|
Vedanta consolidated net sales increased
35.94% to Rs 38622 crore in Q1FY23 compared to Q1FY22. Sales of Iron Ore segment has gone down
13.26% to Rs 1,367.00 crore (accounting for 3.54% of total sales). Sales of Power segment has gone up 44.49% to
Rs 1,770.00 crore (accounting for 4.59% of total sales). Sales of oil & Gas segment has gone up
64.31% to Rs 4,083.00 crore (accounting for 10.59% of total sales). Sales of copper segment has gone up 20.46% to
Rs 4,215.00 crore (accounting for 10.93% of total sales). Sales of aluminium segment has gone up 42.69%
to Rs 14,644.00 crore (accounting for 37.97% of total sales). Sales of other segment has gone up 13.10% to
Rs 1,856.00 crore (accounting for 4.81% of total sales). Sales of zinc inernational segment has gone
up 30.38% to Rs 1,459.00 crore (accounting for 3.78% of total sales). Sales of zinc and lead India segment has gone
up 54.61% to Rs 8,066.00 crore (accounting for 20.91% of total sales). Sales of silver India segment rose 0.27% to
Rs 1,109.00 crore (accounting for 2.88% of total sales). Inter-segment sales rose Rs 26.00 crore to Rs
318.00 crore.
Profit before interest, tax and other
unallocable items (PBIT) has jumped 7% to Rs 10,741.00 crore. PBIT of Iron Ore segment fell 52% to Rs
363.00 crore (accounting for 3.38% of total PBIT). PBIT of Power segment fell 77% to Rs 81.00
crore (accounting for 0.75% of total PBIT).
PBIT of oil & Gas segment rose 96% to Rs 2,081.00 crore (accounting
for 19.37% of total PBIT). PBIT of
copper segment reported loss of Rs 14.00 crore (accounting for -0.13% of total
PBIT). PBIT of aluminium segment fell
40% to Rs 2,251.00 crore (accounting for 20.96% of total PBIT). PBIT of other segment rose 5.96% to Rs 160.00
crore (accounting for 1.49% of total PBIT).
PBIT of zinc international segment rose 47% to Rs 589.00 crore
(accounting for 5.48% of total PBIT).
Operating profit margin has declined from
34.74% to 26.40%, leading to 3.30% rise in operating profit to Rs 10,197.00
crore. Raw material cost as a % of total
sales (net of stock adjustments) decreased from 28.13% to 27.32%. Purchase of finished goods cost fell from
0.30% to 0.03%. Employee cost decreased
from 2.34% to 1.98%. Other expenses
rose from 35.40% to 44.81%. Power and
Oil fuel cost rose from 13.43% to 22.70%.
Other income fell 0.81% to Rs 733 crore. PBIDT rose 3.02% to Rs 10930 crore. Provision for interest rose 2.03% to Rs 1206
crore.
PBDT rose 3.14% to Rs 9724 crore. Provision for depreciation rose 16.01% to Rs
2464 crore.
Profit before tax down 0.60% to Rs 7,260.00
crore. Share of profit/loss were nil in
both the periods. Provision for tax was
expense of Rs 1668 crore, compared to Rs 1935 crore. Effective tax rate was 22.98% compared to
26.81%.
Minority interest increased 10.58% to Rs
1,171.00 crore. Net profit attributable
to owners of the company increased 4.66% to Rs 4,421.00 crore.
Promoters’ stake was 69.69% as of 30 June
2022 ,compared to 65.18% as of 30 June 2021 .
Promoters pledged stake was 99.99% as of 30 June 2022 ,compared to
99.99% as of 30 June 2021 .
