Vedanta Ltd Q4 FY26 Earnings Analysis

Future growth expectations in sales/revenue/volumes for Vedanta Limited based on the document are: - Continued volume growth across core businesses driving record revenues (INR1.74 lakh crores in FY26). - Aluminium business expansion with production ramp-up at Lanjigarh refinery, targeting close to 4 million tons per annum alumina. - Zinc India aiming to maintain record mined metal production above 1 million tons. - Zinc International increasing mined metal production by 27% YoY, targeting 450,000+ tons of zinc metal with Gamsberg Phase 2 ramp-up and new projects. - Power sales growth of 30% YoY expected with Athena and Meenakshi plants. - Steel production at Bokaro targeting higher annual outputs beyond current record (1.3 million tons). - Continued organic growth in each entity post de-merger with capex focused on 2x or 3x growth stories. - Critical minerals projects set to add to volumes by 2030 after exploration and development phases. - Overall company targeting value-accretive, disciplined growth with strong cash flows funding expansion.

- Zinc International EBITDA expected to grow from $300 million in FY27 to around $500 million, driven by Gamsberg underground expansion and phased capacity growth by 2030. - Gamsberg underground has a Resource & Reserve (R&R) almost as large as Hindustan Zinc, with higher grade (~7%) ores. Mining and smelting projects for critical minerals expected to add value by 2030. - Zinc International’s $4 billion capex largely funded internally via self-generated cash flows post current projects, reducing reliance on external financing. - Vedanta’s overall EBITDA margins improved significantly (44% Q4 FY26), with highest-ever revenues and PAT in FY26, reflecting strong operational performance and cost efficiencies. - Aluminium business delivered record alumina and aluminium production with a 38% margin and lowest hot metal cost in 5 years, supporting future EPS growth. - Power and other growth businesses (oil and gas, steel) driving diversified revenue and profit streams to fuel expansion. Overall, medium-term EPS growth is expected from volume ramp-ups, cost improvements, and new projects maturing by around 2030.

The provided pages (especially page 19) of the Vedanta Limited document do not contain specific information related to the current or expected order book or pending orders. The content primarily focuses on: - Mine approvals and timelines, especially for Sijimali and coal mines like Kuraloi and Ghogharpalli. - Updates on refinery run rates and production capacity. - Discussions on regulatory approvals and community engagement. - Financial and operational performance highlights. - Details on the de-merger and capital structure. - Responses to investor questions on acquisitions, dividend policies, and debt management. No explicit mention or data regarding order books or pending orders is found in these excerpts. If you need detailed information on the order book or pending orders, it may be available in other sections or documents from Vedanta Limited.