Hindustan Copper Q2 earnings: Another strong quarter for Miniratna firm? What Anand Rathi expects

Shares of Hindustan Copper will be among key stocks to track when market reopens on Wednesday. BSE and NSE are closed on account of Diwali Balipratipada today. The PSU sector firm will report its Q2 earnings on November 11.

According to brokerage Anand Rathi, Hindustan Copper's net profit is seen rising 118.7% as copper prices, higher volumes drive growth. The brokerage says that Hindustan Copper is expected to report strong earnings growth, supported by higher metal-in-concentrate (MIC) sales volumes, elevated copper prices and rupee depreciation, according to the estimates.

The Miniratna company's revenue is projected to rise to Rs 1144.5 crore from Rs 7,18 crore in Q2 of the previous fiscal, implying growth of 59.4%.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) are expected to increase to Rs 572.1 crore in Q2 from Rs 282.1 crore, marking a 102.8% rise over the period. EBITDA is projected to grow 12.7% from Rs 507.5 crore on a quarter on quarter basis.

Profit after tax (PAT) is estimated to climb to Rs 402 crore in Q2 from Rs 183.8 crore, translating into a rise of of 118.7%. The bottom line may rise 14.1% from Q1 profit of Rs 352.4 crore.

The EBITDA margin is expected to remain robust at around 50% in Q2 , although it is projected to moderate from 54.2% from the the preceding quarter. The PAT margin is estimated at 35.1%, compared with 37.6% in the previous quarter.

On the operational front, MIC sales volumes are projected to rise to 7,520 tonnes from 6,836 tonne on a year on year basis, representing an increase of 23.8%.

This improvement in volumes is expected to provide additional support to revenue growth.

Anand Rathi termed the stock as its top pick.

Key factors to watch

The trajectory of MIC sales volumes in the second half of FY27 will be an important monitorable, along with further improvement in copper yields. Management's outlook on copper prices will also be crucial in determining the company's growth and profitability.

Hindustan Copper's earnings outlook remains favourable, with higher sales volumes, elevated copper prices and currency depreciation expected to support strong revenue and profit growth. However, the sustainability of copper prices and the company's ability to improve production and sales volumes will remain key factors for investors to track.

Hindustan Copper share price 

Meanwhile, the stock ended 0.45% lower at Rs 429.85 apiece on Monday against Rs 431 apiece in the previous close. The stock hit a record high of Rs 759.20 on January 29, 2026 and fell to a 52 week low of Rs 308.60 on November 24, 2025.

The multibagger has delivered 222.83% returns in five years and zoomed 661% in ten years.

Q1 earnings 

State-owned Hindustan Copper reported a a profit of Rs 353 crore in Q1, a 163% jump from Rs 134 crore reported in the same period a year earlier.

Revenue from operations stood at Rs 936.5 crore, rising 81.4% from Rs 516.4 crore in the corresponding quarter of the previous fiscal year.