Vedanta Ltd (BOM:500295)

Q1 2027 Vedanta Ltd Earnings Call Transcript

Jul 30, 2026 / 11:30 AM GMT

Release Date Price: ₹267.6 (+1.17%)

Transcript

Key Points

Positve

Vedanta Ltd (BOM:500295) delivered a strong operational performance across its demerged entities, with Vedanta Aluminum achieving record quarterly revenue and EBITDA, driven by all-time high aluminum production of 632 kT and a 45% year-on-year revenue increase.
The company's balance sheet strengthened significantly, with Vedanta Aluminum's net debt-to-EBITDA ratio improving from 1.3x to 0.9x, and the entity closing the quarter with over INR 6,000 crore in cash, enhancing financial flexibility.
Cost discipline was evident across segments: Vedanta Aluminum's hot metal cost fell 3% quarter-on-quarter to $1,698 per ton, while Vedanta Oil & Gas reduced direct operating costs by 3% to $17.4 per barrel through efficiency programs.
Growth projects are progressing on track, including the Sijimali bauxite mine expected to start this quarter, the Bokaro expansion receiving Stage 1 forest clearance, and the Balco potline ramp-up targeting full production by Q2 FY27.
Credit rating upgrades were secured for multiple entities, with Vedanta Ltd receiving an AA+ rating from CRISIL and ICRA, and Vedanta Power being upgraded to AA- with a stable outlook, reflecting strong credit profiles.

Negative

Vedanta Oil & Gas experienced a 3% quarter-on-quarter revenue decline due to lower production volumes from natural reservoir decline, partially offset by higher crude prices.
Vedanta Power's overall performance was impacted by a one-time exceptional item of INR 487 crore, dragging reported EBITDA down despite strong operational delivery.
Alumina production at Vedanta Aluminum was 6% lower sequentially due to issues in the power plant's red mud handling system, affecting output.
Copper International sales dropped 51% year-on-year as supply chains in the Middle East were disrupted by geopolitical tensions, impacting revenue from that segment.
The company faces near-term cost headwinds, with Vedanta Aluminum expecting marginally higher costs in Q2 due to planned power plant shutdowns during the monsoon period, and Vedanta Oil & Gas production continuing to face natural decline challenges.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

VDAN.NS - Vedanta Ltd
Q1 2027 Vedanta Ltd Earnings Call
Jul 30, 2026 / 11:30AM GMT

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Presentation
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About

Know.

Ladies and gentlemen.

Good day and welcome to the 1st quarter of financial year 2026-027 on its conference call of Vedanta Aluminum Metal Limited, Vedanta Iron and Steel Limited.

But then the power limited.

And Vedanta Oil and Gas Limited.

As a reminder, all participant clients will be in the listen-only mode.

And there will be an opportunity for you to ask questions after the presentation.

Should you need assistance during the con, please signal and operator by pressing and then 0 on your restaurant phone.

Please note that this conference is being recorded.

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