Satish Pai, Managing Director of Hindalco Industries, part of the Aditya Birla Group, expects 2026-27 (FY27) to be a strong year for its US subsidiary Novelis, which is targeting $500 per tonne earnings before interest, taxes, depreciation, and amortisation (EBITDA) as operations normalise after recent disruptions.

Speaking after Hindalco announced its July–September 2025 quarterly results on November 7, 2025, Pai said Novelis’ Oswego mill, affected by a fire earlier in the year, will restart in the first week of December, helping the fourth quarter deliver stronger results. “Q3 will be the quarter that takes the brunt of the Oswego fire… so Q4 Novelis will come back very strong,” he said. “We expect 2026-27 to be a very good year for Novelis.”

He added that Novelis’ underlying busin

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