Exhibit 99.1

Vedanta Limited

CIN no. L13209MH1965PLC291394

Regd. Office: Vedanta Limited, 1st Floor, ‘C’ wing, Unit 103, Corporate Avenue, Atul Projects, Chakala, Andheri (East), Mumbai–400093, Maharashtra

STATEMENT OF UNAUDITED CONSOLIDATED RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2022

     (₹ in Crore, except as stated)

		Quarter ended									Half year ended						Year ended
S. No.	Particulars	30.09.2022 (Unaudited)			30.06.2022 (Unaudited)			30.09.2021 (Unaudited)			30.09.2022 (Unaudited)			30.09.2021 (Unaudited)			31.03.2022 (Audited)
1	Revenue from operations		36,237			38,251			30,048			74,488			58,153			131,192
2	Other operating income		417			371			353			788			660			1,540
3	Other income		697			733			673			1,430			1,412			2,600
	Total income		37,351			39,355			31,074			76,706			60,225			135,332
4	Expenses
a)	Cost of materials consumed		10,666			10,774			8,167			21,440			16,374			37,172
b)	Purchases of stock-in-trade		1			12			0			13			88			133
c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade		769			(813	)		(200	)		(44	)		(966	)		(2,049	)
d)	Power and fuel charges		8,553			8,953			4,412			17,506			8,330			21,164
e)	Employee benefits expense		783			780			694			1,563			1,377			2,811
f)	Finance costs		1,642			1,206			1,066			2,848			2,248			4,797
g)	Depreciation, depletion and amortisation expense		2,624			2,464			2,118			5,088			4,242			8,895
h)	Other expenses		8,183			8,719			6,914			16,902			13,229			28,677
5	Total expenses		33,221			32,095			23,171			65,316			44,922			101,600
6	Profit before exceptional items and tax		4,130			7,260			7,903			11,390			15,303			33,732
7	Net exceptional gain/(loss) (Refer note 3)		234			—			(97	)		234			(327	)		(768	)
8	Profit before tax		4,364			7,260			7,806			11,624			14,976			32,964
9	Tax expense
	On other than exceptional items
a)	Net current tax expense		2,194			1,516			1,399			3,710			2,829			6,889
b)	Net deferred tax (benefit)/ expense, net of tax credits		(366	)		152			629			(214	)		1,168			2,544
	On exceptional items
c)	Net tax benefit on exceptional items (Refer note 3)		(154	)		—			(34	)		(154	)		(115	)		(178	)
	Net tax expense (a+b+c)		1,674			1,668			1,994			3,342			3,882			9,255
10	Profit after tax before share in (loss)/ profit of jointly controlled entities and associates		2,690			5,592			5,812			8,282			11,094			23,709
11	Add: Share in (loss)/ profit of jointly controlled entities and associates		(3	)		1			0			(2	)		1			1
12	Profit after share in (loss)/ profit of jointly controlled entities and associates (a)		2,687			5,593			5,812			8,280			11,095			23,710

(₹ in Crore, except as stated)

		Quarter ended									Half year ended						Year ended
S. No.	Particulars	30.09.2022 (Unaudited)			30.06.2022 (Unaudited)			30.09.2021 (Unaudited)			30.09.2022 (Unaudited)			30.09.2021 (Unaudited)			31.03.2022 (Audited)
13	Other Comprehensive (Loss)/ Income
i.	(a) Items that will not be reclassified to profit or loss		19			(38	)		15			(19	)		47			(3	)
	(b) Tax (expense)/ benefit on items that will not be reclassified to profit or loss		(3	)		1			(2	)		(2	)		(2	)		1
ii.	(a) Items that will be reclassified to profit or loss		(1,208	)		2,763			(220	)		1,555			151			893
	(b) Tax benefit/ (expense) on items that will be reclassified to profit or loss		687			(757	)		(6	)		(70	)		9			(28	)
	Total Other Comprehensive (Loss)/ Income (b)		(505	)		1,969			(213	)		1,464			205			863
14	Total Comprehensive Income (a + b)		2,182			7,562			5,599			9,744			11,300			24,573
15	Profit attributable to:
a)	Owners of Vedanta Limited		1,808			4,421			4,615			6,229			8,839			18,802
b)	Non-controlling interests		879			1,172			1,197			2,051			2,256			4,908
16	Other Comprehensive (Loss)/ Income attributable to:
a)	Owners of Vedanta Limited		(296	)		1,754			(181	)		1,458			212			823
b)	Non-controlling interests		(209	)		215			(32	)		6			(7	)		40
17	Total Comprehensive Income attributable to:
a)	Owners of Vedanta Limited		1,512			6,175			4,434			7,687			9,051			19,625
b)	Non-controlling interests		670			1,387			1,165			2,057			2,249			4,948
18	Net Profit after taxes, non-controlling interests and share in (loss)/ profit of jointly controlled entities and associates but before exceptional items		1,424			4,421			4,677			5,845			9,019			19,279
19	Paid-up equity share capital (Face value of ₹ 1 each)		372			372			372			372			372			372
20	Reserves excluding revaluation reserves as per balance sheet																	65,011
21	Earnings per share (₹) (*not annualised)
	-Basic		4.88	*		11.92	*		12.46	*		16.79	*		23.85	*		50.73
	-Diluted		4.85	*		11.84	*		12.38	*		16.69	*		23.70	*		50.38

(₹ in Crore)

