Vedanta Group Q2: Zinc hits record high, power sales surge 26%; Oil output drops 19%

Vedanta's recently demerged businesses reported their Q2 FY27 business updated. One important trend that stood was aluminium, zinc, steel and power operations posted strong production and sales growth, while oil and gas output declined year-on-year.

Vedanta demerged its four key businesses effective May 1. Here is a look at the Q2 performance of the entities in detail.

Vedanta Q2 production: Zinc production hit record level

Vedanta limited, reported its highest-ever second-quarter and first-half refined metal production.

Zinc India's refined metal production rose 7% YoY to 264,000 tonnes in Q2FY27. The company attributed the increase to additional capacity unlocked through debottlenecking projects at Chanderiya and Dariba, along with the 160 KTPA roaster at Debari.

Zinc International production stood at 53,000 tonnes, up 9% from the previous quarter, supported by the stabilisation of operations at the Black Mountain Mining (BMM) plant.

However, Zinc International's total mined metal production fell 12% year-on-year to 53,000 tonnes in the second quarter.

Vedanta said Zinc International's Gamsberg Phase 2 was commissioned during the second quarter of FY27, with saleable production expected to begin from October 2026.

Vedanta's ports business also recorded its highest-ever first-half cargo handling, with discharge volumes rising 32% year-on-year to 4.185 million tonnes.

Dispatch volumes increased 18% year-on-year to 3.391 million tonnes during the first half of FY27.

In the second quarter, dispatch volume rose 26% year-on-year to 1.739 million tonnes. The company attributed the increase to improved operational efficiency and cargo flow, as well as stronger cargo evacuation performance.

Vedanta Aluminium Q2 update: Aluminium output rises 5%, alumina jumps 37%

Vedanta Aluminium Metal, reported record production of aluminium, alumina and value-added products in Q2.

The company produced 649,000 tonnes of aluminium in Q2 FY27, up 5% from 617,000 tonnes reported in Q2FY26. Production also rose 3% sequentially from 632,000 tonnes in Q1 FY27.

For the first half of FY27, aluminium production stood at 1.281 million tonnes, up 5% from 1.222 million tonnes in the same period last year.

Vedanta Aluminium's alumina production increased 37% year-on-year to a record 895,000 tonnes in Q2 FY27, compared with 653,000 tonnes recorded in Q2FY26.

Production was also higher than the 826,000 tonnes recorded in the previous quarter (Q1FY27). For the first half of FY27, alumina production stood at 1.721 million tonnes, up 39% from 1.24 million tonnes a year earlier.

The company attributed the increase to the ramp-up and stabilisation of its expansion circuit.

Vedanta Power Q2 update: Sales rise 26%

Vedanta Power said that its power sales rose by 26% to 5,593 million units (MU) in Q2FY27 from 4,433 MU recorded in Q2FY26..

The company recorded 10,817 million units of power sales in the first half of the current fiscal, registering a 32% YoY growth, as stronger plant performance and improved availability across its portfolio drove robust momentum, Vedanta Power said.

The growth was driven by a sharp increase in generation at Meenakshi Energy and a turnaround at Jharsuguda Thermal Plant.

At Meenakshi Energy, power sales increased 111% Y-o-Y to 1,470 million units in Q2, taking the overall sales in the first half of the fiscal year to 2,820 million units, up 160 per cent Y-o-Y.

The performance reflects operations of the expanded 1,000-MW capacity base, strengthening the plant's contribution to the company's overall generation portfolio.

The momentum was further supported by a turnaround at the Jharsuguda Thermal Plant, where power sales rose 186 per cent year-on-year to 873 million units in the September quarter.

Sales during the first half increased 59% to 1,559 million units. The plant's availability also improved sharply, with the plant availability factor rising to 98% in the quarter from 43% in the year-ago period, aiding higher generation and sales.

Alongside these growth drivers, the Talwandi Sabo Thermal Plant continued to provide a strong and consistent operating base for the portfolio.

