Slide 1: Vedanta Limited Q3 FY2018 Results
Exhibit 99.4 Vedanta transforming elements Vedanta Limited Q3 FY2018 Results 31 January 2018 Elements for a Sustainable Future VEDANTA L I M I T E D – O I L & G A S | Z I N C | P O W E R | A L U M I N I U M | I R O N O R E | C O P P E R
Slide 2: Cautionary Statement and Disclaimer
Cautionary made of Vedanta events. looking or business, statements. those invitation LIMITED a number exchange assumptions asIn statements Resources tocompetitive or this –the Statement We of rates Q3 the inducement context, accuracy, assumptions caution FY2018 solicitation and could by plcor metal
Slide 3: Contents
Contents Q3 FY2018Section RESULTS Presenter PRESENTATION Page Strategic Update Kuldip Kaura, CEO 4 Financial Update Arun Kumar, CFO 11 Business Review Kuldip Kaura, CEO Sudhir Mathur, CEO - Cairn Oil & Gas 17 Appendix 27 3 VEDANTA LIMITED –
Slide 4: Strategic Update
Strategic ZINC POWER UpdateALUMINIUM Kuldip Kaura IRON Chief Executive ORE COPPEROfficer Value Creation Vedanta Limited Q3 FY2018 Results 31 January 2018 VEDANTA LIMITED – Q3 FY2018 RESULTS PRESENTATION VEDANTA LIMITED – OIL & GAS
Slide 5: Sustainable Development
Sustainable investigated economic under 2014 VEDANTA methodology the category risks Development LIMITED andfor lessons of group adopted “Industrial – learnt Q3 completed Safety from FY2018 areWater Third FY2016 being and RESULTS party Use implemented mitigation onwards Efficiency” Safety PRESENTATIO
Slide 6: Q3 FY2018 Results Highlights
Q3Copper ramp-up; Gamsberg EBITDA at 3% 2,036 LIMITED FY2018 Zinc Divisional 5% of production and on – Rs. Results Q3 9% track Zinc 6,780 FY2018 Oil EBITDA to India Highlights & up commence crore, Gas 40% RESULTS operations Zinc Aluminium up y-o-y Operations: 13% - India production with PRESENTATION
Slide 7: Clear priorities for capital allocation and shareholder returns
Well invested demand growthasset Clear base priorities delivering for capital growth allocation and shareholder and shareholder returns Consistent returns VEDANTA and successful LIMITED strategy– Delivering Q3 FY2018profitable RESULTS capacity PRESENTATION growth in attractive 7 commodities Uniquely
Slide 8: Strategic Framework
Strategic Framework Continued Disciplined PRESENTATION focus capital on8allocation asset Nearoptimisation Term - Opex Priority and andMedium capex cost efficiency efficiency Term Priority High - Sustainability quality (FY18-20) portfolio Deliver (FY20+) with superior Selectively attractive sharehold
Slide 9: Near Term Priority: Ramp-up and Design Capacity
Near Gamsberg Pb 750t Term Agproject Priority: 400kt 275-300 (250kt) Ramp-up and kboepd to Skorpion Design 2.3mtpit Capacity aluminium extension Zinc 800kt Various India20.5mt Zinc projects Intl. On track at OilRajasthan &for Gas ramp-up Aluminium - EOR, to tight expanded Copper oil, Gas capacity In
Slide 10: Medium Term Priority: Selectively Pursue Growth Options
Medium kboepd 300-500 Term Priority: Accompanied Selectively by continued Pursue Growth exploration Options Lanjigarh Zinc India alumina Zinc refinery Intl. Oil expansion & Gas Aluminium (6mt) Jharkhand Iron ore Expansion iron ore deposit of Zn-Pb (10mt) to 1.5mtpa VEDANTA Silver LIMITED production
