1. Company Information:

Hindalco Industries Limited (“the Company”), bearing Corporate Identity Number L27020MH1958PLC011238, is a public limited company incorporated in India in the year 1958. The Company is domiciled in India and its registered office is at 21st Floor, One Unity Center, Senapati Bapat Marg, Prabhadevi, Mumbai 400013. The equity shares of the Company are listed on the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) and its Global Depositary Receipts (GDR) are listed on the Luxembourg Stock Exchange.

The Company along with its subsidiaries has manufacturing operations in ten countries including India spread over four continents viz North America, South America, Asia and Europe. The Company is primarily engaged in two main streams of business, namely Aluminium and Copper.

In the Aluminium business, the Company has presence across the entire value chain starting from mining of bauxite and coal through production of primary Aluminium (Upstream Segment) and value added products (Downstream Segment) like flat rolled product, extrusion and light gauge products for use in various applications like packaging, can, foil, battery enclosures, food and beverage as well as products for use in aerospace, automotive, electronic, electric vehicle, transportation, pharmaceutical, renewable energy, building and construction and other industrial products.

In the Copper business, the Company has one of the largest single location Copper smelting facility in India. The Company produces copper cathode, copper rods and precious metals. The Company is also expanding its business horizon in Internally Grooved Copper Tube and Copper Scrap Recycling.

The standalone financial statements (“the financial statements”) which have been approved for issue by the Board of Directors of the Company in their meeting held on May 22, 2026 presents the financial position, financial performance, statement of changes in equity and statement of cash flows of the Company as well as its interest in the Joint Operations and trusts controlled by the Company.

1A. Joint operations :

The Company is engaged in various arrangements on a joint basis with other companies. The principal place of business is also their country of incorporation for all the joint operations. In assessing whether joint control exists for these arrangements, the management evaluates the structure and legal framework and contracts governing the arrangement combined with an assessment of those decisions that significantly influence the return from the arrangement. The Company assesses whether joint arrangements are joint operations where the Company has rights to the assets and obligations for the liabilities related to the arrangement, or a joint venture where the Company has an interest in the net assets of the joint arrangement. Accordingly, the following joint arrangements have been identified as joint operations:

Proportionate share of total assets, liabilities and total comprehensive income in joint operations are included in the standalone financial statements.

i. The Company and Essar Power M.P. Limited (‘EPMPL’) has joint control over Mahan Coal Limited (‘MCL’), a coal mining company. The coal blocks of MCL had been deallocated.

ii. The Company and Tata Power Company Limited (‘TPL’) has joint control over Tubed Coal Mines Limited (‘TCML’), a coal mining company. The coal blocks of TCML had been deallocated.

iii. The Company and Grasim Industries Limited have joint control over Renukeshwar Estates LLP, Mangalyaan Estates LLP, Shambhavnath Estates LLP and Chandanprabhu Estates LLP which operates in Real estate sector.

1B. Interest in Trusts controlled by the Company:

The following trusts have been considered as an extension of the Company and are included in these standalone financial statements:

2. Basis of Preparation and Accounting Policy Information

The basis of preparation and the material accounting policies have been applied consistently to all the periods presented in the standalone financial statements, except where newly issued accounting standard are initially adopted or a revision to an existing accounting standard requires change in accounting policy hitherto in use.

Compliance of Ind AS

The standalone financial statements comply in all material aspects with the Indian Accounting Standards (“Ind-AS”) as prescribed under section 133 of the Companies Act 2013 (“the Act”), other relevant provisions of the Act as notified under the Companies (Indian Accounting Standards) Rules, 2015, (including subsequent amendments) and other accounting principles generally accepted in India.

2A. Basis of preparation

The standalone financial statements have been prepared and presented on the going concern basis using accrual basis of accounting and under the historical cost convention except for following assets and liabilities which are measured at fair value:

• Derivative financial instruments; see Note 5F for accounting policy

• Certain financial assets and liabilities; see Note 5, 12, 18 and 35 for accounting policy

• Assets held for sale; see Note 9 for accounting policy

• Employee’s defined benefit plan assets and liabilities; see Note 14B for accounting policy

• Liability for cash Settled share-based payments; see 14B(B)(b) for accounting policy

• Inventories those are designated in a fair value hedge relationship; see Note 8A, 5F for accounting policy

• Assets and liabilities designated as hedged items in fair value hedges that would otherwise be carried at amortised cost are adjusted to record changes in the fair values attributable to the risks that are being hedged in effective hedge accounting; see Note 5F for accounting policy

In preparing the financial statements, transactions in currencies other than the Company’s functional currency (foreign currencies) are recognised at the rates of exchange prevailing at the dates of the transactions. At the end of each reporting period, monetary items denominated in foreign currencies are translated at the rates prevailing at that date. Non-monetary items are measured at historical cost.

