One to Five: Anil Agarwal Outlines $100 Billion Vision for Demerged Vedanta Entities

Following the listing of its newly separated businesses, Vedanta Group Chairman Anil Agarwal has shared an incredibly bullish outlook for the conglomerate’s future. Addressing shareholders at the company’s Annual General Meeting (AGM), Agarwal declared that each of Vedanta’s five demerged, independent businesses has the potential to eventually scale into a $100 billion enterprise.

The ambitious claim follows the recent listing of Vedanta Aluminium Metal, Vedanta Power, Vedanta Oil & Gas, and Vedanta Iron & Steel as separate public entities alongside the parent holding company, Vedanta Ltd.

“Five Opportunities Instead of One”

Agarwal framed the demerger as a monumental corporate transformation aimed at unlocking massive, pure-play value for investors who previously held a single, integrated stock.

“A year ago, you were shareholders of one integrated company. Today, you own five opportunities. Very few corporate transformations in the world have created such an opportunity for shareholders.”

— Anil Agarwal, Chairman, Vedanta Group

Inside the Strategic Blueprint for the Five Futures

The group’s aggressive expansion strategy relies on three main principles: producing more, partnering better, and driving purpose beyond profit. Here is how Vedanta plans to scale its primary business divisions to target massive valuations:

• Vedanta Aluminium Metal: As India’s largest aluminium producer, the goal is to double production capacity to 6 million tonnes within the next three years, focusing on maintaining the lowest production cost structure globally.

• Vedanta Oil & Gas: The group has set an aggressive operational target to scale oil production up to 500,000 barrels per day.

• Vedanta Iron & Steel: Capacity is targeted to grow from 4 million tonnes to 15 million tonnes annually, with a heavy structural shift toward green steel and high-margin specialty steel products.

• Vedanta Power: Plans to scale electricity generation to 20,000 MW, while actively exploring a strategic foray into nuclear energy.

• Vedanta Ltd (Holding / Base Metals & Mining): The listed parent will continue driving intensive growth in other critical metals. Targets include tripling zinc and lead output to 3 million tonnes by 2031, doubling silver production to 1,500 tonnes, and scaling copper capacity to 1 million tonnes by the end of the decade.

Record Financial Foundations

The massive expansion push is backed by a highly profitable fiscal year. Vedanta reported blockbuster numbers, showing a robust financial foundation to fund its capital expenditure (CapEx) pipelines:

In addition to expanding base metal outputs, the group is accelerating its exploration pipelines across ten critical mineral blocks globally—targeting high-demand commodities like lithium, nickel, cobalt, manganese, and rare earth elements to power the green transition.