{"id":331347,"date":"2026-10-29T10:10:29","date_gmt":"2026-10-29T04:40:29","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=331347"},"modified":"2026-10-29T10:10:29","modified_gmt":"2026-10-29T04:40:29","slug":"vedanta-vs-vedanta-aluminium-q2-results-2026-compared-profit-revenue-ebitda-and-which-delivered-more-after-the-demerger","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/vedanta-vs-vedanta-aluminium-q2-results-2026-compared-profit-revenue-ebitda-and-which-delivered-more-after-the-demerger\/","title":{"rendered":"Vedanta vs Vedanta Aluminium: Q2 Results 2026 Compared on Profit, Revenue and EBITDA After the Demerger"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>In Vedanta vs Vedanta Aluminium, the Q2 profit is almost a tie: Vedanta Ltd reported Rs 6,202 crore and Vedanta Aluminium Metal Rs 6,187 crore, a gap of Rs 15 crore (my calculation), but Vedanta Aluminium earned it on lower revenue of Rs 22,066 crore against Rs 26,356 crore, at 9:56 AM IST on 29 Oct 2026 the shares were Rs 236.90 (up 1.65%) and Rs 353.45 (down 1.60%).<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">In Vedanta vs Vedanta Aluminium, Vedanta Ltd reported Q2 net profit of Rs 6,202 crore on revenue of Rs 26,356 crore, while Vedanta Aluminium Metal reported Rs 6,187 crore on revenue of Rs 22,066 crore, so the profit is nearly equal but Vedanta Aluminium converted more of its revenue, about 28% against about 23.5% (my calculation). Vedanta Aluminium&#8217;s profit rose 105% and its EBITDA rose 83% to Rs 10,192 crore, a margin near 46%. Vedanta&#8217;s 78% profit growth is not like-for-like because the demerger took effect on 1 May 2026. This is educational and not a recommendation.<\/p>\n<\/p><\/div>\n<p>After the demerger, Vedanta Ltd and Vedanta Aluminium Metal are separate listed companies with different mixes of metals and different balance sheets. This article compares Vedanta vs Vedanta Aluminium on the Q2 numbers, explains why the year-on-year growth figures need care, and covers debt, record volumes, share prices and risks.<\/p>\n<p>Two flags. The data provider&#8217;s revenue figures differ from the company figures (Rs 26,866 crore for Vedanta and Rs 22,671 crore for Vedanta Aluminium, probably because of other income), and one report shows growth percentages that contradict its own table. I use the company figures and +78% for Vedanta&#8217;s profit. It is educational and not advice.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=vedanta-vs-vedanta-aluminium-q2-results-2026-compared-profit-revenue-ebitda-and-which-delivered-more-after-the-demerger\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/vedanta-vs-vedanta-aluminium-q2-results-2026-compared-profit-revenue-ebitda-and-which-delivered-more-after-the-demerger\/#Vedanta_vs_Vedanta_Aluminium_Q2_Scorecard\" title=\"Vedanta vs Vedanta Aluminium: Q2 Scorecard\">Vedanta vs Vedanta Aluminium: Q2 Scorecard<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/vedanta-vs-vedanta-aluminium-q2-results-2026-compared-profit-revenue-ebitda-and-which-delivered-more-after-the-demerger\/#Vedanta_vs_Vedanta_Aluminium_Zinc_Silver_and_Copper_Drive_Vedanta_Ltd\" title=\"Vedanta vs Vedanta Aluminium: Zinc, Silver and Copper Drive Vedanta Ltd\">Vedanta vs Vedanta Aluminium: Zinc, Silver and Copper Drive Vedanta Ltd<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/vedanta-vs-vedanta-aluminium-q2-results-2026-compared-profit-revenue-ebitda-and-which-delivered-more-after-the-demerger\/#Vedanta_vs_Vedanta_Aluminium_Record_Output_and_a_Stronger_Balance_Sheet_at_Vedanta_Aluminium\" title=\"Vedanta vs Vedanta Aluminium: Record Output and a Stronger Balance Sheet at Vedanta Aluminium\">Vedanta vs Vedanta Aluminium: Record Output and a Stronger Balance Sheet at Vedanta Aluminium<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/vedanta-vs-vedanta-aluminium-q2-results-2026-compared-profit-revenue-ebitda-and-which-delivered-more-after-the-demerger\/#Market_Value_How_the_Market_Prices_Vedanta_vs_Vedanta_Aluminium\" title=\"Market Value: How the Market Prices Vedanta vs Vedanta Aluminium\">Market Value: How the Market Prices Vedanta vs Vedanta Aluminium<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/vedanta-vs-vedanta-aluminium-q2-results-2026-compared-profit-revenue-ebitda-and-which-delivered-more-after-the-demerger\/#Why_the_Two_Companies_Behave_Differently_in_Vedanta_vs_Vedanta_Aluminium\" title=\"Why the Two Companies Behave Differently in Vedanta vs Vedanta Aluminium\">Why the Two Companies Behave Differently in Vedanta vs Vedanta Aluminium<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/vedanta-vs-vedanta-aluminium-q2-results-2026-compared-profit-revenue-ebitda-and-which-delivered-more-after-the-demerger\/#Which_Delivered_More_Vedanta_vs_Vedanta_Aluminium\" title=\"Which