Please refer the enclosed file.
Awaiting price reaction for this filing.
Vedanta reported record annual aluminium production of 2,421 kt (+2% YoY) and record annual Zinc India mined metal of 1,095 kt along with refined metal of 1,052 kt (+2% YoY). Zinc International Q4 production jumped 52% YoY on better grades at Gamsberg, though annual output fell 15% YoY. Oil & Gas was a major weak spot, with gross operated production dropping to 96.2 kboepd in Q4 (-18% YoY) and full-year production falling 19% YoY to 103.2 kboepd, mainly due to natural decline at the Rajasthan block. Iron ore and steel segments showed strong sequential recovery, with Q4 saleable iron ore up 36% QoQ and steel finished production up 8% QoQ. Copper cathodes Q4 output rose 41% YoY, and power sales improved 18% QoQ on better plant availability at TSPL.
Strong metals output (aluminium and zinc at record levels) is positive for revenue and margin sentiment, but the sharp and sustained decline in oil & gas production is a clear negative that may weigh on the stock, as it remains a sizeable earnings contributor. Mixed bag overall with metals offsetting hydrocarbon weakness.