Tag: Vedanta

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Vedanta’s Credit Ratings Reaffirmed by CRISIL and ICRA; Markets Rebound After Short-Seller Allegations

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India’s top credit rating agencies, CRISIL Ratings and ICRA, have reaffirmed the credit ratings of Vedanta Limited and its group companies, signaling sustained confidence in the group’s financial health, operational strength, and governance integrity.

CRISIL reaffirmed:

  • AAA for Hindustan Zinc Ltd
  • AA for Vedanta Ltd

ICRA similarly reaffirmed Vedanta’s AA rating, highlighting its improved leverage profile and operational efficiency.

These ratings come amid allegations made by short-seller Viceroy Research that targeted Vedanta Resources Ltd (VRL), the parent of Vedanta Ltd, accusing it of structural subordination and excessive reliance on dividends.

CRISIL, in its official statement, noted:

“The Vedanta management in response, via its press release dated July 9, 2025, has dismissed all the charges. Crisil notes that the stock prices for Vedanta Limited and Hindustan Zinc Limited have recovered since the report’s publication.”

CRISIL Ratings has outstanding ratings for 11 Vedanta group entities including ESL Steel Ltd, Talwandi Sabo Power Ltd, and Sesa Resources Ltd—all of which have been reaffirmed.

The agency also emphasized:

“Crisil keeps all its outstanding ratings under continuous surveillance. The ratings continue to be supported by the strength of the business risk profiles of their Indian operations and healthy financial performance.”

ICRA highlighted the Group’s commitment to debt reduction, with leverage improving to 2.5x in FY2025, compared to 3.2x in FY2024. It expects profitability in core verticals like aluminium and zinc to further improve financial metrics.

The agencies’ top-tier ratings refute Viceroy’s claims, instead showcasing Vedanta’s resilience, credibility, and capacity to meet all financial obligations. The recent refinancing of VRL’s debt has further smoothed maturity profiles and is expected to reduce finance costs starting FY2026.

What Do These Ratings Mean?

  • AAA (for Hindustan Zinc): Highest safety, lowest credit risk
  • AA (for Vedanta): High safety, very low credit risk

These ratings are a clear marker of Vedanta’s stability, particularly at a time when market speculation sought to cast doubt. The reaffirmation is not just symbolic—it is a robust endorsement from industry watchdogs that know the numbers best.

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From Aspiration to Achievement: Over 1 lac+ Youth Skilled by Sesa Goa

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As India gears up to achieve its economic aim of being a $7 trillion economy by 2030, the manufacturing sector is identified as a key enabler for achieving this aim. The National Policy on Skill Development envisages skilling of over 500 million individuals to meet the demands of India’s growing economy. Due to the sustained efforts of multiple agencies employability among Indian graduates has increased by 7% this year, reaching 54.81% in 2025, up from 51.25% last year, reveals Wheebox ETS India Skills Report 2025, in collaboration with CII, Taggd, AICTE, and AIU.

With around 65% of the population >35 years, India Skills Report identifies the age group of 22-25 with the highest employability and in order to maximise this potential, skilling targets need to be met integrating the programmes being instituted by corporate or private entities. Prioritising youth skilling, Vedanta Sesa Goa has rolled out several initiatives in diverse streams such technical, digital, sports and entrepreneurial skills, leading to over 1lac+ youth benefitting for the same progressively.

The Sesa Technical School (STS) in Goa, established in 1994, has helped create an industry-ready workforce.In its 31 years, the STS has achieved a near 100% placement record with over 2,000 technically qualified youth powering India’s economic surge. Specially curated courses for women trainees have also been commenced with the Computer Operator & Programming Assistant (COPA) course building further on inclusivity aims. Scholarships are also extended to encourage & spur women participation.

The India Skills Report 2025 identifies that 50% of secondary and tertiary students are likely to benefit vocational training imparted to them. The STS has recently initiated short term vocational training courses, which are expected to create over 1000 skilled youth in three years.

Expressing his thoughts on the contribution of Sesa Goa in the field of skilling, Mr Navin Jaju, CEO, Sesa Goa said ‘’For a rapidly evolving and progressive India, a skilled workforce is essential to achieve the aims of #ViksitBharat. We,at Vedanta Sesa Goa, prioritise skilling of our youth through technical training, digital skilling, sports and vocational training as a key part of our core philosophy of ‘giving back’ meaningfully to the society. Our endeavours such as the Sesa Technical School, Sesa Football Academy, Vedanta Computer Centres and Labs and Vedanta Tailoring Centres have contributed to the skilling of over 1 lac youth since 2018.”

Mr Pradip Sarmokadam , Member Secretary Goa State Biodiversity Board & Chief Guest stated during a visit to the STS in Jun ’25 that “I would like to extend heartiest congratulations to STS & SFA for their contribution in shaping the futures of the youth from the villages & mining belt. I also compliment them for their efforts towards skilling the youth as upskilling is extremely important for building self-confidence”
As per Teuila Hampson, Chief People’s Officer, LinkedIn, by 2030 the skills needed to do work in India would have undergone a change by 64% with innovation , digital and AI-based skills driving the change. This necessitates that the digital divide is bridged and Sesa Goa with 8 Vedanta Computer Centres & 18 Vedanta Computer Labs has since 2018, ‘digitally’ enabled over 80000 students across locations. The emphasis on digital skilling recognises the decisive trends in skilling & aligns with the World Youth Skills Day 2025 with its theme – “Youth Skills for the Digital Era.”

Vedanta Sesa Goa’s focus on skilling extends to developing entrepreneurial and sporting skills.The Sesa Football Academy (SFA) in Goa has emerged as a powerful talent hub, with over 230+ graduates among whom are 11 who have donned India colours at the international level. The Vedanta Women’s League has had a massive impact on women’s football in Goa, with cumulatively over 1400 women players having found a platform to develop skills in the sport.

Aspects such as developing entrepreneurial skills as part of Project ‘Jeevika’ and mentoring youth through placement-linked skill training also form a vital part of Sesa Goa’s contribution to skilling.

A holistic approach to skilling will contribute to creating a powerful ecosystem of opportunity for India’s youth. Digital & AI fluency along with technical, vocational and other skills will ensure the fulfilling of the vision of a #ViksitBharat.