Vedanta Limited has formally announced that its Board of Directors will meet on January 29, 2026, to consider the company's unaudited financial results for the third quarter and nine months ended December 31, 2025. The announcement was made through an official communication dated January 23, 2026, in compliance with Regulation 29 and 50 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Trading Window Closure

In accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's Insider Trading Prohibition Code, the trading window for all designated persons remains closed for dealing in Vedanta Limited securities. The closure period extends from January 1, 2026, to January 31, 2026, both days inclusive, as previously communicated on December 26, 2025.

Earnings Conference Call Details

Following the declaration of financial results, Vedanta Limited will conduct an earnings conference call to discuss the company's performance and results. The call is scheduled for January 29, 2026, from 5:00 PM to 6:00 PM IST.

The company has provided extensive international dial-in options for global participants, including dedicated numbers for Canada, Hong Kong, Japan, Netherlands, Singapore, South Korea, UK, and USA. Participants from other countries can access relevant dial-in numbers through the online registration link.

Regulatory Compliance

The board meeting and associated procedures demonstrate Vedanta Limited's adherence to regulatory requirements under SEBI guidelines. The company has ensured proper notification timelines and transparency measures for stakeholders and investors. The financial results to be considered will cover both quarterly performance for Q3FY26 and cumulative nine-month performance ending December 31, 2025.

Investors and analysts can participate in the earnings call to gain insights into the company's operational performance, financial metrics, and management commentary on business developments during the reporting period.

Vedanta shares surged 3% to hit a fresh 52-week high of ₹699 on Friday, driven by a rally in commodity prices on the London Metal Exchange. Copper prices bounced back to approach ₹13,407, while zinc prices also gained approximately 1%, providing strong momentum for the diversified metals company.

Brokerage Upgrades Target Price to ₹806

Nuvama Institutional Equities has revised Vedanta's target price upward to ₹806 from ₹686, representing an 18% upside potential from current market levels. The brokerage maintains Vedanta as a top pick, factoring in value unlocking from the demerger and estimating fair value under a FY28E sum-of-the-parts framework.

Demerger Approval and Structure

The NCLT approved the demerger last month to split Vedanta into five different listed entities. After the demerger, the base metals business will remain housed in Vedanta Ltd, while four new entities will be created: Vedanta Aluminium, Talwandi Sabo Power, Vedanta Steel and Iron, and Malco Energy. According to Nuvama, Vedanta is approaching completion of regulatory approvals required for the demerger.

Revised Financial Projections

Nuvama has significantly upgraded its financial estimates, revising FY27E and FY28E EBITDA estimates upward by 17% and 8% respectively to account for higher commodity prices. The brokerage projects a 20% CAGR in EBITDA over FY25-28E, reaching ₹724 billion.

Updated Commodity Price Assumptions

The INR-USD exchange rate assumption for FY27E and FY28E has been revised to 89 from 87.50 earlier, reflecting current market conditions.

Investment Thesis Strengthened

The brokerage expects strong commodity upcycle, cost optimization, and volume growth to reinforce Vedanta's investment thesis. With global supply deficits expected across metals in CY26, commodity prices are anticipated to remain structurally higher than historical averages. Higher commodity prices, aluminium cost reductions, and volume growth in international zinc and power operations are expected to drive the projected EBITDA growth.

Dividend Expectations Post-Demerger

Debt allocation across the demerged entities is expected to be judicious, ensuring comfortable servicing. Vedanta Aluminium (including 51% of Balco) and Vedanta Limited (housing Hindustan Zinc, International Zinc, and others) are likely to continue dividend payouts:

• Expected DPS of approximately ₹15 from Vedanta Aluminium in FY27E/28E
• Expected DPS of approximately ₹5 from Vedanta Limited in FY27E/28E

Market Performance and Analyst Coverage

Kotak Institutional Equities has assigned a target price of ₹780 per share, noting that Vedanta will benefit from the ongoing commodities rally. Nearly 85% of Vedanta's FY27E EBITDA is expected to be driven by aluminium (50%), zinc (20%), and silver (15%). At approximately 12:50 pm, shares were trading at ₹696, higher by 2.60% from the previous close.