Record Quarterly Profit of ₹6,202 crore, up 151% YoY
Record Quarterly EBITDA of ₹9,938 crore, up 106% YoY
Best in Industry, ND/EBITDA ratio of 0.1x, Net debt reduced by ₹4,624 crore
Bengaluru: Vedanta Limited (BSE: 500295, NSE: VEDL) today announced its Unaudited Consolidated Results for the Second Quarter and Half Year ended 30th Sep 2026.
- Best-ever half-yearly Profit of ₹11,496 crore, up 151% YoY • Record half-yearly Revenue of ₹49,268 crore, up 54% YoY • Quarterly EBIDTA of ₹9,938 crore, up 106% YoY
- Highest-ever half-yearly EBITDA of ₹18,407 crore, up 103% YoY • Net Debt / EBITDA improved to 0.1x, best-in-class in the industry
- Zinc International Gamsberg Phase II commissioned, total Metal-In-Concentrate (MIC) capacity to 500 kt p.a.
- FACOR: Successful extraction of first tonne of underground ore from Ostapal Mines • Portfolio of 11 critical mineral blocks, 5 under exploration
- Declared 1st Interim Dividend of ₹5 per share
Financial Highlights Q2 and H1 FY27:
- Achieved highest-ever quarterly revenue of ₹25,812 crore, up 57% YoY and 10% QoQ, taking half-yearly revenue to a record ₹49,268 crore, up 54% YoY.
- Delivered best-ever quarterly EBITDA of ₹9,938 crore, up 106% YoY and 17% QoQ, taking half-yearly EBITDA to a record ₹18,407 crore, up 103% YoY.
- Achieved highest-ever quarterly Profit* of ₹6,202 crore, up 151% YoY and 17% QoQ, with half-yearly Profit reaching a record ₹11,496 crore, up 151% YoY.
- Quarterly EBITDA margin† of 60%, up by 1055 bps YoY and 293 bps QoQ.
- Net Debt/EBITDA improved to 0.1x from 0.3x in Q1 FY27.
- Net Debt reduced by ₹4,624 crore QoQ to ₹3,675 crore, from ₹8,299 crore in June 2026, majorly driven by Cash Flow from Operations.
- Generated strong FCF (pre-capex) of ₹5,803 crore in Q2 FY27, compared with ₹4,412 crore in Q1 FY27, with cumulative H1 FCF (pre-capex) of ₹10,215 crore.
- Invested Growth Capex of ₹1,135 crore in Q2 FY27, with cumulative H1 FY27 Growth Capex of ₹2,283 crore.
- Strong liquidity with Cash & Cash Equivalents at ₹26,622 crore compared to ₹19,992 crore at the end of Q1 FY27.
- Both ICRA and CRISIL reaffirmed credit rating at AA+/Stable of Vedanta Limited.
- Declared 1st Interim Dividend of ₹5 per share.
- Overall borrowing cost at VEDL remained at ~8.3% p.a.
In H1 FY27, VRL has successfully tied up following:
- $2.15 bn of international bonds at avg. coupon rate of 7.4% and avg. maturity of 7.6 years.
- $1.85 bn of syndicate term loan at SOFR + 265 bps with an avg. maturity of 3 years.
- VRLcredit ratings at decadal high, S&P & Fitch Ratings:BB/Stable and Moody’s: Ba3/Positive.
Commenting on Q2FY27 results, Mr. Arun Misra, Executive Director, Vedanta Ltd, said, “Vedanta delivered another quarter of strong operational performance, marked by record mined metal production of 271 kt and record 1H mined metal production for the 6th consecutive year along with best-ever 1H refined metal production at Zinc India, the successful commissioning of Gamsberg Phase II at Zinc International, record chrome ore production and 100%ore procurement at FACOR, and the highest quarterly cathode production at Copper India. Alongside these operating milestones, we invested ₹1,135 crore towards our growth projects, advancing capacity expansions, mine development and resource security initiatives across the portfolio. The consistent delivery of these milestones reflects the strength of our diversified asset base and our continued focus on volume growth, cost leadership and creating value for all stakeholders.”
Mr. Ajay Goel, Group CFO, Vedanta, said, “Vedanta Limited delivered a record financial performance in Q2 FY27, with highest-ever revenue of ₹25,812 crore, EBITDA of ₹9,938 crore and PAT of ₹6,202 crore. Strong cash generation of ₹5,803 crore during the quarter enabled us to reduce net debt by ₹4,624 crore to ₹3,675 crore, with Net Debt/EBITDA improving further from 0.3x to 0.1x. With multiple growth engines across Hindustan Zinc, Zinc International, FACOR, Copper and Ports and with a rich portfolio of critical mineral blocks, Vedanta Limited is well positioned to charter the next phase of growth while maintaining financial discipline and creating long-term value.”
Consolidated Financial Performance –
(In ₹ crore, except as stated)
| Particulars | 2Q FY2027 | 2Q FY2026 | % Change YoY | 1Q FY2027 | % Change QoQ | H1 FY2027 | H1 FY2026 |
| Revenue | 25,812 | 16,445 | 57% | 23,456 | 10% | 49,268 | 31,982 |
| Other Operating Income | 544 | 291 | 87% | — | — | 1,293 | 508 |
| EBITDA | 9,938 | 4,817 | 106% | 8,469 | 17% | 18,407 | 9,084 |
| EBITDA Margin¹ | 60% | 49% | 11% | 57% | 3% | 58% | 48% |
| Finance Cost | 696 | 761 | -9% | 662 | 5% | 1,358 | 1,370 |
| Investment Income | 495 | 343 | 44% | 483 | 2% | 978 | 643 |
| Exchange Gain/(Loss) – Non-operational and others | -8 | -68 | -88% | 91 | -109% | 83 | 22 |
| Profit before depreciation and taxes | 9,729 | 4,331 | 125% | 8,381 | 17% | 18,110 | 8,379 |
| Depreciation & Amortization | 1,339 | 1,124 | 19% | 1,192 | 12% | 2,531 | 2,240 |
| Profit before tax | 8,390 | 3,207 | 162% | 7,189 | 17% | 15,579 | 6,139 |
| Tax Charge | 2,188 | 736 | 197% | 1,895 | 15% | 4,083 | 1,568 |
| Profit After Tax | 6,202 | 2,471 | 151% | 5,294 | 17% | 11,496 | 4,571 |
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