Anil Agarwal-owned mining conglomerate Vedanta Ltd. and its four demerged entities shared mixed business updates for the June quarter, with Vedanta Aluminium delivering standout growth alongside the power business, while the oil & gas segment faced headwinds. According to reports from CNBC TV18, the aluminium business posted its highest-ever quarterly aluminium production, with aluminium production increasing 5% year-on-year and 3% sequentially. The company's total power sales surged 38% from last year, led by the Meenakshi Energy asset, with sales nearly tripling from the previous year. However, gross oil and gas production fell 17% year-on-year and 4% sequentially, as all operating units reported production declines compared to last year.
As reported by CNBC TV18, Vedanta Aluminium emerged as the standout performer, posting its highest-ever quarterly aluminium production with aluminium production up 5% year-on-year and 3% sequentially. The company's alumina production increased 41% from last year, though it declined 6% compared to the March period. Production of Value Added Products (VAP) increased 14% year-on-year and 4% sequentially, showcasing the shift towards high-margin, downstream aluminium products. The aluminium business has been widely regarded as the group's most promising vertical, benefiting from strong global demand drivers such as EVs, renewables, and infrastructure.
According to CNBC TV18, Vedanta Power delivered strong performance with total power sales surging 38% from last year, led by the Meenakshi Energy asset, with sales nearly tripling from the previous year. The power business shares fell over 6% on Friday despite the positive results. In contrast, Vedanta Oil & Gas faced significant challenges, with gross oil and gas production declining 17% year-on-year and 4% sequentially as all operating units reported production declines. The oil & gas business shares fell over 4% following the quarterly results.
As reported by CNBC TV18, Vedanta Iron & Steel demonstrated mixed regional performance with total production increasing 4% year-on-year but falling 3% from the previous quarter. Odisha and Goa operations reported increased production, helping drive overall segment growth, while Karnataka saw production declines both sequentially and year-on-year. The stock had already doubled from its listing price in just 12 sessions before Friday's fall, with shares ending 5% lower after being locked in a 5% upper circuit earlier in the day. The segment's performance reflects the varied regional dynamics across the group's iron & steel operations.
Following the Q1 production updates, Vedanta Ltd shares were trading at ₹280 with -1.4% 5-day returns and -53% year-to-date returns, reflecting investor concerns about the demerger strategy. Among the demerged entities, Vedanta Aluminium was trading at ₹464 with 2.2% 5-day returns but -6.7% year-to-date returns, while Vedanta Iron & Steel showed strong performance at ₹39 with 24% 5-day returns and 92% year-to-date returns. Vedanta Oil & Gas was trading at ₹40.58 with 29% 5-day returns and 18% year-to-date returns, though it faced significant production challenges. Vedanta Power was at ₹44.69 with 10% 5-day returns and 11% year-to-date returns, while Hindustan Zinc traded at ₹540 with 1.8% 5-day returns and -12% year-to-date returns.