Mr
Sunil Duggal, Chief Executive Officer, Vedanta, said “I am pleased to
report that we have started FY23 with strong performance, underpinned by our
world class assets and strength of our business model. We recorded best-ever 1Q
EBITDA of Rs 10,741 crore and PAT of Rs 5,592 crore despite inflationary cost
pressures. This year, our key priorities will be delivery on committed volumes,
timely execution of projects for growth, value addition, vertical integration
& cost reduction across our key businesses, and proactive commodity price
risk management. We are continuing work on our renewed ESG purpose of
“Transforming for Good”. We have increased the number of women in
decision-making bodies to 29% and are also among the few Indian companies that
have actively recruited members from the transgender community as part of our
workforce. I am also happy to inform that we will start reporting our Scope 3
emission from FY22 Sustainability report, three years before our stated
timeline. We strongly believe in ‘Atmanirbhar Bharat Abhiyan’ to make India
self-reliant. We are one of the highest contributors to the national exchequer.
We are the only domestic private player contributing 25% of India’s Oil &
Gas production.”
Full
year results analysis
Net sales of Vedanta have increased 50.80% to
Rs 132732 crore. Sales of Iron Ore
segment has gone up 40.24% to Rs 6,350.00 crore (accounting for 4.82% of total
sales). Sales of Power segment has gone
up 8.39% to Rs 5,826.00 crore (accounting for 4.42% of total sales). Sales of oil & Gas segment has gone up 65.05%
to Rs 12,430.00 crore (accounting for 9.44% of total sales). Sales of copper segment has gone up 39.13% to
Rs 15,151.00 crore (accounting for 11.50% of total sales). Sales of Aluminum segment has gone up 77.63%
to Rs 50,881.00 crore (accounting for 38.63% of total sales). Sales of others segment has gone up 48.26% to
Rs 7,972.00 crore (accounting for 6.05% of total sales). Sales of segment has gone up 64.31% to Rs
4,484.00 crore (accounting for 3.40% of total sales). Sales of Zinc & Lead - India segment has
gone up 39.13% to Rs 24,418.00 crore (accounting for 18.54% of total
sales). Sales of Silver - India segment
fell 4.02% to Rs 4,206.00 crore (accounting for 3.19% of total sales). Inter-segment sales rose Rs 143.00 crore to
Rs 526.00 crore.
Operating profit margin has jumped from
31.04% to 33.77%, leading to 64.08% rise in operating profit to Rs 44,824.00
crore. Raw material cost as a % of total
sales (net of stock adjustments) increased from 26.19% to 27.58%. Purchase of finished goods cost rose from
0.05% to 0.10%. Employee cost decreased
from 3.28% to 2.09%. Other expenses
fell from 39.16% to 36.98%. Power and
Oil fuel cost rose from 15.68% to 15.70%.
Other income fell 24% to Rs 2600 crore. PBIDT rose 54.28% to Rs 47424 crore. Provision for interest fell 7.93% to Rs 4797
crore. Loan funds declined from Rs
57,669.00 crore as of 31 March 2021 to Rs 53,583.00 crore as of 31 March 2022. Inventories rose to Rs 14,313.00 crore as of
31 March 2022 from Rs 9,923.00 crore as of 31 March 2021. Sundry debtors were higher at Rs 4,946.00
crore as of 31 March 2022 compared to Rs 3,491.00 crore as of 31 March
2021. Cash and bank balance declined
from Rs 16,629.00 crore as of 31 March 2021 to Rs 15,592.00 crore as of 31
March 2022. Investments rose to Rs
17,291.00 crore as of 31 March 2022 from Rs 16,660.00 crore as of 31 March 2021
.
PBDT rose 66.97% to Rs 42627 crore. Provision for depreciation rose 16.46% to Rs
8895 crore. Fixed assets increased to Rs
1,06,220.00 crore as of 31 March 2022 from Rs 1,03,309.00 crore as of 31 March
2021. Intangible assets declined from Rs
3,475.00 crore to Rs 3,125.00 crore.