		Quarter ended									Half year ended						Year ended
S. No.	Segment information	30.09.2022 (Unaudited)			30.06.2022 (Unaudited)			30.09.2021 (Unaudited)			30.09.2022 (Unaudited)			30.09.2021 (Unaudited)			31.03.2022 (Audited)
1	Segment Revenue
a)	Zinc, Lead and Silver
	(i) Zinc & Lead - India		6,999			8,066			4,914			15,065			10,131			24,418
	(ii) Silver - India		1,079			1,109			983			2,188			2,089			4,206
	Total		8,078			9,175			5,897			17,253			12,220			28,624
b)	Zinc - International		1,440			1,459			1,044			2,899			2,163			4,484
c)	Oil & Gas		3,869			4,083			2,892			7,952			5,377			12,430
d)	Aluminium		13,486			14,644			12,119			28,130			22,382			50,881
e)	Copper		4,011			4,215			3,560			8,226			7,059			15,151
f)	Iron Ore		1,506			1,367			1,492			2,873			3,068			6,350
g)	Power		1,844			1,770			1,276			3,614			2,501			5,826
h)	Others		2,245			1,856			1,832			4,101			3,473			7,972
	Total		36,479			38,569			30,112			75,048			58,243			131,718
Less:	Inter Segment Revenue		242			318			64			560			90			526
	Revenue from operations		36,237			38,251			30,048			74,488			58,153			131,192
2	Segment Results (EBITDA) i
a)	Zinc, Lead and Silver		4,342			5,230			3,280			9,572			6,789			16,161
b)	Zinc - International		591			589			299			1,180			699			1,533
c)	Oil & Gas		2,018			2,081			1,384			4,099			2,448			5,992
d)	Aluminium		761			2,251			4,647			3,012			8,372			17,337
e)	Copper		15			(14	)		(38	)		1			(145	)		(115	)
f)	Iron Ore		213			363			559			576			1,321			2,280
g)	Power		141			81			264			222			610			1,082
h)	Others		(43	)		160			187			117			518			1,049
	Total Segment results (EBITDA)		8,038			10,741			10,582			18,779			20,612			45,319
Less:	Depreciation, depletion and amortisation expense		2,624			2,464			2,118			5,088			4,242			8,895
Add:	Other income, net of expenses ii		(27	)*		3	*		61			(24	)*		123			245
Less:	Finance costs		1,642			1,206			1,066			2,848			2,248			4,797
Add:	Other unallocable income, net of expenses		385			186			444			571			1,058			1,860
	Profit before exceptional items and tax		4,130			7,260			7,903			11,390			15,303			33,732
Add:	Net exceptional gain/(loss) (Refer note 3)		234			—			(97	)		234			(327	)		(768	)
	Profit before tax		4,364			7,260			7,806			11,624			14,976			32,964
3	Segment assets
a)	Zinc, Lead and Silver - India		23,541			24,452			21,481			23,541			21,481			22,822
b)	Zinc - International		6,300			6,859			6,429			6,300			6,429			6,984
c)	Oil & Gas		29,922			26,983			20,926			29,922			20,926			24,149
d)	Aluminium		63,632			65,340			57,499			63,632			57,499			60,407
e)	Copper		5,062			5,898			6,150			5,062			6,150			5,912
f)	Iron Ore		5,504			5,182			3,521			5,504			3,521			4,156
g)	Power		17,337			17,296			17,157			17,337			17,157			17,195
h)	Others		10,110			9,823			8,114			10,110			8,114			9,197
i)	Unallocated		40,675			47,826			46,489			40,675			46,489			47,778
	Total		202,083			209,659			187,766			202,083			187,766			198,600

i) Earnings before interest, depreciation, tax and exceptional items (‘EBITDA’) is a non- GAAP measure.

ii) Includes amortisation of duty benefits relating to assets recognised as government grant.

* Includes cost of exploration wells written off of ₹ 96 Crore, ₹ 62 Crore and ₹ 158 Crore in Oil & Gas segment for the quarters ended 30 September 2022, 30 June 2022 and half year ended 30 September 2022, respectively in Oil & Gas segment.

(₹ in Crore)

		Quarter ended						Half year ended				Year ended
S. No.	Segment information	30.09.2022 (Unaudited)		30.06.2022 (Unaudited)		30.09.2021 (Unaudited)		30.09.2022 (Unaudited)		30.09.2021 (Unaudited)		31.03.2022 (Audited)
4	Segment liabilities
a)	Zinc, Lead and Silver - India		6,291		6,537		5,141		6,291		5,141		6,229
b)	Zinc - International		1,161		1,163		1,211		1,161		1,211		1,159
c)	Oil & Gas		20,904		19,140		13,800		20,904		13,800		16,138
d)	Aluminium		23,301		21,983		19,066		23,301		19,066		20,231
e)	Copper		4,620		5,186		4,265		4,620		4,265		5,028
f)	Iron Ore		2,691		3,123		1,912		2,691		1,912		2,601
g)	Power		2,694		2,390		1,976		2,694		1,976		1,976
h)	Others		3,129		2,861		1,896		3,129		1,896		2,694
i)	Unallocated		66,780		68,586		56,584		66,780		56,584		59,840
	Total		131,571		130,969		105,851		131,571		105,851		115,896

The main business segments are:

(a) Zinc, Lead and Silver - India, which consists of mining of ore, manufacturing of zinc and lead ingots and silver, both from own mining and purchased concentrate. Additional intra segment information of revenues for the Zinc & Lead and Silver segment have been provided to enhance understanding of segment business;

(b) Zinc - International, which consists of exploration, mining, treatment and production of zinc, lead, copper and associated mineral concentrates for sale;

(c) Oil & Gas, which consists of exploration, development and production of oil and gas;

(d) Aluminium, which consist of mining of bauxite and manufacturing of alumina and various aluminium products;

(e) Copper, which consist of mining of copper concentrate, manufacturing of copper cathode, continuous cast copper rod, anode slime from purchased concentrate and manufacturing of precious metal from anode slime, sulphuric acid and phosphoric acid (Refer note 5);

(f) Iron ore, which consists of mining of ore and manufacturing of pig iron and metallurgical coke;

(g) Power, excluding captive power but including power facilities predominantly engaged in generation and sale of commercial power; and

(h) Other business segment comprises port/berth, glass substrate, steel, ferroy alloys and cement. The assets and liabilities that cannot be allocated between the segments are shown as unallocated assets and liabilities, respectively.

