Vedanta : Production Release VEDL Q3 FY22

Vedanta Limited

Regd. Office: Vedanta Limited 1st Floor, 'C' Wing,

Unit 103, Corporate Avenue, Atul Projects,

Chakala, Andheri (East),

Mumbai 400093, Maharashtra.

www.vedantalimited.com

CIN: L13209MH1965PLC291394

03 January 2022

Vedanta Limited

Production Release for Q3 FY2022 and Nine months ended

31st December 2021

Aluminium

Particulars		Q3			Q2		9 months
		%			%			%
(In '000 tonnes, or as stated)	FY 22	FY 21	FY 22		FY22	FY21
Change		Change	Change
Alumina- Lanjigarh	472	407	16%	511		(8)%	1,465	1,345	9%
Total Aluminium Production	579	497	16%	570		2%	1,697	1,438	18%
Jharsuguda-I	138	132	4%	138		-	413	396	4%
Jharsuguda-II	294	218	35%	285		3%	846	617	37%
BALCO-I	67	68	(1)%	67		1%	200	199	-
BALCO-II	80	79	1%	79		-	238	227	5%

Q3 FY2022 vs. Previous Quarters

The Lanjigarh refinery produced 472,000 tonnes of alumina in Q3 FY22, 16% higher as compared to Q3 FY2021 and 8% lower as compared to Q2 FY2022.

The cast metal aluminium production at our smelters stood at 579,000 tonnes in Q3 FY22, higher 16% in comparison to Q3 FY2021 and 2% as compared to Q2 FY2022.

Nine months ended FY2022 vs. Nine months ended FY2021

Record Aluminium production of 16,97,000 tonnes in nine months ended FY2022, 18% higher y-o-y, and Alumina production was 1,465,000 tonnes, 9% higher y-o-y.

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Registered Office: Vedanta Limited 1st Floor, 'C' Wing, Unit 103, Corporate Avenue, Atul Projects, Chakala,

Andheri (East), Mumbai 400093, Maharashtra, India.

CIN: L13209MH1965PLC291394

Production Release for Q3 FY2022 and nine months ended

31st December 2021

Zinc India

Particulars		Q3			Q2		9 months
		%			%			%
(In '000 tonnes, or as stated)	FY 22	FY 21	FY 22		FY22	FY21
Change		Change	Change
Mined Metal Content	252	244	3%	248		1%	722	684	6%
Integrated saleable Metal	261	235	11%	209		25%	707	674	5%
Refined Zinc Integrated	214	182	17%	162		32%	565	520	9%
Refined Lead Integrated	47	52	(10)%	47		1%	142	153	(7)%
Silver Integrated (in tonnes)	173	183	(5)%	152		14%	485	503	(4)%
Silver Integrated (in mn oz)	5.5	5.9	(5)%	4.9		14%	15.6	16.2	(4)%

Q3 FY2022 vs. Previous Quarters

Ever highest quarterly Integrated metal production 261,000 tonnes, up 11% as compared to Q3 FY2021 & 25% compared to Q2 FY2022, mainly due to better plant and mined metal availability. Integrated zinc production was 214,000 tonnes, up 17% as compared to Q3 FY2021 and 32% as compared to Q2 FY2022. Integrated lead production was 47,000 tonnes for Q3 FY2022, down 10% as compared to Q3 FY2021 on account of changing mode of Pyro plant (CLZS) operations from Lead mode to Zinc-Lead mode.

Integrated saleable silver production was 173 MT, down 5% as compared to Q3 FY2021 in line with lower lead production & up 14% as compared to Q2 FY2022 due to depletion of WIP.

Mined metal production for Q3 FY2022 was 252,000 tonnes, up 3% as compared to Q3 FY2021 on account of higher ore production at Sindesar khurd & Zawar mines and higher feed grade at Rampura Agucha, supported by improvement in recovery, which has been partly offset by lower mining grades.

Nine months ended FY2022 vs. Nine months ended FY2021

Ever highest mined metal production 722,000 tonnes in nine months ended FY2022 up 6% y-o-y in line with higher ore production at Rampura Agucha, Sindesar khurd & Zawar mines and increased recovery, partly offset by lower overall mining grades. Nine months ended FY2022 metal production was 707,000 up 5% as compared to Nine months ended FY2021 in line with better plant and concentrate availability, while silver production was 4% lower y-o-y at 485 MT in line with lower Lead metal production & depletion of silver WIP.

