Vedanta Ltd. reported in-line Ebitda of Rs 90.4 billion (our estimate: Rs 93.6 billion), up 17% QoQ, primarily due to higher Ebitda in aluminium, Zinc-India and iron ore and improved earnings in other business segments except power and copper.
Vedanta Ltd Q4 Outlook
Excluding Hindustan Zinc Ltd., Ebitda stood at Rs 51.9 billion, up 17% QoQ.
After Zinc India (~43% of total in Q4), aluminium continues to be the major contributor (~30% of total versus 27% in Q3) to Ebitda.
The ramp up in volumes, cost efficiencies and higher commodity prices to boost earnings (Ebitda compound annual growth rate of 22% over FY21-23E to Rs 406.2 billion).
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(By Centrum Broking Report)
