Vedanta Power (VEDPOWER) Q4 21/22 earnings summary

Executive summary

• FY22 revenue rose to ₹4,423.74 crore from ₹3,858.01 crore; net loss widened to ₹121.64 crore from ₹73.10 crore, while EBITDA was ₹1,053 crore versus ₹1,116 crore.

• Technical availability fell to 76% against the 80% normative level due to turbine outages; capital overhauls helped lift H2 availability to 92.5%.

• Best-ever net station heat rate was reported at 2,437 kcal/kWh; FY22 fly ash utilisation reached 91%.

Financial highlights

• Total income was ₹4,423.74 crore versus ₹3,858.01 crore; revenue from operations was ₹4,340.42 crore versus ₹3,819.78 crore.

• Total expenses increased to ₹4,585.57 crore from ₹3,955.21 crore; loss before tax was ₹161.83 crore versus ₹97.20 crore.

• Net loss was ₹121.64 crore versus ₹73.10 crore; basic and diluted EPS was -₹0.38 versus -₹0.23.

• Finance costs were ₹740.70 crore versus ₹733.38 crore; depreciation and amortisation was ₹455.30 crore versus ₹457.41 crore.

• EBITDA was ₹1,053 crore versus ₹1,116 crore; management cited technical issues, with ₹78 crore EBITDA loss attributed to low availability.

Outlook and guidance

• FY23 priorities include sustaining operational excellence, safety, health and environmental performance; FY22 unit overhauls are expected to support higher operating performance.

• Continued digitalisation of processes and focus on governance and long-term growth were identified as priorities.