|
Vedanta consolidated net sales increased
20.57% to Rs 36654 crore in Q2FY23 compared to Q2FY22. Sales of Iron Ore segment has gone up 0.94%
to Rs 1,506.00 crore (accounting for 4.13% of total sales). Sales of Power segment has gone up 44.51% to
Rs 1,844.00 crore (accounting for 5.05% of total sales). Sales of oil & Gas segment has gone up
33.78% to Rs 3,869.00 crore (accounting for 10.61% of total sales). Sales of copper segment has gone up 12.67% to
Rs 4,011.00 crore (accounting for 11.00% of total sales). Sales of Aluminum segment has gone up 11.28%
to Rs 13,486.00 crore (accounting for 36.97% of total sales). Sales of others segment has gone up 22.54% to
Rs 2,245.00 crore (accounting for 6.15% of total sales). Sales of segment has gone up 37.93% to Rs
1,440.00 crore (accounting for 3.95% of total sales). Sales of Zinc & Lead - India segment has
gone up 42.43% to Rs 6,999.00 crore (accounting for 19.19% of total sales). Sales of Silver - India segment rose 9.77% to
Rs 1,079.00 crore (accounting for 2.96% of total sales). Inter-segment sales rose Rs 64.00 crore to Rs
242.00 crore.
Profit before interest, tax and other
unallocable items (PBIT) has slumped 24.04% to Rs 8,038.00 crore. PBIT of Iron Ore segment fell 61.90% to Rs
213.00 crore (accounting for 2.65% of total PBIT). PBIT of Power segment fell 46.59% to Rs
141.00 crore (accounting for 1.75% of total PBIT). PBIT of oil & Gas segment rose 45.81% to
Rs 2,018.00 crore (accounting for 25.11% of total PBIT). PBIT of copper reported profit of Rs 15.00
crore compared to loss of Rs 38.00 crore.
PBIT of Aluminum segment fell 83.62% to Rs 761.00 crore (accounting for
9.47% of total PBIT). PBIT of others
reported loss of Rs 43.00 crore compared to profit of Rs 187.00 crore. PBIT of segment rose 32.38% to Rs 4,342.00
crore (accounting for 54.02% of total PBIT).
PBIT of segment rose 97.66% to Rs 591.00 crore (accounting for 7.35% of
total PBIT).
PBIT margin of Iron Ore segment fell from
37.47% to 14.14%. PBIT margin of Power
segment fell from 20.69% to 7.65%. PBIT
margin of oil & Gas segment rose from 47.86% to 52.16%. PBIT margin of copper segment rose from
negative 1.07% to 0.37%. PBIT margin of
Aluminum segment fell from 38.34% to 5.64%.
PBIT margin of others segment fell from 10.21% to 1.92%. PBIT margin of segment rose from 28.64% to
41.04%. Overall PBIT margin fell from
35.14% to 22.03%.
Operating profit margin has declined from
34.26% to 21%, leading to 26.07% decline in operating profit to Rs 7,699.00
crore. Raw material cost as a % of total
sales (net of stock adjustments) increased from 26.69% to 29.72%. Employee cost decreased from 2.27% to 2.18%. Other expenses rose from 37.01% to
46.64%. Power and Oil fuel cost rose
from 14.42% to 23.83%.
Other income rose 3.57% to Rs 697 crore. PBIDT fell 24.27% to Rs 8396 crore. Provision for interest rose 54.03% to Rs 1642
crore.
PBDT fell 32.60% to Rs 6754 crore. Provision for depreciation rose 23.89% to Rs
2624 crore.
Profit before tax down 47.74% to Rs 4,130.00
crore. Share of profit/loss were nil in
both the periods. Provision for tax was
expense of Rs 1828 crore, compared to Rs 2028 crore. Effective tax rate was 40.49% compared to
25.87%.
Minority interest decreased 26.57% to Rs
879.00 crore. Net profit attributable to
owners of the company decreased 60.82% to Rs 1,808.00 crore.
Equity capital stood at Rs 372.00 crore as of
30 September 2022 to Rs 372.00 crore as of 30 September 2021. Per share face Value remained same at Rs
1.00.
