Vedanta Aluminium Metal Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Vedanta Aluminium Metal Ltd trades at ₹417, in a downtrend and 14 weeks into that stage. That is −11.6% against its own 200-day average. It sits at 0% of a 52-week range of ₹417 to ₹470. On relative strength it has no relative-strength read yet.

Today the stock is in a downtrend — week 14 of stage 4, confirmed. At ₹417 it trades −11.6% versus its 200-day average and sits at 0% of its 52-week range (₹417–₹470).

Against the market, two honest reads. Cumulative: over the last 2 months the stock moved −10% while the NIFTY 500 moved −2% — behind the index over the full window. Recent form: no trailing-13-week read yet — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Vedanta Aluminium Metal Ltd trades at 10.3× P/E, against too little history to rank. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 10.3× is against too little history to rank. This is a comparison against the stock's own history — not a claim about what it is worth.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read.

Vedanta Aluminium Metal Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Vedanta Aluminium Metal Ltd reported ₹21,393 Cr of revenue in the Jun 26 quarter, +46.0% year on year. The last full year, FY26, came in at ₹66,891 Cr. A multi-year compound rate is not shown because the annual history behind it is too short to compute one honestly.

FY26 revenue came in at ₹66,891 Cr (null on the year). The latest quarter (Jun 26) printed ₹21,393 Cr, +46.0% year on year.

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Vedanta Aluminium Metal Ltd's operating margin is 48.0% in the Jun 26 quarter, +18.0 percentage points against the same quarter a year ago.

The latest quarter's operating margin is 48.0%, +18.0 pp against the same quarter a year ago. Across 1 fiscal years the operating margin has ranged 38.0%–38.0%.

Why: the numbers show the operating margin move clearly, but the cost lines behind it sit below what we hold — so we state the move without inventing its driver.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Vedanta Aluminium Metal Ltd earned ₹6,597 Cr of net profit in the Jun 26 quarter, +205.1% year on year. Full-year FY26 profit was ₹14,153 Cr. That is 30.8% of the quarter's revenue.

Jun 26 profit was ₹6,597 Cr, +205.1% year on year. On the full year, FY26 printed ₹14,153 Cr (null).

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Vedanta Aluminium Metal Ltd's cash-flow history is too thin to judge how much reported profit converts into cash. In FY26 that was ₹−0.0 Cr of operating cash against ₹14,153 Cr of profit. After ₹2,890 Cr of capital spending, ₹−2,890 Cr was left as free cash. Cash resolution here is annual, because quarterly cash statements are not published.

FY26: operating cash of ₹−0.0 Cr against reported profit of ₹14,153 Cr, leaving free cash of ₹−2,890 Cr after ₹2,890 Cr of capital spending.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Router verdict: the visible cash user is investment — the next section checks what the spending is buying.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Vedanta Aluminium Metal Ltd does not report the debtor, inventory and payable day-counts a cash cycle is built from, so this section reads the investment side instead. Capital spending ran ₹2,890 Cr over the last 1 years. Averaged over those years that is 4.3% of FY26 revenue a year.

Working-capital day-counts are not in our numbers for this stock, so this section reads the investment side — where the cash is being put to work.

On the investment side: capital spending of ₹2,890 Cr over the last 1 fiscal years against ₹2,890 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

Returns on capital ROE is the profit the business earns on the money invested in it — the single best test of whether growth creates value or just size.

An annual ROE ladder is not held for Vedanta Aluminium Metal Ltd.

We do not hold an annual ROE series for Vedanta Aluminium Metal Ltd. Its filings carry the return lines we would need as blanks rather than numbers, so this page does not estimate one. The revenue, margin, cash-flow and ownership sections are the reads we stand behind.

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Vedanta Aluminium Metal Ltd's net worth is negative — it owes more than it owns — so a debt-to-equity ratio is not meaningful here. Operating profit covers the interest bill 6×. Over 1 years borrowings went from ₹0.0 Cr to ₹0.1 Cr. Capital spending ran ₹2,890 Cr across the last 1 of those years.

FY26: borrowings of ₹0.1 Cr against equity of ₹−0.1 Cr — net worth is NEGATIVE: the company owes more than it owns, so a debt-to-equity ratio is not meaningful (it just goes negative). This is a balance sheet under water. Operating profit covers the interest bill 6×. Over 1 years borrowings went from ₹0.0 Cr to ₹0.1 Cr while capital spending ran ₹2,890 Cr in just the last 1 — part of the build-out is riding on borrowed money.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

No holder of Vedanta Aluminium Metal Ltd moved a full percentage point over the last two years — the register is quiet. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — .

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Vedanta Aluminium Metal Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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