Vedanta Ltd logo

Vedanta Ltd

VEDL NSE

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]

AI Verdict: BUY Confidence: 6%

Vedanta trades at an extremely cheap PE of 4.4x with a massive 12.07% dividend yield, supported by 69% buy ratings from analysts. However, declining sales (TTM -49%) and deteriorating working capital (193 days) warrant caution despite the deep value proposition.

Key Fundamentals

MidcapDiversified MetalsMetals & Mining
Market Cap
1.1L Cr
Volatility
Moderate
P/E Ratio
6.15
EBITDA
₹24,734 Cr
Return on Equity
17.92%
Debt to Equity
1.37
Book Value
₹126.97
EPS
₹13.95
52W High
₹360
52W Low
₹157.17

Technical Indicators

Key Insights

Strengths

3
  • Company has reduced debt.
  • 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

4
  • The company has delivered a poor sales growth of -2.28% over past five years.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.14,186 Cr.
  • Promoter holding has decreased over last 3 years: -11.7%

Growth Rate

Revenue Growth
23.92% ↗
Net Income Growth
34.54% ↗
Cash Flow Change
-0.16% ↘
ROE
5.45% ↘
ROCE
-17.54% ↘
EBITDA Margin (Avg.)
-2.21% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 1d ago
BUY
Risk high

Vedanta trades at an extremely cheap PE of 4.4x with a massive 12.07% dividend yield, supported by 69% buy ratings from analysts. However, declining sales (TTM -49%) and deteriorating working capital (193 days) warrant caution despite the deep value proposition.

Bull Case 8
  • Exceptionally low PE ratio of 4.4x indicates deep value relative to sector peers in metals and mining
  • Dividend yield of 12.07% is among the highest in Indian markets, with a payout ratio of 158% demonstrating shareholder-friendly capital allocation
  • Strong analyst consensus with 69.23% buy ratings (9 out of 13 analysts recommending buy)
  • Stock CAGR of 75% over 1 year and 41% over 3 years shows strong price momentum and re-rating
  • Healthy ROE track record of 22% over 3 years and 24% over 5 years demonstrates consistent return generation
  • Company has actively reduced debt, improving balance sheet quality and reducing financial risk
  • Long-term stock CAGR of 21% over 10 years indicates sustained wealth creation for investors
  • Price-to-book ratio of 2.22x is reasonable for a diversified natural resources company with significant asset base
Bear Case 8
  • TTM sales declined sharply by -49%, indicating severe revenue contraction in the current cycle
  • Working capital days ballooned from -5.18 days to 193 days, signaling serious deterioration in operational efficiency
  • Promoter holding decreased by 11.7% over last 3 years, raising corporate governance concerns
  • Compounded profit growth is negative at -38% TTM and -7% over 3 years, showing earnings weakness
  • Other income of Rs.14,186 Cr inflates earnings quality — core operating profit may be significantly lower
  • 5-year sales CAGR of -2.28% reflects structural inability to grow the topline organically
  • Company might be capitalizing interest costs, potentially understating true operating expenses and flattering reported profits
  • Only 1 sell rating but 3 holds (23.08%) suggest not all analysts are convinced of the upside narrative

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

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Headwinds 6
  • MSCI index removal June 22 Jun 16

    MSCI removed Vedanta from Global Standard and Large Cap indexes effective June 22 due to sharp market cap reduction post-demerger, triggering passive fund rebalancing and potential selling pressure.

  • Zambia copper going-concern warning Jun 8

    CopperTech Metals (Vedanta's Zambia unit) disclosed substantial doubt about Konkola Plc's ability to continue as a going concern in SEC filing, with operating losses of $302.4M in FY25 and $46.9M in FY26.

  • Court-ordered fly ash probe Jun 8

    Jharsuguda court directed police to file FIR against Vedanta Aluminium for alleged illegal fly ash dumping near Bheden river; Odisha govt also served ₹233.11 crore penalty notice for unauthorized water extraction.

  • Demerged entities hit lower circuits Jun 16

    Vedanta Aluminium fell 12% from listing price hitting 5% lower circuit two consecutive days; Vedanta Oil & Gas also hit 5% lower circuit with 56M pending sell orders on exchanges.

  • Dividend yield structurally reduced Jun 5

    Post-demerger dividend per share expected to fall from ₹34 (FY26) to ₹10-12 for residual Vedanta, compressing yield from 10-13% to 3-4% as cross-subsidization across businesses ends.

