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Vedanta Targets EBITDA Of $10 Billion The company has over 50 projects under execution with high potential for increasing volume, business integration, and enhancing the range of value-added products across businesses

By Shrabona Ghosh

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Anil Agarwal

Vedanta is investing in key projects as global demand for critical minerals continues to grow. Speaking on this, Vedanta's chairman, Anil Agarwal said, "We have over 50 projects under execution with high potential for increasing volume, business integration, and enhancing the range of value-added products across businesses. Our investment in growth projects is substantial, amounting to approximately $8 billion."

These projects include aluminium smelter, alumina refinery, a copper smelter in Saudi Arabia, investment in new oil and gas blocks, and expansion of steel and iron ore businesses. These projects have already begun to contribute to the company's top and bottom lines. "With this investment and the efforts of our team, which includes over 100 expatriates and global experts, we are well-positioned to meet our EBITDA target of $10 billion in the near future," he added.

India has only explored 30 per cent of its geological potential. With a few policy reforms, the supply side in India can become as robust as demand. "Today, 50 per cent of our imports, worth more than $350 billion, are minerals and metals, including oil and gas. This will double and triple as the economy grows at a fast rate. This sector is a $1 trillion opportunity."

The company has invested over $35 billion in India and contributes around 1.4 per cent of India's GDP. As part of the expansion initiative, it is actively engaged in -- the new 1.5 MTPA expansion at its alumina refinery in Lanjigarh, operationalising the Bicholim mine in Goa, commencing production at Jaya oilfield in Gujarat. The conglomerate has also acquired the Athena and Meenakshi power plants in FY'24 doubling its merchant power capacity to 5GW.

Vedanta is going ahead with the demerger of its businesses, which will lead to the creation of six companies. "This will unlock massive value. Each demerged entity will chart their own course but will follow Vedanta's core values, its enterprising spirit and global leadership," the chairman explained. In September, Vedanta announced a plan to demerge its business units into independent "pure play" companies to unlock value and attract large scale investment into the expansion and growth of its businesses.

The company's financial performance for FY2024 stood at annual consolidated revenue of INR 1,41,793 crores, and second-highest annual EBITDA of INR 36,455 crores. The chairman was speaking at the company's 59th annual general meeting.

Shrabona Ghosh

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A journalist with a cosmopolitan mindset. I lead a project called 'Corporate Innovations' wherein I cover corporates across verticals and try to tell stories on innovations. Apart from this, I write industry pieces on FMCGs, auto, aviation, 5G and defense. 
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