Vedanta Ltd on Wednesday reported its highest-ever annual profit of Rs 25,096 crore for FY26, up 22 per cent year-on-year, driven by strong commodity prices, record operational performance and lower costs, while fourth-quarter net profit surged 89 per cent to Rs 9,352 crore.
The company also posted record revenue of Rs 1.74 lakh crore in FY26, up 15 per cent from a year ago, while fourth-quarter revenue rose 29 per cent to Rs 51,524 crore.
Operating performance in FY26 remained robust, with EBITDA climbing 29 per cent year-on-year to a record Rs 55,976 crore in FY26, while Q4 EBITDA jumped 59 per cent to Rs 18,447 crore.
EBITDA margin expanded 44 per cent in the March quarter from 35 per cent a year ago. Vedanta said improved realisations, higher production volumes, premiums and forex gains supported earnings growth, alongside cost efficiencies across its businesses.
The company’s balance sheet also strengthened, with net debt-to-EBITDA improving to 0.95 times at the end of FY26 from 1.22 times a year earlier. Gross debt stood at Rs 81,740 crore, while net debt was Rs 53,254 crore. Cash and cash equivalents rose 38 per cent year-on-year to Rs 28,485 crore.
“FY26 was a year of strong execution for Vedanta, with record operational performance across the portfolio,” Executive Director Arun Misra said, highlighting the ramp-up of new capacities and around Rs 15,000 crore of growth capex deployed during the year.
Chief Financial Officer Ajay Goel said the March quarter marked a “defining point” for the company as it delivered all-time highs in revenue, EBITDA and profit while entering the next phase of growth with the demerger becoming effective from May 1.
Operationally, Vedanta reported record output across several businesses during the year. Aluminium production touched an all-time high of 2.46 million tonnes, alumina output rose 48 per cent to 2.92 million tonnes, while Zinc India posted record mined metal production of 1.11 million tonnes. Copper cathode production rose 15 per cent to a record 170 kt.
The company also highlighted milestones, including first metal production from BALCO’s 525 kA smelter, acquisition of Incab Industries, an offshore gas discovery in the Ambe block and securing a five-year 500 MW power purchase agreement.
Vedanta said it invested Rs 14,918 crore in capex during FY26 and maintained shareholder payouts with a total dividend of Rs 34 per share for the year. It reported a total shareholder return of 48.6 per cent during the fiscal year.
The company’s demerger is effective from May 1 2026. Vedanta’s credit ratings were reaffirmed at AA by CRISIL and ICRA, while parent Vedanta Resources saw its rating upgraded by Fitch.
For the March quarter, profit before tax more than doubled to Rs 15,529 crore from Rs 6,656 crore a year ago, while finance costs declined 21 per cent year-on-year to Rs 2,039 crore.