Slide 11: Financial Update
Vedanta Limited Q3 FY2018 Results 31 January 2018 Financial Update Arun Kumar Chief Financial Officer Empowering Growth VEDANTA LIMITED – OIL & GAS ZINC POWER ALUMINIUM IRON ORE COPPER
Slide 12: Q3 Financial Highlights
Q3 (DDT) AvanStrate exceptional Gearing tax Rs. RESULTS Financial 946 crore 17%on PRESENTATION Inc., items Highlights 12% pursuant profits Japan &16% DDT) ofRs. tosubsidiaries. Notes: Higher acquisition crore EPS121.(Rs./share) EBITDA, orExcludes asHence of stated AvanStrate driven custom 5.86 the Q
Slide 13: EBITDA Bridge Q3 FY2018 vs Q2 FY2018
EBITDA Cairn Premiums 55 Others Bridge Commodity 26 (Q3135 FY2018 Profit 45 6,780 EBITDA vs. 936 Q2 FY2018) 511 Inflation 32 546 Q3Petroleum 91FY2018 6,324 5,776 VEDANTA vs. Q2Market FY2018 LIMITED & Regulatory (In Rs. –crore) Q3Rs.548 FY2018 Zinc & crore RESULTS LeadOperational 352 Brent PRESENTATI
Slide 14: Income Statement
Income Oil y-o-y vendor Finance 3,255 profit revised necessary & driven (before 2,862 Gas claim the Statement Cost tobusiness accounting exceptional conform by in (1,306) exceptional de-leveraging theDepreciation aluminum from (1,508) tofor the items 2P 1dividend 2,173 current to(1,427) and business
Slide 15: Net Debt
Net Debt for Reported PRESENTATION NetQ3 1stFY2018 Oct 15 17 Operations (In Rs. crore) Others 1 [VALUE] dividend16,295 by HZL15,592 31st Dec 4,968 17468 Debt 14,490 31st Dec 1,805 171Note 209 2,055 1: Rs. 1,134 1,010 FCF Cr isPost consideration Capex Rs.paid, 1779and crore Rs.795 Net Debt Cr isCF co
Slide 16: Financial Priorities
Financial Priorities: generating delivering on cash savings flowsMaintain program from ramp Strong Cost up in of Shareholder 1st/2nd assets Further quartile Returns enhance of cost and curve Balance credit across rating Sheet to allDisciplined AA+ businesses Continued Capital Dividend reduction Allo
Slide 17: Business Review
Vedanta LimitedIRON ALUMINIUM Q3 FY2018 ORE COPPER Results 31 January 2018 Business Review Kuldip Kaura, Chief Executive Officer Sudhir Mathur, CEO – Cairn Oil & Gas Operational Excellence VEDANTA LIMITED – OIL & GAS ZINC POWER
Slide 18: Zinc India
Zinc ore expected Appraisal be operations Zawar higher production India Kayad to than Committee Q3 atcommission Rampura Rajpura FY2018 Q3 run-rate dueofDariba to Agucha Results ofMoEF in higher 2mtpa; Q2Agucha FY2019 MIC mine Civil RAM shaft at Underground construction Khurd production 240kt; to Sit
Slide 19: Zinc International
Zinc International higher completion c.$1,700/t $400mn, crusher Gamsberg grades mechanical CoP due project byand expected to Q4early plant video: Q3 FY19;first erection FY2018 production at improvement https://tinyurl.com/ydfuama3 $1000-1150/t completed ore Results extracted from initiatives Total P
Slide 20: Cairn Oil & Gas
Cairn including 45 $250mn mmscfd Oil90% & EOR Liquid Gas foratQ3 development $6.4/boe handling FY2018 Production facilities Results incl. EOR, Gross upgrade to ramp-up tight average for oil1.2bn in &production Q4 gasbbls: as projects planned: Progress at 10% 184,133 15as ofinfill per exploration boe
