Key Financial Figures - Consolidated Operations

Continuing Operations (Q2 FY27):

  • Revenue from operations: ₹26,356 crore
  • Total income: ₹26,866 crore
  • Profit before tax: ₹8,390 crore
  • Net profit after tax: ₹6,202 crore
  • EBITDA: ₹9,938 crore
  • Earnings per share (Basic): ₹9.35
  • Earnings per share (Diluted): ₹9.30

Continuing Operations (H1 FY27):

  • Revenue from operations: ₹50,561 crore
  • Total income: ₹51,613 crore
  • Profit before tax: ₹15,579 crore
  • Net profit after tax: ₹14,120 crore
  • EBITDA: ₹22,298 crore
  • Earnings per share (Basic): ₹17.30
  • Earnings per share (Diluted): ₹17.20

Discontinued Operations (Q2 FY27):

  • Represents demerged businesses (Aluminium, Oil & Gas, Iron Ore, Power) for period April 1-30, 2026 only
  • Profit before tax: ₹3,441 crore (Q2, but actually April 2026)
  • Net profit after tax: ₹2,624 crore (Q2, but actually April 2026)

Segment-wise Performance (Q2 FY27 Continuing Operations):

  • Zinc, Lead & Silver - India: Revenue ₹14,525 crore, EBITDA ₹9,243 crore
  • Zinc - International: Revenue ₹1,730 crore, EBITDA ₹550 crore
  • Copper: Revenue ₹9,280 crore, EBITDA ₹80 crore
  • Others: Revenue ₹710 crore, EBITDA ₹65 crore

Key Financial Figures - Standalone Operations

Continuing Operations (Q2 FY27):

  • Revenue from operations: ₹8,750 crore
  • Total income: ₹8,884 crore
  • Loss before tax: ₹218 crore
  • Net loss after tax: ₹170 crore
  • Earnings per share: -₹0.43

Continuing Operations (H1 FY27):

  • Revenue from operations: ₹16,466 crore
  • Total income: ₹19,542 crore
  • Profit before tax: ₹2,294 crore
  • Net profit after tax: ₹4,214 crore
  • Earnings per share: ₹6.06

Capital Structure

  • Paid-up equity share capital: ₹391 crore (Face value ₹1 each)
  • Reserves excluding revaluation reserves: ₹49,261 crore (as of March 31, 2026)

Dividend Declaration

Subsequent to the quarter ended September 30, 2026, the Board of Directors on October 8, 2026, approved the first interim dividend of ₹5 per equity share (face value ₹1 per share) for FY 2026-27.

Demerger Details

The Hon'ble National Company Law Tribunal, Mumbai Bench, approved the Scheme of Arrangement on December 16, 2025, and January 9, 2026, providing for demerger of:

  • Aluminium business into Vedanta Aluminium Metal Limited
  • Oil & Gas business into Vedanta Oil And Gas Limited
  • Iron Ore business into Vedanta Iron and Steel Limited
  • Merchant Power business into Vedanta Power Limited

The demerger was effective from May 1, 2026 (Appointed Date). Consequently, these businesses are presented as discontinued operations, with results only including period from April 1 to April 30, 2026.

Regulatory and Legal Matters

Ongoing Investigations:

  • Short seller report allegations from previous year - management believes allegations are baseless
  • SEBI communicated observations on related party transactions for Hindustan Zinc Limited subsidiary
  • Enforcement Directorate conducted search and seizure operation under FEMA from June 1-3, 2026
  • Company has provided all information sought by regulators
  • No financial adjustments considered necessary in financial results

Ministry Approvals:

  • Ministry of Petroleum and Natural Gas provided no-objection/approval on July 24, 2026, for assignment of participating interests and operatorship for oil and gas blocks transferred to VOGL

Subsidiaries and Associates

The consolidated results include numerous subsidiaries, associates, joint ventures, and joint operations as listed in Annexure 1, including:

  • Bharat Aluminium Company Limited
  • Hindustan Zinc Limited
  • Fujairah Gold FZC
  • Cairn Energy Hydrocarbons Limited
  • Various international mining and exploration entities

Financial Ratios (Consolidated - Continuing Operations)

  • Debt-Equity Ratio: 1.15 times (Q2 FY27)
  • Interest Service Coverage Ratio: 12.79 times (Q2 FY27)
  • Current Ratio: 1.38 times (Q2 FY27)
  • Operating Profit Margin: 33% (Q2 FY27)
  • Net Profit Margin: 24% (Q2 FY27)

Debt Information

  • Non-convertible debentures outstanding: ₹11,360 crore (consolidated) as of September 30, 2026
  • All NCDs are listed and unsecured

Cash Flow Highlights (Consolidated H1 FY27)

  • Net cash from operating activities: ₹14,046 crore
  • Net cash used in investing activities: ₹10,220 crore
  • Net cash from financing activities: ₹3,623 crore
  • Net increase in cash: ₹7,495 crore

Compliance Statements

  • No deviation or variation in proceeds of public/issues
  • No outstanding defaults on loans and debt securities
  • Related party transactions disclosure to be filed along with XBRL for financial results
  • No impact of audit qualifications (not applicable)