Revenue from operations climbed 57% year on year and 10% quarter on quarter to a record Rs 25,812 crore.

EBITDA more than doubled, rising 106% year on year and 17% quarter on quarter to a record Rs 9,938 crore. The EBITDA margin, excluding the copper business, stood at 60%, expanding 1,055 basis points year on year and 293 basis points quarter on quarter.

Vedanta reduced its net debt by Rs 4,624 crore quarter on quarter to Rs 3,675 crore at the end of September 2026, compared with Rs 8,299 crore in June 2026. Its net debt-to-EBITDA ratio improved to 0.1x from 0.3x in Q1 FY27.

Free cash flow before capital expenditure stood at Rs 5,803 crore in Q2 FY27, compared with Rs 4,412 crore in the previous quarter. Cash and cash equivalents increased to Rs 26,622 crore from Rs 19,992 crore at the end of Q1 FY27.

The company invested Rs 1,135 crore in growth capital expenditure during the quarter. Its board also declared an interim dividend of Rs 5 per share.

Operationally, Zinc India's mined metal production reached a quarterly record of 271 kilotonnes, up 5% year on year. Silver production increased 20% to 173 tonnes. Zinc International commissioned Phase II of its Gamsberg project, adding 200 kilotonnes per annum of mined metal concentrate capacity and taking its total capacity to 500 kilotonnes per annum.

FACOR recorded ore production of 50 kilotonnes, up 6% year on year, while ferrochrome production rose 26% to 24 kilotonnes. Dispatch volumes at Vizag General Cargo Berth increased 26% to a record 1.74 million tonnes.

The company said ICRA and CRISIL reaffirmed its credit rating at AA+/Stable.

Vedanta is a global producer of metals, critical minerals and technology, with operations across India, Africa, the Middle East and East Asia.