|
Net sales (including other operating income)
of Vedanta has declined 3.37% to Rs 37634 crore. Sales of Iron Ore segment has gone down
34.04% to Rs 1,374.00 crore (accounting for 3.68% of total sales). Sales of Power segment has gone up 9.78% to
Rs 1,773.00 crore (accounting for 4.74% of total sales). Sales of oil & Gas segment has gone down
65.67% to Rs 2,825.00 crore (accounting for 7.56% of total sales). Sales of copper segment has gone up 38.43% to
Rs 6,376.00 crore (accounting for 17.06% of total sales). Sales of Aluminum segment has gone up 14.91%
to Rs 13,734.00 crore (accounting for 36.75% of total sales). Sales of others segment has gone down 11.69%
to Rs 2,326.00 crore (accounting for 6.22% of total sales). Sales of Zinc International has gone down
6.38% to Rs 1,012.00 crore (accounting for 2.71% of total sales). Sales of Zinc & Lead - India segment has
gone up 21.75% to Rs 6,403.00 crore (accounting for 17.13% of total sales). Sales of Silver - India segment rose 19.51%
to Rs 1,550.00 crore (accounting for 4.15% of total sales). Inter-segment sales came down from Rs 210.00
crore to Rs 202.00 crore.
Profit before interest, tax and other
unallocable items (PBIT) has slumped 12.42% to Rs 10,364.00 crore. PBIT of Iron Ore segment fell 57.19% to Rs
137.00 crore (accounting for 1.32% of total PBIT). PBIT of Power segment fell 22.18% to Rs
193.00 crore (accounting for 1.86% of total PBIT). PBIT of oil & Gas segment fell 80.03% to
Rs 1,170.00 crore (accounting for 11.29% of total PBIT). PBIT of copper segment rose 83.87% to Rs
-10.00 crore (accounting for -0.10% of total PBIT). PBIT of Aluminum segment rose 111.44% to Rs
4,159.00 crore (accounting for 40.13% of total PBIT). PBIT of others segment rose 56.83% to Rs
218.00 crore (accounting for 2.10% of total PBIT). PBIT of Zinc, lead and Silver rose 34.04% to
Rs 4,119.00 crore (accounting for 39.74% of total PBIT). PBIT of Zinc International rose 30.80% to Rs
378.00 crore (accounting for 3.65% of total PBIT).
PBIT margin of Iron Ore segment fell from
15.36% to 9.97%. PBIT margin of Power
segment fell from 15.36% to 10.89%. PBIT
margin of oil & Gas segment fell from 71.21% to 41.42%. PBIT margin of copper segment rose from
negative 1.35% to negative 0.16%. PBIT
margin of Aluminum segment rose from 16.46% to 30.28%. PBIT margin of others segment rose from 5.28%
to 9.37%. PBIT margin of segment rose
from 26.73% to 37.35%. Overall PBIT
margin fell from 30.53% to 27.73%.
Operating profit margin has declined from
29.47% to 26.11%, leading to 14.38% decline in operating profit to Rs 9,828.00
crore. Raw material cost as a % of total
sales (net of stock adjustments) increased from 28.14% to 33.57%. Purchase of finished goods cost rose from
0.01% to 0.04%. Employee cost increased
from 2.28% to 2.29%. Other expenses
fell from 39.92% to 38.07%. Power and
Oil fuel cost rose from 15.46% to 15.60%.
Other income rose 103.13% to Rs 1300
crore. PBIDT fell 8.18% to Rs 11128
crore. Provision for interest rose 5.71%
to Rs 2667 crore. Loan funds rose to Rs
79,808.00 crore as of 30 September 2024 from Rs 75,064.00 crore as of 30
September 2023. Inventories declined
from Rs 14,117.00 crore as of 30 September 2023 to Rs 14,056.00 crore as of 30
September 2024. Sundry debtors were
higher at Rs 4,176.00 crore as of 30 September 2024 compared to Rs 3,871.00
crore as of 30 September 2023. Cash and
bank balance rose to Rs 10,996.00 crore as of 30 September 2024 from Rs
4,293.00 crore as of 30 September 2023.
