Bengaluru, 6th January, 2025: Vedanta Limited registered a sizeable growth in its aluminum and alumina production in the third quarter of fiscal 2025. Vedanta’s total aluminium production increased in the third quarter to 3% yoy to highest-ever level of 614kt and 1819kt in the nine months of fiscal 2025.
The company’s Lanjigarh refinery in Odisha registered a 7% YoY growth in alumina production from 470kt to 505kt during the third quarter, while production in the first nine months grew by 16% to 1542kt.
The company’s Zinc India unit also registered a 3% quarter-on-quarter mined metal production growth, reaching 265kt in the third quarter, driven by higher grades and increase in production at Agucha and Zawar mines. Vedanta said in its exchange filing that it registered the highest-ever nine-month refined metal production, up 3% in line with plant availability and operational parameters. At the Zinc International unit of Vedanta limited, the total mined metal production increased to 46kt, with a jump of 12% YoY and 6% sequentially.
India is the world’s second-largest aluminium producer, while Vedanta is India’s largest producer of the metal. The company manufactured more than half of India’s aluminium i.e., 2.37 million tonnes in FY24.
The Brokerage firm Emkay recently said in its report that it expects Vedanta’s aluminium business EBITDA CAGR at 35.5% over FY24- 27E, with an absolute EBITDA generation of Rs 220.4bn in FY26E. Vedanta’s demerged aluminum business would include its smelters at Jharsuguda and Balco, its alumina refinery at Lanjigarh, the Sijimali bauxite mine, captive coal mines, and power plants.
On November 21, the Mumbai bench of the National Company Law Tribunal had cleared the way for the meetings of Vedanta’s equity shareholders, secured and unsecured creditors to be held within 90 days from the receipt of its order by the company.
Vedanta expects securing creditors and shareholders approval by February and completing the demerger by mid-2025. Majority of the sector analysts have a positive outlook on the stock with a buy recommendation.
Vedanta has operations in multiple countries in sectors including oil and gas, zinc, lead, silver, copper, iron ore, steel and aluminium. The company’s shares price was up 1.9% on Tuesday.
