Vedanta Aluminium Metal Q2 FY27 Results: Consolidated Net Profit ₹6,187 Crore on Total Income of ₹22,671 Crore

Earnings
aluminium

Blacklitt Research28 October 20263 min read

A rough lump of reddish-brown bauxite ore with pale rounded oolitic inclusions against a black background — Darla Sondrol, via Wikimedia Commons (CC0). Illustrative image.

Vedanta Aluminium Metal (NSE: VAML) reported consolidated total income of ₹22,671 crore and net profit of ₹6,187 crore for the quarter ended 30 Sep 2026, and standalone total income of ₹16,301 crore and net profit of ₹4,106 crore, it said in a filing on 28 Oct 2026.

Key highlights

Consolidated

Including its subsidiaries

Total income: ₹22,671 crore, up 41.0% YoY and 4.5% QoQ
Net profit: ₹6,187 crore, up 105.4% YoY and down 6.2% QoQ
EPS: ₹13.21 basic, against ₹6.07 a year earlier
Exceptional items: ₹485 crore before tax, ₹363 crore after tax and non-controlling interests

Standalone

The company on its own, without its subsidiaries

Total income: ₹16,301 crore, up 34.9% YoY and 2.4% QoQ
Net profit: ₹4,106 crore, up 142.5% YoY and down 11.5% QoQ
EPS: ₹10.50 basic, against ₹4.33 a year earlier
Exceptional items: ₹485 crore before tax, ₹363 crore after tax

Summary

Consolidated ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	22,671	16,080	+41.0%	21,702	+4.5%
Revenue from operations	22,324	15,943	+40.0%	21,393	+4.4%
Other income	347	137	+153.3%	309	+12.3%
	6,187	3,012	+105.4%	6,597	-6.2%
Profit before tax	8,262	4,033	+104.9%	8,832	-6.5%
Finance costs	911	949	-4.0%	1,001	-9.0%
Depreciation	802	699	+14.7%	775	+3.5%
Tax expense	2,075	1,021	+103.2%	2,235	-7.2%
Net profit margin	27.29%	18.73%	+8.56 pp	30.40%	-3.11 pp
EPS, basic (₹)	13.21	6.07	+117.6%	14.39	-8.2%

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Profit grew faster than income year on year. Net profit rose 105.4% to ₹6,187 crore while total income rose 41.0%, and profit before tax rose 104.9%. Finance costs fell 4.0% to ₹911 crore, which is 4.0% of total income this quarter. The comparative quarter was presented after the debt allocation as at 30 Apr 2026, so the year-earlier finance costs are on that basis.

Other income of ₹347 crore is 1.5% of total income and 4.2% of profit before tax. Tax of ₹2,075 crore is 25.1% of profit before tax. The statement shows exceptional items of ₹485 crore before tax, which include an OMC bauxite provision of ₹400 crore.

The company says it is pursuing legal remedies against the Odisha High Court order of 1 Oct 2026 and has sought a stay on an OMC demand of ₹3,539 crore plus interest and GST, dated 3 Oct 2026. The filing does not state the outcome of the Supreme Court appeal or the effect on results if the demand is not stayed. Management, on an independent legal opinion, says the company has strong grounds on merits.

Standalone ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	16,301	12,081	+34.9%	15,918	+2.4%
Revenue from operations	16,081	12,001	+34.0%	15,692	+2.5%
Other income	220	80	+175.0%	226	-2.7%
	4,106	1,693	+142.5%	4,641	-11.5%
Profit before tax	5,484	2,272	+141.4%	6,204	-11.6%
Finance costs	846	907	-6.7%	891	-5.1%
Depreciation	584	534	+9.4%	577	+1.2%
Tax expense	1,378	579	+138.0%	1,563	-11.8%
Net profit margin	25.19%	14.01%	+11.17 pp	29.16%	-3.97 pp
EPS, basic (₹)	10.50	4.33	+142.5%	11.87	-11.5%

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Standalone net profit rose 142.5% year on year to ₹4,106 crore, faster than total income of up 34.9% and profit before tax of up 141.4%. Revenue from operations rose 34.0%, while other income rose 175.0% from a small base of ₹80 crore.

Standalone finance costs of ₹846 crore are 5.2% of total income. Tax of ₹1,378 crore is 25.1% of profit before tax of ₹5,484 crore.

Inference

The filing says the company acquired a 51% stake in Bharat Aluminium Company Limited from Vedanta Limited for ₹22,180 crore, paid in 0.1% compulsorily convertible debentures, and that BALCO became a subsidiary from 30 Apr 2026. The remaining 49% is held by the Government of India.

The board declared a total dividend for FY 2026-27, but the per-share amount is not legible in the text read. The filing does not state the reason for the fall in net profit from the June quarter or the outcome of the Supreme Court appeal.

Reference: Original filing (PDF)

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