Slide 1: Vedanta Limited Q2 FY2018 Results
Exhibit 99.4 Vedanta Limited Q2 FY2018 Results 2 November 2017 Elements for a Sustainable Future VEDANTALIMITED – OIL&GAS ZINC POWER ALUMINIUM IRONORE COPPER
Slide 2: Cautionary Statement and Disclaimer
Cautionary completeness, Resources this statements exchange competitive We assumptions invitation LIMITED caution context, rates or –plc by Statement you or Q2 forward- the inducement which could their and reasonableness regulatory and that FY2018 solicitation Vedanta prove nature metal may reliance
Slide 3: Contents
Contents 26 VEDANTA Section LIMITED Presenter–Page Q2 FY2018 StrategicRESULTS Update Kuldip PRESENTATION Kaura, CEO 4 3Financial Update Arun Kumar, CFO 9 Kuldip Kaura, CEO Business Review 17 Sudhir Mathur, Acting CEO— Cairn Oil & Gas Appendix
Slide 4: Strategic Update
Vedanta Limited Q2 FY2018 Results 2 November 2017 Strategic Update Kuldip Kaura Chief Executive Officer Value Creation
Slide 5: Sustainable Development and Safety
Sustainable initiated launched from 0.43 Certified 0.40 #17towards Platinum on lastDevelopment tailing/ yearvision while Green 0.31 ash of FY2012 management HZL Building –Zero Focused secured Harm, FY2013 VEDANTA on practices rank Zero Building FY2014 #11— Waste across LIMITED a95 FY2015 and Zero Na
Slide 6: Financial and Operational Highlights Q2 FY2018
production Financial: Q2 DDT EBITDA India FY2018 Contribution Excludes 392 5,776 371 Strong Aluminium Results 213 custom 4647 tofree Aluminium exchequer Highlights 4,965 cash smelting smelters flow Attributable of 457 Operations: continue at EBITDA c.Copper 397 Rs. 13,000 528 PAT2 ramp atand Record
Slide 7: A diversified portfolio with leading growth
A diversified O&G Precious Production CRU, on Tata FY2018 benchmark Steel India Company RESULTS Other and (2.5)% 2.2% resources JSW Tc/Rc Iron data Vedanta’s Gearing PRESENTATION Steel ore Peers forcompany 0.3% Vedanta Gearing include 30% Lead Sector 2017E with 2.2% Notes: isBHP calculated leading a
Slide 8: Capital Allocation and Shareholder Returns
CapitalGrow Sheet Target for Allocation: AA+ Existing rating Focus Businesses fromon- Shareholder minimum Announced 30%Returns pay dividend out World ofpolicy current classatassets AA Continued rating and operational (CRISIL) reductionAny of excellence gross investment Focus to deliver on opportunit
Slide 9: Financial Update
VEDANTA LIMITED Empowering Growth – Q2 FY2018 RESULTS PRESENTATION 8 CAPITAL MARKETS DAY, MARCH 2015 Vedanta Limited Q2 FY2018 Results 2 November 2017 Financial Update Arun Kumar Chief Financial Officer
Slide 10: Q2 FY2018 Financial Highlights
Q2 Financial FY2018 1,525 20% clarification Debt dividends Notes: of 34% Q1 Rs. and EPS and 1. issued crore Highlights temporary Excluding Q2 (Rs./share) orby FY asInd- 2018 stated EBITDA short- repayment AS 5.49 includes Q2 Transition term 4.86 FY2018 higher of borrowing 4.37 preference temporary 2
Slide 11: EBITDA Bridge Q2 FY2018 vs Q1 FY2018
EBITDA (41) Regulatory Jharsuguda Others Bridge Profit and (11)lower ZAR (Q2 Adjusted FY2018 & profitability NADVolume vs. 6 7,000 Q1 from Cost FY2018) 622 ancillary Others1 29 271 Q2Q2 business FY2018 6,000 FY18692 VEDANTA Premiums vs.100 Q15,776 FY2018 Commodity LIMITED 35 80 (In12 Rs.5,454 –Petro
Slide 12: Income Statement
Income business leveraging at amortisation After (1,386) clarification VEDANTA ZincTaxes India (1,384) Statement from the Attributable LIMITED issued Finance pursuant 2P balance (1,451) toDepreciation by 1P Cost to Ind- sheet –reserve (1,592) profit Q2 a Other judicial AS FY2018 during (before Trans
Slide 13: Net Debt
