Vedanta plans ₹81,743 crore capex for multi-segment expansion, targeting record EBITDA
The announcement details a significant investment of ~₹81,743 crore across all major business segments, aiming for substantial capacity increases and a 'record EBITDA'. Such a large-scale strategic expansion is expected to have a high impact on the company's future financial performance and market valuation.
The company has announced substantial capital expenditure of approximately ₹81,743 crore for multi-segment expansion, projecting a record EBITDA of $8-10 billion and an 18% CAGR over the medium term. This indicates strong growth prospects and management confidence.
Vedanta Limited has released an investor presentation outlining its significant capital expenditure (capex) plans and their potential impact on business performance. The company has approximately ₹81,743 crore (~$10 billion) worth of capex projects currently under implementation, with a large portion of new capacity expected to be commissioned in FY26 and FY27.
Key highlights from the presentation include: * Total Capex: Around ₹81,743 crore (~$10 billion) is being invested across five business segments to drive growth and achieve cost leadership. * Targeted EBITDA: The company aims for a record EBITDA of between $8-10 billion (approx. ₹68,000 crore to ₹85,000 crore, assuming ₹85/$ exchange rate) with an 18% CAGR over the medium term. * Aluminium Segment: Plans include expanding the Lanjigarh refinery from 2 MTPA to 5 MTPA (by FY26) and then to 6 MTPA (by FY28), increasing smelting capacity to 3.1 MTPA by FY28, and operationalizing bauxite and coal mines to achieve cost leadership. * Zinc & Other Base Metals Segment: Zinc India aims for 1.38 MTPA smelting capacity by FY29. Zinc International targets 525 KTPA MIC capacity by FY26 with the Gamsberg Phase-2 expansion. * Oil & Gas Segment: Production is targeted to increase to 125-150 kboepd (thousand barrels of oil equivalent per day) with projects like ASP at Mangala Cluster 'C' and various exploration campaigns. * Iron, Steel & Ferro Chrome Segment: ESL Steel aims to increase hot metal capacity from 1.7 MTPA to 3.5 MTPA by FY28. Ferrochrome capacity is slated to reach 500 KTPA by FY28. * Power Segment: Capacity is expected to nearly double to 4.78 GW by H2 FY26, including the commissioning of Meenakshi (1000 MW) and Athena (1200 MW) power plants. * Cost Leadership: Initiatives are underway to reduce the cost of production across Aluminium, Zinc India, and Zinc International segments through backward integration and operational efficiencies.
This aggressive expansion and focus on integration are expected to position Vedanta for strong earnings growth and market leadership in its core commodities.
What to do with a filing like this
Vedanta Limited filed this with the NSE as a statutory disclosure, categorised under capex. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Vedanta Limited. Read the original for the full detail.