According to Bloomberg estimates, the company’s topline was seen at Rs 20,916 crore in the quarter gone by, while the bottomline was expected to be at Rs 1,335 crore.
The company’s EBITDA margin contracted to 27 per cent in the period under review as against 34 per cent in the same period last year.
Around 80-85 per cent of Vedanta’s total EBITDA comes from its zinc, lead, silver and zinc international business, while its loss-making copper and aluminium businesses contribute close to 10 per cent.
On a standalone basis, the company’s performance was dismal as it reported operational losses. However, upbeat zinc, lead, silver businesses of the domestic market along with zinc international business held the fort for Vedanta’s consolidated performance.
Going ahead, the management expects second half of the year to be a better business period again on the back of continued effort to lower costs in aluminium business and upbeat estimates from zinc, lead and silver segment.
With regard to its steel business, which Vedanta
has entered via acquisition of insolvent Electrosteel Steels, the management informed that the business has already turned around and that the company is now focusing on upping the plant capacity to 2.5 million tonne from present 1.5 million.
Vedanta's gross debt stood at Rs 59,517 crore on 30th June 2019, lower by Rs 6,708 crore as compared to March 31, 2019. This was mainly due to repayment of debt at Cairn India Holding Limited (CIHL), Vedanta
Limited Standalone and temporary borrowings at Zinc India, said the company. Going ahead, Vedanta has no plans of refinancing its debt but instead will be focusing on capital allocation to increase efficiency and maximise profits.