News ArticleVedanta Power Achieves Record Q2 FY27 Earnings with 122% EBITDA Increase and Positive EPS of 0.21
Quarterly revenue rises 38% to INR 2,908 crore and profit before exceptional items climbs 171% to INR 101 crore amid strong power generation and sales growth
Vedanta Power Limited announced its highest-ever quarterly performance in Q2 FY27, posting a 38% revenue increase to INR 2,908 crore and a 122% surge in EBITDA to INR 421 crore. Profit after tax before exceptional items rose 171% to INR 101 crore, marking the company's first positive earnings per share of 0.21, driven by strong operational execution and power sales growth.
Vedanta Power Limited
Investor Presentation
Vedanta Power Limited delivered its highest-ever quarterly performance for the second quarter ended September 30, 2026, with revenue rising 38% year-on-year to INR 2,908 crore and EBITDA surging 122% to INR 421 crore. The company reported a 171% increase in profit after tax before exceptional items to INR 101 crore and recorded its first positive earnings per share at 0.21, underpinned by strong operational execution and increased power sales.
The company’s profit before exceptional items turned positive from a loss of INR 142 crore in Q2 FY26, marking a significant financial milestone. Power sales increased 26% year-on-year to 5,593 million units, driven by higher generation and improved plant availability across assets.
At Meenakshi Energy Limited, power sales jumped 111% to 1,470 million units, reflecting the restoration of full 1,000 MW capacity. Jharsuguda Independent Power Plant reported 98% plant availability and an 187% increase in power sold. Talwandi Sabo Thermal Plant delivered a 6% increase in volume sold, totaling 2,945 million units in the quarter.
For the half-year ended September 30, 2026, Vedanta Power posted revenue of INR 5,515 crore, up 35% year-on-year, and EBITDA of INR 712 crore, up 17%. Profit after tax before exceptional items rose 178% to INR 42 crore. The net debt to EBITDA ratio improved notably to 4.47 times from 9.82 times a year prior.
The company also highlighted sustainability initiatives, including biomass co-firing, significant reduction in freshwater consumption, ash utilization, and extensive tree planting efforts across its assets, alongside community support programs benefiting over 1.7 lakh women and children.
Vedanta Power’s operational and financial progress is supported by stable long-term coal linkages and power purchase agreements, such as the five-year agreement for 300 MW with Tamil Nadu Power Development Corporation.
Highlights
- Vedanta Power’s Q2 FY27 revenue rose 38% to INR 2,908 crore year-on-year.
- EBITDA surged 122% to INR 421 crore, a 45% increase quarter-on-quarter.
- Profit after tax before exceptional items grew 171% to INR 101 crore, resulting in first positive EPS of 0.21.
- Power sales increased 26% year-on-year to 5,593 million units driven by operational improvements.
- Net debt to EBITDA ratio improved from 9.82x to 4.47x compared to prior year.
- Meenakshi Energy power sales climbed 111% year-on-year to 1,470 million units after capacity restoration.
Key Data Snapshot
What happened
- Vedanta Power reported record revenue of INR 2,908 crore and EBITDA of INR 421 crore in Q2 FY27.
- Profit after tax before exceptional items rose by 171% year-on-year to INR 101 crore, turning positive from INR -142 crore last year.
- The company achieved its first-ever positive earnings per share of 0.21.
- Power sales increased by 26% to 5,593 million units driven by higher generation and operational turnaround.
Key details
- Meenakshi Energy’s power sales more than doubled year-on-year to 1,470 million units following capacity restoration.
- Jharsuguda plant availability surged to 98%, nearly doubling from 48% a year ago, with power sales up 187%.
- Talwandi Sabo Thermal Plant’s power sales grew 6% year-on-year to 2,945 million units.
- Net debt reduced and leverage improved with Net Debt/EBITDA falling from 9.82x to 4.47x year-on-year.
Financial performance
- Q2 FY27 revenue increased 38% year-on-year, with EBITDA rising 122%.
- Profitability turnaround marked by profit before exceptional items expanding 171% to INR 101 crore.
- Half-year ended September 30, 2026, financials included revenue of INR 5,515 crore, EBITDA of INR 712 crore, and profit before exceptional items of INR 42 crore.
- Quarter-on-quarter EBITDA improved 45%, and profit increased 271%.
Operational performance
- Restoration of 1,000 MW capacity at Meenakshi Energy in Andhra Pradesh supports growth.
- Jharsuguda Independent Power Plant’s availability improved significantly to 98%.
- Talwandi Sabo plant availability was 79% in Q2 FY27, with improved power generation volumes.
- Sakti plant synchronised on October 25, 2026, expected to contribute EBITDA and cash flow going forward.
Strategic context
- Vedanta Power focuses on asset reliability, organic expansion and turning around acquired assets.
- The company aims to become one of India’s top three private thermal power producers by fiscal year 2033.
- Long-term coal supply security at 85% supports stable operations.
- Sustainability initiatives include biomass co-firing and reduced freshwater consumption.
Regulatory and governance context
- Ratings upgraded to CRISIL AA− and ICRA AA− reflecting improved financial discipline.
- Inclusion in Nifty 500 and Nifty Smallcap 250 indices.
- Domestic coal linkages and power purchase agreements provide fuel and revenue visibility.
Highlights
- Vedanta Power’s Q2 FY27 revenue rose 38% to INR 2,908 crore year-on-year.
- EBITDA surged 122% to INR 421 crore, a 45% increase quarter-on-quarter.
- Profit after tax before exceptional items grew 171% to INR 101 crore, resulting in first positive EPS of 0.21.
- Power sales increased 26% year-on-year to 5,593 million units driven by operational improvements.
- Net debt to EBITDA ratio improved from 9.82x to 4.47x compared to prior year.
- Meenakshi Energy power sales climbed 111% year-on-year to 1,470 million units after capacity restoration.
Disclosures
- Indian Accounting Standards (Ind AS) pertaining to financial reporting.
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