Vedanta Power 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 Power Ltd trades at ₹31.2, in a downtrend and 14 weeks into that stage. That is −20.1% against its own 200-day average. It sits at 0% of a 52-week range of ₹31 to ₹46. On relative strength it has no relative-strength read yet.

Today the stock is in a downtrend — week 14 of stage 4, confirmed. At ₹31.2 it trades −20.1% versus its 200-day average and sits at 0% of its 52-week range (₹31–₹46).

Against the market, two honest reads. Cumulative: over the last 2 months the stock moved −32% 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 Power Ltd trades at 19.8× P/E, against too little history to rank. Its long-run median P/E is 17.8×, measured across 0.1 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 19.8× is against too little history to rank, against a long-run median of 17.8× measured over 0.1 years of weekly readings. 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. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Vedanta Power 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.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

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 Power Ltd reported ₹2,607 Cr of revenue in the Jun 26 quarter, +31.3% year on year. Over 1 years it has compounded at 67.9% a year. The last full year, FY26, came in at ₹8,799 Cr. The last four reported quarters add to ₹8,689 Cr.

FY26 revenue came in at ₹8,799 Cr (+67.9% on the year), capping 1 years at 67.9% compound. The latest quarter (Jun 26) printed ₹2,607 Cr, +31.3% year on year.

Pace check: the last four quarters averaged +36.0% growth against the decade's 67.9% — the current year is running slower than its own long-run rate.

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 Power Ltd's operating margin is 11.0% in the Jun 26 quarter, −10.0 percentage points against the same quarter a year ago.

The latest quarter's operating margin is 11.0%, −10.0 pp against the same quarter a year ago. Across 2 fiscal years the operating margin has ranged 18.0%–20.0%.

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 Power Ltd posted a net loss of ₹423 Cr in the Jun 26 quarter. The full FY26 year was a loss of ₹1,686 Cr. That loss is 16.2% of the quarter's revenue.

Jun 26 profit was ₹−423 Cr, −580.7% year on year. On the full year, FY26 printed ₹−1,686 Cr (−5,368.8%).

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 Power Ltd's cash-flow history is too thin to judge how much reported profit converts into cash. In FY26 that was ₹556 Cr of operating cash against ₹−1,686 Cr of profit. After ₹449 Cr of capital spending, ₹107 Cr was left as free cash. Cash resolution here is annual, because quarterly cash statements are not published.

FY26: operating cash of ₹556 Cr against reported profit of ₹−1,686 Cr, leaving free cash of ₹107 Cr after ₹449 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: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

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 Power Ltd's cash conversion cycle runs 66 days in FY26, down from 67 days in FY25. Capital spending ran ₹449 Cr over the last 1 years. At FY26 sales of ₹8,799 Cr each day of that cycle holds about ₹24.1 Cr, so roughly ₹1,591 Cr sits inside the business at any moment.

FY26: debtors at 66 days (an asset-light business — no inventory to speak of) — for a full cycle of 66 days, tighter than FY25's 67.

In money terms: at FY26 sales of ₹8,799 Cr, each day of the cycle holds about ₹24.1 Cr — so the 66-day loop keeps roughly ₹1,591 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹449 Cr over the last 1 fiscal years against ₹829 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: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

Vedanta Power Ltd earns a ROCE of 7% in FY26. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is −19.2% net margin on 0.95× asset turns.

FY26 ROCE is 7%.

Why the return is what it is — the wiring (FY26): −19.2% net margin × 0.95× asset turns × 4.77× balance-sheet leverage ≈ −87.0% on equity. Margin does its share; leverage is a meaningful part of the equation.

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

Vedanta Power Ltd carries total debt of ₹7,466 Cr against shareholder equity of ₹3,213 Cr as of Mar 21, a debt-to-equity of 2.32. On the annual view that ratio went from 3.31 in FY18 to 2.32 in FY21. Read the returns elsewhere on this page with that leverage in mind.

Mar 21: total debt of ₹7,466 Cr against shareholder equity of ₹3,213 Cr — a debt-to-equity of 2.32. On the annual view, debt-to-equity went from 3.31 (FY18) to 2.32 (FY21). Read the returns on this page with that leverage in mind.

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 Power 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 Power 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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