Vedanta Q3 results: Phillip Capital expects Vedanta to report a 30 per cent YoY drop in net profit at Rs 1,097.40 crore compared with Rs 1,561 crore in the same quarter last year.
Vedanta share price: The real issue for the stock’s underperformance, Nuvama said, has been the continuous overhang of parent company’s debt, whose repayment has now been deferred to FY27.
Vedanta share price today: Moody's downgraded Vedanta Resources' CFR to Caa3 from Caa2 and its senior unsecured bonds to Ca from Caa3. It retained its negative rating outlook. The rating agency had last cut VRL ratings in Sept 2023.
Vedanta s ratings reflect its unsustainable capital structure characterised by high financial leverage at the holding company and its perennially weak liquidity amid a period of continued large negative free cash flow, Moody s said.
Vedanta Resources has launched a liability management exercise to restructure repayments of about $3.8 billion on bonds that are set to mature over the next three years after it secured funds from a bank and private credit funds.