Investments declined from Rs 12,855.00 crore as of 30 September 2023 to
Rs 12,823.00 crore as of 30 September 2024.
PBDT fell 11.83% to Rs 8461 crore. Provision for depreciation rose 2.04% to Rs
2696 crore. Fixed assets increased to Rs
123,357.00 crore as of 30 September 2024 from Rs 114,422.00 crore as of 30
September 2023. Intangible assets
increased from Rs 4,488.00 crore to Rs 5,061.00 crore.
Profit before tax down 17.10% to Rs 5,765.00
crore. Share of profit/loss were nil in
both the periods. Extraordinary items
were increased to Rs 1,868.00 crore.
Provision for tax was expense of Rs 2030 crore, compared to Rs 9092
crore. Effective tax rate was 26.60%
compared to 111.19%.
Minority interest increased 44.12% to Rs
1,251.00 crore. Net profit stood at Rs
4352 crore compared to loss of Rs 1783 crore.
Equity capital increased from Rs 372.00 crore
as of 30 September 2023 to Rs 391.00 crore as of 30 September 2024. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 56.38% as of 30
September 2024 ,compared to 63.71% as of 30 September 2023 . Promoters pledged stake was 99.99% as of 30
September 2024 ,compared to 99.99% as of 30 September 2023 .
Commenting
on 2QFY25 results, Arun Misra, Executive Director Vedanta Limited said, “Vedanta is proud
to report our highest-ever first-half EBITDA of Rs 20,639 crore with 46% growth
YoY. The second half of this year will be a transformative period with our
major growth and integration projects coming online and ramping up. Through our
structural interventions and initiatives, we have significantly reduced our
cost of production over the past 12-15 months, and we will continue this trend
in the coming quarters. As we move forward, operational excellence, sustained
growth, and ESG leadership remain our strategic priorities. With a rich,
diversified asset portfolio, a stronger balance sheet, and ongoing growth
projects, we are well-positioned to deliver exceptional overall performance.”
Ajay
Goel, CFO, Vedanta Limited, said “This has been an outstanding quarter,
highlighted by significant progress in our corporate and strategic initiatives,
strong financial results, and excellent operational performance. We delivered
our highest-ever 1H EBITDA of Rs 20,639 crore, up 46% YoY, with a robust 34%
EBITDA margin and PAT before exceptional items of Rs 4,467 crore, a 230% YoY
increase. This strong performance is driven by cost efficiency, volume growth,
and favourable commodity prices. Additionally, we raised $1.4 billion at
Vedanta through a $1 billion QIP and a $400 million HZL OFS. At the same time,
with the $1.2 billion VRL bond issuance and ongoing deleveraging, we have
reduced Holdco. debt to $4.8 billion, the lowest level in a decade. This
positions us well to generate lasting value for our stakeholders, both now and
in the years to come.”
For
year-to-date (YTD) results analysis
Net sales (including other operating income)
of Vedanta has increased 0.99% to Rs 73398 crore. Sales of Iron Ore segment has gone down
34.63% to Rs 2,694.00 crore (accounting for 3.70% of total sales). Sales of Power segment has gone up 8.09% to
Rs 3,462.00 crore (accounting for 4.76% of total sales). Sales of oil & Gas segment has gone down
48.13% to Rs 5,750.00 crore (accounting for 7.91% of total sales). Sales of copper segment has gone up 18.96% to
Rs 11,110.00 crore (accounting for 15.28% of total sales). Sales of Aluminum segment has gone up 14.22%
to Rs 27,249.00 crore (accounting for 37.47% of total sales). Sales of others segment has gone up 0.53% to
Rs 4,900.00 crore (accounting for 6.74% of total sales). Sales of Zinc International segment has gone
down 19.18% to Rs 1,765.00 crore (accounting for 2.43% of total sales). Sales of Zinc & Lead - India segment has
gone up 16.34% to Rs 12,824.00 crore (accounting for 17.63% of total
sales). Sales of Silver - India segment
rose 14.72% to Rs 2,977.00 crore (accounting for 4.09% of total sales). Inter-segment sales came down from Rs 394.00
crore to Rs 321.00 crore.
