| Scrip Code | 500295 |
|---|---|
| NSE Symbol | VEDL |
| MSEI Symbol | NOTLISTED |
| ISIN | INE205A01025 |
| Name of company | Vedanta Limited |
| Type of company | Main Board |
| Class of security | Equity |
| Date of start of financial year | 01-04-2026 |
| Date of end of financial year | 31-03-2027 |
| Date of board meeting when results were approved | 28-10-2026 |
| Date on which prior intimation of the meeting for considering financial results was informed to the exchange | 22-10-2026 |
| Description of presentation currency | INR |
| Level of rounding used in financial results | Lakhs |
| Reporting Type | Quarterly |
| Reporting Quarter | Second quarter |
| Nature of report standalone or consolidated | Consolidated |
| Whether results are audited or unaudited for the quarter ended | Unaudited |
| Whether results are audited or unaudited for the Year to date for current period ended/year ended | Unaudited |
| Segment Reporting | Multi segment |
| Description of single segment | |
| Start date and time of board meeting | 28-10-2026 13:00:00 |
| End date and time of board meeting | 28-10-2026 14:00:00 |
| Whether cash flow statement is applicable on company | Yes |
| Type of cash flow statement | Cash Flow Indirect |
| Declaration of unmodified opinion or statement on impact of audit qualification | Declaration of unmodified opinion |
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-07-2026 | 01-04-2026 |
| B | Date of end of reporting period | 30-09-2026 | 30-09-2026 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Consolidated | Consolidated |
| 1 | Income | ||
| Revenue from operations | 26,35,600.00 | 50,56,100.00 | |
| Other income | 51,000.00 | 1,05,200.00 | |
| Total income | 26,86,600.00 | 51,61,300.00 | |
| 2 | Expenses | ||
| (a) | Cost of materials consumed | 9,24,200.00 | 17,91,200.00 |
| (b) | Purchases of stock-in-trade | 17,200.00 | 17,200.00 |
| (c) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | (67,100.00) | (1,19,400.00) |
| (d) | Employee benefit expense | 40,900.00 | 82,200.00 |
| (e) | Finance costs | 69,600.00 | 1,35,800.00 |
| (f) | Depreciation, depletion and amortisation expense | 1,33,900.00 | 2,53,100.00 |
| (f) | Other Expenses | ||
| 1 | Power and fuel charges | 1,14,700.00 | 2,28,000.00 |
| 2 | Other expenses | 6,14,200.00 | 12,15,300.00 |
| Total other expenses | 7,28,900.00 | 14,43,300.00 | |
| Total expenses | 18,47,600.00 | 36,03,400.00 | |
| 3 | Total profit before exceptional items and tax | 8,39,000.00 | 15,57,900.00 |
| 4 | Exceptional items | 0.00 | 0.00 |
| 5 | Total profit before tax | 8,39,000.00 | 15,57,900.00 |
| 6 | Tax expense | ||
| 7 | Current tax | 2,17,800.00 | 3,98,800.00 |
| 8 | Deferred tax | 1,000.00 | 9,500.00 |
| 9 | Total tax expenses | 2,18,800.00 | 4,08,300.00 |
| 10 | Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement | 0.00 | 0.00 |
| 11 | Net Profit Loss for the period from continuing operations | 6,20,200.00 | 11,49,600.00 |
| 12 | Profit (loss) from discontinued operations before tax | 0.00 | 3,44,100.00 |
| 13 | Tax expense of discontinued operations | 0.00 | 81,700.00 |
| 14 | Net profit (loss) from discontinued operation after tax | 0.00 | 2,62,400.00 |
| 15 | Share of profit (loss) of associates and joint ventures accounted for using equity method | 0.00 | 0.00 |
| 16 | Total profit (loss) for period | 6,20,200.00 | 14,12,000.00 |
| 17 | Other comprehensive income net of taxes | 10,400.00 | 1,23,300.00 |
| 18 | Total Comprehensive Income for the period | 6,30,600.00 | 15,35,300.00 |
| 19 | Total profit or loss, attributable to | ||
| Profit or loss, attributable to owners of parent | 3,65,000.00 | 9,12,300.00 | |
| Total profit or loss, attributable to non-controlling interests | 2,55,200.00 | 4,99,700.00 | |
| 20 | Total Comprehensive income for the period attributable to | ||
| Comprehensive income for the period attributable to owners of parent | 3,78,000.00 | 10,24,400.00 | |
| Total comprehensive income for the period attributable to owners of parent non-controlling interests | 2,52,600.00 | 5,10,900.00 | |
| 21 | Details of equity share capital | ||
| Paid-up equity share capital | 39,100.00 | 39,100.00 | |
| Face value of equity share capital | 1 | 1 | |
| 27 | Details of debt securities | ||
| 22 | Reserves excluding revaluation reserve | ||
| 23 | Earnings per share | ||
| i | Earnings per equity share for continuing operations | ||
| Basic earnings (loss) per share from continuing operations | 9.35 | 17.3 | |
| Diluted earnings (loss) per share from continuing operations | 9.3 | 17.2 | |
| ii | Earnings per equity share for discontinued operations | ||
| Basic earnings (loss) per share from discontinued operations | 0 | 6.07 | |
| Diluted earnings (loss) per share from discontinued operations | 0 | 6.03 | |
| ii | Earnings per equity share | ||
| Basic earnings (loss) per share from continuing and discontinued operations | 9.35 | 23.37 | |
| Diluted earnings (loss) per share from continuing and discontinued operations | 9.3 | 23.23 | |
| 24 | Debt equity ratio | 1.1500 | 1.1500 |
| 25 | Debt service coverage ratio | 4.8700 | 3.3800 |
| 26 | Interest service coverage ratio | 12.7900 | 12.3900 |
