 with a long enough price history is ahead of the industry itself.

A score that ranks each company against the others in its industry. The four parts shown always add up to the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or old evidence affects only its own part, never as a hidden adjustment.

Alufluoride Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 85% evidence confidence.

Ranked last: too little evidence (2 companies)

Under 60% of the evidence behind these scores is available, so they rank after every company above, whatever the score.

National Aluminium Company Ltd has the strongest one-year price move in Aluminium at +34.3%. Alufluoride Ltd leads on relative strength against the NIFTY, at +19.8%. 1 of 6 companies we track is ahead of the index on that measure (3 have no relative-strength reading yet). Every line covers 313 weekly closes through 30 October 2026.

Price and relative strength

Price · same starting point: Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts: the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

RS vs NIFTY 500: How far ahead of or behind NIFTY 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS NIFTY 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.

RS vs sector: The same measure taken against Aluminium itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.

Biggest one-year moves

Strongest against NIFTY 500

Strongest against the sector itself

1 of 4 Aluminium companies held a results call for July to September 2026. Vedanta Aluminium Metal guided: BALCO potline 3 to full 435 KTPA run rate by March exit with final zones in Q3-Q4.

From the results calls for July to September 2026.

Big funds, foreign and Indian, raised their stake by 1.7 points over the last two quarters. Founders and promoters raised theirs by 0.9 points.

• Spending on new plants and equipment was ₹30,025 crore in the last 12 months, 5% more than a year before.
• Projects still being built grew 73% in a year.

Big funds = foreign and Indian institutions, change in their share of ownership across 5 Aluminium companies, in percentage points.

Ownership and spending as of 10 October 2026.

This is the written read behind the Aluminium figures above: what is actually happening in the industry, in words, with the evidence each claim rests on. It is dated 17 Apr 2026, so the words are older than the numbers. 5 themes are live here, 2 of them rated high severity.

The sector is navigating severe input cost inflation and geopolitical trade barriers. While NATIONALUM demonstrates margin expansion through volume growth and AMCL scales post-IPO, HINDALCO's earnings contraction highlights the vulnerability to external shocks. The aggregate outlook remains NEUTRAL until commodity headwinds subside.

The Aluminium sector presents a MIXED demand environment, with 1 constituent reporting IMPROVING conditions and 2 reporting MIXED. Aggregate profitability is divergent; AMCL reported a 92% YoY PAT growth to ₹10 Cr, and NATIONALUM saw a 20% EBITDA margin expansion on a 9-month basis.

How old this read is: OLD: this read comes from our Aluminium sector brief dated 17 Apr 2026, about 7 months ago. The page says so rather than dressing it up, and a fresh sector dive replaces it the day it runs.

What is live in this sector right now

Sources: our Aluminium sector brief, 17 Apr 2026 · company earnings-call transcripts.

Hindalco Industries Ltd has the highest Revenue among the 6 Aluminium companies compared here, at ₹2,95,537 crore. National Aluminium Company Ltd is next at ₹19,338 crore. The same company also has the highest Revenue growth, at 20.3%. 4 of 6 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Hindalco Industries Ltd is the largest at ₹2,95,537 crore, 15.3× the revenue of National Aluminium Company Ltd. Hindalco Industries Ltd's growth is 20.3% from a ₹2,95,537 crore base, with 20 reported quarters out of the last 20. Fast growth from a smaller base is not yet the same as proven size.

What this means: Hindalco Industries Ltd is both the largest and the fastest-growing company here; the growth has to turn into margin and returns before it counts as more than a fast start.

This conclusion weakens if: Hindalco Industries Ltd's revenue growth slows for two consecutive comparable reports while its operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenue · company comparison

Revenue · largest

Revenue growth · fastest growers

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Revenue shows both size and speed. A large company can absorb shocks and pay for wide distribution; faster growth can mean market-share gains, new capacity or stronger demand. The best sign is usually growth that lasts without hurting margins and returns.

National Aluminium Company Ltd has the highest OPM among the 6 Aluminium companies compared here, at 51%. Alufluoride Ltd is next at 17.1%. The same company also has the highest Margin change, at +12 percentage points. 4 of 6 companies report a comparable reading, the latest through Jun 2026. Its OPM series carries 20 reported observations across the 20-quarter window.

What the numbers say: National Aluminium Company Ltd leads both opm at 51% and margin change at +12 percentage points.

What this means: National Aluminium Company Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

Operating margin · company comparison

OPM · highest

Margin change · fastest expanders

All-company data · latest reported quarter

Hindalco Industries Ltd has the highest Net profit among the 6 Aluminium companies compared here, at ₹16,400 crore. National Aluminium Company Ltd is next at ₹6,750 crore. Belding India Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Hindalco Industries Ltd earns the most, ₹16,400 crore of profit over the last 12 months, 143% above National Aluminium Company Ltd. Belding India Ltd shows at least 100% on the scoring scale (106.4% in full) growth from a profit base of ₹1 crore. A fast rate from a small base matters less than a large profit that keeps coming.

What this means: Hindalco Industries Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profit · company comparison

Net profit · largest

Profit growth · fastest growers

All-company data · latest reported quarter

National Aluminium Company Ltd has the highest ROCE among the 6 Aluminium companies compared here, at 39.6%. ANB Metal Cast Ltd is next at 29.6%. Alufluoride Ltd has the highest ROCE change at +2.3 percentage points, so level and change sit with different companies. 5 of 6 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: National Aluminium Company Ltd leads ROCE at 39.6%, 10 percentage points above ANB Metal Cast Ltd. A high return reported once may be one good year; a high return reported year after year shows a lasting business.

What this means: National Aluminium Company Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

Return on capital · company comparison

ROCE · highest

ROCE change · fastest improvers

All-company data · latest reported quarter

National Aluminium Company Ltd has the lowest PEG among the 6 Aluminium companies compared here, at 0.19×. Alufluoride Ltd is next at 0.34×. The same company also has the lowest P/E, at 8.56×. 3 of 6 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: National Aluminium Company Ltd has the lowest comparable PEG at 0.19×, 44.1% below Alufluoride Ltd. That would need today's multiple, the company's own history and steady growth to agree.

What this means: A low valuation is a reason to look closer at the business, not a conclusion on its own.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is worked out the same way every time, as the P/E on the last 12 months of reported earnings divided by that growth rate, never on expected earnings. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

Valuation · company comparison

PEG · lowest PEG

P/E · lowest P/E

All-company data · latest reported quarter

Aluminium companies show up on 4 of our India lists. The most are on the copper & metal stocks list (2 companies).

This Aluminium comparison names 5 specific ways its own evidence can mislead, all listed below. 1 of the 6 companies reports on an older date than the sector's freshest reporters, so its rank is marked stale. A high growth rate can still come from a very small starting figure.

Keep these limits visible

• A high growth rate can come from a very small starting figure. The page keeps level and change separate for that reason.
• A high ROCE can be temporary, or look high because the capital base is small. It is best read beside margin, cash flow and how much is spent back on the business.
• The 4-Factor Sector Score ranks published data only. Management quality, upcoming events and risks are not part of it.
• An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
• 1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.

This comparison is built from the reported filings of 6 Aluminium companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 30 October 2026.

Every company's second-feed figures reconcile against the primary source on overlapping reported periods, so nothing here is unverified or withheld.

These 24 answers restate the Aluminium comparison above in question form. Every one is computed from the same 6 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 30 October 2026. Nothing here is estimated, and none of it is a recommendation.