Novelis Q1 EBITDA rises 24%; brokerages see recovery upside for Hindalco
Novelis reported June-quarter net sales of $5.8 billion and adjusted EBITDA of $516 million, supported by aluminium prices, lower scrap costs and Oswego’s restart. Brokerages retained constructive views on Hindalco, while flagging elevated leverage and cash outflows ahead of capacity ramp-ups.
Hindalco’s Novelis reported stronger June-quarter revenue and EBITDA, aided by aluminium prices, lower scrap costs and Oswego’s restart. Brokerages retained positive or neutral views, citing Oswego recovery, Bay Minette capacity commissioning and cost savings, while flagging leverage and negative free cash flow.