Vedanta reports highest ever quarterly EBITDA of Rs13,768 crore; Stock rises near 1%

29 Apr 2022 , 09:16 AM

Vedanta Limited has announced its consolidated results for the Fourth Quarter and Full Year ended March 31, 2022.

Financial Highlights —

Q4FY22:

• Record consolidated quarterly revenue of Rs39,342 crore, up 41% yoy
• Highest ever quarterly EBITDA of Rs13,768 crore, up 51% yoy
• PAT (before exceptional and one-time tax credit) of Rs7,570 crore, up 48% yoy
• Net Debt at Rs20,979 crore, declined by Rs6,590 crore since Dec 31, 2021

FY22:

• All time high consolidated revenue of Rs131,192 crore, up 51% yoy
• Highest ever annual EBITDA of Rs45,319 crore, up 66% yoy
• Robust Industry leading EBITDA margin of 39%
• PAT (before exceptional and one-time tax credit) of Rs24,299 crore, up 95% yoy
• Free cash flow before capex Rs27,154 crore, up 69% yoy
• Strong double-digit ROCE at c.30%, ~1.6 times yoy
• Net Debt/EBITDA at 0.5x lowest in 5 years; net debt to equity at 0.25x
• Strong liquidity position with total cash and cash equivalent at Rs 32,130 crore
• Record dividend payout of Rs45/share; ~14% dividend yield
• Credit rating upgrade by both CRISIL and India Rating to AA with stable outlook

Shareholders value creation –
Vedanta has consistent track record of rewarding its shareholders with strong dividend pay-out. Last year we paid Rs45 per share amounting to Rs16,728 crore which translates into ~14% dividend yield one of the highest among peers in FY22 and had record total shareholder’s return. The board, in its meeting held today 28th April, has approved first interim dividend for FY23 of Rs 31.5 per share amounting to Rs11,710 crore. This is line with our robust performance on profitability and cash flows. This will also help the Vedanta group in deleveraging, in line with latest capital allocation policy.

Sunil Duggal, Chief Executive Officer, Vedanta, said “I am delighted to share record operational and financial performance for FY22. We have delivered historical best EBITDA of Rs45,319 crore and PAT (before exceptional and one-time tax credit) of Rs24,299 crore. This reflects our relentless focus on volume growth and operational efficiency, underpinned by structural integration and technology adoption.

The strong free cash flow (pre capex) of Rs27,154 crore has allowed us to reinvest for growth, further strengthen our balance sheet and continue our attractive dividend pay-out. As a part of our ESG Journey, we have signed an agreement for 580 MW renewable power distribution which brings us one step closer towards becoming a Net Zero Carbon organization. As we leap forward, we are committed to make Vedanta stronger through growth, vertical integration, operational efficiencies and renewed ESG purpose.”

On Friday morning trade, Vedanta stocks trading at Rs414.80 per piece higher by 0.77% on the BSE.