|
Consolidated net sales of Vedanta have
declined 6.38% to Rs 35509 crore. Sales
of Iron Ore segment has gone up 11.40% to Rs 2,472.00 crore (accounting for
7.04% of total sales). Sales of Power
segment has gone down 16.67% to Rs 1,420.00 crore (accounting for 4.04% of
total sales). Sales of oil & Gas
segment has gone up 2.81% to Rs 3,368.00 crore (accounting for 9.59% of total
sales). Sales of copper segment has gone
down 1.80% to Rs 5,015.00 crore (accounting for 14.28% of total sales). Sales of Aluminum segment has gone down 1.53%
to Rs 12,393.00 crore (accounting for 35.30% of total sales). Sales of others segment has gone down 15.58%
to Rs 2,547.00 crore (accounting for 7.25% of total sales). Sales of Zinc International has gone down
45.58% to Rs 634.00 crore (accounting for 1.81% of total sales). Sales of Zinc & Lead - India segment has
gone down 16.14% to Rs 5,901.00 crore (accounting for 16.81% of total
sales). Sales of Silver - India segment
rose 11.75% to Rs 1,360.00 crore (accounting for 3.87% of total sales). Inter-segment sales rose Rs 103.00 crore to
Rs 173.00 crore.
Profit before interest, tax and other
unallocable items (PBIT) has slumped 4.20% to Rs 8,969.00 crore. PBIT of Iron Ore segment rose 55.87% to Rs
558.00 crore (accounting for 6.22% of total PBIT). PBIT of Power segment fell 20.28% to Rs
224.00 crore (accounting for 2.50% of total PBIT). PBIT of oil & Gas segment fell 9.89% to
Rs 1,513.00 crore (accounting for 16.87% of total PBIT). PBIT of copper reported loss of Rs 12.00 crore
compared to profit of Rs 50.00 crore.
PBIT of Aluminum segment rose 54.80% to Rs 3,000.00 crore (accounting
for 33.45% of total PBIT). PBIT of
others segment fell 99.65% to Rs 1.00 crore (accounting for 0.01% of total
PBIT). PBIT of Zinc, lead and Silver
fell 16.20% to Rs 3,626.00 crore (accounting for 40.43% of total PBIT). PBIT of Zinc International fell 86.71% to Rs
59.00 crore (accounting for 0.66% of total PBIT).
PBIT margin of Iron Ore segment rose from
16.13% to 22.57%. PBIT margin of Power
segment fell from 16.49% to 15.77%. PBIT
margin of oil & Gas segment fell from 51.25% to 44.92%. PBIT margin of copper segment fell from 0.98%
to 0.24%. PBIT margin of Aluminum
segment rose from 15.40% to 24.21%. PBIT
margin of others segment fell from 9.45% to 0.04%. PBIT margin of segment fell from 38.11% to
9.31%. Overall PBIT margin rose from
25.08% to 25.55%.
Operating profit margin has declined from
24.94% to 24.69%, leading to 7.31% decline in operating profit to Rs 8,768.00
crore. Raw material cost as a % of total
sales (net of stock adjustments) decreased from 30.36% to 29.70%. Purchase of finished goods cost rose from
0.12% to 0.23%. Employee cost increased
from 2.13% to 2.16%. Other expenses rose
from 42.40% to 42.84%. Power and Oil
fuel cost fell from 17.73% to 15.83%.
Other income fell 17.16% to Rs 584
crore. PBIDT fell 7.99% to Rs 9352
crore. Provision for interest rose
33.80% to Rs 2415 crore. Loan funds rose
to Rs 72,771.00 crore as of 31 March 2024 from Rs 66,628.00 crore as of 31
March 2023. Inventories declined from Rs
15,012.00 crore as of 31 March 2023 to Rs 13,001.00 crore as of 31 March
2024. Sundry debtors were lower at Rs
3,607.00 crore as of 31 March 2024 compared to Rs 4,014.00 crore as of 31 March
2023. Cash and bank balance declined
from Rs 9,254.00 crore as of 31 March 2023 to Rs 4,327.00 crore as of 31 March
2024. Investments declined from Rs
13,150.00 crore as of 31 March 2023 to Rs 11,869.00 crore as of 31 March
2024.
PBDT fell 17.01% to Rs 6937 crore. Provision for depreciation fell 0.80% to Rs
2743 crore. Fixed assets increased to Rs
1,17,046.00 crore as of 31 March 2024 from Rs 1,11,041.00 crore as of 31 March
2023. Intangible assets increased from
Rs 4,232.00 crore to Rs 4,806.00 crore.
