The net profit is comparable to Rs 3,606 crore posted in the same quarter of the previous financial year. The net profit is attributable to the owners of the company.
Sequentially, the company’s profit attributable to the owners declined by 8.5%, down from Rs 3,483 crore reported in the previous quarter.
Vedanta, in its press release, informed that the company’s net debt/ EBITDA stood at 1.3x and the credit rating is reaffirmed at AA. The Anil Aggarwal-led company also recorded its highest ever first-quarter EBITDA at Rs 10,746 crore (5% jump YoY), supported by margin expansion of 81 bps to 35%.
With Lanjigarh recording its highest-ever Alumina production at 587 kt (+9% YoY), Vedanta is on track to achieve 3 MMT record volume in FY26. Additionally, the company has also commissioned 950 MW of Merchant Power Capacity YTD, taking the total merchant power generation capacity to 3.83GW.
Segment-wise performance
Aluminium
In the aluminium segment, the company reported record alumina production at 587 kt, marking a 9% year-on-year and 36% quarter-on-quarter increase. Cast metal aluminium production stood at 605 kt, up 1% YoY and flat sequentially. The quarter also saw the lowest Hot Metal (ex-alumina) cost in the last 16 quarters at $888 per tonne, while the overall aluminium cost of production declined 12% QoQ.
Zinc India
In the Zinc India business, the company reported its highest-ever first quarter mined metal production at 265 kt, reflecting a 1% year-on-year increase. The Hindustan Zinc Limited (HZL) cost for the quarter was also at its lowest, recorded at $1,010 per tonne, down 9% YoY. Additionally, the company achieved record quarterly zinc alloy production at HZAPL, which helped raise the overall value-added products (VAP) share to approximately 24%.
Zinc International
In the Zinc International business, mined metal production rose sharply by 50% year-on-year and 12% quarter-on-quarter to 57 kt. The overall cost of production was reported at $1,269 per tonne, representing a 21% YoY decline. Production at Gamsberg also saw strong gains, jumping 74% YoY and 13% QoQ, supported by a mining ramp-up and improved ore availability.
Oil & gas
In the Oil & Gas segment, production for Q1FY26 stood at 93.2 kboepd. The output was impacted by a natural decline in the MBA fields, though this was partially offset by infill wells brought online in the Aishwarya, ABH, and Satellite fields.
Iron Ore, Steel and Copper
In the Iron Ore, Steel, and Copper segment, the company reported saleable iron ore production at 1.8 million tonnes, registering a 42% year-on-year increase. Pig iron production rose to 213 kt, up 4% YoY and QoQ, marking the highest-ever pig iron production in the first quarter. Ferro Chrome production reached 28 kt, a 3% YoY and 150% QoQ surge, making it the highest on record. Meanwhile, Copper Cathode output stood at 44 kt, up 119% YoY and remained flat sequentially.
Power
In the Power segment, total power sales rose 33% quarter-on-quarter, with TSPL maintaining 90% plant availability. The Meenakshi power plant, with a total capacity of 650 MW, became fully operational following the commissioning of Unit 3 (350 MW) in July 2025. Additionally, Unit 1 of the 600 MW Athena Power Plant was also commissioned in July 2025, further boosting the company’s generation capacity.
Management Commentary
“Our 1Q performance has set a strong foundation for the year ahead. Amidst global market volatility, we delivered the highest-ever first quarter EBITDA. Operationally, we achieved the lowest hot metal cost (ex-Alumina) in the last 16 quarters, lowest-ever 1Q Zinc India CoP, 74% YoY increase in Gamsberg’s production, 33% QoQ surge in power sales, and 150% QoQ jump in Ferro Chrome volumes. The ramp-up of the Lanjigarh refinery to 587kt demonstrates our progress towards delivering over 3 MnT of Alumina in FY26,” said Anil Agarwal, Chairman of Vedanta.
Looking ahead, the company said that the commissioning of Train II at Lanjigarh, 435kt smelter capacity at Balco and 1300 MW of new thermal power capacity, all in 2Q, will enable the company to deliver its full-year guidance.
Further, the start of operations at the Sijimali bauxite mine and Kuraloi coal mine in H2 is likely to boost our performance to a record high.
Vedanta’s results were announced during the market hours, after which, the stock fell by 2.3% to close at Rs 424.80 on the BSE.