Profit before interest, tax and other
unallocable items (PBIT) has jumped 65.75% to Rs 45,319.00 crore. PBIT of Iron Ore segment rose 26.39% to Rs
2,280.00 crore (accounting for 5.03% of total PBIT). PBIT of Power segment fell 23.10% to Rs
1,082.00 crore (accounting for 2.39% of total PBIT). PBIT of oil & Gas segment rose 86.90% to
Rs 5,992.00 crore (accounting for 13.22% of total PBIT). PBIT of copper segment rose 35.03% to Rs
-115.00 crore (accounting for -0.25% of total PBIT). PBIT of Aluminum segment rose 123.67% to Rs
17,337.00 crore (accounting for 38.26% of total PBIT). PBIT of others segment rose 14.15% to Rs 1,049.00
crore (accounting for 2.31% of total PBIT).
PBIT of Zinc,Lead and Silver_India segment rose 39.08% to Rs 16,161.00
crore (accounting for 35.66% of total PBIT).
PBIT of segment rose 89.03% to Rs 1,533.00 crore (accounting for 3.38%
of total PBIT).
PBIT margin of Iron Ore segment fell from
39.84% to 35.91%. PBIT margin of Power
segment fell from 26.18% to 18.57%. PBIT
margin of oil & Gas segment rose from 42.57% to 48.21%. PBIT margin of copper segment rose from
negative 1.63% to negative 0.76%. PBIT
margin of Aluminum segment rose from 27.06% to 34.07%. PBIT margin of others segment fell from
17.09% to 13.16%. PBIT margin of segment
rose from 29.72% to 34.19%. Overall PBIT
margin rose from 31.42% to 34.41%.
Profit before EO grew 88.54% to Rs 33,732.00
crore. Net EO expense during the quarter
was Rs 590 crore compared to net EO expense of Rs 524 crore. PBT after EO was
up 91% to Rs 33143 crore. Provision for
tax was expense of Rs 9433 crore, compared to Rs 2334 crore. Effective tax rate was 28.46% compared to
13.44%.
Minority interest increased 43.09% to Rs
4,908.00 crore. Net profit attributable
to owners of the company increased 62.06% to Rs 18,802.00 crore.
Equity capital stood at Rs 372.00 crore as of
31 March 2022 to Rs 372.00 crore as of 31 March 2021. Per share face Value remained same at Rs
1.00.
Promoters’ stake was 69.69% as of 31 March
2022 ,compared to 55.11% as of 31 March 2021 .
Promoters pledged stake was 99.99% as of 31 March 2022 compared to
99.99% as of 31 March 2021 .
Cash flow from operating activities increased
to Rs 34,963.00 crore for year ended March 2022 from Rs 23,980.00 crore for
year ended March 2021. Cash flow used in
acquiring fixed assets during the year ended March 2022 stood at Rs 10,630.00
crore, compared to Rs 6,886.00 crore during the year ended March 2021.
The scrip is currently trading at Rs 245
|
Vedanta : Consolidated Results
|
|
Particulars
|
2206
(03)
|
2106
(03)
|
Var.(%)
|
2203
(12)
|
2103
(12)
|
Var.(%)
|
|
Net
Sales
|
38,622
|
28,412
|
36
|
132,732
|
88,021
|
51
|
|
OPM
(%)
|
26.4
|
34.7
|
|
33.8
|
31.0
|
|
|
OP
|
10,197
|
9,871
|
3
|
44,824
|
27,318
|
64
|
|
Other
Inc.
