Vedanta Oil and Gas Q2 FY27 Financial Results Report

Revenue Rs 2,486 crore | EBITDA Rs 1,393 crore

Reader Takeaway: Strong operational growth and zero debt levels bolster the company, while the sub-judice Cambay block creates uncertainty.

What just happened

Vedanta Oil and Gas Limited has announced its financial results for the quarter and half-year ended September 30, 2026. The company reported a 7% year-on-year revenue growth to Rs 2,486 crore for Q2 FY27, while EBITDA climbed by 34% to Rs 1,393 crore. Net profit for the quarter stood at Rs 746 crore.

Why this matters

The company’s ability to drive 34% EBITDA growth highlights the success of its production optimization initiatives, including well interventions and artificial lift programs. These efforts have successfully mitigated natural output decline in mature fields, particularly in the core Rajasthan block which delivered 59.9 kboepd in the quarter.

What changes now

Management has issued guidance for FY27, targeting production volumes between 73-77 kboepd and capital expenditure in the range of $320-340 million. The company is actively pursuing new growth avenues, including three recent discoveries in the Rajasthan block and deepwater exploration projects on the East Coast.

Risks to watch

The primary point of concern remains the Cambay block. The rejection of its Production Sharing Contract (PSC) extension is currently sub-judice before the Delhi High Court. Operations are currently being managed by ONGC on an interim basis, making this a critical legal matter for shareholders to follow.

Context metrics

• Net debt: Near-zero as of September 2026
• Liquid investments: Rs 2,639 crore
• Credit rating: AA+/Stable (ICRA)
• Average daily gross operated production: 72.2 kboepd (Q2 FY27)