0001193125-22-257132.txt : 20221004 0001193125-22-257132.hdr.sgml : 20221004 20221004060701 ACCESSION NUMBER: 0001193125-22-257132 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20221003 FILED AS OF DATE: 20221004 DATE AS OF CHANGE: 20221004 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Vedanta Ltd CENTRAL INDEX KEY: 0001370431 STANDARD INDUSTRIAL CLASSIFICATION: METAL MINING [1000] IRS NUMBER: 000000000 STATE OF INCORPORATION: K7 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33175 FILM NUMBER: 221289675 BUSINESS ADDRESS: STREET 1: FLR1, 103-C WING, ATUL PROJECT, CHAKALA, STREET 2: ANDHERI (EAST) CITY: MUMBAI STATE: K7 ZIP: 400 093 BUSINESS PHONE: 91-832-2460600 MAIL ADDRESS: STREET 1: FLR1, 103-C WING, ATUL PROJECT, CHAKALA, STREET 2: ANDHERI (EAST) CITY: MUMBAI STATE: K7 ZIP: 400 093 FORMER COMPANY: FORMER CONFORMED NAME: SESA STERLITE LTD DATE OF NAME CHANGE: 20130920 FORMER COMPANY: FORMER CONFORMED NAME: SESA GOA Ltd DATE OF NAME CHANGE: 20130820 FORMER COMPANY: FORMER CONFORMED NAME: STERLITE INDUSTRIES (INDIA) LTD DATE OF NAME CHANGE: 20060726 6-K 1 d438144d6k.htm FORM 6-K FORM 6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

of the Securities Exchange Act of 1934

For the month of October 2022

Commission File 001 — 33175

 

 

Vedanta Limited

(Exact name of registrant as specified in the charter)

1st Floor, ‘C’ wing, Unit 103,

Corporate Avenue, Atul Projects,

Chakala, Andheri (East),

Mumbai-400 093

Maharashtra, India

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F  ☒                Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

 

 

 


Please find enclosed herewith the Production Release of the Company for the second quarter and half year ended September 30, 2022 as Exhibit 99.1

 

Exhibit 99.1 :

  Production Release of the Company for the second quarter and half year ended September 30, 2022


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: October 03, 2022

 

VEDANTA LIMITED
By:   /s/ Prerna Halwasiya
Name:   Prerna Halwasiya
Title:   Company Secretary & Compliance Officer
EX-99.1 2 d438144dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

Vedanta Limited

Regd. Office: Vedanta Limited 1st Floor, ‘C’ Wing,

Unit 103, Corporate Avenue, Atul Projects,

Chakala, Andheri (East),

Mumbai 400093, Maharashtra.

www.vedantalimited.com

CIN: L13209MH1965PLC291394

Production Release for the Second Quarter and Half Year ended 30th September 2022

New Delhi, 3rd Oct 2022:

Aluminium:

 

Particulars
(In “000 tonnes, or as stated)

   2Q     1Q     1H  
   FY23      FY22      %
Change
    FY23      %
Change
    FY23      FY22      %
Change
 

Alumina- Lanjigarh

     454        511        (11 %)      485        (6 %)      939        993        (5 %) 

Total Aluminium Production

     584        570        2     565        3     1150        1,118        3

Jharsuguda

     443        424        5     423        5     867        828        5

BALCO

     141        146        (4 %)      143        (1 %)      283        291        (3 %) 

 

2QFY23:

  o

Alumina production at Lanjigarh refinery decreased by 11% YoY and 6% QoQ to 454,000 tonnes due to scheduled maintenance.

 

  o

The cast metal Aluminium production at our smelters increased by 2% YoY and 3% QoQ

 

1HFY23:

  o

Alumina production at Lanjigarh refinery decreased by 5% YoY due to scheduled maintenance in 2QFY23.

 

  o

The cast metal Aluminium production at our smelters increased by 3% YoY.

