Vedanta Aluminium Metal Ltd(VAML)

NSE: VAMLBSE: 544780

₹ 344.5-4.09%refreshed 23 Oct, 03:51 pm ISTMarket cap: ₹ 1.35 L crNext results: 28 Oct 2026Website: vedantaaluminium.comUpdated: 24 Oct 2026

About

Vedanta Aluminium Metal Ltd (VAML) is an Indian primary aluminium producer that commenced as an independent listed entity following Vedanta Ltd's demerger effective May 1, 2026. It operates aluminium smelters, including a new BALCO smelter, and an alumina refinery at Lanjigarh in Odisha. In Q1 FY27, aluminium production reached a record 632 KT and consolidated revenue was ₹21,105 crore, with EBITDA of ₹10,499 crore at a 50% margin.^[1]

Production volumes

Aluminium production reached a record 632 KT in Q1 FY27, up 5% YoY and 3% QoQ, primarily driven by higher volumes from the new BALCO smelter.^[1]
Alumina production at Lanjigarh was 826 KT in Q1 FY27, up 41% YoY, aided by higher volumes from the 3 MTPA circuit expansion.^[1]
Value-added products (VAP) production hit a record 389 KT in Q1 FY27, up 14% YoY, reflecting continued focus on product mix enhancement.^[1]

Cost and returns

Hot metal cost of production was 1,698 $/t in Q1 FY27, down 4% YoY.^[1]
Alumina cost of production at Lanjigarh was 373 $/t in Q1 FY27, down 1% YoY.^[1]
EBITDA per tonne (aluminium) was 1,804 $/t in Q1 FY27, up 103% YoY.^[1]
ROCE was 42% on a trailing twelve-month basis as of Q1 FY27.^[1]

Operations and capacity guidance

The alumina refinery at Lanjigarh operates a 3 MTPA circuit expansion that drove a 41% YoY increase in alumina output in Q1 FY27; Q2 FY27 alumina production is targeted at 900+ KT.^[1]
FY27 full-year aluminium production guidance is 2.6 - 2.7 MnT.^[1]
FY27 full-year alumina production guidance is 4.0 - 4.1 MnT.^[1]
FY27 hot metal cost of production guidance is $1,650 - $1,700/t, with an additional $50 - $100/t war-related impact expected in H1 FY27.^[1]

Captive resource mix

Domestic bauxite accounted for 46% of the bauxite mix in Q1 FY27.^[1]
Serentica renewable energy capacity is targeted at 371 MW by FY27 exit.^[1]

Expansion and capex

Remaining unspent project capex across ongoing expansion projects was ₹7,146 crore as of Q1 FY27.^[1]
Kuraloi (A) North Coal Block: Mining Lease and Mine Opening Permission obtained; targeted for commissioning in Q2 FY27.^[1]
Sijimali Bauxite Mine: Environmental Clearance and FC-II granted by MoEF&CC; targeted for commissioning in H2 FY27.^[1]
Ghogharpalli Coal Mine is progressing and targeted for commissioning in H2 FY27.^[1]

Recent developments

VAML became an independent listed entity following Vedanta Ltd's demerger, effective May 1, 2026; Q1 FY27 figures cover the full April - June quarter.^[1]
Credit ratings upgraded to AA+ (Stable) by both CRISIL and ICRA, reflecting sustained performance improvements through Q1 FY27.^[1]
Net debt reduced by ₹3,481 crore in Q1 FY27; Net Debt/EBITDA improved to 0.9x from 1.3x in Q4 FY26. Net debt stood at ₹29,532 crore at end of Q1 FY27.^[1]
Board approved a maiden interim dividend of ₹8 per share in Q1 FY27.^[1]

Market Cap

₹1,34,713 Cr

High / Low

₹538 / 337

Book Value

₹0

EPS

₹0.0

No. of Shares

391.04 Cr

Sales

₹0 Cr

Net Profit

₹0 Cr

Promoter holding

56.4%

Loading chart…

Signal history

AI Deep Dive

The analysis Screener can't give you

Our models read the latest earnings call, annual report, and financials end-to-end - then grade management, value the business, and flag the risks. Unlock all of it for this company:

Verdict
The headline call - descriptive label, conviction, and the synthesis behind it.
Valuation
Guidance-anchored P&L bridge - worst / average / best multiple cases.
Walk the talk
Did management deliver on past guidance? A commitment-by-commitment scorecard.
Red flags
Forensic and governance risk pointers, severity-ranked.
Balance sheet
Solvency and earnings-quality score.
Concall briefs
Quarter-by-quarter earnings-call briefs - what changed and why.

₹49 unlocks this company for 90 days, ₹299 for a full year - bundles bring it lower. Built on public disclosures - educational, not investment advice.

AI Deep Dive

Verdict

Locked

The headline call - descriptive label, conviction, and the synthesis behind it.

Company data

Financials