Vedanta Ltd Q3 FY25 Results & Concall Highlights: Revenue, Margins & Order Book
Published 4 Aug 2026 | Diversified Metals | Market Cap: ₹1.0L Cr
Aluminum volumes expected to exceed 2.4 million tons by FY '25 end, with smelter expansion targeting commissioning of an additional 250,000 tons per annum by FY '27/'28. Vedanta expects transformational growth in FY '26, driven by completion of key growth and integration projects placing businesses in the top decile of the global cost curve (Page 5).
From Vedanta Ltd's Q3 FY25 earnings-call transcript · updated 23 Aug 2026.
Price
₹279
Market Cap
₹1.0L Cr
P/E Ratio
9.5
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Vedanta Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹24.6K Cr, net profit ₹9.4K Cr.
Full financials →📊 Revenue & Sales Performance
- →Aluminum volumes expected to exceed 2.4 million tons by FY '25 end, with smelter expansion targeting commissioning of an additional 250,000 tons per annum by FY '27/'28.
- →Alumina captive production to gradually increase, meeting 70% of requirements by FY '26.
- →Zinc International Phase-2 expansion commissioning targeted in FY '26, aiming for improved volumes.
- →KCM copper production ramping up to 160-180 kilotons per month in FY '26, with a run rate reaching pre-liquidation levels; annualized production forecasted around 150-200 kilotons next year.
- →Oil & gas production to stabilize and potentially increase in H2 FY '26 due to ASP injection and infill wells.
- →Iron ore production expected to rise 20-25% next year with 240-250 kilotons from Gamsberg and Black Mountain.
- →Merchant power capacity to reach 5 Gigawatts within 12-15 months, supporting volume growth.
- →Overall strong volume and revenue growth anticipated through FY '26 and beyond with improved operational efficiencies.
📈 Profitability & Margins
- →Vedanta expects transformational growth in FY '26, driven by completion of key growth and integration projects placing businesses in the top decile of the global cost curve (Page 5).
- →Zinc International's Phase-2 expansion commissioning targeted in FY '26, with expected improved production and EBITDA growth continuing into FY '26 and beyond (Pages 5, 18, 10).
- →Aluminum volumes projected to slightly exceed 2.4 million tons by year-end FY '25 with alumina cost reductions expected, supporting margin improvement (Page 16).
- →Oil & Gas production is expected to stabilize and improve in H2 FY '26 due to investments in infill wells and ASP project, contributing to volume uplift and sustaining EBITDA (Pages 19, 9).
- →KCM Copper operations ramping up with anticipated strong performance in coming year, targeting 150-200 KT production, contributing positively to earnings (Pages 10, 17).
- →Vedanta aims to deliver highest-ever EBITDA in FY '25 and continued volume growth with structural cost initiatives to enhance profitability and EPS (Pages 5, 6).
🏗️ Capital Expenditure Plans
- →Vedanta Limited is actively investing in new infill wells and the ASP (Advanced Secondary Processing) project in the oil and gas business to boost near-term volumes and revenue (Page 19).
- →CAPEX spend for the current fiscal is expected to be in the range of $1.5 to $1.6 billion, with 9 months already having spent about $1.15 billion, aiming for a $1.9 billion target (Page 16).
- →The zinc Phase-2 expansion project at Zinc International is underway, targeting commissioning in FY '26 (Pages 5, 10).
- →The integrated smelter refinery project in Saudi Arabia has a planned investment of $2 billion over multiple years; currently in early stages (Pages 13).
- →Vedanta's smelter expansion aims to commission an additional 250,000 tons per annum by FY '27/'28 (Page 5).
- →Focus on CAPEX to arrest production decline and increase volumes in oil and gas, including investments in infill wells and ASP injection (Pages 8-9, 19).
💰 Fundraising & Capital Structure
- →No explicit mention of new fundraising through debt or equity in the current call.
- →Focus remains on deleveraging and refinancing existing debt, including restructuring the $3.1 billion bond portfolio with longer maturities and better terms.
- →Cash and cash equivalents stand robust at Rs. 21,138 crores, aiding liquidity and reducing need for immediate financing.
- →QIP and equity offers mentioned as past actions supporting cash position.
- →No specific discussions or guidance on fresh equity or debt raising planned for near term.
- →Strategic priorities are on optimizing capital structure, cost leadership, and deleveraging rather than new fundraising.
- →Project CAPEX funded from internal cash flows and minimal near-term external funding expected.
📋 Order Book & Pipeline
Key Metrics
Frequently Asked Questions
What were Vedanta Ltd Q3 FY25 results?
Aluminum volumes expected to exceed 2.4 million tons by FY '25 end, with smelter expansion targeting commissioning of an additional 250,000 tons per annum by FY '27/'28. Vedanta expects transformational growth in FY '26, driven by completion of key growth and integration projects placing businesses in the top decile of the global cost curve (Page 5).
What is Vedanta Ltd share price analysis?
Vedanta Ltd currently shows a neutral. The stock trades at a P/E of 9.5 with a market cap of ₹104,603 Cr. Investors should review the full earnings analysis for detailed insights.
Is Vedanta Ltd planning capital expenditure?
Vedanta Limited is actively investing in new infill wells and the ASP (Advanced Secondary Processing) project in the oil and gas business to boost near-term volumes and revenue (Page 19).
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.