Vedanta, demerged Vedanta Aluminium, Vedanta Oil & Gas get rating upgrades from CRISIL

CRISIL upgraded Vedanta Ltd's long-term rating to CRISIL AA+/Stable from CRISIL AA/Watch Developing, citing the strong consolidation of Hindustan Zinc, which contributes over 95% of post-demerger earnings. The demerged entities, Vedanta Aluminium and Vedanta Oil and Gas, also received upgrades to CRISIL AA+/Stable, reflecting improved business and financial risk profiles. Net debt to EBITDA under the demerged structure is estimated at around 0.7 times as of March 31, 2026, with leverage expected to stay below 1.0-1.25 times over the medium term.