The Central Pivot by Vineet Saxena (SEBI RA) ¡ 6th Jan
VEDL
upside momentum is backed by strong fundamentalsđ
Vedanta
VEDL
delivered a mixed but broadly stable operational performance in Q3 FY26, with steady growth across aluminium, zinc, iron ore, and power segments, partly offset by a marginal decline in finished steel output. Strong gains in zincâboth domestic and internationalâand a sharp rise in power sales highlight operational resilience and diversification across commodities.
â Aluminium output up 1% YoY to 620 kt; steady volume growth
â Zinc mined metal strong: Domestic +4% to 276 kt, International +28% to 59 kt
â Iron ore production rose 3% YoY to 1.6 mt; power sales surged 40% to 4,530 MU
â Finished steel dipped 1% YoY to 325 kt, a minor drag on overall performance
Overall, Vedantaâs diversified resource portfolio continues to provide volume stability and earnings support despite segment-wise fluctuations.