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VEDL - Takeaways From My Review Of Vedanta's Annual Report
Vedanta Limited American Depositary Shares (Each representing four equity shares)
Introduction
When it comes to doing an in-depth analysis of Vedanta Ltd. (VEDL) there are a lot of moving pieces (currencies, subsidiaries, commodities, etc.). I had been waiting for the company to release their 2019 fiscal year annual report to do a comprehensive review and update. It came out recently and I spent many hours going through it and updating my financial model. At the same time, this review also required a review of Hindustan Zinc's 2019 fiscal year annual report. I wish Hindustan Zinc had a liquid trading vehicle in the U.S.