Vedanta demerger: These will be 4 new listed entities - Company names, profile

Vedanta Ltd has set May 1 as the record date for its demerger. This follows the National Company Law Tribunal’s approval of the scheme on December 16, 2025, with the Anil Agarwal-led company receiving a certified copy of the order on January 31 and now moving toward implementation. Following the NCLT order, demerger accounting under Indian accounting standards, Ind AS 105, was incorporated in the December quarter results. The earnings separately presented the aluminium, oil and gas, and iron and steel businesses in summary one-line form.

Vedanta demerger: Analyst view

This is a positive development for Vedanta , as the demerger represents a value unlocking event, said ICICIdirect said.

"The high growth Aluminium and Power businesses are expected to command better valuations compared to the current company structure. We remain highly positive on Vedanta’s aluminium business, as it is expected to be the key driver of revenue and margins for the group," ICICIdirect said.

Vedanta group’s primary business verticals, aluminium, oil and gas, and iron and steel will be demerged into separate, standalone listed entities, with remaining businesses being part of the residual entity, Vedanta Ltd. The order for the demerger of the Vedanta group’s power vertical was received on January 9.

The name of four proposed new listing companies are Vedanta Aluminium Metal Limited (VAML), Vedanta Power ( Talwandi Sabo Power to be renamed), Vedanta Oil & Gas (Malco Energy Limited to be renamed) and Vedanta Iron and Steel Limited.   

Vedanta Aluminium Metal Limited  As per Vedanta, Vedanta Aluminium Metal is one of the world’s leading producers of aluminium. It is India’s largest aluminium producer, with operations in the states of Odisha and Chhattisgarh. It caters to  catering to customers in over 60 countries. In FY25, it produced more than half of India’s aluminium at 2.42 million tonnes. 

Vedanta Power Limited

In its annual report for FY25, Vedanta said Talwandi Sabo Power Limited (TSPL) operated under long-term power purchase agreement (PPA) with Punjab State Electricity Board (PSEB), under which the revenue is primarly linked with plant availability, ensuring stable returns. Power sales for FY25 stood at 12,822 million units, down 5 per cent, due to plant-specific operational constraints.

Vedanta Oil & Gas Limited At present known as Malco Energy, it is a 100 per cent subsidiary of Vedanta. MALCO entered the met coke business after acquiring the assets of Bhachau and Khambhalia (both in Gujarat) blocks of GNCL under IBC on May 20, 2021. Similarly, it acquired the nickel assets of Nicomet Industries Ltd which was in the liquidation process under IBC on January 6, 2022. While the commercial operations of met coke started in fiscal 2022, the commercial operations for nickel started in the first quarter of fiscal 2023.

Vedanta Iron and Steel Limited Comprising subsidiaries such as ESL Steel Limited, Sesa Resources Limited, Sesa Mining Corporation Limited in India and Bloom Foundation in Liberia, Vedanta Iron and Steel is a ferrous resources company. The Company’s produces 1.5 Million tonnes of steel per year (MTPA) at its greenfield integrated steel plant at Bokaro which was established in 2006 and produces pig iron, billets, TMT bars, wire rods, and ductile iron pipes.

As per December quarter results, Vedanta filed aluminium segment numbers under discontinued businesses, with revenue at Rs 4,709 crore for the nine months ended December 31. Oil & gas segment revenue stood at Rs 699.90 crore and Iron Ore at Rs 473.50 crore.