CORPORATE PRESENTATION
December 2023
VEDANTA LIMITED
TRANSFORMING TOGETHER
Inclusive. Responsible. Value-accretive delivery
Sensitivity: Internal (C3)
Vedanta Limited - Overview
Globally diversified natural resources powerhouse
Aluminium | Zinc-lead-silver | Oil & Gas | Iron & Steel | Power | Copper
Ferro Chrome | Nickel | Semiconductor and Display
$18 Bn
FY23 Revenue
$11 Bn
Dividend over the last decade
1st quartile
In cost curve across key segments Committed to
ESG leadership
"Net Zero by 2050 or sooner"
$32 Bn
$4.4 Bn
FY23 EBITDA
$14 Bn
Capex over the last decade
25+ years
Mine life
AA- rating
CRISIL and India Ratings
87,500+
Exchequer contribution in last 5 years Total Workforce
Group Structure
Listed Entities
VEDL Standalone Assets
Vedanta Resources Limited
Vedanta Limited (63.7%)
Vedanta Limited (63.7%) | Konkola Copper Mine (79.4%) | |
Aluminum
- Largest capacity in India with captive power and an alumina refinery
- Globally, 9th largest by smelting capacity
Lanjigarh Jharsuguda
Refinery Smelter
BALCO (51%)
Power
One of the largest private sector power generators
TSPL (100%)
Oil & Gas
- India's largest private sector crude oil producer
- Strong exploration fundamentals
Cairn Oil and Gas*
Zinc & Silver
- One of largest fully integrated zinc-lead players globally
- 5th largest silver producer
- Rampura Agucha - largest underground mine globally
- Gamsberg, one of the largest deposits in the world
Hindustan Zinc (64.9%)
Zinc International
Iron & Steel
- One of the largest Indian private sector exporter of iron ore
Sesa Iron Ore
Sesa Coke
ESL Steel (95.5%)
FACOR (99.99%)
Copper
- One of the largest custom smelters in India
Sterlite Copper
NICOMET
Avanstrate
(51.6%) Glass
Semiconductor and
Display (100%)
BALCO: Bharat Aluminium Corporation; TSPL: Talwandi Sabo Power Limited | 3 | |
Vedanta Limited | *50% share in the RJ Block is held by a subsidiary of Vedanta Limited | |
Investor Presentation December 2023
Investment Case
Vedanta is
uniquely
positioned to
deliver long
term sustainable
value
Vedanta Limited
Investor Presentation December 2023
1 | World-class natural resources | ||||||
powerhouse | |||||||
2 | Well positioned to capitalize on | ||||||
India's growth | |||||||
3 | Proven track record of operational | ||||||
excellence with well invested assets | |||||||
4 | frameworkDisciplined capital allocation | ||||||
5 | Committed to industry leadership | ||||||
in ESG | |||||||
6 Robust financial profile | |||||||
7 | Focused on digitalization and | ||||||
innovation to drive efficiency | |||||||
4
1a | World class diversified natural resource powerhouse | ||||
ALUMINIUM BUSINESS | |||||
LANJIGARH | JHARSUGUDA | KORBA | |||||
2 MTPA | 1.8 MTPA | 0.6 MTPA | |||
INDIA | ZINC-LEAD-SILVER BUSINESS | ||||
SMELTERS: CHANDERIYA → 675 KTPA | |||||
DARIBA→ 360 KTPA | |||||
DEBARI → 88 KTPA | |||||
MINES: RAMPURA AGUCHA | ZAWAR | | |||||
RAJPURA DARIBA | SINDESWAR | |||||
KHURD | KAYAD | |||||
EAST ASIA | |||||
Glass | OIL & GAS BUSINESS | ||||
UAE | INDIA | ||||
Fujairah Gold | MULTIPLE | MANGALA | RAVVA | CAMBAY | |||
LIBERIA | KG ON/OFFSHORE | ||||
IRON ORE PROJECT | COPPER BUSINESS | ||||
WESTERN CLUSTER | |||||
NAMIBIA | 2 | SILVASSA | TUTICORIN | |||
SCORPION MINE | 216 KTPA | 400 KTPA | |||
1 | |||||
2 | |||||
4 | |||||
2 | |||||
23 | POWER BUSINESS | ||||
2 | |||||
SOUTH AFRICA | |||||
COPPER | BLACK MOUNTAIN MINE | SALEM | TALWANDI SABO | |||
ALUMINIUM | GAMSBERG | 1,980 MW | |||
POWER | IRON ORE BUSINESS | ||||
IRON ORE | GOA | KARNATAKA | ORISSA | ||||
ZINC | |||||
OIL & GAS | 24 | OTHERS | |||
GLASS | 25 | ||||
GUJARAT | VAZARE | | |||||
MULTIPLE | |||||
26 | BOKARO | VIZAG | BHADRAK | ||||
Note: Maps not to scale; | 5 | ||||
Vedanta Limited | |||||
Investor Presentation December 2023 |
1b Tier-1low-cost and long-life assets with exploration upside
POSITIONING
Zinc India
Largest integrated zinc-lead producer
Zinc International
One of the largest undeveloped zinc deposits
Oil & Gas
India's largest private-sector crude oil producer
Silver
5th largest silver producer globally
Aluminium
Strategically located large-scale assets with integrated power
Steel
Integrated Steel Producer
Iron ore4
One of the largest exporter in India
R&R Life1 | FY2023 | FY2024e | Full Capacity2 | ||
Production | |||||
Production | |||||
25+ | 1,032kt | 1075-1100 kt | 1.2mtpa | ||
20+ | 273kt | 250-290 kt | 500ktpa | ||
