Vedanta logo

Vedanta

VEDL NSE

Key Fundamentals

MidcapDiversified MetalsMetals & Mining
Market Cap
1.0L Cr
Volatility
Moderate
P/E Ratio
5.24
EBITDA
₹24,734 Cr
Return on Equity
18.2%
Debt to Equity
0.66
Book Value
₹126.97
EPS
₹13.95
52W High
₹360
52W Low
₹161.66

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

4
  • Company has reduced debt.
  • Company is expected to give good quarter
  • Company has a good return on equity (ROE) track record: 3 Years ROE 31.0%
  • Company has been maintaining a healthy dividend payout of 150%

Weaknesses

5
  • Promoter holding has decreased over last quarter: -1.66%
  • The company has delivered a poor sales growth of -2.28% over past five years.
  • Contingent liabilities of Rs.31,673 Cr.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.14,343 Cr.

Growth Rate

Revenue Growth
23.92% higher than 3Y
Net Income Growth
34.54% higher than 3Y
Cash Flow Change
-0.16% lower than 3Y
ROE
5.45% lower than 3Y
ROCE
-17.54% higher than 3Y
EBITDA Margin (Avg.)
-2.21% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk high

Vedanta Ltd trades at a market cap of ₹1,02,354 Cr with a PE of 3.7x and a dividend yield of 12.64%, reflecting deep value characteristics. However, the company's 5-year sales CAGR stands at -2% and other income of ₹14,343 Cr forms a significant portion of earnings, raising questions about core operating performance.

Bull Case 8
  • PE ratio of 3.7x is extremely low relative to sector peers, suggesting the stock is priced for significant pessimism
  • Dividend yield of 12.64% with a payout ratio of approximately 150% provides substantial cash return to shareholders
  • Last year ROE of 38% and 3-year average ROE of 31% indicate efficient capital deployment
  • TTM profit growth of 37% shows a strong earnings recovery trajectory
  • Company has actively reduced debt on its balance sheet, improving financial flexibility
  • Stock CAGR of 74% over 1 year and 47% over 3 years reflects strong re-rating momentum
  • 10-year compounded profit growth of 13% demonstrates long-term earnings resilience through commodity cycles
  • Company is expected to deliver a good upcoming quarter based on operational trends
Bear Case 8
  • 5-year compounded sales growth is negative at -2.28%, indicating stagnant to declining topline over a meaningful period
  • Other income of ₹14,343 Cr is a very large component of total earnings, masking potentially weaker core operating profitability
  • 3-year compounded sales CAGR of -19% points to a severe revenue contraction in the recent past
  • Promoter holding decreased by 1.66% in the last quarter, signaling potential dilution or reduced promoter confidence
  • Company might be capitalizing interest costs, which would understate true expenses and overstate reported profits
  • TTM sales growth of just 2% despite a 37% profit jump suggests margin-driven earnings that may not be sustainable
  • Price-to-book ratio of 2.12x alongside negative sales growth raises concerns about asset efficiency going forward
  • As a metals and mining conglomerate, earnings are heavily exposed to global commodity price cycles and China demand trends

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Headwinds 3
  • SC revives ₹5,725cr buyback fraud case Sep 09

    Supreme Court revived SEBI's fraud case against Vedanta over its 2014 share buyback, sending it back to SAT for fresh hearing. SEBI had imposed a ₹5.25 crore penalty alleging Vedanta failed to place buy orders on 24 of 54 favourable trading days, repurchasing only 3.67 crore shares (28.59%) of the announced 17.09 crore.

  • Odisha widens water usage probe Aug 27

    Odisha government expanded regulatory scrutiny of Vedanta's Jharsuguda water usage, issuing a ₹233.11 crore demand notice for alleged unauthorized extraction from the Bheden river system. NGT has also sought responses on illegal river water extraction and discharge of untreated industrial effluents.

  • Crude oil surpasses $100/barrel Sep 10

    Crude oil prices surpassed $100 per barrel, their highest since May 2026, driven by US-Iran conflict escalation. This weighed on broader market sentiment and contributed to Vedanta Ltd shares closing at ₹271.15, down 0.9%.