Zinc -International

Particulars		Q3			Q2		9 months
		%			%				%
(In '000 tonnes, or as stated)	FY 22	FY 21	FY 22		FY22	FY21
Change		Change		Change
ZINC INTERNATIONAL	52	59	(11)%	55		(4)%	168	147		14%
Zinc refined - Skorpion	-	-	-	-		-	-	1		(100)%
Mined Metal Content - BMM	11	16	(28)%	16		(30)%	42	43		(3)%
Mined Metal Content - Gamsberg	41	43	(5)%	39		6%	126	103		22%

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Registered Office: Vedanta Limited 1st Floor, 'C' Wing, Unit 103, Corporate Avenue, Atul Projects, Chakala,

Andheri (East), Mumbai 400093, Maharashtra, India.

CIN: L13209MH1965PLC291394

Production Release for Q3 FY2022 and nine months ended

31st December 2021

Q3 FY2022 vs Previous Quarters

Total production for Q3 FY2022 was 52,000 tonnes, 11% lower compared to Q3 FY2021 and 4% compared to Q2 FY2022.

BMM produced 11,000 tonnes in Q3 FY2022, 28% lower than Q3 FY2021 due to lower throughput, recovery and lower grades and 30% lower as compared to Q2 FY2022 due to lower throughput and grades partly offset by higher zinc recoveries.

Gamsberg production was 41,000 tonnes in Q3 FY2022, 5% lower as compared to Q3 FY2021 due to lower Zn recovery and 6% higher as compared to Q2 FY2022 due to higher throughput and higher Zn recovery.

Skorpion remained under care and maintenance in Q3 FY2022 following multiple slope failures and geotechnical instabilities in FY2020.

Nine months ended FY2022 vs Nine months ended FY2021

Total production for nine months ended FY2022 was 168,000 tonnes, higher by 14% as compared to nine months ended FY2021 mainly due to higher tonnes treatment and COVID-19 restrictions which were in place in FY2021.

BMM produced 42,000 tonnes for nine months ended FY2022, 3% lower compared to nine months ended FY2021 impacted by lower grades and lower recoveries partly offset by higher throughput.

Gamsberg production was 126,000 tonnes for nine months ended FY2022, 22% higher as compared to nine months ended FY2021 mainly on account of higher throughput and improved Zn recovery.

Skorpion production for nine months ended FY2022 was nil as compared to 700 tonnes in nine months ended FY2021.

Oil & Gas

		Q3			Q2		9 months
	FY 2022	FY 2021	%	FY 2022		%	FY 2022	FY 2021	%
Particulars	change		change	change
Average Daily Gross Operated	159,230	159,621	0%	165,327		(4%)	163,146	161,157	1%
Production (boepd)
Rajasthan	136,795	132,174	3%	141,766		(4%)	139,452	130,813	7%
Ravva	14,457	16,770	(14%)	14,282		1%	14,466	20,132	(28%)
Cambay	7,906	10,677	(26%)	9,279		(15%)	9,204	10,212	(10%)
Average Daily Working	102,795	100,998	2%	106,707		(4%)	105,119	100,588	5%
Interest Production (boepd)
Rajasthan	95,756	92,522	3%	99,236		(4%)	97,616	91,569	7%
Ravva	3,253	3,773	(14%)	3,213		1%	3,255	4,530	(28%)
Cambay	3,162	4,271	(26%)	3,712		(15%)	3,681	4,085	(10%)
KG-ONN 2003/1	550	432	27%	546		1%	542	405	34%
Total Oil and Gas (million boe)
Oil and Gas - Gross	14.6	14.7	0%	15.2		(4%)	44.9	44.3	1%
Oil and Gas - Working Interest	9.5	9.3	2%	9.8		(4%)	28.9	27.7	5%

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Registered Office: Vedanta Limited 1st Floor, 'C' Wing, Unit 103, Corporate Avenue, Atul Projects, Chakala,

Andheri (East), Mumbai 400093, Maharashtra, India.

CIN: L13209MH1965PLC291394

Production Release for Q3 FY2022 and nine months ended

31st December 2021

Q3 FY2022 vs. Previous Quarters

Average gross operated production during Q3 FY2022 across our assets was 159,230 barrels of oil equivalent per day (boepd), flat compared to Q3 FY2021 and down by 4%, compared to Q2 FY2022.

Gross production from the Rajasthan block averaged 136,795 boepd for the quarter, 3% up as compared to Q3 FY2021 and down 4% as compared to Q2 FY2022. The natural decline in the MBA fields has been partially offset by the continued gains realized from polymer injection in Bhagyam & Aishwariya fields and new infill wells brought online in Mangala field. Gross production from Development Area-1(DA-1), Development Area- 2 (DA-2) and Development Area-3(DA-3) averaged 120,459 boepd, 16,163 boepd and 173 boepd respectively.

