Vedanta Ltd

Vedanta Ltd

₹ 384 1.87%
24 Apr 11:41 a.m.
About

Vedanta Ltd is a diversified natural resource group engaged in exploring, extracting and processing minerals and oil & gas. The group engages in the exploration, production and sale of zinc, lead, silver, copper, aluminium, iron ore and oil & gas. It has presence across India, South Africa, Namibia, Ireland, Liberia & UAE.
Its other businesses includes commercial power generation, steel manufacturing & port operations in India and manufacturing of glass substrate in South Korea and Taiwan.[1]

Presently, India accounts for ~65% of total revenues, followed by Malaysia (9%), China (3%), UAE (1%) and others (22%).[2]

Key Points

Market Leader
With the successful acquisition of a Nickel and Cobalt plant at Goa, Vedanta has become the sole producer of Nickel in India. [1]

  • Market Cap 1,42,778 Cr.
  • Current Price 384
  • High / Low 397 / 208
  • Stock P/E 7.69
  • Book Value 179
  • Dividend Yield 26.5 %
  • ROCE 24.1 %
  • ROE 32.5 %
  • Face Value 1.00

Pros

  • Stock is providing a good dividend yield of 26.4%.
  • Company has delivered good profit growth of 56.3% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 89.6%

Cons

  • Promoter holding has decreased over last quarter: -1.76%
  • Tax rate seems low
  • Promoters have pledged 100.0% of their holding.
  • Earnings include an other income of Rs.19,238 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
9,661 12,391 12,958 15,123 16,187 19,009 17,913 16,998 15,832 17,337 15,907 19,236 17,833
7,184 9,329 9,190 10,382 12,354 13,769 15,016 15,133 13,888 14,603 14,107 14,959 14,654
Operating Profit 2,477 3,062 3,768 4,741 3,833 5,240 2,897 1,865 1,944 2,734 1,800 4,277 3,179
OPM % 26% 25% 29% 31% 24% 28% 16% 11% 12% 16% 11% 22% 18%
6,015 -140 1,399 639 4,965 1,122 174 381 4,611 14,188 3,816 -1,336 2,570
Interest 756 813 722 716 840 868 858 1,057 1,197 1,272 1,335 1,405 1,409
Depreciation 633 654 704 727 772 742 873 950 1,040 816 881 975 996
Profit before tax 7,103 1,455 3,741 3,937 7,186 4,752 1,340 239 4,318 14,834 3,400 561 3,344
Tax % 19% 1% 11% 17% 10% 13% -25% 88% -8% -0% -0% 96% 8%
5,720 1,441 3,336 3,279 6,473 4,157 1,674 29 4,684 14,872 3,408 22 3,084
EPS in Rs 15.39 3.88 8.97 8.82 17.41 11.18 4.50 0.08 12.60 40.01 9.17 0.06 8.30
Raw PDF
Upcoming result date: tomorrow

