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• Quarterly EBITDA: INR 10,364 crores, a 44% increase year-on-year.

• First Half EBITDA: INR 20,639 crores, up 46% year-on-year.

• EBITDA Margin: 34%, an increase of 900 basis points year-on-year.

• Profit After Tax (PAT) Before Exceptionals: INR 4,467 crores, a 230% increase year-on-year.

• Revenue: INR 37,171 crores, a 10% growth year-on-year.

• Net Debt to EBITDA Ratio: Improved to 1.49x.

• Return on Capital Employed (ROCE): 23%, up 152 basis points year-on-year.

• Free Cash Flow Pre-CapEx: INR 8,525 crores, reflecting a 50% growth year-on-year.

• Net Debt: Reduced to INR 56,927 crores, a reduction of INR 4,400 crores sequentially.

• Liquidity Position: INR 21,727 crores, a 30% increase year-on-year and quarter-on-quarter.

• Aluminum Production: Highest ever quarterly and half-yearly production at 609 kt and 1.205 million tonnes, respectively, up 3% year-on-year.

• Zinc India Cost of Production: $1,071 per tonne, lowest first half cost in the last four years.

• Zinc International MIC Production: 21% quarter-on-quarter increase, aiming for 230,000 tonnes for the full year.

• Iron Ore Production Guidance: 11 million tonnes per annum for FY25.

• Warning! GuruFocus has detected 4 Warning Sign with BOM:500295.

Release Date: November 08, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Vedanta Ltd (BOM:500295) reported a 44% year-on-year increase in quarterly EBITDA to INR10,364 crores, showcasing strong operational performance.

• The company achieved its highest ever first half EBITDA of INR20,639 crores, marking a 46% year-on-year growth.

• Vedanta Ltd (BOM:500295) maintained an industry-leading EBITDA margin of 34%, up 9% from the previous year, driven by cost reduction initiatives.

• The aluminum business achieved its highest ever quarterly and half-yearly production, with a 3% year-on-year increase.

• The company has made significant progress in its sustainability initiatives, including securing 1,900 megawatts of renewable energy commitments.

Negative Points

• Vedanta Ltd (BOM:500295)'s iron ore business faced challenges due to transportation permit issues and heavy rainfall, impacting production.

• The company is experiencing rising alumina market prices, which could pressure aluminum production costs.

• There are delays in the ramp-up of the Lanjigarh refinery's Train-2, affecting alumina production targets.

• The demerger process is still ongoing, with potential uncertainties around its completion by FY25.

• The company faces external challenges in the global bauxite market, which could impact raw material sourcing.