Vedanta – Q1 FY26 Analysis
August 5, 2028 – Vedanta Ltd (VEDL) reported a record Q1 adjusted EBITDA of ₹10,746 crore ($1.3b) on revenues of ₹37,434 crore ($4.4b). This headline performance belies the company’s deep structural weaknesses. Beneath the veneer of profitability lies a balance sheet under stress, with unsustainable