Novelis Oswego Fire: Hindalco Details Restoration Efforts

Hindalco Industries Limited reported an update on the fire incident at the Novelis Plant in Oswego, New York, which occurred on September 16, 2025. The company estimates approximately 70-80% of the insurance amount claimed for the loss or damage will be recoverable in future periods.

For Q2FY26, Hindalco recognized $21 million in related charges due to the incident. The estimated negative free cash flow impact for FY2026 is between $550-650 million, including an Adjusted EBITDA impact of $100-150 million.

Extensive restoration efforts are underway to return the plant to normalcy. The Hot Mill is projected to restart by the end of December 2025, with a subsequent 4-6 week production ramp-up period.