Profit before interest, tax and other
unallocable items (PBIT) has jumped 9.73% to Rs 20,639.00 crore. PBIT of Iron Ore segment fell 33.88% to Rs
320.00 crore (accounting for 1.55% of total PBIT). PBIT of Power segment fell 11.21% to Rs
475.00 crore (accounting for 2.30% of total PBIT). PBIT of oil & Gas segment fell 67.87% to
Rs 2,251.00 crore (accounting for 10.91% of total PBIT). PBIT of copper segment fell 4.69% to Rs
-67.00 crore (accounting for -0.32% of total PBIT). PBIT of Aluminum segment rose 127.27% to Rs
8,600.00 crore (accounting for 41.67% of total PBIT). PBIT of others segment rose 343.93% to Rs
475.00 crore (accounting for 2.30% of total PBIT). PBIT of Zinc,Lead and Silver India segment
rose 25.60% to Rs 8,022.00 crore (accounting for 38.87% of total PBIT). PBIT of Zinc International segment fell 1.40%
to Rs 563.00 crore (accounting for 2.73% of total PBIT).
PBIT margin of Iron Ore segment rose from
11.74% to 11.88%. PBIT margin of Power
segment fell from 16.70% to 13.72%. PBIT
margin of oil & Gas segment fell from 63.19% to 39.15%. PBIT margin of copper segment rose from
negative 0.69% to negative 0.60%. PBIT
margin of Aluminum segment rose from 15.86% to 31.56%. PBIT margin of others segment rose from 2.20%
to 9.69%. PBIT margin of Zinc_
International segment rose from 26.14% to 31.90%. Overall PBIT margin rose from 26.02% to
28.38%.
Operating profit margin has jumped from
24.63% to 26.94%, leading to 10.47% rise in operating profit to Rs 19,773.00
crore. Raw material cost as a % of total
sales (net of stock adjustments) increased from 30.31% to 31.82%. Employee cost decreased from 2.39% to 2.36%. Other expenses fell from 42.60% to
39.39%. Power and Oil fuel cost fell
from 16.77% to 15.70%.
Other income rose 88.36% to Rs 2234
crore. PBIDT rose 15.31% to Rs 22007
crore. Provision for interest rose 5.53%
to Rs 4889 crore. Loan funds rose to Rs
79,808.00 crore as of 30 September 2024 from Rs 75,064.00 crore as of 30
September 2023. Inventories declined
from Rs 14,117.00 crore as of 30 September 2023 to Rs 14,056.00 crore as of 30
September 2024. Sundry debtors were
higher at Rs 4,176.00 crore as of 30 September 2024 compared to Rs 3,871.00
crore as of 30 September 2023. Cash and
bank balance rose to Rs 10,996.00 crore as of 30 September 2024 from Rs
4,293.00 crore as of 30 September 2023.
Investments declined from Rs 12,855.00 crore as of 30 September 2023 to
Rs 12,823.00 crore as of 30 September 2024.
PBDT rose 18.45% to Rs 17118 crore. Provision for depreciation rose 4.53% to Rs
5427 crore. Fixed assets increased to Rs
123,357.00 crore as of 30 September 2024 from Rs 114,422.00 crore as of 30
September 2023. Intangible assets
increased from Rs 4,488.00 crore to Rs 5,061.00 crore.
Profit before tax grew 26.25% to Rs 11,691.00
crore. Share of profit/loss were nil in
both the periods. Extraordinary items
were decreased to Rs 1,868.00 crore.
Provision for tax was expense of Rs 2861 crore, compared to Rs 9870
crore. Effective tax rate was 21.10%
compared to 80.49%.
Minority interest increased 78.39% to Rs
2,740.00 crore. Net profit attributable
to owners of the company increased 828.59% to Rs 7,958.00 crore.
Equity capital increased from Rs 372.00 crore
as of 30 September 2023 to Rs 391.00 crore as of 30 September 2024. Per share face Value remained same at Rs
1.00.
