Hindalco Industries Limited has disclosed significant financial impacts from fire incidents at its subsidiary Novelis Inc.'s Oswego plant in New York. The aluminum major provided comprehensive updates on the incidents and their expected financial implications under regulatory disclosure requirements.

Fire Incident Details and Timeline

The Oswego facility experienced two separate significant fires affecting the hot mill area. The first incident occurred on September 16, 2025, followed by a second fire on November 21, 2025. All employees were safely evacuated during both incidents with no reported injuries. While the fires were contained to the hot mill area, all other critical assets at the facility remain operational and unaffected.

Financial Impact Assessment

Novellis has estimated the total financial impact from both fire incidents, with significant implications for free cash flow and operational performance. The company projects a total free cash flow impact of $1.3-1.6 billion before insurance recoveries. This comprehensive estimate includes expected repair costs, operational downtime, working capital timing adjustments, costs to serve customers and associated tariffs, and other recovery-related expenses.

Insurance Coverage and Recovery

The company expects substantial insurance recovery to offset the financial impact. Novelis estimates that approximately 70-80% of the free cash flow and Adjusted EBITDA impact will be recoverable through insurance coverage. However, the company has noted that insurance recovery is subject to various conditions, including insurers' rights to investigate and contest coverage, policy restrictions and sub-limits, and potential coverage disputes.

Operational Recovery Timeline

Novellis has provided a timeline for restoring full operational capacity at the Oswego facility. The estimated timeline to restart the Oswego hot mill is late Q2 calendar 2026. During the recovery period, the company is working closely with customers and leveraging its global manufacturing presence along with external suppliers to minimize customer impact and maintain service levels.

Q3 FY26 Performance Impact

The fire incidents have already affected Novelis' financial performance in Q3 FY26. The company reported net sales of $4.2 billion, up 3% year-over-year, despite operational challenges. However, total FRP shipments declined 11% to 809kt, with an estimated 72kt lower than expected shipments directly attributable to the Oswego fires.

Regulatory Compliance and Disclosure

The update was filed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating the company's commitment to transparent communication with stakeholders. This disclosure follows previous intimations dated September 18, 2025, October 24, 2025, November 5, 2025, and November 21, 2025, providing ongoing updates on the situation's development.

Hindalco Industries Limited has announced an earnings conference call for its wholly owned subsidiary Novelis Inc. to discuss Q3FY26 financial results. The company informed stock exchanges about the scheduled call under Regulation 30 of SEBI Listing Regulations on February 5, 2026.

Conference Call Details

The earnings conference call is scheduled to take place following the announcement of Novelis Inc.'s financial results for the third quarter ended December 31, 2025. The call will begin with a management discussion and presentation on Q3FY26 earnings and performance, followed by an interactive question and answer session.

Registration and Access Information

Investors and analysts interested in participating can access the call through pre-registration links provided by the company. Upon registration, participants will receive dial-in information and a unique PIN to join the call, along with email confirmation containing all relevant details. A live webcast option will also be available for those who prefer to view slides and listen without participating in the discussion.

Presentation materials will be made available online at the Novelis investor relations website. For additional information regarding the earnings call, participants can contact Subir Sen, Head of Investor Relations at Hindalco Industries Limited.

About Novelis Inc.

Novellis Inc. operates as a wholly owned subsidiary of Hindalco Industries Limited and serves as a global leader in aluminum products and solutions. The company holds the distinction of being the world's largest aluminum recycler and focuses on providing low-carbon, sustainable aluminum solutions across multiple industries.

The company operates with a mission of shaping a sustainable world and aims to achieve a fully circular economy through partnerships with suppliers and customers. Novelis serves various industries including aerospace, automotive, beverage can manufacturing, and specialty applications across its global operations in North America, Europe, Asia, and South America.