Over the last three years, Vedanta has actively reduced its debt and continues to strengthen its financial structure, Naidoo told shareholders
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DANISH SIDDIQUI
Officials of Vedanta Ltd again denied all the allegations made by US short-seller Viceroy Research against the Vedanta group and said the report contained no new findings to rattle investors.
Answering investors’ queries on the allegations, at the company’s annual general meeting, Deshnee Naidoo, Chief Executive Officer, Vedanta said the report released by short seller Viceroy Research contains “nothing that we have not already disclosed”.
Naidoo, while speaking at the AGM, said that the report merely compiles partial, publicly available information and takes it out of context. “The authors have only presented part of the picture,” she said.
Released a day before the company’s AGM, the report claimed that the company’s group structure was ‘financially unsustainable’ and presented a ‘material risk’ to its creditors.
Reducing debts
Over the last three years, Vedanta has actively reduced its debt and continues to strengthen its financial structure, Naidoo told shareholders.
The company plans to invest ₹50,000 crore over the next 3–4 years with all projects targeting an internal rate of return of at least 18 per cent.
On the impact of global unrest, Naidoo said that only 2 per cent of Vedanta’s revenue is exposed to the US and the group is unlikely to face any significant impact from potential tariffs or macroeconomic disruptions in that region.
Plans to incubate 1,000 deep-tech start-ups
Addressing shareholders at the AGM, Anil Agarwal, Chairman, Vedanta Resources said the 3D strategy of Demerger, Diversification and Deleveraging will enable the company to double in size and unlock maximum value to stakeholders. He said that Vendanta was in advanced stages of executing its ‘value unlock’ proposal.
“Each business will get a renewed focus, new investors, and a unique opportunity to achieve its full potential,” he said.
Vedanta has secured 10 critical mineral blocks across India, one of the largest by any private sector company and this reinforces Vedanta’s transformation into a critical minerals, energy transition metals, energy, and technology conglomerate.
The company is also setting up the world’s first industrial Zinc Park and India’s largest Aluminium Park, aimed at nurturing thousands of MSMEs and creating lakhs of employment opportunities, marking the beginning of a metal revolution in India, he said.
Vedanta also announced that it will incubate 1000 deep-tech start-ups, through what is set to become one of India’s largest industrial incubator platforms in the manufacturing sector. These initiatives aim to future-proof operations and support India’s broader goals of self-reliance and economic leadership, he said.
Published on July 10, 2025