MIRA INFORM REPORT

Report No. :	330585
Report Date :	03.07.2015

IDENTIFICATION DETAILS

Name :	VEDANTA LIMITED

Formerly Known As :	SESA STERLITE LIMITED

Registered Office :	Sesa Ghor 20 Edccomplex Patto, Panjim – 403001, Goa
Tel. No.:	91-832-2460600

Country :	India

Financials (as on) :	31.03.2015

Date of Incorporation :	25.06.1965

Com. Reg. No.:	24-000044

Capital Investment / Paid-up Capital :	Rs. 2965.000 Millions

CIN No.: [Company Identification No.]	L13209GA1965PLC000044

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	BLRS14062G

PAN No.: [Permanent Account No.]	AACCS7101B

Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

Line of Business :	Subject is engaged in the business of iron ore mining, non-ferrous metals (copper and aluminum production) and commercial power generation.

No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

A (70)

RATING		STATUS	PROPOSED CREDIT LINE
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large

Status :	Good

Payment Behaviour :	Regular

Litigation :	Exist

Comments :	Subject is well-established company having fine track record. The rating reflects company’s diversified business risk profile supported by its adequate liquidity levels and healthy financial position of the company. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good for normal business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating: AA+
Rating Explanation	High degree of safety and very low credit risk.
Date	20.01.2015

Rating Agency Name	CRISIL
Rating	Short term rating: A1+
Rating Explanation	Very strong degree of safety and carry lowest credit risk.
Date	20.01.2015

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

INFORMATION DENIED

Management non co-operative (Tel. No.: 91-832-2460600)

LOCATIONS

Registered Office :	Sesa Ghor 20 Edccomplex Patto, Panjim – 403001, Goa, India
Tel. No.:	91- 832-2460600
Fax No.:	Not Available
E-Mail :	c.chitnis@vedanta.co.in neha.bhandari@vedanta.co.in comp.sect@vedanta.co.in
Website :	www.sesagoa.com
Corporate Office :	Vedanta 75, Nehru Road, Vile Parle, Mumbai – 400057, Maharashtra, India
Tel. No.:	91-22-66461000

Head Office :	Business Square, C Wing 2^nd Floor Andheri Kurla Road, Chakala Andheri East Mumbai – 400096, Maharashtra, India

Plant Locations : (Division)

Copper Anodes (Smelter), Refinery, Continuous Cast Copper Rods and Captive Power Plant :	SIPCOT Industrial Complex, Madurai By-pass Road, T.V. Puram PO, Tuticorin – 628002, Tamilnadu, India

Copper Cathodes (Refinery) and Continuous Cast Copper Rods :	1/1/2 Chinchpada,Silvassa – 396230 Union Territory of Dadra and Nagar Haveli, India

Continuous Cast Copper Rods :	209-B, Piparia Industrial Estate, Piparia, Silvassa – 396230, Union Territory of Dadra and Nagar Haveli, India

Iron Ore - Mining :	Codli Mine, P.O. Kirlapale, Dabal - 403706, Goa, India
Tel. No.:	91-832-2617200
Fax No.:	91-832-2618280

Iron Ore – Mining :	Madakeritura and other villages in Holakere and Chitradurga District, Karnataka, India

Pig Iron/ Metallurgical Coke (Met Coke) :	Navelim / Amona Village, Bicholim Taluka, Goa, India

Aluminium Smelters (erstwhile Vedanta Aluminium Limited) :	PMO Office, Bhurkhamunda, P O: Sripura, District: Jharsuguda – 768201, Orissa, India

Alumina Refinery (erstwhile Vedanta Aluminium Limited) :	Alumina Refinary Project, At / PO – Lanjigarh, Via – Viswanathpur, Kalahandi, Lanjigarh -766027, Odisha, India

Aluminium (erstwhile Madras Aluminium Company Limited) :	Mettur Dam R.S., Salem District - 636402, Tamilnadu, India

Power (erstwhile Sterlite Energy Limited) :	PMO Office, Bhurkahamunda PO-Sripura, Dist- Jharsuguda -768202, Odisha, India

Plant :	Business Square, Solitaire park, Andheri- Mumbai – 400093, Maharashtra, India

Shipping:	Queeny Elite, 1st Floor Swatantrapath, Vasco Da Gama - 403802, Goa, India
Tel. No.:	91-832-2513053
Fax No.:	91-832-2511916

Coke Plant:	MetCoke Division, P.O. Bicholim, Amona, Goa - 403505 India
Tel. No.:	91-832-3981400

Pig Iron Plant:	P.O. Bicholim, Amona, Goa - 403107, India
Tel. No.:	91-832-2386090

Ship Building:	Sirsaim, Tivim Bardez Goa - 403502, India
Tel. No.:	91-832-2298357
Fax No.:	91-832-2298439

Sesa Community:	Development Foundation - NCM Sesa Technical School, - Sesa Football Academy, P.O. Sanquelim, Goa – 403505, India
Tel. No.:	91-832-2365509

Iron Ore Division:	Located at · Shanghai

DIRECTORS

As on 31.03.2015

Name :	Mr. Navin Agarwal
Designation :	Executive Chairman
Date of Birth/ Age:	53 Years

Name :	Lalita D, Gupte
Designation :	Independent Non-executive Director
Date of Birth/ Age:	65 Years
Qualification :	Bachelor’s Degree in Economics and a Master’s degree in Business Management, advanced management programme from INSEAD
DIN No.:	00043559

Name :	Mr. Naresh Chandra
Designation :	Independent Non-executive Director
Date of Birth/ Age:	79 Years
Qualification :	Post graduate, Master of Science in Mathematics from Allahabad University and a retired officer of the Indian Administrative Services.
DIN No.:	00015833

Name :	Mr. Ravi Kant
Designation :	Independent Non-executive Director

Name :	Mr. Gurudas Kamat
Designation :	Independent Non-executive Director

Name :	Tarun Jain
Designation :	Whole-time Director
Date of Birth/ Age:	54 Years
Qualification :	Mr. Jain is a Fellow Member of The Institute of Chartered Accountants of India, a graduate of The Institute of Cost and Works Accountants of India and a Fellow member of The Institute of Company Secretaries of India
DIN No.:	00006843

Name :	D. D. Jalan
Designation :	Whole-time Director and Chief Financial Officer
Date of Birth/ Age:	57 Years
Qualification :	Mr. Jalan is a Fellow Member of The Institute of Chartered Accountants of India.
DIN No.:	00006882

Name :	Tom Albanese
Designation :	Director and Chief Executive Officer

Name :	Mr. Ravi Kant
Designation :	Independent Non-executive Director
Date of Birth/ Age:	69 Years
Qualification :	Bachelor of Technology degree in Metallurgical Engineering from the Institute of Technology, Kharagpur and a Master’s degree in Science from the University of Aston, Birmingham, UK
DIN No.:	00016184

KEY EXECUTIVES

Name :	Ms. Neha Bhandari
Designation :	Head of Corporate Finance

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.03.2015

Category of Shareholder	No. of Shares	% of Holdings
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	445496	0.02
Bodies Corporate	121740	0.00
Sub Total	567236	0.02
(2) Foreign
Bodies Corporate	1764165424	64.31
Sub Total	1764165424	64.31
Total shareholding of Promoter and Promoter Group (A)	1764732660	64.33
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	40583841	1.48
Financial Institutions / Banks	98699311	3.60
Central Government / State Government(s)	1680	0.00
Insurance Companies	28611503	1.04
Foreign Institutional Investors	514280291	18.75
Sub Total	682176626	24.87
(2) Non-Institutions
Bodies Corporate	78075520	2.85
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	145750271	5.31
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	17665216	0.64
Any Others (Specify)	54962158	2.00
Non Resident Indians	4322392	0.16
Trusts	46693809	1.70
Foreign Nationals	5400	0.00
Clearing Members	975006	0.04
Foreign Bodies - D R	2957757	0.11
Foreign Corporate Bodies	7794	0.00
Sub Total	296453165	10.81
Total Public shareholding (B)	978629791	35.67
Total (A)+(B)	2743362451	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued
(1) Promoter and Promoter Group	99292708	0.00
(2) Public	122039080	0.00
Sub Total	221331788	0.00
Total (A)+(B)+(C)	2964694239	0.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of iron ore mining, non-ferrous metals (copper and aluminum production) and commercial power generation.

