āagman

Not investment advice. Data and computed figures, for information only.

Vedanta Ltd

NSE: VEDLF&O
₹245.90
−₹4.10 (−1.64%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹1,03,234 Cr
CMP
₹245.90
52-wk High / Low
₹795 / 243
P/E
9.4
P/B
2.1
Book Value
₹127.0
Div Yield
12.90%
ROCE
16.0%
ROE
38.2%
Face Value
₹1
D/E
0.66

Price−49.0% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
7
/ 9
7 of 9 F-score tests passed
Graham Number
₹356
√(22.5 × EPS × book value per share)
ROIC
18.8%
vs 10.6% sector median
Cash flow to profit
1.57
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+798
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
0.0%
ROE × earnings retention ratio
ROE stability
9.7
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −1.66FII +1.85DII −2.60
Latest quarter vs the previous one
Cash-accrual divergence
−6.7%
of assets
Low = accruals track cash flow
Strengths
+Borrowings are down 51.4% since FY2016 (67778 to 32947)
+FII holding rose by 7.9pp over the last year
+Piotroski F-Score of 7/9 is in the strong band (≥7)
+PE of 9.4x is below the sector median of 19.8x
Watch-outs
−Price trades below its 200-day moving average (0.5x)
−Price is 69.1% below its 52-week high
−Annualised volatility of 110.9% is in the high band (≥45%)
−Promoter holding fell by 13.4pp over the last year

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales33,73338,94535,54135,50935,76437,63417,06316,68615,75418,74721,33724,60924,205
Expenses27,31327,46627,01026,74125,81927,80612,05011,44011,47813,83214,81617,05015,704
Operating Profit6,42011,4798,5318,7689,9459,8285,0135,2464,2764,9156,5217,5598,501
OPM %19.0%29.5%24.0%24.7%27.8%26.1%29.4%31.4%27.1%26.2%30.6%30.7%35.1%
Other Income2,3261,8637793859343,1683,2022,7712,7371,2484,4265,5033,166
Interest2,1102,5232,4172,4152,2222,6671,0731,0716091,033547694662
Depreciation2,5502,6422,7882,7432,7312,6961,2381,1911,1161,3031,2391,3321,192
Profit before tax4,0868,1774,1053,9955,9267,6335,9045,7555,2883,8279,16111,0369,813
Net Profit3,308−9152,8682,2755,0955,6034,8764,9614,4573,4797,8079,3527,918
EPS (₹)7.10−4.805.423.689.7011.139.078.918.144.6014.6017.1314.00

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales73,71064,26272,22591,86692,04884,44788,0211,32,7321,47,3081,43,72762,71778,43788,898
Expenses51,59582,74150,84966,98968,87763,70460,70387,9081,12,8771,08,41544,13955,25461,402
Operating Profit22,114−18,47921,37624,87723,17120,74327,31844,82434,43135,31218,57823,18327,496
OPM %30.0%−28.8%29.6%27.1%25.2%24.6%31.0%33.8%23.4%24.6%29.6%29.6%30.9%
Other Income−19,2224,2904,4236,0874,270−14,9322,7431,8322,6255,24112,73914,18614,343
Interest5,6595,7785,8555,1125,6894,9775,2104,7976,2259,4654,1972,8172,936
Depreciation7,1598,5726,2926,2838,1929,0937,6388,89510,55510,7234,2334,8105,066
Profit before tax−9,925−28,54013,65219,56913,560−8,25917,21332,96420,27620,36522,88729,74233,837
Net Profit−11,369−17,86211,31613,6929,698−4,74415,03223,71014,5037,53920,53525,09628,556
EPS (₹)−52.77−41.3923.4727.8219.01−17.9331.2150.5828.4511.4038.3344.4750.33

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital296296297372372372372372372372391391—
Reserves53,57943,74360,12862,94061,92554,26361,90665,01139,05130,35040,82149,261—
Borrowings77,75267,77871,56958,15966,22659,18757,66953,58380,32987,70691,47932,947—
Other Liabilities58,65480,16364,95258,89670,04566,91563,54974,98169,70369,69067,2491,49,712—
Total Liabilities1,90,2811,91,9801,96,9461,80,3671,98,5681,80,7371,83,4961,93,9471,89,4551,88,1181,99,9402,32,311—
Fixed Assets70,10867,23176,75680,27996,39788,90490,47093,46695,74498,96399,90530,548—
CWIP38,74838,46127,55732,05524,95918,58516,31415,87919,52922,88933,89610,531—
Investments39,60653,38646,96228,70033,06524,75316,66017,29113,15011,86914,53215,418—
Other Assets41,81932,90345,67139,33344,14748,49560,05267,31161,03254,39751,6071,75,814—
Total Assets1,90,2811,91,9801,96,9461,80,3671,98,5681,80,7371,83,4961,93,9471,89,4551,88,1181,99,9402,32,311—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity17,80520,37718,08317,36623,75419,30023,98034,96333,06535,65439,56239,499
Cash from Investing Activity−4,133−7,8682,68115,480−10,594−5,925−6,678−2,243−668−13,676−19,158−24,134
Cash from Financing Activity−13,956−11,303−12,425−39,255−10,242−15,547−17,565−28,903−34,142−26,092−19,223−13,549
Net Cash Flow−2841,2068,339−6,4092,918−2,172−2633,817−1,745−4,1141,1811,816