Zinc India:

 

Particulars
(In ‘000 tonnes, or as stated)

   2Q     1Q     1H  
   FY23      FY22      %
Change
    FY23      %
Change
    FY23      FY22      %
Change
 

Mined Metal

     255        248        3     252        1     507        470        8

Integrated Saleable Metal

     246        209        18     260        (6 %)      506        445        13

- Refined Zinc

     189        162        16     206        (8 %)      395        350        13

- Refined Lead

     57        47        21     54        5     110        95        16

Silver Integrated (in tonnes)

     194        152        28     177        10     371        313        19

Silver Integrated (in mn ounces)

     6.2        4.9        28     5.7        10     11.9        10.1        19

 

2QFY23:

 

  o

Highest-ever second quarter mined metal production at 255,000 tonnes, increased 3% YoY, driven by better grades and improved mill recoveries. Sequential growth of 1% QoQ was largely on account of better grades.

 

  o

Refined metal production at 246,000 tonnes, an increase of 18% YoY with improved smelter performance, better mined metal availability and base impact due to extended maintenance shutdown in the same period last year. However, refined metal was lower by 6% QoQ due to lower roaster availability owing to breakdown of an acid storage tank at Chanderiya plant in 2QFY23 and time taken in ramp up of production post maintenance.

 

  o

Integrated zinc production was at 189,000 tonnes, up 16% YoY and down 8% QoQ. Refined lead production was 57,000 tonnes, up 21% YoY and 5% QoQ. Saleable silver production was 194 tonnes, up 28% YoY and 10% QoQ in line with lead metal production and WIP liquidation.

 

1HFY23:

 

  o

First half mined metal production at 507,000 tonnes was higher by 8% YoY, on account of increase in ore production, further supported by better grades & improved operational efficiency.

 

Registered Office: Vedanta Limited 1st Floor, ‘C’ Wing, Unit 103, Corporate Avenue, Atul Projects, Chakala,

Andheri (East), Mumbai 400093, Maharashtra, India.

CIN: L13209MH1965PLC291394

  Page | 1


   Production Release for the Second Quarter and Half Year ended 30th September 2022

 

 

 

  o

First half refined metal production at 506,000 tonnes, was up 13% YoY, resulting from consistent mined metal flow from mines and better plant availability partly offset by acid storage tank breakdown at Chanderiya plant in 2QFY23.

 

  o

1HFY23 integrated zinc production was at 395,000 tonnes, up 13% YoY and refined lead production was at 110,000 tonnes, up 16% YoY. Saleable silver production was 371 tonnes, up 19% YoY in-line with lead metal production.

Zinc International:

 

Particulars
(In “000 tonnes, or as stated)

   2Q     1Q     1H  
   FY23      FY22      %
Change
    FY23      %
Change
    FY23      FY22      %
Change
 

Total Mined Metal

     74        55        35     68        9     141        116        22

Mined Metal Content – Gamsberg

     55        39        43     53        4     108        85        27

Mined Metal Content – BMM*

     19        16        16     15        25     33        31        8

*BMM – Black Mountain mine

 

2QFY23:

 

  o

Overall production increased by 35% YoY and 9% QoQ to 74,000 tonnes in line with ramp-up at Gamsberg.

 

  o

Gamsberg registered 43%YoY and 4% QoQ production growth to achieve quarterly production of 55,000 tonnes; supported by higher tonnes treated and higher Zinc recoveries.

 

  o

BMM production was up 16% YoY supported by higher lead grades and 25%QoQ in line with higher throughput and Lead grades.

 

1HFY23:

 

  o

Overall production increased by 22% YoY to 141,000 tonnes with higher Zinc recoveries at Gamsberg.

 

  o

Gamsberg production was higher by 27% YoY at 108,000 tonnes, mainly attributable to higher throughput, ore grade and Zinc recoveries.

 

  o

BMM production was higher by 8% YoY at 33,000 tonnes, resulting from higher grade of Lead.