Products :

Item Code No.	Product Description
26011100	Iron Ore
89011004	Vessels
27040009	Metallurgical coke

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

GENERAL INFORMATION

Suppliers :

Not Divulged

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Not Divulged

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

Information declined by the management

Bankers :

· Canara Bank

· State Bank of India

· ICICI Bank Limited

· Kotak Mahindra Bank

· Yes Bank Limited

· Standard Chartered Bank India

· DBS Bank India

HDFC Bank Limited, 1-16, Jaypee House, Opposite Patel Petrol Pump, Vapi Silvasa Road, Dadra Nagar Haveli, Silvassa

Facilities :

(Rs. In Million)

Secured Loan	31.03.2015 (Rs. in Million)	31.03.2014 (Rs. in Million)
Long-term Borrowings
Redeemable Non-Convertible Debentures	72000.000	58333.300
Term loans from banks	125597.500	112895.600
Foreign currency loans from banks	18777.200	32727.600
Short-term borrowings
Buyers' credit from banks	48143.800	50520.400
Loans repayable on demand from banks	0.000	30.100
Term loan from banks	0.000	10000.000
Total	48143.800	264507.000

NOTE: LONG TERM BORRWING Redeemable Non-convertible Debentures (NCD’s) includes : i) 9.10% NCDs issued by the Company of RS. 25000.000 Million. These NCDs are secured by way of mortgage on the immovable property of the Company situated at Tuticorin in the State of Tamilnadu and also by way of first ranking pari-passu charge over the tangible and intangible movable fixed assets, both present and future of Jharsuguda 2,400 MW power plant with a security cover of 1.25 times on the face value of outstanding NCDs at all times during the tenure of the NCDs. These NCDs are redeemable on April 5, 2023. The debenture holders of these NCDs and the Company have put and call option at the end of the 5 years from the respective date of the allotment of the NCDs. ii) NCDs issued by the Company for an aggregate amount of Rs. 20000.000 Million. Out of these, Rs. 10000.000 Million NCDs are issued at a coupon rate of 9.40% per annum, while another Rs. 10000.000 Million NCDs have been issued at a coupon rate of 9.24% per annum. These NCDs are secured by way of mortgage on the immovable property of the Company situated at Sanaswadi in the State of Maharashtra and also by way of hypothecation on the movable fixed assets of Jharsuguda 2,400 MW power plant with a security cover of 1.25 times on the face value of outstanding NCDs at all times during the currency of NCDs. These NCDs are redeemable in tranches of Rs. 5000.000 Million each on December 20, 2022, December 6, 2022, November 27, 2022 and October 25, 2022. In respect of all the four tranches of NCDs, the debenture holders and the Company have put and call option respectively at the end of the 5 years from the respective date of the allotment of the NCDs. iii) 11.50% Non-convertible Debentures (NCDs) issued by Aluminium division of Rs. 1333.300 Milion [including current maturity of long-term borrowings (Refer note no. 10)] are secured by first pari-passu charge in favour of Debenture Trustees on the immovable properties situated at Mauje Ishwarpura, Taluka Kadi, District Mehsana, Gujarat and in the District of Kalahandi, Orissa. These NCDs are further secured by first pari passu charge over the fixed assets of 1MTPA Lanjigarh Alumina Refinery. These NCDs are redeemable on October 22, 2015. iv) NCDs issued by the Company of Rs. 12000.000 Million in two tranches of Rs. 7500.000 Million and Rs. 4500.000 Million, with an interest rate of 9.17% per annum. These NCDs are secured by way of mortgage on the immovable property of the Company situated at Tuticorin in the State of Tamilnadu and also by way of first pari passu charge over the movable fixed assets of Lanjigarh refinery expansion project including 210 MW power plant project, with a security cover of 1.25 times on the face value of outstanding NCDs at all times during the tenure of the NCD. These NCDs are redeemable on July 4, 2023 for Rs. 7500.000 Million and on July 5, 2023 for Rs. 4500.000 Million. The debenture holders of these NCDs and the Company have put and call option at the end of the 5 years from the respective date of the allotment of the NCDs. v) 9.36% NCDs of Rs. 15000.000 Million issued by Iron ore division in two tranches of Rs. 9750.000 Million and Rs. 5250.000 Million during the current year. These NCDs are redeemable in two instalments of Rs. 9750.000 Million and Rs. 5250.000 Million payable on October 30, 2017 and December 30, 2017 respectively. These NCDs are secured by way of mortgage on the immovable property of the Company situated at Tuticorin in the State of Tamilnadu and also by way of first ranking pari passu charge over “movable fixed assets” in relation to the Company’s Iron Ore business (Pig Iron and Met Coke assets) and power plant assets located in Goa and the Copper plant assets located at Tuticorin with a security cover of 1.25 times on the face value of outstanding NCDs at all times during the tenure of the NCDs. Term loans from banks includes : i) Loan from State Bank of India taken by Aluminium division amounting to Rs. 43325.000 Million [including current maturity of long term borrowings Rs. 1875.000 Million (Refer note no. 10)] at an interest rate of 10.60% per annum. The loan is secured by (i) first pari-passu charge by way of hypothecation of all present and future movable fixed asset of Aluminium division, and (ii) first pari-passu charge by way of mortgage on all present and future immovable fixed asset (including leasehold land, if any) acquired or to be acquired for the Aluminium division. The loan is repayable as Rs. 1875.000 Million within one year, Rs. 2500.000 Million within second year, Rs. 20000.000 Million within third to fifth year and Rs. 18950.000 Million after fifth year. ii) Loan of Rs. 2500.000 Million taken by Aluminium division from Axis Bank at an interest rate of 10.40% per annum. The loan is secured by (i) first pari-passu charge by way of hypothecation of all present and future movable fixed asset of Aluminium division, and (ii) first pari-passu charge by way of mortgage on all present and future immovable fixed asset (including leasehold land, if any) acquired or to be acquired for the Aluminium division.The loan is repayable as Rs. 750.000 Million in February 2017, Rs. 875.000 Million in February 2018 and Rs. 875.000 Million in February 2019. iii) Loan of Rs. 2500.000 Million taken by Aluminium division from Vijaya Bank at an interest rate of 10.50% per annum. The loan is secured by (i) first pari passu charge by way of hypothecation of all present and future movable fixed asset of Aluminium division, and (ii) first pari passu charge by way of mortgage on all present and future immovable fixed asset (including leasehold land, if any) acquired or to be acquired for the Aluminium division. The loan is repayable as Rs. 750.000 Million in February 2017, Rs. 875.000 Million in February 2018 and Rs. 875.000 Million in February 2019. iv) Loan of Rs. 5000.000 Million taken by Aluminium division from Corporation Bank at an interest rate of 10.50% per annum. The loan is secured by (i) first pari passu charge by way of hypothecation of all present and future movable fixed asset of Aluminium division, and (ii) first pari passu charge by way of mortgage on all present and future immovable fixed asset (including leasehold land, if any) acquired or to be acquired for the Aluminium division.The loan is repayable as Rs. 1500.000 Million in February 2017, Rs. 1750.000 Million in February 2018 and Rs. 1750.000 Million in February 2019. v) Loan of Rs. 5000.000 Million taken by Aluminium division from Bank of India at an interest rate of 10.50% per annum. The loan is secured by (i) first pari passu charge by way of hypothecation of all present and future movable fixed asset of Aluminium division, and (ii) first pari passu charge by way of mortgage on all present and future immovable fixed asset (including leasehold land, if any) acquired or to be acquired for the Aluminium division.The loan is repayable as Rs. 1500.000 Million in February 2017, Rs. 1750.000 Million in February 2018 and Rs. 1750.000 Million in February 2019. vi) Loan of Rs. 5000.000 Million taken by Aluminium division from Syndicate Bank at an interest rate of 10.50% per annum. The loan is secured by (i) first pari passu charge by way of hypothecation of all present and future movable fixed asset of Aluminium division, and (ii) first pari passu charge by way of mortgage on all present and future immovable fixed asset (including leasehold land, if any) acquired or to be acquired for the Aluminium division.The loan is repayable as Rs. 1500.000 Million in February 2017, Rs. 1750.000 Million in February 2018 and Rs. 1750.000 Million in February 2019. vii) Loan from Union Bank of India taken by Aluminium division amounting to Rs. 9850.000 Million [including current maturity of long-term borrowings Rs. 1000.000 Million (Refer note no. 10)] at an interest rate of 10.40% per annum. The loan is secured by (i) first pari-passu charge by way of hypothecation of all present and future movable fixed asset of Aluminium division, and (ii) first pari passu charge by way of mortgage on all present and future immovable fixed asset (including leasehold land, if any) acquired or to be acquired for the Aluminium division. The loan is repayable as Rs. 1000.000 Million within one year, Rs. 1400.000 Million within second year, Rs. 6600.000 Million within third to fifth year and Rs. 850.000 Million after fifth year. viii) Loan from Bank of India taken by Aluminium division amounting to Rs. 19050.000 Million [including current maturity of long-term borrowings Rs. 2000.000 Million (Refer note no. 10)] at an interest rate of 10.50% per annum. The loan is secured by (i) first pari passu charge by way of hypothecation of all present and future movable fixed asset of Aluminium division, and (ii) first pari passu charge by way of mortgage on all present and future immovable fixed asset (including leasehold land, if any) acquired or to be acquired for the Aluminium division.The loan is repayable as Rs. 2000.000 Million within one year, Rs. 2800.000 Million within second year, Rs. 13200.000 Million within third to fifth year and Rs. 1050.000 Million after fifth year. ix) Loan from Syndicate Bank taken by Aluminium division amounting to Rs. 10147.500 Million [including current maturity of long-term borrowings Rs. 1025.000 Million (Refer note no. 10)] at an interest rate of 10.50% per annum. The loan is secured by (i) first pari passu charge by way of hypothecation of all present and future movable fixed asset of Aluminium division, and (ii) first pari passu charge by way of mortgage on all present and future immovable fixed asset (including leasehold land, if any) acquired or to be acquired for the Aluminium division. The loan is repayable as Rs. 1025.000 Million within one year, Rs. 1435.000 Million within second year, Rs. 6765.000 Million within third to fifth year and Rs. 922.500 Million after fifth year. x) Loan from Bank of Baroda taken by Aluminium division amounting to Rs. 19800.000 Million [including current maturity of long-term borrowings Rs. 2000.000 Million (Refer note no. 10)] at an interest rate of 10.50%. The loan is secured by (i) first pari passu charge by way of hypothecation of all present and future movable fixed asset of Aluminium division, and (ii) first pari passu charge by way of mortgage on all present and future immovable fixed asset (including leasehold land, if any) acquired or to be acquired for the Aluminium division. The loan is repayable as Rs. 2000.000 Million within one year, Rs. 2800.000 Million within second year, Rs. 13200.000 Million within third to fifth year and Rs. 1800.000 Million after fifth year. xi) Loan from State Bank of Bikaner and Jaipur taken by Aluminium division amounting to Rs. 4950.000 Million [including current maturity of long-term borrowings Rs. 500.000 Million (Refer note no. 10)] at an interest rate of 10.50% per annum. The loan is secured by (i) first pari passu charge by way of hypothecation of all present and future movable fixed asset of Aluminium division, and (ii) first pari passu charge by way of mortgage on all present and future immovable fixed asset (including leasehold land, if any) acquired or to be acquired for the Aluminium division.The loan is repayable as Rs. 500.000 Million within one year, Rs. 700.000 Million within second year, Rs. 3300.000 Million within third to fifth year and Rs. 450.000 Million after fifth year. xii) Loan of Rs. 9375.000 Million [including Rs. 2500.000 Million of current maturity of long-term borrowings (Refer note no. 10)] taken during the year by Jharsuguda 2,400 MW power plant from Canara Bank at an interest rate of 10.50 % per annum. The loan is secured by way of second pari passu charge on specific fixed assets of Jharsuguda 2,400 MW power plant except agricultural land. The loan is repayable in fifteen equal quarterly instalments of Rs. 625.000 Million each Foreign currency loans from banks includes : External Commercial Borrowings (“ECB”) of Aluminium division aggregating Rs. 34084.100 Million (US$ 544.55 million) [including current maturity of long-term borrowings Rs. 15306.900 Million (Refer note no 10)] in two tranches at an interest rate of LIBOR plus 170 basis points for Rs. 31295.400 Million (US$ 500.00 million) and LIBOR plus 129 basis points for Rs. 2788.700 Million (US$ 44.55 million). The ECB on US$ 500 million is payable in three annual instalments on April 21, 2015 and April 21, 2016 for US$ 200 million each and on April 21, 2017 for US$ 100 million. The loan of US$ 44.55 million is due on July 24, 2015. The ECB is secured by all present and future movable asset of Aluminium division including its movable plant and machinery, equipment, machinery, spare tools and accessories and other movable whether installed or not and all replacements thereof and additions thereof whether by way of substitution, addition, replacement, conversion or otherwise howsoever together with all benefits, rights and incidental attached thereto which are now owned or to be owned in the future by the borrower.

Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	Tower 3, 27^th - 32^nd Floor, Indiabulls Finance Centre, Eiphinstone Mill Compound, Senapati Bapat Marg, Elphinstone (West), Mumbai – 400013, Maharashtra, India
Tel. No.:	91-22-61854000
Fax No.:	91-22-61854501/4601

Memberships :	--

Collaborators :	--

Entities Controlling the Company (Holding Companies):	· Volcan Investments Limited (Ultimate Holding Company) · Vedanta Resources Plc (Intermediate Holding Company) · Vedanta Resources Holdings Limited (Intermediate Holding Company) · Richter Holding Limited (Intermediate Holding Company) · Vedanta Resources Finance Limited (Intermediate Holding Company) · Vedanta Resources Cyprus Limited (Intermediate Holding Company) · Twin Star Holdings Limited (Intermediate Holding Company) · Finsider International Company Limited · (Intermediate Holding Company) · Westglobe Limited (Intermediate Holding Company) · Welter Trading Limited (Intermediate Holding Company)

Fellow Subsidiaries	· Konkola Copper Mines Plc · The Madras Aluminium Company Limited* (Fellow Subsidiary upto August 17, 2014) · Sterlite Technologies Limited · Sterlite Grid Limited · Sterlite Iron and Steel Company Limited · Sterlite Industries (India) Limited*

Associates:	· Gaurav Overseas Private Limited · Raykal Aluminium Company Private Limited

Subsidiaries:	· Hindustan Zinc Limited (Previous Year: Fellow Subsidiary) · Bharat Aluminium Company Limited (Previous Year: Fellow Subsidiary) · Malco Energy Limited (Earlier Vedanta Aluminium Limited) (Previous Year: Fellow Subsidiary) · Copper Mines of Tasmania Pty Limited (CMT) · Thalanga copper mines Pty Limited (TCM) · Sterlite Infra Limited (SIL) · Monte Cello B.V. (MOBV) · Talwandi Sabo Power Limited (TSPL) (Previous Year: Fellow Subsidiary) · Sesa Resources Limited (‘SRL’) · Sesa Mining Corporation Limited (‘SMCL’) · Goa Energy Limited · Bloom Fountain Limited (‘BFL’) · Twin Star Energy Holdings Limited (‘TEHL’) · (Previous Year: Fellow Subsidiary) · Twin Star Mauritius Holdings Limited (‘TMHL’) (Previous Year: Fellow Subsidiary) · Western Cluster Limited · Sterlite (USA) Inc. · Fujairah Gold FZC · THL Zinc Ventures Limited · THL Zinc Limited · THL Zinc Holding B.V. · THL Zinc Namibia Holdings (Proprietary) Limited · Skorpion Zinc (Proprietary) Limited · Skorpion Mining Company (Proprietary) Limited · Namzinc (Proprietary) Limited · Amica Guesthouse (Proprietary) Limited · Rosh Pinah Health Care (Proprietary) Limited · Black Mountain Mining (Proprietary) Limited (Previous Year: Fellow Subsidiary) · Vedanta Lisheen Holdings Limited (earlier Vedanta Lisheen Finance Limited) · Vedanta Lisheen Mining Limited · Killoran Lisheen Mining Limited · Killoran Lisheen Finance Limited · Lisheen Milling Limited · Vedanta Exploration Ireland Limited (Date of Incorporation - May 16, 2013) · Sterlite Ports Limited · Maritime Ventures Private Limited · Sterlite Infraventures Limited · Pecvest 17 Proprietary Limited · Vizag General Cargo Berth Private Limited (Previous Year: Fellow Subsidiary) · Paradip Multi Cargo Berth Private Limited · Lakomasko B.V. · Cairn India Limited @ · Cairn India Holdings Limited @ · Cairn Energy Holdings Limited @ · Cairn Energy Hydrocarbons Limited @ · Cairn Exploration Limited @ · Cairn Exploration Limited @ · Cairn Exploration Limited @ · Cairn Energy Gujarat Block 1 Limited @ · Cairn Energy Discovery Limited @ · Cairn Energy Cambay B.V. @ · Cairn Energy India West B.V. @ · Cairn Energy Gujarat B.V.@ · Cairn Energy Netherlands Holdings B.V. @ · Cairn Energy Australia Pty Limited @ · Cairn Energy India Pty Limited @ · CEH Australia Limited @ · CIG Mauritius Holdings Private Limited @ · CIG Mauritius Private Limited @ · Cairn Lanka Private Limited @ · Cairn South Africa Proprietary Limited @ · Cairn Energy Investments Australia Pty Limited @1 · Wessington Investments Pty Limited @1 · Sydney Oil Company Pty Limited @1 · Cairn Exploration (No.4) Limited @1 · Cairn Petroleum India Limited @1 · Cairn Energy India Holdings B.V. @1 · Cairn Energy Group Holdings B.V. @1 · Cairn Energy Gujarat Holding B.V @1 · Cairn Energy India West Holdings B.V. @1 · Cairn Energy Cambay Holding B.V. @1 · CEH Australia Pty Limited @1 · Cairn Energy Asia Pty Limited @1

