Vedanta Ltd's Chairman Anil Agarwal has stated that the company expects to invest USD 1.7 billion in the current fiscal year to increase the capacities of its different commercial operations. He stated in the company's Annual Report for fiscal 2022-23 that it has already invested USD 1.2 billion in growth expenditure in FY2023 to expand its assets and production.

"We intend to commit another USD 1.7 billion to growth projects in FY 2024," Agarwal said.

The chairman revealed details about the company's projects, stating that Vedanta is already boosting its aluminium and zinc capacities.

"Our oil and gas operations, which account for nearly a quarter of India's production, are also diversifying their reserves and resource portfolio with the goal of contributing 50% of India's total Oil and Gas production," he said.

Regarding the company's performance in the fiscal year ended March 31, FY23, he stated that in the previous year, Vedanta faced a challenging and uncertain macro-environment, owing to extended geopolitical strife, a subsequent energy crisis, and harsh monetary policies enacted by central banks.

However, it had an exceptional operating performance, reporting revenue of Rs 1,45,404 crore and EBITDA of Rs 35,241 crore. A solid net-free cash flow of Rs 18,077 crore was generated by the company.