Daily Shorts
After the Adani meltdown, the spotlight is now on India’s biggest mining firm, Vedanta Resources Ltd
![vedanta](https://marksmendaily.com/wp-content/uploads/2023/03/vedanta.jpg)
The implosion of the Adani group stocks following allegations of fraud has brought into focus the huge debt pile of Vedanta Resources, India’s biggest mining company.
The highly-leveraged Vedanta Resources has a market value of $13.23 billion but also huge payment obligations, including $1 billion in bond repayments due next January. The group’s net debt after adjusting the cash component of $ 3.5 billion is around $11.8 billion.
Vedanta Group, however, has already announced a deleveraging commitment over the next three years. In terms of the repayments of long-term debt of $13.9 billion, the Group has $1.2 billion due by the second half of 2022-23, $4.1 billion by 2023-24, $3.9 billion by 2024-25 and $4.7 billion by 2025-26 and beyond.