Others:	· Vedanta Foundation · Sesa Community Development Foundation · Public and Political Awareness Trust · Rampia Coal Mines and Energy Private Limited (Jointly Controlled Entity) · Goa Maritime Private Limited (Jointly Controlled Entity)
NOTE: * Ceases to be related party for the Company pursuant to the Scheme of Amalgamation (Refer note no 31) @ Subsidiary w.e.f. August 26, 2013 (Previous Year: Associate) 1 Dissolved during the year $ Appointed as Chief Executive Officer w.e.f. April 1, 2014 # Appointed as Whole Time Director & Chief Financial Officer w.e.f. April 1, 2014

CAPITAL STRUCTURE

AS ON 31.03.2015

Authorised Capital :

No. of Shares	Type	Value	Amount

51260000000	Equity Shares	Rs.1/- each	Rs. 51260.000 Millions
10100000	Add: Pursuant to the Scheme of Amalgamation		Rs. 10.100 Millions

	Total		Rs. 51270.100 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

2965004871	Equity Shares	Rs.1/- each	Rs. 2965.000 Millions
--	Add: Issued pursuant to the Scheme of Amalgamation *

	Total		Rs. 2965.000 Millions

NOTE:

* includes 310,632 (Previous year 330,384) equity shares kept in abeyance. These shares are not part of listed equity capital.

Shares held by ultimate holding company and its subsidiaries/associates

Particulars	March 31, 2015
	Number of Shares	% of Holding
Twinstar Holdings Limited	1280084749	43.18
Twin Star Holdings Limited	99292708	3.35
Finsider International Company Limited	401496480	13.54
West Globe Limited	44343139	1.50
Welter Trading Limited	38241056	1.29
Total	1863458132	62.86

(1) All the above entities are subsidiaries of Volcan Investments Limited, the ultimate holding company

(2) Represented by 24,823,177 American Depository Shares (“ADS”).

Aggregate number of bonus shares issued, shares issued for consideration other than cash and shares bought back during the period of five years immediately preceding the reporting date

Particulars

March 31, 2015

Number of

Shares

Equity shares issued during the year pursuant to Schemes of Amalgamation

2095903448

Equity shares allotted as fully paid-up shares for consideration other than cash pursuant to the Scheme of Amalgamation (in FY 2010-11)

9398864

Details of shareholders holding more than 5% shares in the Company other than as shown in (C) above

Particulars	March 31, 2015
	Number of Shares	% of Holding
Twinstar Holdings Limited	128084749	43.18
Twinstar Holdings Limited	99292708	3.35
Finsider International Company Limited	401496480	13.54
CITI Bank N. A. New York# (American depository shares held as depository)	122039080	4.12

# 24,823,177 ADS, held by CITI Bank N.A. New York as a depository.

@ Excludes ADS held on behalf of Twin Star Holdings Limited

OTHER DISCLOSURES

(1) The Company has one class of equity shares having a par value of Rs. 1 per share. Each shareholder is eligible for one vote per share held and dividend as and when declared by the Company. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend which is paid as and when declared by the Board of Directors. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts, in proportion to their shareholding.

(2) ADS shareholders do not have right to attend General meetings in person and also do not have right to vote. They are represented by depository, CITI Bank N.A. New York. As on March 31, 2015, 221,331,788 equity shares were held in the form of 55,332,947 ADS.

(3) In terms of Scheme of Arrangement as approved by the Hon’ble High Court of Judicature at Mumbai, vide its order dated April 19, 2002 the erstwhile Sterlite Industries (India) Limited during 2002-2003 reduced its paid up share capital by Rs. 100.300 Million. There are 219,214 equity shares of Rs. 1 each pending clearance from NSDL/CDSL. The Company has filed application in Hon’ble High Court of Mumbai to cancel these shares, the final decision on which is pending. Hon’ble High Court of Judicature at Mumbai, vide its interim order dated September 06, 2002 restrained any transaction with respect to subject shares.

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015	31.03.2014	31.03.2013

I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	2965.000	2965.000	869.100
(b) Reserves & Surplus	337613.700	333823.200	129368.800
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	340578.700	336788.200	130237.900

(3) Non-Current Liabilities
(a) long-term borrowings	217706.300	205342.200	11791.600
(b) Deferred tax liabilities (Net)	0.000	0.000	104.000
(c) Other long term liabilities	2025.900	3933.300	23.200
(d) long-term provisions	18.100	22.600	18.100
Total Non-current Liabilities (3)	219750.300	209298.100	11936.900

(4) Current Liabilities
(a) Short term borrowings	131137.200	132340.900	36519.100
(b) Trade payables	28788.100	24554.200	2443.000
(c) Other current liabilities	55291.900	123752.700	2807.400
(d) Short-term provisions	9797.800	8162.700	408.800
Total Current Liabilities (4)	225015.000	288810.500	42178.300

TOTAL	785344.000	834896.800	184353.100

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	219877.000	224889.000	14685.700
(ii) Intangible Assets	1381.600	951.300	860.200
(iii) Capital work-in-progress	174221.600	173273.300	3633.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	260883.000	224191.100	145658.600
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	33192.200	99055.200	4548.900
(e) Other Non-current assets	703.900	1044.000	0.000
Total Non-Current Assets	690259.300	723403.900	169386.400

(2) Current assets
(a) Current investments	3762.700	3480.800	1277.000
(b) Inventories	54420.700	56787.000	7560.200
(c) Trade receivables	11576.900	13036.500	1404.400
(d) Cash and cash equivalents	4641.400	21103.600	248.800
(e) Short-term loans and advances	17357.800	12834.400	2924.400
(f) Other current assets	3325.200	4250.600	1551.900
Total Current Assets	95084.700	111492.900	14966.700

TOTAL	785344.000	834896.800	184353.100

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015	31.03.2014	31.03.2013
	SALES
	Income	325024.100	285365.300	23476.300
	Other Income	20088.600	18170.600	3419.900
	TOTAL (A)	345112.700	303535.900	26896.200

Less	EXPENSES
	Cost of Materials Consumed	188496.900	179455.900	2245.900
	Purchases of Stock-in-Trade	9984.600	8192.500	1057.800
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	2638.000	(5568.600)	(2057.700)
	Power and Fuel	44330.500	46736.700	5574.800
	Employees benefits expense	6501.300	5590.800	1846.200
	Exchange Loss/Gain	8.100	0.000	0.000
	Other expenses	26778.300	27838.800	11390.800
	Exceptional item	24.300	1308.800	97.100
	TOTAL (B)	278762.000	263554.900	20154.900

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	66350.700	39981.000	6741.300

Less	FINANCIAL EXPENSES (D)	36559.300	35649.600	4692.300

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	29791.400	4331.400	2049.000

Less	DEPRECIATION/ AMORTISATION (F)	10116.700	15047.900	1479.100

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	19674.700	(10716.500)	569.900

