News ArticleVedanta Power Reports Highest-Ever Q2 FY27 Performance Driven by 122% EBITDA Surge and Positive EPS
Revenue rises 38% YoY to INR 2,908 crore; Profit Before Tax jumps 171% to INR 101 crore, reflecting operational excellence across portfolio
Vedanta Power Ltd. achieved its highest-ever quarterly results for Q2 FY27, reporting a 38% year-on-year revenue increase to INR 2,908 crore, a 122% rise in EBITDA to INR 421 crore, and its first positive Earnings Per Share of 0.21. Profit Before Tax increased by 171% to INR 101 crore, led by strong operational performance and asset turnarounds across key plants.
Vedanta Power Limited
Investor Presentation
Vedanta Power Limited announced record financial results for the quarter ended September 30, 2026, with revenue increasing 38% year-on-year to INR 2,908 crore and EBITDA more than doubling to INR 421 crore. The company posted its first positive earnings per share of 0.21 and a Profit Before Tax of INR 101 crore, marking a 171% increase from the previous year, driven by strong power sales and improved operational efficiencies across its energy plants.
The quarter's performance reflects a strong operational turnaround at key facilities, including a 111% year-on-year increase in power sales at Meenakshi Energy Limited, 187% growth at Jharsuguda with plant availability reaching 98%, and a 6% increase at Talwandi Sabo Thermal Plant.
On a half-year basis, Vedanta Power reported revenue of INR 5,515 crore, EBITDA of INR 712 crore, and Profit Before Tax of INR 42 crore, showing significant year-on-year improvements. The company’s sustained focus on asset efficiency and capacity expansions contributed to increased power generation volumes totalling 10,817 million units for the first half of FY27.
The company’s financial health improved with a reduction in net debt to EBITDA ratio from 9.82x to 4.47x year-on-year and cash reserves of INR 1,063 crore. Upgrades in credit ratings to CRISIL AA− and ICRA AA− were also noted. Sustainability initiatives include biomass co-firing, reduced freshwater usage, and extensive tree planting programs.
Vedanta Power continues to prioritize operational excellence, cost discipline, and asset reliability as it aims to become one of India’s top three private thermal power producers by FY33.
Highlights
- Revenue grew 38% YoY to INR 2,908 crore in Q2 FY27
- EBITDA surged 122% YoY to INR 421 crore and increased 45% QoQ
- Profit Before Tax before exceptional items rose 171% YoY to INR 101 crore
- First positive Earnings Per Share (EPS) of 0.21 reported
- Power sales volume increased 26% YoY to 5,593 million units
- Meenakshi Energy Q2 power sales jumped 111% YoY to 1,470 million units with EBITDA of INR 101 crore, focusing on 100% domestic coal use | Jharsuguda plant availability rose to 98%, power sales up 187% YoY to 873 million units| Talwandi Sbo
Key Data Snapshot
What happened
- Vedanta Power achieved its highest-ever quarterly performance in Q2 FY27 with record revenue and profit growth.
- Revenue rose 38% year-on-year to INR 2,908 crore, and EBITDA increased by 122% to INR 421 crore.
- Profit Before Tax before exceptional items grew 171% year-on-year to INR 101 crore.
- The company reported its first-ever positive Earnings Per Share of 0.21.
- Power sales increased 26% year-on-year to 5,593 million units driven by improved plant performance and operational efficiency.
Key details
- Meenakshi Energy Limited’s power sales surged 111% year-on-year to 1,470 million units during Q2 FY27, contributing EBITDA of INR 101 crore.
- Jharsuguda Power Plant’s availability improved markedly to 98%, with power sales rising 187% year-on-year to 873 million units.
- Talwandi Sabo Thermal Power Plant supplied 2,945 million units in Q2 FY27, a 6% year-on-year increase.
- Net Debt to EBITDA ratio improved from 9.82x in Q2 FY26 to 4.47x in Q2 FY27, indicating stronger financial health.
- Cash on hand was INR 1,063 crore and net debt reduced to INR 7,444 crore.
Financial performance
- Half-year revenue for FY27 was INR 5,515 crore, up 35% year-on-year.
- Half-year EBITDA reached INR 712 crore, an increase of 17% year-on-year.
- Profit Before Tax before exceptional items for the half-year was INR 42 crore, a 178% increase year-on-year.
- Quarter-on-quarter EBITDA increased by 45%, and Profit Before Tax grew by 271%.
Operational performance
- Jharsuguda plant achieved 98% availability in Q2 FY27, up from 48% in the prior-year quarter.
- Talwandi Sabo plant availability was 79% for Q2 FY27 with an 8% quarter-on-quarter increase in volume sold.
- Meenakshi Energy restored full 1,000 MW capacity in 2025 after acquisition, driving power sales growth.
- Sakti power plant was synchronized on October 25, 2026 and is expected to contribute to future EBITDA.
Regulatory and governance context
- Vedanta Power upgraded its credit ratings to CRISIL AA- and ICRA AA-.
- The company was included in Nifty 500 and Nifty Smallcap 250 indices.
- Domestic coal linkages and long-term supply contracts provide fuel and revenue visibility, including a 5-year power purchase agreement at Meenakshi Energy for 300 MW with Tamil Nadu Power Development Corporation Limited.
Business impact
- Operational turnarounds and capacity expansions led to significant profitability improvements.
- Sustainability initiatives included biomass co-firing, 100% saline water operations at Meenakshi Energy, 51% reduction in freshwater consumption, and planting over 9 lakh trees.
- More than 1.7 lakh women and children benefited from community programs, and the workforce comprises 76% local employees.
Highlights
- Revenue grew 38% YoY to INR 2,908 crore in Q2 FY27
- EBITDA surged 122% YoY to INR 421 crore and increased 45% QoQ
- Profit Before Tax before exceptional items rose 171% YoY to INR 101 crore
- First positive Earnings Per Share (EPS) of 0.21 reported
- Power sales volume increased 26% YoY to 5,593 million units
- Meenakshi Energy Q2 power sales jumped 111% YoY to 1,470 million units with EBITDA of INR 101 crore, focusing on 100% domestic coal use | Jharsuguda plant availability rose to 98%, power sales up 187% YoY to 873 million units| Talwandi Sbo
Disclosures
- Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015
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