VEDL - Vedanta Limited

Vedanta Limited operates as a diversified natural resources company in India.

The company explores for, develops, produces, processes, and sells zinc, lead, silver, oil and gas, aluminum, power, iron ore, steel, and copper.

It also operates 1,980 megawatts (MW) thermal coal-based commercial power facilities; a 600 MW thermal coal-based commercial power facility in Jharsuguda; a 300MW thermal coal-based commercial power facility at BALCO; 274MW of wind power plants; and a 100 MW power plant.

In addition, the company engages in the port business, including coal handling facilities and general cargo berth at the outer harbor of Visakhapatnam port on India's east coast.

Further, it is involved in the manufacture of steel and DI pipes, and LCD glass substrate; leasing and servicing medical equipment and buildings; infrastructure activities; and provision of accommodation and catering services.

The company was incorporated in 1965 and is based in Mumbai, India.

Vedanta Limited is a subsidiary of Vedanta Resources Limited.

 

$ 8.90

http://www.vedantalimited.com

 

MUMBAI, India, Nov. 14, 2019 /PRNewswire/ -- Vedanta Limited today announced its unaudited consolidated results for the Second quarter (Q2) and half year ended 30 September 2019.

Financial & Corporate Highlights

• Continued strong financial performance despite market headwinds
• Strong Balance Sheet

Operational Highlights

The overall volume and cost across businesses is better/ same compared to same quarter last year, supported by favourable tailwinds on input commodity costs . Business wise highlights are :

Zinc India:

• Ore production up by 3% y-o-y at 3.6 million ton with strong growth at Rampura Agucha and Zawar Mines.
• Mined metal production at 219 kt , up 3% q-o-q.
• Entering H2, with last phase of expansion project completed enabling 1.2 mtpa capacity.

• Zinc International: Gamsberg production at 24kt in Q2, ramp up in progress.">• Zinc International: Gamsberg production at 24kt in Q2, ramp up in progress.

Oil & Gas:

• 166 wells drilled, 63 wells hooked up.
• Early gas production facility currently ramped up to over 50 mmscfd.

Aluminium:

• Alumina production of 410kt, up 18% y-o-y.
• Hot metal cost at $ 1,852/ton, lower by 10% y-o-y
• Vedanta emerged as highest bidder for Jamkhani coal block in Odisha.

• Iron Ore: Highest ever quarterly sales in Karnataka at 1.4 million tonnes.">• Iron Ore: Highest ever quarterly sales in Karnataka at 1.4 million tonnes.

Steel: Sales at 283 kt , up 6% y-o-y.

TSPL: Plant availability of 92%.

https://finance.yahoo.com/news/vedanta-limited-consolidated-results-second-105800457.html

 

Billionaire Anil Agarwal Explores Buyout of India’s Vedanta

Dinesh Nair, Anto Antony and Baiju Kalesh




(Bloomberg) -- Billionaire Anil Agarwal plans to take Indian commodities giant Vedanta Ltd. private as the tycoon continues to simplify his investments.

The businessman is proposing a price of 87.5 rupees ($1.16) per share to buy the 49.9% he doesn’t own of the company from minority investors, a 9.9% premium over Monday’s closing price, his holding company said in a statement Tuesday. The announcement confirmed an earlier story by Bloomberg News.

Vedanta shares have fallen more than 40% this year, giving the company a market value of about $4.4 billion. Taking the company private is the “next logical step” in its simplification process and will provide more financial flexibility, Vedanta said in the statement.

Vedanta is working with JPMorgan Chase & Co on the plans and the bank is helping the company raise financing for the deal.

Agarwal’s Volcan Investments Ltd. has in the past taken his London-listed Vedanta Resources Ltd. private as the entrepreneur sought to simplify the corporate structure of his resources group. He had said at that time that a London listing was no longer necessary for the company thanks to “the maturity of the Indian capital markets.”

India Tycoon’s $1 Billion Oil Unit Stake Sale Said to Stall

A self-made billionaire, Agarwal has been a prolific dealmaker in the past few years as he sought to grow his metals-to-oil-and-gas empire into a resources conglomerate like BHP Group. Until last year, he was the largest shareholder of Anglo American Plc, triggering speculation that Agarwal was planning to push for a major change, such as a takeover or breakup. In the end, the tycoon decided to exit his investment because his returns were “achieved even sooner than expected.”

Last year, investors expressed concern over corporate governance at the Mumbai-listed company when its subsidiary Cairn India Holdings Ltd. bought an economic interest in Anglo American from parent Volcan Investments for $200 million. That led to fears that the parent would use more of the company’s cash to serve its funding needs. Vedanta subsequently unwound the trade around the time Agarwal exited his stake in Anglo American.

“Vedanta trades at a huge discount to its intrinsic value given that there were some corporate governance issues which met with serious objections from large institutional shareholders,” Sanjiv Bhasin, executive vice president at IIFL Securities Ltd. “Possibly he wants to get a fair multiple and he is thinking of withdrawing it because of the sheer low market cap which he gets.”

Agarwal’s fortune has been built on a series of ambitious acquisitions: In 2001, he bought control of then government-owned Bharat Aluminium Co. in one of the first tests of India’s efforts to offload state holdings. He followed that up with the purchase of another government entity, Hindustan Zinc Ltd. He successfully bid for what was India’s largest iron ore producer Sesa Goa Ltd. in 2007 and for Cairn India, despite having no oil and gas experience.

https://finance.yahoo.com/news/billionaire-anil-agarwal-explores-buyout-115934164.html

 

$ 14.31

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