Less	TAX (I)	402.700	(21477.400)	(637.800)

	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	19272.000	10760.900	1207.700

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	9870.500	20677.000	19621.000

Add	TRANSFERRED ON AMALGAMATION OF SESA INDUSTRIES LIMITED	0.000	150.000	0.000

Add	PURSUANT TO THE SCHEME OF AMALGAMATION	0.000	(7747.900)	0.000

	APPROPRIATIONS
	Transferred to debenture redemption reserve	NA	3183.700	0.000
	Interim dividend [dividend per share Rs.1.50/-]	NA	4447.000	0.000
	Proposed dividend [dividend per share Rs.1.75/- (Previous year Rs.0.10/-)]	NA	5188.800	86.900
	Tax on Proposed dividend (net of dividend received from subsidiary u/s 115 O of Income-tax Act, 1961)	NA	0.000	14.800
	Transferred to general reserve	NA	1150.000	50.000
	Balance Carried to the B/S	29142.500	9870.500	20677.000

	EARNINGS IN FOREIGN CURRENCY
	Export Earnings	144238.000	126859.600	12125.900
	Management fees	23.500	21.100	0.000
	Dispatch money	NA	0.000	30.800
	Sale of Carbon Credits	NA	0.000	27.600
	Other services	NA	0.000	0.500
	Others (ADS Reimbursement from CITI)	30.300	71.500	0.000
	TOTAL EARNINGS	144291.800	126952.200	12184.800

	IMPORTS
	Raw Materials	176602.300	176026.700	0.000
	Components and spare parts	939.800	750.100	3518.400
	Fuel (including in transit)	13123.300	10913.700	205.700
	Capital Goods	113.000	313.900	1115.900
	TOTAL IMPORTS	190778.400	188004.400	4840.000

	Earnings / (Loss) Per Share (Rs.)	6.50	3.67	1.39

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

Cash generated from operations

QUARTERLY RESULTS

Particulars (Rs. In Million)	Jun 2014	Sep 2014	Dec 2014
Unaudited	Unaudited	Unaudited	Unaudited
Net Sales	71358.000	87352.500	86315.500
Total Expenditure	62493.600	74346.900	71811.400
PBIDT (Excl OI)	8864.400	13005.600	14504.100
Other Income	6685.800	10245.000	676.200
Operating Profit	15550.200	23250.600	15180.300
Interest	9853.300	9964.200	8515.700
Exceptional Items	0.000	(24.300)	0.000
PBDT	5696.900	13262.100	6664.600
Depreciation	3994.500	4024.200	4070.800
Profit Before Tax	1702.400	9237.900	2593.800
Tax	0.000	0.000	0.000
Provisions and contingencies	0.000	0.000	0.000
Profit After Tax	1702.400	9237.900	2593.800
Extraordinary Items	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000
Net Profit	1702.400	9237.900	2593.800

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	5.93	3.77	5.14

Operating Profit Margin (PBIDT/Sales)	(%)	20.41	14.01	28.72

Return on Total Assets (PBT/Total Assets}	(%)	5.62	(2.45)	1.63

Return on Investment (ROI) (PBT/Networth)		0.06	(0.03)	0.00

Debt Equity Ratio (Total Debt /Networth)		1.02	1.00	0.37

Current Ratio (Current Asset/Current Liability)		0.42	0.39	0.35

STOCK PRICES

Face Value	Rs. 1.00/-
Market Value	Rs. 173.00/-

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	869.100	2965.000	2965.000
Reserves & Surplus	129368.800	333823.200	337613.700
Share Application money pending allotment	0.000	0.000	0.000
Net worth	130237.900	336788.200	340578.700

long-term borrowings	11791.600	205342.200	217706.300
Short term borrowings	36519.100	132340.900	131137.200
Current Maturities of Long Term Debt	0.000	0.000	0.000
Total borrowings	48310.700	337683.100	348843.500
Debt/Equity ratio	0.371	1.003	1.024

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	23476.300	285365.300	325024.100
		1,115.546	13.898

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	23476.300	285365.300	325024.100
Profit	1207.700	10760.900	19272.000
	5.14%	3.77%	5.93%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	-----
6	Contact numbers	Yes
7	Name of the person contacted	No
8	Designation of contact person	No
9	Promoter’s background	No
10	Date of Birth of Proprietor / Partners / Directors	No
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	----
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	-----
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	Yes
33	Market information	-----
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

LITIGATION DETAILS:

Reg. No. :- WP / 467 / 2012

Stamp No. :- STM / 1154/ 2012

Case Status :

Pending (Final Hearing)

Petitioner :

THE COMMISSIONER OF INCOME TAX

Respondent :

M/S. SESA GOA LTD.

Petitoner Adv. :

SHIVRAJ GAONKAR

District :

North Goa

Bench :

Single

Act :

Consitution of India

Category :

OTHERS (W.P.)

Case Stage :

