Key Financial Figures - Consolidated (₹ in Crore)

Quarterly Performance (Q2 FY27 vs Q2 FY26):

  • Revenue from operations: ₹22,324 vs ₹15,670 (42.5% increase)
  • Total income: ₹22,671 vs ₹16,080 (41.0% increase)
  • Profit before tax: ₹8,832 vs ₹4,033 (119.0% increase)
  • Profit after tax: ₹5,629 vs ₹2,373 (137.2% increase)
  • EPS (basic and diluted): ₹13.21 vs ₹6.07 (117.6% increase)

Half-Yearly Performance (H1 FY27 vs H1 FY26):

  • Revenue from operations: ₹43,717 vs ₹30,597 (42.9% increase)
  • Total income: ₹44,373 vs ₹30,942 (43.4% increase)
  • Profit before tax: ₹17,094 vs ₹6,926 (146.8% increase)
  • Profit after tax: ₹10,796 vs ₹4,154 (159.9% increase)
  • EPS (basic and diluted): ₹27.61 vs ₹10.62 (160.0% increase)

Balance Sheet Position (as of September 30, 2026):

  • Total assets: ₹89,741 crore
  • Total equity: ₹33,656 crore
  • Paid-up equity share capital: ₹391 crore
  • Other equity: ₹22,665 crore
  • Non-current borrowings: ₹27,039 crore
  • Current borrowings: ₹5,721 crore

Key Financial Figures - Standalone (₹ in Crore)

Quarterly Performance (Q2 FY27 vs Q2 FY26):

  • Revenue from operations: ₹16,081 vs ₹12,001 (34.0% increase)
  • Profit after tax: ₹4,106 vs ₹1,693 (142.5% increase)
  • EPS (basic and diluted): ₹10.50 vs ₹4.33 (142.5% increase)

Half-Yearly Performance (H1 FY27 vs H1 FY26):

  • Revenue from operations: ₹31,773 vs ₹22,912 (38.7% increase)
  • Profit after tax: ₹8,747 vs ₹3,083 (183.8% increase)
  • EPS (basic and diluted): ₹22.37 vs ₹7.88 (184.0% increase)

Exceptional Items

The Company recognized exceptional items of ₹485 crore during the quarter, comprising:

  • ₹400 crore additional provision for bauxite supplied by Odisha Mining Corporation Limited under Long-Term Linkage arrangement
  • ₹85 crore for estimated stamp duty and other charges payable for transfer of land and mining rights acquired under the demerger scheme

After tax benefits of ₹122 crore (₹101 crore current tax and ₹21 crore deferred tax), the net exceptional impact was ₹363 crore.

Dividend Declaration

The total dividend declared for FY 2026-27 stands at ₹8 per equity share of face value ₹1 each.

Demerger Completion

The Hon'ble National Company Law Tribunal, Mumbai Bench approved the Scheme of Arrangement on December 16, 2025, which became effective on May 1, 2026 (Appointed Date). Pursuant to the Scheme:

  • The Aluminium Division of Vedanta Limited was demerged into Vedanta Aluminium Metal Limited
  • The Company allotted 391,03,88,057 equity shares of face value ₹1 each to eligible shareholders of Vedanta Limited
  • The Company ceased to be a subsidiary of Vedanta Limited
  • The Company is in process of obtaining regulatory approvals for transfer/change of name of certain mining and other assets

Subsidiary Acquisition

The Company acquired 51% equity stake in Bharat Aluminium Company Limited (BALCO) from Vedanta Limited for ₹22,180 crore consideration through issuance of 22,18,00,000 Compulsorily Convertible Debentures on April 30, 2026. BALCO became a subsidiary effective April 30, 2026.

Legal Dispute with OMC

The Company has an ongoing dispute with Odisha Mining Corporation Limited regarding pricing of bauxite supplied under Long-Term Linkage arrangement. The Hon'ble High Court of Odisha dismissed the Company's writ petition on October 1, 2026, and vacated the interim stay. OMC issued a consequential demand dated October 3, 2026 for ₹3,539 crore plus interest and GST. The Company has challenged the judgment before the Supreme Court of India and sought a stay on the demand.

Financial Ratios (Consolidated)

  • Debt-Equity Ratio: 0.97 times (vs 2.23 times in H1 FY26)
  • Current Ratio: 1.49 times (vs 0.89 times in H1 FY26)
  • Operating Profit Margin: 42% (vs 31% in Q2 FY26)
  • Net Profit Margin: 29% (vs 19% in Q2 FY26)
  • EBITDA: ₹20,691 crore for H1 FY27

Auditor Information

M/s S R B C & CO LLP, Chartered Accountants (ICAI Firm registration number: 324982E/E300003) conducted the limited review under Partner Vikas Pansari (Membership No.: 093649).