Consolidated Balance Sheet				(₹ in Crore)
Particulars		As at 30.09.2022 (Unaudited)		As at 31.03.2022 (Audited)
A	ASSETS
	Non-current assets
	(a) Property, plant and equipment		92,182		91,990
	(b) Capital work-in-progress		17,060		14,230
	(c) Intangible assets		1,416		1,476
	(d) Exploration intangible assets under development		2,381		1,649
	(e) Financial assets
	(i) Investments		246		151
	(ii) Trade receivables		3,101		3,219
	(iii) Loans		1,006		3,166
	(iv) Derivatives		62		—
	(v) Others		3,048		2,855
	(f) Deferred tax assets (net)		5,747		5,085
	(g) Income tax assets (net)		2,849		2,762
	(h) Other non-current assets		3,854		3,442
	Total non-current assets		132,952		130,025
	Current assets
	(a) Inventories		16,160		14,313
	(b) Financial assets
	(i) Investments		14,496		17,140
	(ii) Trade receivables		3,683		4,946
	(iii) Cash and cash equivalents		6,119		8,671
	(iv) Other bank balances		6,002		6,921
	(v) Loans		2,744		2,304
	(vi) Derivatives		1,747		258
	(vii) Others		12,213		8,724
	(c) Income tax assets (net)		20		25
	(d) Other current assets		5,947		5,273
	Total current assets		69,131		68,575
	Total Assets		202,083		198,600
B	EQUITY AND LIABILITIES
	Equity
	Equity share capital		372		372
	Other equity		53,867		65,011
	Equity attributable to owners of Vedanta Limited		54,239		65,383
	Non-controlling interests		16,273		17,321
	Total Equity		70,512		82,704
	Liabilities
	Non-current liabilities
	(a) Financial liabilities
	(i) Borrowings		39,101		36,205
	(ii) Lease liabilities		159		150
	(iii) Derivatives		—		6
	(iv) Other financial liabilities		1,703		1,327
	(b) Provisions		3,699		3,386
	(c) Deferred tax liabilities (net)		4,750		4,435
	(d) Other non-current liabilities		4,842		4,674
	Total non-current liabilities		54,254		50,183
	Current liabilities
	(a) Financial liabilities
	(i) Borrowings		19,497		16,904
	(ii) Lease liabilities		263		324
	(iii) Operational buyers’ credit / suppliers’ credit		13,901		10,993
	(iv) Trade payables		10,664		10,538
	(v) Derivatives		212		531
	(vi) Other financial liabilities		20,431		17,312
	(b) Provisions		459		417
	(c) Income tax liabilities (net)		2,334		917
	(d) Other current liabilities		9,556		7,777
	Total current liabilities		77,317		65,713
	Total Equity and Liabilities		202,083		198,600

Vedanta Limited

Consolidated statement of cash flows

				(₹ in Crore)
	Half year ended
Particulars	30.09.2022 (Unaudited)			30.09.2021 (Unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before taxation		11,624			14,976
Adjustments for:
Depreciation, depletion and amortisation		5,100			4,255
Impairment (reversal)/ capital work in progress written off		(818	)		46
Provision for doubtful debts (net)/ advance/ bad debts written off		160			51
Exploration costs written off		158			147
Liabilities written back		(189	)		—
Other exceptional items		—			134
Fair value loss/ (gain) on financial assets held at fair value through profit or loss		21			(162	)
Profit on sale/ discard of property, plant and equipment (net)		(10	)		(85	)
Foreign exchange loss (net)		509			126
Unwinding of discount on decommissioning liability		43			37
Share based payment expense		46			51
Interest and dividend income		(1,101	)		(1,020	)
Interest expense		2,805			2,210
Deferred government grant		(134	)		(123	)
Changes in assets and liabilities
Increase in trade and other receivables		(3,100	)		(3,951	)
Increase in inventories		(1,818	)		(1,541	)
Increase in trade and other payable		6,945			2,061
Cash generated from operations		20,241			17,212
Income taxes paid (net)		(2,173	)		(1,884	)
Net cash generated from operating activities		18,068			15,328
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property, plant and equipment (including intangibles)		(8,030	)		(4,541	)
Proceeds from sale of property, plant and equipment		60			172
Loans repaid by related parties		2,352			1,610
Deposits made		(3,381	)		(8,792	)
Proceeds from redemption of deposits		4,174			11,478
Short term investments made		(52,841	)		(42,741	)
Proceeds from sale of short term investments		55,468			41,740
Interest received		941			1,379
Dividends received		0			1
Payment made to site restoration fund		—			(9	)
Purchase of long term investments		(125	)		—
Net cash (used in)/ from investing activities		(1,382	)		297

				(₹ in Crore)
	Half year ended
Particulars	30.09.2022 (Unaudited)			30.09.2021 (Unaudited)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds/ (repayment) of short-term borrowings (net)		755			(250	)
Proceeds from current borrowings		6,754			3,649
Repayment of current borrowings		(5,855	)		(3,706	)
Proceeds from long-term borrowings		9,119			6,690
Repayment of long-term borrowings		(5,477	)		(12,269	)
Interest paid		(2,530	)		(2,871	)
Payment for acquiring non-controlling interest		(17	)		—
Payment of dividends to equity holders of the Company		(18,917	)		(6,845	)
Payment of dividends to non-controlling interests		(3,113	)		—
Refund of dividend distribution tax		86			—
Payment of lease liabilities		(62	)		(110	)
Net cash used in financing activities		(19,257	)		(15,712	)
Effect of exchange rate changes on cash and cash equivalents		19			11
Net decrease in cash and cash equivalents		(2,552	)		(76	)
Cash and cash equivalents at the beginning of the period		8,671			4,854
Cash and cash equivalents at end of the period		6,119			4,778
Notes:
1.  The figures in parentheses indicate outflow. 2.  The above cash flow has been prepared under the “Indirect Method” as set out in Indian Accounting Standard (Ind AS) 7 - Statement of Cash Flows.

	Notes:-
1	The above consolidated results of Vedanta Limited (“the Company”) and its subsidiaries (“the Group”), jointly controlled entities, and associates for the quarter and half year ended 30 September 2022 have been reviewed by the Audit and Risk Management Committee and approved by the Board of Directors at its respective meetings held on 28 October 2022. The statutory auditors have carried out a limited review on these results and issued an unmodified conclusion.
2	During the quarter ended 30 September 2022, the Board of Directors of the Company, at its meeting held on 19 July 2022, approved the second interim dividend of ₹ 19.50 per equity share, i.e., 1,950% on face value of ₹ 1/- per equity share for the year ended 31 March 2023. With this, the total dividend declared for FY 2022-23 currently stands at ₹ 51 per equity share of ₹ 1/- each.
3	Net exceptional gain/ (loss) comprise the following:

