Vedanta Aluminium share price target: Why Citi, CLSA, Nuvama see up to 20% upside after Q1 earnings

Published 31 July 2026 · finance

Brokerages reiterated their bullish calls on the shares of Vedanta Aluminium Metal after the recently-listed company reported a more than threefold year-on-year (YoY) jump in

Brokerages reiterated their bullish calls on the shares of Vedanta Aluminium Metal after the recently-listed company reported a more than threefold year-on-year (YoY) jump in consolidated net profit to Rs 5,629 crore for the first quarter of FY27.Vedanta Aluminium Metal, which debuted on stock exchanges last month after spinning out of Vedanta during the mega demerger, saw its share price rise nearly 2% on Friday morning to trade at Rs 465 apiece after the company on Thursday reported a 46% YoY surge in revenue from operations to Rs 21,393 crore during the April-June quarter of FY27.Vedanta Aluminium's total income rose more than 46% YoY to Rs 21,702 crore, while total expenses increased over 7.5% YoY to Rs 12,870 crore during the quarter under review. Vedanta Aluminium's net profit margin more than doubled to 31% in Q1 FY27 from 15% in Q1 FY26, while its operating profit margin improved to 45% from 26% in the corresponding quarter last year. The company's net worth surged more than 86% YoY to Rs 30,441 crore at the end of the first quarter.Along with its Q1 results, Vedanta Aluminium Metal announced its first interim dividend of Rs 8 per share on a face value of Re 1 for FY27.

The company has fixed August 5 (Wednesday) as the record date to determine shareholders' eligibility for the dividend.Also read | Vedanta Aluminium Q1 Results: Net profit soars 3x YoY to Rs 5,629 crore; Rs 8/share dividend declaredCLSA on Vedanta Aluminium share priceCLSA maintained its ‘Outperform’ rating on the shares of Vedanta Aluminium, with a target price of Rs 540 apiece, implying more than 18% upside potential from the stock’s previous closing price of Rs 457.05 apiece on NSE.The international brokerage said that the company’s Q1 performance came in largely in line with estimates, with cost of production falling by $20 per tonne despite the impact of the Middle East conflict. Key projects (capacity expansion guidance and coal and bauxite mine commissioning) were largely on track, which could drive $175-200 per tonne in cost savings, it added.Citi on Vedanta Aluminium share priceCiti has a ‘Buy’ call on the shares of Vedanta Aluminium, with a target price of Rs 525 apiece, implying around 15% upside potential. It said that the company's EBITDA was 4% ahead of estimates.This came on the back of rising aluminium prices and lower costs.Nuvama on Vedanta Aluminium share priceNuvama has a ‘Buy’ call on the stock with a target price of Rs 540 apiece.

The brokerage highlighted that the firm’s Q1 EBITDA was in line with estimates, driven by higher aluminium prices and lower cost of production.“We expect Q2 FY27 EBITDA to be 5-8% lower QoQ due to lower aluminium price and higher CoP, partly offset by higher volume. Start of its captive bauxite and coal mine in H2 FY27 is likely to reduce its hot metal CoP below $1,600/t in FY28,” it added.Emkay on Vedanta Aluminium share priceEmkay said Vedanta Aluminium delivered a strong Q1 FY27 earnings print, reporting record-high EBITDA, broadly in line with estimates and driven by firmer aluminium prices and sustained cost discipline.“We believe the medium-term cost reduction story is intact, supported by higher captive alumina integration, commencement of captive bauxite and coal mines, and the BALCO expansion, which should drive margin expansion. Q2 earnings are likely to soften sequentially due to cost-related headwinds, the lower Al prices, and the impact of hedges, these should be partly offset by higher BALCO volumes,” the brokerage said.Emkay has a ‘Buy’ call on the shares of Vedanta Aluminium, with a target price of Rs 550 apiece, implying an upside potential of more than 20% from the stock’s previous closing price.Vedanta Aluminium share priceVedanta Aluminium was the only large-cap stock among the four companies spun off from Vedanta under its mega demerger and debuted in June.