Profit before tax down 25.03% to Rs 4,194.00
crore. Share of profit/loss were nil in
both the periods. Extraordinary items
were increased to Rs -201.00 crore.
Provision for tax was expense of Rs 1720 crore, compared to Rs 1126
crore. Effective tax rate was 43.05%
compared to 26.44%.
Minority interest decreased 27.58% to Rs 906.00
crore. Net profit attributable to owners
of the company decreased 27.22% to Rs 1,369.00 crore.
Equity capital stood at Rs 372.00 crore as of
31 March 2024 to Rs 372.00 crore as of 31 March 2023. Per share face Value remained same at Rs
1.00.
Promoters’ stake was 61.95% as of 31 March
2024 ,compared to 68.11% as of 31 March 2023 .
Promoters pledged stake was 99.99% as of 31 March 2024 ,compared to
99.99% as of 31 March 2023.
Mr Arun
Executive Director of Vedanta, “FY 2023-24 has been a remarkable year for
Vedanta. We have achieved record production across our key businesses, a
testament to our consistent focus on operational excellence. This focus,
coupled with our commitment to cost leadership, ensured strong margins even
during a challenging commodity market. We`re especially proud of the Lanjigarh
refinery expansion to 3.5 MTPA, taking us closer to a fully integrated 3 MTPA
aluminum operation. The commencement of operations at the new Bicholim mine in
Goa marks a significant step in our growth journey. HZL is now the world`s 3rd
largest silver producer. Our commitment to sustainability has been recognized
globally – we topped the ESG rankings in
India and ranked 3rd worldwide. This focus is
further strengthened by securing 1,826 MW of renewable power through PDAs, with
the first power delivery scheduled for Q1FY25. As we move forward, operational
excellence, continued growth, and ESG leadership remains our strategic
priorities. With this commitment, we are confident in delivering significant
value for our shareholders in the coming year.”
Mr Ajay
Goel, Chief Financial Officer, Vedanta, said “Driven by operational excellence,
Vedanta achieved outstanding financial results, marking the second highest
annual revenue and EBITDA in our history, reaching ?1,41,793 crore and ?36,455
crore respectively. Through continued cost optimization, we achieved a
remarkable EBITDA margin of 30% in FY24 with ~240 basis points annual margin
expansion, underscoring our efficiency and agility. Moreover, our net debt/EBITDA
ratio improved to 1.5x from 1.7x in December 2023. At Holdco, we deleveraged by
$1.6bn in FY24 & through successful liabilities management, Vedanta has a
balanced capital structure, and will remain committed towards value creation.”
Full
year results analysis
Net sales (including other operating income)
of Vedanta has declined 2.43% to Rs 143727 crore. Sales of Iron Ore segment has gone up 39.46%
to Rs 9,069.00 crore (accounting for 6.35% of total sales). Sales of Power segment has gone down 8.51% to
Rs 6,153.00 crore (accounting for 4.31% of total sales). Sales of oil & Gas segment has gone up
18.61% to Rs 17,837.00 crore (accounting for 12.50% of total sales). Sales of copper segment has gone up 12.80% to
Rs 19,730.00 crore (accounting for 13.82% of total sales). Sales of Aluminum segment has gone down 8.15%
to Rs 48,371.00 crore (accounting for 33.89% of total sales). Sales of others segment has gone up 9.03% to
Rs 10,080.00 crore (accounting for 7.06% of total sales). Sales of Zinc International has gone down
31.73% to Rs 3,556.00 crore (accounting for 2.49% of total sales). Sales of Zinc & Lead - India segment has
gone down 21.49% to Rs 22,557.00 crore (accounting for 15.80% of total sales). Sales of Silver - India segment rose 22.33%
to Rs 5,368.00 crore (accounting for 3.76% of total sales). Inter-segment sales rose Rs 588.00 crore to
Rs 928.00 crore.
Profit before interest, tax and other
unallocable items (PBIT) has jumped 3.44% to Rs 36,455.00 crore. PBIT of Iron Ore segment rose 69.64% to Rs
1,676.00 crore (accounting for 4.60% of total PBIT). PBIT of Power segment rose 6.35% to Rs 971.00
crore (accounting for 2.66% of total PBIT).
