“The expansion of the Aditya Alumina refinery is progressing well, while coal production at the Chakla and Bandha captive coal mines is slated to start next calendar year. The Meenakshi captive coal mine will go online by FY29. Together, these initiatives are expected to reinforce the structural and cost advantages of our business,” Birla said.

For Novelis, the restart of the Oswego plant and the upcoming commissioning of Bay Minette in the second half of 2026, mark an important turning point, he said.

As Bay Minette ramps up, it will deepen Novelis’ presence in key end markets, particularly beverage packaging, automotive and specialty products, while strengthening its US. manufacturing footprint, Birla said. Taken together, these developments provide a clear pathway to the next phase of earnings growth and reinforce Novelis’ long-term ambition of achieving adjusted EBITDA per tonne of US$ 600, he said.

The phased expansion of the Aditya smelter, which will add 3,74,000 tonnes, is progressing on schedule, while a similar expansion at Mahan is under evaluation.

Together, these projects would take Hindalco’s aluminium smelting capacity to more than 2 million tonnes, he said.

“We are also scaling up our Copper business to meet rising domestic demand driven by electrification, renewable energy and infrastructure development. The inner grooved tubes facility at Vadodara has commenced operations and will steadily ramp up through the year,” he said.