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Notes:- 1 The above results of Vedanta Limited (the Company), for the quarter ended 30 June 2026 have been reviewed by the Audit and Risk Management Committee and approved by the Board of Directors at its meeting held on 30 July 2026. The statutory auditors have carried out a limited review on these results and issued an unmodified conclusion. 2 These results have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards (Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015. The figures for the quarter ended 31 March 2026 are the balancing figures between audited figures for the full financial year ended 31 March 2026 and unaudited figures for the nine months ended 31 December 2025. 3 Net exceptional gain/ (loss): (Rs. in Crore) Particulars Quarter ended Year ended 30.06.2026 (Unaudited) 31.03.2026 (Audited) (Refer note 2) 30.06.2025 (Unaudited) 31.03.2026 (Audited) Continuing Operations: Profit on stake sale of subsidiary - 2,506 1,936 4,442 Statutory impact of new Labour Codes - - - (3) Net exceptional gain from continuing operations: - 2,506 1,936 4,439 Net deferred tax benefit on above - - - 1 Net exceptional gain (net of tax) from continuing operations: - 2,506 1,936 4,440 Discontinued Operations: Property, plant and equipment (PPE), exploration intangible assets under development, capital work-in-progress (CWIP), investments and other assets (impaired)/ reversal or (written off)/ written back in: - Aluminium - (349) - (349) - Iron ore - (853) - (853) Statutory impact of new Labour Codes - - (77) Net exceptional (loss) from discontinued operations: - (1,202) - (1,279) Current tax benefit on above - 88 88 Net deferred tax benefit on above - 18 37 Net exceptional (loss) (net of tax) from discontinued operations: - (1,096) - (1,154) Net exceptional gain (net of tax) - 1,410 1,936 3,286 ) 4 The Hon'ble National Company Law Tribunal, Mumbai Bench, vide its Order dated December 16, 2025 and January 9, 2026, approved the Scheme of Arrangement inter-alia amongst Vedanta Limited, the resulting companies (i.e., Vedanta Aluminium Metal Limited (“VAML”), Vedanta Oil And Gas Limited (formerly known as Malco Energy Limited) (“VOGL”), Vedanta Iron and Steel Limited (“VISL”) and Vedanta Power Limited (formerly known as Talwandi Sabo Power Limited)) (“VPL”), their respective shareholders and creditors under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 (Scheme), providing for the demerger of Vedanta Limited’s Aluminium (represented by the Aluminium segment), Oil & Gas (represented by the Oil and Gas segment), Iron Ore (represented by Iron Ore segment) and Merchant Power (represented by the Power segment) undertakings into VAML, VOGL, VISL and VPL respectively, on a going concern basis. The receipt of aforesaid NCLT approval, being one of the substantial approvals, meets the highly-probable criteria prescribed in Ind AS 105 Non-current Assets Held for Sale and Discontinued Operations for presentation of the Scheme as discontinued operations. Hence Aluminium, Oil and Gas, Iron Ore and Power undertakings have been disclosed as discontinued operations in standalone financial results. Accordingly, all previous period figures in the standalone statement of profit and loss have also been re-presented/re-computed, where required. The Board of Directors, at its meeting held on 20 April 2026, has inter alia, approved 1 May 2026 as effective date and appointed date of the Scheme. The management has accounted for the demerger w.e.f. 1 May 2026, in accordance with the accounting treatment prescribed under the sanctioned Scheme as a common control transaction, whereby the assets and liabilities were transferred to the Resulting Companies at their respective book values without any gain/loss. Accordingly, the results of the