Vedanta Ltd

₹ 314 -3.90%
03 Feb - close price
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 116,831 Cr.
  • Current Price 314
  • High / Low 441 / 206
  • Stock P/E 8.17
  • Book Value 146
  • Dividend Yield 25.8 %
  • ROCE 32.2 %
  • ROE 30.0 %
  • Face Value 1.00

Pros

  • Stock is providing a good dividend yield of 25.8%.
  • Company has delivered good profit growth of 28.8% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 25.2%
  • Company has been maintaining a healthy dividend payout of 32.6%

Cons

  • Promoters have pledged 100.0% of their holding.

* 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

Consolidated Figures in Rs. Crores / View Standalone

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
21,360 19,755 15,973 21,107 22,735 28,206 28,412 30,401 34,097 39,822 38,622 36,654 34,102
14,846 15,203 11,980 14,576 14,978 19,169 18,541 19,987 23,287 26,189 28,425 28,955 27,035
Operating Profit 6,514 4,552 3,993 6,531 7,757 9,037 9,871 10,414 10,810 13,633 10,197 7,699 7,067
OPM % 30% 23% 25% 31% 34% 32% 35% 34% 32% 34% 26% 21% 21%
815 -16,505 1,025 713 886 273 652 610 507 303 733 1,085 1,156
Interest 1,232 1,064 1,252 1,312 1,321 1,325 1,182 1,066 1,216 1,333 1,206 1,642 1,572
Depreciation 2,291 2,252 1,733 1,938 1,912 2,055 2,124 2,118 2,274 2,379 2,464 2,624 2,720
Profit before tax 3,806 -15,269 2,033 3,994 5,410 5,930 7,217 7,840 7,827 10,224 7,260 4,518 3,931
Tax % 30% 21% 25% 58% 22% -29% 27% 26% 32% 29% 23% 40% 21%
Net Profit 2,665 -12,083 1,522 1,658 4,224 7,628 5,283 5,812 5,354 7,261 5,593 2,687 3,091
EPS in Rs 6.32 -33.68 2.78 2.25 8.87 17.30 11.36 12.42 11.20 15.60 11.89 4.86 6.63
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
10,136 8,978 2,749 66,152 73,710 64,262 72,225 91,866 92,048 84,447 88,021 132,732 149,200
5,008 5,478 2,283 46,557 51,595 82,741 50,849 66,989 68,877 63,704 60,703 87,908 110,604
Operating Profit 5,129 3,500 465 19,595 22,114 -18,479 21,376 24,877 23,171 20,743 27,318 44,824 38,596
OPM % 51% 39% 17% 30% 30% -29% 30% 27% 25% 25% 31% 34% 26%
615 168 33 1,874 -19,222 4,290 4,423 6,087 4,270 -14,932 2,743 1,832 3,277
Interest 87 433 475 5,094 5,659 5,778 5,855 5,112 5,689 4,977 5,210 4,797 5,753
Depreciation 96 106 197 6,882 7,159 8,572 6,292 6,283 8,192 9,093 7,638 8,895 10,187
Profit before tax 5,560 3,129 -174 9,493 -9,925 -28,540 13,652 19,569 13,560 -8,259 17,213 32,964 25,933
Tax % 24% 33% 25% -9% -15% 37% 17% 30% 28% 43% 13% 28%
Net Profit 4,222 2,696 2,280 11,421 -11,369 -17,862 11,316 13,692 9,698 -4,744 15,032 23,710 18,632
EPS in Rs 48.58 31.01 26.24 21.25 -52.77 -41.39 23.47 27.82 19.01 -17.93 31.21 50.58 38.98
Dividend Payout % 7% 13% 0% 15% -8% -8% 83% 76% 99% -22% 30% 89%
Compounded Sales Growth
10 Years: 31%
5 Years: 13%
3 Years: 13%
TTM: 23%
Compounded Profit Growth
10 Years: 22%
5 Years: 29%
3 Years: 40%
TTM: -29%
Stock Price CAGR
10 Years: 6%
5 Years: 0%
3 Years: 30%
1 Year: -12%
Return on Equity
10 Years: 13%
5 Years: 20%
3 Years: 25%
Last Year: 30%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
87 87 87 296 296 296 372 372 372 374 374 374 372
Reserves 12,724 15,031 17,388 72,712 53,579 43,743 60,128 62,940 62,322 54,644 61,906 65,011 53,867
999 3,741 4,839 80,566 77,752 67,778 71,569 58,159 66,226 59,185 57,667 53,581 59,020
1,787 1,542 723 60,545 58,654 80,163 64,952 58,896 69,648 66,536 63,551 75,201 88,824
Total Liabilities 15,597 20,401 23,037 214,120 190,281 191,980 196,946 180,367 198,568 180,737 183,496 194,165 202,083
2,416 3,307 4,136 87,205 70,108 61,591 75,631 78,455 86,327 86,127 88,002 89,498 95,979
CWIP 544 837 723 43,128 38,748 38,461 27,557 32,055 24,959 18,585 16,314 15,879 17,060
Investments 8,800 14,167 16,059 37,910 39,606 53,386 46,962 28,700 33,065 24,753 16,660 17,291 14,742
3,838 2,090 2,119 45,877 41,819 38,542 46,796 41,157 54,217 51,272 62,520 71,497 74,302
Total Assets 15,597 20,401 23,037 214,120 190,281 191,980 196,946 180,367 198,568 180,737 183,496 194,165 202,083

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
3,541 2,215 22 15,601 17,805 20,377 18,083 17,366 23,754 19,300 23,980 34,963
-2,303 -4,724 -311 -2,890 -4,133 -7,868 2,681 15,480 -10,594 -5,925 -6,678 -2,243
-400 1,726 238 -5,052 -13,956 -11,303 -12,425 -39,255 -10,242 -15,547 -17,565 -28,903
Net Cash Flow 837 -784 -51 7,659 -284 1,206 8,339 -6,409 2,918 -2,172 -263 3,817

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 25 22 19 25 18 14 11 16 16 12 14 14
Inventory Days 314 328 143 129 132 161 135 184 184 153 148
Days Payable 419 333 66 78 267 308 202 242 275 245 223
Cash Conversion Cycle -80 18 19 102 69 -120 -136 -51 -42 -80 -77 -61
Working Capital Days 40 14 118 -47 -22 -149 -175 -95 -120 -129 -68 -35
ROCE % 47% 22% 2% 16% 12% -19% 14% 17% 15% 12% 20% 32%

Shareholding Pattern

Numbers in percentages

1 recently
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
50.14 50.14 50.14 55.11 55.11 65.18 65.18 69.69 69.69 69.69 69.68 69.68
15.18 15.00 17.50 16.06 16.27 10.29 8.69 8.67 9.35 8.68 8.09 7.90
18.79 19.06 16.32 13.20 11.62 10.60 11.93 10.84 11.60 11.57 10.37 11.05
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.07 0.07
15.51 15.43 15.68 15.29 16.67 13.61 13.88 10.56 9.13 9.84 11.57 11.07
0.39 0.37 0.36 0.34 0.33 0.32 0.32 0.25 0.23 0.22 0.22 0.22

* 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.

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