Slide 21: Cairn Oil & Gas Projects
Cairn 2wells 300 Tight Project exploration 220- Rigs Oil O&G: IRR 300 &toGas of Execution be wells 250 over mobilized Projects 185- to 20% commence 250 ofeven 137 growth during 190 640 atFY18 $40/bbl in projects 45 Q4FY18 Q4FY18 Other FY19 per commenced Projects: Contract FY20 barrel ; contract FY18
Slide 22: Aluminium
Aluminium coal Ramp-up (325kt) and (80) 1,945elimination shortages, (126) 64fully 1,857 at224 Q3 1.25mt operational (237) high Commodity FY2018 of one-off Jharsuguda-II import (139) Results FY2018 impacts Cost alumina One-offs Cost Record Outlook smelter: ofprices in Hot power Q2 Aluminium Dep Alumi
Slide 23: Power
Power INR1/unit Low linkages coal delivery realisation TSPL and Other realisation (3 from xofIPPs 660 linkage Tranche BALCO MW) of coal backlogs III Record to 600MW: instart Q3quarterly Restrictions resulting in Q3 Feb’18 PLF plant inThird on of higher availability linkage 43%, Party coal higher coa
Slide 24: Iron Ore
Ironsold be Original Karnataka, Oreinproduction Q3 Q4 company FY2018 Realizations: allocation: wise Results allocation Beneficiation Total 5.5mtpa sales in progress at ofand Goa 1.8mt blending &Iron and 2.3mtpa Ore production increased Mine at Karnataka inrealisations of Goa 0.9mt Sanquelim Granted
Slide 25: Copper
Copper Tc/Rc in Q3 FY2020 for India CY2018 Q3 Tuticorin FY2018 at UscI 21.3/lb; Results Copper Volumes Smelter c.11% lower Construction Production than CY2017 atof101kt Tuticorin Tuticorin Q3 Tc/Rc’s II (400kt) II (400kt) at 20.8 VEDANTA Update c/lb Net EPCLIMITED CoP contract of Usc–awarded: 5.6/lb
Slide 26: Clear priorities for capital allocation and shareholder returns
Well invested demand growthasset Clear base priorities delivering for capital growth allocation and shareholder and shareholder returns Consistent returns VEDANTA and successful LIMITED strategy– Delivering Q3 FY2018profitable RESULTS capacity PRESENTATION growth in attractive 26 commodities Uniquel
Slide 27: Appendix
Vedanta Limited Q3 FY2018 Results 31 January 2018 Appendix VEDANTA LIMITED – OIL & GAS ZINC POWER ALUMINIUM IRON ORE COPPER
Slide 28: Guidance
Guidance to volume: TSPL VEDANTA earlyplant Zinc-Lead 16kboepd Segment availability: LIMITEDvolume: Cambay FY18e –c.Q3 75% Comments c.160kt Gross FY2018 3mtvolume: production extra RESULTS Zinc-Lead allocation 10kboepd from PRESENTATION Integrated: in Skorpion Alumina: Goa Mining 950kt Pit 1.2-1.3mt
Slide 29: EBITDA Bridge Q3 FY2018 vs Q3 FY2017
EBITDA 6,688 LME/ and lower 304 Brent Bridge profitability 128 / Input 6,780 (Q3Currency 41 FY2018 from Aluminum ancillary Profit vs. Q3356 Adjusted FY2017) business PowerVolume VEDANTA 48 Q3Cairn FY2018 Cost 30 & LIMITED Zinc vs.Mktg Q3 India FY2017 Others –12Q3 Iron Q3 (In FY2018 Ore FY18 Rs. (225
Slide 30: Entity-Wise Cash and Debt
Entity 42,711 (705) Vedanta subsidiary Q3 FY2018 -Wise 16,698 614 Limited of(614) Cash RESULTS Vedanta 26,013 55,218 BALCO and Debt Limited Standalone PRESENTATION 38,923 4,841 (in which Rs. 16,295 47 Cairn crore) 4,794 holds 55,798 India 31 30 4,647 50% Dec Holdings 40,206 of 82 2017 the 4,565 15,5
