Vedanta To Review Third Interim Dividend For FY 2021-22 On March 2

Vedanta Ltd, a large-cap company with a market capitalization of Rs. 1,25,659 Cr, is specialised in the mining and minerals industry. The firm is a subsidiary of Vedanta Resources Limited, which is one of the world's largest oil and gas and metals companies, having substantial businesses in oil and gas, zinc, lead, silver, copper, iron ore, steel, aluminium, and power in India, South Africa, and Namibia.

The company's Board of Directors will review and declare the third interim dividend on equity shares, if any, for the financial year 2021-22 on Wednesday, March 02, 2022.

In a stock exchange filing, the company declared on 23rd February 2022 that "Pursuant to Regulation 29 of Listing Regulations, Notice is hereby given that the Board of Directors of the Company (the "Board") on Wednesday, March 02, 2022, will consider and approve Third Interim Dividend on equity shares, if any, for the Financial Year 2021-22."

According to the company, the record date for determining the equity shareholders' entitlement to the said dividend, if announced, is set for Thursday, March 10, 2022.

The company has also added that "Further, pursuant to the provisions of the Securities & Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 and Insider Trading Prohibition Code of the Company, the Trading Window shall remain closed for dealing in securities of the Company for all Designated Persons from Thursday, February 24, 2022 to Friday, March 04, 2022 (both days inclusive)."

According to Vedanta minimum of 30% (including taxes, cess, and levies, if any relating to the dividend) of attributable profit after tax (before exceptional items) of the company excluding its share of profits in HindustanZinc Limited for the year. Such profits will be net of dividend payout to preference shareholders if any.

The company issued a second interim dividend of Rs 13.50 per equity share for the financial year 2021-22 on December 20, 2021, totaling Rs 5,019 crores. The company has an outstanding dividend track record for the last 5 years.

The company's stock soared from Rs. 213.60 on March 1, 2021 to Rs. 361.75 on February 25, 2022, 3:30 p.m. IST, resulting in a massive return of +148.15 (69.36 percent) in only one year. On a year-to-date (YTD) basis, the stock is ahead +7.95 (2.25 percent ). The stock has climbed by +69.15 (23.63 percent) in the past six months and by +33.55 (10.22 percent) in the last month. In the previous five days, the stock has gained +2.40 (0.67 percent), and on Friday's closing session, it was up by +23.70 (7.01 percent) on the NSE.

Recently on February 25, 2022, CRISILhas upgraded its rating for Vedanta to 'Stable' from 'Positive'. Currently the company has been rated CRISIL AA / Stable /CRISIL A1+ (upgraded from CRISIL AA-/ Positive / CRISIL A1+).

According to the company's Q3 statistics, it generated consolidated quarterly revenue of Rs. 33,697 crore, up 50% year on year, and the highest quarterly EBITDA of Rs 10,938 crore, up 42 percent year on year. While attributable profit after tax (PAT) was Rs 4,189 crore, up 27% year on year, the company also reported consolidated nine-month revenue of Rs 91,850 crore, up 56%, and highest-ever nine-month EBITDA of Rs 31,551 crore, increased 73%.

During the quarter, the company had a strong EBITDA margin of 37 percent, compared to 39 percent in Q3 FY2021 and 40 percent in Q2 FY2022. The company's gross debt was Rs 52,783 crore on December 31, 2021, down Rs 9,629 crore year on year, owing to deleveraging at Zinc India and the Aluminium segment. Also, on December 31, 2021, net debt was Rs 27,576 crore, down Rs 7,781 crore year on year (y-o-y). The company had Rs. 25,207 crore in cash and cash equivalents at the end of the third quarter, indicating a healthy level of liquidity.