Hindalco Industries Limited has informed the Exchange about Investor Presentation
HINDALCO · price
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Hindalco's US subsidiary Novelis reported Q2FY26 results: Net sales rose 10% YoY to $4.7 billion, but Adjusted EBITDA fell 9% to $422 million due to a $54 million net negative tariff impact and higher scrap prices. Adjusted EBITDA per tonne declined 8% to $448, though excluding tariff impact it was a healthier $506/tonne. Net income attributable to common shareholder grew 27% YoY to $163 million, helped by favorable metal price lag. A September 16 fire at the Oswego, NY plant is expected to hit FY26 free cash flow by $550-650 million (70-80% insured), with hot mill restart targeted for December 2025. Management raised its cost efficiency savings target to over $125 million run-rate by FY26 end (from $100M+) and is targeting $300M+ by FY28. The Bay Minette greenfield project in Alabama remains on track, with total cost now estimated around $5 billion and full commissioning slated for 2H CY2026.
Near-term outlook is mixed — top-line growth and strong order momentum are offset by tariff drag, the Oswego fire disruption, and capex-heavy investments. For Hindalco shareholders, the raised cost-savings target and progress on the Bay Minette expansion are positive long-term signals, but rising leverage (3.5x vs 2.9x) and near-term cash flow pressure from the fire may weigh on sentiment.