Q3’26 witnesses Vedanta shares skyrocketing with the highest ever outputs

Image source: https://www.alcircle.com/

Vedanta Limited, the mine-to-market serving conglomerate, makes a milestone record as its share prices soar with the highest-ever aluminium, alumina, and zinc output in the third quarter (Q3) of the financial year 2025-2026. The trend remained steady with the Anil Agarwal-led Vedanta announcing an upward production update in the same quarter.

On January 2, the Vedanta shares closed at INR 616.95 per share on BSE, 2.45 per cent higher with a market capitalisation of INR 2.41 billion (USD 26.73 billion). The stock had touched an intraday low of INR 604 per share and an intraday high of INR 618.25 per share. 

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The quarter-on-quarter share trend

Vedanta shares consistently rose during Q1 and Q2 of FY 2025-2026. The closing price at the end of Q1 (April–June) was INR 460.85 (USD 5.11), which increased to INR 465.8 (USD 5.16) at the end of Q2 (July–September), a modest Q-o-Q rise of 1.06 per cent. By the end of Q3 (October–December), the share price reached INR 604.4 (USD 6.70), reflecting a substantial increase from the Q2 closing price.

The shares have been on a rising graph across Q3. There was an additional boost after the National Company Law Tribunal (NCLT) approved Vedanta's demerger plan on December 16, 2025. Under this, the conglomerate would be categorised into five separately listed firms. This is the breakdown of the major businesses of the parent company: Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Iron & Steel, and Vedanta Limited (Residual). 

Alumina and aluminium production in Q1, Q2 and Q3

Vedanta Ltd’s Q-o-Q record of Q1 and Q2 shows a significant rise in alumina production, from 587,000 tonnes to 653,000 tonnes, marking an increase of 11.25 per cent.

The company reported a strong performance in alumina and aluminium production for these two quarters, as well as Q3 of the financial year (FY26), including record levels of mined and refined metal output during the quarter.

Q3 alumina production reached a record quarterly high of 794,000 tonnes, up 57 per cent Y-o-Y. For the first nine months of FY26, alumina production increased to 2.03 million tonnes, highlighting a 32 per cent Q-o-Q surge.

According to Vedanta’s BSE filing released on Saturday, Vedanta achieved its highest-ever quarterly and nine-month alumina production at the Lanjigarh refinery. The company also posted record quarterly alumina output, supported by the commissioning of Train II at the Lanjigarh refinery and operational efficiencies at its Jharsuguda facility. 

Also read: Vedanta’s Lanjigarh refinery hits 5MTPA, India’s alumina capacity nears 13MTPA

Aluminium output, too, surged from 605,000 tonnes in Q1 to 617,000 tonnes in Q2, indicating a 1.98 per cent rise.

Similar improvement was reported in the sector of aluminium, Q3 reaching the highest-ever quarterly aluminium production at 620,000 tonnes, marking a 1 per cent Y-o-Y increase. For the nine-month period, aluminium output rose 1 per cent to 1.84 million tonnes.

Additionally, cathode production stood at 45,000 tonnes, up 1 per cent Y-o-Y and 12 per cent Q-o-Q, which sealed the highest quarterly cathode output record in the past seven years.

Increased operational efficiencies at Jharsuguda facility helped in the ramp-up of Vedanta Ltd’s nine-month capacity to 1.84 million tonnes in FY26 from the nine-month record of 609,000 tonnes in FY25. The cumulative of the three FY26 quarters is 1.84 million tonnes. As per the analysis by AL Circle, the estimated Q4 production would add up to the previous three quarters and produce approximately 2.45 million tonnes within the range of 2.4-2.5 million tonnes during the entire FY 2025-26, contributing approximately over 57 per cent to India’s present annual aluminium production of 4.5 million tonnes. 

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