Hindalco reports 16% FY26 net drop after Novelis Oswego fire
Hindalco Industries just reported a 16% drop in net profit for FY26, landing at ₹13,391 crore. The big reason? A fire at Novelis's Oswego plant in New York led to one-off expenses of nearly ₹7,000 crore.
Its fourth-quarter profits took an even bigger hit, down 51% compared with last year.
Hindalco plans ₹12,000 cr investment
Novelis is a huge part of Hindalco's business, making up almost 60% of its revenue.
Despite the disruption from the fire, Hindalco managed to boost overall revenue by 15%, thanks mainly to strong aluminum sales in India.
The Indian operations hit record EBITDA numbers, while Novelis saw a slight dip.
Looking ahead, Hindalco plans to invest ₹12,000 crore in FY27 and expects insurance will cover most costs from the fire, helping it bounce back faster and stabilize things for the future.