On April 04, 2024, Vedanta Limited, a subsidiary of Vedanta Resources Limited, released the production numbers for the quarter (Q4 FY 2024) and the year ended March 31, 2024 (FY2024). The company further added that it delivered the highest-ever annual volume across key businesses.
| Particulars (In ‘000 tonnes) | Q4 FY2024 | Q4 FY2023 | Change (%) | FY24 | FY23 | Change (%) |
| Aluminium | 598 | 574 | 4% | 2,370 | 2,291 | 3% |
| Zinc India (Saleable) | 273 | 269 | 1% | 1,033 | 1,032 | – |
| Zinc International | 33 | 63 | -47% | 208 | 273 | -24% |
| Steel | 343 | 386 | -11% | 1,386 | 1,285 | 8% |
| Copper Cathodes | 31 | 34 | -10% | 141 | 148 | -5% |
During FY2024, the company achieved the highest-ever cast metal aluminium production of 2,370 kt at its smelters, reflecting a YoY growth of 3%. With respect to Zinc, mined metal production reached 299 kt in Q4 FY2024, reflecting QoQ growth of 11%, driven by a mix of improved mined metal grades and higher ore production across mines.
The company witnessed a surge in saleable iron ore production to 1.7 million tonnes, which rose 13% YoY and 23% QoQ because of the improved operational efficiency and process improvement.
During Q4 FY2024, the company’s Silvassa cathode and wire rod plant continued to operate, which enabled the business to cater to the domestic market. However, cathode production at Silvassa was slumped by 10% YoY and 29% QoQ due to the unavailability of input commodities.
As part of its continuous growth efforts, Vedanta Limited reached a significant milestone by securing a position among the top 3 worldwide companies with a production capacity of 3 million tonnes of aluminium per annum (MTPA) on April 03, 2024. The company announced the commissioning of the new 1.5 MTPA extension at its state-of-the-art alumina refinery in Lanjigarh, Odisha. This additional 1.5 MTPA capacity is a part of the company’s new 3 MTPA facility, which will take the overall nameplate capacity at the Lanjigarh refinery from an existing 2 MTPA to 5 MTPA.
Vedanta Ltd is a diversified natural resource group involved in exploring, extracting and processing minerals and oil & gas. On April 04, 2024, the shares of the company opened at ₹305.25 and touched the day high of ₹312.50 at ₹11:35 AM.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Apr 4, 2024, 12:37 PM IST
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