The estimates have been given by Nuvama Institutional Equities, Kotak Institutional Equities and PhillipCapital.
While Nuvama has estimated the highest adjusted PAT figure for Vedanta, it sees a 30.8% fall in its net profit growth. Meanwhile, Kotak and Phillip see PAT growth by up to 242% on a year-on-year basis.
The highest estimate of revenue is from Kotak at Rs 38,674 crore, which expects over 15% rise on the YoY basis.
The company will announce its earnings on Tuesday, August 6.
Here’s what brokerages estimated:
Nuvama
Nuvam has estimated an adjusted PAT of Rs 3,060 crore for the April-June quarter, which in its view could decline by 30.8% on the YoY basis while rising by 94.7% on the QoQ basis. The sales in the reporting quarter is expected to be around Rs 35,440 crore, up by 5.1% YoY and down 0.2% QoQ.This brokerage has pegged Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) at Rs 10,200 crore, which may go up by 58.9% YoY and 16.4% on the QoQ basis.Nuvama has attributed a 16% QoQ uptick in Vedanta’s Q1 EBITDA owing to a rise in zinc and aluminium prices (up 15% QoQ) partially offset by lower volume across oil & gas, zinc and aluminium (down 1–4% QoQ).
It expects Zinc International’s EBITDA to improve from a low base (up 129% QoQ) because of higher prices and volume. Iron ore EBITDA is expected to decline on the back of reduced volumes, as there was a temporary suspension of mine production in Karnataka during May 2024, a preview note said.
Kotak Equities
Kotak’s estimates of the company’s adjusted PAT stands at Rs 2,945 crore which may go up by 242.5% on a YoY basis while appreciating by 87.8% on the QoQ basis. Net sales for the Anil Agrawal company is estimated at Rs 38,674 crore which may go up by 14.6% on the YoY basis and 8.9% on the QoQ basis.
EBITDA is seen at Rs 10,071 crore, higher by 56.9% on the YoY basis and 14.9% on the QoQ basis. Meanwhile, EBIT may go higher on a YoY and sequential basis to Rs 7,328.2 crore. It will be up by 89.4% YoY and 21.6% on the QoQ basis.
“We forecast a 15% QoQ increase in EBITDA (+57% YoY) due to higher commodity prices across major segments, particularly in zinc and aluminium,” Kotak’s brokerage note said.
It forecasts aluminium EBITDA to increase QoQ by 46% (+140% YoY) primarily led by higher LME prices while the oil & gas division is expected to witness an EBITDA decline of 26% QoQ on lower volumes and higher costs.
Zinc India division is expected to see a 9.7% QoQ increase in EBITDA on the back of higher zinc prices, partially offset by lower volumes.
PhillipCapital
Company’s PAT is estimated at Rs 2,197 which may go up by 66% YoY and 45% on the QoQ basis. Meanwhile, revenue is seen at Rs 36,069 crore, which is a 7% YoY rise while a 2% QoQ growth.
EBITDA could be reported at Rs 9,493 crore, which is a 48% YoY growth while 8% sequential. As for EBITDA margin, this metric is expected at 26.3% up from 19% YoY and 24.7% QoQ.
This brokerage notes Zinc International, Iron ore and Copper segment volumes to rise QoQ. Aluminium reported decline in volumes sequentially while LME aluminium, zinc and lead have improved 14%, 16% and 6% respectively. Crude is higher 4% QoQ while overall margins improve QoQ.
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