Vedanta Oil and Gas Reports Financials as Operations Are Classified Under Disposal Group Held for Sale

Vedanta Oil and Gas Reports Financials as Operations Are Classified Under Disposal Group Held for Sale​

Vedanta Oil and Gas Limited (VOGL), formerly Malco Energy Limited, has released its audited financial statements for the fiscal year ended March 31, 2026. The results reflect a complex ongoing corporate restructuring process, with the company’s existing business undertakings classified as part of a disposal group held for sale.

The Board of Directors confirmed that the company continues to operate in the ordinary course of its existing businesses, pending the effectiveness of the approved Scheme of Arrangement involving the simultaneous vesting of Vedanta Limited's Oil and Gas undertaking into VOGL, expected on May 1, 2026. The Company’s financial statements have been prepared on a going concern basis, supported by commitment from the Holding Company.

Financial Performance Summary​

The results for the year ended March 31, 2026, showed significant changes across key financial metrics compared to the previous fiscal year (FY 2025). Due to the divestment of its business units—including Nickel, GNRE Coke, and Power—the company’s operational performance was reported solely within the scope of discontinued operations.

The consolidated statement of profit and loss for FY 2026 reflected a total loss of Rs 190.51 Crores from discontinued operations (after tax), compared to a total loss of Rs 186.15 Crores in the previous fiscal year.

Balance Sheet Snapshot​

As at March 31, 2026, the company reported total assets of Rs 578.39 Crores, down from Rs 928.05 Crores as of March 31, 2025. The statement of financial position showed a decrease in equity, with total equity standing at (Rs 474.19) Crores, compared to (Rs 284.83) Crores in the prior year.

Total liabilities were reported at Rs 1,052.58 Crores, down from Rs 1,208.21 Crores for FY 2025. The company recorded net current liabilities of Rs 878.85 Crores.

Key Financial Indicators (in Rs. Crores)​

The following table summarizes the material financial positions as at March 31, 2026:

Operational Segments Overview​

The financial statements provide segmented information for the operating units: Coke, Discontinued Nickel operations, and Power. Revenue from operations across all segments was Rs 353.83 Crores in FY 2026 (down from Rs 876.60 Crores), with revenue derived primarily from the Coke segment (Rs 100.52 Crores) and Discontinued Nickel operations (Rs 253.31 Crores).

The company's operational expenses totaled Rs 468.25 Crores in FY 2026, including costs of materials consumed (Rs 185.67 Crores), purchases of stock-in-trade (Rs 105.51 Crores), and finance costs (Rs 56.62 Crores).

Financial Risk Management​

The company’s financial risk management policies cover liquidity, currency, interest rate, and counterparty credit risk. The balance sheet data indicates that the company has maintained a strong commitments framework, with unsecured short-term borrowings from related parties totaling Rs 548.58 Crores, which are repayable on demand.

The management confirmed that the company’s financial instruments exposure is concentrated towards its holding company, Vedanta Limited, given the substantial portion of total borrowings and payables originating from this relationship. The company continues to monitor capital using the gearing ratio, calculating it at (0.16).

VOGL Stock Price Movement​

Shares of Vedanta Oil and Gas Limited settled lower today, shedding 4.99% to close at ₹34.30. The stock plummeted during trading, hitting a 52-week low as over 26 million shares were traded in the session.