143 | 135-140 | 3003 | |||
kboepd | kboepd | kboepd | |||
25+ | 22.9moz | ~24moz | 25mozpa | ||
2,291kt | ~2.3mnt | 2.8mtpa | |||
1.37mnt | 1.5 - 1.6 | 3.0mtpa | |||
mnt | |||||
5.4mnt | 7.5 - 8.5 | 12mnt | |||
mnt | |||||
Cumulative Production
Competitive Position on Cost Curve Quartiles5
I II III IV
Aluminium
Zinc
India
Zinc
International
Cost of Production
1. R&R life is as on 31st March 2023; 2. Includes announced expansions; 3. Expected capacity for currently producing assets and exploration; 4. Saleable | 6 | |
Vedanta Limited | production (Excluding IOO); 5. CY23e cost curve | |
Investor Presentation December 2023
2a Well-positioned to capitalise on India's economic growth & natural resources potential
India is amongst the fastest growing economy globally and is slated to be the world's third largest economy by 2027, as per IMF
Real GDP CAGR of World Largest Economies (2022 to 2028)
6.1% | 4.1% | |||||||||||||||||||||
1.8% | 1.7% | 1.4% | 1.4% | 1.2% | 0.9% | 0.9% | 0.7% | |||||||||||||||
India | China | US | Canada | France | UK | Germany | Italy | Russia | Japan |
India will be a key driver for the demand for commodities
Global Demand CAGR (2022-2030) | India Demand CAGR (2022-2030) |
Vedanta is significantly invested in metals critical to economic
development and to the energy transition
Growth in demand for Minerals from Energy Technologies (2022 - 2050)
Copper
Aluminium
Zinc
Oil & Gas
Finished Steel
Iron Ore
2.4% | Copper |
2.0% | Aluminium |
1.6% | Zinc |
1.0% | Oil & Gas |
0.8% | Finished Steel |
0.1% | Iron Ore |
9.5%
4.1%
5.9%
4.2%
5.2%
4.5%
Fe | Al | Cu | Zn |
3.2x | 4.2x | 3.1x | 3.3x |
Pb | Ni | Ag | Steel |
3.4x | 1.8x | 4.5x | 1.2x |
• Source: IMF, Woodmac
Vedanta Limited | • Notes: Information displayed is related to VEDL consolidated business |
Investor Presentation December 2023 | |
3a Proven track record of operational excellence
Zinc-Lead | Silver | Copper | Aluminium | Steel | Power | Iron Ore | Oil & Gas | |||||||||||||
2,000 | ||||||||||||||||||||
(kt) | 1,800 | |||||||||||||||||||
1,600 | ||||||||||||||||||||
Equivalent | ||||||||||||||||||||
1,400 | ||||||||||||||||||||
1,200 | ||||||||||||||||||||
Copper | ||||||||||||||||||||
1,000 | ||||||||||||||||||||
Production | 800 | |||||||||||||||||||
600 | ||||||||||||||||||||
400 | ||||||||||||||||||||
Total | ||||||||||||||||||||
200 | ||||||||||||||||||||
0 | FY2015 | |||||||||||||||||||
FY2004 | FY2005 | FY2006 | FY2007 | FY2008 | FY2009 | FY2010 | FY2011 | FY2012 | FY2013 | FY2014 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 |
Strong EBITDA Performance
$ 4.4 bn
$0.3 bn
FY2004FY2023
Vedanta Limited
Investor Presentation December 2023
All commodity and power capacities rebased to Copper equivalent capacity (defined as production x commodity price / copper price) using average commodity prices for FY 2023. Power rebased using FY 2023 realisations, Copper custom smelting production rebased at TC/RC for FY 2023, Iron ore volumes refers to sales with prices rebased at realized prices for FY 2023
8
3b Well invested and consolidated assets driving growth
Tuticorin Smelter | Vedanta IPO |
Acquired Australian Cu | Acquired KCM |
170 kt Zinc smelter | |
mine | |
Acquired BALCO | 50 kt Pb smelter |
Acquired HZL | 150 MW Power Plant |
Acquired SESA Goa
Commissioned 245 kt Al smelter and 540 MW CPP at BALCO
Commissioned 500kt VAL smelter
Commissioned 1,980MW | |||
TSPL | Acquired ESL | ||
Acquired Cairn India | Expansion of | Zinc India | Acquired FACOR |
to 1.12 mtpa and | |||
Acquired ZI | Acquired Nicomet | ||
Gamsberg to 250kt | |||
Commissioned 210kt | Entering Semiconductor | ||
Commissioned 1250kt | |||
Zn smelter | and Display business | ||
JSG smelter | |||
Pre | FY | FY | FY | FY | FY20 - |
IPO | 04-06 | 07-09 | 10-12 | 13-19 | till date |
Sensitivity: Internal (C3)
Aluminium Business
Vision
"Be 3 MTPA Aluminium producer with best-in-class cost position "
Vedanta Aluminium
Business to be:
100% integrated aluminum producer
First quartile cost curve producer
Top 3 primary Aluminium producer in the world ex-China
Producer with 30% low carbon 'green' Aluminium mix
- digitally-enabledoperator
Focused on sustainable operations
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Disclaimer
Vedanta Limited published this content on 19 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 December 2023 07:47:09 UTC.