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Vedanta (VEDL) investor relations material
Vedanta Q1 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved record first quarter EBITDA of ₹10,746 crore, up 5% year-over-year, with revenue at ₹37,824 crore, and margin expansion driven by cost discipline and operational efficiency.
Adjusted PAT rose 13% year-over-year to ₹5,000 crore; reported PAT at ₹4,457 crore after one-off items.
Interim dividend of ₹7/share declared; strong liquidity with cash and equivalents at ₹22,137 crore, up 33% year-over-year.
Net debt/EBITDA improved to 1.3x from 1.5x year-over-year; interest cost reduced to 9.2%.
Unaudited Q1 FY26 results approved with unmodified auditor opinion and no material misstatements.
Financial highlights
Revenue grew 6% year-over-year to ₹37,824 crore in Q1 FY26; EBITDA reached ₹10,746 crore, margin at 35%, highest in 13 quarters.
Adjusted PAT at ₹5,000 crore, up 13% year-over-year; reported PAT at ₹4,457 crore.
Free cash flow (pre-capex) at ₹4,272 crore; ROCE at ~25%, up 87 bps year-over-year.
Net debt reduced by ₹3,100 crore year-over-year; net debt/EBITDA at 1.3x.
Basic EPS (consolidated): ₹8.15 for Q1 FY26.
Outlook and guidance
Confident of achieving FY26 guidance, with volume growth and margin expansion expected across all segments.
Aluminium production guidance: 2.5–2.6 Mnt, alumina 3.0–3.1 Mnt, COP $1,700–1,750/t.
Oil & gas production targeted at 95–100 kboepd for FY26, with new wells and ASP project to offset decline.
Power business to add 1,300 MW new capacity in Q2; further ramp-up in Athena and Meenakshi plants planned.
Demerger execution remains a top priority, with hearings scheduled and timelines on track.
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