Vedanta Ltd.

•

vedantalimited.comBSE: 500295NSE: VEDL

Market Cap₹ 1,07,066 Cr.

Current Price

High / Low₹ 795 / 250

Stock P/E15.4

Book Value₹ 205

Price to Book3.30

Dividend Yield12.42 %

ROCE6.6 %

ROE8.1 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Aluminium - Discontinued Operations: 58.1% • Copper: 26.1% • Iron Ore - Discontinued Operations: 7.1%

AI Sector View

AI GENERATED

Metals & Mining

Hold

The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.

Confidence

61%

View full sector analysis →

PROS

Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.06x)
Company has a consistent dividend-paying track record
Offers a healthy dividend yield of 12.4%
Company generates healthy free cash flow
Stock looks reasonably valued - P/E of 15.4 is below its historical median
Company maintains a comfortable, low leverage position

CONS

Company is loss-making at the operating / net level
Recent results are weak - TTM profit is down 45.1% versus prior year
A large part of profit comes from other income (54.1% of PBT)
Promoter holding has decreased over last 2 years: -4.6pp
Company has a low return on capital employed of 10.4%
Company's sales have been declining over the last five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Metals & MiningNon - Ferrous MetalsMetal - Non Ferrous

Part ofNIFTY NEXT 50 NIFTY ALPHA 50 NIFTY MNC NIFTY DIV OPPS 50 NIFTYLARGEMIDCAP250

S.No.	Name
1.	HINDZINC	606.00	15.00	256054.33	1.65	5469.00	144.81	13747.00	81.10	69.83	58.56
2.	HINDALCO	1025.00	14.05	230340.72	0.49	7013.00	75.15	84825.00	32.06	10.45	16.43
3.	VEDL	273.80	5.44	107066.43	12.42	7918.00	77.65	24205.00	-35.34	18.72	35.12
4.	HINDCOPPER	532.35	45.29	51479.52	0.54	352.37	162.47	936.50	81.36	39.44	54.17
5.	VOGL	36.26	0.00	14179.07	0.00	9450.00	—	25070.00	—	0.00	32.47
6.	GRAVITA	1697.80	31.97	12531.20	0.37	106.37	14.30	1475.06	41.84	17.18	7.44
7.	JAINREC	295.70	28.27	10204.19	0.00	69.41	22.79	2724.46	75.86	25.74	3.97
8.	CMRGREEN	217.30	22.41	4760.08	0.00	68.18	—	3122.73	91.98	13.41	4.33
9.	POCL	467.00	24.98	3562.19	0.43	358.80	42.58	9348.90	55.08	23.32	5.97
10.	ARDEE	53.39	19.87	1682.86	0.00	199.03	—	3388.11	—	49.04	9.90
11.	ONIXSOLAR	454.20	27.85	1674.54	0.00	208.97	—	945.10	—	32.85	29.74
12.	BHAGYANGR	409.40	21.82	1371.34	0.00	20.24	167.37	705.08	45.20	9.17	5.43

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	15,665	19,011	17,526	17,461	16,387	18,003	4,197	4,721	18,464	19,436	6,875	7,297	7,716
	14,107	14,959	14,654	14,458	12,951	14,564	4,498	4,973	15,374	16,082	7,082	7,729	8,146
Operating Profit	1,558	4,052	2,872	3,003	3,436	3,439	-301	-252	3,090	3,354	-207	-432	-430
OPM %	9.95%	21.31%	16.39%	17.20%	20.97%	19.10%	-7.17%	-5.34%	16.74%	17.26%	-3.01%	-5.92%	-5.57%
	3,816	4,930	2,570	-692	3,418	10,085	276	181	5,010	1,221	122	2,643	2,942
Interest	1,335	1,405	1,409	1,530	1,584	1,622	259	497	1,332	1,381	445	453	386
Depreciation	881	975	996	937	1,026	1,051	41	8	1,009	1,041	57	11	13
Profit before Tax	3,400	6,827	3,344	164	4,572	11,136	-160	-387	6,124	2,705	-247	2,141	2,512
Tax %	-0.24%	99.68%	7.78%	33.54%	8.51%	5.24%	-90.62%	8.27%	6.24%	18.85%	110.53%	-2.90%	-1.04%
Net Profit	3,408	22	3,084	109	4,183	10,553	-305	-355	5,742	2,195	26	2,203	4,384
	9.16	0.06	8.29	0.29	11.24	27.26	4.56	-0.91	14.69	5.61	7.43	5.63	11.21

