Vedanta Limited (BSE: 500295, NSE: VEDL) released its financial results for the fourth quarter and full fiscal year ending March 31, 2025. The company posted a net profit of ₹20,535 crores for FY25, representing a 172% increase over the previous year. Total revenue for the year reached ₹1,50,725 crores, up 10% year-on-year, setting a new record for the group.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) for FY25 came in at ₹43,541 crores, up 37% from the previous year, making it the second-highest EBITDA in Vedanta’s history.
For Q4FY25, Vedanta achieved its highest-ever quarterly revenue at ₹39,789 crores, a 14% year-on-year rise. EBITDA for the quarter stood at ₹11,618 crores, up 30% year-on-year, with margins improving to 35%—the highest in the last three years. Net profit for the quarter climbed 118% to ₹4,961 crores.
Vedanta improved its liquidity position, with cash and cash equivalents increasing by 34% to ₹20,602 crores. Free cash flow (pre-capex) for the quarter stood at ₹7,814 crores. Capital expenditure for FY25 totaled ₹12,626 crores, directed largely at expanding production capacity and reinforcing supply chain capabilities.
Return on Capital Employed (ROCE) rose to 27%, up 371 basis points from the prior year. Net debt decreased to ₹53,251 crores, with the net debt-to-EBITDA ratio improving to 1.2x from 1.4x at the end of December 2024. Both CRISIL and ICRA upgraded the company’s credit rating to ‘AA’, with a watch for further developments.
Vedanta delivered strong operational performance across its key business segments in FY25. Aluminium production reached an all-time high of 2,422 kilotonnes, reflecting improved plant efficiencies and capacity utilization.
In its zinc operations in India, the company recorded its highest-ever levels of both mined and refined metal output, achieving 1,095 kilotonnes and 1,052 kilotonnes respectively, driven by enhanced throughput and process optimization.
Iron ore production also saw significant growth, increasing by 12% year-on-year to 6.2 million tonnes, supported by stable operations and improved logistics. Meanwhile, the copper business posted an annual cathode production of 149 kilotonnes, maintaining steady output amidst ongoing sectoral challenges.
Executive Director Arun Misra credited the company’s strong quarterly and annual performance to operational efficiency and cost management. He highlighted lower production costs in zinc and aluminium as a key achievement and reaffirmed the company’s focus on expansion projects, including the Lanjigarh Alumina Refinery and Sijimali Bauxite Mine, both aimed at reducing costs and supporting future growth.
CFO Ajay Goel noted that Vedanta delivered its highest-ever quarterly revenue and emphasized improved margins and profitability driven by stable operations, market conditions, and cost control. He also pointed to a reduction of approximately $500 million in debt during the quarter.
Vedanta Limited continued to advance its Environmental, Social, and Governance (ESG) efforts during FY25, earning top recognition on the global stage. Hindustan Zinc secured the top spot, and Vedanta Aluminium ranked second in the 2024 S&P Global Corporate Sustainability Assessment, highlighting their leadership in sustainable business practices. In alignment with its climate goals, the company signed renewable energy procurement agreements totaling 1,906 MW and utilized 2.61 billion units of green power throughout the year.
On the social front, Vedanta surpassed its workplace gender diversity target by achieving 22% representation of full-time female employees, years ahead of schedule. The company also continued its commitment to community development, constructing over 8,000 Nand Ghars—centers for women and child welfare—and investing ₹584 crore in CSR programs that benefited approximately 6.8 million individuals. Environmental initiatives included planting more than 3 million trees in FY25 as part of a broader goal of reaching 7 million trees by 2030.
Vedanta’s environmental performance was further reinforced by a 95% utilization rate for high-volume, low-toxicity waste and a 29% water recycling rate. These efforts reflect the company’s focus on reducing its environmental footprint while enhancing resource efficiency across operations.
In Q4FY25, the company also demonstrated strong financial discipline. Depreciation and amortization expenses rose 9% year-over-year to ₹2,988 crore, largely due to increased activity in the Oil & Gas and Zinc India segments. Finance costs went up 6% sequentially, while investment income declined 35% year-on-year, driven by portfolio adjustments.
The effective tax rate dropped significantly to 28%, compared to 46% in the same quarter last year. Additionally, the company earned several awards in recognition of its safety standards, corporate responsibility, operational efficiency, and sustainability performance, reinforcing its standing as a responsible and high-performing business. Vedanta Limited, a subsidiary of Vedanta Resources Limited, is a global player in the natural resources, critical minerals, energy, and technology sectors. With a footprint spanning India, South Africa, Namibia, Liberia, the UAE, Saudi Arabia, Korea, Taiwan, and Japan, Vedanta operates across a diverse range of industries including oil & gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power, and glass substrates. The company is also expanding into electronics and display glass manufacturing, strengthening its presence in the advanced materials space.
For over 20 years, Vedanta has played a key role in contributing to national development. The company places governance, environmental responsibility, and safety at the center of its operations. As part of its long-term sustainability goals, Vedanta has laid out a robust ESG framework and is committed to achieving net-zero carbon emissions by 2050 or earlier. To support this transition, it plans to invest $5 billion over the next decade in sustainability and clean energy initiatives.
Community development is deeply embedded in Vedanta’s values. Through the Anil Agarwal Foundation, which leads the group’s social impact efforts, the company aims to invest ₹5,000 crore over the next five years in initiatives ranging from education and healthcare to women and child welfare. The flagship project, Nand Ghar, is transforming early childhood education by building modern anganwadis across the country.
Vedanta’s performance and commitment to responsible business have earned it global recognition. It ranked among the top five in the S&P Global Corporate Sustainability Assessment 2024 and is listed on the Dow Jones Sustainability World Index. The company has also received certification as a Great Place to Work and was named a Kincentric Best Employer in 2023. Vedanta Limited is publicly traded on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
