Page 2 - Vedanta Group

IiAS opposes Hindustan Zinc CEO's reappointment over remuneration terms

IiAS has recommended against resolutions on CEO remuneration and reappointment of two independent directors at Hindustan Zinc, citing governance and transparency concerns

Hindustan Zinc joins international mining body amid sustainability push

As a part of the ICMM, HZL will adhere to 40 performance expectations covering environmental, social, and governance practices, with third-party validation applied across all its assets

L&T secures large contract from Hindustan Zinc for Debari plant upgrade

Larsen & Toubro (L&T) on Friday said it has bagged an order in the range of Rs 2,500-5,000 crore from Vedanta group firm Hindustan Zinc for designing and commissioning of one of its plants. The project has been awarded to the minerals and metals business vertical of L&T, a company filing said. As part of its expansion plans, Hindustan Zinc is setting up a 250 kilotonne per annum (KTPA) leaching, purification and cellhouse facility, along with a 125 KTPA Jarosite Circuit at its Debari Smelter Complex in Rajasthan. The facility will produce special high grade zinc cathodes. "The scope encompasses design and engineering, procurement, complete site services including installation and commissioning of calcine storage, leaching, purification, and electrowinning (Jumbo Cell House) plant," the filing said. "This win reaffirms L&T's leadership in the minerals and metals sector and underscores our commitment to delivering excellence that ensures customer satisfaction," T ...

Vedanta refunded ₹1,030 cr brand fee to unit after ED scrutiny: Viceroy

Viceroy Research alleges Vedanta Resources refunded ₹1,030 crore to Vedanta Ltd after ED scrutiny, raising questions over intercompany brand fee payments and governance

Viceroy Research's claim of ₹2,500 crore sham is baseless: Vedanta

Continuing its triad against mining Moghul Anil Agarwal's Vedanta group, US-based Viceroy Research has alleged that the group's semiconductor unit was a "sham commodities trading operation", designed to avoid classification as an NBFC, a charge the mining conglomerate dismissed as baseless. US short seller Viceroy Research, which last week published a scathing report about Vedanta Group and followed it with similar reports on group companies, in fresh allegations said Vedanta Ltd's subsidiary, Vedanta Semiconductors Pvt Ltd, was part of a scheme to allow the Mumbai-listed firm to remit brand fees to parent Vedanta Resources in April this year, when it faced a severe liquidity crisis. In a statement, Vedanta spokesperson said the group "strongly rejects the baseless allegations made in the report regarding Vedanta Semiconductors Pvt Ltd (VSPL)". "All business activities of VSPL have been transparently disclosed and are in line with statutory norms," it said. Viceroy said, "VSPL is a

Vedanta report by Viceroy 'lacks credibility', says Ex-CJI Chandrachud

Former CJI DY Chandrachud said Viceroy's report on Vedanta includes damaging terms like 'ponzi', and the company would be well-placed to seek legal remedies

Delhi High Court refuses to stop Vedanta's deductions in oilfield dispute

The Delhi High Court has allowed Vedanta to proceed with deductions from its revenue share in the Mangala, Bhagyam, and Aishwariya fields, dismissing the Centre's appeal

Short-seller flags Hindustan Zinc ₹1.5K cr 'brand fee' payment to Vedanta

The allegations place the next move squarely in the government's court, raising questions around Vedanta's compliance with its contractual obligations and governance standards in managing a company

Vedanta Chairman Anil Agarwal fends off Viceroy Research's volleys

Chairman vows transparency after US short-seller's allegations

Viceroy shorts Vedanta Resources' debt; group calls report 'malicious'

Viceroy Research has shorted Vedanta Resources' debt, alleging the group is draining its Indian unit, inflating profits, and posing serious risks to creditors through unsustainable practices

Vedanta contributed ₹4.5 trn to govt in last 10 yrs, ₹55,349 cr in FY25

Anil Agarwal-led Vedanta Ltd has contributed Rs 4.5 lakh crore to the government exchequer over the last 10 years. In its annual Tax Transparency Report (TTR), the company reaffirmed its commitment to transparent and responsible tax practices. The company said it has "contributed Rs 4,48,830 crore to exchequer across its domestic and international operations over the past decade (FY15-16 to FY24-25)." In FY25 alone, the company contributed Rs 55,349 crore (37 per cent of the consolidated revenue) through direct and indirect taxes, royalties, dividends, and other statutory payments. Of this, Rs 54,595 crore was contributed to the exchequer. In India, Vedanta has operations in 15 states, with Rajasthan operations contributing Rs 25,436 crore and Odisha Rs 9,176 crore to the exchequer in FY25. Vedanta Ltd, a subsidiary of Vedanta Resources, is one of the world's leading natural resources, critical minerals, energy and technology companies, spanning across India, South Africa, Namibi

Hindustan Zinc to invest ₹12,000 crore for new smelter in Rajasthan

Hindustan Zinc said that the new smelter and associated expansions are expected to be completed within 36 months. The investment will be funded through internal accruals and debt

Hindustan Zinc declares Rs 10/share interim dividend, totalling Rs 4,225 cr

Vedanta group firm Hindustan Zinc Ltd on Wednesday declared an interim dividend of Rs 10 per share, amounting to Rs 4,225 crore for the current fiscal year. The decision was taken at the company's board meeting, according to a BSE filing. "The board of directors of the company, through a resolution passed by circulation on Wednesday... has approved the first interim dividend of Rs 10 per equity share i.e. 500 per cent on face value of Rs 2 per equity share for the financial year 2025-26," it said. In the last fiscal year, the Hindustan Zinc distributed dividends to the tune of Rs 12,250 crore, the company said in a statement. "This was through two dividends of Rs 19 and Rs 10," it said. Hindustan Zinc is among the high-dividend-yield large-cap metal companies. With the first interim dividend for FY26, the dividend receipts for the government total nearly Rs 1,180 crore, it said. The company contributes nearly 35 per cent of the declared dividend to the government treasury, includ

Vedanta Resources weighs Zambia copper IPO to fund $1 billion investment

Vedanta has pledged to invest $1 billion in the operation as part of negotiations with the state to secure its return to Konkola copper mines

Hindustan Zinc Q4FY25 results: Net profit rises 47.4% to ₹3,003 crore

The zinc and silver producer's total revenue from operations jumped by 20.4 per cent to ₹9,087 crore in the January-March quarter on a year-on-year (Y-o-Y) basis

Vedanta fined Rs 71 crore for illegal fly ash disposal in Odisha

Vedanta group firm Hindustan Zinc Ltd (HZL) has said that State Pollution Control Board, Odisha, has asked it to deposit a compensation of Rs 71.1 crore for unauthorised disposal of fly ash. Fly ash is a fine, powdery waste material created when coal is burned in power plants. "The issue pertains to allegation for unauthorised disposal of fly ash. The Member Secretary requested the company to deposit the environmental compensation of Rs 71,16,53,320," Vedanta has said in a filing to BSE. It said it intends to take legal recourse in the present matter before the appropriate forum. "The company is hopeful of a favorable outcome thereof and does not expect the said Order to have any material financial impact on the company," the filing said. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources companies spanning across India, South Africa, Namibia, Liberia, UAE, Korea, Taiwan and Japan with significant operations in oil and gas, zinc, le

Vedanta seeks global partner for $20 bn expansion across key segments

Mumbai-listed mining conglomerate Vedanta Ltd is hunting for a global partner for its USD 20-billion expansion projects spanning multiple segments. The company, in a statement, said the move aligns with Vedanta's strategic plans to significantly expand its operations over the next three years, as it restructures into four entities-- Vedanta Aluminium, oil and gas, power, and iron and steel. "We are looking for an experienced global engineering company with experience in engineering, procurement and construction management (EPCM) to implement our projects acting as an extended office to us," as per the Expression of Interest (EoI) on the company's official LinkedIn page. Further, the company said it will spend USD 20 billion on growth projects in metals and mining and hydrocarbons in the next three years. These projects are extensions of its existing operations, the company added. "The interested companies are invited to submit" their relevant experience, profile and current projec

Moment to unleash new generation of entrepreneurs, says Anil Agarwal

Despite India's immense natural wealth, he pointed out that 60 per cent of the country's imports are driven by natural resources such as oil, gas, gold, copper, and diamonds

Vedanta repays $900 mn loan, deleverages balance sheet by $550 mn

The loan, taken by subsidiary THL Zinc Ventures in May 2023 at 13.9 per cent interest, was partly repaid using funds from Vedanta's $1 billion June 2024 QIP

Vedanta to invest Rs 50,000 cr oil, gas in Assam, Tripura over 3-4 yrs

Mining major Vedanta Group chairman Anil Agarwal on Tuesday announced that it will pump in Rs 50,000 crore in Assam and Tripura's oil and gas sector over the next 3-4 years. Speaking at the inaugural function of the Advantage Assam investment summit here, he said group firm Cairn Oil & Gas has already invested around Rs 2,500 crore in the two states of the northeast region. "Assam has abundant natural resources and potential to become the world's mega basin. We are poised to play a pivotal role in Assam's sustainable growth and development," he said. Agarwal said that the company has firmed up plans to "invest Rs 50,000 crore in Assam and Tripura's oil and gas sector over the next 3-4 years". "With such an investment, we will produce 1,00,000 barrels of oil and gas per day, making the region a dominant hydrocarbon hub. It will also create direct and indirect employment opportunities for 1 lakh youths," he added.