In-line operational performance; higher tax outgo leads to miss on APAT

Company
26 Apr 2024
5 Min read 
  • Vedanta's 4QFY24 results update includes sector, estimate, TP, and rating changes.
  •  The company reported in-line operational performance but missed on APAT due to higher tax outgo.
  •  Vedanta's net debt declined to ~INR563b from INR625b in 3QFY24, with net debt/EBITDA at 1.5x in 4QFY24.
  •  The company aims to achieve an EBITDA of USD20b+ over the next three years.
  •  Vedanta's aluminum CoP reduced for the seventh consecutive quarter, reaching USD1,711/t in 4QFY24.
  •  The company's steel asset sale is still under consideration, with regulatory and environment clearances pending.
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