Latest news with #VedantaResourcesLtd
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Business Standard
3 days ago
- Business
- Business Standard
Vedanta Ltd to raise Rs 5,000 crore via NCDs as profit surges in Q4
Mining conglomerate Vedanta Ltd on Friday said the committee of directors has approved raising up to Rs 5,000 crore via issuance of debentures. The committee approved issuance of 5 lakh unsecured, rated, listed, redeemable NCDs of face value of Rs 1 lakh each on a private placement basis, as per a regulatory filing by Vedanta. "The duly authorised committee of directors at its meeting held today... has considered and approved the issuance of unsecured, rated, listed, redeemable, non-convertible debentures (NCDs) on a private placement basis... aggregating up to Rs 5,000 crore," the filing said. The issue will be listed on the BSE. Mining major Vedanta Ltd reported a 154.4 per cent increase in consolidated net profit to Rs 3,483 crore in the March quarter driven by lower production costs and higher volumes. The company had posted a net profit of Rs 1,369 crore in the year-ago period. The income of the company during the January-March period rose to Rs 41,216 crore from Rs 36,093 crore in the year-ago period, Vedanta had said in a BSE filing. As on March 31, 2025, the company's gross debt stood at Rs 73,853 crore. Anil Agarwal-led Vedanta Ltd expects to complete the demerger of its businesses by the September-end, according to a top company official. Speaking with PTI, Vedanta CFO Ajay Goel said, "We are on track to finish (the demerger) by the second quarter end." Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources, critical minerals, energy, and technology companies spanning across India, South Africa, Namibia, Liberia, the UAE, Saudi Arabia, Korea, Taiwan, and Japan with significant operations in sectors like oil and gas, zinc, lead, silver, copper, iron ore and steel.
Time of India
3 days ago
- Business
- Time of India
Vedanta to raise up to ₹5,000 cr via debentures
New Delhi: Mining conglomerate Vedanta Ltd on Friday said the committee of directors has approved raising up to ₹5,000 crore via issuance of debentures. The committee approved issuance of 5 lakh unsecured, rated, listed, redeemable NCDs of face value of ₹1 lakh each on a private placement basis, as per a regulatory filing by Vedanta. "The duly authorised committee of directors at its meeting held today... has considered and approved the issuance of unsecured, rated, listed, redeemable, non-convertible debentures (NCDs) on a private placement basis... aggregating up to ₹5,000 crore," the filing said. The issue will be listed on the BSE. Mining major Vedanta Ltd reported a 154.4 per cent increase in consolidated net profit to ₹3,483 crore in the March quarter driven by lower production costs and higher volumes. The company had posted a net profit of ₹1,369 crore in the year-ago period. The income of the company during the January-March period rose to ₹41,216 crore from ₹36,093 crore in the year-ago period, Vedanta had said in a BSE filing. As on March 31, 2025, the company's gross debt stood at ₹73,853 crore. Anil Agarwal-led Vedanta Ltd expects to complete the demerger of its businesses by the September-end, according to a top company official. Speaking with PTI, Vedanta CFO Ajay Goel said, "We are on track to finish (the demerger) by the second quarter end." Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources, critical minerals, energy, and technology companies spanning across India, South Africa, Namibia, Liberia, the UAE, Saudi Arabia, Korea, Taiwan, and Japan with significant operations in sectors like oil and gas, zinc, lead, silver, copper, iron ore and steel.
Time of India
3 days ago
- Business
- Time of India
Vedanta to raise up to Rs 5,000 crore via debentures
New Delhi, Mining conglomerate Vedanta Ltd on Friday said the committee of directors has approved raising up to Rs 5,000 crore via issuance of debentures. The committee approved issuance of 5 lakh unsecured, rated, listed, redeemable NCDs of face value of Rs 1 lakh each on a private placement basis, as per a regulatory filing by Vedanta. "The duly authorised committee of directors at its meeting held today... has considered and approved the issuance of unsecured, rated, listed, redeemable, non-convertible debentures (NCDs) on a private placement basis... aggregating up to Rs 5,000 crore," the filing said. The issue will be listed on the BSE. Mining major Vedanta Ltd reported a 154.4 per cent increase in consolidated net profit to Rs 3,483 crore in the March quarter driven by lower production costs and higher volumes. Live Events The company had posted a net profit of Rs 1,369 crore in the year-ago period. The income of the company during the January-March period rose to Rs 41,216 crore from Rs 36,093 crore in the year-ago period, Vedanta had said in a BSE filing. As on March 31, 2025, the company's gross debt stood at Rs 73,853 crore. Anil Agarwal-led Vedanta Ltd expects to complete the demerger of its businesses by the September-end, according to a top company official. Speaking with PTI, Vedanta CFO Ajay Goel said, "We are on track to finish (the demerger) by the second quarter end." Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources, critical minerals, energy, and technology companies spanning across India, South Africa, Namibia, Liberia, the UAE, Saudi Arabia, Korea, Taiwan, and Japan with significant operations in sectors like oil and gas, zinc, lead, silver, copper, iron ore and steel. PTI ETMarkets WhatsApp channel )
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Business Standard
05-05-2025
- Business
- Business Standard
Vedanta Resources proposes to repay $920 million debt in FY26: CFO Goel
Anil Agarwal-led Vedanta Resources Ltd (VRL), as part of its deleveraging exercise, has proposed to repay $920-million debt in the current fiscal year and about $675 million in the next, a company official said. The company has been gradually deleveraging its balance sheet, improving its capital structure, and lowering its financial costs by tapping bond markets as part of its liquidity management exercise. In a Q4 earnings conference call, Vedanta's Chief Financial Officer Ajay Goel said, "So $920 million is a debt repayment to do in the current year. Next year, FY27, it's about $675 million." The need for cash at VRL is declining rapidly, led by both deleveraging and refinancing, he said, adding that at the same time, overall cash flow at Vedanta India, given the augmented volume, compressed cost, is much higher. "So overall, we as a group in terms of cash management is historical best position," he explained. Last year, Vedanta firmly established itself as one of the most proactive companies in terms of executing strategic corporate actions. "...we witnessed a number of such actions, including Rs 8,500 crores via QIP, Rs 3,150 crore via OFS for Zinc shares, $0.5 billion through equity partnership at our parent company Vedanta Resources, and also refinancing $3.1 billion bond portfolio for parent company at lower cost, longer maturities and much congenial terms and conditions," he said. All these actions have supported the company in achieving a deleveraging of $1.2 billion at the group level, of which $0.7 billion at parent company, VRL; and $0.5 billion at Vedanta India. As on March 31, 2025, Vedanta Resources' net debt (standalone level) was $4.9 billion. "And the leverage at the group level has improved to 2x from 2.7x a year ago. With this progress, both Vedanta Ltd and its parent entity now maintain a strong leverage position than most of our key global peers," he said. Vedanta Resources Ltd is the holding company for Vedanta Ltd and Konkola Copper Mines. These businesses in turn have multiple subsidiaries with a portfolio comprising operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power, and glass substrate.
