Value Creation Model

The integrated system of VALUE CREATION

Our Value Chain Activities

1 Exploration
2 Asset development
3 Extraction
4 Processing
5 Value addition and marketing

Vedanta 2.0 Values

Care
Integrity
Innovation
Agility
Ownership

Financial Capital

Gross debt: ₹ 81,740 crore
Cash and cash equivalent: ₹ 28,485 crore
Growth capex: ₹ 15,072 crore
EBITDA Margin: 39%

Manufactured Capital

Implementation of capex projects on schedule
Capital work-in-progress: ₹ 30,304 crore
Reliable availability of services from service providers and contractors
Ensuring optimal performance of assets

Intellectual Capital

Purpose and long-term goals-driven culture with continued investments to align strategy
Ongoing investments in digitalisation, innovation and process automation
Investment towards growth projects: ₹ 15,072 crore

Human Capital

Total workforce: 1,08,905
HSE workforce: 980
No. of geologists: 250+
Training: 4,68,542 hours
Safety training: 23,83,007 hours
Employees covered under mentoring and support programmes: 2,580

Social and Relationship Capital

Community investment: ₹ 419 crore
Strong global and domestic banking relationship: 30+
Independent Directors: 50%
Constructive dialogues with unionised and non-unionised workforce
Established credibility with local communities, civil society organisations, NGOs and the media

Natural Capital

Resources consumed (in million):
- Energy: 728.6 GJ
- Water: 239.4 m³
- Coal: 42.74 million tonnes
HVLT waste generated: 23.4 million tonnes
Ash generated: 16.9 million tonnes
R&R Zinc India: 469 million tonnes, containing 29.2 million tonnes of metal and 776.7 million ounces of silver
R&R Zinc International: 655 million tonnes, containing 34.3 million tonnes of metal and 333.8 million ounces of silver
R&R Oil & Gas: 1,321 mmboe gross proved, and probable reserves and resources

Financial Capital

Operating in a fast-growing economy where the focus is on infrastructure development and sustainability, Vedanta has adequate access to capital
The increase in interest rates has increased interest costs
Maintained strong liquidity with consistent record EBITDA delivery
Accessibility to capital is maintained through diverse funding sources

Manufactured Capital

Ensuring continued access to manufactured assets through targeted investments in maintenance and necessary replacement
Robust R&R base ensures steady raw material availability
All capex projects are progressing well for scheduled completion
Strategically located manufacturing plants ensure easy access to raw materials and logistical efficiency

Intellectual Capital

Focussed approach and programmes for R&D, skill development and attracting and retaining top talent
Modernised processes and high-end technology ensure alignment with the evolving world

Human Capital

Ready availability of skilled and semi-skilled people across global operations
Continued investments in skilling and well-being initiatives for people ensuring high retention

Social and Relationship Capital

Increased stakeholders’ expectations for enhanced ESG performance
Negative sentiments towards companies in the metal and mining sector

Natural Capital

Healthy and long-life asset with an adequate R&R base
Natural and mineral resources being finite, we maintain a strong focus on managing them carefully

Business Segments

Zinc-Lead-Silver
Power
Aluminium
Electronics
Oil and Gas
Nickel
Iron Ore
Copper
Steel & Ferro Alloys
Renewables
Technology

Industries Serviced

Infrastructure
Hydrocarbon refineries
Automotive
Fertiliser
Building and Construction
Steel
Power
Transport
Aerospace
Appliances
Packaging
Wires and Cables

Utilising the six capitals

Zinc India

Mined Metal 1,114 kt

Integrated Metal 1,048 kt

Oil & Gas

87.2 kboepd

Power

16.77 billion units

Aluminium

Alumina 2.916 million tonnes

Aluminium 2.456 million tonnes

Iron Ore

6.5 million tonnes

Zinc International

225 kt

Steel

1,301 kt

Copper

170 kt cathode production

Outcomes Delivered In FY 2025-26

Financial Capital

Revenue from Operations: ₹ 1,74,075 crore
EBITDA: ₹ 55,976 crore
PAT (after exceptional): ₹ 25,097 crore
Earnings per share (before exceptional items): ₹ 44.58
Dividend: ₹ 13,279 crore
FCF post-capex: ₹ 11,095 crore
RoCE: 32%
Net Debt to EBITDA: 0.95x
Total exchequer contribution: ₹ 62,722 crore

Manufactured Capital

Implementation of capex projects on schedule
Ensuring optimal performance of assets
Lowest Cost of Production at Zinc and Aluminium business in last 5 years
First metal from India’s largest 525 KA aluminium smelter at BALCO

Intellectual Capital

R&D Spend: ₹ 23.6 crore
Patents received in FY 2025-26: 8
Patents under active application: 25
Investment in digitalisation: ₹ 83.4 crore

Human Capital

Attrition rate: 13.7%
Diversity ratio: 23%
Total recordable injury frequency rate (TRIFR): 1.30
Fatalities: 4
Successful inclusion of LGBTQ+ colleagues with supportive policies

Social and Relationship Capital

CSR beneficiaries: 7.8 million
Nand Ghars built till FY 2025-26: 12,769
Dividend: ₹ 34 per share
Contribution to the exchequer: ₹ 62,722 crore
Youth benefited from employment-based skills training: 5,926

Natural Capital

GHG Emissions:
- Scope 1 – 68.2 million tCO₂e
- Scope 2 – 3.2 million tCO₂e
Water recycled: 90 million m³
HVLT utilised/utilisation: 22.9 million tonnes / 98%
Ash utilised/utilisation rate: 17.2 million tonnes / 101%

Financial Capital

Focus on value-added products with better margins
Prudent capital allocation for capacity expansion
Demerger approved by the NCLT creating 4 new resulting entities
Focus on deleveraging balance sheet
Raising capital through strategic stake sale in HZL

Manufactured Capital

Continued efforts to reduce costs and enhance productivity
Significant investments committed towards capex projects
Augmented critical mineral portfolio to 10 strategic composite licenses for high-value critical minerals like nickel, cobalt, and rare earth elements
Commissioned key projects including 1.3 GW at Meenakshi and Athena, India’s largest 435 KTPA smelter at BALCO, and Train-2 expansion at Lanjigarh from 3.5 to 5 MTPA of alumina capacity

Intellectual Capital

Sustained investments in innovation and phase 2 implementation of organisation-wide digital transformation project to maintain the competitive edge
MoU with Virginia Tech, USA for advanced research for silver recovery improvement
AI based computer vision and asset monitoring to enable predictive maintenance of critical and rotary equipment, thermal hotspot monitoring of switchyards and chemical consumable optimisation

Human Capital

Rolling out critical risk management to cover major risk areas
Strive for zero harm and zero discrimination workplace
Invest in employee skilling, health & safety and well-being

Social and Relationship Capital

Seek newer ways to engage and build healthy relationships with stakeholders
Maintain a robust ESG framework

Natural Capital

R&D to convert operational by-products into raw materials for application in other industries and internal consumption
Partnerships for circular economy solutions
Initiated renewable energy utilisation at Zinc India and Aluminium Business