Oil & Gas:

 

Particulars

   2Q     1Q     1H  
   FY23      FY22      %
Change
    FY23      %
Change
    FY23      FY22      %
Change
 

Average daily gross operated production (boepd)

     140,471        165,327        (15 %)      148,104        (5 %)      144,267        165,114        (13 %) 

Rajasthan

     120,805        141,766        (15 %)      127,815        (5 %)      124,291        140,787        (12 %) 

Ravva

     9,952        14,282        (30 %)      10,990        (9 %)      10,468        14,471        (28 %) 

Cambay

     9,657        9,279        4     9,209        5     9,434        9,856        (4 %) 

OALP

     57        —          —         90        (36 %)      73        —          —    

Average daily working interest production (boepd)

     91,174        106,707        (15 %)      96,206        (5 %)      93,676        106,288        (12 %) 

Rajasthan

     84,563        99,236        (15 %)      89,471        (5 %)      87,004        98,551        (12 %) 

Ravva

     2,239        3,213        (30 %)      2,473        (9 %)      2,355        3,256        (28 %) 

Cambay

     3,863        3,712        4     3,684        5     3,774        3,942        (4 %) 

KG-ONN 2003/1

     451        546        (17 %)      489        (8 %)      470        538        (13 %) 

OALP

     57        —          —         90        (36 %)      73        —          —    

Total Oil and Gas (million boe)

                           

Oil and Gas – Gross

     12.9        15.2        (15 %)      13.5        (4 %)      26.4        30.2        (13 %) 

Oil and Gas – Working Interest

     8.4        9.8        (15 %)      8.8        (4 %)      17.1        19.5        (12 %) 

boepd: barrels of oil equivalent per day

 

Registered Office: Vedanta Limited 1st Floor, ‘C’ Wing, Unit 103, Corporate Avenue, Atul Projects, Chakala,

Andheri (East), Mumbai 400093, Maharashtra, India.

CIN: L13209MH1965PLC291394

  Page 2 of 6


   Production Release for the Second Quarter and Half Year ended 30th September 2022

 

 

 

2QFY23:

 

  o

Overall average gross operated production was 140,471 boepd. Rajasthan block’s average gross production was 120,805 boepd. Gross production from Development Area-1 (DA-1), Development Area-2 (DA-2) and Development Area-3 (DA-3) averaged 105,082 boepd, 15,575 boepd and 147 boepd; respectively. The natural decline in the MBA fields has been partially offset by infill wells brought online in Mangala, Bhagyam and RDG fields.

 

  o

Gas production from Raageshwari Deep Gas (RDG) averaged 136.3 million standard cubic feet per day (mmscfd) (equivalent to 22.7 kboepd); Gas sales post captive consumption at 113.4 mmscfd (equivalent to 18.9 kboepd).

 

  o

Ravva block’s average gross production was 9,952 boepd.

 

  o

Cambay block’s average gross production was higher by 5% QoQ and 4% YoY at 9,657 boepd.

 

1HFY23:

 

  o

Overall average gross operated production across our assets was 144,267 boepd.

 

  o

Production from Rajasthan block was 124,291 boepd and from the Offshore assets was at a combined 19,902 boepd. The natural decline has been partially offset by infill wells brought online across all assets.

Iron ore:

 

Particulars

(In dmt, or as stated)

   Q2     Q1     H1  
   FY 23      FY 22      %
Change
    FY 23      %
Change
    FY 23      FY 22      % Change  

Sales (mn tonnes)

     1.34        1.31        2     1.26        6     2.59        2.95        (12 %) 

Goa

     0.04        0.09        (59 %)      0.35        (90 %)      0.39        0.48        (18 %) 

Karnataka

     1.30        1.22        7     0.91        43     2.20        2.47        (11 %) 

Production of Saleable Ore (mn tonnes)

                           

Karnataka

     1.08        1.30        (17 %)      1.26        (14 %)      2.34        2.75        (15 %) 

Production of Pig Iron (‘000 tonnes)

     121        208        (42 %)      189        (36 %)      309        410        (24 %) 

 

2QFY23:

 

  o

Goa Iron Ore – there was no production as mining remained suspended pursuant to the Hon’ble Supreme Court judgement dated 7th February 2018.

 

  o

Karnataka Iron Ore – saleable ore production was lower by 17% YoY and 14% QoQ due to heavy rainfall which impacted Ore Handling.

 

  o

Pig Iron production was lower by 42% YoY and 36% QoQ due to shutdown in the smaller blast furnaces.

 

1HFY23:

  o

Karnataka Iron Ore – saleable ore production was lower by 15% due to heavy rainfall in 2QFY23.

