Vedanta shares jump over 3% today after mixed Q2 results; CLSA says 'buy' -- check target price

Vedanta Ltd

Vedanta Ltd share price gained more than 3 percent in the opening trade on Monday, after the mining conglomerate reported a mixed July-September financial results, with net profit declining due to exceptional charges, even as revenue and EBITDA rose year-on-year. Global brokerage CLSA maintained its positive call on the stock.

Vedanta Ltd stock rose to a high of Rs 509.35 on NSE, up 3.2 percent from the previous close. It has gained nearly 10 percent over the past year.

Stock call: Should you buy or sell Vedanta shares?

CLSA maintained an ‘Outperform’ rating on Vedanta Ltd stock with a target price of Rs 580 per share, noting that Q2 FY26 EBITDA was in line with expectations and that the company is guiding for FY26 EBITDA of over $6 billion, supported by higher commodity prices and operational gains. The brokerage also highlighted Vedanta’s expansion and backward integration across aluminium, power and zinc businesses, while expecting the company’s demerger process to be completed by the end of FY26. It said that the outcome of the $2 billion joint plant auction (JPA) bid remains a key monitorable.

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Vedanta’s consolidated net profit attributable to owners fell 59 percent year-on-year to Rs 1,798 crore for the quarter ended September 2025, after booking exceptional losses of Rs 2,067 crore. The prior-year period had included a one-time gain. Net profit before exceptional items rose 13 percent to Rs 5,026 crore. Revenue from operations increased 6 percent year-on-year to Rs 39,868 crore, while EBITDA rose to Rs 11,612 crore, up 12 percent year-on-year. EBITDA margin expanded to 28.6 percent.

Among business segments, aluminium EBITDA stood at Rs 5,532 crore, ahead of poll estimates; oil and gas EBITDA came in at Rs 1,029 crore; and zinc international operations delivered Rs 373 crore in EBITDA.

Vedanta Resources refinanced $550 million through a bond issue, reducing overall interest costs from around 11.6 percent to about 10 percent. Vedanta’s net debt/EBITDA ratio improved to 1.37x as of September from 1.49x in Q2 FY25. Cash stood at Rs 21,481 crore and gross debt at Rs 83,544 crore at the end of September 2025.

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