Vedanta Delivers Record Alumina & Zinc Output in Q1 FY26; Ferro Chrome and Power Shine Amid Oil & Gas Dip

Vedanta Ltd has delivered a resilient operational performance for the quarter ended June 30, 2025 (Q1 FY26), showcasing strength across aluminium, zinc, and ferro alloys, despite challenges in oil & gas and refined metals. The standout performer this quarter was **Alumina**, with the Lanjigarh refinery clocking its **highest-ever quarterly production at 587 kt**, marking a solid **36% QoQ and 9% YoY growth**. This reflects improved supply chain efficiencies and strong plant stability. In the **Aluminium segment**, production remained steady at **605 kt**, up 1% YoY, signaling operational stability amid volatile market conditions. **Zinc International** posted a significant **50% YoY increase** in mined metal production, largely driven by the ramp-up at Gamsberg. Meanwhile, **Zinc India** recorded its **highest-ever Q1 mined metal output at 265 kt**, though refined zinc and lead volumes declined due to planned maintenance activities. The **Ferro Chrome segment** also saw a robust rebound, with a **150% QoQ surge in production**, supported by record ore output and the restart of a second furnace at FACOR. On the flip side, **Oil & Gas output dipped 17% YoY** due to lower volumes from Rajasthan and Ravva fields, slightly dampening the overall energy vertical performance. **Iron ore** production saw a revival with a **42% YoY growth**, aided by operational recovery in Goa and Karnataka, while **Pig Iron** saw stable improvement. **Power sales increased by 11% QoQ**, aided by improved plant load factors and the commissioning of Meenakshi’s 300MW phase. Overall, Vedanta’s Q1 numbers underscore its diversified asset base and operational agility. While certain verticals faced headwinds, the strong performance in aluminium, zinc, ferro chrome, and power positions the company well for the upcoming quarters. Investors will now look forward to margin trends and cost control measures in the upcoming financials.