FOR ADMISSION – AFTER NOT

Hearing Date : 29 August 2012

Application Maters	Connected Maters
No application matters	No connected matter

This Case is updated on : 26 May 2015

INDEX OF CHARGES

S.no.	Charge id	Date of charge creation/modification	Charge amount secured	Charge holder	Address	Service request number (SRN)
1	10510114	21/07/2014	50,000,000,000.00	SBICAP TRUSTEE COMPANY LIMITED	202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA	C12127023
2	10497008	15/04/2014	5,000,000,000.00	STATE BANK OF BIKANER AND JAIPUR	COMMERCIAL NETWORK BRANCH, 239, P DE MELLO ROAD, NEAR G.P.O, MUMBAI, MAHARASHTRA - 400001, INDIA	C05304654
3	10470762	07/08/2014 *	20,000,000,000.00	AXIS TRUSTEE SERVICES LIMITED	AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND,, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA	C16284358
4	10467271	25/03/2014 *	10,000,000,000.00	AXIS TRUSTEE SERVICES LIMITED	AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA	C05299433
5	10464741	23/12/2013 *	12,000,000,000.00	AXIS TRUSTEE SERVICES LIMITED	AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA	B94118395
6	10449511	04/03/2014 *	10,000,000,000.00	AXIS TRUSTEE SERVICES LIMITED	AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA	B98559131
7	10437388	27/09/2013 *	25,000,000,000.00	AXIS TRUSTEE SERVICES LIMITED	AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA	B86679446
8	10419764	15/04/2013	20,000,000,000.00	AXIS TRUSTEE SERVICES LIMITED	AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARAS HTRA - 400025, INDIA	B73207797
9	10403083	21/01/2013	20,000,000,000.00	AXIS TRUSTEE SERVICES LIMITED	AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA	B67744896
10	10378088	04/09/2012	7,500,000,000.00	STATE BANK OF INDIA	C.A.G. MUMBAI, NEVILLE HOUSE, J.N.HEREDIA MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA	B58717232
11	10285311	21/04/2011 *	6,250,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, PATTO PLAZA, PANAJI, GOA - 403001, INDIA	B13742978
12	10276869	19/03/2011	1,600,000,000.00	IDBI BANK LIMITED	IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA	B09556101
13	10268621	26/07/2012 *	4,000,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA	B56079197
14	10217878	15/04/2010	1,000,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	A85366698
15	10291966	07/01/2010	1,000,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, STATE BANK STAFF TRAINING CENTRE BLDG., PANAJI, GOA - 403001, INDIA	A86441441
16	10291957	07/12/2009	380,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, STATE BANK LEARNING CENTRE BLDG., PANAJI, GOA - 403001, INDIA	A83231258
17	10033074	22/03/2013 *	174,500,000.00	THE ROYAL BANK OF SCOTLAND N.V	4 NORTH AVENUE, MAKER MAXITY, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA	B72817687
18	10033075	22/03/2013 *	2,000,000,000.00	DEUTSCHE BANK AG	HAZARIMAN SOMANI MARG, MUMBAI, MAHARASHTRA - 400001, INDIA	B72933484
19	10024200	22/03/2013 *	2,100,000,000.00	CITI BANK N.A.	CITIBANK CENTER, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA	B72499650
20	10027283	22/03/2013 *	2,700,000,000.00	STANDARD CHARTERED BANK	19, RAJAJI SELAI, CHENNAI, TAMIL NADU - 600001, INDIA	B72486723
21	10033069	22/03/2013 *	4,000,000,000.00	STATE BANK OF INDIA	CORPORATE ACCOUNTS GROUP BRANCH, NEVILLE HOUSE, J .N. HEREDIA MARG, MUMBAI, MAHARASHTRA - 400001, INDIA	B73025850
22	10024856	22/03/2013 *	5,000,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA	B72499031
23	10020828	22/03/2013 *	8,000,000,000.00	IDBI BANK LIMITED	IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA	B72463979
24	10026057	22/03/2013 *	17,000,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	B72487580
25	80064579	21/01/2012 *	1,000,000,000.00	ICICI BANK LIMITED	ICICI BANK TOWERS,, BANDRA KURLA COMPLEX,BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA	B31675275
26	90001523	09/10/2003	1,150,000,000.00	ICICI BANK LTD.	LANDMARK, RACE COURSE CIRCLE, VADODARA, GUJARAT - 390007, INDIA	-
27	90144569	05/07/2003	2,500,000,000.00	WESTERN INDIA TRUSTEE AND EXECUTOR COMPANY LIMITED	161/C MITTAL COURT, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA	-
28	90144006	15/07/2002	2,500,000,000.00	ICICI BANK LIMITED	RACE COURSE CIRCLE, VADODARA, MAHARASHTRA - 390007, INDIA	-
29	90001135	27/11/2000	245,000,000.00	HDFC BANK LTD.	169-A; ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA	-
30	90065050	07/06/2004 *	463,000,000.00	CANARA BANK	PANJIM GOA, PANJIM, GOA, INDIA	-
31	90001092	23/07/2000	300,000,000.00	ICICI BANK LTD.	110; MAHATMA GANDHI SALAI, NUNGAMBAKKAM, MADRAS, TAMILNADU - 600034, INDIA	-
32	90065022	28/06/2000 *	250,000,000.00	ICICI LTD.	ICICI TOWERS, BANDRA KURLA COMPLEX; BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA	-
33	90000952	14/06/1999	100,000,000.00	THE HDFC BANK LTD.	169 A; ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA	-
34	90000899	25/11/2004 *	25,000,000.00	HDFC BANK LTD.	ITC CENTRE; 759 ANNA SALAI, CHENNAI, TAMILNADU - 600002, INDIA	-
35	90000854	17/06/1998	20,000,000.00	THE HDFC BANK LTD.	169 A. ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA	-
36	90064966	25/10/1989 *	15,000,000.00	STANDAED CHARTERED BANK	VASCO DA GAMAM, GOA, GOA - 403001, INDIA	-
37	90065476	16/07/1997 *	15,000,000.00	CANARA BANK	VASCO DA GAMA, GOA, GOA, INDIA	-
38	90065462	15/03/1995	33,218,262.00	CANARA BANK	PANJIM, GOA, GOA, INDIA	-
39	90065255	30/03/2004 *	76,800,000.00	CANARA BANK	PANAJI, PANAJI, GOA, INDIA	-
40	90064930	12/04/1994	770,000.00	ICICI BANK LTD	141; MAKER TOWERS "F" ; CUFFE PARADE, BOMBAY, MAHARASHTRA, INDIA	-
41	90065232	04/04/1995 *	15,000,000.00	STANDARD CHARTRED BANK	VASCO DA GAMA, VASCO DA GAMA, GOA, INDIA	-
42	90064883	15/05/1991 *	648,270.00	THE INDUSTRIAL CREDIT AND INVESTMENT CORPORATION O F INDIA LT	163; BACKBAY; RECLAMTION, BOMBAY, MAHARASHTRA - 400020, INDIA	-
43	90064873	15/05/1991 *	37,000,000.00	INDUSTRIAL FINANCE CORPO. OF INDIA	BANK OF BARODA BUILDING, 16;SANSAD MARG, NEW DELHI, DELHI - 110001, INDIA	-
44	90064858	01/11/1990 *	14,900,000.00	STATE BANK OF INDIA	PANJIM GOA, PANJIM, GOA, INDIA	-
45	90065417	02/08/1993 *	14,900,000.00	STATE BANK OF INDIA	PANJIM, PANJIM, GOA, INDIA	-
46	90065211	21/12/1988	6,750,000.00	CANARA BANK	PANJIM GOA, PANJIM OA, GOA, INDIA	-
47	90000162	29/04/1987	12,443,000.00	INDIAN BANK	PATULLOS ROAD BRANCH, MADRAS, TAMIL NADU, INDIA	-
48	90065405	18/02/2011 *	3,130,000,000.00	CANARA BANK	MATHISA PLAZA, GROUND FLOOR, 18TH JUNE ROAD, PANAJI, GOA - 403001, INDIA	B08309106
49	90065199	15/12/1996 *	46,200,000.00	CANARA BANK	PANJIM GOA, PANJIM, GOA - 403001, INDIA	-
50	90000017	03/04/1973	3,342,263.00	THE INDUSTRIAL CREDIT AND INVEST. CORPN. OF INDIA LTD.	163; BACKBAY RECLAMATION, FORT, BOMBAY, MAHARASHTRA, INDIA	-

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2015 (Rs. in Million)	31.03.2014 (Rs. in Million)
Long-term Borrowings
Deferred sales tax liability	1331.600	1385.700
Foreign currency convertible bonds	0.000	0.000
Short-term borrowings
Buyers’ credit from banks	40069.700	20529.600
Commercial paper d	35100.000	32800.000
Loans repayable on demand from banks	140.600	0.000
Loans and advances from related parties	75.200	0.000
Packing credit from banks	7208.400	4914.800
Suppliers’ credit	399.500	13546.000
Total	84325.000	73176.100
NOTE: LONG TERM BORROWING Unsecured Unsecured deferred sales tax liability of Rs. 1385.800 Million [including current maturity of long-term borrowings of Rs. 54.200 Million (Refer note no 10)] outstanding as at March 31, 2015 is currently repayable in monthly instalments till March 2027. The Company has not defaulted in the repayment of loans and interest as at Balance Sheet date. SHORT TERM BORROWING A ) Buyer’s credit from banks (Secured) includes: i) Rs. 18455.400 Million of Aluminium division at an interest rate of LIBOR plus 22- 55 basis points secured by exclusive charge on the assets of Jharsuguda Aluminium imported under facility and first charge on current assets of Aluminium division on pari-passu basis. ii) Rs. 28000.000 Million of Copper India at an interest rate of 0.68% per annum secured by way of first charge by hypothecation on the entire stock of raw materials, work-in-progress and all semi-finished, finished, manufactured articles together with all stores, components and spares, both present and future book debts, outstanding monies, receivables, claims and bills arising out of sale etc. and such charge in favour of the banks ranking pari-passu inter se, without any preferences or priority to one over other(s) in any manner. iii) Rs. 1688.400 Million at the Jharsuguda 2,400 MW power plant at an interest rate ranging from 0.52% to 0.86% per annum secured against first pari passu charge on entire current assets of Jharsuguda 2,400 MW power plant. B) Maximum amount outstanding at any time during the year was Rs. 64850.000 Million (Previous year Rs. 80200.000 Million). C) The Company has not defaulted in the repayment of loans and interest as at Balance Sheet date.

COMPANY OVERVIEW

Vedanta Limited [formerly known as Sesa Sterlite Limited / Sesa Goa Limited] (“Vedanta” or “the Company”) and its consolidated subsidiaries are principally engaged in the business of iron ore mining, non-ferrous metals (copper, aluminium and zinc), commercial power generation and oil and gas. Vedanta’s equity shares are listed on National Stock Exchange and Bombay Stock Exchange in India and its American depository shares (“ADS”) are listed on New York Stock Exchange in United States of America. Each ADS represents four equity shares. Vedanta is majorityowned and controlled subsidiary of Vedanta Resources Plc, the London listed diversified natural resource company

The Company’s oil and gas business is owned and operated by Cairn India Limited (“Cairn”) in which Vedanta has 59.88% interest as at March 31, 2015.

The Company’s zinc India business is owned and operated by Hindustan Zinc Limited (“HZL”) in which it has 64.92% interest as at March 31, 2015.

The Company’s zinc international business comprises Skorpion mine and refinery in Namibia operated through THL Zinc Namibia Holdings (Proprietary) Limited (“Skorpion”), Lisheen mine in Ireland operated through Vedanta Lisheen Holdings Limited (“Lisheen”) and Black Mountain Mining (Proprietary) Limited (“BMM”), whose assets include the Black Mountain mine and the Gamsberg mine project which is in exploration stage, located in South Africa.