| 27 | Disclosure of notes on financial results | Textual Information(1) | |
| Textual Information(1) | Notes:- 1 The above consolidated results of Vedanta Limited (the Company) and its subsidiaries (the Group), jointly controlled entities, and associates for the quarter and half year ended 30 September 2026 have been reviewed by the Audit and Risk Management Committee and approved by the Board of Directors in its meeting held on 28 October 2026. The statutory auditors have caried 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. 3 Subsequent to the quarter ended 30 September 2026, the Board of Directors of the Company, on 08 October 2026, approved the first interim dividend of Rs. 5/- per equity share on face value on Rs. 1/- per equity share for FY 2026-27. 4 Net exceptional (loss)/gain : (Rs. in Crore) Particulars Quarter ended Half year ended Year ended 30.09.2026 (Unaudited) 30.06.2026 (Unaudited) 30.09.2025 (Unaudited) 30.09.2026 (Unaudited) 30.09.2025 (Unaudited) 31.03.2026 (Audited) Continuing Operations: Impact of state levies: Zinc - - - - - 56 Statutory impact of new Labour Codes - - - - - (36) Net exceptional gain - - - - - 20 Current tax (expense) on above - - - - - (6) Net deferred tax benefit on above - - - - - 1 Net exceptional gain (net of tax) from continuing operations (A): - - - - - 15 Discontinued Operations: Property, plant and equipment (PPE), capital work-in-progress (CWIP) and other assets written back/ (written off) or (impaired)/ reversed: - Aluminium - - - - - (349) - Iron Ore - - - - - (1,471) Power Segment: - Trade receivables written off - - (1,407) - (1,407) (1,407) - Late Payment Surcharge - - - - - (215) - Capital creditor settlement - - (660) - (660) (660) Statutory impact of new Labour Codes - - - - - (96) Net exceptional (loss) - - (2,067) - (2,067) (4,198) Current tax benefit on above - - - - - 88 Net deferred tax benefit on above - - 520 - 520 598 Net exceptional (loss) (net of tax) from discontinuing operations (B): - - (1,547) - (1,547) (3,512) Less: Non-controlling interests on above (C) - - - - - 5 Net exceptional (loss), net of tax and non-controlling interests (A+B+C) - - (1,547) - (1,547) (3,502) The Group has challenged the said letter before the Hon’ble Delhi High Court through a writ petition filed in September 2025, primarily on the grounds that the rejection is arbitrary and did not consider relevant factors under 2017 Extension policy. Pursuant to the Delhi High Court’s judgement dated 6 January 2026, notices have been issued in the matter and the parties have been directed to maintain status quo. Reply has been filed by the DGH and ONGC and Group has filed its rejoinder. DGH has also filed an application seeking vacation of the interim order. The matter is being heard. Based on provisions of PSC and its interpretation of 2017 extension policy, management believes that extension would be granted by MoPNG as the application for extension of the PSC was made in compliance with the timelines and criteria under the 2017 Extension Policy. Accordingly, no adjustments have been made to the Consolidated Financial results for the quarter and year ended 31 March 2026. 5 The Hon'ble National Company Law Tribunal, Mumbai Bench, vide its Order dated 16 December 2025 and 9 January 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 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. Further, as of 31 March 2026, debt allocation between continuing and discontinued operations was based on management’s best estimate. Following finalization of the debt allocation between the Company and the Resulting Companies, as aligned with the concerned lenders pursuant to the demerger, comparative debt balances and related finance costs for the quarter and year ended of comparative periods have been reallocated regrouped between continuing and discontinued operations. 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 IND AS 105 - Non-current Assets Held for Sale and Discontinued Operations are given below. (A) Carrying value of net assets of the Demerged Undertaking (net of inter segment balances) as at 31 March 2026 (Rs. in Crore) Particulars Oil and Gas Undertaking Aluminium undertaking Iron Ore & Steel Undertaking Power Undertaking Total A ASSETS Non-current assets (a) Property, plant and equipment 9,195 54,837 6,531 11,882 82,445 (b) Capital work-in-progress 6,219 9,316 2,755 1,703 19,993 (c) Intangible assets 53 912 522 2 1,489 (d) Exploration intangible assets under development 2,571 1,163 - - 3,734 (e) Investments accounted for using the equity method - - - - - (f) Financial assets (i) Investments 25 849 - - 874 (ii) Loans - - - - - (iii) Trade receivables - 133 - 1,017 1,150 (iv) Derivatives - 229 - - 229 (v) Others 2,516 1,138 120 30 3,804 (g) Deferred tax assets (net) - - 1,990 376 2,366 (h) Income tax assets (net) - - 134 2 136 (i) Other non-current assets 182 2,180 624 96 3,082 Total non-current assets 20,761 70,757 12,676 15,108 1,19,302 Current assets (a) Inventories 728 6,871 1,897 515 10,011 (b) Financial assets (i) Investments 990 2,597 308 7 3,902 (ii) Trade receivables 809 2,417 292 1,225 4,743 (iii) Cash and cash equivalents 1,134 1,474 1,033 798 4,439 (iv) Other bank balances 3,190 268 