Slide 31: Strong Balance Sheet: Debt Maturity Profile
Strong FY2019 borrowings and RESULTS preference undrawn Credit FY2020 PRESENTATION and fund Profile share competitively FY2021 based of andRs.3,010 line Balance FY2022 of 31 priced credit crore Sheet FY2023 debt of Continued Maturity c.market Rs.3,800 & Later borrowings Profile focus Term crore on o
Slide 32: Debt Breakdown
Debt Breakdown Term shares 63.9273 debt issued at of 31$0.5 Dec 3.0bn 3.0 &2017 Funding pursuant at Standalone VEDANTA Sources to merger and LIMITED Diversified $2.4bn Total consolidated at – Funding Q3 Subsidiaries, FY2018 Sources debt RESULTS total 8.6for 55.2 consolidated Term Cash PRESENTATION D
Slide 33: Capital Allocation: Focus on Shareholder Returns
CapitalGrow Sheet Target VEDANTAfor Allocation: AA+ LIMITED Existing rating Focus Businesses from – Q3 on-FY2018 Shareholder minimum Announced RESULTS 30%Returns pay dividend PRESENTATION out World ofpolicy current classatassets AA Continued rating 33and operational (CRISIL) reductionAny of excellen
Slide 34: Financials Summary
CAPITAL (13)% Integrated Saleable 58,100 2,935 FY 9M FY2018 2017 it was 2,230 219 14% VEDANTA Silver &28.229 46 MARKETS 693 1,634 32% 63,300 39595 - 18% Custom Lead MT tonnes 16% 64,100 LIMITED 38 asLME DAY, compared Refined in 118 (in57,200 Q2 tonnes)- Price MARCH 94FY –26% Zinc Q3 ($/MT) 12% 2018.
Slide 35: Segment Summary – Zinc International
Segment content- 1,470 1,495 BMM Summary 1,412 21 15 6% – Zinc 36% ZincInternational 20 LME59 51 Price 17% ($/MT) Q3 Total Q2 47 9M 3,236 33Production 43% 2,5174229% 121 (in’000 2,963 115 6% tonnes, 2,935 Financials 2,230 or as 32% stated) (In Rs. Lead %Crore, change LMEexcept Price % change ($/MT)
Slide 36: Segment Summary – Oil & Gas
Segment 201,286 18,874 Ravva 33.6 Price(4)% ($/bbl) 3,797 (7)% (4)% Summary Financials Cambay 61.3 4,089 (boepd)* 49.3 (7)% – (In Oil 10,161 24% Average Rs. 3,885 & Gas 52.1 crore, 9,375 3,937 Q3 Daily 54.4 except 8% Q2 4,247 46.9 Gross 10,452 9Mas16% (7)% OIL stated) Operated 10,036 AND *Cambay Inc
Slide 37: Segment Summary – Oil & Gas (contd.)
Segment 191,674 2operated (7)% 10,452 14% 16,445 44.9 Oil 10,036 (4)% 157,096 Summary 13,095 14,273 47.6Oil 9,843 41.9 26% 16,389 154,272 175,911 –14% 2% Oil 15,606 (13)% Oil &2% 177,820 Gas 8,108 (US$/bbl) 16,344 153,238 14,771 (contd.) 7,811 (1)% 15,049 15,029 156,552 53.0 Q3 173,408 4%9% Q2 46.0
Slide 38: Segment Summary – Aluminium
Segment -Production 1,945 /MT) Aluminum in FY2018 - FY2017 - - 511- 124,200 1,429 RESULTS Summary Financials 2. Segment LME 445 36% Including 93,600 319 Price 1,857 –PRESENTATION 40% 609 Aluminium (In 33% ($/MT) 1,855 trial 651 Rs. 401 119,100 run crore, (6)% 1,198 1,452 2,102 production Q3457 excep
Slide 39: Segment Summary – Power
Segment 879 crore ex. VEDANTA TSPL (87)% except Summary 2.97 93LIMITED as768 2.77 stated) 2,376 –7% Power Revenue –2.85 (68)% Q3 Q3 FY2018 2.79 BALCO 1,724 Q22.85 9MRESULTS 1,532 (2)% Particulars 600TSPL 12% MWPRESENTATION 1,431 466 PAF (in million 660 (%) 3,888 (30)% 97% 4,099 units) 77%- 132 39(5)
Slide 40: Segment Summary – Power (contd.)
