Vedanta Aluminium Metal Limited · NSE:VAML
Vedanta Aluminium Metal — Q2 FY2027 Earnings Presentation
34 slides from Vedanta Aluminium Metal's earnings presentation, Oct 28, 2026
Slide 1: Exchange letter: Outcome of Board Meeting
VAML/Sec./SE/26-27/54 October 28, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers “Exchange Plaza” Dalal Street, Fort Bandra-Kurla Complex, Bandra (East), Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 544780 Symbol: VAML Sub: Outcome of Board Meeting held on Octob
Slide 2: Vedanta Aluminium posts stellar Q2: Profit doubles to ₹6,187 Cr
Vedanta Aluminium posts stellar Q2: Profit doubles to ₹6,187 Cr, EBITDA rises 83% YoY • Revenue at ₹22,066 crore, up 41% YoY • 2nd consecutive quarter with EBITDA exceeding ₹10,000 crore achieved, despite softening in LME prices • Highest-ever quarterly aluminium production at 649 KT, up 5% YoY & 3%
Slide 3: Financial Performance (In ₹ Cr)
value-added products, enabling us to create enduring value for our stakeholders and meet the growing demand for aluminium.” Anup Agarwal, CFO, Vedanta Aluminium, said, “We sustained our earnings momentum in Q2, with revenue of ₹22,066 crore, EBITDA of ₹10,192 crore, and PAT of ₹6,187 crore. Importan
Slide 4: ESG Highlights and Awards & Recognitions
• Profit After Tax o PAT at ₹6,187 Cr, lower by 6% QoQ & up 105% YoY, reflecting EBITDA performance ESG Highlights • Vedanta Aluminium advanced its sustainability agenda in Q2 FY27, with renewable energy consumption increasing to 415 MW from 312 MW in Q2 FY26, taking renewable energy share to 9% fro
Slide 5: Earnings call details and investor contacts
Event Telephone Number +91 22 6280 1114 Universal Dial-In +91 22 7115 8015 India National Toll Free 1 800 120 1221 Canada 01180014243444 Earnings conference call on Hong Kong 800964448 October 28, 2026 from 5:00 Japan 00531161110 PM to 6:00 PM (IST) Netherlands 08000229808 International Toll Free* S
Slide 6: Earnings Presentation 2QFY27
Earnings Presentation 2QFY27 VEDANTA ALUMINIUM INDIA’S LARGEST PRODUCER OF THE ‘METAL OF THE FUTURE’
Slide 7: Table of Contents
1 Highlights 1 Quarterly & Half-Yearly Highlights ESG 2 Safety | Circularity | Energy | CSR Table of Business Performance 3 VAML Consol. | Refinery | Mines Contents Finance Update 4 P&L | Balance Sheet | Deleveraging 5 Appendix Sensitivity: Internal (C3)
Slide 8: Highlights
Highlights 2QFY27 Sensitivity: Internal (C3)
Slide 9: 2Q Highlights
Metal Production Hot Metal CoP EBITDA Margin 649 KT 1,722 $/T ~46% 2Q Highlights +3% QoQ +1% QoQ -356 bps QoQ +5% YoY -6% YoY +1056 bps YoY • Highest-ever Quarterly Aluminium production at 649 KT Revenue EBITDA PAT • Second Zone of 435 KTPA Project operationalized ₹22,066 Cr ₹10,192 Cr ₹6,187 Cr • R
Slide 10: 1H Highlights
Metal Production Hot Metal CoP EBITDA Margin 1281 KT 1711 $/T ~48% 1H Highlights +5% YoY -5% YoY +1464 bps YoY • Highest-ever Half-Yearly Aluminium production at 1281 KT Revenue EBITDA PAT • Record Half-Yearly Alumina production at 1721 KT ₹43,171 Cr ₹20,691 Cr ₹12,784 Cr • Mining Lease & Mine Openi
Slide 11: Environment, Social, & Governance
Environment, Social, & Governance
Slide 12: Zero Harm Journey
Safety Zero Harm Journey LTIs LTIFR HIPOs Zero Harm Priorities Q1 FY27 Q2 FY27 QoQ Q1 FY27 Q2 FY27 QoQ Q1 FY27 Q2 FY27 QoQ Vehicle-Pedestrian Safety 1 10 +9 0.04 0.48 +0.44 6 7 +1 Chemical Exposure Control ↑ Deteriorated ↑ Increased ↑ Increased Molten Material Safety Isolation & LOTO# Excellence 0.4
