Vedanta Shares Slip 3% After 20% Monthly Surge; Investors Eye Demerged Units’ Listing

Vedanta shares (NSE: VEDL) are trading at ₹342.30 on June 1, 2026, recovering steadily from the ex-demerger adjusted price of ₹289.50 set on April 30. The 52-week range runs from ₹157.17 to ₹360.00, placing the stock near its upper boundary. Behind the price action is a business that just delivered its strongest-ever financial performance. Q4 FY26 profit surged 89% year-on-year to ₹9,352 crore. Full-year revenue hit a record ₹1,74,075 crore. With four new entities set to list by mid-June 2026, the Vedanta story is entering a structurally different phase.

Record FY26 Numbers Across Every Metric

Vedanta’s FY26 results, announced on April 29, 2026, left little room for doubt about the direction of the business.

The full-year profit stood at ₹25,096 crore, up 22% year-on-year, with revenue at ₹1,74,075 crore, up 15%, and EBITDA at ₹55,976 crore, up 29%. The quarterly performance was even sharper. EBITDA jumped 59% to a record ₹18,447 crore, with margin expanding to 44%, up 915 basis points year-on-year. Cash and equivalents rose 38% to ₹28,485 crore.

What Drove the Numbers?

Three factors combined to produce these results: higher LME prices for aluminium, zinc, and silver; improved production volumes; and disciplined cost management. Aluminium production reached 2.46 MTPA, zinc mined metal hit a record 1.11 MTPA, and net debt-to-EBITDA improved to 0.95x, the best in 14 quarters.

Key takeaway: Vedanta’s FY26 results are not a one-quarter spike. Every major metric revenue, EBITDA, profit, and cash flow hit an all-time high simultaneously.

FY26 Financial Snapshot

Metric	FY26 Result	YoY Change
Revenue	₹1,74,075 crore	+15%
EBITDA	₹55,976 crore	+29%
PAT (Full Year)	₹25,096 crore	+22%
Q4 PAT	₹9,352 crore	+89%
Net Debt / EBITDA	0.95x	vs 1.22x prior year
Cash & Equivalents	₹28,485 crore	+38%
Total Dividend FY26	₹34 per share	—
Total Shareholder Return	48.6%	Outperformed Nifty Metal 2x

The Demerger: Four New Companies, One Big Catalyst

The single most significant structural event for Vedanta shares in 2026 is the demerger. Vedanta’s demerger came into effect on May 1, 2026. Under the demerger scheme, the company split its existing business into five separate entities. The four new companies are Vedanta Aluminium Metal Limited, Vedanta Power, Vedanta Oil & Gas, and Vedanta Iron and Steel Limited.

When Will the New Shares List?

Vedanta Resources CEO Deshnee Naidoo confirmed that the shares of the resulting companies are expected to list and commence trading by mid-June. CFO Ajay Goel stated the company is targeting listing and commencement of trading within the first quarter of FY27.

Eligible shareholders are those who held Vedanta shares on or before April 29, 2026. Under the 1:1 ratio, they receive one share of each of the four new entities for every one Vedanta share held.

Key takeaway: The mid-June listing window is now the primary near-term catalyst for Vedanta shares. Four separate pure-play businesses coming to market could significantly accelerate price discovery across the group.

Debt Reduction and FY27 Outlook

Vedanta’s balance sheet is improving at pace. After reducing debt by about $1.5 billion in FY26, the company plans to cut a further $1.75 billion in FY27, with a target to bring its net debt-to-EBITDA ratio down to around 0.65x.

On the technical side, Ravi Singh, Chief Research Officer at Master Capital Services, said Vedanta remains one of the stronger names in the metals space, with the stock steadily climbing towards fresh highs. From a technical perspective, the trend remains firmly positive as long as the stock holds above ₹335. On the upside, ₹360–370 is the next important resistance zone to watch.

Analyst consensus from Business Standard and Motilal Oswal places the 12-month Vedanta share price target range at ₹480–₹550, implying 40–60% upside from current levels.

Wrapping Up

Vedanta shares at ₹342.30 on June 1, 2026, reflect a company at an inflection point. Record FY26 earnings, a ₹34 per share dividend, a debt-to-EBITDA ratio at its best in 14 quarters, and four new entities approaching mid-June listings make this one of the most data-rich moments in Vedanta’s recent history. The FY27 debt cut target of $1.75 billion and a technical support level at ₹335 define the near-term framework. Track live updates on Vedanta at MoneyControl and Business-Standard for the latest exchange filings and listing dates.

Disclaimer

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