Even as Vedanta Ltd.’s operating profit rose to its highest in 10 quarters, inter-company loans, impairment on oil & gas assets and uncertainty around dividend policy continues to be a cause of worry for minority shareholders and analysts.
The company, in its conference call with analysts, remained silent on open offer or revisiting delisting plans after its earlier effort failed, saying that it will be unable to comment on market related activities since they will be speculative in nature.
Key Highlights From Concall
Increase In Inter-Company Loans
While billionaire Anil Agarwal’s Vedanta Resources, the holding company of the group, failed to garner the required number of shares to delist Indian subsidiary Vedanta, it borrowed an additional loan from subsidiary Cairn India Holdings.
As a part of the company’s cash management activities, Cairn India Holdings has extended loans…