															(₹ in Crore)
Particulars	Quarter ended								Half year ended						Year ended
	30.09.2022 (Unaudited)			30.06.2022 (Unaudited)		30.09.2021 (Unaudited)			30.09.2022 (Unaudited)			30.09.2021 (Unaudited)			31.03.2022 (Audited)
Property, plant and equipment, exploration intangible assets under development, capital work-in-progress and other assets write back/ (written off) or reversal/(impaired):
- Oil & Gas
a) Exploration cost written off		—			—		(51	)		—			(147	)		(2,618	)
b) Reversal of previously recorded impairment		—			—		—			—			—			2,697
- Aluminium		—			—		—			—			—			(125	)
- Iron Ore
- Reversal of previously recorded impairment of assets in Liberia on commencement of mining operations.		644			—		—			644			—			—
- Others		109			—		(46	)		109			(46	)		(52	)
- Unallocated		—			—		—			—			—			(24	)
SAED on Oil and Gas sector*		(519	)		—		—			(519	)		—			—
Provision for legal disputes (including change in law), force majeure and similar incidences in:
- Aluminium		—			—		—			—			—			(288	)
- Copper		—			—		—			—			—			(217	)
- Zinc, Lead and Silver - India		—			—		—			—			(134	)		(134	)
- Others		—			—		—			—			—			(7	)
Net exceptional gain/ (loss)		234			—		(97	)		234			(327	)		(768	)
Current tax benefit on above		86			—		9			86			73			580
Net deferred tax benefit/ (expense) on above		68			—		25			68			42			(402	)
Non-controlling interests on above		(4	)		—		1			(4	)		32			113
Net exceptional gain/ (loss), net of tax and non-controlling interests		384			—		(62	)		384			(180	)		(477	)

*	The Government of India (“GoI”) vide its notification dated 30 June 2022 levied Special Additional Excise Duty (‘SAED’) on production of crude oil, i.e., cess on windfall gain triggered by increase in crude oil prices which is effective from 01 July 2022. The consequential net impact of the said duty on the quarterly results has been presented as an exceptional item.
4	The Company operates an oil and gas production facility in Rajasthan under a Production Sharing Contract (“PSC”). The GoI accorded its approval for extension of the PSC for the RJ Block for a period of 10 years till 14 May 2030, under the Pre-NELP Extension policy as per notification dated 07 April 2017 (“Pre-NELP Policy”), vide its letter dated 26 October 2018, subject to fulfilment of certain conditions.
	The management believes that the Company is eligible for extension of the PSC on same terms and challenged the applicability of above-mentioned policy. The Company’s petition was allowed by Single Bench, however was overturned by Division Bench in appeal filed by GoI. The Company has filed an appeal against the order of Division Bench before the Supreme court. However, the Company has been paying additional 10% profit petroleum to the Government as per the conditions of extension.
	One of the conditions for extension relates to notification of certain audit exceptions raised for FY 2016-17 as per PSC provisions and provides for payment of amounts, if such audit exceptions result into any creation of liability.
	Director General of Hydrocarbons (“DGH”) has further updated its demand on account of audit exceptions vide letter dated 06 September 2022 for period up to 14 May 2020 for total amount of ₹ 9,474 Crore (US$ 1,162 million) and applicable interest thereon relating to the share of the Company and one of its subsidiaries.
	The Company has disputed the aforesaid demand and the other audit exceptions, notified till date, as in the Company’s view the audit notings are not in accordance with the PSC and are entirely unsustainable. Further, as per PSC provisions, disputed notings do not prevail and accordingly do not result in creation of any liability. The Company believes it has reasonable grounds to defend itself which are supported by independent legal opinions. In accordance with PSC terms, the Company had commenced arbitration proceedings. The final hearing and arguments were concluded in September 2022. Post hearing briefs would be filed by the parties on 11 November 2022.
	For reasons aforesaid, the Company is not expecting any material liability to devolve on account of these matters.
	Pursuant to GOI’s approval for extension vide letter dated 26 October 2018, the parties have now executed the addendum for PSC extension for 10 years from 15 May 2020 to 14 May 2030 on 27 October 2022.

5	The Company has a copper smelter plant in Tuticorin. The Company’s application for renewal of Consent to Operate (“CTO”) for the plant was rejected by the Tamil Nadu Pollution Control Board (“TNPCB”) in April 2018. Subsequently, the Government of Tamil Nadu issued directions to close and seal the existing copper smelter plant permanently. The Principal Bench of National Green Tribunal (“NGT”) ruled in favour of the Company but its order was set aside by the Supreme Court vide its judgment dated 18 February 2019, on the sole basis of maintainability. The Company had filed a writ petition before the Madras High Court challenging various orders passed against the Company. On 18 August 2020, the Madras High Court dismissed the writ petitions filed by the Company, which has been challenged by the Company in the Supreme Court while also seeking interim relief to access the plant for care and maintenance. The hearing on care and maintenance could not be listed at the Supreme Court. Instead, the matter is now being heard on merits.
	The Company was also in the process of expanding its capacities at an adjacent site (“Expansion Project”). The High Court of Madras, in a Public Interest Litigation, held that the application for renewal of the Environmental Clearance (“EC”) for the Expansion Project shall be processed after a mandatory public hearing and in the interim, ordered the Company to cease construction and all other activities on the site with immediate effect. In the meanwhile, State Industries Promotion Corporation of Tamil Nadu (“SIPCOT”) cancelled the land allotted for the Expansion Project, which was later stayed by the Madras High Court. Further, TNPCB issued an order directing the withdrawal of the Consent to Establish (“CTE”) which was valid till 31 March 2023. The Company has also appealed this action before the TNPCB Appellate Authority and the matter is pending for adjudication and the matter is now being heard on merits. As per the Company’s assessment, it is in compliance with the applicable regulations and hence there is no impact on the carrying value of the assets.
6	On 21 July 2022, the Company acquired Athena Chhattisgarh Power Limited (“ACPL”) under the liquidation proceedings of the Insolvency and Bankruptcy Code, 2016 for a consideration of ₹ 565 Crore. ACPL is building a 1,200 MW (600 MW X 2) coal-based power plant located at Jhanjgir Champa district, Chhattisgarh. The plant is expected to fulfill the power requirements for the Company’s aluminium business. On consolidation, the consideration paid for acquisition of ACPL represents mainly Capital work in progress.
7	The Company had filed a Scheme of Arrangement (“Scheme”) for its capital reorganization, whereby the balance of the General Reserves of ₹ 12,587 Crore as at 31 March 2022 is proposed to be transferred to Retained Earnings. Pursuant to the Order of Hon’ble National Company Law Tribunal, Mumbai Bench, a meeting of the shareholders of the Company was held on 11 October 2022, where the matter was approved with requisite majority. The Scheme is subject to completion of further compliances as may be required under Section 230 and other applicable provisions of the Companies Act, 2013.
8	Previous period/ year figures have been re-grouped/ rearranged, wherever necessary.

