Vedanta Ltd recently announced its operational results for FY’21. Total iron ore output by the miner in the last fiscal was recorded at 5 million tonnes (mn t), up 15% compared to 4.4 mn t in FY’20. The entire output came from the Karnataka mines. On a quarterly basis, total output witnessed a significant rise to 1.2 mn t as compared to 0.8 mn t in Q4FY’20.
There was no production from the Goa mines due to suspension of mining pursuant to the Supreme Court judgement dated 07 Feb’18, which directed all mining companies to stop operations in Goa with effect from 16 Mar’18.
The total iron ore sales for the fiscal were recorded at 6.5 mn t, slightly down as against 6.6 mn t in FY’20. On a quarterly basis, total sales were recorded at 2.2 mn t in Q4 FY’21 against 2.3 mn t in Q4 FY’20.
Key highlights
- The company’s pig iron production stood at 596,000 tonnes (t) in the last fiscal, decreasing by 12% year-on-year (y-o-y) as compared to 681,000 t in FY’20.
- Steel production from Electrosteel Steels was recorded at 1.19 mn t in FY’21, down 4% y-o-y due to lockdown.
- Electrosteel aims at doubling its hot-metal production capacity from 1.5 mn t to 3 mn t per year. In addition, the installation of a new 2.2 mn t pellet plant will save production costs.
Source: Company reports
Quantity in mn t
Outlook for FY’22
The company aims to produce over 5 mn t of iron ore from its Karnataka mines and estimates production of 850,000-900,000 t of pig iron in FY’22.
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