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Vedanta Oil and Gas Limited

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2026-04-01

2027-03-31

2026-10-29

2026-10-22

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2026-10-29

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Notes:- 1 The above consolidated results of Vedanta Oil and Gas Limited (formerly known as MALCO Energy Limited) ("the Company") and its subsidiary ("the Group") for the quarter and half year ended 30 September 2026 have been reviewed by the Audit and Risk Management Committee in its meeting held on 28 October 2026 and approved by the Board of Directors in its meeting held on 29 October 2026. The statutory auditors have carried out a limited review of these results and issued an unmodified conclusion. 2 These consolidated financial results have been prepared in accordance with the Indian Accounting Standards ("Ind AS") prescribed under Section 133 of the Companies Act, 2013, read with the Companies (Indian Accounting Standards) Rules, 2015, as amended, and in compliance with Regulations 33 and 52 of the Listing Regulations. 3 "The Hon'ble National Company Law Tribunal, Mumbai Bench, vide its Order dated 16 December 2025, approved the Scheme of Arrangement inter-alia amongst Vedanta Limited, the Group and 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 the Oil and Gas Undertaking of Vedanta Limited (""Demerged Undertaking"") into the Group on a going concern basis. The Scheme became effective on 1 May 2026 (""effective date""), which is also the Appointed Date of the Scheme. Consequent to the scheme becoming effective, the Demerged Undertaking was transferred to and vested in the Group and has been accounted for in accordance with the accounting treatment prescribed under the Scheme and the applicable provisions of Ind AS. Pursuant to the Scheme, the Group approved allotment of 391,03,88,057 equity shares of face value of Rs.1 each to the eligible shareholders of Vedanta Limited in accordance with the Share Entitlement Ratio on 4 May 2026, and the Group ceased to be a subsidiary of Vedanta Limited. In accordance with the accounting treatment prescribed under the Scheme and the applicable provisions of Ind AS, the comparative financial results and other financial information of the Group for the quarter and half year ended 30 September 2025 and year ended 31 March 2026 include unaudited interim financial results and other financial information of Oil and Gas Undertaking transferred to the Group pursuant to the Scheme of demerger as extracted from the books of account underlying the financial results of Vedanta Limited (""Demerged company"") for those respective periods, which were subjected to limited review / audit by the auditors of Vedanta Limited to give impact of Scheme." 4 Brief particulars of the discontinued operations are given as under: (Rs. in crores) Particulars Quarter ended Half year ended Year ended "30.09.2026 (Unaudited)" "30.06.2026 (Unaudited) (Refer note 3)" "30.09.2025 (Unaudited) (Refer note 3)" "30.09.2026 (Unaudited)" "30.09.2025 (Unaudited) (Refer note 3)" "31.03.2026 (Audited) (Refer note 3)" Total income - 326 2,164 326 4,117 9,126 Total expenses - 285 2,248 285 4,291 9,503 Profit/(loss) before exceptional items and tax - 41 (84) 41 (174) (377) Net exceptional gain - 1,056 - 1,056 - - Net tax (benefit) - - - - (1) - Profit/(loss) from discontinued operations - 1,097 (84) 1,097 (173) (377) 5 Details of cash flow attributable to discontinued operations : Half year ended Half year ended Particulars "30.09.2026 (Unaudited)" "30.09.2025 (Unaudited) (Refer note 3)" Cash flow (used in) operating activities (41) (62) Cash flow (used in)/ generated from investing activities (86) 2 Cash flow (used in)/ generated from financing activities (152) 140 ) 6 "The Group's Production Sharing Contract (PSC) for the Cambay Block (CB-OS/2) expired on 29th June 2023. Prior to expiry, the Group and its joint venture partners had applied for extension of the PSC on 28th June 2021 under the Government of India's 2017 Extension Policy. Subsequently, the Ministry of Petroleum and Natural Gas (MoPNG), vide its letter dated 19th September 2025, declined the Group's application for extension of the PSC and directed handover of operations of the block to ONGC. The Group challenged the said decision before the Hon'ble Delhi High Court through a writ petition. During the proceedings, interim relief was granted on 06th June 2026, and status quo was directed to be maintained. However, vide order dated 22nd July 2026, the Single Judge Bench of the Hon'ble Delhi High Court dismissed the writ petition and the stay order came to be vacated. The Group has not recognised any revenue or related expenses for Cambay block from the date of order. In the interim, subsequent to decision of Single Bench of Delhi High Court, ONGC has taken over the Block. The Group has filed an appeal against the said dismissal before the Division bench of the Delhi High Court. The hearings have concluded on 1st October and the the matter is reserved for judgement. Considering the recent judicial developments, the absence of a valid PSC and the resulting uncertainty regarding recoverability of assets and receivables relating to the block, the Group reassessed the carrying value of the related balances. Accordingly, the Group has recognised an impairment charge of approximately Rs. 379 Crore during Q1FY27. The matter remains subject to further legal remedies and regulatory developments. Management has recognised the impairment charge based on facts and circumstances and the best information available as at the reporting date. The ultimate outcome of the litigation and its consequential impact, if any, cannot presently be determined." 7 Earnings per share (basic and diluted) has been computed after giving effect to the equity shares issued pursuant to the Scheme, as if such shares had been issued at the beginning of the earliest period presented (refer note 3 above). 8 The Group is primarily engaged in the business of Oil & Gas and operates in a single reportable segment. Accordingly, the Group has only one operating segment in terms of Ind AS 108 – Operating Segments and no separate segment information is required to be disclosed. By Order of the Board Place: Barmer Jim Johnny Gast Date: 29 October 2026 Whole-Time Director *"Other inflow/(outflow) of cash" in the XBRL Cash Flow Statement (Financing activity) represents adjustments arising pursuant to the Demerger Scheme. (Please refer Note 3 above).

