~vedanta - Bombay Stock Exchange provides 3600 information on Vedanta Limited, a subsidiary of...

download ~vedanta - Bombay Stock Exchange provides 3600 information on Vedanta Limited, a subsidiary of Vedanta

of 445

  • date post

  • Category


  • view

  • download


Embed Size (px)

Transcript of ~vedanta - Bombay Stock Exchange provides 3600 information on Vedanta Limited, a subsidiary of...

  • ~vedanta r - . I


    BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Fort Mumbai - 400 001

    Scrip Code: 500295

    Dear Sir(s),

    -nents July 12, 2019

    National Stock Exchange of India Limited "Exchange Plaza" Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051

    Scrip Code; VEDL

    Sub: Submission pursuant to the 54th Annual General Meetim: of the Company

    In continuation to our letter VEDL/Sec./SE/19-20/38 dated June 13, 2019, we wish to inform that the 54th Annual General Meeting ('AGM') of the Company was held on Thursday, July 11, 2019 and the business(es) mentioned in the Notice dated May 30, 2019 were transacted. The Company had also provided live webcast of proceedings of the meeting to its shareholders.

    In this regard, please find enclosed the following -

    1. Voting results as required under Regulation 44 of the Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations), as Annexure - I.

    2. Consolidated Report of Scrutinizer dated July 11, 2019, for remote e-voting and lnsta Poll (electronic voting at the AGM venue), pursuant to Section 108 and 109 respectively of the Companies Act, 2013 and Rule 20( 4)(xi) and Rule 21(2) respectively of the Companies (Management and Administration) Rules, 2014, as Annexure - II.

    3. Summary of proceedings as required under Regulation 30, Part-A of Schedule -Ill of the SEBI Listing Regulations, as Annexure - II/.

    4. The Chairman's speech read out and circulated to the Members during the AGM as Annexure - IV

    The meeting commenced at 10:30 a.m. and concluded at 2.20 p.m.

    The result along with the Scrutinizer's Report(s) is available at the registered and corporate office and website of the Company www.vedantalimited.com and on the website of Karvy Fintech Private Limited, Registrar & Transfer Agent of the Company www.karyy.com.

    Further, the copy of Annual Report of the Company for the financial year 2018-19 is enclosed and the same is also available on Company's website httl)s://www.yedantalimjted.com/Pai:es/Annua)Reports.aspx

    Thanking you, Yours Sincerely,

    F~ ta Limited

    ,i~Ha ya Company c etary & Compliance Officer

    CC: National Securities Depository Limited 4th Floor, A wing, Trade World, Kamala Mills Compound Senapati Bapat Marg, Lower Pare) Mumbai - 400 013


    Central Depository Services (India) Ltd. 25th Floor, Marathon Futurex, N M Joshi Marg, Lower Parel (East), Mumbai - 400013

    DLF Atria Phase 2 Jacaranda Marg DLF City curugram - 122002 Haryono. Ind10 T •91124 459 3000 F •91 124 414 5612 www vedantollm1ted com

    AECISTEAED OFFICE: Vedanta Limited. P Floor. C' w1nQ Unit 103. corporate Avenue Atul Projects. Chakala Andherl (East). Mumbo, - 400093 Maharashtra Indio T •91 22 6643 4500 F •91 22 6643 4530

    CIN Ll3209MH196SPLC291394


    We Are...


  • About the report

    Growing Responsibly

    ABOUT THE REPORT This is the second integrated report of Vedanta Limited (VEDL). Again, in keeping with our values, we remain committed to ensuring maximum and relevant disclosure of our material issues and strategic performance. In 2018, we were proactive in starting to report our performance and strategy using the International Integrated Reporting framework, as outlined by the International Integrated Reporting Council (IIRC).

    Our integrated reports are prepared to allow our capital providers to make an informed assessment of VEDL’s ability to create holistic value over the short, medium and long term. They strive to showcase our capacity to grow and our ability to deliver on established strategies that can drive significant financial and non-financial value for all stakeholders.

    SCOPE AND BOUNDARY This report covers the reporting period from 1 April 2018 to 31 March 2019 and provides 3600 information on Vedanta Limited, a subsidiary of Vedanta Resources Limited.