Promoters’ stake was 69.69% as of 30
September 2022 ,compared to 65.18% as of 30 September 2021 . Promoters pledged stake was 99.99% as of 30
September 2022 ,compared to 99.99% as of 30 September 2021 .
Mr
Sunil Duggal, Chief Executive Officer, Vedanta, said “I am pleased to
share that we have generated strong free cash flow (pre capex) of Rs 8,369
crore underpinned by robust operational and financial performance. I am also
happy to inform that Vedanta has entered in the club of top 10 DJSI ranked
global metals and mining companies; ranking 6th globally. Our growth and
vertical integration projects, aimed to reduce market volatility impact and
create shareholders’ value, are progressing well. We remain well positioned,
with a rich diversified asset portfolio, strong balance sheet, and cost
optimization levers, to withstand challenging macroeconomic environment.”
For
year-to-date (YTD) results analysis
Net sales (including other operating income)
of Vedanta has increased 27.99% to Rs 75276 crore. Sales of Iron Ore segment has gone down 6.36%
to Rs 2,873.00 crore (accounting for 3.83% of total sales). Sales of Power segment has gone up 44.50% to
Rs 3,614.00 crore (accounting for 4.82% of total sales). Sales of oil & Gas segment has gone up
47.89% to Rs 7,952.00 crore (accounting for 10.60% of total sales). Sales of copper segment has gone up 16.53% to
Rs 8,226.00 crore (accounting for 10.96% of total sales). Sales of Aluminum segment has gone up 25.68%
to Rs 28,130.00 crore (accounting for 37.48% of total sales). Sales of others segment has gone up 18.08% to
Rs 4,101.00 crore (accounting for 5.46% of total sales). Sales of Zinc- International segment has gone
up 34.03% to Rs 2,899.00 crore (accounting for 3.86% of total sales). Sales of Zinc & Lead - India segment has
gone up 48.70% to Rs 15,065.00 crore (accounting for 20.07% of total
sales). Sales of Silver - India segment
rose 4.74% to Rs 2,188.00 crore (accounting for 2.92% of total sales). Inter-segment sales rose Rs 90.00 crore to Rs
560.00 crore.
Profit before interest, tax and other
unallocable items (PBIT) has slumped 8.89% to Rs 18,779.00 crore. PBIT of Iron Ore segment fell 56.40% to Rs
576.00 crore (accounting for 3.07% of total PBIT). PBIT of Power segment fell 63.61% to Rs
222.00 crore (accounting for 1.18% of total PBIT). PBIT of oil & Gas segment rose 67.44% to
Rs 4,099.00 crore (accounting for 21.83% of total PBIT). PBIT of copper reported profit of Rs 1.00
crore compared to loss of Rs 145.00 crore.
PBIT of Aluminum segment fell 64.02% to Rs 3,012.00 crore (accounting
for 16.04% of total PBIT). PBIT of
others segment fell 77.41% to Rs 117.00 crore (accounting for 0.62% of total
PBIT). PBIT of Zinc,Lead and
Silver_India segment rose 40.99% to Rs 9,572.00 crore (accounting for 50.97% of
total PBIT). PBIT of Zinc- International
segment rose 68.81% to Rs 1,180.00 crore (accounting for 6.28% of total
PBIT).
PBIT margin of Iron Ore segment fell from
43.06% to 20.05%. PBIT margin of Power
segment fell from 24.39% to 6.14%. PBIT
margin of oil & Gas segment rose from 45.53% to 51.55%. PBIT margin of copper segment rose from
negative 2.05% to 0.01%. PBIT margin of
Aluminum segment fell from 37.41% to 10.71%.
PBIT margin of others segment fell from 14.92% to 2.85%. PBIT margin of Zinc- International segment
rose from 32.32% to 40.70%. Overall PBIT
margin fell from 35.39% to 25.02%.
