Vedanta Ltd., released its consolidated results for the second quarter of FY26 on October 31, 2025, highlighting strong operational growth and record performance across major business segments, though the profit declined sharply year-on-year.
The company’s consolidated net profit stood at INR 1,798 crore (USD 202.5 million), down 59 per cent from INR 4,352 crore (USD 490 million) in the same quarter last year. The fall was largely due to a loss of INR 2,067 crore (USD 232.8 million), compared with gains of INR 1,868 crore (USD 210 million) in Q2 FY25.
Revenue, however, rose to INR 39,868 crore (USD 4.49 billion), up 5.9 per cent from INR 37,634 crore (USD 4.2 billion) a year ago.
EBITDA for the quarter also reached a record INR 11,612 crore (USD 1.3 billion), marking a 12 per cent year-on-year rise, supported by margin gains and steady operational efficiency. The EBITDA margin improved to 28.6 per cent, up from 26.11 per cent last year, reflecting tighter cost control. Vedanta’s net debt-to-EBITDA ratio improved to 1.37x, with its AA credit rating reaffirmed.
On a standalone basis, and excluding exceptional items, profit after tax increased 13 per cent year-on-year to INR 5,026 crore (USD 566 million), showing resilience in the company’s core operations.
Vedanta’s parent company, Vedanta Resources Limited, refinanced USD 550 million through a bond issue during the quarter. This reduced the average interest rate from 11.6 per cent to 10 per cent and extended the debt maturity period to 4.5 years.
Also read: Vedanta’s demerger takes a turn as SEBI nod meets NCLT hurdle
Aluminium business output
The aluminium segment posted its best-ever quarterly performance, with alumina production rising to 653kt — up 31 per cent year-on-year and 11 per cent quarter-on-quarter. Cast metal aluminium production reached 617kt, an increase of 1 per cent year-on-year and 2 per cent sequentially.
During the quarter, BALCO produced its first metal from India’s largest 525kA smelter, a key milestone in Vedanta’s capacity expansion journey. The company also achieved the first alumina output from Train II under its 3 MTPA expansion project at Lanjigarh, further reinforcing its position as one of India’s leading integrated aluminium producers.
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