The Jharsuguda-I smelter operated above its rated capacity. Aluminium production was 21% higher in Q3 as compared with the corresponding prior period on account of full capacity utilization and higher operational efficiencies.
Q3 Aluminium CoP was stable in rupee terms due to better operational efficiencies, lower power consumption and lower coal cost despite increased cost of alumina. VAL achieved the best quarterly operational efficiency, and CoP remained in the lower half of the global cost curve.
Q3 EBITDA was significantly higher than the corresponding prior quarter, on account of higher production and higher metal premiums. EBITDA margin also improved due to higher conversion of primary metal into value added products. 46% of primary metal was converted to value added products in Q3 compared to 40% last year.
PAT during the quarter improved due to higher EBITDA and lower mark to market loss on foreign currency borrowings as compared to the corresponding prior quarter.
Status of Investment in Vedanta Aluminium Limited as at 31 December 2012
|Investment in VAL (Rs. Crore)||Sterlite||Vedanta||External||Total|
|Quasi Equity / Debt||8,140||853||18,210||27203|
|Q3||Q2||Nine months period|
|Particulars (in million units)||FY2013||FY2012||
% change YoY
% change YoY
|Total Power Sales||1,916||1,997||(4%)||2,474||6,848||5,412||27%|
|Balco 270MW Power Sales||275||382||(28%)||346||959||1,192||(20%)|
|HZL Wind Power||62||56||12%||188||432||256||69%|
|Financials (in Rs. crore except as stated)|
|Average Power CoP (Rs./unit)||2.29||2.47||(7%)||2.22||2.16||2.50||(14%)|
|Average Power Realization (Rs./unit)||3.35||3.44||(3%)||3.45||3.42||3.60||(5%)|
|SEL CoP (Rs./unit)||2.22||2.64||(16%)||2.31||2.23||2.78||(20%)|
|SEL realization (Rs./unit)||3.31||3.49||(5%)||3.42||3.43||3.70||(7%)|
|1.||Includes production under trial run of 456 million units in Q3 FY2013 vs. 428 million units in Q3 FY2012, and 795 million units in nine months period FY2013 vs. 717 million units in nine months period FY2012.|
|2.||Includes intercompany sale of Rs. 4 crore in nine months period FY2012.|