Latest news with #AnilAgarwal-led
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Business Standard
2 days ago
- Business
- Business Standard
Vedanta contributed ₹4.5 trn to govt in last 10 yrs, ₹55,349 cr in FY25
Anil Agarwal-led Vedanta Ltd has contributed Rs 4.5 lakh crore to the government exchequer over the last 10 years. In its annual Tax Transparency Report (TTR), the company reaffirmed its commitment to transparent and responsible tax practices. The company said it has "contributed Rs 4,48,830 crore to exchequer across its domestic and international operations over the past decade (FY15-16 to FY24-25)." In FY25 alone, the company contributed Rs 55,349 crore (37 per cent of the consolidated revenue) through direct and indirect taxes, royalties, dividends, and other statutory payments. Of this, Rs 54,595 crore was contributed to the exchequer. In India, Vedanta has operations in 15 states, with Rajasthan operations contributing Rs 25,436 crore and Odisha Rs 9,176 crore to the exchequer in FY25. Vedanta Ltd, a subsidiary of Vedanta Resources, is one of the world's leading natural resources, critical minerals, energy and technology companies, spanning across India, South Africa, Namibia, Liberia, UAE, among others.
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Business Standard
3 days ago
- Business
- Business Standard
Vedanta offloads 1.6% stake in Hindustan Zinc to raise ₹3,028 crore
Anil Agarwal-owned Vedanta Ltd on Wednesday offloaded 66.7 million shares in its subsidiary Hindustan Zinc, amounting to 1.6 per cent of the company's outstanding ordinary share capital, raising ₹3,028 crore, according to a stock exchange filing. The shares were sold to institutional investors through an accelerated book-building process. The board of directors of the Anil Agarwal-led Vedanta met on Wednesday and approved the first interim dividend of ₹7 per share for the financial year 2025–26 (FY26), totalling ₹2,737 crore, the company said. Hindustan Zinc's stock ended the day at ₹452.80 on the National Stock Exchange, down 6.90 per cent, giving it a total valuation of ₹1.91 trillion. Vedanta owned a 63.42 per cent stake in the company before the transaction, which will decline to 61.82 per cent following the stake sale. The company said the stake sale is part of Vedanta's broader strategy to demerge into sector-specific entities, and the proceeds will be used to strengthen its balance sheet. 'As we actively progress towards the demerger of Vedanta into sector-focused entities across diverse verticals, this capital raise will help de-leverage the balance sheet and enhance financial flexibility, enabling each of the demerged entities to pursue their independent growth plans,' the company said in a statement. The company further added, 'This transaction reflects continued investor confidence in Vedanta's strategic direction, particularly the progress made over recent quarters in delivering record production, driving cost efficiencies, and execution of its deleveraging and demerger initiatives aimed at long-term value creation for all stakeholders.' It added that the date for the purpose of dividend payment is expected to be Tuesday, June 24, 2025. Vedanta's shares were down by 0.64 per cent to ₹456 after the market closed on the NSE.
New Indian Express
4 days ago
- Business
- New Indian Express
Vedanta to sell Hindustan Zinc shares worth Rs 7500 crore; HZL to invest Rs 12000 crore
NEW DELHI: Vedanta Ltd, the promoter of Hindustan Zinc Ltd (HZL), is reportedly planning to offload shares worth up to Rs 7,500 crore in HZL via block deals. The shares are expected to be offered at a discount of up to 10% to the last closing price. On Tuesday, the shares of Hindustan Zinc fell 5.26% to close at Rs 485.95 on the NSE. In the last five trading sessions, the company's shares have plummeted by more than 9%. HZL commanded a market capitalisation of Rs 205,519 crore on Tuesday. As of March 31, 2025, promoter shareholding in HZL stood at 63.42%. The central government holds a 27.94% stake in the billionaire Anil Agarwal-led Vedanta group company. Last week, the board of HZL approved the first interim dividend of Rs 10 per equity share i.e. 500% on face value of Rs 2 per equity share for the financial year 2025-26. Vedanta will amass Rs 2,679 crore as dividend from Hindustan Zinc. Vedanta Ltd has been aggressively pursuing deleveraging with the immediate target of bringing down EBIDTA to net debt ratio to 1 from1.2 in FY25. Vedanta Ltd's parent Vedanta Resources has has de-leveraged by over $4 billion in last three years. Further, Hindustan Zinc board on Tuesday approved investing Rs 12,000 crore to expand its metal smelting and refining operations at the Debari (Udaipur) facility. The company said that the investment will go towards setting up new metal smelters with 250 kilo tonnes capacity per annum. The investment, as per Hindustan Zinc, is part of its strategy to double the capacity of zinc, lead and silver. This expansion aligns with the strong growth in demand both in India and globally over the next five years, stated the company. The project is targeted to be completed in 36 months and the company will use a mix of internal cash generation and debt to fund the expansion. 'We are excited to announce this 2x growth project towards doubling our capacity across zinc, lead and silver, which is strategically aligned with the country's expanding economic landscape, increasing demand opportunities and keeping country self-reliant for Zinc. By closely matching the pace of national growth, we are confident that this will create significant value for our stakeholders and drive long-term success,' said HZL's Chief Executive Officer Arun Misra. Hindustan is among the largest Zinc and Silver producing companies in the world. The company currently has a smelter capacity of 1,129 kilotonnes per annum and said that its existing capacity utilization stands at 93% as of FY25. The proposed addition of 250 kilo tonne capacity per annum will increase the company's capacity by 22%.
