Hindalco Industries Limited — Investor Meet, 06-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Hindalco's subsidiary Novelis Q2 FY26 call reported net sales up 10% to $4.7B. Adjusted EBITDA fell 9% to $422M, including a $54M net negative tariff impact. Excluding tariffs, Adj. EBITDA per ton was $506. Novelis accelerated its cost efficiency program, targeting over $125M in run rate savings by FY26 end. The Oswego plant fire is estimated to cause $550M-$650M in negative H2 FY26 free cash flow (70-80% insurable) and a $100M-$150M Q3 EBITDA hit, with hot mill restart expected December. Bay Minette plant cost is now estimated at $5B, with commissioning starting next quarter. Parent Hindalco will infuse $750M equity. Management expresses confidence in underlying demand and mitigation efforts.