Page 2 - Anil Agarwal

Vedanta Q1 FY25 results: Net profit rises 36.6% to Rs 3,606 crore

The company's other income was down 59.8 per cent to Rs 934 crore on a Y-o-Y basis

Vedanta going ahead with demerger of businesses, says Anil Agarwal

Vedanta Chairman Anil Agarwal on Wednesday said that the company is going ahead with the proposed demerger of its businesses that will lead to formation of six firms and unlocking of massive value. The company has received approvals from the majority of its creditors for a proposed demerger of businesses, marking an important step in the company's plan to split into six independent listed companies. Addressing shareholders during the 59th Annual General Meeting, the Chairman said, "We are going ahead with the demerger of our businesses, which will lead to the creation of 6 strong companies, each a Vedanta in its own right. This will unlock massive value." Each demerged entity, he said, will plan its own course but follow Vedanta's core values, its enterprising spirit and global leadership. "As we stand on the brink of an amazing transformation, our josh is high," Agarwal said, adding, "the demerger will lend speed to our journey." Each entity will have more independence with regar

Vedanta group chairman Agarwal, Odisha CM discuss areas of collaboration

Vedanta group on Saturday said its Chairman Anil Agarwal met Odisha Chief Minister Mohan Charan Majhi and discussed new areas of collaboration to accelerate the state's transformative journey and enhance its industrial development. During the meeting, Agarwal reiterated the group's commitment to the progress of the state, Vedanta said in a statement. The discussion focused on identifying new areas of collaboration that could further accelerate Odisha's transformative journey, enhancing the state's industrial and socio-economic development, it said. "My meeting with Majhi Ji was highly productive, and we discussed our shared vision for Odisha's growth. Under his capable leadership, our longstanding partnership will continue to thrive, driving the state to greater heights," Agarwal said. Vedanta group has made significant investments in Odisha, amounting to more than Rs 1 lakh crore. This is the conglomerate's largest ever investment anywhere in the world. These investments have led

Court approves billionaire Anil Agarwal's plan to reclaim Zambia mine

To get access to the mine again, Vedanta now needs to follow the court ruling by releasing $250 million to settle debts that KCM owes to contractors and suppliers

Vedanta mulls first dollar bond sale of $500 mn in debut overseas issuance

The company is also exploring other avenues of fundraising, including equity sales and local currency loans from domestic banks, the people said

Vedanta target price raised 15%; M&M stock surges 91% in 5 months

The Anil Agarwal group co value has risen by over 70 per cent this year. Analysts say operational efficiencies, cost reduction, improved operating profit, and proposed demerger have underpinned gains

Anil Agarwal's Vedanta considering $1 bn share sale in coming weeks

Shares of Vedanta have gained 78% this year, giving the company a market value of about $20.6 billion

Anil Agarwal-led Vedanta's board approves fundraise of up to Rs 8,500 cr

This is the second time that the company is raising funds in the current fiscal year. Last month, it said it would raise up to $300 million through debt securities

Anil Agarwal's Hindustan Zinc to pay $506 mn dividend to ease debt burden

Agarwal is also planning to split the group into six listed companies by March 2025 to unlock value

Vedanta Group planning to invest $20 bn in India in 4 years: Anil Agarwal

The Vedanta Group is targeting an investment of USD 20 billion across all its businesses in India over the next four years, its Chairman Anil Agarwal said on Wednesday. The investments will be focused on technology, electronics, and glass businesses apart from the other activities that the group is engaged in, Agarwal told reporters here. The billionaire from Bihar said he wants to play the role of a catalyst in helping his home state grow, but said there is a need for a strong support from the policy front for it. He was speaking on the sidelines of an event where the mining-focused group announced to scale up its philanthropic activities. The group wants to take the total number of Nand Ghars, under which it takes care of children's nutritional requirements at the villages, to 25,000 over the next two years from the present 6,000, he said.

