• Demerger listing timeline: Listing applications for the four newly demerged entities will be filed next week, with trading expected to commence around mid-to-late June within Q1.
• Aluminium earnings outlook: With aluminium prices around $3,500 per ton and margins exceeding $2,000 per ton, management expects pricing strength to hold for at least six quarters and views ₹30,000 crore FY27 EBITDA as potentially conservative.
• Currency depreciation impact: As a net foreign exchange earner through exports, every one-rupee depreciation against the US dollar delivers over ₹1,000 crore in additional EBITDA profitability.
• Deleveraging targets: Parent entity Vedanta Resources plans to reduce its debt from $5 billion to below $3 billion over the next three years, while the Indian operations aim for another $1.5 billion in debt reduction in FY27.