 

  o

Pig Iron production was lower by 24% due to shutdown of blast furnaces

Steel:

 

Particulars

(In ‘000 tonnes, or as stated)

   2Q     1Q     1H  
   FY23      FY22      % Change     FY23      % Change     FY23      FY22      % Change  

Finished Production

     325        293        11     269        21     594        582        2

Pig Iron

     47        38        24     33        41     80        90        (11 %) 

Billets Produced

     235        219        7     196        20     431        430        —    

Billets Consumed

     (227      (159      42     (195      15     (423      (346      22

TMT Bar

     118        66        80     106        9     227        155        47

Wire Rod

     103        90        14     84        23     187        183        2

Ductile Iron Pipes

     48        40        21     44        9     93        72        30

 

 

Registered Office: Vedanta Limited 1st Floor, ‘C’ Wing, Unit 103, Corporate Avenue, Atul Projects, Chakala,

Andheri (East), Mumbai 400093, Maharashtra, India.

CIN: L13209MH1965PLC291394

  Page 3 of 6


   Production Release for the Second Quarter and Half Year ended 30th September 2022

 

 

 

2QFY23:

 

  o

Total saleable production increased by 11% YoY to 325,000 tonnes on account of completion of debottlenecking activities in 1QFY23. Saleable production increased by 21% QoQ due to shut down of Blast Furnace-3- for debottlenecking activities in 1QFY23.

 

1HFY23:

 

  o

Total saleable production increased by 2% YoY to 594,000 tonnes.

FACOR:

 

Particulars

(In “000 tonnes, or as stated)

   2Q     1Q     1H  
   FY23      FY22      %
Change
    FY23      %
Change
    FY23      FY22      %
Change
 

Ore Production

     34        24        43     140        (76 %)      174        147        18

Ferro Chrome Production

     11        19        (42 %)      18        (39 %)      29        38        (22 %) 

 

2QFY23:

 

  o

Ore production was higher by 43% YoY through operational efficiencies, however, down 76% QoQ due to monsoon.

 

  o

Ferro Chrome production was lower on account of planned maintenance shutdown of Furnace in 2QFY23.

 

1HFY23:

 

  o

Ore production higher by 18% YoY driven by operational efficiencies.

 

  o

Ferro Chrome production was lower by 22% YoY in line with planned maintenance shutdown of Furnace in 2QFY23.

Copper – India:

 

Particulars

(In ‘000, or as stated)

   2Q     1Q     1H  
   FY23      FY22      %
Change
    FY23      %
Change
    FY23      FY22      %
Change
 

Copper Cathodes

     41        30        39     38        8     80        58        37

 

2QFY23:

 

  o

Our Silvassa refinery and wire rod plant continue to operate. This enables us to cater to the domestic market. Production from the Silvassa refinery increased by 39%YoY and 8% QoQ in line with continuous debottlenecking and improved operational efficiencies.

 

1HFY23:

 

  o

Production from the Silvassa refinery increased by 37% YoY in line with continuous debottlenecking and improved operational efficiencies.

 

  o

Tuticorin Smelting operations remain halted since April 2018. The Tamil Nadu Pollution Control Board (TNPCB), through an order dated 9th April 2018, rejected the Consent to Operate (CTO) for the Plant and issued a direction for closure and disconnection of power supply at the plant. In May 2018, the Government of Tamil Nadu issued orders with a direction to permanently seal the existing copper smelter plant at Tuticorin. The matter is currently under sub judice before the Supreme Court and next hearing is yet to be notified.

 

Registered Office: Vedanta Limited 1st Floor, ‘C’ Wing, Unit 103, Corporate Avenue, Atul Projects, Chakala,

Andheri (East), Mumbai 400093, Maharashtra, India.

CIN: L13209MH1965PLC291394

  Page 4 of 6


   Production Release for the Second Quarter and Half Year ended 30th September 2022

 

 

 

Power:

 

Particulars

(In million units)

   2Q     1Q     1H  
   FY23     FY22     %
Change
    FY23     %
Change
    FY23     FY22     %
Change
 

Total Power Sales

     3,615       2,905       24     3,577       1     7,192       5,621       28

TSPL

     2,843       1,791       59     2,590       10 %     5,433       3,419       59

Jharsuguda 600 MW

     634       760       (17 %)      837       (24 %)      1,471       1,305       13

BALCO 300 MW

     14       199       (93 %)      —         —         14       608       (98 %) 

HZL Wind Power

     124       155       (20 %)      150       (17 %)      274       289       (5 %) 

TSPL Availability

     88     60     —         77     —       82     59     —    

TSPL PLF

     70     44     —         64     —       67     42     —    

 

2QFY23:

 

  o

Overall power sales increased by 24%YoY and 1%QoQ to 3,615 million units.

