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VED Vedanta

832.60
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Vedanta LSE:VED London Ordinary Share GB0033277061 ORD USD0.10
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 832.60 834.80 835.80 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Vedanta Share Discussion Threads

Showing 8751 to 8774 of 10375 messages
Chat Pages: Latest  355  354  353  352  351  350  349  348  347  346  345  344  Older
DateSubjectAuthorDiscuss
27/5/2017
17:00
Seen a dampening of sentiment in China: Vedanta Resources CEO

Wednesday, 24 May 2017 | 2:04 AM ET

Vedanta Resources CEO Tom Albanese speaks about earnings and the business environment in China.

smurfy2001
27/5/2017
11:16
if the chart breaks 700p will fly in my opinion
temmujin
27/5/2017
09:54
Vedanta plans to raise up to Rs 350 crore via NCDs (Further debt that's why I quit yesterday)
gotnorolex
26/5/2017
17:02
It's a concern which needs to be highlighted to investors who are not fully aware of the issue and risks.

The Agarwhals run this like a family concern so they are not interested in my opinion, nor anyone else's for that matter.

the original goldbug
26/5/2017
16:46
I don't disagree you should raise your concern with the company like a Barclays analyst did which l posted previously.
smurfy2001
26/5/2017
15:57
I am invested Smurfy, but it's very high beta (volatile) due to the BS issues.

It's best to be aware of all the risks so you can size your position accordingly, is it not?

the original goldbug
26/5/2017
15:00
The Original Goldbug,

So is this something you wouldn't invest in then?
I got more confidence to hold given the re-introduction of the dividend. Why would they pay out if they wasn't comfortable with their debt. It was a surprise they re-introduced the cut dividend mind you.

smurfy2001
26/5/2017
09:51
I can agree with your conclusion; but there is still quite a degree of risk attached to Vedanta equity.

The way the debt and cash is held is also very complex and is not really a simple case of being able to net one against the other. For that reasons institutional investors remain circumspect on Vedanta. I would like to see net debt, given their conflated balance sheet at nearer 1.6x-1.8x and I still think we are 30 months or so away from that.

the original goldbug
26/5/2017
09:31
Always happy to be told off! That's the point of these message boards -even if the figures are awry I still feel this is very undervalued!
salver2
26/5/2017
09:12
Yes, there is a lot of garbage out there. That's why people do their own research.

Don't confuse PE's and yields, though while superficially attractive, don't change the dynamic of the debt elephant in the room.

I'm sorry if I appear to be beating up on you Salver, but honestly, you are doing a disservice endlessly quoting incorrect numbers, even when I have linked company sourced information to you in the past.

the original goldbug
26/5/2017
09:05
So all the websites must be wrong!! Even so a pe of around 6 seems rather low - and a 6 percent plus yield as well!
salver2
26/5/2017
08:54
So now we are inventing next years numbers to justify our remarks of a few weeks ago that current net debt was approx 1x net EBITDA! (Currently stands at 2.8x)

Sadly, as much as I would like to buy into your optimism, those numbers you quote for next year are still pie in the sky. It's actually mathematically impossible to get the net debt down by 3.5bn given net free cash flows and capex programme.

Granted EBITDA could creep to nearer 4bn if Zinc holds up and the Aluminium production is as forecast, especially given the aluminium capex is already sunk.

There is lots to be cautiously optimistic about, though still, its best not to deliberately mislead people by continually quoting inaccurate numbers.

the original goldbug
26/5/2017
08:14
Latest broker forecasts for end of this year 2018 - check 4 traders website- ebitda approx 4.4 billion dollars debt 5.1 billiobillion - net debt to ebitda 1.16 -still looking in the rear view mirror?
salver2
26/5/2017
05:57
What's happened to debt expert Salver who maintains that EBITDA to net debt is 1x!?
the original goldbug
25/5/2017
14:47
Vedanta to ramp up production to capitalise on strong LME prices
India Infoline News Service | Mumbai | May 25, 2017 18:10 IST
Enthused by strong London Metal Exchange (LME) prices and decreasing cost of alumina, mining giant Vedanta plans to boost up its aluminium output .

gotnorolex
25/5/2017
06:58
More here.
smurfy2001
25/5/2017
06:23
Q - Ian Rossouw
It's Ian Rossouw from Barclays. Just a question on the dividend, which you increased by 83% year-on-year. Maybe just give a bit more context around your thinking with pro forma debt of 9.1 billion, which implies the net debt-to-EBITDA of almost 3 times. I mean, in this volatile commodity price environment, do you not think it would be more prudent to rather focus on deleveraging given your CapEx is going up over the next two years and the $5.2 billion of debt maturities in the next two years?
Thomas Albanese
I might just start, and ask Arun to follow up on that, look, I think with the success we've had both delevering Vedanta Limited, the special dividend we had from Limited up to plc, and I think the good success we've seen in the bond markets with [indiscernible] of activities, it's allowed us really to do both; it's allowed us to provide our shareholders and the capital markets with increased confidence that we can actually continue to manage the delevering, bring those overall debt balances down, continue to basically manage the maturities to longer, especially longer and longer periods and continue with our, really, a 14 year journey of improving shareholder returns. So we recognize that that's important for the shareholders. So meeting the needs of the shareholders and again the expectations of the capital markets, I think, would be part of the priorities considered by the board when that was taken up.