	By Order of the Board
		Sunil Duggal
Dated: 28 October 2022 Place: New Delhi		Whole -Time Director and Group Chief Executive Officer

Vedanta Limited

CIN no. L13209MH1965PLC291394

Regd. Office: Vedanta Limited, 1st Floor, ‘C’ wing, Unit 103, Corporate Avenue, Atul Projects, Chakala, Andheri (East),

Mumbai–400093, Maharashtra

STATEMENT OF UNAUDITED STANDALONE RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2022

(₹ in Crore, except as stated)

		Quarter ended									Half year ended						Year ended
S. No.	Particulars	30.09.2022 (Unaudited)			30.06.2022 (Unaudited)			30.09.2021 (Unaudited)			30.09.2022 (Unaudited)			30.09.2021 (Unaudited)			31.03.2022 (Audited)
1	Revenue from operations		16,878			17,779			14,975			34,657			27,858			62,801
2	Other operating income		120			134			148			254			223			476
3	Other income (Refer note 7)		5,889			174			690			6,063			2,089			8,347
	Total Income		22,887			18,087			15,813			40,974			30,170			71,624
4	Expenses
a)	Cost of materials consumed		6,478			6,593			5,228			13,071			10,178			23,751
b)	Purchases of stock-in-trade		8			47			3			55			165			228
c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade		712			(480	)		67			232			(479	)		(1,172	)
d)	Power and fuel charges		4,794			5,375			2,384			10,169			4,440			11,874
e)	Employee benefits expense		220			231			214			451			412			867
f)	Finance costs		1,057			858			716			1,915			1,438			3,146
g)	Depreciation, depletion and amortisation expense		950			873			727			1,823			1,431			2,945
h)	Other expenses		2,921			3,250			2,486			6,171			4,760			10,051
	Total expenses		17,140			16,747			11,825			33,887			22,345			51,690
5	Profit before exceptional items and tax		5,747			1,340			3,988			7,087			7,825			19,934
6	Net exceptional gain/(loss) (Refer note 3)		502			—			(51	)		502			(147	)		(318	)
7	Profit before tax		6,249			1,340			3,937			7,589			7,678			19,616
8	Tax expense/ (benefit) on other than exceptional items:
a)	Net current tax expense		980			218			695			1,198			1,373			3,505
b)	Net deferred tax benefit, including tax credits		(770	)		(552	)		(20	)		(1,322	)		(259	)		(1,023	)
	Net tax benefit on exceptional items:
c)	Net tax benefit on exceptional items (Refer note 3)		(87	)		—			(17	)		(87	)		(51	)		(111	)
	Net tax expense/ (benefit) (a+b+c)		123			(334	)		658			(211	)		1,063			2,371
9	Net profit after tax (A)		6,126			1,674			3,279			7,800			6,615			17,245
10	Net profit after tax before exceptional items (net of tax)		5,537			1,674			3,313			7,211			6,711			17,452
11	Other Comprehensive (Loss)/ Income
a)	(i) Items that will not be reclassified to profit or loss		13			(35	)		(9	)		(22	)		27			(8	)
	(ii) Tax (expense)/ benefit on items that will not be reclassified to profit or loss		(1	)		0			7			(1	)		6			8
b)	(i) Items that will be reclassified to profit or loss		(608	)		1,547			12			939			63			407
	(ii) Tax benefit/ (expense) on items that will be reclassified to profit or loss		404			(456	)		(6	)		(52	)		5			(74	)
	Total Other Comprehensive (Loss)/ Income (B)		(192	)		1,056			4			864			101			333
12	Total Comprehensive Income (A+B)		5,934			2,730			3,283			8,664			6,716			17,578
13	Paid-up equity share capital (Face value of ₹ 1 each)		372			372			372			372			372			372
14	Reserves excluding revaluation reserves as per balance sheet																	77,277
15	Earnings per share (₹) (*not annualised)
	- Basic and diluted		16.47	*		4.50	*		8.81	*		20.97	*		17.78	*		46.36

(₹ in Crore)

		Quarter ended									Half year ended						Year ended
S. No.	Segment information	30.09.2022 (Unaudited)			30.06.2022 (Unaudited)			30.09.2021 (Unaudited)			30.09.2022 (Unaudited)			30.09.2021 (Unaudited)			31.03.2022 (Audited)
1	Segment revenue
a)	Oil and Gas		2,098			2,122			1,544			4,220			2,883			6,622
b)	Aluminium		10,444			11,171			9,139			21,615			16,756			38,371
c)	Copper		2,754			3,040			2,594			5,794			4,800			11,096
d)	Iron Ore		1,406			1,214			1,492			2,620			3,068			6,143
e)	Power		176			232			206			408			351			787
	Total		16,878			17,779			14,975			34,657			27,858			63,019
Less:	Inter segment revenue		—			—			—			—			—			218
	Revenue from operations		16,878			17,779			14,975			34,657			27,858			62,801
2	Segment Results (EBITDA) i
a)	Oil and Gas		1,092			1,043			734			2,135			1,302			3,137
b)	Aluminium		910			1,890			3,570			2,800			6,329			13,024
c)	Copper		8			(3	)		(17	)		5			(103	)		(150	)
d)	Iron Ore		143			287			574			430			1,262			2,187
e)	Power		(78	)		(97	)		4			(175	)		(5	)		(172	)
	Total Segment results (EBITDA)		2,075			3,120			4,865			5,195			8,785			18,026
Less:	Depreciation, depletion and amortisation expense		950			873			727			1,823			1,431			2,945
Add:	Other income, net of expenses ii		(75	)*		(30	)*		18			(105	)*		37			78
Less:	Finance costs		1,057			858			716			1,915			1,438			3,146
Add:	Other unallocable income, net of expenses (Refer note 7)		5,754			(19	)		548			5,735			1,872			7,921
	Profit before exceptional items and tax		5,747			1,340			3,988			7,087			7,825			19,934
Add:	Net exceptional gain/(loss) (Refer note 3)		502			—			(51	)		502			(147	)		(318	)
	Profit before tax		6,249			1,340			3,937			7,589			7,678			19,616
3	Segment assets
a)	Oil and Gas		19,466			16,870			14,095			19,466			14,095			16,420
b)	Aluminium		50,043			51,773			44,920			50,043			44,920			47,307
c)	Copper		4,463			5,310			5,401			4,463			5,401			5,383
d)	Iron Ore		4,084			4,597			3,016			4,084			3,016			3,590
e)	Power		2,929			2,973			3,200			2,929			3,200			3,044
f)	Unallocated		72,341			71,405			68,172			72,341			68,172			73,215
	Total		153,326			152,928			138,804			153,326			138,804			148,959
4	Segment liabilities
a)	Oil and Gas		13,335			12,290			8,904			13,335			8,904			10,178
b)	Aluminium		18,855			17,706			13,916			18,855			13,916			15,848
c)	Copper		4,132			4,767			4,037			4,132			4,037			4,638
d)	Iron Ore		2,243			2,908			2,503			2,243			2,503			2,321
e)	Power		295			217			206			295			206			152
f)	Unallocated		46,949			46,296			32,555			46,949			32,555			38,173
	Total		85,809			84,184			62,121			85,809			62,121			71,310

