FY2015-16 in review

₹63,931 Cr REVENUE
₹15,012 Cr EBITDA
₹11,572 Cr FREE CASH FLOW POST GROWTH CAPEX
1.75 Mn PEOPLE BENEFITED THROUGH COMMUNITY DEVELOPMENT PROGRAMMES
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FY 2015-16 was a year of strong operational performance in which we achieved record production of aluminium, power, copper cathodes and zinc at Zinc India. We started the ramp-up of our capacities at aluminium and iron ore, and operationalised our entire power portfolio of 9,000 MW.
 

Disciplined

During the period of weak commodity prices, Vedanta maintained a disciplined approach to capital allocation, prioritising high-return low-risk projects to maximise cash flows. Our well-invested assets are on track to deliver near-term growth with marginal incremental capital expenditure. We retain the option to fund further growth projects, such as Enhanced Oil Recovery (EOR) and gas projects at Oil & Gas business, Lanjigarh alumina refinery expansion and the additional 400kt copper smelter at Copper India.

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Efficient

A relentless focus on operational efficiency has resulted in reduced cost of production across our businesses, mitigating the impact of falling commodity prices throughout the year.

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Focused

In line with the Group's long-term strategic priority to de-lever and increase cash flow, Vedanta continued to make good progress against these objectives. The focus on optimising operating and capital expenditure together with robust working capital management contributed to record free cash flow of ₹ 11,572 Crore after growth capex during FY 2015-16. This enabled reduction of ₹ 6,254 Crore in net debt, when compared to March 2015.

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Responsible

We continue to focus on embedding a culture of sustainability across the Group. This is an essential feature of our licence to operate. We believe that sustainability and long-term value creation go hand-in-hand. We deploy resources, impart skills and extend financial contributions to support our people; and the communities where we operate.

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We are committed to India’s focus on alleviating climate change.

Chairman's
Statement

Vedanta has delivered strong operational performance in
FY 2015-16 with relentless focus on cost discipline and improved productivity across all our operations that enabled us to deliver strong earnings and record cash flow. As a result, your Company reduced debt and strengthened its ability to withstand volatility in the tough and challenging commodities market during the year. Vedanta achieved all of this, while maintaining a disciplined approach to capital expenditure and cost optimisation.

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CEO's
message

This year we successfully lowered production costs across all businesses, while achieving record annual production at Zinc India and of Aluminium, Power and Copper cathodes. This is the result of our continued efforts to drive innovation, to optimise our existing low-cost operations across our Tier 1 assets that position us strategically to benefit from future demand in India and globally. Our focus has been and will continue to remain on deleveraging our balance sheet and maximising free cash flow.

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Vedanta will be a major participant in the building up of India.