Ian Rossouw
But do you not see -- sorry, just maybe to add, do you not see 3 times as too high in terms of net debt-to-EBITDA?
Arun Kumar
I think Tom articulated well, if I just focus on the second half of your observation. If you really look at it, the strength comes from the operating subsidiary, right? If you see the net debt-to-EBITDA ratio is just 0.4 of debt, indicating enough liquidity there. Coming on a strength of a ramp-up that is continuing into FY '18, and you already saw in the second half of this year, FY '17, we produced $1.3 billion of cash flow, the first half was $200 million, approximately. And all of it is flowing from the operations without any working capital initiatives, sort of minimum compared to the previous year. So all that augurs well for a strong operating subsidiary, generating enough volume and liquidity, giving us all the optionalities that Tom laid out, that you can allocate capital towards delevering, returning back to your shareholders and self funding your CapEx. And that probably addresses your second half of the observations.

Bharat Shettigar
A couple of questions related to the holdco's debt. Now if I see the holdco debt has gone up from about 6.14 billion in September to 6.63 billion as of March, it's a bit surprising. Can you throw some light on why did you raise that debt? And what's the maturity profile of that debt?
And second question is more from a longer-term point of view. What do you think is the sustainable debt level at the holdco? Because the way I see it is, $6 billion kind of debt at the holdco, the interest expense on that, plus the dividends that the holdco pays will be very tough to service purely through dividends from Vedanta Limited. So any color on that will be helpful.
Thomas Albanese
Arun?
Arun Kumar
So I think if you really look at it, the holdco debt has actually gone down to below $6 billion. As we articulated post year-end, we have delevered further by taking out our FY '18 bond maturities. So the current level, if I draw attention to Page 21, is approximately $5.7 billion, right? And I think the fundamental big picture here is to look at the group as a whole, right? Holdco is holding a very, very strong operating asset, right? And the operating asset post its CapEx requirements, which will be completely self funded, has the potential to generate a couple of billion dollars of cash, without any further new capital investments, based on the CapEx that's already been invested. So that's the key vertical. And if I may add, Tom pointed out earlier that the entire Zinc CapEx is again self funded. Oil CapEx comes from its own cash flows of that segment within Vedanta Limited. And with Aluminum achieving its full potential during the year, there is enough cash flow and profitability at the operating subsidiaries to sustain the $5.5 billion debt level at the holdco, which we don't see as an issue going forward.
Bharat Shettigar
So there is no plan to further de-lever the holdco in the next 1 to 2 years?
Arun Kumar
As I said, we don't give specific guidance on what we delever at which point of time, save and except the fact that our priority continues to delever both at plc and at Vedanta Limited. So we will -- we can expect to see more of it, but no specific guidance at this point of time.

smurfy2001
24/5/2017
21:41
UT trades mean nothing at all, merely a volume figure accounting/matching buys and sells during the day. A totting up! The higher the figure, better the liquidity.
gotnorolex
24/5/2017
15:53
16:29 b 2000 VED @ 6.219357
16:23 b 2000 VED @ 6.223200
16:19 b 2000 VED @ 6.224994

close ut 620.50-15.00 hi 640.00 lo 619.00

i didn't like the large UT trade at the end.. i guess there is always some that sell on the news.

i took a chance being completely out before the results. fingers crossed no big drop at the open tomorrow. will be adding if it gets near recent lows c.595(ish).

technowiz
24/5/2017
11:40
Wednesday’s results showed an increase in net debt of $1.2bn in the year to March to $8.5bn because of dividends paid to dividends paid to minorities. Vedanta has been trying to deleverage its balance sheet and lower its ration of net debt to underlying earnings to less than three.

It is India’s biggest producer of industrial metals and it operations also extend to oil and power.

One of its most important projects is the Gamsberg mine in South Africa, one of the world’s largest undeveloped zinc deposits. The price of Zinc, which is used to galvanise steel, has been boosted by mine closures as well as solid demand in China.

Vedanta said the mine was set to start production in the middle of next year.

smurfy2001
24/5/2017
11:39
Vedanta Resources FY core profit rises less than expected

The company said earnings before interest, tax, depreciation
and amortisation rose to $3.19 billion for the year ended March
31, missing analysts' average estimate of $3.25 billion.

smurfy2001
24/5/2017
11:20
Cracking dividend!! I'm going to place an order to buy back shares to add back to my free holding as these are much cheaper than what l sold at.

---

Vedanta Resources plc ("Vedanta") announced a final dividend of US 35 cents per Ordinary Share on 24 May 2017 in respect of the twelve months ended 31 March 2017. The dividend will be paid out in US dollars on 23 August 2017 to those shareholders on the Register of Members on 21 July 2017.

Shareholders may elect to receive the final dividend in UK pounds sterling if they wish.The Board has determined that the exchange rate to be applied to convert the dividend into UK pounds will be GBP0.769 per US dollar, equating to a dividend of 26.92 pence per Ordinary Share. This exchange rate is based on the average exchange rate for the five business days prior to the announcement of the Company's final results on 24 May 2017.

smurfy2001
24/5/2017
10:49
Good news factored in to some extent pre-results
tsmith2
24/5/2017
07:14
Needed to be a British bank and it would have flew
linton5
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