Delivered More? Vedanta vs Vedanta Aluminium\">Which Delivered More? Vedanta vs Vedanta Aluminium<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/vedanta-vs-vedanta-aluminium-q2-results-2026-compared-profit-revenue-ebitda-and-which-delivered-more-after-the-demerger\/#Risks_in_Vedanta_vs_Vedanta_Aluminium\" title=\"Risks in Vedanta vs Vedanta Aluminium\">Risks in Vedanta vs Vedanta Aluminium<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/vedanta-vs-vedanta-aluminium-q2-results-2026-compared-profit-revenue-ebitda-and-which-delivered-more-after-the-demerger\/#Conclusion_Vedanta_vs_Vedanta_Aluminium_Is_a_Tie_on_Profit_Not_on_Quality\" title=\"Conclusion: Vedanta vs Vedanta Aluminium Is a Tie on Profit, Not on Quality\">Conclusion: Vedanta vs Vedanta Aluminium Is a Tie on Profit, Not on Quality<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/vedanta-vs-vedanta-aluminium-q2-results-2026-compared-profit-revenue-ebitda-and-which-delivered-more-after-the-demerger\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/vedanta-vs-vedanta-aluminium-q2-results-2026-compared-profit-revenue-ebitda-and-which-delivered-more-after-the-demerger\/#What_were_the_Q2_profits_in_Vedanta_vs_Vedanta_Aluminium\" title=\"What were the Q2 profits in Vedanta vs Vedanta Aluminium?\">What were the Q2 profits in Vedanta vs Vedanta Aluminium?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/vedanta-vs-vedanta-aluminium-q2-results-2026-compared-profit-revenue-ebitda-and-which-delivered-more-after-the-demerger\/#Which_company_had_higher_revenue\" title=\"Which company had higher revenue?\">Which company had higher revenue?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/vedanta-vs-vedanta-aluminium-q2-results-2026-compared-profit-revenue-ebitda-and-which-delivered-more-after-the-demerger\/#What_was_Vedanta_Aluminiums_EBITDA_in_Vedanta_vs_Vedanta_Aluminium\" title=\"What was Vedanta Aluminium&#8217;s EBITDA in Vedanta vs Vedanta Aluminium?\">What was Vedanta Aluminium&#8217;s EBITDA in Vedanta vs Vedanta Aluminium?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/vedanta-vs-vedanta-aluminium-q2-results-2026-compared-profit-revenue-ebitda-and-which-delivered-more-after-the-demerger\/#Why_is_the_Vedanta_growth_rate_not_like-for-like\" title=\"Why is the Vedanta growth rate not like-for-like?\">Why is the Vedanta growth rate not like-for-like?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/vedanta-vs-vedanta-aluminium-q2-results-2026-compared-profit-revenue-ebitda-and-which-delivered-more-after-the-demerger\/#What_are_the_share_prices_in_Vedanta_vs_Vedanta_Aluminium_today\" title=\"What are the share prices in Vedanta vs Vedanta Aluminium today?\">What are the share prices in Vedanta vs Vedanta Aluminium today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/vedanta-vs-vedanta-aluminium-q2-results-2026-compared-profit-revenue-ebitda-and-which-delivered-more-after-the-demerger\/#Which_has_the_larger_market_value_in_Vedanta_vs_Vedanta_Aluminium\" title=\"Which has the larger market value in Vedanta vs Vedanta Aluminium?\">Which has the larger market value in Vedanta vs Vedanta Aluminium?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/vedanta-vs-vedanta-aluminium-q2-results-2026-compared-profit-revenue-ebitda-and-which-delivered-more-after-the-demerger\/#What_records_did_Vedanta_Aluminium_set\" title=\"What records did Vedanta Aluminium set?\">What records did Vedanta Aluminium set?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/vedanta-vs-vedanta-aluminium-q2-results-2026-compared-profit-revenue-ebitda-and-which-delivered-more-after-the-demerger\/#Is_this_article_investment_advice\" title=\"Is this article investment advice?\">Is this article investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Vedanta_vs_Vedanta_Aluminium_Q2_Scorecard\"><\/span><strong>Vedanta vs Vedanta Aluminium: Q2 Scorecard<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vedanta vs Vedanta Aluminium: Q2 item<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vedanta Ltd<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vedanta Aluminium Metal<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue (Rs crore)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">26,356<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">22,066 (up 41%)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBITDA (Rs crore)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Not stated in my source<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">10,192 (up 83%)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBITDA margin (my calculation)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Not