229 30 3,717 (v) Loans 727 1 1,316 - 2,044 (vi) Derivatives - 358 12 - 370 (vii) Others 7,063 1,377 213 3 8,656 (c) Income tax assets (net) - - - 6 6 (d) Other current assets 130 887 686 347 2,050 Total current assets 14,771 16,250 5,986 2,931 39,938 Total Assets 35,532 87,007 18,662 18,039 1,59,240 B LIABILITIES Non-current liabilities (a) Financial liabilities (i) Borrowings 2,537 26,214 1,161 7,068 36,980 (ii) Lease liabilities 94 70 580 32 776 (iii) Derivatives - - - - - (iv) Other financial liabilities 4 342 230 - 576 (b) Provisions 2,323 311 302 10 2,946 (c) Deferred tax liabilities (net) 3,088 5,564 82 34 8,768 (d) Other non-current liabilities - 3,222 35 29 3,286 Total non-current liabilities 8,046 35,723 2,390 7,173 53,332 Current liabilities (a) Financial liabilities (i) Borrowings 1,878 11,478 3,517 1,398 18,271 (ii) Lease liabilities 54 21 525 8 608 (iii) Operational buyers' credit / suppliers' credit 66 4,073 2,110 908 7,157 (iv) Trade payables 1,173 3,444 1,130 347 6,094 (v) Derivatives - 4,017 - - 4,017 (vi) Other financial liabilities 7,325 3,235 1,111 752 12,423 (b) Other current liabilities 326 2,416 884 27 3,653 (c) Provisions 72 194 339 2 607 (d) Income tax liabilities (net) 121 98 38 - 257 Total current liabilities 11,015 28,976 9,654 3,442 53,087 Total Liabilities 19,061 64,699 12,044 10,615 1,06,419 (B) Profit from Discontinued Operations: Oil and Gas Undertaking (Net of inter segment transactions) (Rs. in Crore) Particulars Quarter ended Half year ended Year ended 30.09.2026 (Unaudited) 30.06.2026 (Unaudited) 30.09.2025 (Unaudited) 30.09.2026 (Unaudited) 30.09.2025 (Unaudited) 31.03.2026 (Audited) Revenue from operations - 843 2,342 843 4,653 9,606 Total Income - 920 2,516 920 5,104 10,328 Total expenses - 563 2,383 563 5,022 8,999 Profit before exceptional items and tax - 357 133 357 82 1,329 Net exceptional (loss) - - - - - (26) Net tax expense/(benefit) - 156 246 156 209 572 Profit/(Loss) from discontinued operations - 201 (113) 201 (127) 731 Oil and Gas Undertaking (Gross of inter segment transactions) (Rs. in Crore) Particulars Quarter ended Half year ended Year ended 30.09.2026 (Unaudited) 30.06.2026 (Unaudited) 30.09.2025 (Unaudited) 30.09.2026 (Unaudited) 30.09.2025 (Unaudited) 31.03.2026 (Audited) Revenue from operations - 843 2,342 843 4,653 9,606 Total Income - 942 3,472 942 6,120 10,546 Total expenses - 790 2,432 790 5,068 9,111 Profit before exceptional items and tax - 152 1,040 152 1,052 1,435 Net exceptional (loss) - - - - - (26) Net tax expense/(benefit) - 156 246 156 209 572 (Loss)/Profit from discontinued operations - (4) 794 (4) 843 837 Aluminium undertaking (Net of inter segment transactions) (Rs. in Crore) Particulars Quarter ended Half year ended Year ended 30.09.2026 (Unaudited) 30.06.2026 (Unaudited) 30.09.2025 (Unaudited) 30.09.2026 (Unaudited) 30.09.2025 (Unaudited) 31.03.2026 (Audited) Revenue from operations - 6,395 15,921 6,395 30,557 66,810 Total Income - 6,438 16,045 6,438 30,886 67,700 Total expenses - 3,537 11,787 3,537 23,650 46,947 Profit before exceptional items and tax - 2,901 4,258 2,901 7,236 20,753 Net exceptional (loss) - - - - - (393) Net tax expense - 661 1,057 661 1,781 5,120 Profit from discontinued operations - 2,240 3,201 2,240 5,455 15,240 Aluminium undertaking (Gross of inter segment transactions) (Rs. in Crore) Particulars Quarter ended Half year ended Year ended 30.09.2026 (Unaudited) 30.06.2026 (Unaudited) 30.09.2025 (Unaudited) 30.09.2026 (Unaudited) 30.09.2025 (Unaudited) 31.03.2026 (Audited) Revenue from operations - 6,403 16,387 6,403 31,041 66,929 Total Income - 6,445 16,511 6,445 31,370 67,781 Total expenses - 3,558 12,475 3,558 24,466 47,555 Profit before exceptional items and tax - 2,887 4,036 2,887 6,904 20,226 Net exceptional (loss) - - - - - (393) Net tax expense - 661 1,057 661 1,781 5,120 Profit from discontinued operations - 2,226 2,979 2,226 5,123 14,713 Iron Ore & Steel Undertaking (Net of inter segment transactions) (Rs. in Crore) Particulars Quarter ended Half year ended Year ended 30.09.2026 (Unaudited) 30.06.2026 (Unaudited) 30.09.2025 (Unaudited) 30.09.2026 (Unaudited) 30.09.2025 (Unaudited) 31.03.2026 (Audited) Revenue from operations - 1,290 2,857 1,290 5,951 13,581 Total Income - 1,307 2,887 1,307 6,097 13,829 Total expenses - 1,131 3,178 1,131 6,322 13,668 Profit before exceptional items and tax - 176 (291) 176 (225) 161 Net exceptional (loss) - - - - - (1,493) Net tax expense - 39 12 39 69 761 Profit/(Loss) from discontinued operations - 137 (303) 137 (294) (2,093) Iron Ore & Steel Undertaking (Gross of inter segment transactions) (Rs. in Crore) Particulars Quarter ended Half year ended Year ended 30.09.2026 (Unaudited) 30.06.2026 (Unaudited) 30.09.2025 (Unaudited) 30.09.2026 (Unaudited) 30.09.2025 (Unaudited) 31.03.2026 (Audited) Revenue from operations - 1,291 3,355 1,291 6,450 13,586 Total Income - 1,350 3,544 1,350 6,881 14,353 Total expenses - 1,141 3,749 1,141 6,923 13,857 Profit before exceptional items and tax - 209 (205) 209 (42) 496 Net exceptional (loss) - - - - - (1,493) Net tax expense - 39 12 39 69 761 Profit/(Loss) from discontinued operations - 170 (217) 170 (111) (1,758) Power Undertaking (Net of inter