PBIT of oil & Gas segment rose 25.64% to Rs 9,777.00 crore
(accounting for 26.82% of total PBIT). PBIT of copper segment fell 1,625.00% to Rs
-69.00 crore (accounting for -0.19% of total PBIT). PBIT of Aluminum segment rose 67.22% to Rs
9,657.00 crore (accounting for 26.49% of total PBIT). PBIT of others segment fell 50.40% to Rs
188.00 crore (accounting for 0.52% of total PBIT). PBIT of Zinc,Lead and Silver_India segment
fell 22.39% to Rs 13,562.00 crore (accounting for 37.20% of total PBIT). PBIT of Zinc International fell 64.17% to Rs
693.00 crore (accounting for 1.90% of total PBIT).
PBIT margin of Iron Ore segment rose from
15.19% to 18.48%. PBIT margin of Power
segment rose from 13.58% to 15.78%. PBIT
margin of oil & Gas segment rose from 51.75% to 54.81%. PBIT margin of copper segment fell from
negative 0.02% to negative 0.35%. PBIT
margin of Aluminum segment rose from 10.97% to 19.96%. PBIT margin of others segment fell from 4.10%
to 1.87%. PBIT margin of segment fell
from 37.13% to 19.49%. Overall PBIT
margin rose from 24.14% to 25.54%.
Operating profit margin has jumped from
23.37% to 24.49%, leading to 2.25% rise in operating profit to Rs 35,198.00
crore. Raw material cost as a % of total
sales (net of stock adjustments) increased from 30.11% to 30.73%. Purchase of finished goods cost rose from
0.04% to 0.08%. Employee cost increased
from 2.10% to 2.30%. Other expenses
fell from 44.44% to 42.37%. Power and
Oil fuel cost fell from 20.96% to 16.40%.
Other income fell 10.56% to Rs 2550
crore. PBIDT rose 1.27% to Rs 37748
crore. Provision for interest rose 52.05%
to Rs 9465 crore. Loan funds rose to Rs
72,771.00 crore as of 31 March 2024 from Rs 66,628.00 crore as of 31 March
2023. Inventories declined from Rs
15,012.00 crore as of 31 March 2023 to Rs 13,001.00 crore as of 31 March
2024. Sundry debtors were lower at Rs
3,607.00 crore as of 31 March 2024 compared to Rs 4,014.00 crore as of 31 March
2023. Cash and bank balance declined
from Rs 9,254.00 crore as of 31 March 2023 to Rs 4,327.00 crore as of 31 March
2024. Investments declined from Rs
13,150.00 crore as of 31 March 2023 to Rs 11,869.00 crore as of 31 March
2024.
PBDT fell 8.91% to Rs 28283 crore. Provision for depreciation rose 1.59% to Rs
10723 crore. Fixed assets increased to
Rs 1,17,046.00 crore as of 31 March 2024 from Rs 1,11,041.00 crore as of 31
March 2023. Intangible assets increased
from Rs 4,232.00 crore to Rs 4,806.00 crore.
Profit before tax down 14.31% to Rs 17,560.00
crore. Provision for tax was expense of
Rs 12826 crore, compared to Rs 5770 crore.
Effective tax rate was 62.98% compared to 28.46%.
Minority interest decreased 16.01% to Rs
3,300.00 crore. Net profit attributable
to owners of the company decreased 59.91% to Rs 4,239.00 crore.
Equity capital stood at Rs 372.00 crore as of
31 March 2024 to Rs 372.00 crore as of 31 March 2023. Per share face Value remained same at Rs
1.00.
Promoters’ stake was 61.95% as of 31 March
2024 ,compared to 68.11% as of 31 March 2023 .
Promoters pledged stake was 99.99% as of 31 March 2024 ,compared to
99.99% as of 31 March 2023 .
Cash flow from operating activities increased
to Rs 35,654.00 crore for year ended March 2024 from Rs 33,065.00 crore for
year ended March 2023. Cash flow used in
acquiring fixed assets during the year ended March 2024 stood at Rs 16,752.00
crore, compared to Rs 13,787.00 crore during the year ended March 2023.
The scrip is currently trading at Rs 392
|
Vedanta : Consolidated Results
|
|
Particulars
|
2403
(03)
|
2303
(03)
|
Var.(%)
|
2403
(12)
|
2303
(12)
|
Var.(%)
|
|
Net
Sales
|
35,509
|
37,930
|
-6
|
1,43,727
|
1,47,308
|
-2
|
|
OPM
(%)
|
24.7
|
24.9
|
|
24.5
|
23.4
|
|
|
OP
|
8,768
|
9,459
|
-7
|
35,198
|
34,422
|
2
|
|
Other
Inc.
