Vedanta Resources records $4.6 bn EBIDTA, $2.8 bn free cash flow in FY23
Vedanta Resources Ltd (Vedanta) on Thursday said it generated an EBITDA of USD 4.6 billion and a pre-capex free cash flow of USD 2.8 billion during financial year 2022-23. While the EBITDA (earnings before interest, taxes, depreciation and amortization) in FY23 was its second highest, the pre-capex cash flow was its all-time high, the company said in a statement. "Vedanta has generated EBITDA of USD 4.6 billion in FY23 and free cash flow pre-capex of USD 2.8 billion. It was accompanied by a significant improvement in its balance sheet position, with Vedanta gross debt falling from USD 9.8 billion to USD 7.8 billion in the twelve months to March 2023, with further continued deleveraging thereafter to a position of USD 6.4 billion as at end May 2023, as previously announced," it said. The company said it expects further improvement in its capital structure, based on the robust EBITDA and free cash flow estimates for FY24. As part of company's ongoing balance sheet management, all...08-06-2023
