Welcome to the
Integrated Report
and Annual
Accounts 2021-22
For businesses across the world, transformation is no longer a choice. It is a necessity in the face of market instability, unprecedented disruptions, and growing human aspirations. As a natural resources company that operates globally, we are cognisant of this world in flux. We understand the need to transform in order to create more value, build new efficiencies and chart new pathways of growth. But for any transformation to be meaningful, a rethink is necessary on how we are creating value and how we can sustain this ability in the face of future disruptions.
Know MoreVedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world’s foremost natural resources conglomerates, with primary interests in zinc-lead-silver, iron ore, steel, copper, aluminium, power, nickel, and oil and gas. We are leaders in most of the segments we operate in, and we cater to domestic and international primary materials demand, playing a key role in enabling resource sufficiency at scale.
We are focused on optimising capital allocation and maintaining a robust balance sheet while generating strong free cash flows. We also review all investments, taking into account the Group’s financial resources with a view to maximising returns to shareholders.
We invest in best-in-class equipment and machinery, both at our current operations and in our expansion projects to ensure we operate as efficiently and safely as possible. This also supports our strong and sustainable cash flow generation.
We have employees from across the world, and their diverse skills and experience enrich our organisation. The mining and plant operations require specialised skills for which we employ qualified technical, engineering and geology experts. In addition, we create a culture which nurtures safety, innovation, creativity and diversity, which helps us meet our business goals while also enabling our employees to grow personally and professionally.
We aim to forge strong partnerships by engaging with our key stakeholders, including shareholders and lenders, suppliers and contractors, employees, governments, communities and civil societies. These relationships help maintain and strengthen our licence to operate.
* Including only direct beneficiaries
80% market share in India’s primary zinc market
(Hindustan Zinc Limited)
Largest primary aluminium producer in India
c.9 GW power portfolio
Operates c.25% of India’s crude oil production
One of the largest merchant iron ore miners in India and one of the largest producers and exporters of merchant pig iron in India
3 mtpa design capacity
80 ktpa charge chrome / ferro chrome capacity with 100 MW power plant; 250 ktpa chrome ore mining capacity
One of the largest copper production capacity in India
DEAR STAKEHOLDERS,
At Vedanta, the pandemic challenged us to think differently and act swiftly, both from the perspectives of business continuity and social responsibility. With decisive actions and a strong stakeholder focus, we could mount the imminent challenges and continue to deliver value for everyone.
Anil Agarwal,
Chairman
DEAR STAKEHOLDERS,
It’s refreshing to write to you at a time of rebound and cautious optimism, post the peak of the pandemic that plagued us for the past two years. At Vedanta, we are proud to have weathered the COVID-19 situation with prudence and empathy and are even more confident of taking on challenges and exceeding expectations.
Anil Agarwal,
Chairman
*Excluding Power business
*Out of 42 million 39 million are from the e-shiksha program
We operate across the mining value chain focusing on longterm
and low-cost assets in India and Africa
India’s natural resources industry is likely to contribute substantially to the country’s economy and have a significant impact on the international commodity markets. As India’s largest and most diversified natural resources company, we are poised to play a major role in supporting India’s economic growth. We are making the right investments to grow exponentially, and working with the government to promote inclusive development, raise environmental standards and build public support for the critical minerals and mining sector.
Our five strategic focus areas reflect our integrated thinking that connects our purpose with our performance. They help us leverage our strengths, take advantage of opportunities, manage risks and navigate business cycles while taking into consideration the material concerns of our heterogeneous stakeholders.
Continue focus on world-class esg performance
Augment our reserves & resources (R&R) base
Optimise capital allocation and maintain a strong balance sheet
Delivering on growth opportunities
Operational excellence and cost leadership
Best Corporate Finance team and Best CFO
‘Icon of Trust | The Extraordinaire – Brand’ 2020-22
‘India’s Largest Silver Miner and Refiner’
Association of Business Communicators in India (ABCI)
