Vedanta CFO Ajay Goel resigns

29 Mar 2023 , 12:18 PM

Vedanta Ltd has announced that Ajay Goel will be stepping down from his role of Chief Financial Officer on April 9 in order to pursue career opportunities outside of the organization.

According to a statement released by Vedanta, the company will disclose the particulars of the new appointee in the appropriate time frame.

At a juncture where credit rating agencies are heightening refinancing hazards for Vedanta Group’s bonds, Ajay Goel has decided to step down from his position as acting CFO. This comes as the group, spearheaded by Anil Agarwal, is grappling with reducing its balance sheet leverage.

Moody’s Investors Service recently revised Vedanta Resources’ corporate family rating (CFR) from B3 to Caa1, while maintaining a ‘negative’ outlook due to mounting debt maturities and elevated refinancing risks.

In recent news, Hindustan Zinc, a subsidiary of Vedanta, disclosed an interim dividend of Rs 26 per share. Additionally, on Tuesday, Vedanta declared its own interim dividend of Rs 20.50 per share.

At around 12.16 PM, Vedanta was trading 2.13% higher at Rs 280.10, against the previous close of Rs 274.25 on NSE. The counter touched an intraday high and low of Rs 282.40 and Rs 272.90 respectively.

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