Vedanta Limited , a diversified natural resources company, has reported its highest-ever first quarter EBITDA, demonstrating strong operational performance amid global market volatility.

Financial Highlights

• Consolidated revenue increased 6% year-on-year to ₹37,434.00 crore
• Record Q1 EBITDA of ₹10,746.00 crore, up 5% YoY
• EBITDA margin (excluding Copper) expanded by 81 basis points to 35%, highest in the last 13 quarters
• Adjusted PAT surged 13% YoY to ₹5,000.00 crore; reported PAT stood at ₹4,457.00 crore
• Strong double-digit Return on Capital Employed at 25%, improved by 87 basis points YoY

Operational Performance

Vedanta achieved significant operational milestones across its business segments:

Aluminium

• Record quarterly alumina production of 587 kt, up 9% YoY
• Lowest hot metal cost (ex-alumina) at $888.00/t in the last 16 quarters

Zinc India

• Highest-ever first quarter mined metal production at 265 kt, up 1% YoY
• Lowest Q1 zinc cost of production at $1,010.00/t, down 9% YoY

Zinc International

• Mined metal production jumped 50% YoY to 57 kt, with Gamsberg's production surging 74% YoY

Oil & Gas

• Production at 93.2 kboepd, with natural decline partially offset by infill wells brought online

Iron Ore

• Saleable iron ore production up 42% YoY to 1.8 million tonnes

Power

• Total power sales increased 33% QoQ, with TSPL achieving 90% plant availability

Strategic Developments

Vedanta made progress on several strategic initiatives:

• Generated ₹3,028.00 crore from a 1.6% stake sale in Hindustan Zinc Limited
• Commissioned 950 MW of merchant power capacity year-to-date, increasing total merchant power generation capacity to 3.83 GW
• Hindustan Zinc board approved a 250 ktpa integrated expansion
• Meenakshi Unit 3 (350 MW) and Athena Unit 1 (600 MW) power plants commissioned

Financial Position

• Net Debt/EBITDA ratio improved to 1.3x from 1.5x in the previous year
• Cash and cash equivalents of ₹22,137.00 crore, up 33% YoY
• Credit rating reaffirmed at AA by both CRISIL and ICRA

Management Commentary

Anil Agarwal, Chairman of Vedanta, stated, "Our Q1 performance has set a strong foundation for the year ahead. Amidst global market volatility, we delivered the highest-ever first quarter EBITDA. The ramp-up of the Lanjigarh refinery to 587kt demonstrates our progress towards delivering over 3 MnT of Alumina in FY26."

Ajay Goel, CFO of Vedanta, added, "This strong performance, alongside corporate initiatives such as the HZL stake sale, has enabled Vedanta to deliver a Net Debt to EBITDA ratio of 1.3x. The cost of our debt has reduced by around 130bps YoY to 9.2%."

Vedanta's robust Q1 performance, marked by record EBITDA and significant operational achievements, positions the company well for continued growth. The management's focus on cost optimization, operational efficiency, and strategic expansions is expected to drive further value creation for shareholders.

Vedanta Limited , a leading diversified natural resources company, has recently secured interim protection from the Bombay High Court against the recovery of penalty amounts related to an appeal filed against an order from the Appellate Tribunal under SAFEMA (Smugglers and Foreign Exchange Manipulators Act), New Delhi. This development comes alongside the company's announcement of robust financial results for the first quarter.

Court Protection Against SAFEMA Penalty

The Bombay High Court, in its order dated July 30, granted interim protection and injunction against penalty recovery from Vedanta Limited and other appellants, subject to certain conditions. This interim relief follows an appeal filed by the company and individuals before the Bombay High Court, which has already been admitted. The case stems from a previous order issued by the SAFEMA Appellate Tribunal in November.

Strong Financial Performance in Q1

Vedanta Limited has reported impressive financial results for the quarter ended June 30:

• EBITDA Margin: 35%, up 81 basis points YoY, the highest in the last 13 quarters
• The company achieved its highest ever first quarter EBITDA

Operational Highlights

The company demonstrated strong operational performance across its various segments:

• Aluminium: Record alumina production at 587 kt, up 9% YoY
• Zinc India: Highest-ever first quarter mined metal production at 265 kt, up 1% YoY
• Zinc International: Mined metal production jumped 50% YoY to 57 kt
• Oil & Gas: Production at 93.2 kboepd
• Iron Ore: Saleable production up 42% YoY to 1.8 mnt
• Power: Total power sales increased 33% QoQ

Financial Position and Dividend

Vedanta's financial position remains robust:

• Net Debt/EBITDA ratio improved to 1.3x from 1.5x in Q1 of the previous fiscal year
• Cash and Cash Equivalents stood at ₹22,137 crore, up 33% YoY
• The company declared an interim dividend of ₹7 per share

Management Commentary

Anil Agarwal, Chairman of Vedanta, commented on the results: "Our 1Q performance has set a strong foundation for the year ahead. Amidst global market volatility, we delivered the highest-ever first quarter EBITDA. Operationally, we achieved the lowest hot metal cost in the last 16 quarters, lowest-ever 1Q Zinc India CoP, and significant production increases across various segments."

Ajay Goel, CFO of Vedanta, added: "This quarter, we achieved the highest-ever first quarter EBITDA of ₹10,746 crore, reflecting 5% YoY growth. Our adjusted PAT grew 13% YoY to ~5,000 crores. The recent reaffirmation in credit rating at AA by both Crisil and ICRA highlights our financial strength and market confidence in Vedanta's growth story."

As Vedanta Limited navigates legal challenges and continues to deliver strong financial results, the company remains focused on its growth strategy and operational excellence across its diverse portfolio of natural resources businesses.