available<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 46%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Profit before tax (Rs crore)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">8,390<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Not stated in my source<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net profit (Rs crore)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">6,202 (up 78%, not like-for-like)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">6,187 (up 105%)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net profit margin (my calculation)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 23.5%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 28.0%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Share price, 9:56 AM IST<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 236.90, up 1.65%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 353.45, down 1.60%<\/td>\n<\/tr>\n<\/table>\n<p>The profit gap of Rs 15 crore is smaller than any rounding error in the comparison of Vedanta vs Vedanta Aluminium, but revenue differs by about Rs 4,290 crore (my calculation). Vedanta Aluminium&#8217;s higher margin comes from a pure aluminium and alumina business at current prices, while Vedanta&#8217;s revenue base includes zinc, silver, copper and other lower-margin items.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Compare metal and mining stocks on Univest<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Vedanta_vs_Vedanta_Aluminium_Zinc_Silver_and_Copper_Drive_Vedanta_Ltd\"><\/span><strong>Vedanta vs Vedanta Aluminium: Zinc, Silver and Copper Drive Vedanta Ltd<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vedanta vs Vedanta Aluminium: Vedanta segment (Q2)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Revenue (Rs crore)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Share of total (my calculation)<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Zinc, lead and silver (India)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">14,525<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 55%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Copper<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">9,280<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 35%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Zinc International<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">1,730<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 7%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Others<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">710<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 3%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Reported revenue<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">26,356<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Segments add to 26,245; the difference of about 111 is not explained in my source<\/td>\n<\/tr>\n<\/table>\n<p>Zinc, lead and silver is the largest earner, and silver prices have been strong, which helps the segment. For H1, Vedanta reported revenue of Rs 59,872 crore and net profit of Rs 14,120 crore. The year-on-year comparisons are not like-for-like, because the demerger took effect on 1 May 2026 and moved businesses into separate companies, so the 78% rise in Q2 profit from Rs 3,479 crore is not a clean growth rate.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Vedanta and Vedanta Aluminium share prices.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Vedanta_vs_Vedanta_Aluminium_Record_Output_and_a_Stronger_Balance_Sheet_at_Vedanta_Aluminium\"><\/span><strong>Vedanta vs Vedanta Aluminium: Record Output and a Stronger Balance Sheet at Vedanta Aluminium<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vedanta vs Vedanta Aluminium: VAML measure (Q2)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Figure<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 22,066 crore, up 41%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBITDA<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 10,192 crore, up 83%, margin about 46% (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net profit<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 6,187 crore, up 105%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Aluminium output<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">649 KT, a record<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Value-added products<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">432 KT, a record<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Alumina output<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">895 KT<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net debt<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down Rs 3,090 crore from the previous quarter; net debt to EBITDA 0.7 times<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Credit rating<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Upgraded to AA+ by India Ratings<\/td>\n<\/tr>\n<\/table>\n<p>The key point for Vedanta vs Vedanta Aluminium is the balance sheet: net debt to EBITDA of 0.7 times is low for a capital-heavy business, and the rating upgrade to AA+ lowers its borrowing cost over time. Record volumes with higher prices explain the profit rise, so the quarter benefited from both volume and price. If aluminium prices fall, the profit would fall faster than volume.