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Notes:- 1 The above consolidated results of Vedanta Oil and Gas Limited (formerly known as MALCO Energy Limited) ("the Company") and its subsidiary ("the Group") for the quarter and half year ended 30 September 2026 have been reviewed by the Audit and Risk Management Committee in its meeting held on 28 October 2026 and approved by the Board of Directors in its meeting held on 29 October 2026. The statutory auditors have carried out a limited review of these results and issued an unmodified conclusion. 2 These consolidated financial results have been prepared in accordance with the Indian Accounting Standards ("Ind AS") prescribed under Section 133 of the Companies Act, 2013, read with the Companies (Indian Accounting Standards) Rules, 2015, as amended, and in compliance with Regulations 33 and 52 of the Listing Regulations. 3 "The Hon'ble National Company Law Tribunal, Mumbai Bench, vide its Order dated 16 December 2025, approved the Scheme of Arrangement inter-alia amongst Vedanta Limited, the Group and 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 the Oil and Gas Undertaking of Vedanta Limited (""Demerged Undertaking"") into the Group on a going concern basis. The Scheme became effective on 1 May 2026 (""effective date""), which is also the Appointed Date of the Scheme. Consequent to the scheme becoming effective, the Demerged Undertaking was transferred to and vested in the Group and has been accounted for in accordance with the accounting treatment prescribed under the Scheme and the applicable provisions of Ind AS. Pursuant to the Scheme, the Group approved allotment of 391,03,88,057 equity shares of face value of Rs.1 each to the eligible shareholders of Vedanta Limited in accordance with the Share Entitlement Ratio on 4 May 2026, and the Group ceased to be a subsidiary of Vedanta Limited. In accordance with the accounting treatment prescribed under the Scheme and the applicable provisions of Ind AS, the comparative financial results and other financial information of the Group for the quarter and half year ended 30 September 2025 and year ended 31 March 2026 include unaudited interim financial results and other financial information of Oil and Gas Undertaking transferred to the Group pursuant to the Scheme of demerger as extracted from the books of account underlying the financial results of Vedanta Limited (""Demerged company"") for those respective periods, which were subjected to limited review / audit by the auditors of Vedanta Limited to give impact of Scheme." 4 Brief particulars of the discontinued operations are given as under: (Rs. in crores) Particulars Quarter ended Half year ended Year ended "30.09.2026 (Unaudited)" "30.06.2026 (Unaudited) (Refer note 3)" "30.09.2025 (Unaudited) (Refer note 3)" "30.09.2026 (Unaudited)" "30.09.2025 (Unaudited) (Refer note 3)" "31.03.2026 (Audited) (Refer note 3)" Total income - 326 2,164 326 4,117 9,126 Total expenses - 285 2,248 285 4,291 9,503 Profit/(loss) before exceptional items and tax - 41 (84) 41 (174) (377) Net exceptional gain - 1,056 - 1,056 - - Net tax (benefit) - - - - (1) - Profit/(loss) from discontinued operations - 1,097 (84) 1,097 (173) (377) 5 Details of cash flow attributable to discontinued operations : Half year ended Half year ended Particulars "30.09.2026 (Unaudited)" "30.09.2025 (Unaudited) (Refer note 3)" Cash flow (used in) operating activities (41) (62) Cash flow (used in)/ generated from investing activities (86) 2 Cash flow (used in)/ generated from financing activities (152) 140 ) 6 "The Group's Production Sharing Contract (PSC) for the Cambay Block (CB-OS/2) expired on 29th June 2023. Prior to expiry, the Group and its joint venture partners had applied for extension of the PSC on 28th June 2021 under the Government of India's 2017 Extension Policy. Subsequently, the Ministry of Petroleum and Natural Gas (MoPNG), vide its letter dated 19th September 2025, declined the Group's application for extension of the PSC and directed handover of operations of the block to ONGC. The Group challenged the said decision before the Hon'ble Delhi High Court through a writ petition. During the proceedings, interim relief was granted on 06th June 2026, and status quo was directed to be maintained. However, vide order dated 22nd July 2026, the Single Judge Bench of the Hon'ble Delhi High Court dismissed the writ petition and the stay order came to be vacated. The Group has not recognised any revenue or related expenses for Cambay block from the date of order. In the interim, subsequent to decision of Single Bench of Delhi High Court, ONGC has taken over the Block. The Group has filed an appeal against the said dismissal before the Division bench of the Delhi High Court. The hearings have concluded on 1st October and the the matter is reserved for judgement. Considering the recent judicial developments, the absence of a valid PSC and the resulting uncertainty regarding recoverability of assets and receivables relating to the block, the Group reassessed the carrying value of the related balances. Accordingly, the Group has recognised an impairment charge of approximately Rs. 379 Crore during Q1FY27. The matter remains subject to further legal remedies and regulatory developments. Management has recognised the impairment charge based on facts and circumstances and the best information available as at the reporting date. The ultimate outcome of the litigation and its consequential impact, if any, cannot presently be determined." 7 Earnings per share (basic and diluted) has been computed after giving effect to the equity shares issued pursuant to the Scheme, as if such shares had been issued at the beginning of the earliest period presented (refer note 3 above). 8 The Group is primarily engaged in the business of Oil & Gas and operates in a single reportable segment. Accordingly, the Group has only one operating segment in terms of Ind AS 108 – Operating Segments and no separate segment information is required to be disclosed. By Order of the Board Place: Barmer Jim Johnny Gast Date: 29 October 2026 Whole-Time Director *"Other inflow/(outflow) of cash" in the XBRL Cash Flow Statement (Financing activity) represents adjustments arising pursuant to the Demerger Scheme. (Please refer Note 3 above).

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