Vedanta Limited's Board of Directors convened on July 30, 2026, and approved a series of significant governance and human capital decisions, including the re-appointment of two directors, the designation of four new Senior Management Personnel (SMPs), and the launch of two new employee equity incentive schemes. All director appointments remain subject to shareholder approval.

Board-Level Appointments

The Board, acting on the recommendation of the Nomination and Remuneration Committee (NRC), approved the re-appointment of two key figures at its July 30, 2026 meeting.

Mr. Prasun Kumar Mukherjee (DIN: 00015999), aged 70 years, brings nearly four decades of experience in finance, accounts, costing, taxation, legal, and general management. He served as Executive Director of Sesa Goa Limited and the Vedanta Group's Iron Ore Business from 2006 to 2014, having joined Sesa Goa Limited in 1987. He was recognised as one of India's Best CFOs in 2005 by Business Today magazine and as India's most 'Valuable' CEO in 2009 by Business World magazine. He is a member of the Strategy Board of the Global Risk Management Institute (GRMI) and an ex-officio permanent member of the Managing Committee of the Federation of Indian Mineral Industries (FIMI). Mr. Mukherjee holds a Bachelor's degree in Commerce from Calcutta University and is both an Associate Member of the Institute of Cost Accountants of India and a Fellow Member of the Institute of Chartered Accountants of India.

Mr. Arun Misra (DIN: 01835605) was appointed as Executive Director with effect from August 01, 2023, and has also served as CEO of Hindustan Zinc Limited (HZL), a subsidiary of the Company. He was appointed Deputy CEO of HZL on November 20, 2019 and was elevated to CEO & WTD of HZL with effect from August 01, 2020 till July 31, 2026. He is the first ever Indian Chairperson of the International Zinc Association and Vice President of the Indian Institute of Mineral Engineers. He holds a bachelor's degree in electrical engineering from IIT Kharagpur, a Diploma in Mining and Beneficiation from the University of New South Wales Sydney, and a Diploma in General Management from CEDEP, France. Mr. Misra brings over 35 years of experience, having started his career with Tata Steel in July 1988.

Changes in Senior Management Personnel

The Board also approved the designation and appointment of four new SMPs, effective as detailed below:

• Mr. Amarendu Prakash joined HZL in June 2026 as CEO Designate and was elevated to CEO, HZL effective August 01, 2026. A Metallurgical Engineer from BIT Sindri, he joined SAIL in 1991 and served as its Chairman & Managing Director, driving capacity expansion, operational excellence, digitalization, and sustainability initiatives.
• Mr. Puneet Khurana has been associated with Vedanta since 2006 and serves as CEO of Copper and Nickel Operations. He holds a B.Tech degree from AKG Engineering College, Ghaziabad, and an MBA from ICAI Business School, Hyderabad.
• Mr. Vijay Kumar leads Vedanta Zinc International (VZI) with a mandate to lift integrated production from 210 ktpa to 550 ktpa in the medium term, advancing toward the 1 Mtpa vision. He holds a Mining Engineering degree from IIT BHU, an MBA from XLRI Jamshedpur, and completed the Advanced Management Programme at IESE Business School, Spain.
• Mr. Manoj Kumar Keshari was appointed CEO of FACOR in June 2026. He joined Vedanta in 2008 and has over 30 years of experience, previously associated with Tata Steel and SMS Demag Pvt. Ltd. He holds a B.E. in Mechanical from Pt. Ravishankar Shukla University and an M.Tech in Manufacturing Management from BITS Pilani.

Launch of VEDL ESOP 2026 and VEDL ESPP 2026

The Board approved the formulation, adoption, and implementation of two new employee equity incentive schemes — the Vedanta Limited Employee Stock Option Plan 2026 (VEDL ESOP 2026) and the Vedanta Limited Employee Share Purchase Plan 2026 (VEDL ESPP 2026) — subject to shareholder approval. VEDL ESOP 2026 will supersede the existing Vedanta Employee Stock Option Scheme 2016. Both schemes will be implemented through the existing VEDL Trust via secondary acquisition from the open market, in compliance with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

Both schemes are open to eligible employees of the Company, its holding company, and subsidiaries, excluding promoters, promoter group, independent directors, and persons holding more than 10% equity. Options under VEDL ESOP 2026 will vest based on achievement of performance parameters as determined by the NRC. The total number of shares under all outstanding schemes held by the VEDL Trust through secondary acquisition shall at no point exceed 5% of the paid-up equity share capital of the Company. No grants or offers have been made under either scheme as of the date of the Board meeting.