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Value_How_the_Market_Prices_Vedanta_vs_Vedanta_Aluminium\"><\/span><strong>Market Value: How the Market Prices Vedanta vs Vedanta Aluminium<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vedanta vs Vedanta Aluminium: valuation item<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vedanta Ltd<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vedanta Aluminium Metal<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Market capitalisation (previous close)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About Rs 91,112 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About Rs 1.40 lakh crore (my estimate)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Share price move on results<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Reports differ: up 1.99% and up 3.10%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 1.60% on 29 Oct at 9:56 AM IST<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Data provider P\/E and dividend yield<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">P\/E 2.91; yield 14.59%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Distorted by the demerger<\/td>\n<\/tr>\n<\/table>\n<p>Vedanta Aluminium Metal is valued about 54% higher than Vedanta Ltd (my calculation from the two figures), even though its Q2 profit is almost identical. That reflects the market paying more for a cleaner, lower-debt aluminium business, while Vedanta&#8217;s discount reflects debt, complexity and group risk. The data provider&#8217;s P\/E of 2.91 and dividend yield of 14.59% for Vedanta are distorted by the demerger and one-off items, so I do not rely on them.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_the_Two_Companies_Behave_Differently_in_Vedanta_vs_Vedanta_Aluminium\"><\/span><strong>Why the Two Companies Behave Differently in Vedanta vs Vedanta Aluminium<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Vedanta Aluminium Metal sells mainly aluminium, alumina and value-added aluminium products, so its profit follows one metal and its input costs of power, coal and alumina. Vedanta Ltd sells zinc, lead, silver and copper, so its profit follows four or five metals and gains when any of them rises. That diversification smooths earnings in good and bad years, but it also makes the company harder to track. In Vedanta vs Vedanta Aluminium, the choice is between a focused earner and a broader but more complex one.<\/p>\n<p>A second difference is the balance sheet. Vedanta Aluminium Metal&#8217;s net debt to EBITDA of 0.7 times means interest takes a small share of operating profit. The Vedanta Ltd debt figure was not in my source, so I cannot compare it directly, and the comparison of the two should be updated when the filing details are read.<\/p>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vedanta vs Vedanta Aluminium: what to track next quarter<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vedanta Ltd<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vedanta Aluminium Metal<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price drivers<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Zinc, silver and copper prices<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Aluminium price and input costs<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Operating signals<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Segment revenue and volumes<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Output, value-added share and EBITDA margin<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Balance sheet<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Debt and cash after the demerger<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net debt to EBITDA near 0.7 times<\/td>\n<\/tr>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Which_Delivered_More_Vedanta_vs_Vedanta_Aluminium\"><\/span><strong>Which Delivered More? Vedanta vs Vedanta Aluminium<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vedanta vs Vedanta Aluminium: question<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Better