Q1 2026 Vedanta Ltd Earnings Call Transcript
Key Points
- Vedanta Ltd (BOM:500295) delivered its strongest first-quarter performance ever, with revenue and EBITDA growing by 5% and 6% year-on-year, respectively.
- The company achieved a record quarterly aluminum production of 587,000 tons, up 90% year-on-year, and recorded the lowest half metal cost ex alumina in the last 16 quarters at $888 per ton.
- Hindustan Zinc's Board approved the first phase of its expansion towards 2 million ton capacity, backed by a $1.4 billion investment.
- Vedanta Ltd (BOM:500295) secured two additional mining blocks, increasing the total count to 10, which includes high-value minerals like nickel, chromium, and cobalt.
- The company reported 0 workplace fatalities in the first quarter and made significant progress towards its climate goals, signing a total renewable power delivery agreement of 1900 megawatts.
- The company faced a natural decline in the MBA field within its Oil and Gas business, although partially offset by other fields.
- Aluminum prices remained subdued, with most key commodities witnessing year-on-year declines, impacting overall profitability.
- The NCLT process for the demerger faced delays, with the next hearing scheduled for August 20, potentially affecting strategic timelines.
- The Oil and Gas business is experiencing a decline, with efforts needed to manage a 15% decline from FY25 levels.
- There are concerns about the Ministry of Petroleum's objections to the demerger, which could impact the process if not resolved.
Ladies and gentlemen, good day and welcome to the Vedanta Limited's Q1 first-quarter financial year '25-'26 earnings conference call. (Operator Instructions) Please note that this conference is being recorded. (Operator Instructions)
I now hand the conference over to Mr. Charanjit Singh, Group Head, Investor Relations, Vedanta. Thank you and over to you, sir.
Thank you, Sagar. Good evening, everyone, and welcome to Vedanta Limited Q1 FY26 evening call. On behalf of team Vedanta, I thank you all for joining us today. I hope you had the chance to look at the press release, earnings presentation, and detailed financial statements uploaded on the website of stock exchanges and the company website.
On this call, I have with me our Group CEO, Mrs. Deshnee Naidoo; Mr. Arun Misra, our Executive Director; Mr. Ajay Goel, our Group CFO; Mr. Rajiv Kumar, CEO, Aluminum Business; Mr. Anil Agarwal, CFO, Aluminum Business; and Mr. Hitesh Vaid, CFO, Oil and Gas Business.
We will begin
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