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Latest News Billionaire Anil Agarwal-backed Vedanta stock has seen fruitful gains in 2024 so far, and its Q4 results emerged as another trigger for the upside as this metal giant crossed Rs 400 by the end of Apri 26 and stayed around the position. Vedanta is on the move to demerger into the ratio of 1:6, while its focus has been to enhance EBITDA by developing debts of parent Vedanta Resources. Following this, three brokerages have made recommendations, and only one namely Centrum has recommended buying for a target over Rs 430.
Vedanta Earnings: The company posted consolidated revenue of Rs 34,937 crore, flat sequentially, while its EBITDA rose by 3% QoQ to Rs 8,969 crore with an EBITDA margin of around 30%. PAT excluding exceptional items in Q4FY24, came in at Rs 2,453 crore. Further, Vedanta recorded a decline of 10% in its net debt to Rs 56,338 crore.
It said, "Deleveraging of Rs 6,155 crore QoQ, significantly improved Net Debt/EBITDA to 1.5x from 1.7x.
" Meanwhile, in FY24, the company posted the second-ever ever-highest annual consolidation revenue of Rs 141,793 crore, while EBITDA also came second-highest ever to Rs 36,455 crore, up 3%. In the fiscal, EBITDA margin improved to 30%, up ~240 bps. Vedanta also said that it posted the highest dividend yield of 17% per annum (5-year average), which is 10 times higher than Nifty 50 companies.
Accordingly, Vedanta paid Rs 18,572 crore dividend in FY24. Ajay Goel, Chief Financial Officer, Vedanta, said "Driven by operational ex.
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