Promoters’ stake was 56.38% as of 30
September 2024 ,compared to 63.71% as of 30 September 2023 . Promoters pledged stake was 99.99% as of 30
September 2024 ,compared to 99.99% as of 30 September 2023 .
Cash flow from operating activities increased
to Rs 18,354.00 crore for YTD ended September 2024 from Rs 14,172.00 crore for
YTD ended September 2023. Cash flow used
in acquiring fixed assets during the YTD ended September 2024 stood at Rs
7,601.00 crore, compared to Rs 7,810.00 crore during the YTD ended September
2023. The scrip is currently trading at Rs 457
|
Vedanta : Consolidated Results
|
|
Particulars
|
2409
(03)
|
2309
(03)
|
Var.(%)
|
2409
(06)
|
2309
(06)
|
Var.(%)
|
2403
(12)
|
2303
(12)
|
Var.(%)
|
|
Net
Sales
|
37,634
|
38,945
|
-3
|
73,398
|
72,678
|
1
|
1,43,727
|
1,47,308
|
-2
|
|
OPM
(%)
|
26.1
|
29.5
|
|
26.9
|
24.6
|
|
24.5
|
23.4
|
|
|
OP
|
9,828
|
11,479
|
-14
|
19,773
|
17,899
|
10
|
35,198
|
34,422
|
2
|
|
Other
Inc.
|
1,300
|
640
|
103
|
2,234
|
1,186
|
88
|
2,550
|
2,851
|
-11
|
|
PBIDT
|
11,128
|
12,119
|
-8
|
22,007
|
19,085
|
15
|
37,748
|
37,273
|
1
|
|
Interest
|
2,667
|
2,523
|
6
|
4,889
|
4,633
|
6
|
9,465
|
6,225
|
52
|
|
PBDT
|
8,461
|
9,596
|
-12
|
17,118
|
14,452
|
18
|
28,283
|
31,048
|
-9
|
|
Depreciation
|
2,696
|
2,642
|
2
|
5,427
|
5,192
|
5
|
10,723
|
10,555
|
2
|
|
PBT
|
5,765
|
6,954
|
-17
|
11,691
|
9,260
|
26
|
17,560
|
20,493
|
-14
|
|
Share
of Profit/(Loss) from Associates
|
0
|
0
|
-
|
0
|
0
|
-
|
2
|
-3
|
LP
|
|
PBT
before EO
|
5,765
|
6,954
|
-17
|
11,691
|
9,260
|
26
|
17,562
|
20,490
|
-14
|
|
EO
Income
|
1,868
|
1,223
|
53
|
1,868
|
3,003
|
-38
|
2,803
|
-217
|
LP
|
|
PBT
after EO
|
7,633
|
8,177
|
-7
|
13,559
|
12,263
|
11
|
20,365
|
20,273
|
0
|
|
Taxation
|
2,030
|
9,092
|
-78
|
2,861
|
9,870
|
-71
|
12,826
|
5,770
|
122
|
|
PAT
|
5,603
|
-915
|
LP
|
10,698
|
2,393
|
347
|
7,539
|
14,503
|
-48
|
|
Minority
Interest (MI)
|
1,251
|
868
|
44
|
2,740
|
1,536
|
78
|
3,300
|
3,929
|
-16
|
|
Net
profit
|
4,352
|
-1,783
|
LP
|
7,958
|
857
|
829
|
4,239
|
10,574
|
-60
|
|
EPS
(Rs)*
|
#
|
#
|
|
#
|
#
|
|
9.4
|
27.3
|
|
|
Notes
|
|
*
EPS is on current equity of Rs 391.04 crore, Face value of Rs 1, Excluding
extraordinary items.