  • Vedanta shares down 50% YTD Jun 8

    Vedanta stock fell 50% year-to-date and 10% in one week as post-demerger price adjustment and structural changes weigh on the residual entity's valuation at ₹1.18 lakh crore market cap.

Positives 6
  • $20B capex plan announced Jun 15

    Chairman Anil Agarwal announced $20B capital expenditure over 3 years targeting 3x group size across aluminium (6 MTPA), steel (15 MT), power (20 GW), with debt reduced from $12B to ~$5B at Vedanta Resources.

  • $5.4B refinancing at 300bps savings Jun 13

    Vedanta Resources launched $5.4B refinancing ($3.6B bond buyback + $1.8B loan prepay) to cut borrowing costs from 9-10% to ~7%, saving ~$108M annually; S&P and Moody's upgraded to BB/Ba3 in May 2026.

  • Demerger unlocks 20% value Jun 15

    Combined value of five Vedanta entities reached ~₹933-943 per original share vs pre-demerger close of ₹773.25, representing 18-20% value creation; over ₹60,000 crore in shareholder value unlocked.

  • Aluminium crowned jewel entity Jun 13

    Vedanta Aluminium debuted at ₹527/share with ₹2.06 lakh crore market cap, ICRA rating upgraded to AA+, best-ever EBITDA of $1,512/tonne in Q4, plans to double capacity to 6 MTPA in 3 years.

  • Rare earth diversification play Jun 11

    Vedanta among ~10 companies expressing interest in rare earth processing facilities in Andhra Pradesh as India seeks to reduce China dependence; state targeting ₹500B in rare earth investments over a decade.

  • Copper/nickel expansion targets Jun 8

    Vedanta rebranded copper and nickel businesses under unified identities, targeting 460 KTPA copper capacity by end of next year and scaling nickel from 7 KTPA to 60 KTPA.

Neutral 8
  • New real estate subsidiary formed Jun 24

    Vedanta incorporated wholly owned subsidiary Vedanta Property Platforms Limited on June 22 with ₹1 lakh authorized capital for real estate sector entry.

  • Large block trades on NSE Jun 23

    Six block trades executed spanning ₹283-292.90 per share, with largest at ₹1,916 crore (~6.55 crore shares at ₹292.55), indicating significant institutional repositioning.

  • CEO transition underway Jun 15

    Hindustan Zinc CEO Arun Misra set to become Vedanta Ltd group CEO by July 2026; HZL delivered 20% revenue growth to ₹40,844 crore and 34% profit growth to ₹13,832 crore in FY26.

  • AGM scheduled July 14 Jun 18

    Vedanta's 61st AGM set for July 14, 2026 via video conferencing at 3:00 PM IST.

  • 15% emissions intensity cut Jun 5

    Vedanta reduced metals emissions intensity from 6.45 to 5.44 tCO₂e/tm since FY21; renewable energy consumption rose 50% YoY to nearly 4 billion units in FY26.

  • BRSR filed for FY26 Jun 19

    Vedanta filed Business Responsibility and Sustainability Report for FY2025-26 reporting improvements in GHG emissions and water intensity metrics.

  • Analyst meet June 25 Jun 20

    Vedanta scheduled sell-side analyst engagement event in Mumbai for June 25, 2026.

  • No new share encumbrance Jun 12

    Welter Trading confirmed no new encumbrance created on Vedanta shares during FY26 under SEBI takeover regulations.

