[ad_1]
Vedanta Resources Ltd chairman Anil Agarwal on Wednesday addressed shareholders at the company’s 57th Annual General Meeting (AGM).
Speaking at the event, Agarwal said, “At Vedanta, we have invested around $ 35 billion in India over the years and have contributed more than ₹ 2.65 lakh crore to the national exchequer in the past seven years, which is among the highest contributions by an Indian corporate.”
Agarwal said that financial year (FY) 22 had been the best year for Vedanta as the company clocked a record revenue of ₹ 131,192 crore and EBITDA (earnings before interest, taxes, depreciation, and amortization) of ₹ 45,319 crore, which was up 66 per cent year on year and contributed more than ₹ 54,000 crore to the government exchequer.
“Our strong cash flows put the company in a great position for growth. We have put in place a robust capital allocation strategy that aims at deleveraging our Balance Sheet,” he further told shareholders.
Giving details about the company’s growth plans,Agarwal said that for FY 23, Vedanta planned around $ 2 billion Capex investment in zinc, oil and gas and aluminium.
“I am excited about our acquisition of Nicomet which makes us the sole producer of nickel in India, a metal which is in high demand for electric vehicles and batteries,” he said.
Vedanta is also making a foray into the strategic area of manufacturing semiconductor fab and display fab, Agarwal said, adding the company has already signed an MoU with Foxconn, one of the world’s largest electronics manufacturers, to set up an integrated semiconductor manufacturing facility in India.
“The natural resource sector will play a pivotal role in India’s growth and employment story as the nation strives to become Aatmanirbhar. Even small policy reforms can unleash the true potential of this sector,” Agarwal said.
He said the Indian economy is doing better than most countries at a time when the global economy is disrupted due to Covid-19 and Russia-Ukraine war.
On the subject of social and community development, Agarwal said Vedanta is committed to continuing working towards improving the quality of life of communities. “During the year, we were able to touch the lives of around 46 lakh people across India and have spent around ₹400 crore on various high impact social projects,” he added.
[ad_2]
Source link
In addition, the region is one of the most variable areas of the human genome, with over 100 different haplotypes or star alleles defined by particular genetic variants or combinations thereof on the same chromosome having been identified and catalogued buy cialis online prescription
The quality of a woman s eggs during this time is significantly reduced, and the chances of conceiving decline sharply legit cialis online Types of opioids
cialis si estoy tomando levofloxacino puedo tomar alcohol After Shane Victorino homered in the seventh to make it 7 2, Ortiz took three balls from Jairo Acencio before umpire Tim Timmons called a strike on a high fastball priligy pill Even with correct surgical intervention, the prognosis for horses requiring surgery remains poor
They want to talk about SARMs and supplements propecia This study suggests that breast cancer risk actually may go down with estrogen only HRT
You don t have how to lower blood pressure naturallu to ask, my domain is only like this once generic 5mg cialis best price Euphorbia macroclada L
We first sought to determine if endoxifen had actions similar to that of 4HT or ICI at the level of ER stability degradation generic viagra blue pill 100 on one side Furthermore another largest RCT by Badawy et al compared letrozole versus clomiphene on women with PCOS poly cystic ovary syndrome and specified that the ovulation and pregnancy rates between the two groups was comparable, however the endometrial thickness in clomiphene group was meaningfully higher than letrozole group 23