Vedanta Oil and Gas Ltd reports loss of ₹190.51 crore in FY26
Vedanta Oil and Gas Limited reported a net loss of ₹190.51 crore for FY26. The company has classified its business undertakings as held for sale as part of a restructuring scheme. The auditors issued an unqualified opinion on the financial statements.
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Vedanta Oil and Gas Limited reported a net loss of ₹190.51 crore for the financial year ended March 31, 2026. The company has classified its business undertakings as held for sale as part of a restructuring scheme.
The company’s Board of Directors approved the submission of the audited financial statements for the year ended March 31, 2026. The financial statements have been prepared on a going concern basis, supported by a letter of financial support from the holding company.
Financial Performance
The company reported a loss from discontinued operations of ₹190.51 crore for the year ended March 31, 2026, compared to a loss of ₹188.09 crore in the previous year. The total comprehensive loss for the year stood at ₹192.35 crore.
| Particulars | Year Ended 31 March 2026 (₹ in Crores) | Year Ended 31 March 2025 (₹ in Crores) |
|---|---|---|
| Loss before tax from discontinued operations | (190.51) | (188.09) |
| Total comprehensive income for the year | (192.35) | (186.15) |
Discontinued Operations
As at March 31, 2026, the Board announced its decision to divest all its existing business undertakings, including the Nickel (Nicomet) undertaking, GNRE Coke undertaking, and Power undertaking, to Vedanta Limited and/or the respective resulting companies. Consequently, these undertakings have been classified as disposal groups held for sale, and the related results have been presented as discontinued operations.
Auditor's Report
The Independent Auditor's Report issued by S R B C & Co LLP, Chartered Accountants, expressed an unmodified opinion on the financial statements. The auditors noted that the company has adequate internal financial controls with reference to financial statements, which were operating effectively as at March 31, 2026.
Going Concern Assessment
The company reported current liabilities exceeding current assets by ₹878.85 crore as at March 31, 2026. Based on the approved Scheme of Arrangement, the commitment of the Board to effect the reorganisation, and the support letter from the Holding Company, the management is confident that the company will be able to discharge its liabilities and continue as a going concern.
What is the expected timeline for the completion of the divestment of the Nickel, GNRE Coke, and Power undertakings?
How will the restructuring scheme impact the company's ability to manage its current liabilities exceeding current assets by ₹878.85 crore?
What specific terms are outlined in the letter of financial support from the holding company to ensure the company's going concern status?
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