of the two<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Why<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Higher revenue<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Vedanta Ltd<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 26,356 crore against Rs 22,066 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Higher net profit<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About equal<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 6,202 crore against Rs 6,187 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Higher profit margin<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Vedanta Aluminium<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 28% against about 23.5%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Stronger balance sheet<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Vedanta Aluminium<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net debt to EBITDA of 0.7 times and AA+ rating<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Diversification<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Vedanta Ltd<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Zinc, silver and copper as well as other segments<\/td>\n<\/tr>\n<\/table>\n<p>The answer to Vedanta vs Vedanta Aluminium depends on what you want from a metals stock. Vedanta Ltd offers wider commodity exposure, including silver and zinc, with a lower valuation and more complexity. Vedanta Aluminium Metal offers a focused aluminium story with record output and strong cash generation. Commodity prices will decide the next quarter for both.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_in_Vedanta_vs_Vedanta_Aluminium\"><\/span><strong>Risks in Vedanta vs Vedanta Aluminium<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li><strong>Commodity prices.<\/strong> Profit in both companies moves with aluminium, zinc, silver and copper prices, which can fall quickly.<\/li>\n<li><strong>Demerger effects.<\/strong> Year-on-year comparisons are not like-for-like, so growth rates can mislead in Vedanta vs Vedanta Aluminium.<\/li>\n<li><strong>Debt and group risk.<\/strong> In Vedanta vs Vedanta Aluminium, Vedanta Ltd carries more complexity than Vedanta Aluminium Metal, and group-level issues can affect both.<\/li>\n<li><strong>Data conflicts.<\/strong> Revenue and growth figures differ across sources, so check the filings.<\/li>\n<li><strong>Input costs.<\/strong> Power, coal and alumina costs affect aluminium margins.<\/li>\n<li><strong>Market conditions.<\/strong> Oil near $114 and weak markets can pressure cyclical stocks.<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion_Vedanta_vs_Vedanta_Aluminium_Is_a_Tie_on_Profit_Not_on_Quality\"><\/span><strong>Conclusion: Vedanta vs Vedanta Aluminium Is a Tie on Profit, Not on Quality<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In Vedanta vs Vedanta Aluminium, the profit is nearly equal, but Vedanta Aluminium shows the higher margin, the stronger balance sheet and record volumes, while Vedanta Ltd offers diversification and a lower valuation. Check the filings, remember that growth rates are affected by the demerger, and decide according to your own risk profile.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_were_the_Q2_profits_in_Vedanta_vs_Vedanta_Aluminium\"><\/span><strong>What were the Q2 profits in Vedanta vs Vedanta Aluminium?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Vedanta Ltd reported net profit of Rs 6,202 crore and Vedanta Aluminium Metal Rs 6,187 crore, a difference of Rs 15 crore (my calculation). Vedanta Aluminium&#8217;s profit rose 105%, while Vedanta&#8217;s 78% rise is not like-for-like.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_company_had_higher_revenue\"><\/span><strong>Which company had higher revenue?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Vedanta Ltd had revenue of Rs 26,356 crore against Rs 22,066 crore for Vedanta Aluminium Metal. The data provider shows slightly different figures that include other income.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_was_Vedanta_Aluminiums_EBITDA_in_Vedanta_vs_Vedanta_Aluminium\"><\/span><strong>What was Vedanta Aluminium&#8217;s EBITDA in Vedanta vs Vedanta Aluminium?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> EBITDA was Rs 10,192 crore, up 83%, a margin of about 46% (my calculation). Net debt fell by Rs 3,090 crore from the previous quarter and net debt to EBITDA is 0.7 times.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_is_the_Vedanta_growth_rate_not_like-for-like\"><\/span><strong>Why is the Vedanta growth rate not like-for-like?