162.5% profit growth, Rs 7,189 cr expansion: Is this copper stock still cheap?

Hindustan Copper, one of the only pure-play domestic firms focused on copper mining and related products, has once again benefited from robust LME copper rates.

Key points

• The average cost for LME copper was $13, 324.3 per tonne in the June 2026 quarter, a rise of 40% y-o-y.
• The stock had reached a 52-week high of Rs 759.2 on 29 January, 2026.
• The central administration had a 66.15% stake in Hindustan Copper at the end of the first quarter of FY27.
• In its annual report for FY25, Hindustan Copper has additionally highlighted India has highly limited copper ore reserves contributing regarding 0.2% of world copper reserves.
• Hindustan Copper has not yet published its annual report for FY26.

Meanwhile, the average cost for LME copper was $13, 324.3 per tonne in the June 2026 quarter, a rise of 40% y-o-y. Demand for copper on a global basis has been driven by a shift towards clean energy technology, digital infrastructure, electric mobility, AI data centres and advanced manufacturing sectors, among other industries. LME cost of copper is at present $ 14, 273 per tonne.

Meanwhile, the Hindustan Copper stock was down 7.3% to Rs 531.75 on Tuesday, with the central administration looking to sell up to 6% stake in the business via an offer-for-sale (OFS) at a floor cost of Rs 514. The central administration had a 66.15% stake in Hindustan Copper at the end of the first quarter of FY27.

Nevertheless, over the past one year the stock was an outperformer in tune with the global trend of robust investor interest in non-ferrous stocks – it has gained almost 125% as compared to a 4.9% decline in the Sensex. The stock had reached a 52-week high of Rs 759.2 on 29 January, 2026. The 0.12% Reality: India's Copper Dependency.

Hindustan Copper has not yet published its annual report for FY26. In its corporate presentation prior to this OFS, the PSU has highlighted 27, 421 tonne metal in concentrate in FY26, a seven-year production high, and a 9% y-o-y expansion. Additionally, it had 3.6 million tonnes of copper ore production for FY26, a expansion of 6% y-o-y.

In its annual report for FY25, Hindustan Copper has additionally highlighted India has highly limited copper ore reserves contributing regarding 0.2% of world copper reserves. Mine production is only 0.12% of world's production, whereas refined copper production is regarding 2% of world's production.

In short, 162.5% profit growth, Rs 7, 189 cr expansion: Is this copper stock still is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.