Link: https://links.sgx.com/1.0.0/corporate-announcements/T0F2355EEC5U9BMQ/0defdecb25fd63d19fe77e9c4a2567e8d5431f8913b735ccc41c80661a43884a

Summary:

• Revenue climbed to $9.367 billion in the six months ended September 30, 2025, up 8% year-on-year, fueled by Konkola Copper Mines consolidation, higher aluminium and zinc international production, and improved commodity prices

• EBITDA increased 6% to $2.752 billion with an adjusted margin of 36%, while operating profit declined 5% to $1.829 billion primarily due to higher depreciation post-KCM consolidation

• Aluminium business delivered highest-ever half-yearly production of 1,222 kt, with record value-added product sales at 707 kt representing 58% of total mix; first metal produced from BALCO's new 525 kA smelter

• Zinc India achieved best-ever first-half mined metal production of 523 kt with cost of production at 5-year low of $1,002 per tonne, down 8% year-on-year; Zinc International production surged 44% to 117 kt driven by Gamsberg's 63% volume increase

• Net debt stood at $11.4 billion with debt-to-EBITDA ratio maintained at 2.0x; S&P upgraded credit outlook to B+/Positive from B+/Stable following successful $500 million bond issuance and balance sheet deleveraging

• Company contributed $3.5 billion to exchequer in H1 FY2026; ESG performance strengthened with HZL retaining #1 global ranking in S&P CSA 2025 for Metals & Mining sector for third consecutive year

• Free cash flow post-capex declined to $26 million from $632 million prior year; company invested $0.9 billion in growth capex including Lanjigarh alumina expansion and power capacity additions totaling 1.3 GW