Transcript - Q1 FY27 Earnings call

AI summary - Consolidated Q1 FY27 EBITDA up 58% y-y at INR13,481 Cr; PAT up 75% y-y at INR7,013 Cr - India upstream aluminum EBITDA at record INR7,390 Cr, 81% y-y; EBITDA margin 55%, EBITDA per ton USD2,331 - Novelis shipments down 5% y-y; adjusted EBITDA $516M, $563/ton, up 24-30% y-y; cost savings $225M run rate - India copper EBITDA up 36% y-y at INR918 Cr despite planned shutdown; EBITDA per ton ~$1,000 excluding shutdown - Capex progressing: Aditya Alumina refinery and smelter expansions on track; captive coal mines Chakla and Bandha ramping - Novelis Oswego mill restarted; tariff impact of $70M persists but expected to reduce as supply chain normalizes - Consolidated net debt/EBITDA at 1.95x; Novelis leverage expected below 4x by Q4 FY27 - Downstream aluminum EBITDA per ton sustainable around $250-$300; downstream EBITDA targeted to quadruple by FY30 - Sustainability: 470 MW renewable capacity, 80% waste recycled, water efficiency improved, biodiversity initiatives ongoing