Hindalco arm Novelis reports Q4 loss as Oswego fires hit shipments, profitability

Novelis Inc., the wholly owned subsidiary of Hindalco Industries Ltd, reported a net loss of $84 million for the March quarter on May 19, compared with a profit of $294 million a year earlier, after fire incidents at its Oswego plant in the United States disrupted operations and hit profitability.The aluminium rolling and recycling major said profitability was significantly impacted by fires at its Oswego, New York facility in September and November 2025. The incidents led to production interruptions that reduced rolled product shipments by an estimated 73 kilotonnes, resulting in a negative impact of nearly $53 million on adjusted EBITDA.

The company also recorded pre-tax losses of $577 million linked to the fire-related disruptions during the quarter.
Excluding special items, net income attributable to shareholders stood at $227 million, down 13% year-on-year.
Adjusted EBITDA declined 3% year-on-year to $459 million, while rolled product shipments fell 12% to 844 kilotonnes. However, adjusted EBITDA per tonne shipped rose 10% year-on-year to $544, indicating stronger pricing and operational resilience despite lower volumes.Novelis President and Chief Executive Officer Steve Fisher said the company remains confident about demand for low-carbon, high-recycled-content aluminium and is focused on operational execution, including restarting the Oswego hot mill and commissioning its Bay Minette aluminium plant.

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The company said recovery efforts at the Oswego plant have progressed well and the hot mill is expected to restart within the next few weeks, ahead of its earlier timeline of end-June.

Novelis is one of the world’s largest aluminium rolling and recycling companies and a key subsidiary of Hindalco Industries, supplying aluminium products across automotive, beverage packaging, aerospace and speciality markets.