Vedanta Resources FY22 revenue rises by 50%

Vedanta Resources recorded net revenue of $17.6 billion in FY22 as compared to $11.7 billion in FY21 depicting a growth of 50% YoY. This was primarily driven by higher commodity prices, higher volumes of Aluminum, Copper,
Talwandi Sabo Power Limited(TSPL), Iron Ore Business(IOB) and Ferro Alloys Corporation Ltd(FACOR), increased premium at Aluminum and Hindustan Zinc Limited, rupee depreciation and partially offset by lower power sales at Vedanta Aluminum and Bharat Aluminum Company. While the company reported a net profit of $825 millions which was up by 172% as compared to $303 million in FY21.

The company further reported an all time high consolidated EBITDA at $6.3 billion, 65% higher YoY (FY2021: $3.8 billion). The Group generated free cash flow (FCF) post-capex of $2,083 million (FY2021: $1,253 million), driven by strong cash flow from operations and lower sustaining and project capital expenditure.

The company also has strong liquidity position with cash and cash equivalents of $4.4 billion. While the net debt to EBITDA has been lowest in the past 5 years at 1.9 times.