Segment (IPP) BALCO 100MW (of Summary 41% is under 540MW – Power careBALCO and (contd.) maintenance 1200MW Power Generation since plant)26th 270MW Capacity May BALCO 2017– c. VEDANTA 9GW 59% IPP: 274MW LIMITED 3.6GW HZLCPP:5.1GW Wind – Q3 Power FY2018 600MW 2*300MW RESULTS Jharsuguda BALCO PRESENTAT
Slide 41: Segment Summary – Iron Ore
Segment 3.0 7% 5.1 137(42)% 465 Summary 526 Karnataka (12)% – Iron Financials 0.8 Ore1.0 Particulars (20)% (In Rs. 0.6(in crore, 1.8million 2.0 except (8)% dryas Production metric stated)tonnes, Revenue of Saleable or Q3 843Q21,449 Ore9M 0.9 (40)% as2.6 stated) (64)% 542%2,104 1.2 change 5.4 2,990 7
Slide 42: Segment Summary – Copper India
Segment sales 5.0 22% (million Tc/Rc Summary units) (US/lb) –3Copper 46 20.8 (93)% 22.2 India 4(6)% 36 Q3136 Q2 21.6 (73)% 9M 21.1 Production Financials 21.9 (4)%(in (In Copper ’000 Rs. crore, tonnes, LME except Price or as($/MT) stated) as stated) 6,808 % change Revenue 5,277 %5,898 29% change 6,34
Slide 43: Sales Summary
Sales89 193 (Refined+Conc) (kt) 43 Total Summary 214Lead 43 104 (Refined+Conc) Sales 327390volume Total 26 83Value 31 Q3Lead ktFY2018 added 45 Concentrate 119products 36 9M91 FY2018 39(kt) (MIC) Total 189 Q3Zinc-Lead 14 499 FY2017 45123 9 30348 9M (kt) 12 167 Total FY2017 245Sales 702 Zinc-Lead Q2 2
Slide 44: Sales Summary (contd.)
Sales--(kt) Iron-Ore Rods MALCO MW LIMITEDSummary - -Sales -4 -3.07 42 -Balco – 29 Q3 139 TSPL 144 6.75 Q3 FY2018 48 600-Pig FY 5.75 156 2,512 MW9M Iron 46 RESULTS - HZL 2.48 FY 5,657 Jharsuguda (kt) Q3 2.35 Wind 171 1,792 FY PRESENTATION 2.11 459 power 9M 600 4,743 2.23 141 FY MW 3.75 2,582 Q2 511
Slide 45: Group Structure
Group assets) power entitiesStructure Unlisted Cairn Vedanta entities Oil & Note: Resources Gas*Shareholding Subsidiaries Plc Divisions as of on Vedanta of DecVedanta 31, Ltd2017 64.9% Limited *50% 51% 79.4% of100% the 50.1% share 100%inSesa Zinc the Iron RJInternational Block Ore Sterlite is held B
Slide 46: Results Conference Call Details
Results800 January Time) registration Conference India 964 mber=5267915 –448 6:30UK Call PM–Details (IST) 1:00 Replay PM +91 Results (UK of 22Conference 3938 Time) conference 1017 Toll31, Call free call 2018 Mumbai number is scheduled Toll 0Free (January 808number at101 6:30 31, 1573 PM 2018 1 800 T