Vedanta Q4 Results 2022: Highest EBITDA in March quarter; management trains its focus on nickel, cobalt mining - full report!

Vedanta demonstrated the highest earnings before interest, taxes, depreciation, and amortization (EBITDA) results in the March results, which stood at around Rs 10000 crore. The company has been performing positively for the last two years and has done an impairment of Rs 17000 crore, Zee Business’ Research Analyst Ashish Chaturvedi tells in this report.

There has been a major turnaround in the last two years in the company, he said adding that Vedanta is now focused on lowering the power consumption cost. Based on Zee Business’ interactions with the management of the company, Vedanta is going to continue its focus on aluminium. The management is very confident with respect to the outlook. The Q4FY22 results on the revenue and margins front were far beyond industry expectations. 

The best thing about Vedanta is that it keeps giving significant dividends, he added. The company has given a dividend of Rs 81.5 per share for the last 2 years. Additionally, the company announced a dividend of Rs 31.5. The company gave a dividend of Rs 13 in March 2022, Rs 13.5 in December 2021, Rs 18.5 in September 2021 and before that, Rs 9.5 in 2021.

The company had posted a profit after tax of Rs 5,105 crore in the year-ago period, Vedanta said in a statement.

The exceptional items at Rs 336 crore in last quarter primarily relate to Rs 2,697 crore gain from impairment reversal in oil and gas, which was partially offset by exploration cost written off in Cairn.

The company's revenue from operations in the period under review rose to Rs 39,342 crore from Rs 27,874 crore a year ago. Its expenses stood at Rs 29,901 crore in the quarter against Rs 22,549 crore in the year-ago period.

"Achieved highest ever consolidated EBITDA of Rs 13,768 crore in 4QFY22. This 51 per cent y-o-y and 26 per cent quarter-on-quarter (Q-o-Q) growth was mainly due to higher sales volume, supportive commodity prices and operational efficiencies despite higher Cost of production amidst input commodity inflation," Vedanta said.

Vedanta Limited, a subsidiary of Vedanta Resources Limited, has operations in sectors like oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium and power across India, South Africa and Namibia.

The company further said its production of zinc in India achieved the highest-ever mined metal production of 295-kilo tonne during the fourth quarter.
ESL Steel Limited commenced commercial production in Mar 2022 from two recently acquired iron ore mines in Orissa. The steel company produced a record annual hot metal of 1,355-kilo tonne since the acquisition, it added.
For iron ore mining operations in Goa, which are at a halt at present, Vedanta said it is "continuously engaging with the state and Central governments for earliest resumption of mining".
For the entire 2021-22, the company posted a PAT of Rs 24,299 crore, which was Rs 12,446 in the preceding financial year.
"The strong free cash flow of Rs 27,154 crore has allowed us to reinvest for growth, further strengthen our balance sheet and continue our attractive dividend pay-out," Sunil Duggal, Chief Executive Officer, Vedanta, said.
He further said, "(In FY22) we have delivered historical best EBITDA of Rs 45,319 crore and PAT (before exceptional and one-time tax credit) of Rs 24,299 crore. This reflects our relentless focus on volume growth and operational efficiency, underpinned by structural integration and technology adoption".

The management is continuously working on expanding its business in the mining of nickel and cobalt.  

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