Announcements

Consolidated Results for the Fourth Quarter and full year ended 31 March 2018

Q4 EBITDA of ₹ 7,929 crore, highest in 5 years Q4 PAT doubles to ₹ 5,675 crore q-o-q

Mumbai, India: Vedanta Limited today announced its audited consolidated results for the fourth quarter (Q4) and full year ended 31 March 2018 (FY 2018).

Financial Highlights

FY 2018 Q4 FY 2018
  • Revenues up 22% at ₹ 92,923 crore
  • EBITDA up 19% at ₹ 25,470 crore
  • Att. PAT3 up 10% at ₹ 8,025 crore
  • Free cash flow of ₹ 7,880 crore
  • Revenues up 13% q-o-q at ₹ 27,630 crore
  • EBITDA up 17%q-o-q at ₹ 7,929 crore
  • Att. PAT3 up 15% q-o-q at ₹ 2,420 crore
  • Free cash flow of ₹ 3,240 crore
Other Financial Highlights
  • Gross Debt2 reduced by ₹ 8,512 crore since March 31, 2017
  • Net Debt/EBITDA at 0.9x, among the lowest across Indian and global peers
  • Declared highest ever interim dividend of ₹ 7,881 crore in Mar ‘18
  • Strong financial position with cash & liquid investments of ₹ 36,201 crore
  • Contribution to the ex-chequer in FY 2018 at c. ₹ 33,000 crore
  • Vedanta Limited’s resolution plan to acquire Electrosteel Steels Limited approved by NCLT; this acquisition to complement the Group’s existing Iron ore Business by way of vertical integration

Operational Highlights for FY2018
  • Record annual production of refined zinc-lead and silver at Zinc India
  • Oil & Gas:
    • Mar 18 exit run rate of 200,000 boepd
    • Growth Projects on track with contracts of $1.3bn awarded
  • Zinc International : Gamsberg project on track to commence production by mid CY 2018
  • Aluminum: Record annual production at 1.7mt; with an exit run rate of c.2.0 mtpa
  • Copper India: Record annual production, Operations at Tuticorin Smelter under shutdown pending renewal of Consent to Operate (CTO)
  • Iron Ore: Expecting increase in company-wise mining cap allocation in Karnataka in Q1 FY2019; Goa mining operations shut due to state wide ban
  • Power: 1,980 MW Talwandi Sabo Power Plant operated at 93% availability in Q4 FY18

1. Excludes custom smelting at Copper India and Zinc India operations
2. Excluding repayment of temporary borrowing by Zinc India, preference shares issued pursuant to Cairn merger in April.
3. Before exceptional & before DDT

Mr. Navin Agarwal, Chairman Vedanta Limited, said, “FY2018 was a transformational year for Vedanta. The diversified, well-invested and low-cost portfolio of the company delivered industryleading volume growth during the year. The company’s financial profile continues to strengthen and provides a strong foundation for the next phase of growth through the attractive organic opportunities in each of our businesses. The company paid a record interim dividend of ₹ 7881 crore and contributed c. ₹ 33,000 crore to the exchequer in FY 2018. I am excited about the many growth opportunities for the company which will further enhance shareholder value.”

Mr. Kuldip Kaura, Chief Executive Officer, Vedanta Ltd, said, “I am pleased with the strong operational and financial results for Vedanta in FY17-18. Our volume ramp-up plans stayed on track, resulting in a significantly higher EBITDA for the year, despite challenges from input price inflation. We maintain a strong balance sheet and are committed to our capital allocation framework. I am pleased with the various initiatives undertaken during the year to drive operational excellence through use of innovative technology, benchmarking, people practices and HSE. In 2019, our focus is to generate strong cash flows on the strength of higher volumes and improved cost structure in our businesses which will further strengthen our financials and will drive superior shareholder returns.”

For more, download the full announcement: Consolidated Results for the Fourth Quarter and full year ended 31 March 2018.

For further information, please contact:

Communications
Arun Arora
Head Communications


Tel: +91 12 4459 3000
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Aarti Raghavan
VP – Investor Relations

Sneha Tulsyan
Associate Manager – Investor Relations

About Vedanta Limited

Vedanta Limited is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, aluminium, copper, iron ore and commercial power. The company has a presence across India, South Africa and Namibia. Vedanta Ltd has a portfolio of world-class, low-cost, scalable assets that consistently generate strong profitability and have robust cash flows. The company holds industry-leading market shares across its core divisions.
Vedanta Limited is the Indian subsidiary of Vedanta Resources Plc, a London-listed company. Governance and Sustainable Development are at the core of Vedanta's strategy, with a strong focus on health, safety and environment and on enhancing the lives of local communities. The company is conferred with the Confederation of Indian Industry (CII) ‘Sustainable Plus Platinum label’, ranking among the top 10 most sustainable companies in India. To access the Vedanta Sustainable Development Report 2017, please visit http://sd.vedantaresources.com/SustainableDevelopment2016-17/ Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange in India. The company is in the Nifty 50 Index and has ADRs listed on the New York Stock Exchange.

For more information please visit www.vedantalimited.com

Vedanta Limited
Vedanta, 75, Nehru Road,
Vile Parle (East), Mumbai - 400 099
www.vedantalimited.com

Registered Office:
Regd. Office: 1st Floor, ‘C’ wing, Unit 103,
Corporate Avenue, Atul Projects,
Chakala, Andheri (East),
Mumbai – 400 093
CIN: L13209MH1965PLC291394

Disclaimer

This press release contains “forward-looking statements” – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should” or “will.” Forward–looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.