Vedanta Aluminium Metal Ltd
Vedanta Aluminium Metal Ltd
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24 extracted metrics + investor summaries across FY25–FY26.
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AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 3d agoVedanta Aluminium Metal Ltd (VAML) is India's largest aluminium producer with 2.45 million tonnes produced in FY26 and a market cap of approximately ₹1.73 lakh crore. The company trades at a PE of ~12x and recently reported Q1 FY27 net profit of ₹5,629 crore (up 216% YoY) with record revenue of ₹21,105 crore and 50% EBITDA margins, though its P/B ratio of ~435x raises questions about balance sheet structure post-demerger.
- Q1 FY27 net profit surged 216% YoY to ₹5,629 crore, indicating strong earnings momentum
- Record Q1 FY27 EBITDA of ₹10,499 crore with EBITDA margin expanding to an all-time high of 50%, up 134% YoY
- Q1 FY27 revenue reached record ₹21,105 crore, up 45% YoY driven by higher volumes and improved realizations
- Cost of production fell to $1,674/tonne (lowest in 17 quarters) with management targeting further reduction to $1,550/tonne through integration
- Ambitious capacity expansion plan to double production from ~3 MTPA to 6 MTPA within 3.5 years, addressing rising domestic aluminium demand
- PE ratio of ~12x is relatively undemanding for a commodity producer delivering record profitability and strong growth
- Record FY26 aluminium production of 2.45 million tonnes demonstrates operational scale as India's largest producer
- Dividend yield of 1.84% provides some income return while the company invests in growth capex
- Price-to-book ratio of ~435x is extraordinarily elevated, suggesting minimal equity base post-demerger restructuring and potential balance sheet concerns
- Aluminium is a cyclical commodity — current record margins at 50% EBITDA are unlikely to be sustained through a full cycle, creating earnings downside risk
- Doubling capacity to 6 MTPA requires massive capex (₹14,918 crore invested recently) which could strain cash flows and increase leverage
- Cash and equivalents on balance sheet are negligible at ₹0.07 crore as of FY26, leaving minimal liquidity buffer
- No disclosed ROE, ROCE, or debt-to-equity ratios limit visibility into capital efficiency and leverage metrics for investors
- Volume growth has been modest at just 1% YoY in recent quarters (605-620 kt), with earnings growth primarily driven by commodity prices rather than operational scale-up
- As a newly listed demerged entity (effective May 2026), limited standalone track record makes historical financial analysis difficult
- Global aluminium prices are subject to trade policy risks, China supply dynamics, and macro slowdowns which could compress margins from current peaks
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 7h ago- Record Q1 profit up 205% Jul 30
Q1FY27 profit surged 205% YoY to ₹6,597 crore with highest-ever revenue of ₹21,105 crore and EBITDA margin expanding to 50%.
- 150 MW BESS renewable deal Jul 30
Signed definitive agreements with Serentica Renewable India 9 Pvt Ltd for a 150 MW Battery Energy Storage System to ensure round-the-clock renewable power supply.
- Aug investor meets scheduled Aug 7
VAML will participate in two group investor meetings in Mumbai in August, including Emkay Confluence and Motilal Oswal conferences.
- Q1FY27 results published Aug 4
Released unaudited financial results for quarter ended June 30, 2026 along with earnings call transcript on company website.
TL;DR: Vedanta Aluminium is delivering exceptionally strong financial performance with record revenue and a 205% profit jump driven by margin expansion to 50%. The BESS deal signals commitment to sustainable energy sourcing. No visible headwinds in recent news flow. The trend is clearly improving with operational momentum and active investor engagement suggesting continued confidence.
Quarterly Results
| Jun 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|
| Sales | 14,654 | 19,124 | 21,393 |
| Expenses | 10,268 | 10,772 | 11,094 |
| Operating Profit | 4,386 | 8,352 | 10,299 |
| OPM % | 30% | 44% | 48% |
| Other Income | 208 | 47 | 309 |
| Interest | 1,000 | 922 | 1,001 |
| Depreciation | 701 | 751 | 775 |
| PBT | 2,893 | 6,726 | 8,832 |
| Tax % | 25% | 26% | 25% |
| Net Profit | 2,162 | 4,958 | 6,597 |
| EPS in Rs | 1,78,100 | 4,20,700 | 14.39 |
Profit & Loss
| Mar 2026 | |
|---|---|
| Sales | 66,891 |
| Expenses | 41,728 |
| Operating Profit | 25,163 |
| OPM % | 38% |
| Other Income | 693 |
| Interest | 3,905 |
| Depreciation | 2,890 |
| PBT | 19,061 |
| Tax % | 26% |
| Net Profit | 14,153 |
| EPS in Rs | 11,81,900 |
| Div. Payout % | 0% |
Balance Sheet
| Mar 2025 | Mar 2026 | |
|---|---|---|
| Equity Capital | 0.01 | 0.01 |
| Reserves | -0.05 | -0.08 |
| Borrowings | 0.04 | 0.06 |
| Other Liabilities | 0.01 | 0.03 |
| Total Liabilities | 0.01 | 0.02 |
| Fixed Assets | 0 | 0 |
| CWIP | 0 | 0 |
| Investments | 0 | 0 |
| Other Assets | 0.01 | 0.02 |
| Total Assets | 0.01 | 0.02 |
Cash Flow
| Mar 2025 | Mar 2026 | |
|---|---|---|
| Operating | -0.04 | -0.02 |
| Investing | 0 | 0 |
| Financing | 0.04 | 0.02 |
| Net Cash Flow | 0 | 0 |
| Free Cash Flow | -0.04 | -0.02 |
| CFO/OP | 200 | 67 |
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Company Information
Vedanta Aluminium Metal Limited was incorporated on 06.10.2023 for the demerger of Vedanta Ltd.’s aluminium undertaking. It is a part of Vedanta group and is the primary aluminium undertaking of the group.