Slide 13: Strengthening ESG leadership through measurable impact
ESG Performance Strengthening ESG leadership through measurable impact Fly ash utilization RE-RTC consumed Trees planted Water recycling Specific GHG emissions 78% 415 MW 63K+ 17.81% 16.42 tCO₂e/t Monsoon impact – 68% in Renewable power Plantation completed in Circular water use Q2 FY27; RE share at
Slide 14: ESG Excellence & Energy Transition
ESG Excellence & Energy Transition Steady transition towards greener energy mix Q1 FY27 H1 FY27 FY27 321 MW 367 MW 400+ MW Environment Social Governance ✓ 78% Fly ash utilization in Q2 1.3 L+ Beneficiaries Zero Liquid Discharge Facilities GISTM # 415 MW RE-RTC# consumed in Q2 300+ Community Assets T
Slide 15: CSR Footprints
CSR Footprints . Community Assets Education Community Center, Hospital, Nand Ghar Community Halls, Parks, Roads, Digital Education Drains 1st English School in Lanjigada Women Empowerment Agriculture Active Self Help Groups Water structures built Women engaged in micro enterprises Land secured under
Slide 16: Marquee CSR Initiatives
Marquee CSR Initiatives COMMUNITY ASSETS DEVELOP LOCAL HANDLOOM 7 Model Villages across Jharsuguda, Community Build national-level Kosa Silk capability at BALCO Center, Hospital in Western Odisha, Roads, Parks and scale Sambalpuri handloom in Jharsuguda. STATE OF ART ARCHERY WATER SHED MANAGEMENT De
Slide 17: Business Performance
Business Performance 2QFY27
Slide 18: Driving growth, cost efficiency, and end-to-end integration
Vedanta Aluminium Metal Limited | Consolidated Driving growth, cost efficiency, and end-to-end integration Aluminium Production (kt) +5 % y-o-y Key Highlights: Jharsuguda 1222 1281 ▪ Highest ever Quarterly & Half-Yearly Aluminium BALCO 295 347 Production at 649 KT (+5% YoY) & 1,281 KT (+5% YoY) 617
Slide 19: Advancing towards Peak Operating levels
Alumina Refinery | Lanjigarh Advancing towards Peak Operating levels Alumina Production (kt) Key Highlights: +37% y-o-y ▪ Highest ever Quarterly & Half-Yearly Alumina Production at 895 KT (+37% YoY) & 1,721 KT (+39% YoY) 1721 respectively 1000+ 1240 ▪ Targeting 1000+ KT in Q3FY27 826 895 653 ▪ Mar’2
Slide 20: A Transformative Year: Bringing Mines Into Operation
Mines | Bauxite & Coal A Transformative Year: Bringing 3 Mines Into Operation Mine Key Milestones Target Commissioning a. Mining Lease has been executed Sijimali Bauxite Mine H2FY27 b. Consent To Operate (CTO) has been obtained Bauxite & Coal a. Mining Lease has been executed Kuraloi Coal Mine Q3FY2
Slide 21: Finance Update
Dy, 4 SS vedanta cluriniun Finance Update 2QFY27
Slide 22: Aluminium Profitability ($/t)
Aluminium Profitability ($/t) Hot metal cost 452 3,510 739 3,226 168 493 490 143 1,646 2QFY27 1722 $/t LME Strategic hedging Premium Realisation Alumina Power Other hot metal Conversion & EBITDA other Margin improved 1826 $/t 72% YoY 2QFY26 2,618 3 248 2,868 (824) (565) (437) (87) 955* 17 *Excluding
Slide 23: EBITDA Bridge 2QFY27 vs 2QFY26
EBITDA BRIDGE 2QFY27 vs 2QFY26 +83% Market factors: 67 % Operational factors: 26 % 1,210 10,192 1,405 9,321 214 -553 2,475 -141 5,582 Q2 FY26 LME Exchange Rate Commodity Rebased EBITDA Volume Cost & Marketing One off & Others Q2 FY27 44% 25% -3% 4% 22% -10% 18 Figures in ₹ Cr
Slide 24: EBITDA Bridge 2QFY27 vs 1QFY27