Operating profit margin has declined from
34.65% to 23.77%, leading to 12.19% decline in operating profit to Rs 17,896.00
crore. Raw material cost as a % of total
sales (net of stock adjustments) increased from 27.39% to 28.47%. Purchase of finished goods cost fell from
0.15% to 0.02%. Employee cost decreased
from 2.30% to 2.08%. Other expenses
rose from 36.06% to 45.68%. Power and
Oil fuel cost rose from 13.93% to 23.24%.
Other income rose 1.27% to Rs 1430
crore. PBIDT fell 11.32% to Rs 19326
crore. Provision for interest rose
26.69% to Rs 2848 crore.
PBDT fell 15.69% to Rs 16478 crore. Provision for depreciation rose 19.94% to Rs 5088
crore.
Profit before tax down 25.57% to Rs 11,390.00
crore. Provision for tax was expense of
Rs 3496 crore, compared to Rs 3997 crore.
Effective tax rate was 29.69% compared to 26.48%.
Minority interest decreased 9.09% to Rs
2,051.00 crore. Net profit attributable
to owners of the company decreased 29.53% to Rs 6,229.00 crore.
Equity capital stood at Rs 372.00 crore as of
30 September 2022 to Rs 372.00 crore as of 30 September 2021. Per share face Value remained same at Rs
1.00.
Promoters’ stake was 69.69% as of 30
September 2022 ,compared to 65.18% as of 30 September 2021 . Promoters pledged stake was 99.99% as of 30
September 2022 ,compared to 99.99% as of 30 September 2021.
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 284
|
Vedanta : Consolidated Results
|
|
Particulars
|
2209
(03)
|
2109
(03)
|
Var.(%)
|
2209
(06)
|
2109
(06)
|
Var.(%)
|
2203
(12)
|
2103
(12)
|
Var.(%)
|
|
Net
Sales
|
36,654
|
30,401
|
21
|
75,276
|
58,813
|
28
|
132,732
|
88,021
|
51
|
|
OPM
(%)
|
21.0
|
34.3
|
|
23.8
|
34.7
|
|
33.8
|
31.0
|
|
|
OP
|
7,699
|
10,414
|
-26
|
17,896
|
20,381
|
-12
|
44,824
|
27,318
|
64
|
|
Other
Inc.
|
697
|
673
|
4
|
1,430
|
1,412
|
1
|
2,600
|
3,421
|
-24
|
|
PBIDT
|
8,396
|
11,087
|
-24
|
19,326
|
21,793
|
-11
|
47,424
|
30,739
|
54
|
|
Interest
|
1,642
|
1,066
|
54
|
2,848
|
2,248
|
27
|
4,797
|
5,210
|
-8
|
|
PBDT
|
6,754
|
10,021
|
-33
|
16,478
|
19,545
|
-16
|
42,627
|
25,529
|
67
|
|
Depreciation
|
2,624
|
2,118
|
24
|
5,088
|
4,242
|
20
|
8,895
|
7,638
|
16
|
|
PBT
|
4,130
|
7,903
|
-48
|
11,390
|
15,303
|
-26
|
33,732
|
17,891
|
89
|
|
Share
of Profit/(Loss) from Associates
|
-3
|
0
|
-
|
-2
|
1
|
PL
|
1
|
-1
|
LP
|
|
PBT
before EO
|
4,127
|
7,903
|
-48
|
11,388
|
15,304
|
-26
|
33,733
|
17,890
|
89
|
|
EO
Income
|
388
|
-63
|
LP
|
388
|
-212
|
LP
|
-590
|
-524
|
-13
|
|
PBT
after EO
|
4,515
|
7,840
|
-42
|
11,776
|