segment transactions) (Rs. in Crore) Particulars Quarter ended Half year ended Year ended 30.09.2026 (Unaudited) 30.06.2026 (Unaudited) 30.09.2025 (Unaudited) 30.09.2026 (Unaudited) 30.09.2025 (Unaudited) 31.03.2026 (Audited) Revenue from operations - 783 2,012 783 4,041 8,760 Total Income - 786 2,016 786 4,049 8,782 Total expenses - 779 2,309 779 4,215 8,598 Profit before exceptional items and tax - 7 (293) 7 (166) 184 Net exceptional (loss) - - (2,067) - (2,067) (2,286) Net tax (benefit)/expense - (39) (583) (39) (562) (859) Profit/(Loss) from discontinued operations - 46 (1,777) 46 (1,671) (1,243) Power Undertaking (Gross of inter segment transactions) (Rs. in Crore) Particulars Quarter ended Half year ended Year ended 30.09.2026 (Unaudited) 30.06.2026 (Unaudited) 30.09.2025 (Unaudited) 30.09.2026 (Unaudited) 30.09.2025 (Unaudited) 31.03.2026 (Audited) Revenue from operations - 783 2,154 783 4,183 8,929 Total Income - 792 2,158 792 4,191 8,952 Total expenses - 788 2,341 788 4,262 8,713 Profit before exceptional items and tax - 4 (183) 4 (71) 239 Net exceptional (loss) - - (2,067) - (2,067) (2,286) Net tax (benefit)/expense - (39) (583) (39) (562) (859) Profit/(Loss) from discontinued operations - 43 (1,667) 43 (1,576) (1,188) 6 Additional disclosures of financial ratios: Particulars Half year ended Year ended 30.09.2026 (Unaudited)** 30.06.2026 (Unaudited)** 30.09.2025 (Unaudited) 30.09.2026 (Unaudited)** 30.09.2025 (Unaudited) 31.03.2026 (Audited) a) Debt-Equity Ratio (in times)* 1.15 1.42 1.54 1.15 1.54 1.19 b) Debt Service Coverage Ratio (in times)* 4.87 2.52 1.77 3.38 1.34 1.81 c) Interest Service Coverage Ratio (in times)* 12.79 12.59 4.99 12.39 4.89 6.24 d) Current Ratio (in times)* 1.38 1.10 0.95 1.38 0.95 1.06 e) Long term debt to working capital Ratio (in times)* 2.65 8.77 ** 2.65 ** 20.13 f) Bad debts to Account receivable Ratio (in times)* 0.03 0.00 0.00 0.04 0.00 0.06 g) Current liability Ratio (in times)* 0.43 0.45 0.38 0.43 0.38 0.38 h) Total debts to total assets Ratio (in times)* 0.34 0.34 0.39 0.34 0.39 0.35 i) Debtors Turnover Ratio (in times)* 24.09 16.34 7.04 46.22 14.19 26.68 j) Inventory Turnover Ratio (in times)* 2.64 2.55 1.70 5.17 3.49 8.11 k) Operating-Profit Margin (%)* 33% 30% 22% 31% 21% 26% l) Net-Profit Margin (%)* 24% 22% 13% 23% 12% 16% m) Capital Redemption Reserve (Rs. in Crore)* 3,125 3,110 3,110 3,125 3,110 3,110 n) Net Worth (Total Equity) (Rs. in Crore)* 26,302 19,867 54,213 26,302 54,213 68,577 * Not annualised, except for the year ended 31 March 2026. **The above ratios for the quarters ended 30 September 2026 and 30 June 2026 and half year ended 30 September 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 quarters ended 30 September 2026 and 30 June 2026 and half year ended 30 September 2026 are not directly comparable with those of the comparative periods. Formulae for computation of ratios are as follows: a) Debt-Equity Ratio Total Debt/ Total Equity b) Debt Service Coverage Ratio Income available for debt service/ (interest expense + repayments made during the period for long term loans), where income available for debt service = Profit before exceptional items and tax + Depreciation, depletion and amortization expense + Interest expense c) Interest Service Coverage Ratio Income available for debt service/ interest expense d) Current Ratio Current Assets/ Current Liabilities (excluding current maturities of long term borrowing) e) Long term debt to working capital Ratio Non-current borrowing (including current maturities of long term borrowing)/ Working capital (WC), where WC = Current Assets - Current Liabilities (excluding current maturities of long term borrowing) f) Bad debts to Account receivable Ratio Bad Debts written off/ Average Trade Receivables g) Current liability Ratio Current Liabilities (excluding current maturities of long term borrowing)/ Total Liabilities h) Total debts to total assets Ratio Total Debt/ Total Assets i) Debtors Turnover Ratio Total revenue from operations/ Average Trade Receivables j) Inventory Turnover Ratio (Total revenue from operations - EBITDA)/ Average Inventory k) Operating-Profit Margin (%) (EBITDA - Depreciation, depletion and amortization expense)/ Total revenue from operations l) Net-Profit Margin (%) Net profit after tax before exceptional items (net of tax)/ Total revenue from operations m) Capital Redemption Reserve includes Preference Share Redemption Reserve created on redemption of preference shares. 