Vedanta

Known as Sesa Sterlite even now on the bourses even after the company changed the name officially, the company posted a dismal set of numbers for Q4FY15. Falling crude prices, poor performance of Cairn India and exceptional expense of Rs.19956 crore, pushed the company into a loss. The company ended the quarter with a net loss at Rs.19,228 crore v/s net profit of Rs.1587 crore in Q4FY14. But before taking into consideration the exceptional expense, the company’s net profit was at Rs.491 crore, down 72% (YoY) and down 69% (QoQ). The exceptional expense includes a one-time non-cash impairment charge of acquisition goodwill (Cairn India), largely relating to the oil & gas business (Rs 19,180 crore) and the Sri Lanka block (Rs 505.20 crore) on account of a steep fall in crude oil prices. Forex loss for the quarter was at Rs.184 crore.

EBITDA for quarter was at Rs.4013 crore, down 40% and EBITDA margin was down from 35.04% to 22.54%. Oil and gas revenue for the quarter was down 47% while EBIT was down 98%.  Poor performance of zinc was also a contributor – with a 44% drop in revenue and it had a loss at EBIT level of Rs.47 crore. Vedanta owns 65% stake in Hind Zinc and 59% in Cairn India.

The company ended FY15 with a loss of Rs.15,646 crore v/s net profit of Rs.1587 crore.