The main business segments are:

(a) Oil and Gas, which consists of exploration, development and production of oil and gas;

(b) Aluminium, which consists of manufacturing of alumina and various aluminium products;

(c) Copper, which consists of manufacturing of copper cathode, continuous cast copper rod, anode slime from purchased concentrate and manufacturing of sulphuric acid, phosphoric acid (Refer note 4);

(d) Iron ore, which consists of mining of ore and manufacturing of pig iron and metallurgical coke; and

(e) Power, excluding captive power but including power facilities predominantly engaged in generation and sale of commercial power.

The assets and liabilities that cannot be allocated between the segments are shown as unallocated assets and liabilities, respectively.

i) Earnings before interest, tax, depreciation and amortisation (“EBITDA”) is a non-GAAP measure.

ii) Includes amortisation of duty benefits relating to assets recognised as government grant.

* Includes cost of exploration wells written off of ₹ 95 Crore, ₹ 50 Crore and ₹ 145 Crore for the quarters ended 30 September 2022, 30 June 2022 and half year ended 30 September 2022, respectively in Oil and Gas segment.

Balance Sheet				(₹ in Crore)
	Particulars	As at 30.09.2022 (Unaudited)		As at 31.03.2022 (Audited)
A	ASSETS
1	Non-current assets
	(a) Property, Plant and Equipment		39,583		39,490
	(b) Capital work-in-progress		10,386		9,226
	(c) Intangible assets		30		26
	(d) Exploration intangible assets under development		2,019		1,488
	(e) Financial assets
	(i) Investments		61,632		60,881
	(ii) Trade receivables		1,254		1,293
	(iii) Loans		142		154
	(iv) Derivatives		62		—
	(v) Others		2,134		1,440
	(f) Deferred tax assets (net)		2,385		1,118
	(g) Income tax assets (net)		1,700		1,800
	(h) Other non-current assets		2,449		2,214
	Total non-current assets		123,776		119,130
2	Current assets
	(a) Inventories		8,752		8,563
	(b) Financial assets
	(i) Investments		454		585
	(ii) Trade receivables		1,520		2,328
	(iii) Cash and cash equivalents		2,602		5,518
	(iv) Other bank balances		1,097		1,630
	(v) Loans		392		365
	(vi) Derivatives		1,350		249
	(vii) Others		9,288		7,394
	(c) Other current assets		4,095		3,197
	Total current assets		29,550		29,829
	Total assets		153,326		148,959
B	EQUITY AND LIABILITIES
1	Equity
	Equity Share Capital		372		372
	Other Equity		67,145		77,277
	Total Equity		67,517		77,649
	Liabilities
2	Non-current liabilities
	(a) Financial liabilities
	(i) Borrowings		31,223		23,421
	(ii) Lease liabilities		56		57
	(iii) Derivatives		—		6
	(iv) Other financial liabilities		—		192
	(b) Provisions		1,425		1,268
	(c) Other non-current liabilities		2,935		2,751
	Total Non-current liabilities		35,639		27,695
3	Current liabilities
	(a) Financial liabilities
	(i) Borrowings		14,073		13,275
	(ii) Lease liabilities		25		25
	(iii) Operational buyers’ credit / suppliers’ credit		10,818		9,261
	(iv) Trade payables
	(1) Total outstanding dues of micro, small and medium enterprises		202		195
	(2) Total outstanding dues of creditors other than micro, small and medium enterprises		5,377		5,329
	(v) Derivatives		104		277
	(vi) Other financial liabilities		12,568		10,020
	(b) Provisions		142		158
	(c) Income tax liabilities (net)		981		601
	(d) Other current liabilities		5,880		4,474
	Total current liabilities		50,170		43,615
	Total Equity and Liabilities		153,326		148,959

Statement of Cash Flows

				(₹ in Crore)
	Half year ended
Particulars	30.09.2022 (Unaudited)			30.09.2021 (Unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax		7,589			7,678
Adjustments for:
Depreciation, depletion and amortisation		1,835			1,445
Reversal of impairment of investments		(780	)		—
Provision for doubtful debts/ advance/ bad debts written off		209			34
Liabilities written back		(47	)		—
Exploration costs written off		145			147
Fair value (gain)/ loss on financial assets held at fair value through profit or loss		(24	)		10
Loss/ (Profit) on sale/ discard of property, plant and equipment (net)		5			(97	)
Foreign exchange loss (net)		202			66
Unwinding of discount on decommissioning liability		14			12
Share based payment expense		23			32
Interest and dividend income		(5,914	)		(1,931	)
Interest expense		1,901			1,426
Deferred government grant		(40	)		(39	)
Changes in assets and liabilities
Increase in trade and other receivables		(2,221	)		(2,729	)
Increase in inventories		(117	)		(1,041	)
Increase in trade and other payables		4,871			2,129
Cash generated from operations		7,651			7,142
Income taxes paid (net)		(665	)		(756	)
Net cash generated from operating activities		6,986			6,386
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property, plant and equipment (including intangibles)		(3,396	)		(1,871	)
Proceeds from sale of property, plant and equipment		23			156
Loans given to related parties		(170	)		(65	)
Loans repaid by related parties		165			83
Deposits made		(788	)		(982	)
Proceeds from redemption of deposits		1,001			929
Short term investments made		(22,313	)		(9,809	)
Proceeds from sale of short-term investments		22,471			11,593
Interest received		150			81
Dividends received		5,761			1,830
Payments made to site restoration fund		—			(6	)
Advance given for acquisition (Refer note 6)		(565	)		—
Net cash generated from investing activities		2,339			1,939
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds/ (repayment) of short-term borrowings (net)		804			(300	)
Proceeds from current borrowings		6,568			1,845
Repayment of current borrowings		(5,640	)		(1,265	)
Proceeds from long-term borrowings		10,102			5,068
Repayment of long-term borrowings		(3,441	)		(7,083	)
Interest paid		(1,793	)		(1,951	)
Refund of dividend distribution tax		86			—
Payment of dividends to equity holders of the Company		(18,917	)		(6,855	)
Payment of lease liabilities		(10	)		(57	)
Net cash used in financing activities		(12,241	)		(10,598	)
Net decrease in cash and cash equivalents		(2,916	)		(2,273	)
Cash and cash equivalents at the beginning of the period		5,518			2,861
Cash and cash equivalents at the end of the period		2,602			588

Notes:

1. The figures in parentheses indicate outflow.

2. The above cash flow has been prepared under the “Indirect Method” as set out in Indian Accounting Standard (Ind AS) 7 - Statement of Cash Flows.