|
|
#
EPS is not annualised
|
|
bps
: Basis points
|
|
EO
: Extraordinary items
|
|
Figures
in Rs crore
|
|
Source:
Capitaline Corporate Database
|
|
Vedanta : Consolidated Segment
Results
|
|
|
%
of (Total)
|
2409
(03)
|
2309
(03)
|
Var.(%)
|
%
of (Total)
|
2409
(06)
|
2309
(06)
|
Var.(%)
|
%
of (Total)
|
2403
(12)
|
2303
(12)
|
Var.(%)
|
|
Sales
|
|
|
|
|
|
Iron
Ore
|
4
|
1374
|
2083
|
-34
|
4
|
2694
|
4121
|
-35
|
6
|
9069
|
6503
|
39
|
|
Power
|
5
|
1773
|
1615
|
10
|
5
|
3462
|
3203
|
8
|
4
|
6153
|
6725
|
-9
|
|
oil
& Gas
|
8
|
2825
|
8229
|
-66
|
8
|
5750
|
11086
|
-48
|
13
|
17837
|
15038
|
19
|
|
copper
|
17
|
6376
|
4606
|
38
|
15
|
11110
|
9339
|
19
|
14
|
19730
|
17491
|
13
|
|
Aluminum
|
37
|
13734
|
11952
|
15
|
37
|
27249
|
23857
|
14
|
34
|
48371
|
52661
|
-8
|
|
others
|
6
|
2326
|
2634
|
-12
|
7
|
4900
|
4874
|
1
|
7
|
10080
|
9245
|
9
|
|
Zinc
International
|
3
|
1012
|
1081
|
-6
|
2
|
1765
|
2184
|
-19
|
2
|
3556
|
5209
|
-32
|
|
Zinc
& Lead - India
|
17
|
6403
|
5259
|
22
|
18
|
12824
|
11023
|
16
|
16
|
22557
|
28732
|
-21
|
|
Silver
- India
|
4
|
1550
|
1297
|
20
|
4
|
2977
|
2595
|
15
|
4
|
5368
|
4388
|
22
|
|
Total
Reported Sales
|
100
|
37373
|
38756
|
-4
|
100
|
72731
|
72282
|
1
|
100
|
142721
|
145992
|
-2
|
|
Less:
Inter segment revenues
|
|
202
|
210
|
-4
|
|
321
|
394
|
-19
|
|
928
|
588
|
58
|
|
Net
Sales
|
|
37171
|
38546
|
-4
|
|
72410
|
71888
|
1
|
|
141793
|
145404
|
-2
|
|
PBIT
|
|
|
|
|
|
Iron
Ore
|
1
|
137
|
320
|
-57
|
2
|
320
|
484
|
-34
|
5
|
1676
|
988
|
70
|
|
Power
|
2
|
193
|
248
|
-22
|
2
|
475
|
535
|
-11
|
3
|
971
|
913
|
6
|
|
Oil
& Gas
|
11
|
1170
|
5860
|
-80
|
11
|
2251
|
7005
|
-68
|
27
|
9777
|
7782
|
26
|
|
copper
|
0
|
-10
|
-62
|
84
|
0
|
-67
|
-64
|
-5
|
0
|
-69
|
-4
|
-1625
|
|
Aluminum
|
40
|
4159
|
1967
|
111
|
42
|
8600
|
3784
|
127
|
26
|
9657
|
5775
|
67
|
|
others
|
2
|
218
|
139
|
57
|
2
|
475
|
107
|
344
|
1
|
188
|
379
|
-50
|
|
Zinc,
Lead and Silver
|
40
|
4119
|
3073
|
34
|
39
|
8022
|
6387
|
26
|
37
|
13562
|
17474
|
-22
|
|
Zinc
International
|
4
|
378
|
289
|
31
|
3
|
563
|
571
|
-1
|
2
|
693
|
1934
|
-64
|
|
Total
PBIT
|
100
|
10364
|
11834
|
-12
|
100
|
20639
|
18809
|
10
|
100
|
36455
|
35241
|
3
|
|
Less
: Interest
|
|
2667
|
2523
|
6
|
|
4889
|
4633
|
6
|
|
9465
|
6225
|
52
|
|
Add:
Other un-allcoable
|
|
-64
|
-1134
|
94
|
|
-2191
|
-1913
|
-15
|
|
-6627
|
-8740
|
24
|
|
PBT
|
|
7633
|
8177
|
-7
|
|
13559
|
12263
|
11
|
|
20363
|
20276
|
0
|
|