Vedanta Q3 Review - Robust Performance Across Verticals Leads To A Beat In Operating Results: Motilal Oswal

Motilal Oswal Report

Vedanta Ltd.'s performance has substantially improved during the quarter, driven by better-than-estimated performance across segments.

An extension of the maturity of bonds at HoldCo. by three years provides adequate liquidity comfort to the company in the near term.

To account for its better performance, comfortable debt position, higher volumes, and improved Ebitda guidance by the management, we have raised our FY24/FY25/FY26 Ebitda estimates by 15%/1%/3%.

Vedanta currently trades at 6.4 times FY26E enterprise value/Ebitda, and we believe that the stock is adequately priced in at current levels.

We reiterate our Neutral rating on Vedanta with a revised SoTP based target price of Rs 270.

Click on the attachment to read the full report:

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.