EBITDA BRIDGE 2QFY27 vs 1QFY27 -3% Market factors: -5 % Operational factors: 2% 10,499 553 10,192 137 312 9,962 -319 -5 -986 Q1 FY27 LME Exchange Rate Commodity Rebased EBITDA Volume Cost & Marketing One off & Others Q2 FY27 -9% 1% 3% 5% -3% 19 Figures in ₹ Cr
Slide 25: VAML Consol Net Debt Walk – 2QFY27 vs 1QFY27
VAML Consol Net Debt Walk – 2QFY27 vs 1QFY27 3,090 29,532 SA: ₹30,699 3,124 26,442 BALCO: (₹1,167) -171 1,546 SA: ₹28,920 31 BALCO: (₹2,478) -7,620 FCF: 6,043 ₹Cr Q1 FY27 CF from Ops. Working Capital Capex * Dividend Others Q2 FY27 20 *Including Sustaining Capex Figures in ₹ Cr SA: VAML Standalone
Slide 26: Balance Sheet & Debt Drawdown
Balance Sheet & Debt Drawdown ▪ Strong Liquidity: Cash and Cash Equivalents at ₹6,318 crore In $bn In In $bn In Gross Debt Q2 FY27 ₹ 000’ cr Q1 FY27 ₹ 000’ cr ▪ Net Interest*: Term debt 3.4 32.8 3.5 33.3 o Interest Expense ~8.8% WC/Short term borrowing 0.2 2.3 Total consolidated debt 3.4 32.8 3.8 35
Slide 27: Summary of Income Statement
Summary of Income Statement ▪ Depreciation & Amortization o Depreciation & Amortization at ₹802 crore, higher by 4% In ₹ Crore Q2’FY27 Q1’FY27 Q2’FY26 QoQ & 15% YoY, on account of project capitalization & routine capex investments Revenue from Operations 22,066 21,105 15,670 EBITDA 10,192 10,499 5,5
Slide 28: Digital & AI creating value across Vedanta Aluminium
Digital & AI creating value across Vedanta Aluminium Enterprise value and selected technologies across VAML operations 100+ Digital & AI Go-lives H1FY27 AI in Refinery & Power Plant Technology enabled Smelter Digital in Enabling Functions $4Bn eStore GMV VMB • IoT predictive maintenance • Integrated
Slide 29: Scaled, Integrated, & Differentiated Business
Scaled, Integrated, & Differentiated Business Positioned to unlock exponential value 3 MTPA1 | 6 MTPA2 $1,550–1,600/t1 90%+1 #2 Globally3 Aluminium capacity Hot Metal Cost Value Added Product S&P Global CSA rank Global positioning Integration unlocks potential Multiple value-creation levers Primary
Slide 30: Appendix
vedanta aluminium Appendix
Slide 31: VAML | Summary
VAML | Summary Quarter Half Year Particulars (in’000 tonnes, or as stated) 2QFY27 2QFY26 % YoY 1QFY27 1HFY27 1HFY26 %YoY Alumina – Lanjigarh 895 653 37% 826 1,721 1,240 39% Total Aluminum Production 649 617 5% 632 1,281 1,222 5% Jharsuguda 470 467 1% 464 934 927 1% Balco1 178 150 19% 168 347 295 18%
Slide 32: Project Capex | Update
Project Capex | Update Approved Spent upto Spent in Spent Unspent Capex in Progress (In Rs Cr) Capex FY26 1H FY27 Till Date as on 30th Sep’26 Coal & Bauxite Mines 7,146 1,584 404 1,988 5,158 (Kuraloi, Ghogharpalli, Radhikapur, Sijimali)* Lanjigarh Refinery: 2 to 5 MTPA 6,585 5,935 169 6,104 481 Balc
Slide 33: Guidance & Sensitivity
Guidance & Sensitivity Alumina 4.0 - 4.1 MnT Aluminium1 2.6 - 2.7 MnT Guidance CoP2 & 3 $1,650-$1,700/t Foreign currency - Impact of ₹1 depreciation in FX rate Currency Increase in EBITDA USD/INR ~₹ 675-725 crore/year Sensitivity Commodity Prices - Impact of 100 $/t movement in LME Commodity Q2FY27
Slide 34: Earnings Call Details
Earnings Call Details Event Telephone Number +91 22 6280 1114 Universal Dial-In +91 22 7115 8015 India National Toll Free 1 800 120 1221 Canada 01180014243444 Earnings conference call on October 28, 2026 Hong Kong 800964448 from 5:00 PM to 6:00 PM (IST) Japan 00531161110 Netherlands 08000229808 Inte
Vedanta Aluminium Metal — Q2 FY2027 Earnings Presentation on 6ix