Vedanta Aluminium Metal Limited (BSE: 544780; NSE: VAML), India’s largest aluminium producer, reported a strong financial and operational performance for the quarter and half year ended 30 September 2026, supported by record production, improved product mix, enhanced cost competitiveness and progress on strategic integration initiatives.
The company’s revenue for Q2 FY27 increased 41% year-on-year to ₹22,066 crore, while EBITDA rose 83% to ₹10,192 crore, with an EBITDA margin of approximately 46%. Profit after tax (PAT) more than doubled, increasing 105% year-on-year to ₹6,187 crore. Vedanta Aluminium also recorded its second consecutive quarter with EBITDA exceeding ₹10,000 crore, despite softening London Metal Exchange (LME) prices.
Operational performance reached new highs during the quarter. Aluminium production stood at a record 649 kilotonnes (KT), up 5% year-on-year and 3% sequentially. Value-added aluminium production reached an all-time quarterly high of 432 KT, registering 31% growth over the corresponding period last year. Alumina production also achieved a quarterly record of 895 KT, an increase of 37% year-on-year.
The company strengthened its balance sheet by reducing net debt by ₹3,090 crore during the quarter. Its net debt-to-EBITDA ratio improved to 0.7 times from 0.9 times in Q1 FY27. India Ratings upgraded the company’s credit rating to AA+ with a Stable outlook, while ICRA and CRISIL reaffirmed their ratings.
Vedanta Aluminium continued to advance its integration and expansion plans during the quarter. The second zone of the 435 KT per annum expansion at Bharat Aluminium Company Limited (BALCO) was operationalised, while Consent to Operate was secured for the Sijimali Bauxite Block. These developments support the company’s efforts to strengthen resource security and expand capacity across its aluminium value chain.
Commenting on the performance, Rajesh Kumar, Whole-Time Director and CEO, Vedanta Aluminium, said, “Our performance this quarter reflects the continued momentum in scaling Vedanta Aluminium into a globally competitive, integrated aluminium business. We achieved record aluminium and alumina production while making tangible progress across our growth and integration initiatives. The operationalisation of the second zone of BALCO’s expansion, alongside progress on securing our bauxite resources, reinforces the robust foundation of our integrated value chain. As we scale our operations, our focus remains on disciplined execution, cost competitiveness and an expanding portfolio of value-added products, enabling us to create enduring value for our stakeholders and meet the growing demand for aluminium.”
Anup Agarwal, CFO, Vedanta Aluminium, added, “We sustained our earnings momentum in Q2, with revenue of ₹22,066 crore, EBITDA of ₹10,192 crore, and PAT of ₹6,187 crore. Importantly, disciplined cash generation and capital management enabled us to reduce net debt by ₹3,090 crore during the quarter, improving Net Debt/EBITDA to 0.7x. The ratings upgrade and reaffirmations further strengthen our financial profile. With a healthy balance sheet and continued progress across our growth and integration projects, we remain well positioned to fund our strategic priorities while maintaining financial discipline.”
Vedanta Aluminium Metal Limited (NSE: VAML; BSE: 544780) is one of the world’s leading aluminium producers, supplying the metal to industries driving advanced manufacturing, the energy transition and next-generation technologies. As India’s largest aluminium producer, the company operates integrated, world-class facilities, including a state-of-the-art alumina refinery, one of the world’s largest aluminium smelter complexes in Odisha, and Bharat Aluminium Company Limited (BALCO). Its diverse portfolio of high-quality aluminium products serves customers in more than 60 countries, supporting critical global industrial supply chains.
Vedanta Aluminium is also recognised for its sustainability performance, reflected in its strong showing in the S&P Global Corporate Sustainability Assessment. Through continuous development of its products, operations and technologies, the company is expanding aluminium’s role in emerging industries while creating long-term value for customers, communities and shareholders.
