Vedanta Resources reports record $18.2 billion revenue and $5.5 billion EBITDA in FY25
Vedanta Resources Limited ('VRL'), the world's leading transition metals, critical minerals, energy, and technology company, has reported robust growth in revenue and EBITDA for FY25, driven by favourable commodity prices, higher premiums, and operational efficiencies.
The company posted a record revenue of US$18.2 billion, up 6% year-on-year, and achieved its second-highest consolidated EBITDA of US$ 5.5 billion, marking a 16% increase from the previous year. The EBITDA margin rose to an industry-leading 36%. Free cash flow post-capex totalled US$ 1.0 billion, while cash and cash equivalents stood at US$ 2.6 billion. Return on capital employed (ROCE) remained strong at approximately 25%, underscoring disciplined and value-focused deployment across its portfolio.
Commenting on the performance, Anil Agarwal, chairman of Vedanta Resources Limited, said: "The world around us is moving fast. There are big changes in geopolitics and geoeconomics. Some may view them as a challenge. We view them as opportunities."
Looking ahead, he added: "For Vedanta, this is the right moment to transform itself into a natural resources, energy and technology company. Vedanta 2.0 will have a key role in each of the most crucial levers of the economy. We are also in the process of demerging our business verticals to create a pure play model, which is nimble and fine-tuned to even faster growth and unlocking of massive value." The company also made significant progress in deleveraging, reducing its net debt by US$1.2 billion to US$11.1 billion. This improved the net debt/EBITDA ratio to 2.0x from 2.6x the previous year. Reflecting its strengthened financial position, S&P Global raised VRL's credit rating by three notches to B+, while Fitch Ratings and Moody's also upgraded their ratings to B+ and B1, respectively.
Operationally, Zinc India achieved record mined and refined metal production of 1,095 kt and 1,052 kt, respectively. Aluminium operations delivered record metal production of 2,422 kt and alumina production of 1,975 kt. Both businesses maintained cost leadership, ranking in the top quartile and top decile of the global cost curve, respectively.
Vedanta's Indian subsidiary, Vedanta Limited, is currently undergoing a strategic demerger that will result in four independent, sector-focused, and globally scaled entities. The demerger was approved by shareholders and creditors with an overwhelming majority of over 99.5% voting in favour.
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