Vedanta Ltd announced its operational results for Q2FY’22 on 4 Oct’21. Total iron ore production for the quarter was recorded at 1.3 million tonnes (mn t), sourced entirely from its Karnataka mines. Production fell by 11% as against 1.5 mn t in Q2FY’21.
On a quarterly basis, total output decreased by 10% as compared to 1.4 mn t in Q1FY’22.
Highlights:
- Production from Karnataka fell by 11% y-o-y in Q2FY’22 as the plants were not operational at full capacity due to scheduled maintenance while the same was down by 10% q-o-q due to reduction in ore handling because of the monsoon.
- There was no production from the Goa mines due to suspension of mining pursuant to the Supreme Court judgment dated 7 Feb’18, which directed all mining companies to stop operations in Goa with effect from 16 Mar’18.
- Total iron ore sales were recorded at 1.3 mn t in Q2FY’22, down 13% y-o-y against 1.5 mn t seen in Q2FY’21.
- On a quarterly basis, total iron ore sales dropped 19% as against 1.6 mn t in Q1FY’22. Major portion of the sales came from Karnataka mines at 1.2 mn t and the remaining 0.1 mn t from the Goa mines.
- The company’s pig iron production stood at 208,000 tonnes (t) in Q2FY’22, an increase of 12% y-o-y as compared to 186,000 t in Q2FY’21 as a result of the process improvement steps taken to increase the overall productivity.
- Total saleable steel production in Q2FY’22 was at 293,000 t, higher by 13% y-o-y as production in the year-ago period was hit by Covid-19 restrictions. In comparison to the Apr-Jun’21 quarter, total saleable steel output e same remained almost stable in Q2.
Vedanta’s iron ore production & sales performance
Source: Company reports
Quantity in mn t
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