JKB Financial Services Ltd.

As on : 18-Sep-2025

Hot Pursuit
18-Sep-2025 10:27

Hindalco's subsidiary Novelis halts production at New York-based unit due to fire incident

Fortunately, there were no injuries resulting from the fire or the efforts to put it out.

Production is currently halted at the plant as the company investigates the cause of the fire and determines the extent of the impact on its operations.

The plant is insured for property damage and business interruption losses related to such events, subject to deductibles and policy limits.

Hindalco Industries is the world's largest aluminium company by revenues, and the world's second largest copper rods manufacturer (outside China). It operates across the value chain, from bauxite mining, alumina refining, coal mining, captive power plants and aluminium smelting to downstream rolling, extrusions, and foils.

The company's consolidated net profit rose 30% year-on-year to Rs 4,004 crore in Q1 FY26 from Rs 3,074 crore in Q1 FY25. Revenue from operations grew 13% to Rs 64,232 crore from Rs 57,013 crore a year earlier.

The scrip shed 0.45% to currently trade at Rs 746.60 on the BSE.

GET IN TOUCH