Exchange differences on monetary items are recognised in the statement of profit and loss in the period in which they arise, except for:

• eligible exchange differences on foreign currency borrowings relating to qualifying assets under construction are included in the cost of those assets when they are regarded as an adjustment to interest costs; and

• exchange differences on transactions entered into in order to hedge certain foreign currency risks (see Note 5F for accounting policies).

Changes in the fair value of non-monetary equity instruments irrevocably classified as fair value through other comprehensive income includes gain or loss on account of exchange differences.

The fair value of financial liabilities and financial assets denominated in a foreign currency are translated at the spot rate at the end of the reporting period. The foreign exchange component forms part of its fair value gain or loss. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was measured.

The Company has determined current and non-current classification of its assets and liabilities in the standalone financial statements as per the Company’s normal operating cycle, and other criteria set out in Schedule III of the Companies Act, 2013. Based on the nature of products and the time lag between the acquisition of assets for processing and their realisation in cash and cash equivalents, the Company has ascertained its normal operating cycle as 12 months for the purpose of current and non-current classification of its assets and liabilities.

The standalone financial statements have been presented in Indian Rupees (? ), which is the functional currency of the Company and the currency of the primary economic environment in which the Company operates. All financial information presented in Indian Rupees has been rounded off to nearest Crore Rupees (? 1 Crore = ' 10,000,000) without any decimal unless otherwise stated. Amounts below rounding off convention or equal to zero are represented as “-” in the standalone financial statements.

The Company determines materiality depending on the nature or magnitude of information, or both. Information is material if omitting, misstating or obscuring it could reasonably influence decisions made by the primary users, on the basis of those financial statements.

2B. Accounting policy information

The material accounting policies adopted in preparation of standalone financial statements have been disclosed in the pertinent note along with other information in italics. All accounting policies have been consistently applied to all the period presented in the standalone financial statements unless otherwise stated.

2C. Recent Accounting Pronouncements

a) New and amended standards adopted by the Company

The Ministry of Corporate Affairs (“MCA”) notified the Companies (Indian Accounting Standards) Second Amendment Rules, 2025 on 13 August 2025 (published in the Official Gazette on 19 August 2025). The following amendments as notified by the MCA have been applied by the company with effect from 01 April 2025 for the preparation and presentation of financial statement.

• Ind AS 1 (Classification of liabilities as current or non-current and non-current liabilities with covenants);

• Ind AS 7 and Ind AS 107 (Disclosures for supplier finance arrangements); and

• Ind AS 12 (Global implementation of OCED Pillar Two model rules).

• Ind AS 21 (Lack of Exchangeability)

The above amendments have no material impact on the financial statements for the period ended 31 March 2026.

b) New and amended standards issued but not effective -

In exercise of the powers conferred by section 133 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government in consultation with the National Financial Reporting Authority has issued certain amendments to the Indian Accounting Standards (Ind AS) that have not yet become effective for the Company’s reporting periods at the date of these financial statements. The Companies (Indian Accounting Standards) Second Amendment Rules, 2025, notified on 13 August 2025, include amendments that are effective for annual reporting periods beginning on or after 1 April 2026:

• Ind AS 1 — Presentation of Financial Statements: Further amendments on classification of liabilities as current or non-current, including requirements relating to breaches of loan covenants, grace periods, and disclosure of related risks (paragraphs 74, 75, 75A and 76).

The Company is in the process of evaluating the requirements of these amendments and their impact on the Company’s financial statements. The impact, if any, will be given effect to in the period of initial application.

3A. Property, Plant and Equipment

Property, plant and equipment held for use in the production or/and supply of goods or services, or for administrative purposes are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses except for freehold land (other than freehold land used for mining) which is carried at historical cost.

The present value of obligatory decommissioning cost related to assets are included in the initial cost of such assets. Cost may also include effective portion on qualifying cash flow hedges of foreign currency purchases of property, plant and equipment transferred from hedge reserve as basis adjustment.

Subsequent expenditure on major maintenance or repairs includes the cost of the replacement of parts of assets and overhaul costs. Where an asset or part of an asset is replaced and it is probable that future economic benefits associated with the item will be available to the Company, the expenditure is capitalised and the carrying amount of the item replaced is derecognised. Similarly, overhaul costs associated with major maintenance which can be measured reliably are capitalised and depreciated over their useful lives where it is probable that future economic benefits will be available and any remaining carrying amounts of the cost of previous overhauls are derecognised. All other costs are charged to profit and loss during the reporting period in which they are incurred.

The Company based on the technical assessment made by the technical expert/ management estimate, depreciates certain items of building, plant and equipment’s over the estimated useful lives which are different from the useful life prescribed in Schedule II to the Companies Act, 2013. The management believes that these estimated useful lives are realistic and reflect fair approximation of the period over which the assets are likely to be used.

The Company reviews the estimated residual values and expected useful lives of assets at least annually. In particular, the Company considers the impact of the health, safety and environmental legislation in its assessment of expected useful lives and estimated residual values. Furthermore, the Company considers environment-related matters, including physical and transition risks. Specifically, the Company determines whether environment-related legislation and regulations might impact either the useful lives or residual values.