TL;DR: Vedanta completed its landmark five-way demerger, unlocking 20% value premium for shareholders and creating independent sector-focused entities led by Vedanta Aluminium (₹2.06L cr market cap, AA+ rated). The positives are substantial — $20B growth capex, $5.4B refinancing at 300bps savings, and dual credit upgrades to BB/Ba3. However, risks include MSCI index deletion triggering passive outflows, structural dividend compression from 10%+ to 3-4% yield, environmental litigation in Odisha, and a going-concern warning at the Zambia copper unit. The trend is transformational rather than directional — near-term volatility from demerger mechanics and index rebalancing should fade as each entity establishes independent price discovery and investor bases over the next 2-3 quarters.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
37,930
33,733
38,945
35,541
35,509
35,764
37,634
17,063
16,686
37,824
18,747
21,337
24,609
Expenses
28,471
27,313
27,466
27,010
26,741
25,819
27,806
12,050
11,440
27,906
13,832
14,816
17,050
Operating Profit
9,459
6,420
11,479
8,531
8,768
9,945
9,828
5,013
5,246
9,918
4,915
6,521
7,559
OPM %
25%
19%
29%
24%
25%
28%
26%
29%
31%
26%
26%
31%
31%
Other Income
-631
2,326
1,863
779
385
934
3,168
3,202
2,771
985
1,248
4,426
5,520
Interest
1,805
2,110
2,523
2,417
2,415
2,222
2,667
1,073
1,071
2,026
1,033
547
737
Depreciation
2,765
2,550
2,642
2,788
2,743
2,731
2,696
1,238
1,191
2,824
1,303
1,239
1,332
PBT
4,258
4,086
8,177
4,105
3,995
5,926
7,633
5,904
5,755
6,053
3,827
9,161
11,010
Tax %
26%
19%
111%
30%
43%
14%
27%
17%
14%
26%
9%
15%
15%
Net Profit
3,132
3,308
-915
2,868
2,275
5,095
5,603
4,876
4,961
4,457
3,479
7,807
9,352
EPS in Rs
5.06
7.1
-4.8
5.42
3.68
9.7
11.13
9.07
8.91
8.14
4.6
14.6
17.13
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
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
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
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
OPM %
30%
-29%
30%
27%
25%
25%
31%
34%
23%
25%
30%
30%
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
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
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
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
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
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
Div. Payout %
-8%
-8%
83%
76%
99%
-22%
30%
89%
357%
259%
113%
76%
Figures in ₹ Crores

Balance Sheet

  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

  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

  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%

Shareholding Pattern

As of Mar 2026
Promoters 56.38%
FIIs 13.93%
DIIs 13.43%
Public 11.62%
Others 4.58%
Government 0.06%
Total 100.00%
  Mar 2021Apr 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Jul 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
55.11%
65.18%
65.18%
65.18%
69.69%
69.69%
69.69%
69.69%
69.69%
68.11%
68.11%
63.71%
63.71%
61.95%
59.32%
56.38%
56.38%
56.38%
56.38%
56.38%
56.38%
56.38%
56.38%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.01%
0.00%
0.00%
0.00%
8.78%
10.23%
12.61%
11.45%
12.02%
11.15%
10.60%
11.08%
12.15%
13.93%
DIIs
10.40%
9.09%
9.47%
4.03%
1.81%
2.46%
2.69%
10.35%
11.04%
10.20%
9.98%
10.59%
11.19%
13.15%
14.78%
15.85%
16.39%
15.49%
16.38%
16.47%
16.24%
15.30%
13.43%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.07%
0.07%
0.07%
0.07%
0.07%
0.07%
0.07%
0.07%
0.07%
0.07%
0.07%
0.07%
0.06%
0.06%
0.06%
0.06%
Public
7.52%
6.67%
6.78%
7.02%
6.59%
6.38%
7.23%
8.92%
8.63%
9.50%
10.26%
13.70%
13.17%
11.84%
11.27%
10.74%
11.32%
11.71%
11.71%
12.02%
11.84%
11.65%
11.62%
Others
26.97%
19.06%
18.57%
23.77%
21.92%
21.48%
20.40%
10.98%
10.58%
12.11%
11.58%
11.92%
11.86%
4.21%
4.34%
4.35%
4.38%
4.33%
4.31%
4.46%
4.39%
4.45%
4.58%
No. of Shareholders
0
5,86,557
5,78,737
6,21,057
6,69,966
7,15,445
7,43,582
9,51,228
13,26,950
14,11,550
15,65,260
19,42,800
19,09,460
17,85,800
17,92,820
17,81,270
18,66,940
19,99,980
20,46,990
20,87,740
20,74,960
20,31,540
21,10,600

Documents

Frequently Asked Questions about Vedanta Ltd

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 is listed on the Indian stock exchanges. It is listed on NSE: VEDL and BSE: 500295. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Vedanta Ltd belong to?
Vedanta Ltd operates in the Commodities sector within the Diversified Metals industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Vedanta Ltd?
Vedanta Ltd has a market capitalisation of approximately ₹107340.15 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Vedanta Ltd?
The Price-to-Earnings (PE) ratio of Vedanta Ltd is 6.15. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Vedanta Ltd?
Over the past 52 weeks, Vedanta Ltd has traded between a low of ₹157.17 and a high of ₹360. This range helps investors understand the stock's price volatility and recent trading levels.
Does Vedanta Ltd pay dividends?
Yes, Vedanta Ltd has a dividend yield of 12.03%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Vedanta Ltd?
Vedanta Ltd has a Return on Equity (ROE) of 17.92%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Vedanta Ltd on Tapetide?
On Tapetide, you can view Vedanta Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

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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