Vedanta Ltd. share price target

Revenue increased by 14.64% to Rs. 11102.51 Cr in Q4FY17 when compared to the previous quarter

Q4 EBITDA at Rs 74 bn(up110% YoY)was broadly in line with our and Bloomberg consensus estimates. Theincrease was mainly due to (a) higher Zinc LME priceat USD 2,775(up 65% YoY) and higher zinc volume at Hindustan Zinc at 260kt (up 35% YoY),(b)higher aluminum production at 353kt (up 56% YoY)

Vedanta reported a healthy Q4FY17 performance wherein the topline, EBITDA and PAT came in line with our estimate Gross income from operations was at | 23691.4 crore. After adjusting for excise duty, net operating income was at | 22511.3 crore (up 41.5% YoY, 15.9% QoQ), in line with our estimate of | 22643.2 crore EBITDA came in at | 7350.1 crore (up 109.1% YoY, 25.0% QoQ) inline with our estimate of | 7225.5 crore. EBITDA margins were at 32.7%, marginally higher than our estimate of 31.9% (Q3FY17: 30.3%; Q4FY16: 22.1%). The ensuing attributable PAT before...

Vedanta has reported production disruption at its Aluminium operations in Odisha and power plant in Punjab. We estimate no major financial impact aggregate EBITDA loss of ~Rs 5 bn in FY18, which is less than 2% of total estimated EBITDA of Rs 280 bn.

Revenue rose by 23.33% to Rs. 19320.03 Cr in Q3FY17 when compared to the previous quarter. Also, it rose by 30.59% when compared with Q3FY16.

ICICI Securities Ltd | Retail Equity Research Vedanta reported an operationally in line Q3FY17 performance. Topline, EBITDA came in line with our estimate while reported PAT...

ICICI Securities Ltd | Retail Equity Research For Q2FY17, Vedanta reported a healthy set of numbers. The topline came in line with our estimates while the EBITDA and PAT came in higher than our estimates. The better-than-expected performance was driven by the robust performance from Zinc India and oil & gas segments. Gross consolidated revenues for the quarter came in at | 16777.7 crore. After adjusting for excise, consolidated net operating revenues came in at | 15859.6 crore (down 4.2% YoY, up...

Key takeaways  from CEO track; introducing merged entity estimates : Hosted Mr Tom Albanese, CEO of Vedanta (VEDL) at our 12 AGIC in Mumbai. Cairn India’s (CAIR) minority shareholders have approved the merger, recently. In this note, we introduce VEDL’s estimates on merged entity basis along with the highlights of Mr Albanese’s presentation.

VEDL’s diversified portfolio of natural resources is witnessing multiple tailwinds, which will drive earnings.They expect attributable EBITDA to grow at a CAGR of 22% over FY16-18 to INR183b.The target price is reduced by INR10 to INR160/share based on FY18E SOTP. And are optimistic about the business, but current stock price has 2% downside. Maintain Neutral.

Turnaround slower than expected; working capital up Strong stock performance leaves little upside; downgrade to Neutral Vedanta's (VEDL) 1QFY17 EBITDA of INR34.4b (-1% QoQ/-24% YoY) was below our estimate of INR39.9b. Cost of production of aluminum was temporarily higher than expected, though volumes are ramping up as expected. Iron ore volumes were up 14% QoQ, yet fell short of expectations. EBITDA (ex- HZ and CAIR) declined 9% QoQ (but grew 18% YoY) to INR15.1b, below our estimate of INR19.4b....

Vedanta reported a mixed set of Q1FY17 numbers wherein the topline came in lower than our estimate while the ensuing PAT came in higher than our estimate. The topline for the quarter came in at | 14437.1 crore (down 15.1% YoY, 9.7% QoQ, lower than our estimate of | 17079.5 crore). Revenues came in below our estimate...