Vedanta Resources posts 2nd highest ever consolidated EBITDA of $4.7 billion in FY24

Free cash flow post-capex of 0.7 billion was lower than 1.6 billion of 202223 mainly due to increased capex outflow and working capital investment

Vedanta Resources, the parent company of Indialisted mining group, posted its second highest ever consolidated EBITDA of $4.7 billion for FY24, a year which its chairman Anil Agarwal described as ‘pivotal year’ that will result in “a strong Vedanta.”

Revenue (before special items) for the year at $17.1 billion was 6 per cent lower than $18.1 billion of the previous year “primarily driven by lower output commodity prices primarily of aluminium, zinc and brent, partially offset by higher volume at aluminium, copper and iron ore business,” the conglomerate said in a statement on its website.

It posted the second highest ever consolidated EBITDA of $4.7 billion, 2 per cent higher year-on-year (FY 2022-23: $4.6 billion). “This was mainly due to softening of input commodity prices coupled with strategic cost savings, one time arbitration award in oil and gas business which is partially offset by slip in commodity prices primarily of aluminium, zinc and brent and strategic hedging gain recognised in previous year.”

The group posted an adjusted EBITDA margin of 32 per cent, up 315 basis points.

Profit attributable to equity holders (before special items) however slipped marginally to $31 million.