Vedanta Ltd

- Vedanta Resources requires about USD 0.3 billion in debt for FY27, with an additional USD 0.2 billion related to inter-company loans, totaling approximately USD 0.5 billion in principal amount needed. - Interest on this debt is expected to be similar, around USD 0.5 billion, requiring a total of about USD 1 billion. - Funding sources include existing brand fees (~USD 400 million) and expected receipts (~USD 600 million), involving dividend upstreaming from Vedanta India. - Post de-merger, differentiated capital structures may enable raising funds through anchor investors both domestically and globally. - No explicit mention of new equity fundraising; however, the holdco level may consider capital allocation and M&A activities, potentially involving equity. - Zinc International expansion will be self-funded through generated cash flows after this year, reducing reliance on external funding. - Large capex projects (e.g., Saudi Arabia) will be funded 75% by debt at 2-2.5% cost and 25% equity from Vedanta’s free cash flow. In summary, Vedanta plans organic deleveraging, selective debt raising, and possibly external investors post de-merger, with capex funded via a mix of debt and equity.

- Zinc International: $4 billion capex planned, primarily for Gamsberg underground expansion and related smelter; self-generating cash unit after current year; phased using generated cash flow; smelter project supported by South African government incentives. - Kingdom of Saudi Arabia: $2 billion indicated capex including rod mill plant ($30 million, ready Sep 2026) and mining blocks exploration; larger copper smelter project pending government incentives and project decision. - Multi-year growth capex of INR 15,000 crores deployed in FY24, including: - Alumina refinery expansion at Lanjigarh (5 mtpa) - New smelter at Balco (435,000 tons) - Billet lines at Jharsuguda and Balco - Debari Roaster 6 at Hindustan Zinc (160,000 tons) - 1.3 GW capacity at Athena and Meenakshi power plants - Project commissioning pipeline strong for FY25 (coal and bauxite mines, Gamsberg Phase 2 completion). - Critical mineral exploration ongoing on 10 composite blocks; 3 advanced with decisions expected within a year. - Capex largely funded through internal accruals, cash flow, and government incentives.

- Vedanta reported record highs in revenue, EBITDA, and PAT for FY26, with revenue growing 15% YoY to INR 1.74 lakh crores, signaling strong growth momentum. - Volume growth across businesses, especially a 48% YoY increase in alumina production and highest-ever aluminium production of 2.46 million tons, supports future growth. - Zinc India achieved record mined metal production of 1.1 million tons with the lowest costs in five years; Zinc International's production rose 27% YoY. - Power sales grew 30% YoY to 16.4 billion units with new operations at Athena and Meenakshi contributing to increased revenue. - Growth capex of INR 14,918 crores targeted at strategic projects across aluminium, zinc, oil & gas, and power is expected to drive higher volumes and margins. - New projects like Gamsberg Phase 2 in zinc and smelter expansions anticipate ramp-up during FY27-28. - The de-merger into focused entities is expected to enable tailored growth strategies and capital allocation.

- Zinc International's EBITDA expected to grow from $300 million in FY27 to around $500 million, driven by Phase 2 ramp-up and Gamsberg underground expansion by 2030. - Zinc International's underground material has higher grade (~7%) and potential to add 16 million tons of metal reserve and resources (R&R). - Critical minerals exploration in seven blocks aims to finish by 2028, with mine planning starting in 2027, and projects expected operational around 2030, contributing to future earnings. - Vedanta has invested INR 14,918 crores in growth capex across aluminium, zinc, oil & gas, and power, emphasizing value-accretive growth and volume expansion. - Aluminium business delivered record production and lowest five-year cost, with EBITDA up 43% YoY and 38% margin, supporting earnings growth. - Vedanta expects strong cash flow self-generation to fund capex and support de-leveraging, minimizing funding risks amid high zinc prices (> $3,000/ton). - Overall, Vedanta's diversified portfolio and growth in critical minerals position it for sustained earnings and profit growth by 2030.

The provided pages of the Vedanta Limited document do not contain specific information regarding current or expected order book or pending orders. The discussion primarily focuses on: - Mining lease and approvals timeline for coal and bauxite mines (like Kuraloi, Ghogharpalli, Sijimali). - Delays and regulatory approvals processes affecting mine openings. - Production ramp-up schedules for aluminium smelter and capacity expansions in Zinc and Copper segments. - Financial performance, debt, de-leveraging, dividend policies, and business de-merger plans. - Details about refinery operations and mine commissioning timelines. No explicit data or commentary on order book status or pending orders is mentioned in the accessible content.