Vedanta Q3 FY26 Results: Record Profit, Margin Expansion and Demerger Impact

Vedanta Limited announced record-breaking Vedanta Q3 FY26 Results, with consolidated revenue rising to ₹45,899 crore and quarterly profit reaching an all-time high. Strong performance in aluminium and zinc, sharp margin expansion, and improving leverage defined the quarter, even as the company progressed on its approved demerger plan.

These Vedanta Q3 Results highlight Vedanta's strengthening earnings profile and balance sheet position going into the final quarter of FY26.

Table of Contents:

1. Vedanta Q3 FY26 Results Overview
2. Vedanta Q3 Results Financial Highlights
3. Segment-wise Performance in Vedanta Q3 FY26 Results
4. Balance Sheet Strength and Debt Position After Q3 FY26
5. Vedanta Q3 Results: Strategic Updates and Demerger Progress
6. Market Reaction and Investor Implications
7. Outlook for Vedanta Based on 9M FY26 Performance
8. FAQs on Vedanta Q3 FY26 Results

Vedanta Q3 FY26 Results Overview

The Vedanta Q3 FY26 Results showcased a sharp improvement in profitability and margins, supported by favourable LME prices, higher volumes, cost efficiencies, and forex gains. Consolidated revenue touched ₹45,899 crore, while EBITDA reached an all-time quarterly high.

These Vedanta quarterly results reinforce Vedanta's position as a cash-generating metals major, as energy transition demand is supporting aluminium and zinc prices globally.

Vedanta Q3 Results Financial Highlights

Key Financial Metrics

What stands out for investors

• EBITDA margin of 41% was the second-highest in Vedanta's history.
• PAT of ₹7,807 crore marked the highest-ever quarterly profit.
• Net debt to EBITDA improved despite marginally higher absolute debt, signalling balance sheet strength.

For 9M FY26, Vedanta quarterly results show revenue growth of 17% year-on-year and PAT of ₹15,744 crore, strengthening the full-year outlook.

Segment-wise Performance in Vedanta Q3 FY26 Results

Aluminium Segment

Aluminium emerged as the largest earnings contributor in the Vedanta Q3 FY26 Results.

Lower cost of production at USD 1,268 per tonne, aided by Lanjigarh Train II commissioning, materially boosted margins.

Zinc India and Zinc International

Zinc remained a core profit engine in the Vedanta Q3 Results.

Silver production of 158 tonnes accounted for around 44% of Zinc India's profits. Zinc International also delivered strong mined metal growth of 28% year-on-year.

Oil and Gas

Oil and gas performance was mixed in the Vedanta Q3 FY26 Results.

• Gross operated production averaged 84.9 kboepd
• EBITDA stood at ₹989 crore on revenue of ₹2,366 crore
• Lower production impacted earnings, though drilling activity aims to stabilise output

Power Business

The power segment delivered a sharp turnaround.

• Power sales rose 40% year-on-year to 4,530 MU
• EBITDA surged 188% to ₹363 crore
• New capacity additions, such as Athena and Meenakshi, supported performance

Loss-making Segments

• Steel reported EBITDA loss of ₹37 crore despite production of 325 kt
• Copper posted an EBITDA loss of ₹16 crore
• These remain areas to monitor in the upcoming Vedanta quarterly results.

Balance Sheet Strength and Debt Position After Q3 FY26

The Vedanta Q3 FY26 Results reflected improving financial stability.

Credit rating agencies CRISIL and ICRA reaffirmed AA ratings after NCLT approval of the demerger. Global agencies upgraded Vedanta Resources' outlook to Positive, strengthening refinancing confidence.

Vedanta Q3 Results: Strategic Updates and Demerger Progress

A major highlight of the Vedanta Q3 Results was progress on the demerger.

• NCLT approved split into five listed entities
• Businesses include aluminium, zinc, oil and gas, energy and power, and base metals
• Objective is value unlocking through pure-play structures

The company also reiterated focus on:

• Cost optimisation across metals
• Expansion at Gamsberg zinc mine
• Enhanced oil recovery initiatives
• Net-zero emissions target by 2050

Standalone Vedanta Ltd Q3 results showed revenue of ₹7,215 crore and PAT of ₹2,907 crore, reversing last year's loss.

To understand how Vedanta plans to split its businesses into multiple focused listed entities, read the detailed breakdown of the Vedanta Demerger, including share entitlement, timelines, and investor risks.

Market Reaction and Investor Implications

Post the Vedanta Q3 FY26 Results announcement, shares gained around 4% to ₹767.55, reflecting improved sentiment.

What investors should track

• Execution of the demerger timeline
• Aluminium and zinc price trends on the LME
• Progress in reducing losses in steel and copper
• Oil and gas production recovery

For long-term investors, Vedanta quarterly results suggest improving ROE potential as leverage declines and high-EBITDA segments scale up.

To evaluate how the stock has responded to the earnings surprise and strong margin expansion, check the latest Vedanta share price, updated charts, and key valuation ratios.

Outlook for Vedanta Based on 9M FY26 Performance

The 9M FY26 Vedanta quarterly results indicate upside potential for FY26 if:

• Commodity prices remain supportive
• Volume growth continues in aluminium and zinc
• Capex is disciplined and focused on high-return segments

Q4 production data and demerger clarity will be critical triggers for valuation re-rating.

To understand why Vedanta chose to sell a small stake during a commodity upcycle and what it means for minority shareholders, read the detailed breakdown of the Vedanta OFS in Hindustan Zinc, including dividend impact and valuation risks.

FAQs on Vedanta Q3 FY26 Results

1. What drove the strong Vedanta Q3 FY26 Results?
Higher LME prices, improved volumes, cost reductions in aluminium, and strong zinc and silver performance drove earnings growth.

2. Is Vedanta reducing its debt?
Yes. While net debt rose slightly, EBITDA growth improved the net debt to EBITDA ratio to 1.23x, signalling deleveraging.

3. Which segment contributed the most in Vedanta Q3 Results?
Aluminium and Zinc India were the biggest contributors to EBITDA and profitability.

4. How important is the demerger for shareholders?
The demerger is expected to unlock value by creating focused, pure-play listed companies with clearer valuation benchmarks.

5. Are Vedanta quarterly results sustainable?
Sustainability depends on commodity prices, execution of expansion projects, and turnaround of loss-making segments.