	Notes:-
1	The above results of Vedanta Limited (“the Company”), for the quarter and half year ended 30 September 2022 have been reviewed by the Audit and Risk Management Committee and approved by the Board of Directors at their respective meetings held on 28 October 2022. The statutory auditors have carried out a limited review on these results and issued an unmodified conclusion.
2	During the quarter ended 30 September 2022, the Board of Directors of the Company, at its meeting held on 19 July 2022, approved the second interim dividend of ₹ 19.50 per equity share, i.e., 1,950% on face value of ₹ 1/- per equity share for the year ended 31 March 2023. With this, the total dividend declared for FY 2022-23 currently stands at ₹ 51 per equity share of ₹ 1/- each.
3	Net exceptional gain/ (loss) comprise the following:

															(₹ in Crore)
Particulars	Quarter ended								Half year ended						Year ended
	30.09.2022 (Unaudited)			30.06.2022 (Unaudited)		30.09.2021 (Unaudited)			30.09.2022 (Unaudited)			30.09.2021 (Unaudited)			31.03.2022 (Audited)
Property, plant and equipment, exploration intangible assets under development, capital work-in-progress and other assets (impaired)/ reversal or (written off)/ written back in:
- Oil and Gas
a) Exploration wells written off		—			—		(51	)		—			(147	)		(1,412	)
b) Reversal of previously recorded impairment		—			—		—			—			—			1,370
- Aluminium		—			—		—			—			—			(125	)
- Unallocated
a) Reversal of previously recorded impairment on investments due to commencement of mining operations in Liberia		780			—		—			780			—			—
b) Capital work-in-progress written off		—			—		—			—			—			(24	)
SAED on Oil and Gas sector*		(278	)		—		—			(278	)		—			—
Provision for legal disputes (including change in law), force majeure and similar incidences in:
- Aluminium		—			—		—			—			—			(73	)
- Copper		—			—		—			—			—			(54	)
Net exceptional gain/ (loss)		502			—		(51	)		502			(147	)		(318	)
Current tax benefit on above		47			—		8			47			25			281
Net deferred tax benefit/ (expense) on above		40			—		9			40			26			(170	)
Net Exceptional gain/ (loss) (net of tax)		589			—		(34	)		589			(96	)		(207	)

*   The Government of India (“GoI”) vide its notification dated 30 June 2022 levied Special Additional Excise Duty (‘SAED’) on production of crude oil, i.e., cess on windfall gain triggered by increase in crude oil prices which is effective from 01 July 2022. The consequential net impact of the said duty on the quarterly results has been presented as an exceptional item.

4	The Company has a copper smelter plant in Tuticorin. The Company’s application for renewal of Consent to Operate (“CTO”) for the plant was rejected by the Tamil Nadu Pollution Control Board (“TNPCB”) in April 2018. Subsequently, the Government of Tamil Nadu issued directions to close and seal the existing copper smelter plant permanently. The Principal Bench of National Green Tribunal (“NGT”) ruled in favour of the Company but its order was set aside by the Supreme Court vide its judgment dated 18 February 2019, on the sole basis of maintainability. The Company had filed a writ petition before the Madras High Court challenging various orders passed against the Company. On 18 August 2020, the Madras High Court dismissed the writ petitions filed by the Company, which has been challenged by the Company in the Supreme Court while also seeking interim relief to access the plant for care and maintenance. The hearing on care and maintenance could not be listed at the Supreme Court. Instead, the matter is now being heard on merits.
	The Company was also in the process of expanding its capacities at an adjacent site (“Expansion Project”). The High Court of Madras, in a Public Interest Litigation, held that the application for renewal of the Environmental Clearance (“EC”) for the Expansion Project shall be processed after a mandatory public hearing and in the interim, ordered the Company to cease construction and all other activities on the site with immediate effect. In the meanwhile, State Industries Promotion Corporation of Tamil Nadu (“SIPCOT”) cancelled the land allotted for the Expansion Project, which was later stayed by the Madras High Court. Further, TNPCB issued an order directing the withdrawal of the Consent to Establish (“CTE”) which was valid till 31 March 2023. The Company has also appealed this action before the TNPCB Appellate Authority and the matter is pending for adjudication and the matter is now being heard on merits. As per the Company’s assessment, it is in compliance with the applicable regulations and hence there is no impact on the carrying value of the assets.
5	The Company operates an oil and gas production facility in Rajasthan under a Production Sharing Contract (“PSC”). The GoI accorded its approval for extension of the PSC for the RJ Block for a period of 10 years till 14 May 2030, under the Pre-NELP Extension policy as per notification dated 07 April 2017 (“Pre-NELP Policy”), vide its letter dated 26 October 2018, subject to fulfilment of certain conditions.
	The management believes that the Company is eligible for extension of the PSC on same terms and challenged the applicability of above-mentioned policy. The Company’s petition was allowed by Single Bench, however was overturned by Division Bench in appeal filed by GoI. The Company has filed an appeal against the order of Division Bench before the Supreme court. However, the Company has been paying additional 10% profit petroleum to the Government as per the conditions of extension.
	One of the conditions for extension relates to notification of certain audit exceptions raised for FY 2016-17 as per PSC provisions and provides for payment of amounts, if such audit exceptions result into any creation of liability.
	Director General of Hydrocarbons (“DGH”) has further updated its demand on account of audit exceptions vide letter dated 06 September 2022 for period up to 14 May 2020 for total amount of ₹ 9,474 Crore (US$ 1,162 million) and applicable interest thereon relating to the share of the Company and one of its subsidiaries.
	The Company has disputed the aforesaid demand and the other audit exceptions, notified till date, as in the Company’s view the audit notings are not in accordance with the PSC and are entirely unsustainable. Further, as per PSC provisions, disputed notings do not prevail and accordingly do not result in creation of any liability. The Company believes it has reasonable grounds to defend itself which are supported by independent legal opinions. In accordance with PSC terms, the Company had commenced arbitration proceedings. The final hearing and arguments were concluded in September 2022. Post hearing briefs would be filed by the parties on 11 November 2022.
	For reasons aforesaid, the Company is not expecting any material liability to devolve on account of these matters.
	Pursuant to GOI’s approval for extension vide letter dated 26 October 2018, the parties have now executed the addendum for PSC extension for 10 years from 15 May 2020 to 14 May 2030 on 27 October 2022.
6	On 21 July 2022, the Company acquired Athena Chhattisgarh Power Limited (“ACPL”) under the liquidation proceedings of the Insolvency and Bankruptcy Code, 2016 for a consideration of ₹ 565 Crore, pending receipt of share certificate. ACPL is building a 1,200 MW (600 MW X 2) coal-based power plant located at Jhanjgir Champa district, Chhattisgarh. The plant is expected to fulfill the power requirements for the Company’s aluminium business.
7	Other income includes dividend income from subsidiaries of ₹ 5,761 Crore, ₹ Nil Crore, ₹ 513 Crore, ₹ 5,761 Crore, ₹ 1,829 Crore and ₹ 7,828 Crore for the quarters ended 30 September 2022, 30 June 2022, 30 September 2021, half years ended 30 September 2022, 30 September 2021 and year ended 31 March 2022, respectively.
8	Additional disclosures as per Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirement) Regulations, 2015:

	Particulars	Quarter ended									Half year ended						Year ended
		30.09.2022 (Unaudited)			30.06.2022 (Unaudited)			30.09.2021 (Unaudited)			30.09.2022 (Unaudited)			30.09.2021 (Unaudited)			31.03.2022 (Audited)
a)	Debt-Equity Ratio (in times)*		0.67			0.66			0.40			0.67			0.40			0.47
b)	Debt Service Coverage Ratio (in times) (annualised)		2.61			2.24			1.89			2.61			1.89			1.96
c)	Interest Service Coverage Ratio (in times)*		7.29			3.56			7.42			5.62			7.29			8.33
d)	Current Ratio (in times)*		0.66			0.71			0.71			0.66			0.71			0.80
e)	Long term debt to working capital Ratio (in times)*		**			**			**			**			**			**
f)	Bad debts to Account receivable Ratio (in times)*		0.00			0.00			0.00			0.00			0.00			0.00
g)	Current liability Ratio (in times)*		0.52			0.54			0.46			0.52			0.46			0.52
h)	Total debts to total assets Ratio (in times)*		0.30			0.30			0.22			0.30			0.22			0.25
i)	Debtors Turnover Ratio (in times)*		5.78			5.32			4.47			10.92			9.79			20.81
j)	Inventory Turnover Ratio (in times)*		1.56			1.56			1.57			3.43			3.18			6.41
k)	Operating-Profit Margin (%)*		7	%		13	%		27	%		10	%		26	%		24	%
l)	Net-Profit Margin (%)*		33	%		9	%		22	%		21	%		24	%		28	%
m)	Capital Redemption Reserve (₹ in Crore)		3,125			3,125			3,125			3,125			3,125			3,125
n)	Net Worth (Total Equity) (₹ in Crore)		67,517			68,745			76,683			67,517			76,683			77,649

* Not annualised, except for the year ended 31 March 2022

** Net working capital is negative

Formulae for computation of ratios are as follows:

a)	Debt-Equity Ratio	Total Debt/ Total Equity
b)	Debt Service Coverage Ratio	Income available for debt service/ (interest expense + repayments made during the period for long term loans), where income available for debt service = Profit before exceptional items and tax + Depreciation, depletion and amortisation expense + Interest expense
c)	Interest Service Coverage Ratio	Income available for debt service/ interest expense
d)	Current Ratio	Current Assets/ Current Liabilities (excluding current maturities of long term borrowing)
e)	Long term debt to working capital Ratio	Non-current borrowing (including current maturities of long term borrowing)/ Working capital (WC), where WC = Current Assets - Current Liabilities (excluding current maturities of long term borrowing)
f)	Bad debts to Account receivable Ratio	Bad Debts written off/ Average Trade Receivables
g)	Current liability Ratio	Current Liabilities (excluding current maturities of long term borrowing)/ Total Liabilities
h)	Total debts to total assets Ratio	Total Debt/ Total Assets
i)	Debtors Turnover Ratio	(Revenue from operations + Other operating income)/ Average Trade Receivables
j)	Inventory Turnover Ratio	(Revenue from operations + Other operating income) less EBITDA/ Average Inventory
k)	Operating-Profit Margin (%)	(EBITDA- Depreciation, depletion and amortisation expense)/ (Revenue from operations + Other operating income)
l)	Net-Profit Margin (%)	Net profit after tax before exceptional items (net of tax) / (Revenue from operations + Other operating income)
m)	Capital Redemption Reserve includes Preference Share Redemption Reserve created on redemption of preference shares.
9	The listed secured Non-Convertible debentures (“NCDs”) of the Company aggregating ₹ 7,836 Crore as on 30 September 2022 are secured by way of first Pari Passu mortgage/charge on certain movable fixed assets and freehold land of the Company. The Company has maintained asset cover of more than 125% and 100% for NCDs with face value of ₹ 6,089 Crore and ₹ 1,750 Crore respectively.
10	The Company had filed a Scheme of Arrangement (“Scheme”) for its capital reorganization, whereby the balance of the General Reserves of ₹ 12,587 Crore as at 31 March 2022 is proposed to be transferred to Retained Earnings. Pursuant to the Order of Hon’ble National Company Law Tribunal, Mumbai Bench, a meeting of the shareholders of the Company was held on 11 October 2022, where the matter was approved with requisite majority. The Scheme is subject to completion of further compliances as may be required under Section 230 and other applicable provisions of the Companies Act, 2013.
11	Previous period/ year figures have been re-grouped/ rearranged, wherever necessary.

	By Order of the Board
Place : New Delhi		Sunil Duggal
Date : 28 October 2022		Whole - Time Director and Group Chief Executive Officer