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Aluminum alloys are being used extensively in the automotive industry to meet the increasing requirements for light weighting. The remarkable strength to weight ratio offered by aluminum alloys combined with good formability makes them suitable for manufacturing of light weight vehicles. Aluminum alloys of 5xxx and 6xxx series are particularly more important for applications in automotive and aviation industries in which formability of sheet metals is critical. Edge formability is a measure of local formability and it is important for forming processes like stretch flanging. Hole flangeability of sheet metals is evaluated by determination of hole expansion ratio (HER) using a standard hole expansion test (HET). In the present work, numerical and experimental investigation of hole flangeability has been carried out on 1.6mm thick AA6061 alloy sheets. Numerical simulations have been carried out using two different work hardening laws (Swift and Voce). Failure prediction has been made using experimentally determined forming limit curve of AA6061 alloy sheets. HER and thickness have been predicted along the edge of the expanded hole by simulation. The maximum thinning has also been predicted analytically incorporating anisotropy. The predicted HER and thinning from analytical and FE simulation have been validated experimentally by performing hole expansion tests according to ISO 16630-2009 using a conical punch. The predicted results have been found out to be in a reasonably good agreement with the experimental results.