|
584
|
705
|
-17
|
2,550
|
2,851
|
-11
|
|
PBIDT
|
9,352
|
10,164
|
-8
|
37,748
|
37,273
|
1
|
|
Interest
|
2,415
|
1,805
|
34
|
9,465
|
6,225
|
52
|
|
PBDT
|
6,937
|
8,359
|
-17
|
28,283
|
31,048
|
-9
|
|
Depreciation
|
2,743
|
2,765
|
-1
|
10,723
|
10,555
|
2
|
|
PBT
|
4,194
|
5,594
|
-25
|
17,560
|
20,493
|
-14
|
|
Share
of Profit/(Loss) from Associates
|
2
|
0
|
-
|
2
|
-3
|
LP
|
|
PBT
before EO
|
4,196
|
5,594
|
-25
|
17,562
|
20,490
|
-14
|
|
EO
Income
|
-201
|
-1,336
|
85
|
2,803
|
-217
|
LP
|
|
PBT
after EO
|
3,995
|
4,258
|
-6
|
20,365
|
20,273
|
0
|
|
Taxation
|
1,720
|
1,126
|
53
|
12,826
|
5,770
|
122
|
|
PAT
|
2,275
|
3,132
|
-27
|
7,539
|
14,503
|
-48
|
|
Minority
Interest (MI)
|
906
|
1,251
|
-28
|
3,300
|
3,929
|
-16
|
|
Net
profit
|
1,369
|
1,881
|
-27
|
4,239
|
10,574
|
-60
|
|
EPS
(Rs)*
|
#
|
#
|
|
9.8
|
28.8
|
|
|
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)
|
2403
(03)
|
2303
(03)
|
Var.(%)
|
%
of (Total)
|
2403
(12)
|
2303
(12)
|
Var.(%)
|
|
Sales
|
|
Iron
Ore
|
7
|
2472
|
2219
|
11
|
6
|
9069
|
6503
|
39
|
|
Power
|
4
|
1420
|
1704
|
-17
|
4
|
6153
|
6725
|
-9
|
|
oil
& Gas
|
10
|
3368
|
3276
|
3
|
13
|
17837
|
15038
|
19
|
|
copper
|
14
|
5015
|
5107
|
-2
|
14
|
19730
|
17491
|
13
|
|
Aluminum
|
35
|
12393
|
12586
|
-2
|
34
|
48371
|
52661
|
-8
|
|
others
|
7
|
2547
|
3017
|
-16
|
7
|
10080
|
9245
|
9
|
|
Zinc
International
|
2
|
634
|
1165
|
-46
|
2
|
3556
|
5209
|
-32
|
|
Zinc
& Lead - India
|
17
|
5901
|
7037
|
-16
|
16
|
22557
|
28732
|
-21
|
|
Silver
- India
|
4
|
1360
|
1217
|
12
|
4
|
5368
|
4388
|
22
|
|
Total
Reported Sales
|
100
|
35110
|
37328
|
-6
|
100
|
142721
|
145992
|
-2
|
|
Less:
Inter segment revenues
|
|
173
|
103
|
68
|
|
928
|
588
|
58
|
|
Net
Sales
|
100
|
34937
|
37225
|
-6
|
100
|
141793
|
145404
|
-2
|
|
PBIT
|
|
Iron
Ore
|
6
|
558
|
358
|
56
|
5
|
1676
|
988
|
70
|
|
Power
|
3
|
224
|
281
|
-20
|
3
|
971
|
913
|
6
|
|
oil
& Gas
|
17
|
1513
|
1679
|
-10
|
27
|
9777
|
7782
|
26
|
|
copper
|
0
|
-12
|
50
|
PL
|
0
|
-69
|
-4
|
-1625
|
|
Aluminum
|
33
|
3000
|
1938
|
55
|
26
|
9657
|
5775
|
67
|
|
others
|
0
|
1
|
285
|
-100
|
1
|
188
|
379
|
-50
|
|
Zinc,
lead and Silver
|
40
|
3626
|
4327
|
-16
|
37
|
13562
|
17474
|
-22
|
|
Zic
International
|
1
|
59
|
444
|
-87
|
2
|
693
|
1934
|
-64
|
|
Total
PBIT
|
100
|
8969
|
9362
|
-4
|
100
|
36455
|
35241
|
3
|
|
Less
: Interest
|
|
2415
|
1805
|
34
|
|
9465
|
6225
|
52
|
|
Add:
Other un-allcoable
|
|
-2561
|
-3299
|
22
|
|
-6627
|
-8740
|
24
|
|
PBT
|
100
|
3993
|
4258
|
-6
|
100
|
20363
|
20276
|
0
|
|