Net Debt Others NetforDebt Q2 FY2018 30th Jun (In 17 Rs. 30thcrore) Sep 1720,000 VEDANTA 19,024LIMITED 4,594 18,000 – Q2 1,448 FY2018 152 15,592 RESULTS16,000 PRESENTATION 134 14,000 12,000 13 FCF Post Capex Rs. 3280 crore 10,000 8,000 6,000 Net Debt CF from Operations WC Movements Capex Translation
Slide 14: Optimising capex and free cash flow
Optimising ($0.9bn+$0.2bn swing Optionality PRESENTATION in H2Capex Optionality optional 14 to Free drive Cash capex capex) Cash Flow includes compared Flow (pre- Generation capex capex) to original flexibility 1.3Prioritised 0.4guidance 0.8 for0.8 Lanjigarh capital 0.1 of $1.2bn 0.7 to 0.6 refinery
Slide 15: Gross Debt Reduction
Gross Debt 11,466 preference cr* shares during Reduction issued H1 FY2018 ofpursuant Rs. 11,466 HZLto temporary the Crore* Cairn since India borrowing March merger 2017 paid in April Consolidated downVEDANTA by Rs. 7,315 Gross LIMITED cr debt* during trend –H1 Q2 since FY2018 FY2018 March Strong RES
Slide 16: Financial Focus
Financial focus Focus on Delivering generating Priorities: oncash Strong savings flows shareholder program from ramp Cost returns up in of 1st/2nd while assetscontinuing quartile Optimization of cost to strengthen of curve opexacross Further Balance allenhance businesses Sheet Disciplined credit Div
Slide 17: Business Review
Vedanta Limited Q2 FY2018 Results 2 November 2017 Business Review Kuldip Kaura, Chief Executive Officer Sudhir Mathur, Acting CEO – Cairn Oil & Gas Operational Excellence
Slide 18: Zinc India
Zinc India expansion commenced; order 500t+ Expansion for FYsecond 2018 to Q2 Planned 1.2mtpa production FY2018 CoP mill(FY likely of MIC Results 2mtpa 2020) from to bybe shaft FY2020 VEDANTA capacity MIC in the toatstart range 219kt; on awarded, track LIMITED inofQ3 refined $900- RAM FY2019 targete
Slide 19: Zinc International
Zinc International capacity years, Construction Projects extend including driven mine schedule inmining the life by works next better by workshops Skorpion Q2 further 9- forFY2018 12 grades infrastructure months 3pitCivil years and Results 112following CoP footprint and extension progressing Signifi
Slide 20: Cairn Oil & Gas
Cairn brought production For peer Oilin company &Sept expected Gas2017; Q2Opex FY at4165 wells 2018 - Rystad kboepd; Results online Energy, upside currently Gross Nov from average Operating 2015 growth VEDANTA production projects cost RJatLIMITED waterflood to180,955 contribute boepd –operating Q2 f
Slide 21: Rajasthan and Other Oil & Gas Projects
Rajasthan: Venezuela Oil 40- submitted Aishwariya Central Polymer and 45 mmscfd Polymer Deep EOR to 14 Mangala EOR: JV Gas Norway 25 from Partner Facility 95 prospects. FDPProcessing Aishwariya November 12 approved Mangala Summary Kazakhstan Tendering Terminal 2017 Polymer by Infill ofOperating Phas
Slide 22: Aluminium
inputsCosts started, FY2018 $1850- bauxite Costs Aluminium PRESENTATION like 1900/t full allocation 4thcaustic ramp- Q2 COP Addition line: for FY2018 (in Under Q3 Aluminium up and 22$/t) by EBITDA FY2018 carbon evaluation Results Q3 28 1,857 FY2018 offset Costs given LMEPremium Record 28 Inspection
Slide 23: Power
Power Talwandi availability Impacted current resolvedchallenges by due with Q4toVEDANTA the Sabo EBITDA inshut domestic Power down margin LIMITED Limited coal of the ofsupply c.plant (TSPL) –Re.1/unit Q2by and FY2018 1,980 Working temporary Input MW RESULTS coal towards Thermal coal costshortage. be
Slide 24: Iron Ore and Copper India
Iron production in improved Q2 Goa FY2018 Orerealisations and operational inRESULTS Copper Q3 FY2018 at India Goa efficiencies PRESENTATION production Saleable Q2 FY2018 Net oreallocation: cost at Results Goa 24 of conversion inIron 5.5mtpa H2 Ore to beVolumes: lower atc. Goa 3mtq-& post o- Sales 2.