Positives 7
  • Q1 FY27 profit surges 71.8% Sep 08

    Vedanta reported consolidated net profit of ₹5,473 crore in Q1 FY27, up 71.8% YoY from ₹3,185 crore. Revenue from operations rose 53.6% to ₹24,205 crore, driven by higher metal prices and rupee depreciation.

  • $400M bond tap cuts borrowing costs Sep 08

    Vedanta Resources raised $400M via triple-maturity bond tap (2032/2034/2037) at 7%-7.75% coupons, bringing total bond fundraising to $2.15B. This replaces higher-cost 9.20%-9.50% debt maturing in 2030-2033, reducing borrowing costs and extending maturities.

  • Promoter shares fully unencumbered Aug 24

    Vedanta announced full release of encumbrances over 2.14 billion promoter group shares (54.72% of equity) following complete repayment of debt facilities.

  • Vedanta Aluminium strong earnings outlook Aug 21

    Vedanta Aluminium reported Q1 FY27 net profit of ₹56.29B with net margin doubling to 31%. Motilal Oswal maintains Buy with ₹540 target (21% upside), projecting 18% EBITDA CAGR over FY26-28; Systematix initiated at Buy with ₹598 target.

  • Advanced alloy launch for automotive Aug 21

    Vedanta Aluminium launched Copper-Doped Alloy and Vedanta Foundry Alloy (developed with IIT Delhi) for next-gen automotive applications. Company is on track to become world's largest primary billet producer at 1.25 MTPA capacity.

  • AI partnerships worth ₹2,100cr value Sep 08

    Vedanta Aluminium announced strategic partnerships with OpenAI, Microsoft, SAP, AVEVA, Rockwell and others to unlock up to ₹2,100 crore in value through AI, digitalisation and automation across its Lanjigarh and Jharsuguda operations.

  • First portable rig for mineral exploration Aug 25

    Vedanta deployed India's first high-speed hydrostatic portable rig in Chhattisgarh for gold and critical minerals (nickel, chromium, PGE), capable of drilling up to 1,000 metres vs conventional 300-400 metres. Company holds 10 critical mineral blocks with exploration underway on five.

Neutral 5
  • Group stocks mixed amid volatility Sep 10

    Vedanta Group stocks showed mixed performance with Vedanta Ltd down 0.9% at ₹271.15 while Oil & Gas gained 2.5% at ₹36.52. Sectoral divergence saw Cables surge 5% while Automobiles fell over 1.3%.

  • Zinc hits 4-year high Sep 01

    Zinc prices reached a four-year high amid tightening global supply, positive for Vedanta's zinc ops. However, Fed rate hike expectations and mixed group stock performance (HZL +1.22%, Vedanta Iron & Steel -7.4% over 5 days) tempered sentiment.

  • ESOP/ESPP vote and CEO reappointment Aug 31

    Vedanta issued postal ballot notice for remote e-voting on new employee stock option and share purchase plans, along with reappointment of Arun Misra as CEO.

  • Denies stake sale, confirms demerger focus Aug 25

    Vedanta Resources categorically denied media reports of planned stake sales in Vedanta Ltd or Vedanta Aluminium, reaffirming focus on demerger into five separate companies with each vertical targeting a $100 billion opportunity.

  • $1B+ invested in net-zero transition Aug 19

    Vedanta invested over $1 billion in decarbonisation during FY26, with renewable energy usage up 52% YoY to 4 billion units. Nearly 2,000 MW of renewable capacity installed, targeting 2.5 GW by 2030, avoiding ~3 million tonnes of CO2 emissions.

