NSE: VISL · BSE: 544784
VEDANTA IRON AND STEEL L
Mines iron ore and manufactures steel, pig iron, and metallurgical coke. In Q1 FY27 (quarter ended June 30, 2026), consolidated revenue was Rs 3,662 crore, up 18% YoY, with EBITDA of Rs 515 crore at a 14% margin and a net profit of Rs 121 crore versus a Rs 145 crore loss a year earlier. The steel segment contributed Rs 2,839 crore of segment revenue, with steel and iron ore production each up 4% YoY and pig iron output hitting a record 291 KT, up 8% YoY. Iron ore is the upstream business feeding steelmaking, while the recently acquired MetCoke business (from fellow subsidiary MALCO for Rs 1 crore) supplies a key input. The Iron Ore Undertaking was demerged from Vedanta Limited effective May 1, 2026, with equity shares listing on BSE and NSE on June 15, 2026. It carries a CRISIL AA/Stable credit rating, with finance cost of Rs 207 crore in the quarter and net debt to EBITDA at 1.3x. AR · MarketPing reader · 2026-09-16
Revenue streams, as the annual report describes them. Steel, Iron Ore, MetCoke. Cyclical, asset-heavy mining and steel manufacturing
Exhibit 1: Financial summary, – (all audited; no estimate years)
| ₹ crore · consolidated |
|---|
| Revenue |
| EBITDA (ex other income) |
| margin % |
| Owners' profit |
| EPS, as reported (₹) |
| ROE % · ROCE % |
| Debt / equity (x) |
| Cash from operations |
| Capex |
Exhibit 2: Quarterly performance, last 1 quarters
| ₹ crore | Q1 FY27 |
|---|---|
| Revenue | 3,662 |
| Profit before tax | 165 |
| Net profit | 121 |
| EPS (₹) | 0.31 |
Exhibit 3: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Postal ballot seeks approval for 7 material related party deals | board shareholder meetings | low | — | — |
| 28 Oct 2026 · Iron Ore Business CEO Anamika Jha resigns | management changes | high | — | — |
| 28 Oct 2026 · Q2 FY27 net loss widens despite H1 revenue and EBITDA growth | compliance | minimal | — | — |
| 27 Oct 2026 · ESL subsidiary faces Rs 11.77 crore GST demand | compliance | minimal | — | — |
| 27 Oct 2026 · Audio recording available for September 2026 quarter earnings call | investor communications | low | — | — |
| 27 Oct 2026 · H1 FY27 EBITDA rises 54% and margin expands to 9% | investor communications | medium | — | — |
| 27 Oct 2026 · Q2 and H1 FY27 operating earnings rise, but losses continue | compliance | low | — | — |
| 27 Oct 2026 · Consolidated September quarter loss narrows to Rs 324 crore; revenue slips | results | high | — | — |
| 27 Oct 2026 · Company grants 2.08 crore performance-linked stock options | capital market events | low | — | — |
| 22 Oct 2026 · Board meeting on Oct 27 to consider Q2 FY27 results | results | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.