15,092
|
-22
|
33,143
|
17,366
|
91
|
|
Taxation
|
1,828
|
2,028
|
-10
|
3,496
|
3,997
|
-13
|
9,433
|
2,334
|
304
|
|
PAT
|
2,687
|
5,812
|
-54
|
8,280
|
11,095
|
-25
|
23,710
|
15,032
|
58
|
|
Minority
Interest (MI)
|
879
|
1,197
|
-27
|
2,051
|
2,256
|
-9
|
4,908
|
3,430
|
43
|
|
Net
profit
|
1,808
|
4,615
|
-61
|
6,229
|
8,839
|
-30
|
18,802
|
11,602
|
62
|
|
EPS
(Rs)*
|
#
|
#
|
|
#
|
#
|
|
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)
|
2209
(03)
|
2109
(03)
|
Var.(%)
|
%
of (Total)
|
2209
(06)
|
2109
(06)
|
Var.(%)
|
%
of (Total)
|
2203
(12)
|
2103
(12)
|
Var.(%)
|
|
Sales
|
|
Zinc
& Lead - India
|
19
|
6,999
|
4,914
|
42
|
20
|
15,065
|
10,131
|
49
|
19
|
24,418
|
17,550
|
39
|
|
Silver
- India
|
3
|
1,079
|
983
|
10
|
3
|
2,188
|
2,089
|
5
|
3
|
4,206
|
4,382
|
-4
|
|
Zinc
International
|
4
|
1,440
|
1,044
|
38
|
4
|
2,899
|
2,163
|
34
|
3
|
4,484
|
2,729
|
64
|
|
oil
& Gas
|
11
|
3,869
|
2,892
|
34
|
11
|
7,952
|
5,377
|
48
|
9
|
12,430
|
7,531
|
65
|
|
Aluminum
|
37
|
13,486
|
12,119
|
11
|
37
|
28,130
|
22,382
|
26
|
39
|
50,881
|
28,644
|
78
|
|
copper
|
11
|
4,011
|
3,560
|
13
|
11
|
8,226
|
7,059
|
17
|
12
|
15,151
|
10,890
|
39
|
|
Iron
Ore
|
4
|
1,506
|
1,492
|
1
|
4
|
2,873
|
3,068
|
-6
|
5
|
6,350
|
4,528
|
40
|
|
Power
|
5
|
1,844
|
1,276
|
45
|
5
|
3,614
|
2,501
|
45
|
4
|
5,826
|
5,375
|
8
|
|
others
|
6
|
2,245
|
1,832
|
23
|
5
|
4,101
|
3,473
|
18
|
6
|
7,972
|
5,377
|
48
|
|
Total
Reported Sales
|
100
|
36,479
|
30,112
|
21
|
100
|
75,048
|
58,243
|
29
|
100
|
131,718
|
87,006
|
51
|
|
Less:
Inter segment revenues
|
|
242
|
64
|
999
|
|
560
|
90
|
999
|
|
526
|
143
|
268
|
|
Net
Sales
|
|
36,237
|
30,048
|
21
|
|
74,488
|
58,153
|
28
|
|
131,192
|
86,863
|
51
|
|
PBIT
|
|
Zinc,
Lead and Silver
|
54
|
4342
|
3280
|
32
|
51
|
9572
|
6789
|
41
|
36
|
16,161
|
11,620
|
39
|
|
Zinc
International
|
7
|
591
|
299
|
98
|
6
|
1180
|
699
|
69
|
3
|
1,533
|
811
|
89
|
|
oil
& Gas
|
25
|
2018
|
1384
|
46
|
22
|
4099
|
2448
|
67
|
13
|
5,992
|
3,206
|
87
|
|
Aluminum
|
9
|
761
|
4647
|
-84
|
16
|
3012
|
8372
|
-64
|
38
|
17,337
|
7,751
|
124
|
|
copper
|
0
|
15
|
-38
|
-139
|
0
|
1
|
-145
|
-101
|
0
|
-115
|
-177
|
35
|
|
Iron
Ore
|
3
|
213
|
559
|
-62
|
3
|
576
|
1321
|
-56
|
5
|
2,280
|
1,804
|
26
|
|
Power
|
2
|
141
|
264
|
-47
|
1
|
222
|
610
|
-64
|
2
|
1,082
|
1,407
|
-23
|
|
others
|
-1
|
-43
|
187
|
-123
|
1
|
117
|
518
|
-77
|
2
|
1,049
|
919
|
14
|
|
Total
PBIT
|
100
|
8038
|
10582
|
-24
|
100
|
18779
|
20612
|
-9
|
100
|
45,319
|
27,341
|
66
|
|