Novelis posts 25% sales growth in fiscal Q2 2027 as EBITDA rises 20%

Novelis reported net sales of USD 5.9bn for the quarter ended September 2026, up 25% year on year on higher aluminium prices, though rolled product shipments fell 2% to 919 kilotonnes. Adjusted EBITDA rose 20% to USD 508m, helped by USD 39m of insurance recoveries tied to the 2025 Oswego fire, while the company burned USD 1.8bn of adjusted free cash flow in the first half on continued spending at its Bay Minette, Alabama greenfield project.

Why this mattersA USD 1.8bn first-half cash outflow shows the cost of adding North American rolling and recycling capacity at Bay Minette before commercial shipments begin in fiscal 2028.

• Net sales rose 25% year on year to USD 5.9bn in fiscal Q2 2027 (quarter ended September 2026).
• Rolled product shipments fell 2% to 919 kilotonnes, with beverage packaging and aerospace volumes up but automotive and specialty down.
• Adjusted EBITDA increased 20% to USD 508m, including USD 39m of Oswego business-interruption insurance recoveries.
• Net income attributable to common shareholders grew 29% to USD 210m.
• First-half adjusted free cash flow was an outflow of USD 1.8bn, against an outflow of USD 499m a year earlier, driven by Bay Minette capital spending.
• The Bay Minette, Alabama greenfield rolling and recycling plant produced its first cold-mill coil in September 2026, with commercial shipments targeted for Q1 fiscal 2028; net leverage stood at 4.7x with USD 2.0bn total liquidity.

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