Highlights 2017-18

Financial highlights

  • Revenue increased by 22% to ` 92,923 crore (FY2017: ` 76,171 crore) driven by firmer commodity prices and volume ramp-ups
  • EBITDA at ` 25,470 crore, up 19% (FY2017: ` 21,437 crore)
  • Robust adjusted EBITDA margin of 36% (FY2017: 39%)
  • ROCE improved by 2.5% to 17.5% (FY2017: 15%)
  • Free Cash Flow (FCF) post capex of ` 7,880 crore (FY2017: ` 13,312 crore)
  • Gross debt at ` 58,159 crore (FY2017: ` 71,569 crore), a reduction of ` 8,512 crore in 12 months (excluding repayment of temporary borrowing by Zinc India and preference shares issued pursuant to the Cairn India merger in April 2017)
  • Net debt at ` 21,958 crore (FY2017: ` 8,099 crore)
  • Strong financial position with cash and liquid investments of ` 36,201 crore
  • Crisil upgraded the Company’s Rating (CFR) from ‘AA/Stable’ to ‘AA/Positive’
  • Vedanta Limited announced a record interim dividend of ` 7,881 crore in March 2018
  • Contribution to the exchequer of c. ` 33,000 crore in FY2018
  • Vedanta Limited’s resolution plan to acquire Electrosteel Steels Limited approved by NCLT; the acquisition, subject to completion of due processes, will complement the Group’s existing Iron Ore business through vertical integration

Business highlights

Oil & Gas

  • March 2018 exit run-rate of over 200 kboepd
  • Growth projects on track with contracts of US$1.3 billion (gross) awarded

Zinc India

  • Record annual production of refined zinc-lead at 960 kt
  • Record annual production of refined silver at 558 tonnes
  • On track for ramp-up of mined metal to 1.2 mt by FY2020

Zinc International

  • Annual production in line with guidance
  • Gamsberg project on track with production expected by mid-CY2018

Iron Ore

  • Mining cap allocation for Karnataka increased from 2.3 mt to 4.5 mt
  • Goa mining operations shut due to state-wide ban

Copper India

  • Record annual production

Aluminium

  • Record annual production at 1.7 mt, with an exit run-rate of c. 2.0 mtpa

Power

  • 1,980 MW Talwandi Sabo power plant achieved 93% availability in Q4 FY2018 (FY2018: 74%)

Consolidated results

(` crore, unless stated)

FY2018 FY2017 % change
Net Sales/Income from Operations 92,923 76,171 22%
EBITDA 25,470 21,437 19%
EBITDA Margin1 (%) 36% 39% -
Profit before Depreciation and Taxes 22,955 20,058 14%
Profit before Exceptional Items 16,672 13,766 21%
Profit After Taxes 13,692 11,319 21%
Profit After Taxes (before Exceptional Items) 12,869 11,467 12%
Profit After Taxes (before Exceptional Items & DDT) 11,333 11,663 (3)%
Attributable PAT after Exceptional Items 10,342 6,958 49%
Attributable PAT (before Exceptional Items) 9,561 7,127 34%
Attributable PAT (before Exceptional Items & DDT) 8,025 7,323 10%
Basic Earnings Per Share (`/share) 28.30 23.47 21%
Basic EPS before Exceptional Items (`/share) 26.17 24.04 9%
Basic EPS before Exceptional Items & DDT (`/share) 21.96 24.70 (11)%
ROCE (%) 17.5 15.0 17%
Total Dividend (`/share) 21.20 19.45 9%

1. Excludes custom smelting at Copper India and Zinc India operations.

2. Previous period figures have been regrouped/rearranged wherever necessary to conform to current period presentation.

Revenue

(` crore)

EBITDA

(` crore)

Return on Capital Employed (ROCE)

(%)

Dividend

(` per share)