Slide 25: Strategic Priorities
Strategic Q2 FY2018Priorities RESULTS Production PRESENTATION Growth and25 Asset optimisation Optimise Capital Allocation and Maintain Strong Balance Sheet Protect and preserve our License to Operate Identify next generation of Resources VEDANTA LIMITED –
Slide 26: Appendix
Vedanta Limited Q2 FY2018 Results 2 November 2017 Appendix
Slide 27: Guidance
Guidance input 10kboepd will availability PRESENTATION becommodity substantially Segment Alumina: was 70%+ inflation 27 FY18e 1.3- lower Engaged 1.4mt Zinc- Comments withAluminium: guidance with Leadrespective Zinc- volume: due1.5- Lead toc.160kt State higher 1.6mt Integrated: Iron (excl. Zinc input
Slide 28: Project Capex Status
Project Aluminium 2746 68 Pit Total 62 11272 overrun 270 Skorpion Capex 102 Capex Sector Line expected Spent Refinery Flexibility 5:BALCO 2upSection to Capex be Conversion –Metals $120mn Korba- capitalised to Mar and II upto Spent 156 325ktpa Mining Zinc FY2018- 14in- Sector H1 142 Under Smelter Uns
Slide 29: EBITDA Bridge Q2 FY2018 vs Q2 FY2017
EBITDA Metal Currency and lower Premium Bridge Regulatory profitability (38) (Q2ZAR/NAD FY2018 Profit fromAdjusted ancillary vs.(14) Q2 Volume Iron FY2017) business. ore Cost (103) Q2 VEDANTA FY2018 Others 648 1,948 Q2 vs. LIMITED FY18 797 Q2 FY2017 185 Premiums –281 Q2Zinc 6,000 FY2018 Commodity In
Slide 30: Cash and Debt by Entity
Entity 16,698 1,928 and eliminations. Sesa717 Resources, 27,186 Wise 26,013 202Cash 515 Merged (25,258) 41,285 Fujairah 723 and 108 with Debt 2,114 Zinc Gold, 615 Vedanta (in International 39,171 10,417 Rs. andcrore) Limited Vedanta Cairn 207-30 India1 10,210 705 with Sept Limited’s (705) effect NA
Slide 31: Debt Maturity Profile
Strong FY2018 HZL competitively investments borrowing Credit FY2019 ofProfile priced Rs.40,206 ofFY2020 Rs.593 capital and Balance crore FY2021 crore market and and Sheet FY2022 undrawn instruments preference at VEDL FY2023 fund share toMaturity based refinance &ofLater Rs. lineProfile 3010 high of
Slide 32: Debt Breakdown
Debt Breakdown Note: shares 32 USD–INR: issued pursuant & Rs.Funding 65.3552 0.5 to Sources merger at 30 Sep Total Diversified 2017 consolidated Debt Funding Breakdown debt Sources 8.5(as Cash for of 30 and Term Sept Liquid Debt 2017) Investments of $5.7bn Debt breakdown (as6.2 of Net 30thas Debt Se
Slide 33: Segment Summary - Zinc India
Segment 192 Lead Financials without 25% MT numbers FY is for 2018. as 150 2161 –the compared Custom Royalty 28% are Summary period For 2250 (Inafter 194 H1, Rs. -1797 January ($/MT) -to adjusting crore, 386 this -–1921 - Zinc -25% would 252 - Refined except 3toMT 984 India 53% Silver March for be in
Slide 34: Segment Summary - Zinc International
Segment content- 20% PRESENTATION CoPBMM Summary – ($/MT) 20 16 34 –1470 Zinc 23%1446 International 18 38- 2% 35 8% 1690 Q2 Mined 1564 Q1 metal H1 1331 Production 18% content- ZincLisheen (in’000 LME Price tonnes, - - - -($/MT) - -or- Total as 2963 stated) 422255 39%13% change 31%322596 74 % change
Slide 35: Segment Summary - Oil & Gas
Segment 206,342 19,228 Ravva 21.5 ($/bbl) 23.0 3,885 52.1 - -7% Summary -6% 6% 45.9 Cambay 4,235 (boepd)* Financials 14% -–8% Oil 10,452 49.6 Average 4,131 &(In 50.9 Gas 9,877 Rs. 4,007 Q2 Daily 45.7 crore, 6% Q14,326 11% Gross 9,491 H1 except *OIL - Including 7% Operated 9,974 as AND Cambay stated)
Slide 36: Segment Summary - Oil & Gas (contd.)
