Advertisement
Tuesday, Nov 29, 2022
Outlook.com
Outlook.com

Ind-Ra Revises Vedanta's Outlook To Positive From Stable

Ratings and Research (Ind-Ra) has revised Vedanta's outlook to positive from stable.

Ind-Ra Revises Vedanta's Outlook To Positive From Stable
Ind-Ra Revises Vedanta's Outlook To Positive From Stable
outlookindia.com
2021-12-25T14:02:43+05:30

New Delhi, Dec 24 (PTI) Vedanta on Friday said India Ratings and Research (Ind-Ra) has revised the company's outlook to positive from stable.

Besides, the long-term issuer rating has been affirmed at 'IND AA-'.

The outlook revision reflects a likely improvement in the operational cash flow for FY22 and FY23 because of a significant increase in the operating profitability, led by enhanced volume performance, cost improvements across segments and a sharp recovery in metal prices, according to Ind-Ra.

"As such, the deployment of surplus cash to address structural subordination is unlikely to result in a material increase in the gross debt...leading to an improvement in the overall net financial leverage (net debt/EBITDA).

"Also, there is a favourable change in VDL's (Vedanta Ltd) group structure, led by VRL's (Vedanta Resources Ltd) increased stake of 69.7 per cent in VDL as of November 2021 from 50.1 per cent in November 2020," said Ind-Ra, which revised the outlook on Thursday.

The change in the group structure will reduce the dividend cash leakages and improve the financial flexibility of the group. PTI SID  SID ANU

 

 

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.

Advertisement