EBITDA declined 32% to Rs 9,362 crore in Q4 FY23 as compared with Rs 13,768 crore in Q4 FY22. EBITDA margin stood at 29% in Q4 FY23 as against 39% Q4 FY22.

In Q4 FY23, finance cost increased by 35% YoY to Rs 1,085 crore owing to increase in average borrowings and average cost of borrowings

Depreciation & amortisation for Q4 FY23 was increased by 16% YoY to Rs 2,765 crore due to increased ore production at Zinc India and higher depletion charge at oil & gas business.

Investment Income for Q4 FY23 was up 84% YoY to Rs 959 crore, on account of interest received on income tax refund, mark to market movement and change in investment mix.

The firm's gross debt stood at Rs 66,182 crore while net debt was Rs 45,260 crore as on 31 March 2023.

Cash and cash equivalents position remain healthy at Rs 20,922 crore. The company follows a Board-approved investment policy and invests in high quality debt instruments with mutual funds, bonds, and fixed deposits with banks.

The company maintained investment grade credit rating of ‘AA' with negative outlook by CRISIL and India Ratings.

Sunil Duggal, chief executive officer, Vedanta, said , “We have delivered the highest-ever free cash flow (pre-capex) of Rs 28,068 crore, enabling us to reinvest for business growth and provide our valued shareholders with attractive dividends. Our progress on ESG transformation has been recognized by leading rating agencies, making it a remarkable year for us. We finalized 1868 MW renewable power delivery agreements which brings us one step closer towards becoming carbon neutral by 2050 or sooner. Going ahead, we remain committed to operational excellence, shareholder value creation and transforming for good.”

Meanwhile, the company's board approved the appointment of Sonal Shrivastava as the chief financial officer (CFO) and key managerial personnel (KMP) of the company with effect from 1 June 2023.

Further, the board approved capex investment (net) of $ 296 million. Of these, $149 million have been earmarked for infill wells across the producing fields. The exploration work program with capex investment of $147 million shall focus on drilling wells (onshore & offshore) and seismic data acquisition.

Vedanta, a subsidiary of Vedanta Resources, is one of the world's leading oil & gas and metals company with significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium & power across India, South Africa and Namibia.