Hindalco Industries Estimates 70-80% Recovery through Insurance for Oswego Plant Fire Incident

Hindalco Industries Ltd. has provided an update on the fire incident at the Novelis Plant in Oswego, New York on September 16, 2025. The company estimates that approximately 70-80% of the loss/damage will be recoverable through insurance in future periods. In Q2FY26, $21 million in related charges were recognized due to the incident. The company expects the Hot Mill to restart by end-December 2025, followed by a 4-6 week production ramp-up. The fire incident is expected to have a negative free cash flow impact of ~$550-650 million in FY2026, including an Adjusted EBITDA impact of ~$100-150 million.