Vedanta to invest $1.7bn in FY23
Lists partners for semicon venture; It made $35 bn investment till date
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New Delhi Vedanta Ltd has invested $35 billion in India so far and the company will continue to make sizeable investments across business verticals in the coming years, its Chairman Anil Agarwal said on Wednesday.
Vedanta plans to invest $1.7 billion (Rs14,000 crore) in the current financial year to expand the capacities of its various business operations, Agarwal had. His company had invested $1.2 billion in the form of growth capex in FY23 to augment its assets and production.
“We are committed to make sizable investments across business verticals in the coming years,” he said addressing shareholders at the company’s 58th Annual General Meeting (AGM) on Wednesday. Till date, Vedanta has invested over $35 Billion (Rs 2.9 lakh crore) in India, contributing to more than 1.4 per cent of the country’s GDP, Agarwal said.
The company’s contribution to the government exchequer is approximately Rs 3 lakh crore over the past seven years, with Rs74,000 crore contributed in FY23 alone, he added. In FY23, Vedanta’s revenue stood at Rs1,45,404 crore, with an EBITDA of Rs 35,241 crore, Agarwal told the shareholders.
“We made the highest ever production of aluminium, zinc, and steel. Continuing with our consistent track record, your company declared a total dividend of Rs101.5 per share in FY23. This year, we have already declared a dividend of Rs18.5 per share,” he said.