TL;DR: Vedanta is firing on fundamentals with Q1 FY27 profit up 71.8%, successful $2.15B bond refinancing at lower rates, and full release of promoter share encumbrances signaling improved balance sheet health. Key risks include the SC-revived ₹5,725 crore buyback fraud case, Odisha's ₹233 crore water demand notice, and crude oil above $100 pressuring sentiment. Multiple brokerages maintain Buy ratings on Vedanta Aluminium with 21%+ upside targets, supported by strong volume growth and margin expansion. The trend is broadly improving on earnings and deleveraging, but regulatory and legal overhangs need monitoring.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
33,733
38,945
35,541
35,509
35,764
37,634
17,063
16,686
15,754
18,747
21,337
24,609
24,205
Expenses
27,313
27,466
27,010
26,741
25,819
27,806
12,050
11,440
11,478
13,832
14,816
17,050
15,704
Operating Profit
6,420
11,479
8,531
8,768
9,945
9,828
5,013
5,246
4,276
4,915
6,521
7,559
8,501
OPM %
19%
29%
24%
25%
28%
26%
29%
31%
27%
26%
31%
31%
35%
Other Income
2,326
1,863
779
385
934
3,168
3,202
2,771
2,737
1,248
4,426
5,503
3,166
Interest
2,110
2,523
2,417
2,415
2,222
2,667
1,073
1,071
609
1,033
547
694
662
Depreciation
2,550
2,642
2,788
2,743
2,731
2,696
1,238
1,191
1,116
1,303
1,239
1,332
1,192
PBT
4,086
8,177
4,105
3,995
5,926
7,633
5,904
5,755
5,288
3,827
9,161
11,036
9,813
Tax %
19%
111%
30%
43%
14%
27%
17%
14%
16%
9%
15%
15%
19%
Net Profit
3,308
-915
2,868
2,275
5,095
5,603
4,876
4,961
4,457
3,479
7,807
9,352
7,918
EPS in Rs
7.1
-4.8
5.42
3.68
9.7
11.13
9.07
8.91
8.14
4.6
14.6
17.13
14
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
73,710
64,262
72,225
91,866
92,048
84,447
88,021
1,32,732
1,47,308
1,43,727
62,717
78,437
88,898
Expenses
51,595
82,741
50,849
66,989
68,877
63,704
60,703
87,908
1,12,877
1,08,415
44,139
55,254
61,402
Operating Profit
22,114
-18,479
21,376
24,877
23,171
20,743
27,318
44,824
34,431
35,312
18,578
23,183
27,496
OPM %
30%
-29%
30%
27%
25%
25%
31%
34%
23%
25%
30%
30%
31%
Other Income
-19,222
4,290
4,423
6,087
4,270
-14,932
2,743
1,832
2,625
5,241
12,739
14,186
14,343
Interest
5,659
5,778
5,855
5,112
5,689
4,977
5,210
4,797
6,225
9,465
4,197
2,817
2,936
Depreciation
7,159
8,572
6,292
6,283
8,192
9,093
7,638
8,895
10,555
10,723
4,233
4,810
5,066
PBT
-9,925
-28,540
13,652
19,569
13,560
-8,259
17,213
32,964
20,276
20,365
22,887
29,742
33,837
Tax %
15%
-37%
17%
30%
28%
-43%
13%
28%
28%
63%
10%
16%
—
Net Profit
-11,369
-17,862
11,316
13,692
9,698
-4,744
15,032
23,710
14,503
7,539
20,535
25,096
28,556
EPS in Rs
-52.77
-41.39
23.47
27.82
19.01
-17.93
31.21
50.58
28.45
11.4
38.33
44.47
50.33
Div. Payout %
-8%
-8%
83%
76%
99%
-22%
30%
89%
357%
259%
113%
76%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
296
296
297
372
372
372
372
372
372
372
391
391
Reserves
53,579
43,743
60,128
62,940
61,925
54,263
61,906
65,011
39,051
30,350
40,821
49,261
Borrowings
77,752
67,778
71,569
58,159
66,226
59,187
57,669
53,583
80,329
87,706
91,479
32,947
Other Liabilities
58,654
80,163
64,952
58,896
70,045
66,915
63,549
74,981
69,703
69,690
67,249
1,49,712
Total Liabilities
1,90,281
1,91,980
1,96,946
1,80,367
1,98,568
1,80,737
1,83,496
1,93,947
1,89,455
1,88,118
1,99,940
2,32,311
Fixed Assets
70,108
67,231
76,756
80,279
96,397
88,904
90,470
93,466
95,744
98,963
99,905
30,548
CWIP
38,748
38,461
27,557
32,055
24,959
18,585
16,314
15,879
19,529
22,889
33,896
10,531
Investments
39,606
53,386
46,962
28,700
33,065
24,753
16,660
17,291
13,150
11,869
14,532
15,418
Other Assets
41,819
32,903
45,671
39,333
44,147
48,495
60,052
67,311
61,032
54,397
51,607
1,75,814
Total Assets
1,90,281
1,91,980
1,96,946
1,80,367
1,98,568
1,80,737
1,83,496
1,93,947
1,89,455
1,88,118
1,99,940
2,32,311
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
17,805
20,377
18,083
17,366
23,754
19,300
23,980
34,963
33,065
35,654
39,562
39,499
Investing
-4,133
-7,868
2,681
15,480
-10,594
-5,925
-6,678
-2,243
-668
-13,676
-19,158
-24,134
Financing
-13,956
-11,303
-12,425
-39,255
-10,242
-15,547
-17,565
-28,903
-34,142
-26,092
-19,223
-13,549
Net Cash Flow
-284
1,206
8,339
-6,409
2,918
-2,172
-263
3,817
-1,745
-4,114
1,181
1,816
Free Cash Flow
7,231
14,965
12,648
10,070
14,937
11,631
17,262
24,658
19,411
19,097
22,848
18,747
CFO/OP
96
-124
109
83
114
99
96
91
114
109
230
205
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
18
14
11
16
16
12
14
14
10
9
21
6
Inventory Days
129
132
161
135
184
184
153
147
124
107
234
66
Days Payable
78
267
308
202
242
275
245
221
91
83
165
88
Cash Conversion Cycle
69
-120
-136
-51
-42
-80
-77
-61
43
33
90
-16
Working Capital Days
-121
-219
-338
-182
-212
-186
-150
-82
-120
-107
-243
-121
ROCE %
9%
-14%
11%
15%
14%
10%
17%
28%
20%
21%
12%
16%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others4.50%Govt.0.06%Promot.54.72%DIIs10.83%Public14.11%FIIs15.77%As ofJun 2026