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	36,663	45,524	38,644	35,858	37,440	63,277	68,080	70,757	17,465	24,252	41,324
	30,017	39,071	33,179	30,031	28,780	45,599	58,640	58,178	17,691	24,408	39,039
Operating Profit	6,646	6,453	5,465	5,827	8,660	17,678	9,440	12,579	-226	-156	2,285
OPM %	18.13%	14.17%	14.14%	16.25%	23.13%	27.94%	13.87%	17.78%	-1.29%	-0.64%	5.53%
	11,034	8,966	6,482	-9,698	10,716	8,029	17,482	10,624	10,832	7,663	6,928
Interest	3,896	3,353	3,757	3,328	3,193	3,146	4,384	5,679	1,961	1,515	2,665
Depreciation	2,986	2,842	3,243	3,264	2,519	2,945	3,661	3,789	35	38	1,122
Profit before Tax	10,798	9,224	4,947	-10,463	13,664	19,616	18,877	13,735	8,610	5,954	7,111
Tax %	-2.51%	21.34%	-2.59%	35.66%	23.13%	12.09%	-12.62%	51.78%	-3.38%	-4.60%	2.10%
Net Profit	11,069	7,256	5,075	-6,732	10,503	17,245	21,259	6,623	8,901	6,228	6,962
EPS	29.04	19.47	13.65	-18.10	28.23	46.36	57.15	17.80	22.76	15.93	—
Dividend Payout %	65.37%	108.69%	138.17%	-21.55%	33.65%	97.07%	177.61%	165.69%	191.09%	213.46%	—

COMPOUNDED SALES GROWTH

10 Years:: -3%
5 Years:: -8%
3 Years:: -29%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 11%
3 Years:: -6%

STOCK PRICE CAGR

10 Years:: 5%
5 Years:: -2%
3 Years:: 4%
1 Year:: -38%

RETURN ON EQUITY

10 Years:: 12%
5 Years:: 16%
3 Years:: 10%
Last Year:: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	372	372	372	372	372	372	372	372	391	391
	79,241	78,764	77,259	69,274	76,247	77,140	69,307	64,950	74,817	77,312
	48,982	43,236	44,934	48,880	40,841	48,434	53,054	48,895	51,788	5,077
Trade Payables	14,975	14,066	11,262	3,510	3,803	5,524	5,654	5,030	5,211	3,353
	20,656	10,731	17,037	13,950	16,135	16,153	25,543	31,266	27,783	91,107
Total Liabilities	1,64,226	1,47,169	1,50,864	1,35,986	1,37,398	1,47,623	1,53,930	1,50,513	1,59,990	1,77,240
	36,197	37,176	41,006	37,118	38,249	39,516	41,483	44,818	45,071	909
Capital Work in Progress	12,215	10,386	14,148	11,027	9,096	9,226	10,494	8,835	11,588	150
	86,085	68,010	68,582	62,905	62,903	61,466	64,845	60,158	66,766	49,919
	5,540	8,149	7,657	5,689	5,555	8,563	8,217	6,946	8,359	2,580
	0	0	0	0	0	0	0	1,864	2,004	881
Cash & Bank	1,414	1,594	3,891	2,193	4,336	6,911	5,465	2,142	3,884	2,472
	22,775	21,854	15,580	17,054	17,259	21,941	23,426	25,750	22,318	1,20,329
Total Assets	1,64,226	1,47,169	1,50,864	1,35,986	1,37,398	1,47,623	1,53,930	1,50,513	1,59,990	1,77,240

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	8,176	2,799	7,394	6,681	6,275	15,249	15,519	13,535	17,011	14,312
Cash from Investing	-13,606	21,033	3,954	887	8,768	6,408	16,312	6,173	-1,228	-2,139
Cash from Financing	4,817	-23,545	-9,600	-9,449	-13,800	-16,315	-29,174	-23,367	-14,649	-11,133
	-650	228	2,053	-1,363	1,015	2,657	-371	-3,659	1,134	1,040

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
59.32	56.38	56.38	56.38	56.38	56.38	56.38	56.38	54.72
10.23	11.45	12.02	11.15	10.60	11.08	12.15	13.93	15.78
14.78	16.29	15.38	16.26	16.36	16.14	15.20	13.43	10.83
0.07	0.07	0.07	0.07	0.06	0.06	0.06	0.06	0.06
15.60	15.82	16.15	16.14	16.59	16.34	16.21	16.20	18.61

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-01

Copy of Newspaper Publication

2026-09-01 - Vedanta Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-31

Shareholders meeting

2026-08-31 - Vedanta Limited has informed the Exchange regarding Notice of Postal Ballot

2026-08-27

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-27 - Vedanta Limited has informed the Exchange about Schedule of meet

2026-08-25

Rescission/termination(s)

2026-08-25 - Vedanta Limited has informed the Exchange about Rescission/termination(s)

2026-08-14

Updates

2026-08-14 - Vedanta Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of Securities and Exchange Board of India ( SEBI ) (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations ), as amended Declaration as Successful Bidder of Punnam Manganese Block under the E-Auction for the block conducted by the Department of Mines & Geology, Government of Andhra Pradesh'.

2026-08-13

Credit Rating

2026-08-13 - Vedanta Limited has informed the Exchange about Credit Rating

2026-08-11

Updates

2026-08-11 - Vedanta Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of Securities and Exchange Board of India ( SEBI ) (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations ), as amended ESG Ratings'.

2026-08-08

Rescission/termination(s)

2026-08-08 - Vedanta Limited has informed the Exchange about Rescission/termination(s)

2026-08-07

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-07 - Vedanta Limited has informed the Exchange about Schedule of meet

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