Discontinued Operation pertain only to the period from 1 April 2026 to 30 April 2026. Therefore, the figures for the current period are not comparable with those of the previous/ corresponding periods. Also, as required by the Scheme, all rights, obligations and contingent liabilities (including proceedings before judicial and regulatory authorities) have also been transferred to respective Resulting Company from the Effective Date. Consequently, financial impact of outcome of such proceedings after the Effective Date is not required to be recognised in these results. Brief Particulars of the Discontinued operations are given below: Oil and Gas Undertaking (Net of inter segment transactions) (Rs. in Crore) Particulars Month ended Quarter ended Year ended 30.04.2026 (Unaudited) 31.03.2026 (Audited) (Refer note 2) 30.06.2025 (Unaudited) 31.03.2026 (Audited) Revenue from operations 490 1,474 1,399 5,546 Total income 505 2,521 1,444 7,627 Total expenses 298 1,181 1,931 6,090 Profit/ (loss) before exceptional items and tax 207 1,340 (487) 1,537 Net exceptional (loss) - - - (25) Tax expense/ (benefit) 82 233 (116) 56 Profit/ (loss) from discontinued operations 125 1,107 (371) 1,456 Oil and Gas Undertaking (Gross of inter segment transactions) (Rs. in Crore) Particulars Month ended Quarter ended Year ended 30.04.2026 (Unaudited) 31.03.2026 (Audited) (Refer note 2) 30.06.2025 (Unaudited) 31.03.2026 (Audited) Revenue from operations 490 1,474 1,399 5,546 Total income 513 2,548 1,444 7,739 Total expenses 312 1,152 1,931 5,896 Profit/ (loss) before exceptional items and tax 201 1,396 (487) 1,843 Net exceptional (loss) - - - (25) Tax expense/ (benefit) 82 233 (116) 56 Profit/ (loss) from discontinued operations 119 1,163 (371) 1,762 Aluminium Undertaking (Net of inter segment transactions) (Rs. in Crore) Particulars Month ended Quarter ended Year ended 30.04.2026 (Unaudited) 31.03.2026 (Audited) (Refer note 2) 30.06.2025 (Unaudited) 31.03.2026 (Audited) Revenue from operations 4,894 14,611 10,912 50,592 Total income 4,924 14,737 11,001 51,077 Total expenses 2,787 9,244 9,051 37,136 Profit before exceptional items and tax 2,137 5,493 1,950 13,941 Net exceptional (loss) - (349) - (389) Tax expense 471 1,241 462 3,440 Profit from discontinued operations 1,666 3,903 1,488 10,112 Aluminium Undertaking (Gross of inter segment transactions) (Rs. in Crore) Particulars Month ended Quarter ended Year ended 30.04.2026 (Unaudited) 31.03.2026 (Audited) (Refer note 2) 30.06.2025 (Unaudited) 31.03.2026 (Audited) Revenue from operations 4,896 14,611 10,912 50,592 Total income 4,926 14,737 11,001 51,077 Total expenses 2,921 9,286 9,051 37,479 Profit before exceptional items and tax 2,005 5,451 1,950 13,598 Net exceptional (loss) - (349) - (389) Tax expense 471 1,241 462 3,440 Profit from discontinued operations 1,534 3,861 1,488 9,769 Iron Ore Undertaking (Net of inter segment transactions) (Rs. in Crore) Particulars Month ended Quarter ended Year ended 30.04.2026 (Unaudited) 31.03.2026 (Audited) (Refer note 2) 30.06.2025 (Unaudited) 31.03.2026 (Audited) Revenue from operations 531 1,580 1,298 6,069 Total income 548 1,625 1,421 6,282 Total expenses 444 1,287 1,231 5,679 Profit before exceptional items and tax 104 338 190 603 Net exceptional (loss) - (853) - (863) Tax expense 24 60 46 130 Profit/ (loss) from discontinued operations 80 (575) 144 (390) Iron Ore Undertaking (Gross of inter segment transactions) (Rs. in Crore) Particulars Month ended Quarter ended Year ended 30.04.2026 (Unaudited) 31.03.2026 (Audited) (Refer note 2) 30.06.2025 (Unaudited) 31.03.2026 (Audited) Revenue from operations 531 1,584 1,298 6,073 Total income 588 1,769 1,421 6,789 Total expenses 457 1,287 1,231 5,679 Profit before exceptional items and tax 131 482 190 1,110 Net exceptional (loss) - (853) - (863) Tax expense 