BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Systematix Research Report
Vedanta Ltd.’s Q1 FY22 consolidated Ebitda at Rs 98.7 billion (up 147% y-o-y, 9% q-o-q) was 7% below our estimates.
Strong operational performance by the aluminium and zinc international operations was offset by lower-than-expected margins at oil and gas, steel and zinc India operations.
After several years of limited capex, Vedanta has announced plans to-
increase its aluminium capacity from 2.1 million tonne to 2.8 million tonne,
raise steelmaking capacity from 1.5 million tonne to 3 million tonne and
increase oil output with a capex of $350 million.
Cash generation should remain elevated despite a step up in capex over the near-term, resulting in a likely surge in near-term dividend payout
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