Whalesbook
Arey yaar, Vedanta ke stock mein ekdum gadbad ho gayi! Q4 aur FY26 ke results toh waah waah hain, company ne record revenue aur profit kamaya hai. Par stock prices ne toh neeche muh kar liya. Asal mein, ye sab company ke demerger plan ki wajah se hua.
Dekho toh sahi, Q4 mein revenue 30.6% badh kar ₹52,851 crore ho gaya aur net profit 88.5% boom kar ₹9,352 crore pahunch gaya. Poore saal FY26 mein bhi revenue 15.8% badh kar ₹1,77,194 crore aur net profit 22.2% badh kar ₹25,096 crore raha. Company ne ₹34 per share ka dividend bhi diya hai, jo shareholders ke liye achhi khabar hai.
Lekin market ne in numbers ko thoda side mein rakh diya. Thursday ko stock ex-demerger trade kar raha tha, matlab naye shares distribute hone wale hain. Is wajah se price adjust ho gaya, aur investors abhi is demerger ko execute karne ke risks aur market ki volatility pe zyada dhyaan de rahe hain, results se zyada.
Company ne operational bhi kaafi achha perform kiya hai. Aluminium mein 2,456 kt aur Zinc India mein 1,114 kt ka record production hua hai, woh bhi multi-year low costs par.
Ab agar competitors ko dekho, toh Vedanta ka P/E ratio 15.36x-24.0x ke aas paas hai (April 2026 mein), jo NMDC (10.4x-11.58x) aur Coal India (8.96x-15.25x) se zyada hai, aur Hindalco (14.34x-14.92x) ke lagbhag barabar ya thoda upar hai. Vedanta ka market cap ₹3.03 lakh crore hai, jo bada player banaata hai.
Aage chal kar metals and mining sector mein demand toh badhni chahiye, par global commodity prices ka scene thoda shaky hai. Copper $10,000-$11,000 per tonne aur Aluminium $2,300-$2,750 per tonne (2026 forecast) mein uncertainty hai, aur crude oil toh geopolitics ki wajah se kabhi bhi upar neeche ho sakta hai. Ye sab Vedanta ki future earnings ko affect karega, especially jab demerged companies in markets mein operate karengi.
Analyst keh rahe hain ki ye achhi performance kaafi had tak commodity prices ki wajah se hai, na ki koi structural improvement ke karan. Toh demerger ke baad, jab companies alag ho jayengi, unko debt manage karna aur growth opportunities pakadna mushkil ho sakta hai. Market abhi isi cheez ko judge kar raha hai.
Overall, demerger ka aim toh value unlock karna hai, par yeh sab tabhi hoga jab Vedanta ki alag hui companies market ki uncertainty aur commodity cycles ko safaltapoorvak handle kar payengi. Investors abhi yahi dekhna chahte hain.