Q4 Update: Vedanta posts muted aluminium and refined metal production in March quarter

Vedanta Limited’s aluminium and refined metal production was mainly flat year-on-year and sequentially during the fourth quarter of FY23. However, it has touched record levels for the whole financial year 2022-23 (FY23).

Billionaire Anil Agarwal-led Vedanta announced its business update through an exchange filing on Monday, April 3. The company said that it has posted the “highest ever" aluminium production at 22.91 lakh tonnes during 2022-23, marginally up from 22.68 lakh tonnes from the previous fiscal.

Besides, the metal heavyweight’s high refined metal production rose 7 per cent to 10.32 lakh tonnes in the last fiscal. The company had produced 9.67 lakh tonnes of saleable metals, which include refined zinc, refined lead and silver integrated, in 2021-22, it said through a regulatory filing.

While it reported the highest ever quarterly refined metal production during January-March 2023 period at 26.9 lakh tonnes of saleable metals, up 3 per cent YoY and 5 per cent sequentially on account of better plant and mined metal availability.

The company termed refined metal production as a 'historic high' in the last financial year.

The production of zinc from international business rose 22 per cent year-on-year to 2.73 lakh tonnes, while its total production during January-March quarter increased by 14 per cent YoY to 6.3 lakh tonnes with better production both at Gamsberg and BMM, as per Vedanta’s filing.

In the oil & gas business, the company's average gross operated production across assets was at 1,42,615 and 1,37,034 barrels of oil equivalent per day (boepd) in FY23 and March quarter of the last fiscal, each fell by 11 per cent on-year basis, Vedanta further mentioned in its business update.

Vedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world’s leading natural resources companies spanning across India, South Africa and Namibia with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, Nickel, Aluminium & Power.

Shares of Vedanta on Monday closed nearly 3 per cent higher to Rs 282.4 per share on the BSE.