India Is Ready For Semiconductor Revolution: Anil Agarwal, Vedanta
Vedanta Chairman Anil Agarwal on Saturday said that India is at the cusp of a golden age and the company is committed to making sizeable investments across business verticals in the coming years.
Addressing the 58th Annual General Meeting of Vedanta, Agarwal said that the company has demonstrated resilience and delivered impressive results in the last financial year.
"In FY23, our revenue stood at Rs 1,45,404 crore, with an EBITDA of Rs 35,241 crore. We made highest ever production of aluminium, zinc, and steel. Continuing with our consistent track record, your company declared a total dividend of Rs 101.5 per share in FY23," he said.
Agarwal said that Vedanta is well-positioned to seize the enormous opportunity for India in the natural resources sector.
"The world has its eyes on India as the next factory of the world. Our country stands to be the principal beneficiary of the 'China + 1' strategy. We have a government that has a razor-sharp focus on creating an investment friendly environment," he said.
Agarwal said that Vedanta will begin a historic foray into semiconductor fab and display fab this year, subject to government approvals.
"This will open an entirely new avenue of rapid growth for the company in a sector that is strategic for the country," he said.
Agarwal said that Vedanta is committed to ESG and has pledged USD 5 billion over the next 10 years to accelerate the transition to net-zero operations.
"We are dedicated to achieving net-zero carbon emissions by 2050 and net water positivity by 2030," he said.
Agarwal said that Vedanta is committed to driving positive change in society and has pledged Rs 5,000 crore towards social impact programs and community development.
"We currently operate over 5,500 Nand Ghars and have recently signed an MoU to develop another 25,000 centers," he said.
Agarwal concluded by saying that India is living in a time of opportunity like never before and that Vedanta is committed to creating ever more value for its shareholders while also contributing to building the great nation.
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