On the segmental front, Novelis revenue was Rs 36,663 crore (up 9% YoY), Aluminium Upstream revenue was Rs 10,620 crore (up 6% YoY), Aluminium Downstream revenue was Rs 3,909 crore (up 22% YoY) and Copper revenue was Rs 18,233 crore (up 33% YoY).

EBITDA rose by 5% to Rs 8,543 crore in Q3 FY26 from Rs 8,108 crore in Q3 FY25.

The company recorded an exceptional charge of Rs 2,610 crore in Q3 FY26.

Hindalco said that on 20 November 2025, Novelis' plant located in Oswego, New York, was impacted by another major fire apart from an earlier reported fire that occurred on 16 September 2025. The fire was contained to the hot mill and did not impact the rest of the plant.

Novelis expects to incur costs related to repairs, clean-up and other costs related to this event until the operations are fully-restored at the facility. The plant is insured for property damage and business interruption losses related to such events, subject to deductibles and policy limits.

The costs associated with both the events have been recorded as exceptional expenses (net of insurance proceeds) amounting to Rs 2,610 crore during the quarter ended 31 December 2025.

Profit before tax in Q3 FY26 stood at Rs 2,829 crore, down by 47% from Rs 5,296 crore recorded in Q3 FY25.

Hindalco stated that the impacts of Oswego disruption were partly offset by cost efficiency benefits at Novelis, and record profits by the India business.

The India business continued to outperform on the back of favourable macros coupled with the company's focus on resource security, value enhancement through new product development, and operational efficiencies.

Novelis registered an improvement of 6% in EBITDA per tonne despite lower volumes due to the Oswego disruption, reflecting its focus on cost-optimisation and operational excellence.

Satish Pai, managing director, Hindalco Industries, said: 'We made strong progress across our downstream portfolio with the commissioning and ramping up of key projects including Aditya FRP, battery foil, AC fin-coating, and Copper tubes, positioning us well for emerging growth opportunities.

We have entered the next phase of growth with a clear roadmap to expand upstream capacities across alumina, aluminium and copper with aluminium capacity planned to scale up from 1.3 million tonnes to 1.7 million tonnes, and copper smelting capacity from 400 KT to 700 KT.

Novelis' underlying performance remains strong despite short-term capacity constraints from the Oswego disruption. The 600 KT Bay Minette project, on track for commissioning in the second half of FY27, will be a key growth driver.'

Hindalco Industries is the metals flagship company of the Aditya Birla Group. A $28 billion metals powerhouse, Hindalco is the world's largest aluminium company by revenues, and the world's second largest copper rods manufacturer (outside China).

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