Vedanta reports varying production outcomes in Q4

Vedanta Limited Sets New Production Records in FY24

Vedanta Limited, a global leader in the natural resources sector, has recently announced its production results for the fourth quarter and year ended March 31, 2024. The company has achieved significant milestones across its various business segments, demonstrating its operational excellence and commitment to growth.

In the aluminium segment, Vedanta’s Lanjigarh refinery produced 484 kilotons (kt) of alumina in Q4 FY24, representing an 18% year-on-year (YoY) growth and a 3% quarter-on-quarter (QoQ) increase. The company’s aluminum smelters achieved a production of 598 kt, up 4% YoY.

In Vedanta’s Zinc India business, mined metal production stood at 299 kt, up 11% QoQ, driven by a mix of improved mined metal grades and higher ore production across mines. Refined zinc production reached 220 kt, up 9% QoQ and 2% YoY, while refined lead production was at 53 kt, lower by 2% YoY and 5% QoQ. Silver production stood at 189 kt, up 4% YoY but lower by 4% QoQ.

Vedanta’s oil and gas segment recorded an average gross operated production of 117.8 kboepd in Q4 FY24. The company’s Rajasthan block recorded an average production of 97.8 kboepd, primarily due to the natural decline in the MBA fields, partially offset by infill wells brought online.

In the iron ore business in Karnataka, Vedanta achieved a saleable ore production of 1.7 million tonnes in Q4 FY24, up 13% YoY and 23% QoQ. The company’s pig iron production stood at 198 kt, up 6% YoY.

The steel segment saw Vedanta’s total saleable production at 343 kt in Q4 FY24, lower by 11% YoY, in line with lower hot metal production.

Annual results for FY24 were equally impressive for Vedanta. The aluminium business achieved a milestone with the Lanjigarh refinery producing 1,813 kt of alumina, while the smelters recorded the highest ever cast metal aluminium production of 2,370 kt. In the zinc segment, Vedanta’s Zinc India business delivered its best-ever mined metal production at 1,079 kt and refined metal production also reached new highs.

Vedanta’s oil and gas business maintained an average gross operated production of 127.5 kboepd in FY24, with the iron ore business achieving its highest ever annual saleable ore production of 5.6 million tonnes.

The company’s power segment demonstrated growth, with overall power sales increasing by 10% YoY to 16,325 million units in FY24. Vedanta’s Talwandi Sabo Power Limited (TSPL) plant achieved an 82% availability factor, ensuring a reliable power supply to its customers.

Vedanta’s record-breaking production results in FY24 are a testament to its operational excellence, innovation, and commitment to sustainable growth. The company’s focus on ESG principles and social responsibility positions it well to create long-term value for stakeholders and contribute to India’s economic development.