Gas production from Raageshwari Deep Gas (RDG) averaged 159.2 million standard cubic feet per day (mmscfd) (equiv. 26.5 kboepd) in Q3 FY2022, with gas sales post captive consumption at 131.4 mmscfd (equiv. 21.9 kboepd).

The Ravva block produced at an average rate of 14,457 boepd for Q3 FY2022, down 14% as compared to Q3 FY2021 and up 1% as compared to Q2 FY2022. Previous year production included gains from infill drilling campaign.

The Cambay block produced at an average rate of 7,906 boepd for the Q3 FY2022, down 26% as compared to Q3 FY2021 and down 15% as compared to Q2 FY2022. The reduction is primarily due to natural field decline.

Nine months ended FY2022 vs. Nine months ended FY2021

Average gross operated production across our assets was at 163,146 boepd in nine months ended FY2022, 1% up as compared to nine months ended FY2021. Production from Rajasthan block was at 139,452 boepd, 7% up as compared to the same period in FY2021. The natural field decline has been offset by ramp-up of gas production, infill wells in Mangala field and impact of polymer injection in Bhagyam and Aishwariya fields. Production from the offshore assets, was at a combined 23,670 boepd, down 22% as compared to the same period in FY2021, owing to natural field decline.

Iron Ore

Particulars		Q3			Q2		9 months
(In dmt, or as stated)	FY 22	FY 21	%	FY 22	%	FY22	FY21	%
Change	Change	Change
Sales
Goa	0.1	0.58	(90)%	0.1	(42)%	0.53	1.3	(60)%
Karnataka	1.5	1.20	24%	1.2	24%	4.0	3.0	34%
Production of Saleable Ore
Goa	-	-	-	-	-	-	-	-
Karnataka	1.2	1.4	(14)%	1.3	(4)%	4.0	3.9	4%
Production ('000 tonnes)
Pig Iron	202	145	39%	208	(3)%	612	440	39%

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Registered Office: Vedanta Limited 1st Floor, 'C' Wing, Unit 103, Corporate Avenue, Atul Projects, Chakala, Andheri (East), Mumbai 400093, Maharashtra, India.

CIN: L13209MH1965PLC291394

Production Release for Q3 FY2022 and nine months ended

31st December 2021

Q3 FY2022 vs. Previous Quarters

There was no production at Goa due to the continuation of suspension of mining pursuant to the Hon'ble Supreme Court judgment dated 7th February 2018 directing mining operations of all companies in Goa to stop with effect from 16th March 2018. We continue to engage with the Government for resumption of mining operations.

At Karnataka, production volume in Q3 FY2022 was 1.2 million tonnes, lower by 14% as compared to Q3 FY2021 and 4% as compared to Q2 FY2022 due to impact on operations because of heavy rainfall in Q3 FY2022.

Pig iron production was at 2,02,000 tonnes in Q3 FY2022, higher by 39% as compared to Q3 FY2021 due to shut down in Q3 FY2021 for carrying out relining activities at one of the furnaces and 3% lower as compared to Q2 FY2022.

Nine months ended FY2022 vs. Nine months ended FY2021

At Karnataka, production was higher by 4%. FY2021 had an impact of nationwide COVID-19 lockdown.

Pig Iron production was higher by 39% due to better efficiency of furnace operations post relining.

Steel

Particulars		Q3			Q2		9 months
(In '000 tonnes, or as	FY 22	FY 21	%	FY 22	%	FY22	FY21	%
stated)	Change	Change	Change
Finished Production	350	340	3%	293	20%	932	868	7%
Pig Iron	48	31	56%	38	27%	138	141	(2)%
Billet	21	18	17%	59	(64)%	105	153	(32)%
TMT Bar	114	124	(8)%	66	72%	268	220	22%
Wire Rod	120	124	(3)%	90	33%	302	264	15%
Ductile Iron Pipes	48	43	11%	40	19%	119	90	32%

Q3 FY2022 vs. Previous Quarters

Total saleable production for Q3 FY2022 was 350 KT, higher by 3% as compared to Q3 FY2021 and 20% as compared to Q2 FY2022 owing to capital shutdown at Blast Furnace in Aug'21.

Nine months ended FY2022 vs. Nine months ended FY2021

Total Saleable production for nine months ended FY2022 was 932 KT, 7% higher as compared to nine months ended FY2021 mainly due to COVID-19 restrictions which were in place in FY2021

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Registered Office: Vedanta Limited 1st Floor, 'C' Wing, Unit 103, Corporate Avenue, Atul Projects, Chakala, Andheri (East), Mumbai 400093, Maharashtra, India.

CIN: L13209MH1965PLC291394