India.com
01-06-2025
- Business
- India.com
Billionaire Anil Agarwal plans to raise up to Rs 5000000000 via...
New Delhi: Anil Agarwal-led mining firm Vedanta Ltd on Friday, May 30 said the committee of directors has approved raising up to Rs 5,000 crore via issuance of debentures. The committee approved the issuance of 5 lakh unsecured, rated, listed, redeemable non-convertible debentures (NCDs) of face value of Rs 1 lakh each on a private placement basis, according to a regulatory filing by Vedanta. 'The duly authorised committee of directors at its meeting held today has considered and approved the issuance of unsecured, rated, listed, redeemable, non-convertible debentures (NCDs) on a private placement basis aggregating up to Rs 5,000 crore,' the company said in the filing. In the January-March quarter, Vedanta reported a 154.4 per cent growth in its consolidated net profit to Rs 3,483 crore which was pushed by lower production costs and higher volumes. The company had posted a net profit of Rs 1,369 crore in the year-ago period. During Q4 FY25, its income rose to Rs 41,216 crore from Rs 36,093 crore in the year-ago period. As on March 31, 2025, the company's gross debt stood at Rs 73,853 crore. A top official of the company said that the demerger of its businesses is expected by the end of September this year. 'We are on track to finish (the demerger) by the second quarter end,' said Vedanta CFO Ajay Goel while talking to news agency PTI. Vedanta Ltd is one of the world's leading natural resources, critical minerals, energy, and technology companies spanning across India, South Africa, Namibia, Liberia, the UAE, Saudi Arabia, Korea, Taiwan, and Japan with significant operations in sectors like oil and gas, zinc, lead, silver, copper, iron ore and steel. The appellate tribunal National Company Law Appellate Tribunal (NCLAT) has stayed the National Company Law Tribunal (NCLT) orders against the demerger of the multinational mining company into separate entities and subsequent listing. The Mumbai bench of NCLT had on March 4, 2025 rejected the first motion petition moved for the composite scheme of arrangement between Vedanta in the matter of Talwandi Sabo Power Ltd (TSPL), observing that 'material facts have not been disclosed' regarding its debt obligations, which was against the Companies Act. (With PTI inputs)
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Business Standard
30-05-2025
- Business
- Business Standard
Vedanta Ltd to raise Rs 5,000 crore via NCDs as profit surges in Q4
Mining conglomerate Vedanta Ltd on Friday said the committee of directors has approved raising up to Rs 5,000 crore via issuance of debentures. The committee approved issuance of 5 lakh unsecured, rated, listed, redeemable NCDs of face value of Rs 1 lakh each on a private placement basis, as per a regulatory filing by Vedanta. "The duly authorised committee of directors at its meeting held today... has considered and approved the issuance of unsecured, rated, listed, redeemable, non-convertible debentures (NCDs) on a private placement basis... aggregating up to Rs 5,000 crore," the filing said. The issue will be listed on the BSE. Mining major Vedanta Ltd reported a 154.4 per cent increase in consolidated net profit to Rs 3,483 crore in the March quarter driven by lower production costs and higher volumes. The company had posted a net profit of Rs 1,369 crore in the year-ago period. The income of the company during the January-March period rose to Rs 41,216 crore from Rs 36,093 crore in the year-ago period, Vedanta had said in a BSE filing. As on March 31, 2025, the company's gross debt stood at Rs 73,853 crore. Anil Agarwal-led Vedanta Ltd expects to complete the demerger of its businesses by the September-end, according to a top company official. Speaking with PTI, Vedanta CFO Ajay Goel said, "We are on track to finish (the demerger) by the second quarter end." Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources, critical minerals, energy, and technology companies spanning across India, South Africa, Namibia, Liberia, the UAE, Saudi Arabia, Korea, Taiwan, and Japan with significant operations in sectors like oil and gas, zinc, lead, silver, copper, iron ore and steel.
