Novelis Q2 FY27: Net Income Up 29% to $210M, Adj. EBITDA $508M
Novelis Inc. reported Q2 FY27 results with net income up 29% YoY to $210 million and Adjusted EBITDA up 20% YoY to $508 million. Net sales rose 25% to $5.9 billion, while shipments fell 2% to 919 kilotonnes. The company expects to return to positive free cash flow by end of FY27.
The results reflect strong financial performance of a major subsidiary, impacting Hindalco's overall financial health and investor perception.
The company reported significant year-over-year growth in net income and adjusted EBITDA, along with positive commentary on future outlook and cost efficiencies.
Novelis Inc., a wholly owned subsidiary of Hindalco Industries Limited, has reported its financial results for the second quarter of fiscal year 2027. The company announced a net income attributable to common shareholders of $210 million, marking a 29% year-over-year increase. Adjusted EBITDA also saw a significant rise of 20% to $508 million.
Net sales for the quarter increased by 25% to $5.9 billion, primarily driven by higher average aluminum prices, although total rolled product shipments decreased by 2% to 919 kilotonnes. The adjusted EBITDA per tonne shipped improved by 23% to $553.
The company received cumulative insurance recoveries of $519 million through the end of Q2 FY27, related to the 2025 Oswego fires. The new Bay Minette cold mill produced its first coil in September, with commercial shipments expected in the first quarter of fiscal year 2028.
Novelis's structural cost-efficiency initiative has achieved over $240 million in run-rate savings through Q2 FY27, with an anticipated $300 million by the end of FY27 and a target of $350-$400 million by the end of FY28. The company expects to return to a positive free cash flow position by the end of FY27 and anticipates a net leverage reduction to begin in Q4 FY27.
Novelis reported its results via a webcast and conference call on November 5, 2026, at 7:00 a.m. EST / 5:30 p.m. IST.
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