Vedanta Aluminium Metal Ltd (VAML)

Metals & Mining · Non Ferrous Metals · NSE · Updated 1 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹434.85

🎯 Key Takeaways

Vedanta Aluminium Metal Ltd (VAML) is transitioning from a developmental phase to a high-growth, cash-generative business, marked by record financial performance and strategic consolidation within the metals sector. The company has demonstrated strong operational execution and margin expansion, supported by robust demand and integration gains.
Revenue grew 11.9% QoQ to ₹21,393 in Q1FY27.
⚠️ Commodity price volatility in global aluminium markets could pressure margins despite current strength.

Market Cap

₹1.70 L Cr

Debt/Equity

-0.81

Promoter

56.4%

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📖 The Story

Vedanta Aluminium Metal Ltd (VAML) is transitioning from a developmental phase to a high-growth, cash-generative business, marked by record financial performance and strategic consolidation within the metals sector. The company has demonstrated strong operational execution and margin expansion, supported by robust demand and integration gains.

📰 What's Happening

VAML reported record Q1FY27 results (June 2026) with revenue of ₹21,105 crore (+45% YoY), EBITDA of ₹10,499 crore (+134% YoY), and PAT of ₹6,597 crore (+205% YoY), driven by 632 KT aluminium production and EBITDA margin expansion to 50%. The Board approved an ₹8 interim dividend. India Ratings upgraded its long-term issuer rating to IND AA+ (Stable outlook) in August 2026, reflecting improved creditworthiness. A prior rumor about a ₹13,500 crore fundraising was officially denied. The company also corrected its BESS project capacity to 142.5–150 MW with 90–95% assured supply following a revised agreement. An investor conference is scheduled for September 1, 2026, in Mumbai, with presentation materials now publicly available.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Jun 2025	Mar 2026	Jun 2026
Revenue	14,654	19,124	21,393
Operating Profit	3,685	7,601	9,524
OPM %	25.1%	39.8%	44.5%
Net Profit	2,162	4,958	6,597
EPS	₹4.55	₹10.76	₹14.39

Revenue has grown consistently from ₹14,654 crore (June 2025) to ₹19,124 crore (March 2026) and ₹21,393 crore (June 2026), indicating strong top-line momentum. Operating margins improved from 25.1% to 39.8% and 44.5% over the same period, while PAT rose from ₹2,162 crore to ₹6,597 crore, reflecting both scale and margin expansion. This trajectory aligns with management's focus on operational efficiency and integration benefits, particularly following the demerger and restructuring within the Vedanta Group.

🔮 Management Outlook & What's Next

Management has expressed confidence in sustaining momentum, citing successful integration, robust demand, and margin discipline as key drivers. The record financials and upgraded credit rating underscore improved operational and financial health. While no formal long-term guidance was provided, the emphasis on execution and capital efficiency suggests confidence in continued performance, particularly in the aluminium value chain.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2026
Equity Capital	0
Reserves	-0
Borrowings	0
Total Liabilities	0
Fixed Assets	0
Investments	0
Total Assets	0

The balance sheet shows minimal equity and reserves, with total assets and liabilities reported as ₹0 as of March 2026, likely due to consolidation or reclassification within the broader Vedanta Group structure. However, the company maintains a healthy Debt/EBITDA ratio of 0.9x, indicating low leverage relative to cash flow. Capital allocation appears focused on operational execution rather than large-scale financing, with no active fundraising or major investment announcements disclosed recently.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2026
Operating	-0
Investing	0
Financing	+0
Net Cash Flow	-0

👥 Shareholding Pattern

Category	Q1FY27
Promoters	56.4%
FII	12.6%
DII	13.9%
Public	11.8%
# Shareholders	21,15,856

Promoter holding stands at 56.38%, with stable institutional interest: FII at 12.55% and DII at 13.91% as of Q1FY27. The broad shareholder base of 21,15,856 investors suggests growing retail and institutional confidence. No significant changes in promoter pledging or selling were indicated in recent filings, and the company reaffirmed compliance with disclosure norms, reinforcing transparency.

⚖️ Peer Comparison — Non Ferrous Metals

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
HINDZINC	2.52 L Cr	14.8	76.5%	75.4%	0.36
HINDALCO	2.28 L Cr	13.8	11.1%	12.0%	0.71
VAML	1.70 L Cr	—	—	—	-0.81
VEDL	1.09 L Cr	5.5	27.0%	57.5%	0.65
NATIONALUM	69,884	10.3	42.2%	31.3%	0.00
HINDCOPPER	50,822	44.8	44.4%	34.1%	0.03
GRAVITA	13,283	33.4	21.0%	18.9%	0.14
JAINREC	9,559	26.0	20.9%	23.1%	0.81
PRECWIRE	9,243	—	—	—	0.14
KSHINTL	6,435	46.2	33.9%	43.4%	1.21

🔗 Peer Stock Analyses

HINDZINC HINDALCO VEDL NATIONALUM HINDCOPPER

⚠️ Risk Factors

1. Commodity price volatility in global aluminium markets could pressure margins despite current strength. 2. Execution risks in large-scale infrastructure and energy projects, including the BESS integration, though currently on track. 3. Regulatory and ESG pressures in the metals sector may require increased capital allocation for compliance. 4. Integration risks within the broader Vedanta Group restructuring could impact capital availability or strategic focus.

📋 Recent Filings

🧠 Analyst's Read

VAML is emerging as a high-margin, cash-generative player in the non-ferrous space, with strong operational execution and improving credit metrics. Investors should monitor margin sustainability, demand trends in downstream sectors like automotive and packaging, and the progress of key projects ahead of the September investor meeting.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-01.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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