Novelis FY26 profit drops 98% amid Oswego plant fire impact

Novelis reported FY26 net sales growth of 7% YoY to USD 18.4 billion, while net income attributable to shareholders declined 98% to USD 15 million. The company stated that performance was impacted by Oswego plant fires and tariff-related pressures. Novelis also highlighted progress in Bay Minette plant commissioning and cost-saving initiatives targeting USD 350-400 million by FY28.