7 The Non-Convertible debentures ('NCDs') of the Group outstanding as on 30 September 2026 are Rs. 11,360 Crore, all of which are listed unsecured NCDs. 8 (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 Group remains compliant with contractual obligations and applicable laws and regulations. Accordingly, no adjustments were considered necessary in consolidated financial results of the Group. Information sought by regulators/authorities have been duly provided by the Group. In relation to one of the Subsidiary, Hindustan Zinc Limited, during the previous quarter, SEBI communicated its observations on related party transactions. These observations pertained to approvals and disclosure aspects and did not result in any financial penalty, restriction, or sanction on the Subsidiary. In accordance with SEBI’s directions, corrective measures have been taken and presented to the Audit & Risk Management Committee and the Board of Directors of the Subsidiary. The Committee and the Board of the Subsidiary have reviewed these measures and expressed satisfaction with the actions taken to address SEBI’s observations. (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 1 June 2026 to 3 June 2026. During the course of the proceedings, the ED sought information, records and documents of the Group. The Group extended full cooperation to the ED officials and provided the information and documentation sought by them. The Group has not received any further communication from ED in this regard. 9 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 5. During the half year ended 30 September 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 and half year ended 30 September 2026. 10 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: Mumbai Arun Misra Date: 28 October 2026 CEO & Executive Director (Whole-Time Director) |
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| Debt equity ratio | |
|---|---|
| Debt service coverage ratio | |
| Interest service coverage ratio |
| Particulars | Year ended (dd-mm-yyyy) | ||
|---|---|---|---|
| Date of start of reporting period | 01-04-2026 | ||
| Date of end of reporting period | 30-09-2026 | ||
| Whether results are audited or unaudited | Unaudited | ||
| Nature of report standalone or consolidated | Consolidated | ||
| Assets | |||
| 1 | Non-current assets | ||
| Property, plant and equipment | 30,31,600.00 | ||
| Capital work-in-progress | 12,54,000.00 | ||
| Investment property | 0.00 | ||
| Goodwill | 0.00 | ||
| Other intangible assets | 49,100.00 | ||
| Intangible assets under development | 36,700.00 | ||
| Biological assets other than bearer plants | 0.00 | ||
| Investments accounted for using equity method | 3,300.00 | ||
| Non-current financial assets | |||
| Non-current investments | 1,58,800.00 | ||
| Trade receivables, non-current | 0.00 | ||
| Loans, non-current | 86,800.00 | ||
| Other non-current financial assets | |||
| 1 | Derivatives | 23,200.00 | |
| 2 | Others | 85,200.00 | |
| Total of other non-current financial assets | 1,08,400.00 | ||
| Total non-current financial assets | 3,54,000.00 | ||
| Deferred tax assets (net) | 85,200.00 | ||
| Other non-current assets | |||
| 1 | Income tax assets (net) | 1,23,900.00 | |
| 2 | Other non-current assets | 1,94,500.00 | |
| Total of other non-current assets | 3,18,400.00 | ||
| Total non-current assets | 51,32,300.00 | ||
| 2 | Current assets | ||
| Inventories | 7,03,500.00 | ||
| Current financial asset | |||
| Current investments | 16,21,000.00 | ||
| Trade receivables, current | 88,300.00 | ||
| Cash and cash equivalents | 3,71,900.00 | ||
| Bank balance other than cash and cash equivalents | 6,61,100.00 | ||
| Loans, current | 3,500.00 | ||
| Other current financial assets | |||
| Total of other current financial assets | 62,700.00 | ||
| Total current financial assets | 28,08,500.00 | ||
| Current tax assets (net) | 5,100.00 | ||
| Other current assets | |||
| 1 | Other current assets | 1,95,100.00 | |
| Total of other current assets | 1,95,100.00 | ||
| Total current assets | 37,12,200.00 | ||
| 3 | Non-current assets classified as held for sale | ||
| 4 | Regulatory deferral account debit balances and related deferred tax Assets | ||
| Total assets | 88,44,500.00 | ||
| Equity and liabilities | |||
| 1 | Equity | ||
| Equity attributable to owners of parent | |||
| Equity share capital | 39,100.00 | ||
| Other equity | 12,37,000.00 | ||
| Total equity attributable to owners of parent | 12,76,100.00 | ||
| Non controlling interest | 13,54,100.00 | ||
| Total equity | 26,30,200.00 | ||
| 2 | Liabilities | ||
| Non-current liabilities | |||
| Non-current financial liabilities | |||
| Borrowings, non-current | 22,28,000.00 | ||
| Trade payables, non-current | |||
| (A) Total outstanding dues of micro enterprises and small enterprises | 0.00 | ||
| (B) Total outstanding dues of creditors other than micro enterprises and small enterprises | 0.00 | ||
| Total Trade payable | 0.00 | ||
| Other non-current financial liabilities | |||
| 1 | Lease liabilities | 33,100.00 | |
| 2 | Derivatives | 3,300.00 | |
| 3 | Other financial liabilities | 66,300.00 | |
| Total of other non-current financial liabilities | 1,02,700.00 | ||
| Total non-current financial liabilities | 23,30,700.00 | ||
| Provisions, non-current | 78,200.00 | ||
| Deferred tax liabilities (net) | 5,13,900.00 | ||
| Deferred government grants, Non-current | |||
| Other non-current liabilities | |||
| 1 | Other non-current liabilities | 1,14,400.00 | |
| Total of other non-current liabilities | 1,14,400.00 | ||
| Total non-current liabilities | 30,37,200.00 | ||
| Current liabilities | |||
| Current financial liabilities | |||
| Borrowings, current | 8,01,700.00 | ||
| Trade payables, current | |||
| (A) Total outstanding dues of micro enterprises and small enterprises | 8,18,500.00 | ||
| (B) Total outstanding dues of creditors other than micro enterprises and small enterprises | 0.00 | ||