|
733
|
739
|
-1
|
2,600
|
3,421
|
-24
|
|
PBIDT
|
10,930
|
10,610
|
3
|
47,424
|
30,739
|
54
|
|
Interest
|
1,206
|
1,182
|
2
|
4,797
|
5,210
|
-8
|
|
PBDT
|
9,724
|
9,428
|
3
|
42,627
|
25,529
|
67
|
|
Depreciation
|
2,464
|
2,124
|
16
|
8,895
|
7,638
|
16
|
|
PBT
|
7,260.00
|
7,304.00
|
-1
|
33732
|
17891
|
89
|
|
Share
of Profit/(Loss) from Associates
|
0
|
1
|
-
|
1
|
-1
|
LP
|
|
PBT
before EO
|
7260
|
7305
|
-1
|
33733
|
17890
|
89
|
|
EO
Income
|
0
|
-87
|
-
|
-590
|
-524
|
-13
|
|
PBT
after EO
|
7260
|
7218
|
1
|
33143
|
17366
|
91
|
|
Taxation
|
1668
|
1935
|
-14
|
9433
|
2334
|
304
|
|
PAT
|
5592
|
5283
|
6
|
23710
|
15032
|
58
|
|
Minority
Interest (MI)
|
1171
|
1059
|
11
|
4908
|
3430
|
43
|
|
Net
profit
|
4421
|
4224
|
5
|
18802
|
11602
|
62
|
|
EPS
(Rs)*
|
11.9
|
11.5
|
|
51.3
|
32.0
|
|
|
Notes
|
|
*
EPS is on current equity of Rs 371.72 crore, Face value of Rs 1, Excluding
extraordinary items.
|
|
#
EPS is not annualised
|
|
bps
: Basis points
|
|
EO
: Extraordinary items
|
|
Figures
in Rs crore
|
|
Source:
Capitaline Corporate Database
|
|
Vedanta : Consolidated Segment
Results
|
|
|
%
of (Total)
|
2206
(03)
|
2106
(03)
|
Var.(%)
|
%
of (Total)
|
2203
(12)
|
2103
(12)
|
Var.(%)
|
|
Sales
|
|
Zinc
& Lead - India
|
21
|
8,066
|
5,217
|
55
|
19
|
24,418
|
17,550
|
39
|
|
Silver
- India
|
3
|
1,109
|
1,106
|
0
|
3
|
4,206
|
4,382
|
-4
|
|
Zinc
International
|
4
|
1,459
|
1,119
|
30
|
3
|
4,484
|
2,729
|
64
|
|
oil
& Gas
|
11
|
4,083
|
2,485
|
64
|
9
|
12,430
|
7,531
|
65
|
|
Aluminum
|
38
|
14,644
|
10,263
|
43
|
39
|
50,881
|
28,644
|
78
|
|
copper
|
11
|
4,215
|
3,499
|
20
|
12
|
15,151
|
10,890
|
39
|
|
Iron
Ore
|
4
|
1,367
|
1,576
|
-13
|
5
|
6,350
|
4,528
|
40
|
|
Power
|
5
|
1,770
|
1,225
|
44
|
4
|
5,826
|
5,375
|
8
|
|
others
|
5
|
1,856
|
1,641
|
13
|
6
|
7,972
|
5,377
|
48
|
|
Total
Reported Sales
|
100
|
38,569
|
28,131
|
37
|
100
|
131,718
|
87,006
|
51
|
|
Less:
Inter segment revenues
|
|
318
|
26
|
999
|
|
526
|
143
|
268
|
|
Net
Sales
|
|
38,251
|
28,105
|
36
|
|
131,192
|
86,863
|
51
|
|
PBIT
|
|
Zinc,
Lead and Silver
|
49
|
5230
|
3510
|
49
|
36
|
16,161
|
11,620
|
39
|
|
Zinc
International
|
5
|
589
|
401
|
47
|
3
|
1,533
|
811
|
89
|
|
oil
& Gas
|
19
|
2081
|
1063
|
96
|
13
|
5,992
|
3,206
|
87
|
|
Aluminum
|
21
|
2251
|
3725
|
-40
|
38
|
17,337
|
7,751
|
124
|
|
copper
|
0
|
-14
|
-106
|
-87
|
0
|
-115
|
-177
|
35
|
|
Iron
Ore
|
3
|
363
|
762
|
-52
|
5
|
2,280
|
1,804
|
26
|
|
Power
|
1
|
81
|
346
|
-77
|
2
|
1,082
|
1,407
|
-23
|
|
others
|
1
|
160
|
331
|
-52
|
2
|
1,049
|
919
|
14
|
|
Total
PBIT
|
100
|
10741
|
10032
|
7
|
100
|
45,319
|
27,341
|
66
|
|