    It gives an overview of operations across our business units: Zinc-Lead-Silver, Oil & Gas, Aluminium, Power, Iron Ore, Steel and Copper. Our assets are spread across India, South Africa and Namibia, and across the value chain comprising exploration, asset development, extraction, processing and value accretion activities.

    The report aims to give a concise explanation of VEDL’s performance, strategy, operating model, business outputs and outcomes using a multi- capital approach. It includes measures of engagement with identified material stakeholder groups and outlines the organisation’s governance framework, together with its risk mitigation strategy.

    APPROACH TO MATERIALITY This report contains information that we believe is of interest to our stakeholders, and presents a discussion around matters that can impact our business. We consider an issue to be material if it can substantively affect the organisation’s ability to create value over the short, medium and long term.

    APPROACH TO STAKEHOLDER ENGAGEMENT Our stakeholders are those individuals or organisations who have an interest in, and whose actions impact our ability to execute our strategy. We periodically engage with different stakeholder groups and actively respond to their concerns and issues.

    ANNUAL ACCOUNTS This integrated report should be read in conjunction with the Annual Accounts (page 244-440) to gain a complete picture of VEDL’s financial performance. The consolidated and standalone financial statements in our printed report have been prepared in accordance with the Indian Accounting Standards (Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time) and have been independently audited by S.R.Batliboi & Co. LLP. The Independent Auditor’s Report for both consolidated and standalone financials can be found on page 244 and 334 respectively.

    BOARD AND MANAGEMENT ASSURANCE The Board of Directors and the Company’s management acknowledge their responsibility to ensure the integrity of this integrated report. They believe the report addresses all material issues and presents the integrated performance of VEDL and its impact in a fair and accurate manner. The report has therefore been authorised for release on 5 June, 2019.

    This report builds on the previous year’s theme of growth, but also emphasises our commitment to sustainability – to the ecosystems we rely on, to our business and to our stakeholders, including employees and contractors, customers, communities, suppliers and to our host countries. This focus is in keeping with the scale of our operations and the expectations our stakeholders have from the organisation. It seeks to highlight our commitment to the global movement of minimising ecological footprints, upholding human rights, and aligning business decision-making to the long-term societal needs.

  • STRATEGIC REPORT IFC About the report 4-5 Vedanta at a glance 6-7 Highlights 2018-19 8-9 Investment case 10-13 Chairman’s statement 14-17 CEO’s statement

    GROWING RESPONSIBLY 18-19 Aluminium 20-21 Electrosteel 22-23 Oil & Gas 24-25 Copper 26-27 Zinc

    OUR INTEGRATED APPROACH 28-29 Materiality matrix 30-31 Our six capitals and stakeholder value creation 32-33 Our value creation model 34-37 Strategic framework and focus areas 38-41 Key performance indicators 42-49 Opportunities and risks 50-53 Stakeholder engagement 54-55 Awards and accolades 56-59 Board of Directors 60-67 Executive Committee

    MANAGEMENT REVIEW 68-75 Market review 76-89 Sustainability and CSR 90-135 Management discussion and analysis

    STATUTORY REPORTS 136-149 Business responsibility report 150-205 Directors’ report 206-243 Report on corporate governance

    ANNUAL ACCOUNTS Standalone financials 244-253 Independent Auditor’s report 254 Balance sheet 255 Statement of profit and loss 256 Statement of cash flows 257 Statement of changes in equity 258-333 Notes forming part of the standalone financial


    Consolidated financials 334-341 Independent Auditor’s report 342 Balance sheet 343-344 Statement of profit and loss 345-346 Statement of cash flows 347-348 Statement of changes in equity 349-440 Notes forming part of the consolidated financial


    "Vedanta, with its strong and scalable assets, is well positioned being at the heart of the world's fastest growing economy. The diversified, well-invested and low-cost portfolio of the Company delivered industry-leading volume growth during the year."

    Navin Agarwal Chairman



  • Forward-looking statements Certain statements in this document constitute ‘forward-looking statements’ which involve known and unknown risks and opportunities, other uncertainties and important factors that could turn out to be materially different following the publication of actual results.

    These forward-looking statements speak only as of the date of this document. The Company undertakes no obligation to update publicly, or release any revisions, to these forward-looking statements, to reflect events or circumstances after the date of this document, or to reflect the occurrence of anticipated events.

    We Are... Vedanta Limited, a globally diversified natural r