Vedanta Limited: Consolidated Results for the Third Quarter Ended 31st December 2019

MUMBAI, India, Jan. 31, 2020

Financial & Corporate Highlights

• Stronger sequential and year over year financial performance despite market headwinds
• EBITDA1 of ₹ 6,531 crore, up 10% y-o-y.
• Industry leading EBITDA margin2 of 34% including one-offs.
• Attributable PAT at ₹ 2,348 crore, up 49% y-o-y.
• Strong Balance Sheet
• Strong financial position with total cash & liquid investments of ₹ 35,205 crore.
• Net Debt/EBITDA at 1.0x lowest among Indian peers.

Operational Highlights

Strong sequential performance across our businesses with marked cost efficiencies driving profitability. Business wise highlights are:

• Zinc India:
• Mined metal production at 235kt, up 7% q-o-q.
• Refined metal production at 219kt, up 4% q-o-q.
• Silver production at 149 tons, up 11% q-o-q.
• Zinc International:
• Gamsberg production at 31kt, up 28% q-o-q, driven by higher recovery and improved grade.
• Oil & Gas:
• 193 well drilled, 72 wells hooked up till Q3 FY20.
• Early gas production facility ramped up to designed capacity of 90 mmscfd.
• Aluminium:
• Highest ever quarterly alumina production in Lanjigarh at 476kt, up 16% q-o-q
• Continuous structural reduction in cost. Hot metal cost lower by 9% q-o-q at        $1,691/t.
• Iron Ore: Highest ever quarterly sales in Karnataka at 1.5 million tonnes.
• Steel: Production at 317kt, 18% up q-o-q, with lowest cost of sales since acquisition.
• TSPL: Plant availability at 94%.
  

Mr. Srinivasan Venkatakrishnan, Chief Executive Officer, Vedanta, said:

"We remain on track to become the world's largest long-life integrated Zinc-Lead-silver producer in 2 years while maintaining our cost leadership. Our Aluminium business continues to benefit from improved integration and systemic cost improvements. In our Oil & Gas business, the completion of new facilities and hook up of new production wells paves the way for higher volumes ahead. Our enviable project pipeline across all our key businesses will benefit from the resumption of accelerating growth from India. We look forward to an exciting fourth quarter and the year ahead."