Vedanta’s shares reach all-time high following Q4 production update- Republic World

Vedanta Limited, led by Anil Agarwal, has announced its production update for the fourth quarter and fiscal year ending March 31, 2024, showcasing impressive performance across various segments. The market responded positively to the news, with Vedanta Ltd’s shares soaring by 4.58% to a record high of Rs 312.50 on the NSE.

In the Aluminium segment, Vedanta saw a 4% year-on-year increase in alumina production at its Lanjigarh refinery, reaching 484 kt. Additionally, cast metal aluminium production at its smelters grew by 4% year-on-year, totaling 598 kt.

Zinc India reported an 11% quarter-on-quarter surge in mined metal production, attributed to improved grades and higher ore production. However, total zinc production witnessed a significant 47% year-on-year decline.

The Zinc International segment recorded a 20% quarter-on-quarter and 47% year-on-year decrease in production, mainly due to lower zinc grades at Gamsberg.

In the Oil & Gas sector, average gross operated production across assets averaged 117.8 kboepd, with Rajasthan block’s production down by 6% quarter-on-quarter and 13% year-on-year.

Iron Ore production in Karnataka surged by 13% year-on-year and 23% quarter-on-quarter, while pig iron production grew by 6% year-on-year.

Overall, Vedanta’s performance was strong across various segments, with the Steel division achieving its highest-ever annual production and the Ferro Alloy & Others segment showing significant fluctuations. The company’s consistent growth and efficient operational strategies have been highlighted in this latest production update.