Vedanta Limited (BSE: 500295; NSE: VEDL) today announced its unaudited consolidated financial results for the third quarter and nine months ended 31 December 2025, delivering a record-breaking quarter marked by strong profitability, improved margins, robust production performance and continued progress on strategic priorities.
For Q3FY26, Vedanta reported profit after tax of ₹7,807 crore, representing a 60% year-on-year increase. Revenue for the quarter rose 19% YoY to an all-time high of ₹45,899 crore, supported by solid performance across businesses. The company also posted its highest-ever quarterly EBITDA of ₹15,171 crore, up 34% YoY. EBITDA margins expanded sharply by 629 basis points to 41%, reflecting higher operational efficiency and continued focus on cost optimisation.
Vedanta’s financial position strengthened further during the quarter, with Net Debt to EBITDA improving to 1.23x compared with 1.40x a year earlier. Return on Capital Employed (ROCE) remained strong at 27%, improving by 296 basis points YoY. Following the recent National Company Law Tribunal (NCLT) order related to the company’s proposed demerger, Vedanta’s credit ratings were reaffirmed at AA by CRISIL and ICRA, reinforcing confidence in the company’s business fundamentals and growth outlook.
Operationally, Vedanta delivered record production across key segments. Aluminium achieved its highest-ever quarterly metal output at 620 kt, while alumina production surged 57% YoY to a record 794 kt on the back of ramp-ups and productivity improvements. Zinc India posted its highest-ever third-quarter mined metal production at 276 kt and refined metal production at 270 kt, both up 4% YoY. Zinc India also recorded its lowest Q3 cost of production in five years at $940 per tonne, down 10% YoY.
Zinc International operations delivered production of 59 kt, up 28% YoY. Iron ore production stood at 1.2 million tonnes, up 3% YoY, while pig iron production increased 6% YoY to 229 kt. Copper cathode output reached 45 kt, the highest quarterly level in the last seven years, and ferrochrome production grew 32% YoY to 24 kt. The Power business also reported a strong quarter, with sales volumes rising 61% YoY.
Vedanta continued to advance its strategic agenda, including receiving NCLT approval for its proposed demerger, a key milestone expected to support long-term value creation. The company also acquired Incab Industries, strengthening its downstream footprint in copper and aluminium.
During the quarter, the company delivered total shareholder return of approximately 30%, outperforming broader indices as the stock reached lifetime highs multiple times. In addition, Vedanta Group secured three additional high-value critical mineral mining blocks, taking its total assigned blocks to 11.
Sustainability remains central to Vedanta’s operations, with improved ESG performance in Q3FY26. Vedanta Aluminium secured second rank in the S&P Corporate Sustainability Assessment for the third consecutive year, while Cairn Oil & Gas ranked among the top global performers in its first participation. The company also increased renewable energy usage, reduced emissions intensity and expanded water recycling, alongside continued investment in CSR initiatives that impacted 5.5 million lives. Over the last five years, Vedanta has delivered total shareholder returns of 428% along with a cumulative dividend yield of 73.5%.
Vedanta Limited (NSE: VEDL; BSE: 500295) is a global producer of metals, oil & gas, critical minerals, power and technology. The company supplies key materials enabling the energy transition, next-generation technologies and the future green economy. With operations across India, Africa, the Middle East and East Asia, Vedanta is positioned in high-growth regions. Sustainability remains central to its strategy through strong ESG governance, people-first workplaces and its commitment to achieve net-zero emissions by 2050 or earlier.