24 60 46 130 Profit/ (loss) from discontinued operations 107 (431) 144 117 Power Undertaking (Net of inter segment transactions) (Rs. in Crore) Particulars Month ended Quarter ended Year ended 30.04.2026 (Unaudited) 31.03.2026 (Audited) (Refer note 2) 30.06.2025 (Unaudited) 31.03.2026 (Audited) Revenue from operations 100 745 210 1,839 Total income 108 750 213 1,853 Total expenses 140 520 245 1,825 (Loss)/ profit before exceptional items and tax (32) 230 (32) 28 Net exceptional (loss) - - - (2) Tax (benefit)/ expense (7) 58 (8) 6 (Loss)/ profit from discontinued operations (25) 172 (24) 20 Power Undertaking (Gross of inter segment transactions) (Rs. in Crore) Particulars Month ended Quarter ended Year ended 30.04.2026 (Unaudited) 31.03.2026 (Audited) (Refer note 2) 30.06.2025 (Unaudited) 31.03.2026 (Audited) Revenue from operations 100 745 210 1,938 Total income 108 750 213 1,952 Total expenses 142 520 245 1,830 (Loss)/ profit before exceptional items and tax (34) 230 (32) 122 Net exceptional (loss) - - - (2) Tax (benefit)/ expense (7) 58 (8) 6 (Loss)/ profit from discontinued operations (27) 172 (24) 114 Total expense includes finance cost which has been allocated between continuing and discontinued operations based on final debt allocation between business divisions of Vedanta Limited as at 30 April 2026. Accordingly, finance cost of comparative periods have been regrouped between continuing and discontinued operations. 5 Other income of continuing operations includes dividend income from subsidiaries of Rs. 2,822 Crore, Nil, Rs. 2,680 Crore and Rs. 2,680 Crore for the quarters ended 30 June 2026, 31 March 2026, 30 June 2025 and year ended 31 March 2026, respectively. Other income of discontinuing operations includes dividend income from subsidiaries of Nil, Rs. 995 Crore, Nil and Rs. 1,904 Crore for the quarters ended 30 June 2026, 31 March 2026, 30 June 2025 and year ended 31 March 2026, respectively. 6 Additional disclosures as per Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015: Particulars Quarter ended Year ended 30.06.2026 (Unaudited)* 31.03.2026 (Audited) 30.06.2025 (Unaudited) 31.03.2026 (Audited) a) Debt-Equity Ratio (in times)** 0.29 0.68 0.60 0.68 b) Debt Service Coverage Ratio (in times)** 6.26 1.97 0.89 1.28 c) Interest Service Coverage Ratio (in times)** 7.01 6.16 4.58 4.65 d) Current Ratio (in times)** 1.04 0.95 0.96 0.95 e) Long term debt to working capital Ratio (in times)** 18.54 *** *** *** f) Bad debts to Account receivable Ratio (in times)** 0.00 0.09 0.00 0.10 g) Current liability Ratio (in times)** 0.53 0.41 0.42 0.41 h) Total debts to total assets Ratio (in times)** 0.18 0.30 0.28 0.30 i) Debtors Turnover Ratio (in times)** 9.80 6.51 7.35 24.41 j) Inventory Turnover Ratio (in times)** 2.41 1.95 1.68 7.61 k) Operating-Profit Margin (%)** -1% 28% 17% 22% l) Net-Profit Margin (%)** 33% 21% 20% 16% m) Capital Redemption Reserve (Rs. in Crore) 3,125 3,125 3,125 3,125 n) Net Worth (Total Equity) (Rs. in Crore) 41,918 77,299 77,457 77,299 *The above ratios for the quarter ended 30 June 2026 have been computed based on continuing operations only. However, the ratios for the comparative periods have been calculated considering both continuing and discontinued operations. Therefore, the ratios for the quarter ended 30 June 2026 are not directly comparable with those of the comparative periods. **Not annualised, except for the year ended 31 March 2026 ***Net working capital is negative Formulae for computation of ratios are as follows: a) Debt-Equity Ratio b) Debt Service Coverage Ratio c) Interest Service Coverage Ratio d) Current Ratio e) Long term debt to working capital Ratio f) Bad debts to Account receivable Ratio g) Current liability Ratio h) Total debts to total assets Ratio i) Debtors Turnover Ratio j) Inventory Turnover Ratio k) Operating-Profit Margin (%) l) Net-Profit Margin (%) m) Capital Redemption Reserve includes Preference Share Redemption Reserve created on redemption of preference shares. 