The Company’s iron ore business is wholly owned by Vedanta and Sesa Resources Limited and consists of exploration, mining and processing of iron ore, pig iron and metallurgical coke and generation of power. The Company’s iron ore business also comprises Western Cluster Limited (“WCL”) in Liberia which has iron assets and is wholly owned by the Company. WCL’s assets include development rights to Western Cluster and a network of iron ore deposits in West Africa.

The Company’s copper business is owned and operated by Vedanta, Copper Mines of Tasmania Pty Ltd (“CMT”) and Fujairah Gold FZC and is principally one of custom smelting.

The Company’s aluminium business is owned and operated by Vedanta and Bharat Aluminium Company Limited (“BALCO”) in which it has 51% interest as on March 31, 2015. Aluminium business consists of mining of bauxite, manufacture of alumina and various aluminium products and generation of power.

The Company’s power business is owned and operated by Vedanta, Talwandi Sabo Power Limited (“TSPL”), 274 MW of wind power plants commissioned by HZL and 270 MW power plant at BALCO.

The Company’s other activities include mechanization of coal handling facilities and upgradation of general cargo berth for handling coal at the outer harbor of Visakhapatnam Port on the east coast of India and is handled by Vizag General Cargo Berth Private Limited (“VGCB”) and Paradip Multi Cargo Berth Private Limited (“PMCB”), in which the Company owns 99.99% and 74% interest respectively.

Subsequent to the year end, pursuant to the approval of the members of the Company and receipt of fresh certificate of incorporation from the Ministry of Company Affairs dated April 21, 2015, the name of the Company has been changed to Vedanta Limited.

During the previous year, pursuant to approval received from Registrar of Companies, the name of the Company had been changed from Sesa Goa Limited to Sesa Sterlite Limited w.e.f. September 18, 2013.

PERFORMANCE REVIEW

The Group structure consolidation and simplification exercise, announced in February 2012, was concluded and took effect in two phases on August 17, 2013 and August 19, 2013. Therefore, the numbers of FY 2013-14 are not comparable with FY 2012-13. On account of the merger, the Company on standalone is into iron-ore, copper, aluminium and power businesses.

The merger of Sterlite Industries (India) Limited. and Sesa Goa Limited., and the consolidation of the Vedanta Group has created India’s largest and one of the world’s top seven diversified natural resource majors by market capitalisation and EBITDA.

The merger creates a platform to reinforce the Company’s position with a diversified portfolio to reduce the volatility of earnings through commodity cycles, lowering capital cost and enhancing value. The consolidation will generate significant financial and operational synergies.

CONTINGENT LIABILITIES:

(Rs. in millions)

PARTICULARS	31.03.2015	31.03.2014
(a)Disputed liabilities in appeal :
Income Tax demands principally in respect of depreciation consequent to block assessment, disallowance of short term capital loss, disallowance of commission on sales paid to non resident, Section 14A, demurrage, Section10B deduction and additional depreciation on plant and machinery.	12096.300	13474.900
Sales Tax demands relating to tax on Freight and Entry Tax on imported goods	6872.000	4984.600
Excise Duty relating to disputes in respect of dutiability and availing of cenvat credit on certain capital goods and other inputs.	1604.200	1543.200
Service Tax demands for certain services rendered	398.300	259.500
Custom duty relating to differential export duty on export shipments	367.900	140.400
FERA/FEMA matters relating to disputes in respect of certain investments into the Company	599.000	599.000
Forest development tax levied by Government of Karnataka	2978.000	2978.000
Cess on transportation of Ore, coal and coke levied by Government of Goa under the Goa Rural and Development and Welfare Cess Act, 2000 (Goa Act 29 of 2000)	1093.800	1073.300
Royalty demand in Karnataka	121.100	121.100
Other matters principally related to Building Cess under Building and Construction Workers (RECS) Act, 1996 and corresponding Welfare Cess Act, 1996	110.700	106.300
(b)Claims against the company not acknowledged as debts principally related to commercial and employment contracts, stacking charges, dead rent on deemed mining leases and royalty.	4009.300	2492.900

STATEMENT OF UNAUDITED STANDALONE RESULTS FOR THE QUARTER ENDED DECEMBER 31, 2014

PART I

(Rs. In Millions)

Particulars	Quarter Ended 31.12.2014	Quarter Ended 30.09.2014	Nine Months Ended 31.12.2014
	Unaudited	Unaudited	Unaudited
1. Income from operations
a) Net sales/ Income from operation (net of excise duty)	85929.500	86935.00	243544.900
b) Other operating income	386.000	417.500	1169.700
Total income from Operations(net)	86315.500	87352.500	244714.600
2.Expenses
a) Cost of material consumed	50998.900	51980.300	143223.900
b) Purchases of stock in trade	2329.700	2541.200	8265.800
c) Changes in inventories of finished goods, work-in-progress and stock-in-trade	(391.200)	(362.000)	(4770.700)
d) Employees benefit expenses	1450.800	1665.800	4600.300
e) Depreciation and amortization expenses	4070.800	4024.200	12089.500
f) Power and Fuel charges	11255.500	12246.900	34392.700
g) Exchange Loss / (Gain)	(0.900)	412.800	596.200
h Other expenses	6167.700	5861.900	596.200
Total expenses	75881.300	78371.100	220429.100
3. Profit/(loss) from operations before other income, financial costs and exceptional items	10434.200	8981.400	24285.500
4. Other income	675.300	10245.000	7735.600
5. Profit/ (loss) from ordinary activities before finance costs and exceptional	11109.500	19226.400	41891.600
6. Finance costs	8515.700	9964.200	28333.200
7. Net profit/(loss) from ordinary activities after finance costs but before exceptional items	2593.800	9262.200	13558.400
8. Exceptional item	--	24.300	24.300
9. Profit from ordinary activities before tax Expense:	2593.800	9237.900	13534.100
10.Tax expenses	--	--	--
11.Net Profit / (Loss) from ordinary activities after tax	2593.800	9237.900	13534.100
12.Extraordinary Items (net of tax expense)	--	--	--
13.Net Profit / (Loss) for the period	2593.800	9237.900	13534.100
14.Paid-up equity share capital (Nominal value Re. 1/- per share)	2965.000	2965.000	2965.00
15. Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year
16.i) Earnings per share (before extraordinary items) of Re. 1/- each) (not annualised):
(a) Basic	0.87*	3.12*	4.56*
(b) Diluted	0.87*	3.12*	4.56*

PART II

SELECT INFORMATION

Particulars	Quarter Ended 31.12.2014	Quarter Ended 30.09.2014	Nine Months Ended 31.12.2014
	Unaudited	Unaudited	Unaudited
A. Particulars of shareholding
1. Public Shareholding
- Number of shares	978582499	1034843184	978582499
- Percentage of shareholding	3.01%	34.91%	33.01%
2. Promoters and Promoters group Shareholding (Excluding shares against with ADRs are issued) $
a) Pledged /Encumbered
Number of shares	--	--	--
Percentage of shares (as a % of total shareholding of the promoter and promoter group)	--	--	--
Percentage of shares (as a % of total share capital of the company)	--	--	--

b) Non Encumbered
Number of shares	1764732660	1691651651	1764732660
Percentage of shares (as a % of total shareholding of the promoter and promoter group)	100.00%	100.00%	100.00%
	59.52%	57.06%	59.52%
Percentage of shares (as a % of total share capital of the company)

$ The promoter and promoter group in addition to the equity shareholding also hold 3.35% of the equity capital in the form of ADR represented by 99292708 equity shares as on June 30, 2014.

The balance ADR of 4.12% represented 122081572 equity shares are held by CITI Bank as custodian.

Allotted in respect of 315432 equity shares to the shareholders of erstwhile Sterlite Industries (India) Limited have been kept in abeyance.

