Vedanta Limited · NSE:VEDL
Vedanta — Investor Presentation (May 2025)
22 slides from Vedanta's investor presentation, May 23, 2025
Slide 1: Corporate Presentation 2024-25
Corporate Presentation 2024-25
Slide 2: Executive Summary
Executive Summary 01 Strong Performance Track Record 02 Doubling Businesses 03 Capital Allocation Framework 2
Slide 3: Strong Performance Track Record
Strong Performance Track Record
Slide 4: Critical Mineral and Natural Resources Player with Global Footprint
Critical Mineral and Natural Resources Player with Global Footprint 15+ 60+ Market Leader in Commodities Markets India for Key Exposure Exposure Commodities INDIA LIBERIA EAST ASIA IRON ORE Glass PROJECT WESTERN CLUSTER INDIA (Iron Ore) MULTIPLE UAE Fujairah Gold NAMIBIA COPPER SCORPION MINE ALUMINI
Slide 5: Strong Operational Track Record
Strong Operational Track Record Zinc-Lead Silver Copper Aluminium Steel Power Iron Ore Oil & Gas Strong EBITDA Performance 1,800 In $ bn 1,600 5.2 Total Production Copper Equivalent (kt) 1,400 1,200 3.6 1,000 800 600 400 200 0.4 0 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014
Slide 6: FY25 Highlights
EBITDA PAT Revenue FY25 Highlights +37% YoY 1 +172% YoY +10% YoY 1 Strong Performance driven by structural operational ₹ 43,541 crore ₹ 20,535 crore ₹ 1,50,725 crore initiatives and strategic Second Highest-Ever EBITDA All time High Revenue actions focused on shareholder value unlocking Production R
Slide 7: ESG Leadership: Top Rank in the S&P's Global CSA 2024
ESG Leadership: Top Rank in the S&P’s Global CSA 2024 Integrating ESG through quality initiatives S&P Global Hindustan Zinc Vedanta Aluminium CSA 3% Aluminium 3% Diversified Metals & Mining peers Category Peers 6% (248 in numbers) (30 in No.) 30% 7% Total 350+ Rank (2024) 1st 2nd high impact 9% ESG
Slide 8: Demerger on Track to Unlock Shareholder Value
Demerger on Track to Unlock Shareholder Value Listed Business after Demerger; Vedanta Inc / VRL Vedanta Limited 56.4% 56.4% 56.4% 56.4% 56.4% Aluminum Power Oil & Gas Steel & Ferrous 4th Largest Aluminium Producer India’s 5th largest private India’s largest private sector One of the largest Indian G
Slide 9: Doubling Businesses
vedanta transforming for good Doubling Businesses
Slide 10: Fast Growing Business Portfolio of High-Quality Assets
Fast Growing Business Portfolio of High-Quality Assets Aluminium Vedanta Limited (HZL + ZI + FACOR) Zinc India Zinc International 2.4 → 2.85 → 3.1 1.1 → 1.2 325 → 500+ Smelting Capacity (MTPA) Smelting Capacity (MTPA) MIC Capacity (MTPA) (2.85 MTPA in FY26) (1.2 in FY27) (500+ by FY26) FACOR 2 → 5+
Slide 11: Long Life Reserves Base enabling growth
Long Life Reserves Base enabling growth FY2025 POSITIONING R&R Life1 Production Aluminium 25+ 2,422kt Strategically located large-scale assets with integrated power Zinc India 1,052kt 25+ Largest integrated zinc-lead producer Silver 25+ 687 tons 3rd largest silver producer globally Zinc Internationa
Slide 12: Capex Plan Under Implementation
Capex Plan Under Implementation Approved Unspent4 as on 31st Business Capex in Progress (In $ mn) Spent up to FY253 Capex2 Mar 2025 Jharsuguda: VAP capacity expansion and others 254 169 85 Mines: Coal & Bauxite Mines (Jamkhani, Radhikapur, Kurloi, 1079 162 917 Vedanta Aluminium Business Ghoghrapalli
Slide 13: Top Tier Positioning on Scale
Top Tier Positioning on Scale Global GlobalPositioning Positioning India Positioning Aluminium Volume (MTPA) Zinc Mined Metal Volume (MTPA) Leadership Across Respective Business 4.0 1,111 1,079 3.3 3.1 • Aluminium - largest producer in India 2.7 742 2.4 • Zinc - largest producer of Zinc-Lead- 500 Si
Slide 14: Global Cost Leadership
Cost Leadership Global Cost Leadership Business Aluminium Aluminium Zinc ZincIndia India ZincInternational Zinc International 1st quartile position 1st decile position 2nd quartile position Current in global aluminium cost curve in global zinc mine cost curve in global zinc mine cost curve Positioni
Slide 15: Capital Allocation Framework
Capital Allocation Framework
Slide 16: Targeting ~$10 Bn EBITDA and $5 Bn FCF
Targeting ~$10 Bn EBITDA and $5 Bn FCF Aluminium Zinc India Oil and Gas Iron & Steel Others Zinc Vol. 1.2 MTPA Iron Ore 30 MTPA Volume 3.1 MTPA Volume 150 kboepd ZI $ 0.3 bn Silver Vol. 800 tonnes Vol. EBITDA LME 2700 $/t Zn LME 3000 $/t Price 115 $t Brent Merchant 85 $/boe Power $ 0.4 bn 250 $/t Ir
Slide 17: Disciplined Capital Allocation Framework
Disciplined Capital Allocation Framework Capital Allocation Framework CAPITAL • Guiding Principles: Volume augmentation, cost reduction and EXPENDITURE creating value added products • Growth projects: minimum IRR of ~18% Key Strategic Priority • Minimum 30% of PAT (before exceptional) Optimize DIVID
Slide 18: Focused on Growth
Focused on Growth Capex ($Mn) ROCE1 (%) Growth Capex investment of ~ 10 bn over the last 10 years 30% 711 27% 667 725 23% 21% 377 19% 18% 697 15% 360 558 13% 172 47 11% 467 1,494 10% 1,409 1,220 1,083 816 814 803 785 667 499 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY16 FY17 FY18 FY19 FY20
Slide 19: Focused on Shareholders Return
Focused on Shareholders Return Dividend ($Mn) DPS (Rs/share) Dividend payout OF >$14 Bn (> ₹100,000 Cr) over last 8-9 years 3,751 102 2,246 2,244 1,989 45 44 1,223 1,058 1,002 30 19 21 19 504 205 10 159 4 4 FY18 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY2
Slide 20: Continuous Deleveraging
Continuous Deleveraging VedantaLimited Vedanta Limited VedantaVedanta Resources (Parent) Resources Near FY24 FY25 FY20 FY24 FY25 Med Term Term VEDL Group4 Net ND/EBITDA > 1.6x > 1.2x > ~1x Debt/EBITDA > 3.3x > 2.7x > 2x > 1x EBITDA to Net Debt Ratio1 Net Debt at VRL Standalone2 Debt maturity at VRL
Slide 21: Continuous Enhancement in Credit Rating
Continuous Enhancement in Credit Rating Vedanta Limited Vedanta Resources (Issuer Rating) S&P Global FITCH Moody’s Vedanta Current Rating BB BB Limited Ba2 BB- BB- Ba3 B+/stable B+/stable B1/stable CRISIL AA/Watch Developing/A1+ B+ B+ B1 B/stable B2 B B B2 B-/stable B-/+Ve ICRA AA/Watch Developing/A
Slide 22: Cautionary statement and disclaimer
Cautionary statement and disclaimer The views expressed here may contain information derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness, reasonableness or reliability of this information. Any forwa