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The demerger took effect on 1 May 2026, so the year-ago figures include businesses that are now separate. The rise from Rs 3,479 crore to Rs 6,202 crore should be read with that in mind.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_share_prices_in_Vedanta_vs_Vedanta_Aluminium_today\"><\/span><strong>What are the share prices in Vedanta vs Vedanta Aluminium today?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> At 9:56 AM IST on 29 Oct 2026, Vedanta Ltd was Rs 236.90, up 1.65%, and Vedanta Aluminium Metal was Rs 353.45, down 1.60%, both on the NSE.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_has_the_larger_market_value_in_Vedanta_vs_Vedanta_Aluminium\"><\/span><strong>Which has the larger market value in Vedanta vs Vedanta Aluminium?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> At the previous close Vedanta Ltd had a market capitalisation of about Rs 91,112 crore and Vedanta Aluminium Metal about Rs 1.40 lakh crore (my estimate), roughly 54% higher.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_records_did_Vedanta_Aluminium_set\"><\/span><strong>What records did Vedanta Aluminium set?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> It reported record aluminium output of 649 KT and record value-added products of 432 KT, along with alumina output of 895 KT. India Ratings upgraded it to AA+.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_article_investment_advice\"><\/span><strong>Is this article investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What were the Q2 profits in Vedanta vs Vedanta Aluminium?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Vedanta Ltd reported net profit of Rs 6,202 crore and Vedanta Aluminium Metal Rs 6,187 crore, a difference of Rs 15 crore (my calculation). Vedanta Aluminium's profit rose 105%, while Vedanta's 78% rise is not like-for-like.\"}},{\"@type\":\"Question\",\"name\":\"Which company had higher revenue?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Vedanta Ltd had revenue of Rs 26,356 crore against Rs 22,066 crore for Vedanta Aluminium Metal. The data provider shows slightly different figures that include other income.\"}},{\"@type\":\"Question\",\"name\":\"What was Vedanta Aluminium's EBITDA in Vedanta vs Vedanta Aluminium?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"EBITDA was Rs 10,192 crore, up 83%, a margin of about 46% (my calculation). Net debt fell by Rs 3,090 crore from the previous quarter and net debt to EBITDA is 0.7 times.\"}},{\"@type\":\"Question\",\"name\":\"Why is the Vedanta growth rate not like-for-like?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The demerger took effect on 1 May 2026, so the year-ago figures include businesses that are now separate. 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India Ratings upgraded it to AA+.\"}},{\"@type\":\"Question\",\"name\":\"Is this article investment advice?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Vedanta vs Vedanta Aluminium compared on Q2 profit (Rs 6,202 crore vs Rs 6,187 crore), revenue, EBITDA, debt and share price after the demerger, with the caveats you need.<\/p>\n","protected":false},"author":29,"featured_media":331346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[17564,17559,17558,17561,17560,17562,17557,7759,17556,17563],"class_list":["post-331347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-metal-stocks-q2-2026","tag-vaml-share-price","tag-vedanta-aluminium-metal-q2","tag-vedanta-aluminium-profit","tag-vedanta-demerger","tag-vedanta-ebitda","tag-vedanta-q2-results","tag-vedanta-share-price","tag-vedanta-vs-vedanta-aluminium","tag-vedanta-zinc-silver-copper"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["331346"],"rank_math_title":["Vedanta vs Vedanta Aluminium: Q2 Results 2026 Compared"],"rank_math_description":["Vedanta vs Vedanta Aluminium compared on Q2 profit (Rs 6,202 crore vs Rs 6,187 crore), revenue, EBITDA, debt and share price after the demerger, plus the caveats."],"rank_math_focus_keyword":["Vedanta vs Vedanta Aluminium"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/vedanta-vs-vedanta-aluminium-q2-results-2026-compared-on-profit-revenue-and.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/331347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=331347"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/331347\/revisions"}],"predecessor-version":[{"id":331348,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/331347\/revisions\/331348"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/331346"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=331347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=331347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=331347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}