Vedanta AGM 2026: Highlighting the conglomerate’s ambitious expansion strategy on Tuesday, July 14, Vedanta’s non-executive chairman Anil Agarwal reiterated that all five of the company’s demerged businesses possess the potential to achieve a valuation of $100 billion each.
This comes on the heels of the independent listings of Vedanta Aluminium Metal, Vedanta Power, Vedanta Oil & Gas, and Vedanta Iron & Steel, all of which spun off from the parent holding company, Vedanta Ltd, which remains listed as well.
Reflecting on the successful completion of Vedanta’s historic demerger, he mentioned each of the group’s five pure-play entities has the potential to become a $100 billion company.
Addressing shareholders at Vedanta Limited’s 61st Annual General Meeting (AGM), Agarwal said, “A year ago, you were shareholders of one integrated company. Today, you own five opportunities. Very few corporate transformations anywhere in the world have created such an opportunity for shareholders. And we believe this is only the beginning.”
Calling FY2026 a landmark year, Agarwal said, “This year, we recorded a record revenue of Rs 1,74,075 crore and the best-ever profit of Rs 25,096 crore.”
In FY2026, Vedanta also delivered highest-ever EBITDA of Rs 55,976 crore and a Net Debt/EBITDA ratio of 0.95x, which was the best in the last 14 quarters.
The first P of Vedanta’s strategy, Agarwal said, is the beginning of Vedanta Limited’s next phase of growth. He outlined plans to nearly triple zinc and lead production to 3 million tonnes by 2031, double silver output to 1,500 tonnes, expand copper production to 1 million tonnes by the end of the decade, increase ferrochrome capacity to 500,000 tonnes by FY2028, expand nickel production to 60,000 tonnes, and accelerate exploration across its ten critical mineral and strategic mineral blocks including lithium, cobalt, gold, copper, nickel, manganese, rare earths, and potash.
He also reiterated ambitious expansion plans across the demerged companies. “Vedanta Aluminium is a remarkable company…over the next three years, we will double our capacity to 60 lakh tonnes per year at the lowest cost in the world,” Agarwal stated.
At Vedanta Oil and Gas, the target is to produce 500,000 barrels per day and to achieve the target, the company will invest five billion dollars over the next three to five years, Agarwal said.
Vedanta Iron and Steel aims to grow from four million tonnes to 15 million tonnes annually with a focus on green steel and specialty steel, while Vedanta Power has a clear roadmap to expand to 20,000 MW and is also looking to foray into nuclear power, he added.
Highlighting technology as Vedanta’s strongest partner, Agarwal said, “The future belongs to companies that embrace technology. Artificial intelligence is transforming industries across the world. Technology is our best partner. Whether it is exploration, operations, sustainability, safety or productivity, we are deeply embedding technology across every one of our businesses. Our goal is simple: To become smarter. Faster. Safer. And better.”
Reaffirming Vedanta’s commitment to nation-building, Agarwal said, “This year alone, we contributed more than Rs 62,000 crore to India’s exchequer. Over the past decade, this contribution has been nearly ₹5,00,000 crore.”
He further added that Vedanta’s flagship social impact programme, Nand Ghar, which comprises modernized anganwadis, has 15,000 centres across 17 states and has the potential to benefit 10 crore women and children across India.
Speaking about India’s strategic opportunity, he said, “Resource security has now become national security… We are not just in the business of resources; we are in the business of building India.”
Concluding his address, Agarwal thanked shareholders for their continued trust and said, “Together, we have built one remarkable Vedanta. Together, we will now build five extraordinary futures. Vedanta Unlimited. Your trust is our greatest strength.”