Particular	Quarter ended 30.12.2014
B. Investor Complaints (Nos.)
Pending at the beginning of the quarter	--
Receiving during the quarter	9
Disposed of during the quarter	9
Remaining unreserved at the end of the quarter	--

UNAUDITED SEGMENT WIE REVENUE, RESULTS AND CAPITAL EMPLOYED

(Rs. In Millions)

Particulars	Quarter Ended 31.12.2014	Quarter Ended 30.09.2014	Nine Months Ended 31.12.2014
	(Unaudited)	(Unaudited)	(Unaudited)
1. Segment Revenue
a. Copper	50909.300	52340.100	141520.700
b. Iron Ore	707.400	1102.700	2635.700
c. Aluminium	23819.900	22986.500	67993.900
d. Power	6622.800	5770.200	18973.600
e. Others	6740.200	6298.800	17436.100
Total	87799.600	88498.300	248560.000
Less : Inter Segment Revenue	1870.100	1563.300	5015.100
Net Sales/ Income from Operations	85929.500	86935.000	243544.900

2. Segment Result (Profit before Interest and Tax)
a. Copper	5227.100	5034.700	11335.400
b. Iron Ore	(724.900)	(39.000)	(999.700)
c. Aluminium	4684.200	3066.800	10006.600
d. Power	530.200	667.300	2650.700
e. Others	926.500	885.600	2368.200
Total	10643.100	9615.400	25361.200

Less : Finance Cost	8515.700	9964.200	28333.200
Add: Other un-allocable income net off expenses	466.400	9611.000	2996.300
Less: Exceptional Items	--	24.300	24.300
Profit before Tax	2593.800	9237.900	13534.100
3. Capital Employed
a. Copper	47142.200	50757.000	47142.200
b. Iron Ore	17159.600	16735.100	17159.600
c. Aluminium	289182.600	289995.600	289182.600
d. Power	76132.700	75236.000	76132.700
e. Others	11299.400	10828.700	11299.400
f. Unallocated	(97359.500)	(97530.200)	(97359.500)
Total	343557.000	346022.200	343557.000

PRESS RELEASE

VEDANTA DECLARED “BEST DIVERSIFIED EXPORTER” AT THE ECGC – D&B INDIAN EXPORTERS’ EXCELLENCE AWARDS 2015

Vedanta, one of India’s largest diversified natural resources company, with operations across zinc, lead, silver, oil and gas, iron ore, copper, aluminium and commercial power has been declared as India’s ‘Best Diversified Exporter’ at the ECGC (Formerly Export Credit Guarantee Corporation of India Limited) – D and B (Dun and Bradstreet ) Indian Exporters’ Excellence Awards 2015.

The award instituted by ECGC Ltd serves as a driving point for the exporters to pursue excellence and demonstrate exemplary performance. This award conferred on Vedanta recognizes the contribution of natural resources exports which contributed significantly to the Indian economy.

Commenting on the achievement, Mr. Tom Albanese, Group CEO, Vedanta, said, “This award is a testament to Vedanta’s Best of Class Business which leverage technology to ensure the best quality of exported commodities. At Vedanta, we believe in creating and delivering significant meaningful value to our stakeholders, and partnering India’s growth through the natural resources sector. ”

The Total Export Revenues (excluding deemed revenue) of Vedanta’s Indian operations in the financial year 2013-2014 stood at Rs. 155990.000 million. The top 3 products exported were copper cathode, zinc ingots and aluminium ingots.

The award was presented by Ms. Nirmala Sitharaman, Honourable Minister of State, Ministry of Commerce and Industry, at a ceremony held in Mumbai recently. Representing Vedanta, the award was received by Mr. Puneet Jagatramka, senior Vice President Central procurement and Marketing- Aluminium Business, Mr. Alok Ranjan, Head Copper business and Mr. Nikhil Supekar, Head International Sales, Hindustan Zinc.

About ECGC - D&B Indian Exporters’ Excellence Awards 2015

Indian Exporters’ Excellence Awards 2015 is a tribute to the leading exporters from various sectors which include manufacturing; trading and services. Companies with minimum 10% revenue from the export sales for FY14 were eligible for nomination. The award program included award categories across various revenue segments providing opportunity for all types of exporters across the country.

About Vedanta

Vedanta is a diversified natural resources company, whose business primarily involves exploring and processing minerals and oil and gas. The Company produces oil and gas, zinc, lead, silver, copper, iron ore, aluminium and commercial power and has a presence across India, South Africa, Namibia, Ireland, Australia, Liberia and Sri Lanka. Sesa Sterlite Limited (SSLT), formerly Sesa Goa Limited, is the Indian subsidiary of Vedanta Resources Plc, a Londonlisted company. Sustainability is at the core of SSLT's strategy, with a strong focus on health, safety and environment and on enhancing the lives of local communities. SSLT is listed on the Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New York Stock Exchange.

MALCO ENERGY SUPPORTED PULSE POLIO IMMUNIZATION CAMPAIGN 2015

Vedanta's SSLT collaborated with the Primary Health Center at Komburankadu in Tamil Nadu for Pulse Polio Immunization Campaign 2015. This campaign held on January 18, 2015 benefitted 2,387 children.

"The main objective of MALCO Energy Limited through this campaign is to support the local government for reaching out to all locations under Primary Health Center at Komburankadu in Tamil Nadu to administer the Oral Polio Vaccine," said C Murugeswaran, Head Operations and Whole-time Director, MALCO Energy Limited. The awareness of this campaign was undertaken at a District level through print and electronic media.

MEL is supporting the pulse polio immunization campaign for the last 20 years which has so far benefitted more than 40,000 children in the nearby communities. MEL's support reiterates Vedanta's strong commitment towards health-care initiatives for the local communities.

The Pulse Polio Immunization campaign was launched in India in 1995-96. The children in the age group of 0-5 years were administered polio drops during national and sub- national immunization rounds every year.

ABOUT VEDANTA

Vedanta is a diversified natural resources company, whose business primarily involves exploring and processing minerals and oil and gas. The company produces oil & gas, zinc, lead, silver, copper, iron ore, aluminium and commercial power and has a presence across India, South Africa, Namibia, Ireland, Australia, Liberia and Sri Lanka.

Sesa Sterlite Limited (SSLT) formerly known as Sesa Goa Limited, is the Indian subsidiary of Vedanta Resources Plc, a London-listed company. Sustainability is at the core of SSLT's strategy, with a strong focus on health, safety and environment and on enhancing the lives of local communities.
SSLT is listed on the Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New York Stock Exchange.

VEDANTA’S SSLT JHARSUGUDA DISTRIBUTES QUILTS TO SPECIAL CHILDREN AT BRUNDAMAL

Jharsuguda, Odisha, India, January9, 2015: Vedanta's SSLT, Jharsuguda in partnership with Vedanta Foundation distributed quilts to the students of special school at Brundamal near its plant premises. During the occasion, Ms Matilata Dungdung, District Social Welfare Officer, Mr G.G. Pal, Dy. Plant 1 Head, SSLT, Jharsuguda, Mr Dinamani Bishi, Area Coordinator- Odisha, Vedanta Foundation distributed 87 quilts to the students of the school in presence of Ms Sudhansu Bala Muduli, Principal, Special School, Brundamal and Mr Sanjeev Patnaik, Head PR, SSLT, Jharsuguda.

The objective of the initiative was to support children in need of special care by providing them essentialities for basic comfort and the effort was lauded by Mrs. Dungdung. She appreciated this noble initiatives keeping in view of the severer prevailing cold condition in the region and also expressed hope for the other supports that can be extended in future. Mr Pal reiterated the commitment of the organization and said that such initiatives are our societal commitment and we must continue them. Led by our leader Mr. Anil Agarwal, we are committed to reach out to all the children in need of development care and protection and we are reaching out to thousands of children around our presence globally.

Present on the occasion were all the CSR and PR members of SSLT, Jharsuguda, guardians of the students and others citizens of the locality.

ABOUT VEDANTA

Vedanta is a diversified natural resources company, whose business primarily involves exploring and processing minerals and oil and gas. The company produces oil and gas, zinc, lead, silver, copper, iron ore, aluminium and commercial power and has a presence across India, South Africa, Namibia, Ireland, Australia, Liberia and Sri Lanka.

Sesa Sterlite Limited (SSLT) formerly known as Sesa Goa Limited, is the Indian subsidiary of Vedanta Resources Plc, a London-listed company. Sustainability is at the core of SSLT's strategy, with a strong focus on health, safety and environment and on enhancing the lives of local communities. SSLT is listed on the Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New York Stock Exchange.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 63.57
UK Pound	1	Rs. 99.20
Euro	1	Rs. 70.35

INFORMATION DETAILS

Information Gathered by :	NYA

Analysis Done by :	KAR

Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILITY	1~10	8
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	8
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		70

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.