Vedanta Q4 Results Review - Inline; Higher Tax Outgo Leads To Miss On APAT: Motilal Oswal

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Vedanta Ltd. reported consolidated net sales of Rs 355 billion, down 6% YoY, in line with our estimates. Vedanta’s consolidated Ebitda came in at Rs 87.7 billion (down 7 % YoY), in line with our estimate of Rs 85 billion. Ebitda was supported by higher volume and structural cost-saving initiatives across businesses, partially offset by muted revenue during the quarter. .In Q4 FY24, the Ebitda margin was lower by ~25 basis points YoY to 24.5% as compared to 24% in Q3 FY24. Adjusted profit after tax for the quarter stood at Rs 16 billion (down 50% YoY) and was 16% lower than our estimate of Rs 19 billion. Lower ‘other income’ and higher tax outgo adversely impacted APAT.Vedanta’s net debt stood at ~Rs 563 billion (down from Rs 625 billion in Q3 FY24) and net debt/Ebitda stood at 1.5 times in Q4 FY24..During FY24, revenues declined 6% YoY to Rs 1,390 billion, while Ebitda registered a decline of 12% YoY to Rs 304 billion. APAT during the year stood at Rs 49 billion, down 53% YoY. The net sales of the aluminum segment came in at Rs 124 billion (YoY/QoQ: flat /+2%). The reported Ebitda stood at Rs 30 billion (YoY/QoQ: +61% / +4%) on account of sustained cost reduction for seventh consecutive quarter, reaching $1,711/tonne in Q4 FY24 (down ~$940/tonne in the last seven quarters). Vedanta commissioned train-I Lanjigarh refinery of 1.5 million tonnes per annum, taking the total capacity to 3.5 mtpa as of Q4 FY24..Click on the attachment to read the full report:.Vedanta Q4 Results: Profit Falls 27.4%, But Beats Estimates.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Vedanta Q4 Results Review - Inline; Higher Tax Outgo Leads To Miss On APAT: Motilal Oswal

Vedanta performance in Q4 FY24 came largely as anticipated across segments.

Choose a plan