| Total Trade payable | 8,18,500.00 | ||
| Other current financial liabilities | |||
| 1 | Lease liabilities | 48,500.00 | |
| 2 | Operational buyers' credit / suppliers' credit | 4,16,400.00 | |
| 3 | Derivatives | 67,800.00 | |
| 4 | Other financial liabilities | 4,49,000.00 | |
| Total of other current financial liabilities | 9,81,700.00 | ||
| Total current financial liabilities | 26,01,900.00 | ||
| Other current liabilities | 3,68,900.00 | ||
| 1 | Other current liabilities | 3,68,900.00 | |
| Total of other current liabilities | 3,68,900.00 | ||
| Provisions, current | 4,200.00 | ||
| Current tax liabilities (Net) | 2,02,100.00 | ||
| Deferred government grants, Current | |||
| Total current liabilities | 31,77,100.00 | ||
| 3 | Liabilities directly associated with assets in disposal group classified as held for sale | ||
| 4 | Regulatory deferral account credit balances and related deferred tax liability | ||
| Total liabilities | 62,14,300.00 | ||
| Total equity and liabilites | 88,44,500.00 | ||
| Disclosure of notes on assets and liabilities | Textual Information(1) | ||
| Textual Information(1) | Refer quick notes for results. |
|---|
| Particulars | 3 months/ 6 month ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |||||
|---|---|---|---|---|---|---|---|
| Date of start of reporting period | 01-07-2026 | 01-04-2026 | |||||
| Date of end of reporting period | 30-09-2026 | 30-09-2026 | |||||
| Whether results are audited or unaudited | Unaudited | Unaudited | |||||
| Nature of report standalone or consolidated | Consolidated | Consolidated | |||||
| 1 | Segment Revenue (Income) | ||||||
| (net sale/income from each segment should be disclosed) | |||||||
| 1 | Zinc, lead and silver | 14,52,500.00 | 27,51,000.00 | ||||
| 2 | Zinc - international | 1,73,000.00 | 3,12,200.00 | ||||
| 3 | Aluminium | 0.00 | 6,30,900.00 | ||||
| 4 | Copper | 9,28,000.00 | 17,81,800.00 | ||||
| 5 | Iron Ore | 0.00 | 59,800.00 | ||||
| 6 | Power | 0.00 | 77,900.00 | ||||
| 7 | Oil & Gas | 0.00 | 84,200.00 | ||||
| 8 | Others | 1,25,400.00 | 3,40,700.00 | ||||
| Total Segment Revenue | 26,78,900.00 | 60,38,500.00 | |||||
| Less: Inter segment revenue | 43,300.00 | 51,300.00 | |||||
| Revenue from operations | 26,35,600.00 | 59,87,200.00 | |||||
| 2 | Segment Result | ||||||
| Profit (+) / Loss (-) before tax and interest from each segment | |||||||
| 1 | Zinc, lead and silver | 8,27,600.00 | 15,44,700.00 | ||||
| 2 | Zinc - international | 23,100.00 | 29,900.00 | ||||
| 3 | Aluminium | 0.00 | 3,17,400.00 | ||||
| 4 | Copper | 6,400.00 | 5,900.00 | ||||
| 5 | Iron Ore | 0.00 | 12,200.00 | ||||
| 6 | Power | 0.00 | 11,200.00 | ||||
| 7 | Oil & Gas | 0.00 | 39,900.00 | ||||
| 8 | Others | 2,800.00 | 15,500.00 | ||||
| Total Profit before tax | 8,59,900.00 | 19,76,700.00 | |||||
| i. Finance cost | 69,600.00 | 1,88,600.00 | |||||
| ii. Other Unallocable Expenditure net off Unallocable income | (48,700.00) | (1,13,900.00) | |||||
| Profit before tax | 8,39,000.00 | 19,02,000.00 | |||||
| 3 | (Segment Asset - Segment Liabilities) | ||||||
| Segment Asset | |||||||
| 1 | Zinc, lead and silver | 28,81,100.00 | 28,81,100.00 | ||||
| 2 | Zinc - international | 15,53,500.00 | 15,53,500.00 | ||||
| 3 | Aluminium | 0.00 | 0.00 | ||||
| 4 | Copper | 6,45,900.00 | 6,45,900.00 | ||||
| 5 | Iron Ore | 0.00 | 0.00 | ||||
| 6 | Power | 0.00 | 0.00 | ||||
| 7 | Oil & Gas | 0.00 | 0.00 | ||||
| 8 | Others | 4,13,700.00 | 4,13,700.00 | ||||
| Total Segment Asset | 54,94,200.00 | 54,94,200.00 | |||||
| Un-allocable Assets | 33,50,300.00 | 33,50,300.00 | |||||
| Net Segment Asset | 88,44,500.00 | 88,44,500.00 | |||||
| 4 | Segment Liabilities | ||||||
| Segment Liabilities | |||||||
| 1 | Zinc, lead and silver | 7,93,900.00 | 7,93,900.00 | ||||
| 2 | Zinc - international | 4,44,700.00 | 4,44,700.00 | ||||
| 3 | Aluminium | 0.00 | 0.00 | ||||
| 4 | Copper | 9,16,400.00 | 9,16,400.00 | ||||
| 5 | Iron Ore | 0.00 | 0.00 | ||||
| 6 | Power | 0.00 | 0.00 | ||||
| 7 | Oil & Gas | 0.00 | 0.00 | ||||
| 8 | Others | 1,95,800.00 | 1,95,800.00 | ||||
| Total Segment Liabilities | 23,50,800.00 | 23,50,800.00 | |||||
| Un-allocable Liabilities | 38,63,500.00 | 38,63,500.00 | |||||
| Net Segment Liabilities | 62,14,300.00 | 62,14,300.00 | |||||
| Disclosure of notes on segments | Textual Information(2) | ||||||
| Textual Information(2) | Additional Notes: 1. We have considered Earnings before interest and tax (EBIT) for segment results. 2. Other unallocable income, net of expenses, other unallocable income, net of expenses, share in profit/ loss of jointly controlled entities and net exceptional (loss)/gain are clubbed together and shown under the head Other unallocable expenditure net off other unallocable income. 