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What is the story about?
Novelis on Wednesday, November 5, said it expects the free cash flow for the current financial year to be negatively impacted by $550 million to $650 million due to fire incident at its plant in New York in September.
This includes $100 million to $150 million impact in adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), according to a regulatory filing.
A company’s free cash flow, accounted after deducting capital as well as operating expenses, is meant for discretionary spending.
Novelis is a subsidiary of Hindalco Industries Ltd, which is the metals flagship company of the Indian multinational conglomerate, the Aditya Birla Group.
In a filing to BSE, Hindalco said that extensive restoration efforts have been taken at the fire-hit plant to return to normalcy.
Also Read: Hindalco's Novelis plant in New York catches fire, no injuries reported; Production halted
"The Hot Mill is expected to restart by end-December 2025, followed by a 4-6 week of production ramp-up," the filing said.
In September Hindalco Industries had said the production at its plant in New York has been halted following a fire accident.
The company had added that it is investigating the cause of the fire and determining the impact on its operations.
Hindalco Industries had said, "There was a fire incident at the Novelis Plant in Oswego, New York, on September 16, 2025." The plant is insured for property damage and business interruption losses related to such events, subject to deductibles and policy limits, the company had said.
Novelis is a leading producer of flat-rolled aluminum products and a re-cycler of aluminum.
This includes $100 million to $150 million impact in adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), according to a regulatory filing.
A company’s free cash flow, accounted after deducting capital as well as operating expenses, is meant for discretionary spending.
Novelis is a subsidiary of Hindalco Industries Ltd, which is the metals flagship company of the Indian multinational conglomerate, the Aditya Birla Group.
In a filing to BSE, Hindalco said that extensive restoration efforts have been taken at the fire-hit plant to return to normalcy.
Also Read: Hindalco's Novelis plant in New York catches fire, no injuries reported; Production halted
"The Hot Mill is expected to restart by end-December 2025, followed by a 4-6 week of production ramp-up," the filing said.
In September Hindalco Industries had said the production at its plant in New York has been halted following a fire accident.
The company had added that it is investigating the cause of the fire and determining the impact on its operations.
Hindalco Industries had said, "There was a fire incident at the Novelis Plant in Oswego, New York, on September 16, 2025." The plant is insured for property damage and business interruption losses related to such events, subject to deductibles and policy limits, the company had said.
Novelis is a leading producer of flat-rolled aluminum products and a re-cycler of aluminum.
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