Vedanta Q3 Review - Sustaining Operational Gains As Market Prices Benefit: ICICI Securities
Signage for Vedanta Resources Ltd. is displayed at the company’s office building in Mumbai, India. (Photographer: Kanishka Sonthalia/Bloomberg)

Vedanta Q3 Review - Sustaining Operational Gains As Market Prices Benefit: ICICI Securities

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.

ICICI Securities Report

Vedanta Ltd. has reported in-line Q3 FY21 Ebitda of Rs 77.6 billion.

Inter-company loans to parent Vedanta Resources Ltd. stood at $956 million as at Q3 FY21-end (unchanged QoQ).

Management guided for reduction of intercompany loans as per repayment schedule. Also, all dividend received from Hindustan Zinc Ltd. need not be upstreamed, as per extant dividend policy and under special circumstances.

While Q3 FY21 was underpinned by strong operational performance, capital allocation remains uncertain.

FY21E capex will be lower than previously guided.

Click on the attachment to read the full report:

ICICI Securities Vedanta Q3FY21 Results Updat.pdf

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