Kuala lumpur: Vedanta Resources Limited (VRL), a global transition metals, critical minerals, energy, and technology company, reported a stronger financial performance in the first half of fiscal year 2026 (H1FY26), with revenue increasing by eight percent to US$9.367 billion. This growth was driven by favorable commodity prices and operational efficiencies. (US$1=RM4.10)

According to BERNAMA News Agency, the company also experienced a six percent rise in earnings before interest, tax, depreciation, and amortization (EBITDA) to US$2.752 billion, while profit after tax before special items grew by seven percent to US$738 million. VRL's net debt to EBITDA ratio improved to 2.0 times, supported by cash and cash equivalents of US$2.628 billion. The return on capital employed remained steady at approximately 23 percent, demonstrating disciplined capital deployment across its portfolio.

In a statement, VRL announced the refinancing of US$550 million of high-cost debt, which reduced the overall interest cost to around 10 percent and extended the average maturity to roughly 4.5 years. During the first half, the company allocated nearly US$0.9 billion towards growth capital expenditure (capex) and achieved record production across various segments. Aluminium output increased by one percent to 1,222 kilotonnes (kt), alumina production rose by 19 percent to 1,240 kt, and Zinc India's mined metal production grew by one percent to 523 kt.

Konkola Copper Mines ramped up its operations following a restart, recording 41 kt of metal in concentrate and 51 kt of finished volumes. Additionally, the Vedanta group's aluminium company, BALCO, produced its first metal from what VRL described as India's most powerful 525-kiloampere smelter, while Lanjigarh in Odisha delivered the first alumina from its expanded refinery.

S and P Global and Moody's upgraded VRL's outlook to Positive, while Fitch affirmed its B+/Stable rating, citing an improved credit profile supported by refinancing progress and steady operational performance across subsidiaries.