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Vedanta aluminium metal has reported steady volume print for Q2FY27

ICICIdirect Research 05 Oct 2026 DISCLAIMER

News: Vedanta aluminium metal has reported steady volume print for Q2FY27. Aluminium production for the quarter increased by 5% YoY to 649 kt, while alumina production rose by 37% YoY to 895 kt in the quarter.

View: While the aluminium production of the company increased during the quarter, driven by the ramp up of new smelter (operational capacity reached 50% of planned expansion) and increased efficiency of existing mines. However, it came below our expectations. Nonetheless, the alumina production benefited from expansion-led volume additions and grew 6% QoQ. Moreover, the company also witnessed robus growth in value added production which grew to 432 kt (up 31% YoY) due to heavy downstream demand and growing automotive sector. Additionally, Consent to Operate has been issued for its Sijimali Bauxite Block. We maintain a positive long-term view on the stock, supported by its leadership position in the domestic aluminium industry, favourable demand outlook, capital-efficient operations, and healthy dividend yield.

Impact: Neutral

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