3. Others in Segment Revenue (Income) includes Other operating income of Rs. 544 Crore for the quarter ended 30 September 2026 and Rs. 1,405 Crore for the half year ended 30 September 2026. i) Earnings before interest, depreciation, tax and exceptional items ('EBITDA') is a non- GAAP measure. ii) Includes cost of exploration wells written off in Oil & Gas segment of Nil, Rs. 8 Crore, Rs. 187 Crore, Rs. 8 Crore ,Rs. 944 Crore and Rs. 1,252 Crore for the quarters ended 30 September 2026, 30 June 2026, 30 September 2025, half year ended 30 September 2026, 30 September 2025, and year ended 31 March 2026, respectively and amortisation of duty benefits relating to assets recognised as government grant. The continuing business segments are: (a) Zinc, Lead and Silver - India, which consists of mining of ore, manufacturing of zinc and lead ingots and silver, both from own mining and purchased concentrate. Additional intra segment information of revenues for the Zinc & Lead and Silver segment have been provided to enhance understanding of segment business; (b) Zinc - International, which consists of exploration, mining, treatment and production of zinc, lead, copper and associated mineral concentrates for sale; (c) Copper, which consist of mining of copper concentrate, manufacturing of copper cathode, continuous cast copper rod, anode slime from purchased concentrate and blister, and manufacturing of precious metal from anode slime, sulphuric acid and phosphoric acid; and (d) Other business segment under continuing operations comprises port/berth, glass substrate, nickel, power cables, ferroy alloys and wind power plants and a power plant situated at Mettur Dam in the State of Tamil Nadu in southern India but excluding captive power. The discontinued business segments are: (e) Oil & Gas, which consists of exploration, development and production of oil and gas; (f) Aluminium, which consist of mining of bauxite and manufacturing of alumina and various aluminium products; (g) Iron ore, which consists of mining of ore and manufacturing of pig iron and metallurgical coke; (h) Power, includes thermal power facilities predominantly engaged in generation and sale of commercial power but excluding captive power ; and (i) Other business segment under discontinued operations comprises steel and cement. Assets and liabilities, the allocation of which are not directly related to a reportable segment are being disclosed as unallocated assets and liabilities. |
|---|
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-07-2026 | 01-04-2026 |
| B | Date of end of reporting period | 30-09-2026 | 30-09-2026 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Consolidated | Consolidated |
| Other comprehensive income [Abstract] | |||
| 1 | Amount of items that will not be reclassified to profit and loss | ||
| 1 | Items that will not be reclassified to profit or loss | 14,100.00 | 34,800.00 |
| Total Amount of items that will not be reclassified to profit and loss | 14,100.00 | 34,800.00 | |
| 2 | Income tax relating to items that will not be reclassified to profit or loss | 600.00 | 600.00 |
| 3 | Amount of items that will be reclassified to profit and loss | ||
| 1 | Items that will be reclassified to profit or loss | (6,400.00) | 95,500.00 |
| Total Amount of items that will be reclassified to profit and loss | (6,400.00) | 95,500.00 | |
| 4 | Income tax relating to items that will be reclassified to profit or loss | (3,300.00) | 6,400.00 |
| 5 | Total Other comprehensive income | 10,400.00 | 1,23,300.00 |
| Particulars | Year ended (dd-mm-yyyy) | |||||
|---|---|---|---|---|---|---|
| A | Date of start of reporting period | 01-04-2026 | ||||
| B | Date of end of reporting period | 30-09-2026 | ||||
| C | Whether results are audited or unaudited | Unaudited | ||||
| D | Nature of report standalone or consolidated | Consolidated | ||||
| Statement of cash flows | ||||||
| Cash flows from used in operating activities | ||||||
| Profit before tax | 15,57,900.00 | |||||
| Adjustments for reconcile profit (loss) | ||||||
| Adjustments for finance costs | 1,88,600.00 | |||||
| Adjustments for decrease (increase) in inventories | (2,30,300.00) | |||||
| Adjustments for decrease (increase) in trade receivables, current | (40,400.00) | |||||
| Adjustments for decrease (increase) in trade receivables, non-current | (1,92,500.00) | |||||
| Adjustments for decrease (increase) in other current assets | 0.00 | |||||
| Adjustments for decrease (increase) in other non-current assets | 0.00 | |||||
| Adjustments for other financial assets, non-current | 0.00 | |||||
| Adjustments for other financial assets, current | 0.00 | |||||
| Adjustments for other bank balances | 0.00 | |||||
| Adjustments for increase (decrease) in trade payables, current | 0.00 | |||||
| Adjustments for increase (decrease) in trade payables, non-current | 0.00 | |||||
| Adjustments for increase (decrease) in other current liabilities | 0.00 | |||||
| Adjustments for increase (decrease) in other non-current liabilities | 0.00 | |||||
| Adjustments for depreciation and amortisation expense | 2,53,100.00 | |||||
| Adjustments for impairment loss reversal of impairment loss recognised in profit or loss | 0.00 | |||||
| Adjustments for provisions, current | (1,200.00) | |||||
| Adjustments for provisions, non-current | 0.00 | |||||
| Adjustments for other financial liabilities, current | 0.00 | |||||
| Adjustments for other financial liabilities, non-current | 0.00 | |||||
| Adjustments for unrealised foreign exchange losses gains | (13,200.00) | |||||
| Adjustments for dividend income | 0.00 | |||||
