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Vedanta Aluminium doubles down on value-added AL to cash in on India's EV drive

Livemint

Livemint · 11m ago

Vedanta Aluminium doubles down on value-added AL to cash in on India's EV drive

Vedanta Aluminium plans to increase the share of value-added aluminum products in its portfolio from 55% to over 90%. This move is part of the company's strategy to tap into India's growing construction and electric vehicle markets. The shift is expected to boost margins significantly. Vedanta Aluminium, a subsidiary of Vedanta Ltd, is the largest aluminum producer in India. The company aims to focus on high-margin, value-added products as it expects aluminum prices to rise in the medium to long term. The demand for aluminum is driven by the construction sector and the increasing adoption of electric vehicles in India. Vedanta Aluminium is also focused on manufacturing environmentally friendly, or green, aluminum and plans to increase its production capacity. The company is awaiting the completion of its demerger process to become an independent listed entity.

Related News

Vedanta expands alumina refining capacity to 3.5 mtpa

Money Control

Money Control · 1y ago

Vedanta expands alumina refining capacity to 3.5 mtpa

Vedanta Aluminium has commissioned a 1.5 million tonnes per annum (mtpa) facility at its alumina refinery in Lanjigarh, Odisha, expanding its capacity to 3.5 mtpa. The expansion is part of the company's efforts to become one of the top three aluminium producers globally. The new addition takes the refinery's nameplate capacity from 2 mtpa to 5 mtpa. Vedanta Aluminium, a subsidiary of Vedanta Limited, is India's largest producer of aluminium, generating over half of India's aluminium production in FY24. Vedanta Limited posted a 18.3% decline in net profit at INR 2,013 crore for Q3 FY24.

Vedanta aims to double Ebitda of aluminium business in FY26

Economic Times

Economic Times · 2m ago

Vedanta aims to double Ebitda of aluminium business in FY26

Vedanta aims to double the EBITDA of its aluminium business to $4 billion in FY26 by increasing value-added products and self-sufficiency in raw materials. Currently, contributing over 40% to Vedanta’s consolidated EBITDA, aluminium stands as its second-largest business after zinc. The company plans to expand aluminium capacity to 3.1 million tonnes and alumina refining to 6 million tonnes annually. Recent investments and strategic shifts will enhance profitability and margins in the aluminium division.

Vedanta to cut cost of financing to 8.5%, says company CFO Ajay Goel

Economic Times

Economic Times · 28d ago

Vedanta to cut cost of financing to 8.5%, says company CFO Ajay Goel

Vedanta plans to reduce its cost of financing by a percentage point to approximately 8.5% by year-end, CFO Ajay Goel stated. While facing a challenging commodity market, the company achieved a record first-quarter EBITDA, growing 5% to ₹10,746 crore. The focus remains on cost efficiencies, especially in its aluminium business, which now surpasses zinc in revenue and EBITDA contribution. Despite global uncertainties, Vedanta remains optimistic about India's steady economic growth.

Hindalco to invest Rs 45,000 Cr for aluminium, copper businesses over four years

YourStory

YourStory · 5m ago

Hindalco to invest Rs 45,000 Cr for aluminium, copper businesses over four years

Hindalco, part of the Aditya Birla Group, plans to invest ₹45,000 crore in aluminium, copper, and speciality alumina over the next three to four years, focusing on upstream operations. The initiative aims to enhance value-added products, doubling the downstream contribution to 30% of total profits. Funded by internal accruals, these efforts include renewable energy solutions and India's first Copper Foil facility for EVs, positioning Hindalco as a force for innovation and sustainability in various industrial sectors.

Five big concerns flagged by Viceroy Research in its 87-page report on Vedanta

Livemint

Livemint · 1m ago

Five big concerns flagged by Viceroy Research in its 87-page report on Vedanta

Viceroy Research's report criticizes Vedanta Resources Ltd for cash extraction from its subsidiary, Vedanta Ltd, citing excessive dividends and unexplained interest expenses. It highlights issues like lack of genuine expansion, internal governance problems, and significant legal challenges. The report portrays Vedanta Resources as a "parasite" dependent on the cash of its subsidiary, raising serious concerns about the company's financial and operational practices.

Vedanta to raise up to Rs 1,000 crore via debentures

Money Control

Money Control · 1y ago

Vedanta to raise up to Rs 1,000 crore via debentures

Mining conglomerate Vedanta Ltd has announced plans to raise Rs 1,000 crore (approximately $136 million) via the issuance of debentures. The company's directors have approved the allotment of 100,000 non-convertible debentures on a private placement basis. The funds will support Vedanta's operations across various sectors, including oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power, and glass substrate, with recent expansions into semiconductors and display glass. Vedanta Ltd is a subsidiary of Vedanta Resources Ltd and is known as one of the world's leading natural resources companies.

Greenhouse gas targets: 282 industrial units under obligation to reduce emissions - Greenhouse gas targets: 282 industrial units under obligation to reduce emissions BusinessToday

Business Today

Business Today · 4m ago

Greenhouse gas targets: 282 industrial units under obligation to reduce emissions - Greenhouse gas targets: 282 industrial units under obligation to reduce emissions BusinessToday

India's Environment Ministry has set greenhouse gas reduction targets for major polluting industries in aluminium, cement, pulp and paper, and chlor-alkali sectors for FY26 and FY27. Non-compliance requires purchasing carbon credits or paying penalties. This initiative kickstarts the domestic carbon market and trading system. It mandates industries like Vedanta and UltraTech to meet specific emission intensity targets, marking the first instance of quantified reduction goals per industry player in these sectors.

$3-bn debt reduction plan for Vedanta Resources

Thehindubusinessline

Thehindubusinessline · 1y ago

$3-bn debt reduction plan for Vedanta Resources

Vedanta Resources plans to reduce its debt by $3 billion at the holding company level by fiscal year 2027. The company aims to achieve this through brand fees and dividends from subsidiaries, as well as potentially monetizing its steel and iron ore assets. Vedanta Ltd, the subsidiary, will not take on additional debt. The promoters are also considering reducing their stake in Vedanta Ltd to generate more cash. The expected cash flow from brand fees and dividends over the next three years is $1.3 billion and $4.5 billion, respectively.

Gautam Adani has a new $5 billion business idea in mind | Company Business News

Livemint

Livemint · 9m ago

Gautam Adani has a new $5 billion business idea in mind | Company Business News

The Adani Group is set to invest $5 billion in India's metals business, expanding its reach beyond the cement sector. The conglomerate plans to focus on mining, refining, and production of copper, iron and steel, and aluminium over the next 3-5 years. This move will challenge existing players in the industry such as Vedanta, Hindalco Industries, and Tata Group. Adani aims to leverage its synergies with its renewable energy, transmission, logistics, ports, and infrastructure businesses to create an end-to-end ecosystem and control production costs. The company's investment in metals will support its green energy goals and reduce dependence on imports.

Vietnamese EV maker VinFast's third-quarter revenue more than doubles

Economic Times

Economic Times · 1y ago

Vietnamese EV maker VinFast's third-quarter revenue more than doubles

Vietnamese EV maker VinFast reported a significant increase of 159% in third-quarter revenue, attributed to higher car deliveries and partnerships with US dealers. The company plans to establish an assembly facility in India, taking advantage of the government's EV incentives. VinFast, backed by Vingroup, aims to expand its presence internationally, with India being its primary right-hand-drive market. The company experienced setbacks with a voluntary recall of its initial batch of vehicles delivered in the US but managed to deliver 10,027 EVs in Q3, resulting in a net loss of 15 trillion Vietnamese dong.

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