Anil Agarwal-owned Vedanta has generated a free cash flow of over Rs 11,000 crore in FY16, despite the storm in metal and mining industry. The cash flow was about three times higher than FY-15.
The higher free cash flow has helped the company to reduce net debt by over Rs 6,000 crore and the group’s liquidity remains strong with over Rs 52,000 crore of cash and cash equivalents. Hindustan Zinc, a subsidiary of Vedanta, announced highest-ever dividend of over Rs 12,000 crore. Of this, Rs 6,500 crore flowed to Vedanta and about Rs 5,000 crore was paid to the Government.
Vedanta is an India-based global diversified natural resources company with operations across zinc, lead, silver, oil and gas, iron ore, copper, aluminum and commercial power. The company operates through segments, including Copper, Aluminium, Iron Ore, Power and Others.
