Vedanta Ltd (NSE:VEDL)

Q2 2026 Vedanta Ltd Earnings Call Transcript

Oct 31, 2025 / 11:30 AM GMT

Release Date Price: ₹39.14 (-2.64%)

Transcript

Key Points

Positve

Vedanta Ltd (BOM:500295) achieved its strongest first-half performance on record, with a Q2 EBITDA of INR11,612 crore and H1 EBITDA of INR22,358 crore, representing year-on-year growth of 12% and 8%, respectively.
The aluminum business achieved its highest-ever quarterly and half-year production, with metal output reaching 617,000 tons in Q2 and 1.22 million tons for H1.
Hindustan Zinc delivered a record second-quarter mined metal production of 258,000 tons and a half-year total of 523,000 tons, with silver production contributing nearly 40% of total segment earnings.
Zinc International recorded a 38% year-on-year increase in metal in concentrate production in Q2, supported by a 54% increase at Kasper.
The company is on track to achieve its enhanced full-year capital guidance of between USD1.7 to $1.9 billion, with key milestones including the commissioning of a 435,000 tons per annum smelter at Balco.

Negative

The ongoing tariff disputes and conflicts in the Middle East and Europe created substantial turbulence in the commodity market, impacting Vedanta Ltd (BOM:500295)'s operations.
Natural declines in the NBA fields and delays in ASB platasy injection impacted oil and gas production, which stood at 89,000 barrels of oil equivalent per day in the quarter.
Planned maintenance temporarily impacted volumes at ESL and FAO, with ESL's first-half output down 4% year-on-year and FAO's H1 production declining 12% year-on-year.
The company recorded two exceptional items totaling 1,547 crore net of taxes, impacting the reported PAT.
The demerger process has faced multiple delays, with the final NCLT hearing scheduled for November 12th, raising concerns about the timeline for completion.

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

VDAN.NS - Vedanta Ltd
Q2 2026 Vedanta Ltd Earnings Call
Oct 31, 2025 / 11:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to Vanha Limited. Second quarter and first half financial year 2,526 earnings conference call.

As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes.

Should you need assistance during the conference call, please signal an operator by pressing, then 0 on your touchtone phone.

Please note that this conference is being recorded.

Partics connected on webcast link may change the quality settings to â¹108 to watch the proceedings on best quality.

I now hand the conference over to Mr. Chairanjeet Singh Group head investor relations with Anta.

Thank you

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