Documents

Frequently Asked Questions about Vedanta

What does Vedanta Ltd do?
Vedanta Ltd is a diversified natural resource group engaged in exploring, extracting and processing minerals and oil & gas. The group engages in the exploration, production and sale of zinc, lead, silver, copper, aluminium, iron ore and oil & gas. It has presence across India, South Africa, Namib...
Where is Vedanta Ltd (VEDL) listed?
Vedanta Ltd trades as VEDL on the NSE and under code 500295 on the BSE.
Which sector does Vedanta Ltd belong to?
Vedanta Ltd is classified under the Commodities sector, in the Diversified Metals industry.
What is the market capitalisation of Vedanta Ltd?
Vedanta Ltd has a market capitalisation of ₹1,02,354 Cr, which places it in the Large Cap band.
What is the PE ratio of Vedanta Ltd?
Vedanta Ltd trades at a PE ratio of 5.24, on earnings per share of ₹13.95, against a book value of ₹126.97 per share.
What is the 52-week high and low of Vedanta Ltd?
Over the last 52 weeks Vedanta Ltd has traded between ₹161.66 and ₹360.
Does Vedanta Ltd pay dividends?
Vedanta Ltd has a dividend yield of 12.64%.
What is the Return on Equity (ROE) of Vedanta Ltd?
Vedanta Ltd reported a return on equity of 18.20%. Its debt-to-equity ratio is 0.66.

Company Information

Vedanta Ltd is a diversified natural resource group engaged in exploring, extracting and processing minerals and oil & gas. The group engages in the exploration, production and sale of zinc, lead, silver, copper, aluminium, iron ore and oil & gas. It has presence across India, South Africa, Namibia, Ireland, Liberia & UAE. Its other businesses includes commercial power generation, steel manufacturing & port operations in India and manufacturing of glass substrate in South Korea and Taiwan.[1] Presently, India accounts for ~65% of total revenues, followed by Malaysia (9%), China (3%), UAE (1%) and others (22%).[2]

Website vedantalimited.com
CEO Mr. Navin Kumar Agarwal
Employees 17,332
Listed 1998-05-13
Face Value ₹ 1
Issued Size 3,91,03,88,057

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