Trading Window Closure

The trading window for dealing in the company's securities shall remain closed until 48 hours from this announcement.

Standalone Financial Results (Quarter ended June 30, 2026)

Income Statement Highlights:

  • Revenue from operations: ₹30,515 crore (Q1 FY26: ₹24,264 crore)
  • Other income: ₹345 crore (Q1 FY26: ₹313 crore)
  • Total income: ₹30,860 crore (Q1 FY26: ₹24,577 crore)
  • Cost of materials consumed: ₹19,669 crore
  • Employee benefits expense: ₹740 crore
  • Power and fuel: ₹2,128 crore
  • Finance cost: ₹285 crore
  • Depreciation and amortization: ₹626 crore
  • Profit before tax: ₹6,419 crore (Q1 FY26: ₹2,724 crore)
  • Tax expense: ₹1,635 crore (Current: ₹1,524 crore, Deferred: ₹111 crore)
  • Profit for the period: ₹4,784 crore (Q1 FY26: ₹1,862 crore)
  • Other comprehensive income: ₹3,917 crore
  • Total comprehensive income: ₹8,701 crore

Key Metrics:

  • Earnings per share (Basic): ₹21.54 (Q1 FY26: ₹8.38)
  • Earnings per share (Diluted): ₹21.49 (Q1 FY26: ₹8.37)
  • Paid-up equity share capital: ₹222 crore
  • Other equity: ₹85,215 crore

Consolidated Financial Results (Quarter ended June 30, 2026)

Income Statement Highlights:

  • Revenue from operations: ₹84,825 crore (Q1 FY26: ₹64,232 crore)
  • Profit before share in profit/loss in equity accounted investments, exceptional items and tax: ₹11,686 crore
  • Share in profit/loss in equity accounted investments: ₹6 crore
  • Profit before exceptional items and tax: ₹11,692 crore
  • Exceptional expenses (net): ₹2,299 crore
  • Profit before tax: ₹9,393 crore (Q1 FY26: ₹5,676 crore)
  • Tax expense: ₹2,380 crore (Current: ₹2,595 crore, Deferred: ₹-215 crore)
  • Profit for the period: ₹7,013 crore (Q1 FY26: ₹4,004 crore)
  • Other comprehensive income: ₹8,500 crore
  • Total comprehensive income: ₹15,513 crore

Key Metrics:

  • Earnings per share (Basic): ₹31.58 (Q1 FY26: ₹18.03)
  • Earnings per share (Diluted): ₹31.49 (Q1 FY26: ₹18.00)
  • Paid-up equity share capital: ₹222 crore
  • Other equity: ₹151,759 crore

Segment Performance (Quarter ended June 30, 2026)

Segment Revenue:

  • Novelis: ₹54,763 crore
  • Aluminium upstream: ₹13,403 crore
  • Aluminium downstream: ₹4,889 crore
  • Copper: ₹17,232 crore
  • Total segment revenue: ₹90,287 crore

Segment Results:

  • Novelis: ₹4,874 crore
  • Aluminium upstream: ₹7,390 crore
  • Aluminium downstream: ₹298 crore
  • Copper: ₹918 crore
  • Total segment results: ₹13,480 crore

Legal Matter Update

Basis allegations of misutilization of coal mined in a mine deallocated in 2014-15, a chargesheet was filed by the Central Bureau of Investigation (CBI). On April 9, 2025, the Hon'ble Special Judge (Prevention of Corruption Act) issued summons to the Company. Upon consideration of the material on record and the submissions of parties, the Hon'ble Special Court, by order and judgment dated May 30, 2026, discharged the Company and all other accused from the proceedings.

Novelis Financing Updates

1. On June 16, 2026, Novelis amended the ABL Revolver facility to enhance the maximum revolving amount by US $500 million to an aggregate total of US $3.0 billion. Novelis incurred US $8 million of financing fees for this modification.

2. During the quarter, Novelis entered into an uncommitted revolving facility agreement with MUFG Bank Ltd., GIFT Branch, for loans and advances up to US $500 million, including a Euro sub-limit of Euro 200 million. The facility carries interest at "Term SOFR or EURIBOR" plus a margin of 1.15%.

3. On July 23, 2026, Novelis entered into a term loan facility aggregating to US $500 million (the "2026 Term Loan Facility") with MUFG, DBS, Credit Agricole and BNP Paribas. The facility matures on July 24, 2028 and carries interest at Term SOFR plus 1.00% per annum.

Exceptional Items

During the financial year ended March 31, 2026, Novelis' plant in Oswego, New York, was impacted by two significant fire incidents. During Q1 FY27, costs associated with this event amounting to ₹2,299 crore (US $244 million) have been recorded as exceptional expenses, net of insurance proceeds for property and other insurance recoveries. Business interruption recoveries of ₹447 crore (US $47 million) related to the Oswego fire are recorded under 'Other Income'.

Entities Included in Financial Statements

The financial results include numerous subsidiaries, joint operations, trusts, joint ventures, and associates as detailed in Annexure A and Annexure-1 of the disclosure, including Novelis Inc. and its extensive global subsidiary network.

Auditor Review

The financial results were reviewed by Price Waterhouse & Co Chartered Accountants LLP, who issued an unmodified conclusion on both standalone and consolidated results.

Additional Notes

  • Figures for the quarter ended March 31, 2026, are balancing figures between audited full-year figures and published year-to-date figures up to the third quarter
  • Previous period figures have been regrouped/reclassified where necessary
  • Segment information as per Ind AS 108 is provided only in consolidated results