Media Kit

Media Kit
 
  • Corporate Headquarters
    16 Berkeley Street
    London W1J 8DZ
    Telephone: +44 20 7499 5900
    Facsimile: +44 20 7491 8440

  • Geographical Locations
    United Kingdom
    India
    Zambia
    South Africa
    Namibia
    Ireland
    Australia

  • Number of Employees
    Over 67,000

  • Principal Officers
    Anil Agarwal, Executive Chairman
    Navin Agarwal, Deputy Executive Chairman
    Kuldip Kaura, Interim Chief Executive Officer

  • Primary Exchange Listing
    London Stock Exchange
    Bloomberg Ticker VED LN

Full Year Results For The Year Ended 31 March 2018

Consolidated Group Results

FY2017-18

FY2016-17

FY2015-16

FY2014-15

Revenue

15,359 11,520.1 10,737.9 12,878.7

EBITDA1

4,051 3,191.1 2,336.4 3,741.2

EBITDA Margin

26% 27.7% 21.8% 29.1%

EBITDA margin excluding custom Smelting2 (%)

35% 36.5% 27.6% 38.0%

Operating profit before special items

2781 2,160.6 881.2 1735.5

Loss attributable to equity holders

236 (22.7) (1,837.4) (1,798.6)

Underlying attributable profit/ (Loss)4

162 3.0 (364.1) (38.9)

Basic loss per share (US cents)

84.8 (8.2) (665.8) (654.5)

Profit/Loss per share on underlying profit (US cents)

58.3 1.1 (131.9) (14.2)

ROCE (excluding project capital work in progress and exploratory assets and impairment charges) (%)

14.9% 15.6% 6.2% 8.7%
Total Dividend (US cents per share) 65 55.0 30.0 63.0

1. Earnings before interest, taxation, depreciation, amortisation/impairment and special items.
2. Excludes custom smelting revenue and EBITDA at Copper and Zinc India operations as custom smelting has different business economics.
3. Free cash flow is cash flow arising from EBITDA after net interest, taxation, sustaining and capital expansion expenditure, movements in capital creditors and working capital movements.
4. Based on profit for the period after adding back special items and other gains and losses, and their resultant tax and non-controlling interest effects.


Financial Highlights

  • Revenue increased by 33% to US$15.4 billion (FY2017: US$11.5 billion) driven by firmer commodity prices and volume ramp-ups
  • EBITDA at US$4.1 billion, up 27% (FY2017: US$3.2 billion)
  • Robust adjusted EBITDA margin◊ of 35% (FY2017: 36%)
  • Underlying profit◊ per share of US cents 58.3 (FY2017: US cents 16.1 per share)
  • Basic earnings per share of US cents 84.8 (FY2017: a loss of US cents 8.2), mainly due to higher EBITDA and reversal of a previously recorded non-cash impairment charge at Oil & Gas. This was offset by a non-cash impairment charge at Iron Ore Goa
  • ROCE◊ improved by 2.1% to 14.9% (FY2017: 12.8%)
  • Free cash flow (FCF)◊ post-capex of US$0.9 billion (FY2017: US$1.5 billion)
  • Gross debt at US$15.2 billion (FY2017: US$18.2 billion), a reduction of US$3 billion in 12 months (including repayment of $1.2 billion of temporary borrowing at Zinc India)
  • Net debt◊ at US$ 9.6 billion (FY2017: US$ 8.5 billion)
  • A proactive refinancing of US$2.4 billion through a bond issuance and bank loans improved average maturity at Vedanta Resources plc to about four years at March 2018 (March 2017: approx. three years)
  • Moody’s upgraded the Corporate Family Rating (CFR) by one notch from ‘B1/Stable’ to ‘Ba3/Stable’
  • Final dividend announced of US cents 41 per share (total dividend of US cents 65 per share), with a yield of 6%
  • Vedanta Limited announced a record interim dividend of c. US$1.2 billion in March 2018, of which c. $600 million was received by Vedanta Resources plc and used for deleveraging
  • Contribution to the exchequer of US$5.4 billion in FY2018
  • Vedanta Limited’s resolution plan to acquire Electrosteel Steels Limited approved by NCLT, the acquisition, subject to completion of due processes, will complement the Group’s existing Iron Ore business through vertical integration.

Business Highlights

  • March 2018 exit run-rate of over 200kboepd
  • Growth projects on track with contracts of US$1.3 billion (gross) awarded

Zinc India

  • Record annual production of refined zinc-lead at 960kt
  • Record annual production of refined silver at 17.9 million ounces
  • On track for ramp-up of mined metal to 1.2mt by FY2020

Zinc International

  • Annual production in line with guidance
  • Gamsberg project on track with production expected by mid-CY 2018

Iron Ore

  • Mining cap allocation for Karnataka increased from 2.3mt to 4.5mt
  • Goa mining operations shut due to state-wide ban

Copper India1

  • Record annual production

Copper Zambia

  • Annual mined metal production at 91kt, 3% lower y-o-y
  • New contractor-partnering model getting into place

Aluminium

  • Record annual production at 1.7mt, with an exit run-rate of c.2.0mtpa

Power

  • 1,980MW Talwandi Sabo power plant achieved 93% availability in Q4 FY2018 (FY2018: 74%)

Sustainability highlights

  • 2.21 million beneficiaries of our community investment
  • US$ 17.63 million invested in community development
  • 0.39 lost time injury frequency rate
  • US$ 6 billion tax payments to exchequers
  • 1.33 million training hours delivered to all staff
  • 51% non-hazardous waste recycling rate
  • 24% water recycling rate
  • 1,115,562 man-hours of safety training provided
  • 3,75,373 man-hours training on Code of Conduct and Human Rights

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Group Communications and Media Contact

  • Corporate and Media Queries
    Group Communications

    Arun Arora
    Head - Corporate Communications

    DLF Atria
    Gulmohar Marg, DLF Phase 2,

    Sector 25, Gurugram, Haryana 122002,

    India

    Tel: +91 124 4593039
    Email: gc@vedanta.co.in

  • Media Queries in UK
    RLM Finsbury

    Gordon Simpson/ Faeth Birch/Daniela Fleischmann


    Tenter House, 45 Moorfields
    London EC2Y 9AE
    Tel: +44 20 7251 3801
    Fax: +44 20 7251 4112
    Email: enquiries-uk@rlmfinsbury.com