Shares of Vedanta Limited slumped over 8 percent on Friday, April 4, despite the company reporting record production figures for aluminium and zinc in both the fourth quarter and fiscal year ending March 31, 2025. The decline in Vedanta’s stock price came amid a broader weakness in the market, as investors assessed factors beyond the company’s operational performance.
Strong Production Growth Across Key Segments
Vedanta announced on April 3 that it had achieved historic highs in aluminium and zinc production, while also witnessing robust growth in iron ore, steel, oil and gas, and power sales. Annual aluminium production reached 2,421 kt, reflecting a 2 percent year-on-year increase, with fourth-quarter output rising 1 percent. Alumina production also saw a 9 percent annual growth, supported by expansion projects, though temporary supply chain disruptions affected quarterly production before stabilizing towards the end of the period.
Zinc Hits Record Output
Zinc India reported its highest-ever mined metal production of 1,095 kt, while refined metal production stood at 1,052 kt—both registering a 2 percent increase over the previous year. Fourth-quarter mined metal production surged 17 percent sequentially, supported by higher ore grades at the Agucha and Zawar mines. Additionally, refined metal output climbed 4 percent, while saleable silver production saw a 10 percent rise during the quarter.
Vedanta’s Zinc International division recorded a 52 percent year-on-year jump in total mined metal production, with a 9 percent sequential increase. The Gamsberg mine played a significant role, with fourth-quarter production soaring 89 percent year-on-year and 15 percent sequentially due to improved recoveries. Copper India also delivered strong growth, with fourth-quarter production increasing by 41 percent year-on-year, contributing to an overall 6 percent annual rise.
Power Sales Surge as TSPL Achieves High Availability
Vedanta’s power business saw an 18 percent sequential jump in fourth-quarter sales. Talwandi Sabo Power Limited (TSPL) recorded total annual power sales of 10,230 million units, operating at an 81 percent plant availability factor.
