Vedanta

NSE: VEDLBSE: 500295
Compare with peers
₹ 233.05▲ 7.45 (+3.3%)28 Oct, 03:28 pm IST
Market cap
₹ 88,375 Cr.
P/E
8x
P/B
2.25x
52-week range
183.82 – 360
ROE
38%
ROCE
16%
Dividend yield
11.5%
Debt / equity
0.68
Sector
Diversified Metals
Industry
Diversified Metals
Listed on
NSE, BSE

About

Vedanta Limited is an India-based company, which specializes in critical minerals, energy transition metals, power, and technology, with operations spanning India, South Africa, Namibia, Liberia, United Arab Emirates, Saudi Arabia, Korea, Taiwan and Japan. Its segments include Zinc, Lead and Silver - India; Zinc - International; Oil & Gas; Aluminium; Copper; Iron Ore; Power and Others. Zinc, Lead and Silver - India segment consists of mining of ore, manufacturing of zinc and lead ingots and silver, both from own mining and purchased concentrate. Zinc - International segment consists of exploration, mining, treatment and production of zinc, lead, copper and associated mineral concentrates for sale. Oil & Gas segment consists of exploration, development and production of oil and gas. Aluminium segment consists of mining of bauxite and manufacturing of alumina and various aluminum products. Iron ore segment consists of mining of ore and manufacturing of pig iron and metallurgical coke.

Quick check

The five things to look at first. Open one for more.

Compared with its industry

Diversified Metals: 7 companies →

Vedanta against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

  • Valuation (P/E)8 against a typical 22.9: cheaper than most peers (1st = cheapest).1st of 6
  • Sales growth+53.6% against a typical +56.2% from a year earlier.4th of 5
  • Profit growth+77.7% against a typical +28.6% from a year earlier.2nd of 5
  • Share price, 3 months−14.7% against a typical −15.4%.2nd of 5
  • Size₹ 88,374.8 Cr. market value against a typical ₹ 2,251.4 Cr. (1st = largest).1st of 6

Latest announcements

Exchange filings and their impact on the company.

  • 28 Oct 2026Outcome of Board MeetingHigh impactPositivePrice +3.3% so far today
    Continuing zinc-led revenue up 57% and EBITDA doubled, while demerger shrinks reported scale and equity.

    Vedanta reported Q2 FY27 continuing revenue of Rs 26356 crore, up 57% YoY, and EBITDA of Rs 9938 crore, more than double last year, led by Zinc Lead Silver India. Net profit from continuing operations was Rs 6202 crore versus Rs 3451 crore a year ago. The results reflect the 1 May 2026 demerger of Aluminium, Oil & Gas, Iron Ore and Power into four separate companies, so Q2 has no discontinued contribution and equity and debt are sharply lower than March 2026.

    Filing
  • 20 Oct 2026UpdatesHigh impactVery positivePrice −2.6% on 21 Oct
    Hindustan Zinc Q2 profit more than doubled, sharply lifting Vedanta's consolidated earnings and cash flows.

    Vedanta informed exchanges that its listed subsidiary Hindustan Zinc approved unaudited results for the quarter and half year ended September 30, 2026. Hindustan Zinc reported Q2 revenue of Rs 15,093 crore and net profit of Rs 6,412 crore, up sharply from Rs 8,549 crore and Rs 2,649 crore a year ago, led by zinc-lead and silver. For the half year, revenue was Rs 28,640 crore and profit Rs 11,681 crore, with debt-equity down to 0.21 times. This strong performance directly boosts Vedanta's consolidated earnings, cash flow and dividend capacity over the next year.

    Filing
  • 18 Oct 2026Press ReleaseMedium impactPositivePrice −1.2% on 19 Oct
    Vedanta doubles South Africa zinc capacity to 500,000 tonnes with USD 600 Mn Gamsberg Phase II commissioned.

    Vedanta Limited has commissioned Gamsberg Phase II in South Africa, doubling its South Africa zinc capacity to 500,000 tonnes metal-in-concentrate with an investment of nearly USD 600 million. The expansion was inaugurated by South African President Cyril Ramaphosa and is part of Vedanta's vision to reach 3 million tonnes zinc production across India and South Africa. The new volumes should lift revenue and profits over the next 12 months as the mine ramps up, against funding costs for the large capex.

    Filing
  • 8 Oct 2026DividendLow impactPositivePrice −3.2% that day
    Vedanta declared Rs 5 interim dividend worth ~Rs 1,955 cr, a ~2% yield payout.

    Vedanta's board on October 8, 2026 approved a first interim dividend of Rs 5 per share of Re 1 face value for FY27, totalling about Rs 1,955 crore. The record date is October 14, 2026, with payment to follow within statutory timelines. The payout provides ~2% dividend yield at current prices and trims cash reserves without changing the business outlook.

