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Vedanta Limited American Depositary Shares (Each representing four equity shares)
Vedanta Ltd. (VEDL) recently reported encouraging 3QFY20 numbers – net profit attributable to VEDL shareholders rose ~9% QoQ (~49% YoY) to INR23.5 billion or INR6.34 per share, on the back of improved EBITDA, which increased by ~45% QoQ (~10% YoY) to INR65.3 billion, representing an EBITDA margin of 34% (27% ex. customs & impact of one-offs). The operational improvement was aided by systematic and structural improvement in COP. Going forward, I expect VEDL’s planned ramp-up, easing cost pressures, and a potential rebound in commodity prices off a low base (specifically aluminum and steel)