Vedanta Limited reports highest ever first quarter EBITDA and 13% YoY jump in Adjusted PAT for Q1 FY26
The announcement details robust financial performance, including record EBITDA and PAT, indicating strong profitability. Significant operational improvements, strategic project commissioning, and positive future guidance, along with reaffirmed credit ratings, suggest a substantial positive impact on the company's financial health and market perception.
The company reported its highest-ever first-quarter EBITDA and a 13% YoY jump in Adjusted PAT. Operational performance across segments was strong, with several record productions and cost reductions. The credit rating was reaffirmed, and the management expressed confidence in meeting full-year guidance due to ongoing capacity expansions and mine commissioning.
* Vedanta Limited announced its Unaudited Consolidated Results for the First Quarter ended June 30, 2025 (1QFY26). * Financial Highlights: * Consolidated Revenue stood at ₹37,434 crore, marking a 6% increase year-on-year (YoY). * Achieved the highest ever first quarter EBITDA of ₹10,746 crore, up 5% YoY. * EBITDA margin (ex-Copper) was 35%, an 81 basis points YoY improvement, making it the highest in the last 13 quarters. * Adjusted Profit After Tax (PAT) jumped 13% YoY to ₹5,000 crore; reported PAT was ₹4,457 crore. * Return on Capital Employed was strong at 25%, improving by 87 bps YoY. * Net Debt stood at ₹58,220 crore, implying a Net debt/EBITDA ratio of 1.3x. * Credit Rating was reaffirmed at AA by both CRISIL and ICRA. * Liquidity improved 7% quarter-on-quarter (QoQ) and 33% YoY, with Cash and Cash Equivalents at ₹22,137 crore. * The company generated ₹3,028 crore from a 1.6% stake sale in HZL and paid an interim dividend of ₹7 per share. * Operational Highlights (1QFY26): * Aluminum: Record alumina production at 587 kt, up 9% YoY. Cast Metal production was 605 kt, up 1% YoY. Achieved lowest Hot Metal Cost (Ex-Alumina) at 888 $/t in the last 16 quarters. * Zinc India: Recorded highest-ever first quarter mined metal production at 265 kt, up 1% YoY. Lowest 1Q HZL cost at $1,010/t, lower 9% YoY. * Zinc International: Mined metal production jumped 50% YoY and 12% QoQ to 57 kt. Gamsberg’s 1Q production increased 74% YoY. * O&G: Production was 93.2 kboepd. * Iron Ore, Steel and Copper: Saleable iron ore production at 1.8 mnt, up 42% YoY. Highest Ferro Chrome production at 28 kt, up 150% QoQ. Copper Cathode production at 44 kt, up 119% YoY. * Power: Total power sales increased 33% QoQ. Commissioned 950 MW of Merchant Power Capacity YTD, taking total merchant power generation capacity to 3.83 GW. Meenakshi power plant (Unit 3, 350MW) and Athena Power Plant (Unit 1, 600MW) were commissioned in July 2025. * Management Commentary: * Mr. Anil Agarwal, Chairman, Vedanta: Stated that the 1Q performance set a strong foundation for the year, delivering the highest-ever first quarter EBITDA amidst global volatility. He highlighted operational achievements like lowest hot metal cost (ex-Alumina), lowest 1Q Zinc India CoP, and significant increases in Gamsberg's production and Ferro Chrome volumes. He expects commissioning of Train II at Lanjigarh, 435kt smelter capacity at Balco, and 1300 MW of new thermal power capacity in 2Q to enable full-year guidance, with Sijimali bauxite mine and Kuraloi coal mine in H2 further boosting performance to record highs. * Mr. Ajay Goel, CFO, Vedanta: Emphasized the highest-ever first quarter EBITDA of ₹10,746 crore and the expanded EBITDA margin of 35%. He noted the 13% YoY growth in adjusted PAT to ~₹5,000 crore and the improved Net Debt to EBITDA ratio of 1.3x, supported by the HZL stake sale. He also highlighted the reduction in the cost of debt to 9.2% and the reaffirmed AA credit rating. * FY26 Guidance: * Alumina: 3.0-3.1 MnT * Aluminium: 2.5-2.6 MnT * Zinc India Mined Metal: 1,115 - 1,135 kt * Zinc International Gamsberg: 180 - 200 kt * Oil & Gas Average Gross Volume: 95-100 kboepd * Iron Ore & VAB Karnataka: 5.5 –6.1 MnT, Orissa: 4.5 –5.2 MnT, Goa: 2.2 –2.7 MnT * Pig Iron: 950 -1050 kt * Ferrochrome: 100 –110 kt * ESG Highlights (1QFY26): * Vedanta Group was recognized in the S&P Global Sustainability Yearbook 2025, with Hindustan Zinc ranking in the Top 1% globally for ESG performance. * Renewable Energy (RE) Power Delivery agreements for 1906 MW of installed capacity are in place. * Gender diversity stood at 22%. * Over 0.5 million trees were planted in 1QFY26. * Spent ₹94 crore on CSR initiatives, impacting 2.04 million lives.
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