Segment 196,629 153,238 DA 7% 9,974 44.8Oil 240.0 15,606 10,078 14,771 -Summary 167,699 12% 6%15,820 -Oil 1% Oil 16,736 -173,408 9% (US$/bbl) Oil –-Oil 1% -159,351 8,392 12% &16,988 189,873 Gas 8,304 16,053 45.1 156,278 (contd.) 16,293 41.8 1% - 15,408 9%7,887 8% 167,323 179,892 Q2 16,031 44.9 16,87
Slide 37: Segment Summary - Aluminium
Segment Production (MU) Aluminium 20,600 1,435 16% vs PRESENTATION 29kt 114,700 24% - 18,500 -in-Summary H1 -Aluminium 401 -317 -117,500 FY2017 11% - 296 Jharsuguda 294 37 –Aluminium 36% 8% Aluminium 103,200 Including CoP 352 352–1800 669 753 Jharsuguda(Rs. 14% CoP trial Q2 499 MW 541 Aluminum –Q1 r
Slide 38: Segment Summary - Power
Segment (85)% except 3.09 VEDANTA - 8% 564 as Summary stated) 2.71 657 LIMITED 2.77 1,497 Revenue –2.92 Power - –56% Q2 - 1431 5%BALCO Q2 FY2018 TSPL 1385 Q1 H1PAF 600 RESULTS 3% Particulars 733 MW (%) 2164 87% 132 PRESENTATION (in 549 77% 2567 million (76)% 13% - 16% 20% units) 551 EBITDA 682 54% 3
Slide 39: Segment Summary - Iron Ore
Segment 2.4 163 (18)% 300 372 Summary Karnataka (19)% –Financials 0.6 Iron0.5 Ore30% Particulars (In 0.4 Rs. 1.0 crore, 1.0 (inexcept million 3% Production asdry stated) metric of Revenue Saleable tonnes,542 or Ore Q2 490 1.2 Q111% 1.5 H1(14)% 687 as stated) 1229 3.2 1460 4.5 % change 4.7 - 16% (4)%
Slide 40: Segment Summary - Copper India
Segment (million Tc/Rc (US¢/lb) units) Summary 421.6 30 –(86)% 20.5 Copper 5% 30 India 20.8 34 9021.2 Q2 (62)% Q1 21.7 H1 Financials - 2% Production Copper (In Rs. (in LME ‘000 crore, Price tonnes, except ($/MT) or asas stated) 6349 stated) 4772 Revenue %33% change 6237 5662 % 4686 6013 change 33% 4
Slide 41: Segment Summary - Power (contd.)
Segment (IPP) BALCO 100MW (of Summary 41% is under 540MW – Power careBALCO and (contd.) maintenance 1200MW Power Generation since plant)26th 270MW Capacity May BALCO 2017– c. VEDANTA 9GW 274MW IPP:HZL LIMITED 3.6GW Wind CPP:5.1GW –Power Q2 FY2018 59%600MW 2*300MW RESULTS Jharsuguda BALCO PRESENTATIO
Slide 42: Sales Summary
Sales (DMT) 36 Rolled LIMITED 27 Summary 45 products - -12-–-Zinc Q2 - Total Sales FY2018 (kt) Concentrate 7Zinc volume 13 RESULTS 4(Refined+Conc) 4 6Q2 (MIC) Sales FY2018 PRESENTATION -7Busbar 21 7H1FY2018 kt13 193 and 15383 Total Billets 148 Q2 42 Zinc (kt) FY 268(Refined+Conc) 2017 73 190 125 Tot
Slide 43: Sales Summary (contd.)
SalesMW 154 Availability 549 270 2.23 VEDANTA 288 1156 2.01 Summary 201 -551 1.97 - LIMITED Sales -370 -MALCO TSPL2 -Sales Balco 134 volume Copper- volume 2.64 –600 0Q2 4H1 MW 2.83 25 FY2018 Q2 India 115 2.55 1.10 H1 FY 4Sales HZL Q1 RESULTS 2.51 H1FY 2.64Q2 Copper Wind 3.67 3.14 Q2 FY2018 BALCO 2.9
Slide 44: Group Structure
GroupJharsuguda) MW Power subsidiary Power Structure of Vedanta Copper Vedanta Aluminium (HZL) LtdResources VEDANTA 100% (Odisha (BALCO) Plcaluminium LIMITED 79.4%(Liberia) 50.1% –and Q2power Konkola FY2018 (1,980 assets) MW) Copper RESULTS Cairn (100 Vedanta MW) Oil PRESENTATION &Ltd Mines Gas*Mine
Slide 45: Results Conference Call Details
ResultsToll conference Kong confirmationNu PRESENTATION Conference free callnumber on For 45 November Call online Time) Details registration India 800Results 964 – 6:30 448 mber=5267915 conference PM UK (IST) – 1:00 call +91 PMReplay is22 (UK scheduled 3938 of Time) Conference 1017 atToll 6:30 2, 20