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Vedanta Limited: Consolidated Results for the Second Quarter Ended 30 September 2019
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PR Newswire
MUMBAI, India, Nov. 14, 2019
MUMBAI, India, Nov. 14, 2019 /PRNewswire/ -- Vedanta Limited today announced its unaudited consolidated results for the Second quarter (Q2) and half year ended 30 September 2019.
Financial & Corporate Highlights
- Continued strong financial performance despite market headwinds
- Revenues of ₹ 21,739 crore, down 3% y-o-y primarily due to headwinds in the commodity prices.
- Industry leading EBITDA margin1 of 25%.
- EBITDA of ₹ 4,497 crore, down 15% y-o-y, primarily due to lower commodity prices.
- Realised power debtors of c. ₹ 900 crore at TSPL , as per Supreme Court Order.
- Strong Balance Sheet
- Gross debt reduced by ₹ 3,279 crore, in line of our continued focus on deleveraging.
- Net Debt/EBITDA at 0.9 x lowest among Indian peers.
- Net Debt reduced by ₹ 8,322 crores in Q2 FY 2020.
- Strong financial position with total cash & liquid investments of ₹ 35,817 crore.
Operational Highlights
The overall volume and cost across businesses is better/ same compared to same quarter last year, supported by favourable tailwinds on input commodity costs . Business wise highlights are :
Zinc India:
- Ore production up by 3% y-o-y at 3.6 million ton with strong growth at Rampura Agucha and Zawar Mines.
- Mined metal production at 219 kt , up 3% q-o-q.
- Entering H2, with last phase of expansion project completed enabling 1.2 mtpa capacity.
• Zinc International: Gamsberg production at 24kt in Q2, ramp up in progress.
• Oil & Gas:
- 166 wells drilled, 63 wells hooked up.
- Early gas production facility currently ramped up to over 50 mmscfd.
• Aluminium:
- Alumina production of 410kt, up 18% y-o-y.
- Hot metal cost at $ 1,852/ton, lower by 10% y-o-y
- Vedanta emerged as highest bidder for Jamkhani coal block in Odisha.
• Iron Ore: Highest ever quarterly sales in Karnataka at 1.4 million tonnes.
• Steel: Sales at 283 kt , up 6% y-o-y.
• TSPL: Plant availability of 92%.
1 Attributable PAT after exceptional items
2 Excludes custom smelting at Copper India and Zinc India operations
Mr. Srinivasan Venkatakrishnan, Chief Executive Officer, Vedanta, said, "We are at an exciting transition that will see the company accelerate in the expansion of its reserves and resource base over coming quarters. This expansion is being delivered through strict capital allocation and balance sheet focus aimed at creating value for our stakeholders. As we look forward to the year, we have in place the building blocks to enhance our performance in the three key businesses. We have immense confidence in being able to deliver the best from our assets and people whilst always being committed to our core values around ethics, governance and social responsibility."
Consolidated Financial Performance
The consolidated financial performance of the company during the period is as under:
(In Rs. crore, except as stated)
| FY2019 | Particulars | Q2 | % | Q1 | % | H1 | ||
| FY2020 | FY2019 | FY 2020 | FY2020 | FY2019 | ||||
| 90,901 | Net Sales/Income from operations | 21,739 | 22,432 | (3%) | 21,167 | 3% | 42,906 | 44,374 |
| 1,147 | Other Operating Income | 219 | 273 | (20%) | 207 | 6% | 426 | 537 |
| 24,012 | EBITDA | 4,497 | 5,281 | (15%) | 5,188 | (13%) | 9,685 | 11,729 |
| 30% | EBITDA Margin1 | 25% | 26% | | 27% | | 26% | 30% |
| 5,689 | Finance cost | 1,340 | 1,478 | (9%) | 1,341 | (0%) | 2,681 | 2,930 |
| 3,617 | Investment Income | 832 | 587 | 42% | 373 | - | 1,204 | 976 |
| (508) | Exchange gain/(loss) - (Non operational) | (50) | (161) | (70%) | 17 | - | (32) | (390) |
| 21,432 | Profit before Depreciation and Taxes | 3,939 | 4,229 | (7%) | 4,237 | (7%) | 8,176 | 9,385 Werbung Mehr Nachrichten zur Vedanta ADR Aktie kostenlos abonnieren
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