Financial Performance Highlights (Consolidated)
Revenue: Total revenue from operations stood at ₹2,607 crore for Q1 FY27 (Q4 FY26: ₹2,684 crore, Q1 FY26: ₹1,986 crore)
- Revenue: ₹2,595 crore
- Other operating income: ₹12 crore
Other Income: ₹9 crore
Total Income: ₹2,616 crore
Expenses: Total expenses were ₹2,737 crore
- Power and fuel charges: ₹2,063 crore
- Employee benefits expense: ₹22 crore
- Finance costs: ₹196 crore
- Depreciation and amortization: ₹225 crore
- Other expenses: ₹231 crore
Profit/(Loss) before exceptional items and tax: Loss of ₹121 crore (Q4 FY26: Profit of ₹195 crore, Q1 FY26: Profit of ₹102 crore)
Exceptional Items: Net exceptional loss of ₹487 crore (Q4 FY26: Loss of ₹45 crore)
Profit/(Loss) before tax: Loss of ₹608 crore
Tax: Net tax benefit of ₹185 crore
- Deferred tax benefit on normal operations: ₹62 crore
- Deferred tax benefit on exceptional items: ₹123 crore
Net Loss after tax: ₹423 crore (Q4 FY26: Profit of ₹139 crore, Q1 FY26: Profit of ₹88 crore)
Earnings Per Share:
- Basic: (₹1.08)
- Diluted: (₹1.08)
EBITDA: ₹291 crore (Q4 FY26: ₹594 crore, Q1 FY26: ₹417 crore)
Standalone Financial Performance
Revenue from operations: ₹1,836 crore
Total Income: ₹1,844 crore
Expenses: ₹1,985 crore
Net Loss after tax: ₹449 crore
EPS: Basic and Diluted (₹1.15)
EBITDA: ₹179 crore
Exceptional Items Details
The Company recorded an exceptional loss of ₹487 crore during the quarter, primarily comprising:
- ₹127 crore penalty imposed by the Hon'ble Supreme Court in May 2026 for alleged misdeclaration of declared capacity
- Applicable late payment surcharge on the above penalty
- The Company has filed a review petition against the order and continues to evaluate further legal remedies
Operational Update
An incident occurred on April 14, 2026, at the Unit 1 Boiler of the Company's 1,200 MW Sakti Thermal Plant located at Singhitarai. The disclosure states that the incident "has not resulted in any material impact on the Group's overall operations, financial position, or liquidity."
Corporate Restructuring - Demerger Completion
The Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench, approved the Scheme of Arrangement for the demerger of the Merchant Power Undertaking of Vedanta Limited into Vedanta Power Limited vide order dated January 9, 2026.
Key Demerger Details:
- Effective Date: May 1, 2026 (also the Appointed Date)
- Record Date: May 1, 2026
- Share Entitlement Ratio: 1 equity share of Vedanta Power (face value ₹10) for every 1 equity share of Vedanta Limited (face value ₹1)
- Shares Allotted: 391,038,805 equity shares of face value ₹10 each
- Listing Date: June 15, 2026 on BSE and NSE
- Vedanta Limited also transferred its shareholding in Meenakshi Energy Limited to Vedanta Power Limited
Accounting Treatment
The financial results for comparative periods (Q1 FY26, Q4 FY26, and FY26) have been restated as if the demerger had been effective from April 1, 2025, in accordance with the accounting treatment prescribed under the Scheme.
Capital Market Activity
On June 22, 2026, the Company listed Commercial Papers on the National Stock Exchange comprising 6,000 CPs of face value ₹5,00,000 each.
Auditor Review
M/s Walker Chandiok & Co LLP, Chartered Accountants, issued an unmodified review report on both consolidated and standalone financial results.
Financial Ratios (Consolidated)
- Debt equity ratio: 0.68 times
- Debt service coverage ratio: 0.80 times
- Interest service coverage ratio: 1.28 times
- Current ratio: 0.94 times
- Operating profit margin: 2.53%
- Net profit margin: 2.26%
- Net worth: ₹13,077 crore
Capital Structure
- Paid-up equity share capital: ₹3,911 crore (face value ₹10 each)
- Reserves excluding share capital pending issuance: ₹9,166 crore