VEDANTA RESOURCES POSTS STRONG H1 REVENUE, EBITDA GROWTH

KUALA LUMPUR, Dec 8 (Bernama) -- Vedanta Resources Limited (VRL), a global transition metals, critical minerals, energy and technology company, posted stronger financial performance in the first half of fiscal year 2026 (H1FY26), with revenue rising eight per cent to US$9.367 billion, driven by favourable commodity prices and operational efficiencies. (US$1=RM4.10)

The company also recorded a six per cent rise in earnings before interest, tax, depreciation and amortisation (EBITDA) to US$2.752 billion, while profit after tax before special items increased seven per cent to US$738 million.

VRL’s net debt to EBITDA ratio improved to 2.0 times, with cash and cash equivalents of US$2.628 billion. Return on capital employed held at about 23 per cent, which the company said reflected disciplined capital deployment across its portfolio.

In a statement, the company said it refinanced US$550 million of high-cost debt, reducing overall interest cost to around 10 per cent and extending its average maturity to roughly 4.5 years.

In the first half, the company invested nearly US$0.9 billion in growth capital expenditure (capex) and delivered record production across multiple segments. Aluminium output inched up one per cent to 1,222 kilotonnes (kt), alumina rose 19 per cent to 1,240 kt, and Zinc India’s mined metal production increased one per cent to 523 kt.

Konkola Copper Mines ramped up output following its restart, recording 41 kt of metal in concentrate and 51 kt of finished volumes.

Notably, the Vedanta group’s aluminium company, BALCO, produced its first metal from what VRL described as India’s most powerful 525-kiloampere smelter, while Lanjigarh in Odisha delivered the first alumina from its expanded refinery.

S&P Global and Moody’s upgraded VRL’s outlook to Positive, while Fitch affirmed its B+/Stable rating, citing an improved credit profile supported by refinancing progress and steady operational performance across subsidiaries.

-- BERNAMA