Vedanta Ltd
NSE:VEDL

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Vedanta Ltd
NSE:VEDL
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Price: 524.5 INR -0.97% Market Closed
Market Cap: 2T INR

Vedanta Ltd
Investor Relations

Vedanta Ltd., an Indian conglomerate, stands as one of the country's leading resources firms, deeply entrenched in its mineral-rich landscape. With roots stretching back to its founding days, Vedanta has evolved into a powerhouse by strategically harnessing India's natural resources. The company's diverse portfolio spans across sectors such as zinc, lead, silver, aluminum, iron ore, and power. Vedanta's operations are a testament to its mastery of the resources value chain—from extraction and processing to final product manufacturing. This integrated model not only allows the company to efficiently manage costs but also to capitalize on fluctuating market demands and the global appetite for minerals and metals.

Revenue flows in robustly as Vedanta aligns itself with global economic trends and infrastructure growth, riding the wave of industrialization and urbanization. Its operational prowess is showcased in projects like the highly productive oil and gas segment, particularly through Cairn Oil & Gas, a flagship unit contributing significantly to India's domestic oil production. With its emphasis on sustainable practices and community engagement, Vedanta balances profitability with responsibility, aiming to set benchmarks in environmental stewardship while keeping an eye on strategic expansions and technological advancements. Through these efforts, Vedanta not only fuels its own growth but also actively contributes to India's economic dynamism.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Oct 31, 2025
AI Summary
Q2 2026

Record Performance: Vedanta delivered its highest ever Q2 and H1 revenue and EBITDA, with Q2 EBITDA at INR 11,612 crores (up 12% YoY) and H1 EBITDA at INR 22,358 crores (up 8% YoY), despite volatile global commodity markets.

Margin Expansion: EBITDA margin expanded to 34% in Q2, improving by about 70 basis points YoY, supported by favorable pricing and continued cost efficiencies.

Production Records: Aluminium, alumina, zinc, and power divisions all reported record or best-ever production volumes, with significant cost reductions achieved, especially in power and zinc.

Positive Outlook: Management expects FY '26 to surpass previous record EBITDA of $6 billion, driven by capacity expansions, production growth, and recovering commodity prices.

Demerger Progress: The company expects NCLT approval for its demerger by November 12, aiming to complete the listing of all five demerged entities by the end of FY '26.

Debt and Liquidity: Net debt-to-EBITDA improved to 1.37x (from 1.49x last year), with liquidity of INR 21,481 crores and further deleveraging planned.

CapEx Investments: Growth CapEx of $0.9 billion was invested in H1 FY '26, on track for $1.7–1.9 billion for the year, supporting major projects across metals and power.

Strategic M&A: Vedanta reiterated its strategic rationale for the Jaiprakash power acquisition, emphasizing it will not affect deleveraging or demerger plans.

Key Financials
Revenue
INR 39,218 crores
Revenue
INR 76,652 crores
EBITDA
INR 11,612 crores
EBITDA
INR 22,358 crores
EBITDA Margin
34%
PAT (before exceptional items)
INR 5,027 crores
PAT (reported)
INR 3,479 crores
ROCE
26%
Net Debt-to-EBITDA
1.37x
Liquidity
INR 21,481 crores
Interim Dividend
INR 16 per share
Aluminium Production
617,000 tonnes (Q2), 1.22 million tonnes (H1)
Alumina Production
653,000 tonnes (Q2), 1.2 million tonnes (H1)
Aluminium Margin
$943 per tonne (Q2)
Power Cost (Aluminium, H1)
$529 per tonne
Hindustan Zinc Mined Metal Production
258,000 tonnes (Q2), 523,000 tonnes (H1)
Silver Production
144 metric tonnes (Q2), 293 metric tonnes (H1)
Hindustan Zinc Cost of Production
$994 per tonne (Q2), $1,002 per tonne (H1)
Zinc International Production
up 38% YoY (Q2), up 44% YoY (H1)
Gamsberg Cost of Production
$1,172 per tonne
Oil & Gas Production
89,000 barrels of oil equivalent per day (Q2)
Power Generation
3.9 billion units (Q2)
Power EBITDA
INR 228 crores (Q2)
Pig Iron Production
238,000 tonnes (Q2), 451,000 tonnes (H1)
ESL Steel Output
623,000 tonnes (H1)
Growth CapEx
$0.9 billion (H1 FY '26)
Dividend Yield (YTD)
about 13%
Total Recordable Incident Frequency Rate
1.23 (H1)
Lost Time Injury Frequency Rate
0.42
Earnings Call Recording
Other Earnings Calls

Management

Mr. Navin Kumar Agarwal
Executive Vice Chairman
No Bio Available
Mr. Ajay Kumar Goel
Chief Financial Officer
No Bio Available
Ms. Prerna Halwasiya
Deputy Head Investor Relations, Company Secretary & Compliance Officer
No Bio Available
Ms. Ritu Jhingon
Director of Communication & Corporate Social Responsibility, PR & Branding and CEO of Nand Ghar
No Bio Available
Mr. Shrikant Saboo
Director of Group Commercial, Marketing & Risk
No Bio Available
Ms. Madhu Srivastava
Chief Human Resources Officer
No Bio Available
Mr. Swapnil Patil
Head of Commodities Procurement- Pig Iron Business
No Bio Available
Mr. Manish Gupta
Head of Ports
No Bio Available
Mr. Deodatta Padgaonkar
Senior VP of MAS & Risk Officer
No Bio Available
Mr. Pushpender Singla
Chief Financial Officer of Zinc International Division & CMT
No Bio Available

Contacts

Address
GOA
Panaji
20, Sesa Ghor, EDC Complex, Patto
Contacts