Indian miner Vedanta on track to eliminate net debt by December-end, CEO says

What happened

Vedanta's CEO told Reuters the company is on track to eliminate net debt by the end of the third quarter. Net debt was 532.54 billion Indian rupees, or $5.59 billion, at the end of fiscal 2026. Quarterly net profit rose 9.1% and revenue jumped 57%.

Confirmed

Global impact / market context

Cutting net debt, which means money owed after cash is subtracted, can reduce interest costs and free up cash for operations or capital spending. Higher zinc and copper prices lifted profit per sale, giving the miner more room to pay down borrowings.

Analyst inference

Revenue growth at Vedanta's India zinc and lead business followed a 35% yearly rise in spot zinc prices, which means prices for immediate delivery. Copper rose 44% on supply limits and electrification demand, while lead fell 6% on weak demand growth.

Analyst inference

What to watch

1. Vedanta's net debt stood at 532.54 billion Indian rupees at the end of fiscal 2026, and the CEO says it should be eliminated by the end of the third quarter. Confirmed
2. Watch whether Vedanta reaches zero net debt by the December quarter-end deadline, since the goal depends on cash generation and commodity prices holding up. Proposed
3. Track zinc and copper prices, because higher selling prices supported profit and cash available to repay debt. A lead price rebound would also help the metals segment. Analyst inference

Evidence

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