Vedanta Ltd Share Price – NSE /  BSE

Mining & Mineral products, Mid Cap

The Board of Vedanta at its meeting held on 08 November 2024 has approved expansion of smelter capacity and rolled products of its subsidiary, Bharat Aluminium Company as under:

• Earlier approved Smelter capacity enhancement of 414 KTPA now stands revised to 435 KTPA, with latest technology, consequentially enhancing Smelter capacity from 580 KTPA to 1015 KTPA.

• Addition of Wire Rod (50 KTPA) to improve wire rod capacity from 218 KTPA to 268 KTPA.

• Sow Ingot Capacity addition revised from 100 KTPA to 200 KTPA.

• Above improvements along with planned addition of Billet (420 KTPA), RP debottlenecking to reach 180 KTPA, PFA to 180 KTPA and infrastructure developments will be accomplished at a cost of Rs 11,816 crore. Economic benefits of these additions are expected to garner from FY2025-26. Funding will be done by Internal Accruals & Debt.

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The Board of Vedanta at its meeting held on 08 November 2024 has approved the acquisition of 100% shares of Sterlite Iron and Steel Company (SISCOL), a wholly owned subsidiary of Vedanta Incorporated, by Sesa Resources (SRL) for Rs 1 lakh. Accordingly, SISCOL shall become a step-down subsidiary of Vedanta.

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The Board of Vedanta at its meeting held on 08 November 2024 has approved Rs 5,209 crore capex (including Rs 565 crore of acquisition cost) for Athena Chhattisgarh Power Plant Project located in Sakti district, Chhattisgarh.

The power plant consists of two 600 MW units with Unit #1 approximately 80% complete and Unit #2 at 20%. The first unit of power plant is scheduled to go operational in the first quarter of FY 2025-26 followed by the second unit in the third quarter of FY 2025-26.

Capex will be spread over upcoming financial years and financed through a combination of internally generated funds and borrowed capital. The plant benefits from a strategic location near water and coal resources.

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Net profit of Vedanta reported to Rs 4352.00 crore in the quarter ended September 2024 as against net loss of Rs 1783.00 crore during the previous quarter ended September 2023. Sales declined 3.57% to Rs 37171.00 crore in the quarter ended September 2024 as against Rs 38546.00 crore during the previous quarter ended September 2023.

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