Vedanta Power (VEDPOWER IN) Analyst Meet Update Building a thermal platform for the next decade Not Rated
We attended the analyst meet of Vedanta Power, which is currently among the top five private thermal power producers by installed capacity and is targeting a position among the top three players by FY33. The company plans to expand its coal-based capacity from 4.2GW in FY26 to 4.8GW in FY27E (+14% YoY) and further to 12GW by FY33, implying a CAGR 16% over FY27-33E but large part of growth is back ended. Of the existing 4.2GW operational portfolio, around 3GW (74%) is tied up under long-term contracts, while 1.1GW (26%) remains merchant exposure. The expansion (7.2GW) is expected to require equity investment of approximately INR230bn, which...