Vedanta Power Reports Record Q2 FY27 Performance with 122% EBITDA Growth to INR 421 Crore

Vedanta Power Limited has reported its highest-ever quarterly performance for the second quarter of FY27, supported by improved operational efficiency, higher power generation, and successful turnarounds across its thermal power assets. For the quarter ended September 30, 2026, the company recorded significant growth in revenue, profitability, and power sales, marking a major improvement in its financial performance.

The company reported revenue of INR 2,908 crore during Q2 FY27, registering a 38% increase compared to INR 2,108 crore in the corresponding quarter of the previous financial year. EBITDA rose 122% year-on-year to INR 421 crore, while growing 45% sequentially compared to the previous quarter. The improvement was supported by higher generation volumes, better realisations, and disciplined cost management.

Vedanta Power also reported a significant turnaround in profitability, achieving its first-ever positive earnings per share (EPS) of INR 0.21. Profit After Tax (PAT) before exceptional items increased 171% year-on-year to INR 101 crore, compared with a loss of INR 142 crore in Q2 FY26. Total power sales rose 26% to 5,593 million units (MUs), while Net Sales Realisation (NSR) improved to INR 5.20 per kWh.

For the first half of FY27, the company recorded cumulative revenue of INR 5,515 crore and EBITDA of INR 712 crore. The performance reflected improved plant availability and higher utilisation across its power generation facilities.

Operational improvements at key business units contributed significantly to the quarterly results. Meenakshi Energy Limited (MEL), following the complete restoration of its 1,000 MW capacity, increased power sales by 111% year-on-year to 1,470 MUs. The facility generated quarterly EBITDA of INR 101 crore.

At the Jharsuguda Independent Power Plant (JIPP), plant availability improved substantially to 98%, compared with 48% in the corresponding period last year. Power sales at the facility increased 187% year-on-year to 873 MUs. Meanwhile, Talwandi Sabo Thermal Plant (TSTP) supplied 2,945 MUs during the quarter, registering 6% growth compared to the previous year.

The company also reported an improvement in its financial position. Net debt declined to INR 7,444 crore, while its net debt-to-EBITDA ratio improved to 4.47 times from 9.82 times in Q2 FY26. Better cash flows, cost controls, and capital allocation contributed to the reduction in leverage. Vedanta Power also received credit rating upgrades to CRISIL AA− and ICRA AA−. During the period, the company was included in the Nifty 500 and Nifty Smallcap 250 indices.

On the sustainability front, Vedanta Power reduced freshwater consumption by 51% year-on-year, achieved 65% ash utilisation, and expanded biomass co-firing initiatives. Meenakshi Energy also continued operating entirely on saline water. Its social development programmes reached more than 1.7 lakh women and children across four states.

CEO and Whole-time Director Rajinder Singh Ahuja said the performance reflected the strength of the company’s assets, capacity additions, and ability to deliver reliable round-the-clock electricity. Looking ahead, Vedanta Power aims to become one of India’s top three private thermal power producers by FY33.