Vedanta

VEDL · NSE · Mega Cap

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Aluminium Frames·Listed·Directness 20/100

Vedanta

Diversified metals and power; aluminium, zinc and power exposure.

Aluminium Frames
Hold
Last price
₹299.00
52W: ₹151 – ₹323
-7.4% from 52W high
Mkt Cap
₹1.17 L Cr
P/E
13.6x
EV/EBITDA
6.2x
ROCE
16.5%
ROE
19.0%
Book Value
₹127.0
Promoter
56.4%
Real financial data sourced from Screener.in · annual + quarterly statements below

Scoring breakdown

SageOne-style fundamental · TQ-100 technical · solar overlays

A
Fundamental (30%)
67
Valuation (20%)
89
Technical (20%)
77
Solar exposure (10%)
20
Policy beneficiary (7.5%)
50
Project pipeline (5%)
50
Governance safety (7.5%)
80

52-week position

Real snapshot from Screener

₹151Current: ₹299₹323
P/E
13.6x
P/B
2.4x
Div Yield
14.60%

Investment thesis

One-liner · bull · bear · monitorables

One-liner. Vedanta: aluminium upstream beneficiary of solar manufacturing scale-up.

Bull case

Bull case for Vedanta: continued capacity ramp at attractive unit economics, supportive policy (PLI / ALMM / RPO / open access), benign module + commodity cycle, healthy receivable conversion, and re-rating from current valuation as execution beats consensus.

Bear case

Bear case for Vedanta: module/tariff price crash, working-capital blowout from DISCOM receivables, leverage spiking past 4x net-debt/EBITDA, ALMM/PLI delays, Chinese dumping, and de-rating to historical median multiples on growth disappointment.

Key monitorables
  • 01Quarterly capacity commissioned vs guidance
  • 02Receivable days from DISCOMs and large customers
  • 03Net debt / EBITDA trajectory
  • 04Order book to revenue cover

Solar exposure

Directness · policy linkage · BOM

Primary segmentAluminium Frames
Directness20/100
ALMM eligible—
PLI beneficiary—
Imported BOM—

Valuation snapshot

Multiple methods · solar-specific multiples

MethodValueHist %ile
P/E (TTM)13.6x—
Forward P/E——
EV/EBITDA6.2x—
EV/Sales1.8x—
P/B2.4x—
FCF Yield13.0%—

Project pipeline

0 tracked projects

No tracked projects.

Financials

Source: Screener.in (consolidated) · ticker VEDL · last updated 2026-05-11

Open on Screener.in
Market Cap
₹1.17 L Cr
Price
₹299.00
Stock P/E
13.6x
Book Value
₹127.0
ROCE
16.5%
ROE
19.0%
Div Yield
14.60%
52W Range
₹151 – ₹323

Ratio analysis (derived from statements)

Growth · profitability · returns · leverage · cash flow · valuation

Growth
Sales 1Y-48.7%
Sales 3Y CAGR-18.9%
Sales 5Y CAGR-12.3%
PAT 1Y22.2%
PAT 3Y CAGR20.1%
PAT 5Y CAGR1.4%
Profitability
OPM latest30.0%
PAT margin latest32.0%
PAT margin 3Y avg16.9%
ROE19.0%
ROCE16.5%
Asset turnover0.34x
Leverage & cash
D / E0.56x
Net Debt / EBITDA1.20x
Borrowings / Assets11.9%
CFO / EBITDA1.70x
CFO / PAT1.57x
FCF (TTM proxy)₹15.16K Cr
Valuation
P/E13.6x
EV/EBITDA6.2x
EV/Sales1.84x
P/B2.35x
FCF Yield12.98%
Div Yield14.60%

Annual P&L · 5 years

₹ Crore. Source: Screener.in consolidated.

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales1,32,7321,47,3081,43,7271,52,96878,437
Operating Profit44,82434,43135,31242,34323,183
OPM %34%23%25%28%30%
Net Profit23,71014,5037,53920,53525,096
EPS (₹)50.5828.4511.4038.3344.47

Quarterly results · last 4 quarters

₹ Crore.

MetricJun 2025Sep 2025Dec 2025Mar 2026
Sales37,82418,74721,33724,609
OPM %26%26%31%31%
Net Profit4,4573,4797,8079,352

Balance sheet · 5 years

₹ Crore.

ItemMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital372372372391391
Reserves65,01139,05130,35040,82149,261
Borrowings53,58380,32987,70691,47927,844
Fixed Assets—————
Total Assets1,93,9471,89,4551,88,1181,99,9402,33,237

Cash flow · 5 years

₹ Crore.

ActivityMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating34,96333,06535,65439,56239,499
Investing-2,243-668-13,676-19,158-24,338
Financing-28,903-34,142-26,092-19,223-13,549
Net Cash Flow3,817-1,745-4,1141,1811,612

Shareholding pattern

Latest disclosed

Promoters
56.38%
FII
13.93%
DII
13.43%
Public
16.05%
Government
0.06%

Policy linkages

Schemes where this company is a confirmed or likely beneficiary

No direct policy linkages tracked.