445.5000 9.80 (2.25%)
NSE Sep 05, 2025 15:31 PM
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Vedanta Ltd.
31 Jul 2018
445.50
2.25%
Motilal Oswal
31 July 2018 Vedantas (VEDL) 1QFY19 EBITDA declined 20% QoQ (+29% YoY) to INR62.8b, missing our estimate by 8% due to lower-than-expected volumes and higher-than- expected cost at Zinc-India, Zinc-Int and O&G;, partially offset by a stronger performance at aluminum and iron ore. Finance cost inched up led by rising debt for Electrosteel acquisition and winding down of low-cost financing under the revised RBI guidelines. DDA inched up due to w/back of impairments last year. Adj. PAT declined 33% QoQ to INR15.3b (est. Copper and iron ore businesses in Goa are facing regulatory uncertainty. Iron ore mining allocation in Karnataka has doubled to 4.5mt. Gamsberg project is delayed by a quarter to September 2018. Zinc production is expected increase significantly in 2HFY19, both in India and Africa. Cost of production at Zinc-Int remains high so far.
Vedanta Ltd. has an average target of 520.00 from 5 brokers.
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