    Filing

Credit ratings

Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates

High safety

Rated AA+ by 2 agencies
AA+
DefaultRiskyModerateSafeVery safe
  • All agencies agree and none has raised a warning.
AgencyCurrent ratingOutlookAs of
CRISILWithdrawnStable16 Oct 2026
ICRA[ICRA]AA+Stable30 Sep 2026
India RatingsIND AA+Stable13 Aug 2026
Credit rating actions
RatingDetails
16 Oct 2026
Withdrawn
was Crisil AA+—CRISIL₹ 25,466 Cr.
30 Sep 2026
Reaffirmed
[ICRA]AA+—ICRA₹ 2,600 Cr.
17 Sep 2026
New rating
[ICRA]AA+—ICRA₹ 7,175 Cr.
17 Sep 2026
Reaffirmed
Crisil AA+—CRISIL₹ 70,397 Cr.
13 Aug 2026
▲ Upgrade2 notches
IND AA- → IND AA+—India Ratings₹ 4,089 Cr.

Research by Minerva Capital Research Solutions

Our research team's work on Vedanta

Also covered in

Sector note · 5 Jan 2025 · Free

Board meetings

Results dates and other board meetings. Full calendar

Details
28 Oct 2026UpcomingFinancial ResultsTo consider and approve the unaudited financial results for the period ended September 30, 2026
8 Oct 2026DividendTo consider 1st Interim dividend, if any
18 Sep 2026Fund RaisingIntimation of Meeting of Committee of Directors proposed to be held on Friday, September 18, 2026 to consider the proposal for issuance of Non-Convertible Debentures
30 Jul 2026Financial ResultsTo consider and approve the financial results for the period ended Jun 30, 2026
29 Apr 2026Financial ResultsTo consider and approve the financial results for the period ended March 31, 2026
23 Mar 2026DividendTo consider 3rd interim dividend, if any
25 Feb 2026Fund RaisingIntimation of Meeting of Committee of Directors proposed to be held on Wednesday, February 25, 2026 to consider the proposal for issuance of Non-Convertible Debentures

Share price

1Y change +23.26%
0 of 4 filing days came with a big price move
Volume (shares)Price (₹)
Close price

Financials

Consolidated figures in ₹ crore.

Quarterly results
₹ Cr.Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales38,94535,54135,50935,76437,63417,06316,68615,75418,74721,33724,60924,205
Expenses27,46627,01026,74125,81927,80612,05011,44011,47813,83214,81617,05015,704
Operating Profit11,4798,5318,7689,9459,8285,0135,2464,2764,9156,5217,5598,501
OPM %29%24%25%28%26%29%31%27%26%31%31%35%
Other Income1,8637793859343,1683,2022,7712,7371,2484,4265,5033,166
Interest2,5232,4172,4152,2222,6671,0731,0716091,033547694662
Depreciation2,6422,7882,7432,7312,6961,2381,1911,1161,3031,2391,3321,192
Profit before tax8,1774,1053,9955,9267,6335,9045,7555,2883,8279,16111,0369,813
Tax %111%30%43%14%27%17%14%16%9%15%15%19%
Net Profit−9152,8682,2755,0955,6034,8764,9614,4573,4797,8079,3527,918
EPS in Rs−4.85.423.689.711.139.078.918.144.614.617.1314

Growth and returns

Compounded yearly rates over each period.

Compounded Sales Growth
10 Years
2%
5 Years
−2%
3 Years
−19%
TTM
2%
Compounded Profit Growth
10 Years
13%
5 Years
8%
3 Years
17%
TTM
37%
Stock Price CAGR
10 Years
16%
5 Years
23%
3 Years
49%
TTM
—
Return on Equity
10 Years
21%
5 Years
28%
3 Years
31%
TTM
—

Shareholding

Latest: Jun 2026.

Promoters
54.72%
−1.66 pts in a year
FIIs
15.78%
+5.18 pts in a year
DIIs
10.83%
−5.64 pts in a year
Government
0.06%
0 pts in a year
Public
18.45%
+2.1 pts in a year
Others
0.16%
+0.03 pts in a year

P/E and EPS over time

Daily P/E and trailing 12-month EPS. EPS updates with each result.

P/E 8xEPS (12 months) ₹ 28.14Median P/E 3x
P/E (times)EPS (₹)

Peers

Listed companies in the same business.

Peer comparison
Vedanta₹ 233.05₹ 88,375 Cr.8x2.3x38%—
Hindustan Zinc₹ 496.00₹ 2,09,576 Cr.15.9x9.7x76.9%33.9%
Hindalco Industries₹ 860.50₹ 1,93,374 Cr.11.6x1.6x10.3%4.9%
NMDC₹ 66.30₹ 58,290 Cr.9.8x2.2x23.4%23.1%
Hindustan Copper₹ 399.40₹ 38,623 Cr.47.5x14.1x30.6%29.9%
Central Mine Planning & Design Institute Ltd₹ 186.90₹ 13,326 Cr.29.7x8x—26.5%

Management

Navin Agarwal
Executive Vice Chairman of the Board
Ajay Goel
Chief Financial Officer
Christopher Ivan Griffith
Chief Executive Officer - Base Metals
Rajiv Kumar
Chief Executive Officer - Aluminium Business
Deshnee Naidoo
Chief Executive Officer of Vedanta Group
Prerna Halwasiya
Compliance Officer, Company Secretary, Deputy Head Investor Relations
Arun Misra
Executive Director, Chief Executive Officer - Zinc Business (HZL)
Gaurav Sarup
Deputy Head HSE & Chief Sustainability Officer

Prices are delayed and for information only. Nothing on this page is investment advice.