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %9.0−14.011.015.014.010.017.028.020.021.012.016.0
ROE %———————————38.2
EPS (₹)−52.77−41.3923.4727.8219.01−17.9331.2150.5828.4511.4038.3344.47
Book Value (₹)———————————127.0
Face Value (₹)———————————1
P/E———————————9.4
Div Yield %———————————12.90
NPM %−20.9−26.114.814.010.1−6.816.617.69.75.127.227.1
OPM %30.0−29.030.027.025.025.031.034.023.025.030.030.0
D/E1.441.541.180.921.061.080.930.822.042.852.220.66
P/B———————————2.1

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+2.0%
5 years−2.0%
3 years−19.0%
TTM+2.0%
Compounded profit growth
10 years+13.0%
5 years+8.0%
3 years+17.0%
TTM+37.0%
Stock price CAGR
10 years+14.0%
5 years+19.0%
3 years+48.0%
Last year+51.0%
Return on equity
10 years21.0%
5 years28.0%
3 years31.0%
Last year38.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters62.86%62.86%50.14%50.14%50.14%55.11%69.69%68.11%61.95%56.38%56.38%54.72%
FIIs16.30%16.30%18.05%16.45%15.18%16.27%9.35%7.89%8.77%11.15%13.93%15.78%
DIIs7.04%7.04%13.02%18.70%18.79%11.62%11.60%10.20%13.15%16.38%13.43%10.83%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.07%0.07%0.07%0.06%0.06%
Public13.67%13.67%18.54%14.31%15.51%16.67%9.13%13.63%15.86%15.89%16.05%18.45%
No. of shareholders3,35,4723,35,4724,94,9936,07,1627,31,3635,86,5577,43,58214,11,55117,85,79820,46,98821,10,60126,01,130
Change since Jun 2023 (pp)
Promoters −8.14FIIs −0.52DIIs +3.79Public +4.78

Documents

As of 11 Oct 2026
Announcements
Announcement under Regulation 30 (LODR)-Dividend UpdatesCorporate Action-Board approves DividendBoard Meeting Outcome for Outcome Of Approval Of BoardCompliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Closure of Trading Window
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Jul 2026PPTJul 2026RecordingJul 2026PPTApr 2026TranscriptApr 2026PPTApr 2026RecordingJan 2026TranscriptJan 2026PPTJan 2026RecordingNov 2025TranscriptNov 2025PPTNov 2025Recording

Corporate actions

As of 14 Oct 2026
14 Oct 2026DIVIDENDInterim Dividend - Rs 5 Per Share—
30 Apr 2026DEMERGERDemerger—
27 Mar 2026DIVIDENDInterim Dividend - Rs 11 Per Share—
26 Aug 2025DIVIDENDInterim Dividend - Rs 16 Per Share—
24 Jun 2025DIVIDENDInterim Dividend - Rs 7 Per Share—
24 Dec 2024DIVIDENDInterim Dividend - Rs 8.50 Per Share—
10 Sep 2024DIVIDENDInterim Dividend - Rs 20 Per Share—
2 Aug 2024DIVIDENDInterim Dividend - Rs 4 Per Share—
24 May 2024DIVIDENDInterim Dividend - Rs 11 Per Share—
27 Dec 2023DIVIDENDInterim Dividend - Rs 11 Per Share—
30 May 2023DIVIDENDInterim Dividend - Rs 18.50 Per Share—
6 Apr 2023DIVIDENDInterim Dividend - Rs 20.50 Per Share—
3 Feb 2023DIVIDENDInterim Dividend - Rs 12.50 Per Share—
29 Nov 2022DIVIDENDInterim Dividend - Rs 17.50 Per Share—
26 Jul 2022DIVIDENDInterim Dividend- Rs 19.50 Per Share—
6 May 2022DIVIDENDInterim Dividend - Rs 31.5 Per Share—
9 Mar 2022DIVIDENDInterim Dividend—
17 Dec 2021DIVIDEND Interim Dividend - Rs 13.50 Per Share—
8 Sep 2021DIVIDEND Interim Dividend - Rs 18.50 Per Share—
28 Oct 2020DIVIDEND Interim Dividend - Rs 9.50 Per Share—
5 Mar 2020DIVIDEND Interim Dividend - Rs 3.9 Per Share—
13 Mar 2019DIVIDEND Interim Dividend - Rs 1.85 Per Share—
6 Nov 2018DIVIDEND Interim Dividend - Rs 17 Per Share—
20 Mar 2018DIVIDEND Interim Dividend - Rs 21.20 Per Share (Purpose Revised)—
11 Apr 2017DIVIDEND Interim Dividend Rs 17.70 Per Share —
7 Nov 2016DIVIDEND Interim Dividend Rs 1.75 Per Share (Purpose Revised)—
30 Oct 2015DIVIDEND Interim Dividend - Rs 3.50/- Per Share—
6 Jul 2015DIVIDENDAnnual General Meeting/ Dividend - Rs 2.35/- Per Share—
3 Nov 2014DIVIDENDInterim Dividend Rs.1.75 Per Share (Purpose Revised)—
4 Jul 2014DIVIDENDAnnual General Meeting / Final Dividend - Rs 1.75/- Per Share—
6 Nov 2013DIVIDENDInterim Dividend - Rs.1.50/- Per Share (Purpose Revised)—
31 May 2013DIVIDENDAnnual General Meeting/Dividend Re.0.10/- Per Equity Share—
8 Jun 2012DIVIDENDAnnual General Meeting And Dividend Rs.2/- Per Share—
1 Feb 2012DIVIDENDInterim Dividend Rs.2/- Per Share (Purpose Revised)—
30 Jun 2011DIVIDENDDividend-Rs.3.50 Per Share—
2 Jul 2010DIVIDENDDividend-Rs.3.25 Pr Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman