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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Record earnings and a cleaner balance sheet offer relief, but muted production growth, delayed projects and a heavy reliance on favourable commodity cycles could weigh on the newly demerged entities of Anil Agarwal’s mining-to-metals group.
Anil Agarwal-led Vedanta Ltd has peaked at the right time. On Wednesday, the flagship of Agarwal’s Vedanta Resources announced its fourth-quarter and annual results, breaking several records. This included its highest-ever revenue, net profit and EBITDA for a full financial year.
The company had capitalized on a spike in prices of zinc, silver and aluminium—its main products—driven by supply constraints following the Iran War. The higher prices have more than offset cost pressures, also accentuated by the conflict. The net gain is good news for Agarwal and Vedanta’s investors.
For an entrepreneur who has been under scrutiny for the better …
After a strong listing, Vedanta Aluminium Metal is running into some headwinds. Aluminium prices are easing, but the sharper challenge is rising competition from Kumar Mangalam Birla and Gautam Adani.
Despite a higher offer, creditors chose Gautam Adani’s Adani Enterprises—setting up a courtroom fight that raises questions over the bankruptcy resolution process’s priorities.
The silver rally has helped the primary cash generator of Agarwal’s mining empire return record numbers in Q3. Investors are pleased. But a few questions linger.