FY25 will be a transformative year for Vedanta on many fronts: Anil Agarwal

Mining tycoon Anil Agarwal has said the current financial year that started on April 1 will be a transformative year for his conglomerate Vedanta as it prioritises disciplined growth while parent eyes a USD 3 billion deleveraging in the next three years. In a communication to shareholders, Vedanta Ltd Chairman Agarwal said the group will pursue sustainable growth while maintaining a healthy balance sheet. "These include further deleveraging (parent) Vedanta Resources by USD 3 billion in the next 3 years and achieving an annual group EBITDA of USD 7.5 billion within 2 years," he said. "FY25 will be a transformative year for us on many fronts as we prioritise disciplined growth, operational excellence, and exploring opportunities along the value chain," he said. Vedanta had previously stated that it will invest USD 6 billion across businesses that span from aluminium and zinc to iron ore, steel and oil and gas, which is expected to generate incremental revenue of over USD 6 billion a

Ex-BofA veteran overseeing Vedanta Group's restructuring steps down

Davis, who was named as president for strategy at Vedanta Resources Ltd. last year, was working closely with the group's lenders and shareholders

Vedanta gains 14% in five sessions. Here are four factors fuelling rally

Commodity major's stock has hit its highest level since February 2023

Govt rejects Hindustan Zinc's plans to split company into different units

Vedanta has a 64.9% stake in Hindustan Zinc

Cairn gave up right to claim interest: Vedanta to appeal against Sebi order

Billionaire Anil Agarwal's Vedanta Ltd on Wednesday said it will appeal against Sebi levying Rs 77.6 crore penalty for delay in paying dividends to its erstwhile shareholder, Cairn Energy, saying the UK firm had given up its right to claim interest when it settled a retrospective tax demand with the government. Sebi had on Tuesday ordered Vedanta to pay Rs 77.62 crore to Scottish explorer Cairn and also barred the firm's entire board, including his brother Navin and daughter Priya, from accessing the capital market for the same. "Vedanta Ltd will appeal the Sebi order before the appropriate forum," the firm said in a statement. Vedanta had in 2011 bought Cairn Energy's majority stake in its Indian arm, Cairn India Ltd. Cairn continued to hold a minority stake in Cairn India, which was subsequently merged into its parent and Mumbai-listed Vedanta Ltd. In 2014, the Income Tax department gave it powers to levy taxes retrospectively, to seek Rs 10,247 crore in capital gains tax from th

SC suggests expert panel to explore restart of Vedanta's Sterlite Copper

According to reports, the court observed that national interest cannot be overlooked and the nation should not lose the Tamil Nadu asset

Vedanta's demerger process to be completed in next 9-12 months: Official

Vedanta is working "actively" for demerger of its key businesses, including aluminium, into separate listed companies and the process is likely to be completed in next nine to 12 months, a top official of the company said. Billionaire Anil Agarwal-owned Vedanta Ltd had last year announced creation of independent verticals through demerger of its metal, power, aluminium, and oil and gas businesses to unlock potential value. In an interview to PTI, John Slaven, CEO of aluminium business of Vedanta, said, "We are working very actively in securing the successful demerger of the aluminium business." The process for the demerger is currently underway and is subject to a number of approvals from various authorities, he added. "We also need approval from our current lenders in the allocation of debt across the various entities that will be separated. So that's playing out at the moment. It's not directly within our hands. So unfortunately I'm not in a position to tell you categorically whe

Vedanta chairman Anil Agarwal outlines $4 bn plan to double oil production

Mining conglomerate Vedanta Ltd will invest USD 4 billion over the next three years to double oil production, its chairman Anil Agarwal said on Tuesday as he pushed ahead with an aggressive oil and gas expansion programme. Vedanta, which more than a decade back acquired Scottish explorer Cairn Energy's (now Capricorn Energy) India assets, is targeting 300,000 barrels per day (15 million tonnes a year) oil output in 3 years from aggressive exploration campaign, he said on the sidelines of the India Energy Week (IEW) here. The company is pushing ahead with the investment undeterred by concerns around debt levels at parent Vedanta Resources. "India is the best place to be in right now. It has the resources as well as the market," he said. "But unfortunately we (as a country) produce just 15 per cent of our need and the rest is imported." Agarwal said his company currently produces around 140,000 barrels per day of oil and oil equivalent gas and has a promising acreage in northeast and

Vedanta Q3FY24 results: Net profit falls over 18% to Rs 2,013 crore

Vedanta Q3 results: The revenue of the company was up 4 per cent to Rs 34,968 crore during the quarter

Majority bondholders have consented to restructuring: Vedanta Resources

The company said 97.78 per cent, 98.69 per cent, 99.6 per cent, and 99.12 per cent of the four series of bonds respectively have consented in favour of the company's proposed restructuring