 

  o

At TSPL, the Power Purchase Agreement with the Punjab State Electricity Board compensates us based on the availability of the plant. TSPL power sales was 2,843 million units with 88% plant availability factor in 2QFY23.

 

  o

At Jharsuguda, power sale was 634 million units, down 17% YoY and 24% QoQ.

 

  o

At Balco, power sale was 14 million units in 2QFY23.

 

  o

Wind power generation was 124 million units, down 20% YoY and 17% QoQ. The wind power generation depends upon wind velocity and seasonality.

 

1HFY23:

 

  o

At TSPL, power sale was 5,433 million units with 82% plant availability factor.

 

  o

At Jharsuguda, power sale was 1,471 million units, up 13% YoY.

 

  o

At Balco, power sale was 14 million units in 1HFY23.

 

  o

Wind power generation was 274 million units, marginally down 5% YoY. The wind power generation depends upon wind velocity and seasonality.

 

Registered Office: Vedanta Limited 1st Floor, ‘C’ Wing, Unit 103, Corporate Avenue, Atul Projects, Chakala,

Andheri (East), Mumbai 400093, Maharashtra, India.

CIN: L13209MH1965PLC291394

  Page 5 of 6


   Production Release for the Second Quarter and Half Year ended 30th September 2022

 

 

 

About Vedanta Limited:

Vedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world’s leading Oil & Gas and Metals company with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, and Aluminium & Power across India, South Africa and Namibia. For two decades, Vedanta has been contributing significantly to nation building. Governance and sustainable development are at the core of Vedanta’s strategy, with a strong focus on health, safety, and environment. Vedanta has put in place a comprehensive framework to be the ESG leader in the natural resources sector. Vedanta is committed to reducing carbon emissions to zero by 2050 or sooner and has pledged $5 billion over the next 10 years to accelerate the transition to net zero operations. Giving back is in the DNA of Vedanta, which is focused on enhancing the lives of local communities. The company’s flagship social impact program, Nand Ghars, have been set up as model anganwadis focused on eradicating child malnutrition, providing education, healthcare, and empowering women with skill development. Under the aegis of the Anil Agarwal Foundation, the umbrella entity for Vedanta’s social initiatives, the Vedanta group has pledged Rs 5000 crore over the next five years on social impact programs with a thrust on nutrition, women & child development, healthcare, animal welfare, and grass-root level sports. Vedanta and the group companies have been featured in Dow Jones Sustainability Index, and was conferred Frost & Sullivan Sustainability Awards 2020, Golden Peacock Award for excellence in Corporate Governance 2022 and certified as a Great Place to Work 2022. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange.

For more information, please visit www.vedantalimited.com

Vedanta Limited

Vedanta, 75, Nehru Road,

Vile Parle (East), Mumbai – 400 099

www.vedantalimited.com

Registered Office:

Regd. Office: 1st Floor, ‘C’ wing, Unit 103,

Corporate Avenue, Atul Projects,

Chakala, Andheri (East),

Mumbai – 400 093

CIN: L13209MH1965PLC291394

Disclaimer

This press release contains “forward-looking statements” – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should” or “will.” Forward–looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional, and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.

For any Investor enquiries, please contact:

Mr. Sandep Agrawal, Vice President – Head of Investor Relations (Sandep.Agrawal@vedanta.co.in)

For any media queries, please contact:

Mrs. Ritu Jhingon, Group Director – Communications (Ritu.Jhingon@vedanta.co.in)

Mr. Abhinaba Das, Group Head – Media Relations (Abhinaba.Das@vedanta.co.in; +91-9820426346)

 

Registered Office: Vedanta Limited 1st Floor, ‘C’ Wing, Unit 103, Corporate Avenue, Atul Projects, Chakala,

Andheri (East), Mumbai 400093, Maharashtra, India.

CIN: L13209MH1965PLC291394

  Page 6 of 6