| Adjustments for interest income | 71,200.00 | |||||
| Adjustments for share-based payments | 700.00 | |||||
| Adjustments for fair value losses (gains) | (11,500.00) | |||||
| Adjustments for undistributed profits of associates | 0.00 | |||||
| Other adjustments for which cash effects are investing or financing cash flow | 0.00 | |||||
| Other adjustments to reconcile profit (loss) | 3,44,100.00 | |||||
| Other adjustments for non-cash items | (4,000.00) | |||||
| Share of profit and loss from partnership firm or association of persons or limited liability partnerships | 0.00 | |||||
| Total adjustments for reconcile profit (loss) | 2,22,200.00 | |||||
| Net cash flows from (used in) operations | 17,80,100.00 | |||||
| Dividends received | 0.00 | |||||
| Interest paid | 0.00 | |||||
| Interest received | 0.00 | |||||
| Income taxes paid (refund) | 3,75,500.00 | |||||
| Other inflows (outflows) of cash | 0.00 | |||||
| Net cash flows from (used in) operating activities | 14,04,600.00 | |||||
| Cash flows from used in investing activities | ||||||
| Cash flows from losing control of subsidiaries or other businesses | 0.00 | |||||
| Cash flows used in obtaining control of subsidiaries or other businesses | 0.00 | |||||
| Other cash receipts from sales of equity or debt instruments of other entities | 0.00 | |||||
| Other cash payments to acquire equity or debt instruments of other entities | 0.00 | |||||
| Other cash receipts from sales of interests in joint ventures | 0.00 | |||||
| Other cash payments to acquire interests in joint ventures | 0.00 | |||||
| Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships | 0.00 | |||||
| Cash payment for investment in partnership firm or association of persons or limited liability partnerships | 0.00 | |||||
| Proceeds from sales of property, plant and equipment | 600.00 | |||||
| Purchase of property, plant and equipment | 6,19,700.00 | |||||
| Proceeds from sales of investment property | 0.00 | |||||
| Purchase of investment property | 0.00 | |||||
| Proceeds from sales of intangible assets | 0.00 | |||||
| Purchase of intangible assets | 0.00 | |||||
| Proceeds from sales of intangible assets under development | 0.00 | |||||
| Purchase of intangible assets under development | 0.00 | |||||
| Proceeds from sales of goodwill | 0.00 | |||||
| Purchase of goodwill | 0.00 | |||||
| Proceeds from biological assets other than bearer plants | 0.00 | |||||
| Purchase of biological assets other than bearer plants | 0.00 | |||||
| Proceeds from government grants | 0.00 | |||||
| Proceeds from sales of other long-term assets | 0.00 | |||||
| Purchase of other long-term assets | 0.00 | |||||
| Cash advances and loans made to other parties | 0.00 | |||||
| Cash receipts from repayment of advances and loans made to other parties | 2,43,600.00 | |||||
| Cash payments for future contracts, forward contracts, option contracts and swap contracts | 0.00 | |||||
| Cash receipts from future contracts, forward contracts, option contracts and swap contracts | 0.00 | |||||
| Dividends received | 0.00 | |||||
| Interest received | 1,18,600.00 | |||||
| Income taxes paid (refund) | 0.00 | |||||
| Other inflows (outflows) of cash | (7,65,100.00) | |||||
| Net cash flows from (used in) investing activities | (10,22,000.00) | |||||
| Cash flows from used in financing activities | ||||||
| Proceeds from changes in ownership interests in subsidiaries | 0.00 | |||||
| Payments from changes in ownership interests in subsidiaries | 0.00 | |||||
| Proceeds from issuing shares | 0.00 | |||||
| Proceeds from issuing other equity instruments | 0.00 | |||||
| Payments to acquire or redeem entity's shares | 0.00 | |||||
| Payments of other equity instruments | 0.00 | |||||
| Proceeds from exercise of stock options | 0.00 | |||||
| Proceeds from issuing debentures notes bonds etc | 0.00 | |||||
| Proceeds from borrowings | 22,41,100.00 | |||||
| Repayments of borrowings | 14,70,200.00 | |||||
| Payments of lease liabilities | 15,000.00 | |||||
| Dividends paid | 0.00 | |||||
| Interest paid | 2,11,000.00 | |||||
| Income taxes paid (refund) | 0.00 | |||||
| Other inflows (outflows) of cash | (1,82,600.00) | |||||
| Net cash flows from (used in) financing activities | 3,62,300.00 | |||||
| Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes | 7,44,900.00 | |||||
| Effect of exchange rate changes on cash and cash equivalents | ||||||
| Effect of exchange rate changes on cash and cash equivalents | 4,600.00 | |||||
| Net increase (decrease) in cash and cash equivalents | 7,49,500.00 | |||||
| Cash and cash equivalents cash flow statement at beginning of period | (3,77,600.00) | |||||
| Cash and cash equivalents cash flow statement at end of period | 3,71,900.00 | |||||
| Whether results are audited or unaudited | Unaudited |
|---|---|
| Declaration of unmodified opinion or statement on impact of audit qualification | Declaration of unmodified opinion |
| Auditor's opinion | |
| Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results | Yes |
| Sr No. | Audit firm's name | Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI | Certificate valid upto | ||
| 1 | M S K A & Associates LLP | Yes | 31-07-2027 | ||
|---|---|---|---|---|---|