Aluminium and aluminium products firm Vedanta announced Q3FY23 results:

•  Consolidated Q3FY23:
  • Quarterly revenue of Rs 33,691 crore
  • Quarterly EBITDA of Rs 7,100 crore with EBITDA margin of c.24%.
  • Profit after tax grew 15% QoQ to Rs 3,092 crore
  • Generated robust free cash flow (pre-capex) of Rs 6,504 crore in Q3FY23
  • Continue to maintain strong double-digit return on capital employed ~23%
  • Net Debt/EBITDA of 0.96X, maintained at low level
  • Contributed to exchequer ~Rs 55,000 crore in 9MFY23
  • Proactive commodity hedging for risk management, recorded ~Rs 2,950 crore gain in 9MFY23
  • Highest dividend yield among peers; Rs 81 per share FY23 dividend including 4th interim dividend of Rs 12.5/share
  • Continue to maintain healthy cash and cash equivalents of Rs 23,474 crore as of Q3FY23.

Mr Sunil Duggal, Chief Executive Officer, Vedanta, said “we have delivered a strong set of financial results and steady operational performance in challenging macroeconomic environment. Our quarterly Profit after tax grew 15% on sequential basis to Rs 3,092 crore; free cash flow (pre capex) stood at Rs 6,504 crore with focus on working capital and cost optimization. Our ESG initiatives have been recognized by several major external rating agencies. We have approved plans for another 941 MW RE power under group captive RE power development program. I am also happy to share that Vedanta and Hindustan Zinc Limited Boards have taken strategic initiative to consolidate Zinc International under Hindustan Zinc. It will be a win-win transaction, unlocking significant value for both Vedanta Limited and Hindustan Zinc Limited shareholders.”

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