Vedanta Oil & Gas Q2 Update: Production falls 19% YoY

Vedanta Oil and Gas reported a 19% YoY decline in average daily gross operated production to 72.2 thousand barrels of oil equivalent per day (kboepd) in Q1FY27, compared with 89.1 kboepd in the same quarter last year.

The company said production optimization initiatives and enhanced oil recovery projects at mature fields are aimed at arresting the decline and creating a pipeline for future growth.

"Arresting Base decline and building future growth funnel," Vedanta Oil & Gas said, adding that it continues to focus on production optimisation and enhanced oil recovery projects across its portfolio.

Vedanta Oil & Gas L First-half production lower

For the first half of FY27, Vedanta Oil and Gas reported average daily gross operated production of 74.9 kboepd, down 18% from 91.2 kboepd in the corresponding period last year.

Total gross oil and gas production during the first half stood at 13.7 million barrels of oil equivalent (million boe), down 18% from 16.7 million boe in the year-ago period.

On a working interest basis, production stood at 9.0 million boe in H1 FY27, compared with 10.9 million boe a year earlier, a decline of 17%.

Vedanta Oil & Gas said it is continuing to pursue near- to medium-term opportunities to increase production and reserves through production optimisation, enhanced oil recovery and other growth initiatives.

Vedanta Iron and Steel Q2: Saleable steel production rises 4% YoY; hot metal output up 3%

Vedanta Iron and Steel reported a 4% year-on-year (YoY) increase in saleable steel production to 532,000 tonnes in the second quarter of FY27, compared with 512,000 tonnes in the year-ago period.

Hot metal production also rose 3% YoY to 552,000 tonnes in Q2FY27 from 533,000 tonnes in Q2FY26, according to the company's production release.

Steel production

The company's total saleable production stood at 1.11 million tonnes in the first half of FY27, up 4% from 1.07 million tonnes in the same period last year.

Hot metal production during the first half of FY27 increased 3% YoY to 1.15 million tonnes from 1.12 million tonnes.

VISL said the lower saleable production in the September quarter compared with the June quarter was due to scheduled furnace maintenance.

Among individual products, pig iron production declined marginally by 1% YoY to 277,000 tonnes in Q2FY27 from 279,000 tonnes.

TMT bar production increased 12% YoY to 112,000 tonnes, while wire rod production remained unchanged at 108,000 tonnes.

Ductile iron pipe production saw a sharp increase of 225% YoY to 22,000 tonnes from 7,000 tonnes in the year-ago quarter. Billet production, however, fell 31% YoY to 12,000 tonnes.

Iron ore production

Saleable iron ore production declined 13% YoY to 1.52 million dry metric tonnes (DMT) in Q2FY27 from 1.75 million DMT in the year-ago quarter.

For the first half of FY27, saleable ore production stood at 4.16 million DMT, down 3% from 4.29 million DMT in H1FY26.

Production in Goa increased 22% YoY to 100,000 DMT in Q2, driven by the ramp-up of mining operations and higher processing capacity.

Odisha recorded a 34% YoY increase in saleable ore production to 910,000 DMT, supported by higher operational efficiency.

In Karnataka, saleable ore production declined 49% YoY to 510,000 DMT in Q2. The company said production was in line with its revised estimates and updated mine plan.

The Karnataka mines also produced 250,000 DMT of BHQ material during the quarter. This material is included in the overall Karnataka production and will be processed once the beneficiation plant is commissioned.

Vedanta Group's Q2 performance mixed

Vedanta's Q2FY27 operating updates showed a mixed performance across its businesses. Aluminium, zinc, steel and power operations recorded healthy growth in production or sales, supported by capacity expansion, debottlenecking, improved plant availability and operational efficiencies. However, the decline in oil and gas production remained a key weakness, with output falling both in the September quarter and the first half of FY27. The Anil Agrawal led Vedanta group will announce their Q2FY27 audited earnings later this month.