7 The NCDs of the Company outstanding as on 30 June 2026 are Rs. 7,560 Crore at carrying amount, all of which, are listed unsecured NCDs. 8 Pursuant to the Scheme of Arrangement (“Scheme”), the Oil & Gas business undertaking of the Company (“VEDL” or “Demerged Undertaking”) held within VEDL as well as its direct subsidiary (Cairn Energy Hydrocarbons Limited - “CEHL”) (together referred as “Cairn”), was demerged into Vedanta Oil & Gas Limited (“VOGL”) as a going concern with effect from 1 May 2026 (the 'Appointed Date”), as further detailed in Note 4. Subsequent to the quarter ended 30 June 2026, the Ministry of Petroleum and Natural Gas (MoPNG) has provided its no-objection/approval on 24 July 2026 in relation to the assignment of participating interests and operatorship pertaining to the oil and gas blocks transferred to VOGL. In accordance with Clause 34 of the Scheme, pending receipt of the consent of the MoPNG for the transfer of participating interests under the relevant production sharing contracts and revenue sharing contracts, VEDL held the relevant letters of intent, participating interests, production sharing contracts, revenue sharing contracts and joint operating agreements together with related assets, rights, interests, liabilities and obligations, both present and future, and conducted the related business and operations, in trust for and on behalf of VOGL from the Appointed Date. Nonetheless, the economic interest and obligations in such arrangements vested in VOGL from the Appointed Date. Accordingly, the financial results and operations of Cairn for the period from 1 April 2026 to 30 April 2026 are included in these results for the quarter ended 30 June 2026. 9 (a) During the previous financial year, a short seller had published reports alleging certain matters against some of the Vedanta Group entities including the Company. Based on management assessment, legal advice obtained and involvement of external experts management continues to believe, that these allegations are baseless and the related transactions have appropriate commercial substance, duly approved through necessary processes and that the Company remains compliant with contractual obligations and applicable laws and regulations. Accordingly, no adjustments were considered necessary in standalone financial results of the Company. Information sought by regulators/authorities have been duly provided by the Company. (b) Further, the Enforcement Directorate (ED) conducted a search and seizure operation under the Foreign Exchange Management Act, 1999, at the premises of the Company and one of its subsidiary from June 1, 2026, to June 3, 2026. During the course of the proceedings, the ED sought information, records and documents of the Company. The Company extended full cooperation to the ED officials and provided the information and documentation sought by them. The Company has not received any further communication from ED in this regard. 10 During the current quarter, the Company has undertaken business acquisition of Nicomet and Power business from Vedanta Oil And Gas Limited (formerly known as Malco Energy Limited) under common control transactions as per IND AS 103 Business Combinations”. Accordingly, the comparative standalone financial results for the quarters ended 31 March 2026 and 30 June 2025 and year ended 31 March 2026 are restated with effect from 1 April 2025. 11 The figures have been rounded off to the nearest crore of rupees. The figure '0' wherever stated represents value less than Rs. 1 Crore. By Order of Board Place : Udaipur Arun Misra Date : 30 July 2026 Executive Director (Whole-Time Director) |