Vedanta Q4 FY26 Results: Record Profit Jumps 89%, Revenue at All-Time High of ₹51,524 Crore

By Kaushik Brahmakshatriya

Published On 31 May 2026.

Vedanta quarterly results FY26,

Vedanta Limited (NSE: VEDL) delivered its strongest-ever quarterly and annual performance in Q4 FY26, announcing results on April 29, 2026. The metals and mining conglomerate posted a consolidated net profit of ₹9,352 crore for the January–March 2026 quarter, marking an extraordinary 89% year-on-year (YoY) surge. Revenue from operations touched an all-time high of ₹51,524 crore, while EBITDA soared 59% YoY — setting new benchmarks across every major financial metric.

The results come at a defining moment for the company, as its long-anticipated demerger became effective May 1, 2026, restructuring Vedanta into five independent, focused entities. Investors and analysts tracking VEDL have called this quarter a landmark in the company’s financial history.

Q4 FY26 Key Financial Highlights — Quarterly Performance (YoY)

Metric	Q4 FY26	Q4 FY25	YoY Change
Revenue from Operations	₹51,524 Cr	₹39,789 Cr	+29%
EBITDA	₹18,447 Cr	~₹11,600 Cr	+59%
EBITDA Margin	44%	~35%	+915 bps
Net Profit (PAT)	₹9,352 Cr	₹4,961 Cr	+89%
Free Cash Flow (Pre-Capex)	₹11,930 Cr	₹7,800 Cr	+53%
Return on Capital Employed	~32%	~26.6%	+539 bps

Full Year FY26 Performance — Annual Summary

Metric	FY26	FY25	YoY Change
Total Revenue	₹1,74,075 Cr	₹1,51,370 Cr	+15%
EBITDA	₹55,976 Cr	₹43,392 Cr	+29%
Net Profit (PAT)	₹25,096 Cr	₹20,535 Cr	+22%
Free Cash Flow (Pre-Capex)	₹26,013 Cr	—	Strong
Cash & Cash Equivalents	₹28,485 Cr	~₹20,600 Cr	+38%
Net Debt / EBITDA	0.95x	1.22x	Best in 14 Qtrs

Key Growth Drivers Behind the Record Results

Vedanta’s exceptional Q4 FY26 numbers were driven by a powerful combination of higher commodity prices, record operational output, and disciplined cost management.

On the production front, the company achieved all-time highs across multiple segments during FY26. Aluminium output reached 2.46 million tonnes, alumina production hit 2.9 million tonnes, and zinc mined metal at Zinc India came in at 1.1 million tonnes. Iron ore, pig iron (895 kt), and ferrochrome (101 kt) also reported record volumes. The commissioning of the Lanjigarh Train II alumina refinery, a new BALCO smelter, and downstream expansions at Jharsuguda further boosted capacity. A gas discovery in the Cairn-operated Ambe block added strategic upside in the oil and gas segment.

On the financial health side, the Net Debt-to-EBITDA ratio improved to 0.95x — the best level in 14 consecutive quarters — from 1.22x a year ago. The company also reduced debt by approximately $1.5 billion during FY26 and plans to cut a further $1.75 billion in FY27, targeting a ratio of 0.65x. CRISIL and ICRA reaffirmed Vedanta’s AA credit rating.

Balance Sheet & Capital Allocation

Parameter	FY26 Status
Net Debt / EBITDA	0.95x (Best in 14 quarters)
Cash & Equivalents	₹28,485 Crore (+38% YoY)
Total Capex FY26	₹14,918 Crore
Credit Rating	AA (CRISIL & ICRA reaffirmed)
Debt Reduction in FY26	~$1.5 Billion
FY27 Debt Reduction Target	~$1.75 Billion
Total Shareholder Return (TSR) FY26	48.6%

Dividend & Demerger — Strategic Milestones

Vedanta’s board declared a dividend of ₹11 per share for Q4 FY26, taking the total FY26 dividend payout to ₹34 per share — a significant reward for long-term shareholders. The company’s total shareholder return of 48.6% in FY26 outperformed the Nifty Metal Index by over 2x.

The demerger, effective May 1, 2026, is perhaps the most transformative development. Vedanta Limited has restructured into five independent entities:

1.Vedanta Aluminium — India’s largest aluminium producer

2.Vedanta Power — Energy and power businesses

3.Vedanta Limited — Zinc, lead, silver operations

4.Vedanta Iron & Steel — Pig iron and ferro chrome

5.Vedanta Oil & Gas — Cairn-operated upstream assets

Management believes this structural separation will unlock significant long-term value by enabling each business to pursue dedicated capital allocation, focused management, and sector-specific growth strategies.

CFO Ajay Goel stated: “The quarter marks a defining point for Vedanta, with all-time highs in Revenue, EBITDA, and PAT for both the quarter and the full year — and a clear positioning for the next phase of growth.”

Executive Director Arun Misra added: “FY26 was a year of strong execution, with record operational performance across the portfolio.”

Investor FAQ — Vedanta Q4 FY26 Results

Q1. What was Vedanta’s net profit in Q4 FY26?

Vedanta reported a consolidated net profit (PAT) of ₹9,352 crore in Q4 FY26, up 89% compared to ₹4,961 crore in Q4 FY25.

Q2. What was Vedanta’s revenue in Q4 FY26?

Vedanta’s Q4 FY26 revenue from operations stood at ₹51,524 crore — an all-time quarterly high, representing 29% YoY growth.

Q3. What was Vedanta’s EBITDA margin in Q4 FY26?

EBITDA jumped 59% YoY to ₹18,447 crore, with the EBITDA margin expanding sharply by 915 basis points to 44% — also a record.

Q4. What dividend did Vedanta declare for Q4 FY26?

The board declared a dividend of ₹11 per share for Q4 FY26, bringing the total FY26 dividend to ₹34 per share.

Q5. What is Vedanta’s demerger plan?

Vedanta’s demerger became effective May 1, 2026, splitting the company into five independent entities: Vedanta Aluminium, Vedanta Power, Vedanta Limited (Zinc), Vedanta Iron & Steel, and Vedanta Oil & Gas.

Q6. How has Vedanta’s debt position changed in FY26?

Vedanta reduced debt by ~$1.5 billion in FY26, bringing Net Debt-to-EBITDA to 0.95x — the best ratio in 14 quarters. It targets a further $1.75 billion reduction in FY27.

Q7. What is Vedanta’s credit rating?

Both CRISIL and ICRA reaffirmed Vedanta’s AA credit rating following the Q4 FY26 results.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult a SEBI-registered financial advisor before making any investment decisions. Past performance is not indicative of future results.we are not responsible any loss.