Financial Performance and Market Developments – Vedanta Aluminium Metal Limited

Date: 31 October 2026

Earnings Highlights

  • Profit: The company reported a profit of ₹6,187 crore for Q2 FY27, a 100 % increase compared with the same quarter last year.
  • Revenue: Turnover reached ₹22,066 crore, up 41 % YoY, marking the second consecutive quarter of revenue growth.
  • EBITDA: EBITDA rose 83 % YoY to ₹10,187 crore, exceeding the ₹10 billion benchmark for the first time in company history.
  • Production: Aluminium output reached 649 kt, a 5 % increase YoY and 3 % QoQ, the highest quarterly production level achieved by the firm.
  • Debt Position: Net debt fell by ₹3,090 crore QoQ, bringing the Net Debt/EBITDA ratio to 0.7x, an improvement that strengthens the company’s balance‑sheet health.

Analyst and Brokerage Views

  • ICICI Securities noted EBITDA of approximately ₹10 bn for the quarter and projected an FY27 annualised EBITDA run rate of about USD 5 bn. The brokerage also set a target price of ₹490, implying a potential upside of 25 % to 37 %.
  • Motilal Oswal ranked Vedanta Aluminium among its top five buy recommendations, citing the company’s strong earnings momentum and operational performance.

Investor Engagement

  • The company held a quarterly financial conference on 28 October 2026, where it presented the above results to analysts and institutional investors.
  • At the same meeting, management reiterated its FY27 hot‑metal cost guidance of USD 1,650–1,700 per tonne and affirmed its outlook for continued volume growth.

Regulatory and Land‑Use Issues

  • The Odisha government cancelled 28.8 acres of land previously allotted to Vedanta in Jharsuguda district on 30 October 2026, citing prolonged non‑utilisation.
  • No immediate impact on the company’s operational or financial metrics was reported, but the decision underscores ongoing scrutiny over land utilisation for industrial projects in the state.

Current Market Position

  • Stock Price (29 Oct 2026): ₹356.45, with a 52‑week high of ₹537 and a 52‑week low of ₹334.
  • Market Capitalisation: ₹1.4 trillion.
  • Exchange Listings: BSE (Ticker 544780) and NSE (Ticker VAML).

The company’s latest financial disclosures demonstrate robust growth across profitability, revenue, and production metrics, coupled with a strengthening balance sheet. Analyst endorsements and target‑price upgrades further reinforce positive sentiment among investors.