Vedanta Limited reported a consolidated net profit after tax of ₹7,918 Crore for the quarter ended June 30, 2026, a sharp 78% increase compared to ₹4,457 Crore in the corresponding quarter of the previous year. According to the latest wire data, consolidated net profit from continuing operations stood at 55B Rupees versus 32B Rupees year-on-year, against an analyst estimate of 36B Rupees. Revenue for the quarter came in at 242B Rupees versus 157B Rupees in the year-ago period. The results were reviewed by the Audit and Risk Management Committee and approved by the Board of Directors at its meeting held on July 30, 2026, with statutory auditors M/s M S K A & Associates LLP issuing an unmodified conclusion on the financial results.

Demerger and Structural Transformation

Pursuant to the Scheme of Arrangement approved by the Hon'ble National Company Law Tribunal, Mumbai Bench, vide orders dated December 16, 2025 and January 9, 2026, Vedanta's Aluminium, Oil & Gas, Iron Ore, and Merchant Power undertakings were demerged into four resulting companies — Vedanta Aluminium Metal Limited, Vedanta Oil And Gas Limited, Vedanta Iron and Steel Limited, and Vedanta Power Limited — effective May 1, 2026. As a result, discontinued operations in the current quarter cover only the period from April 1, 2026 to April 30, 2026, and figures for the current period are not directly comparable with those of previous or corresponding periods. Continuing operations now consist of the Zinc, Lead and Silver (India), Zinc International, Copper, and Others segments.

Consolidated Financial Performance

The following table summarises key consolidated financial metrics for continuing and total operations:

Profit attributable to owners of Vedanta Limited stood at ₹5,473 Crore for Q1 FY27, compared to ₹3,185 Crore in Q1 FY26. Non-controlling interests accounted for ₹2,445 Crore of the total net profit.

EBITDA and Margin Performance

Vedanta's operational profitability showed strong improvement in the quarter. According to the latest wire data, consolidated EBITDA stood at 85B Rupees versus 42.76B Rupees year-on-year, while EBITDA margin expanded significantly to 35.12% from 27.14% in the year-ago period. The following table presents segment revenue and EBITDA from continuing operations for Q1 FY27:

Total EBITDA from continuing operations was ₹8,469 Crore in Q1 FY27, compared to ₹4,267 Crore in Q1 FY26. Discontinued operations (April 1 to April 30, 2026) contributed EBITDA of ₹3,891 Crore, bringing combined EBITDA to ₹12,360 Crore for the quarter. The Zinc, Lead and Silver segment remained the dominant contributor to consolidated EBITDA from continuing operations.

Earnings Per Share

The following table presents earnings per share (EPS) figures, which are not annualised for quarterly periods:

Standalone Financial Results

On a standalone basis, Vedanta reported total revenue from continuing operations of ₹7,716 Crore for Q1 FY27, compared to ₹5,051 Crore in Q1 FY26. Net profit after tax from continuing operations was ₹2,538 Crore, while discontinued operations (April 2026) contributed ₹1,846 Crore, bringing total standalone net profit to ₹4,384 Crore. Other income from continuing operations included dividend income from subsidiaries of ₹2,822 Crore for the quarter. Standalone basic and diluted EPS for continuing and discontinued operations combined stood at ₹11.21 for Q1 FY27.

Standalone segment EBITDA from continuing operations was negative at ₹(39) Crore, reflecting the copper-focused standalone structure, while discontinued operations contributed ₹2,730 Crore in EBITDA. The standalone NCDs outstanding as of June 30, 2026 stood at ₹7,560 Crore at carrying amount, all listed unsecured.

Key Financial Ratios (Consolidated)

The following ratios for Q1 FY27 are computed based on continuing operations only and are not directly comparable with prior periods which include discontinued operations:

Regulatory and Legal Disclosures

The company disclosed that the Enforcement Directorate conducted a search and seizure operation under the Foreign Exchange Management Act, 1999, at the premises of the company and one of its subsidiaries from June 1, 2026 to June 3, 2026. The Group extended full cooperation and provided information and documentation sought, and no further communication from the ED has been received. Separately, SEBI communicated observations on related party transactions pertaining to subsidiary Hindustan Zinc Limited during the quarter; these observations related to approvals and disclosure aspects and did not result in any financial penalty, restriction, or sanction. Corrective measures have been taken and reviewed by the Audit & Risk Management Committee and Board of Directors of the subsidiary. The company also noted ongoing regulatory investigations related to allegations in a short seller report from the previous year, with management continuing to assess these as baseless. Consolidated outstanding listed unsecured NCDs stood at ₹9,357 Crore as of June 30, 2026.