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
7,025 2,348 28,537 32,502 34,094 36,663 45,524 38,644 35,858 37,440 63,277 68,080 70,313
4,519 2,006 26,440 27,873 45,424 29,990 39,049 33,097 29,954 28,752 45,599 58,619 58,323
Operating Profit 2,507 342 2,096 4,630 -11,329 6,673 6,475 5,547 5,904 8,688 17,678 9,461 11,990
OPM % 36% 15% 7% 14% -33% 18% 14% 14% 16% 23% 28% 14% 17%
418 332 1,902 2,005 1,457 11,007 8,944 6,400 -9,775 10,688 8,029 25,594 19,238
Interest 420 469 3,565 3,656 3,600 3,896 3,353 3,757 3,328 3,193 3,146 4,384 5,421
Depreciation 84 148 1,505 1,012 4,287 2,986 2,842 3,243 3,264 2,519 2,945 3,661 3,668
Profit before tax 2,421 57 -1,072 1,967 -17,760 10,798 9,224 4,947 -10,463 13,664 19,616 27,010 22,139
Tax % 31% -112% 200% 2% 33% -3% 21% -3% 36% 23% 12% -1%
1,680 121 1,076 1,927 -11,906 11,069 7,256 5,075 -6,732 10,503 17,245 27,356 21,386
EPS in Rs 19.33 1.39 3.63 6.50 -40.16 37.34 19.52 13.65 -18.11 28.26 46.39 73.59 57.54
Dividend Payout % 21% 7% 90% 63% -9% 52% 109% 138% -22% 34% 97% 138%
Compounded Sales Growth
10 Years: 40%
5 Years: 8%
3 Years: 24%
TTM: 1%
Compounded Profit Growth
10 Years: 70%
5 Years: 56%
3 Years: 59%
TTM: 24%
Stock Price CAGR
10 Years: 7%
5 Years: 17%
3 Years: 18%
1 Year: 35%
Return on Equity
10 Years: 11%
5 Years: 17%
3 Years: 23%
Last Year: 32%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 87 87 296 296 296 297 372 372 372 372 372 372 372
Reserves 12,826 12,937 33,382 33,761 78,866 79,396 78,941 77,508 69,523 76,418 77,277 67,440 66,071
Preference Capital 0 0 0 0 0 0 0 2 2 0 0 0
3,599 4,831 38,943 37,644 33,468 43,233 40,713 42,202 38,935 32,299 36,778 42,120 42,580
1,326 580 10,868 6,833 69,994 43,258 27,143 30,785 30,620 28,642 34,314 48,851 42,299
Total Liabilities 17,838 18,435 83,490 78,534 182,624 166,184 147,169 150,867 139,450 137,731 148,741 158,783 151,322
993 1,555 22,584 22,126 32,039 35,065 35,747 35,525 35,457 36,768 37,211 38,348 44,038
CWIP 681 363 17,327 17,422 21,158 17,243 18,369 15,731 12,086 10,701 10,714 12,184 11,764
Investments 14,421 14,694 22,767 26,465 101,047 86,085 68,010 68,582 62,905 62,903 61,466 64,845 59,859
1,743 1,824 20,811 12,522 28,381 27,791 25,043 31,029 29,002 27,359 39,350 43,406 35,661
Total Assets 17,838 18,435 83,490 78,534 182,624 166,184 147,169 150,867 139,450 137,731 148,741 158,783 151,322

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
1,539 -128 2,832 4,240 9,845 8,139 2,740 7,699 7,199 6,047 12,564 12,491
-4,035 -303 -232 1,878 -7,422 -13,606 21,033 3,954 887 8,768 6,408 16,312
1,693 394 -506 -6,194 -1,223 4,817 -23,545 -9,600 -9,449 -13,800 -16,315 -29,174
Net Cash Flow -804 -38 2,095 -76 1,200 -650 228 2,053 -1,363 1,015 2,657 -371

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 24 22 17 13 21 15 16 19 8 11 13 9
Inventory Days 280 2,215 114 99 106 107 116 171 147 142 136 106
Days Payable 272 716 49 52 273 288 200 252 274 252 234 208
Cash Conversion Cycle 31 1,521 81 60 -146 -166 -69 -62 -119 -98 -85 -93
Working Capital Days 14 121 -89 -8 -453 -249 -122 -162 -189 -103 -46 -120
ROCE % 19% 3% 5% 8% -6% 10% 5% 7% 5% 16% 21% 24%

Shareholding Pattern

Numbers in percentages

3 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
65.18% 65.18% 69.69% 69.69% 69.69% 69.68% 69.68% 68.11% 68.11% 63.71% 63.71% 61.95%
10.29% 8.69% 8.67% 9.35% 8.68% 8.09% 7.90% 7.89% 7.48% 7.82% 7.74% 8.77%
10.60% 11.93% 10.84% 11.60% 11.57% 10.37% 11.05% 10.20% 9.98% 10.59% 11.19% 13.15%
0.00% 0.00% 0.00% 0.00% 0.00% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07%
13.61% 13.88% 10.56% 9.13% 9.84% 11.57% 11.07% 13.63% 14.29% 17.74% 17.23% 15.86%
0.32% 0.32% 0.25% 0.23% 0.22% 0.22% 0.22% 0.11% 0.08% 0.08% 0.06% 0.18%
No. of Shareholders 6,21,0576,69,9667,15,4467,43,5829,51,22813,26,95312,98,59914,11,55115,65,26419,42,80019,09,46017,85,798

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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