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History of Vedanta

Incorporated on June 26, 1965, Vedanta Limited (formerly known as Sesa Sterlite Limited) is a subsidiary of Vedanta Resources Limited. Vedanta is a leading conglomerate worldwide for natural resources and technology operating across India, Liberia, South Africa and Namibia. The company manufactures a diverse range of essential products crucial for global decarbonisation and energy transition with material intensity. There are more than 87,500 direct and indirect employees in the company. The company has iron ore mining projects in India. They also export to other regions like the Middle East and South East Africa. Vedanta established a comprehensive framework to lead in ESG within the natural resources sector. The company is dedicated to achieving carbon neutrality by 2050 or even earlier, with a commitment to invest $5 billion over the next decade to accelerate the shift to net-zero operations. In March 1981, Vedanta Limited launched its IPO with 22,05,000 equity shares. The company has been recognised with several awards, including the Gold and Silver Award for Sesa Goa Iron Ore Karnataka Division, India’s Largest Silver Miner and Refiner by the AIGC Excellence Award Committee, and many more. Most importantly, the company was ranked 6 by S&P Global Corporate Sustainability Assessment 2022.

Vedanta Business Segments

The business range of Vedanta includes:

• Oil & Gas - The company partnered with Cairn Oil & Gas in 2017 to fuel India's energy requirements. Vedanta and Cairn Oil & Gas have reduced the country’s dependency on imports by producing oil and gas locally. These two companies contribute more than 25% of India’s annual oil and gas production.Their Mangala field in Rajasthan is India's largest onshore oil discovery in over 10 years.

• Iron Ore - Sesa Goa Iron Ore, part of the Vedanta Group, is involved in the exploration, mining, and processing of iron ore. The company produces 60 MW of clean power using waste heat recovery from its coke ovens and blast furnace gas at their two power plants of 30 MW each. The company’s product range also includes cement and nickel-cobalt.

• Zinc, Lead, and Silver - The company is involved in zinc, lead and silver through Hindustan Zinc Limited (HZL) and Vedanta Zinc International (VZI).

• Aluminium - Vedanta Aluminium is a global leader in producing top-quality aluminium products and specialised alloys widely used in various industries.

• Copper - The copper business of Vedantais done under Sterlite Copper. It is one of the country’s leading contributors to copper production.

• Power - Vedanta is in the power sector through its subsidiary Talwandi Sabo Power Limited (TSPL), which operates a 1980 MW thermal coal power plant in Punjab with 3 units of 660 MW each. TSPL provides all of its generated power to Punjab State Electricity Board (PSEB) for household electricity. Along with PSEB, the company has power purchase agreements with the state distribution companies of Odisha, Kerala, Tamil Nadu and Chhattisgarh for commercial use.

• Ferrochrome - The company produces and exports ferro alloys through its subsidiary, Ferro Alloys Corporation Limited (FACOR).

• Steel - The company manufactures steel through ESL Steel Limited, which was acquired by Vedanta in 2018.

A few of the subsidiary companies under Vedanta Limited include:

• Hindustan Zinc Limited (HZL) - This is a publicly listed company where Vedanta holds a 64.92% stake. The company is involved in the business of exploring, extracting and processing zinc, lead and silver.
• Bharat Aluminium Company Limited (BALCO) - This is one of the leading global aluminium producers. They produce ingots, wire rods, ingots and rolled products. Vedanta holds a 51% stake in this company.
• Vedanta Zinc International - This company is involved in zinc mining and refining located in South Africa, Ireland and Namibia. It is a wholly-owned subsidiary of Vedanta.
• Talwandi Sabo Power - This is a wholly-owned subsidiary of Vedanta, which is involved in power generation.
• ESL Steel Limited - Vedanta holds a stake of 95.49% in ESL Steel Limited. The company manufactures and supplies ductile iron pipes, TMT bars, billets, and wire rods in India.
• Ferro Alloys Corporation Limited (FACOR) - The company is involved in producing and exporting ferroalloys. Vedanta holds a 99.99% stake in this company.

Vedanta Management Team

• Anil Agarwal, Founder

Anil Agarwal is the Founder and Non-Executive Chairman of Vedanta Limited. He possesses over 40 years of experience in mining and entrepreneurship. He is the director of Anil Agarwal Foundation, Conclave PTC Limited and Sterlite Technologies Limited.

• Arun Misra, Executive Director

Arun Misra is the Executive Director of Vedanta Ltd. He is also the CEO of Vedanta’s Zinc business, Hindustan Zinc Limited (HZL), the Vice President of the Indian Institute of Mineral Engineers and the Vice Chairman of Confederation of Indian Industry (CII), Rajasthan. Previously, he was managing the growth and operations of Vedanta Zinc International.

Vedanta Corporate Actions

In 2008, Vedanta declared a bonus share of 1:1 ratio and an ex-date of August 8, 2008.

Vedanta SWOT Analysis 

Strengths

• Vedanta has a customer base all over the world. They hold a strong network.
• The company has a successful track record in developing new products.

Weakness

• There were instances where the company’s name was involved in alleged illegal mining activities.
• Government interference in mining operations may lead to operational inefficiencies.

Opportunities 

• The company can venture in new market segments.
• The company can expand the business in new regions through the London headquarters.

Threats

• Being involved in mining activities, the company needs to follow environmental rules.