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Vedanta Ltd sets a record for annual profits, with the spin-off restructuring plan officially taking effect
Investing.com — Indian mining giant Vedanta Ltd (NSE:VDAN) announced a record-breaking annual performance on Monday and announced that its long-planned spin-off restructuring plan has officially entered the implementation stage. The spin-off aims to split its various businesses into independent entities, thereby unlocking the overall value of the group.
As of March 31, the fiscal year, the company’s full-year net profit reached $2.8 billion, a 22% increase year-over-year; net profit in the fourth quarter nearly doubled, reaching $1 billion.
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The main drivers of performance growth come from rising commodity prices, strong performance in aluminum and zinc businesses, and continuous improvements in operational efficiency.
Vedanta’s full-year revenue grew by 15%, approaching $20 billion. Fourth-quarter revenue increased nearly 30% year-over-year, reaching $5.6 billion.
Vedanta also announced that the company’s spin-off restructuring plan officially took effect on May 1, marking an important milestone in the group’s structural adjustment. This restructuring will split the group into five independently managed business units, covering aluminum, oil and gas, power, steel, and basic metals and key minerals.
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The initial plan for the spin-off was proposed in 2023, aiming to simplify the group structure and enhance overall valuation by creating independent companies focused on specific sectors.
The company stated in its announcement that this spin-off is “a key step in unlocking group value by creating five competitive, independently scalable, and globally benchmarked world-class enterprises.”
Vedanta is controlled by billionaire Anil Agarwal, with operations spanning metals, mining, oil and gas, and energy sectors.
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