The mining company invited Japanese companies to India to invest in the country’s first electronic manufacturing hub.
With a market capitalization of 85,607 crore, the stock of Vedanta opened flat at Rs 228 in Thursday’s morning session.
Vedanta invited Japanese companies to invest in India for an electronic manufacturing hub. The government of Gujarat invited Vedanta to the roadshow targeting Japan’s major electronic players ahead of the 10th vibrant Gujarat Global Summit.
Vedanta Invited the Japanese companies to partner in India’s electronic manufacturing and also highlighted the investment opportunity in the Indian markets, especially in Gujarat.
Akarsh K Hebbar, Global Managing Director of Vedanta’s semiconductor and display business highlights the investor-friendly environment in India and also mentioned about the country’s commitment towards providing Japanese companies to invest in India’s growing electronic manufacturing industry.
Furthermore he appreciated the government of Gujarat for their policies and excellent infrastructure facility. He also mentioned that Vedanta is in talks to establish a semiconductor and display fabs in Gujarat for which he invited the Japanese companies to partner with Vedanta for building the country’s first electronic manufacturing hub in the state which would potentially attract hundreds of SMEs and create more than one lakh jobs.
And also stated that there is an $80 billion opportunity for the companies investing in this hub for which Vedanta will be the anchor.
Vedanta’s group company AvanStrate Inc headquarters in Japan. Late last year it signed 30 agreements with Japanese technology companies to foster the development of India’s semiconductor and display manufacturing ecosystem.
Digging into the consolidated financial statements, the company reported a revenue of Rs 33,733 crore and a net profit of Rs 2,640 during Q1FY24.
While looking into the financial ratios, Return on Equity(RoE) was decreased to 27.7 percent in FY 22-23. And Return on Capital Employed (RoCE) was 21.29 percent during the same period. The dividend Yield was 36.95 percent which makes the company one of the highest paying dividend amongst the peers.
According to the latest shareholding pattern,the promoters hold 63.71 percent of the stake where the promoters have pledged 99.99 percent of the stake and the remaining 36.21 percent is held by the public.
Headquartered in Mumbai, the company has a presence within and outside India and specialises in mining. It has main operations in iron ore, gold, and aluminium mines in various states including Goa, Karnataka, Rajasthan ,and Odisha.And the company is planning to demerge its divisions of business which may take around 12-15 months.
Written by Vibhav Patil
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