Vedanta Oil and Gas Ltd

Vedanta Oil and Gas Ltd's Board of Directors has approved the formulation and implementation of the Vedanta Oil and Gas Limited - Employee Stock Option Plan 2026 (VOGL ESOP 2026) and Vedanta Oil and Gas Limited - Employee Stock Purchase Plan 2026 (VOGL ESPP 2026). These plans aim to grant options to eligible employees and subsidiaries, covering up to 5% of the company's total paid-up share capital. The implementation will be through a trust route involving secondary acquisition of existing equity shares. Additionally, Mr. Pulak Modi has been designated as the Vice Chairman of the Board. The plans are subject to shareholder approval and comply with SEBI regulations.

Vedanta Oil and Gas Limited (VOGL) announced its first quarter financial results for the period ended June 30, 2026. The company reported a 9% year-on-year increase in revenue, reaching ₹2,507 crore. EBITDA saw a significant 16% quarter-on-quarter growth to ₹1,232 crore. Profit After Tax (PAT), including discontinued operations, stood at ₹945 crore. The company also highlighted an average gross operated production of 77.7 kboepd and a gas discovery in the Kaam BCP-1ST well in Rajasthan. This performance marks a strong start for VOGL as a listed entity, driven by operational excellence and exploration success.

Vedanta Oil and Gas Limited (formerly Malco Energy Limited) announced that its Board of Directors, in a meeting held on July 29, 2026, approved the unaudited consolidated and standalone financial results for the first quarter ended June 30, 2026. The company also submitted the Limited Review Report from its statutory auditors, M/s Walker Chandiok & Co LLP, who provided an unmodified opinion. The board meeting commenced at 3:00 p.m. IST and concluded at 3:38 p.m. IST. Various disclosures required by SEBI regulations were addressed, with several noted as not applicable for this quarterly filing.

Vedanta Oil and Gas (VOGL — the former Malco Energy and the demerged home of Cairn's oil & gas business) reported its first quarter as a standalone entity, posting a consolidated net profit of ₹945 Cr for Q1 FY27 against a ₹104 Cr loss a year earlier and a ₹479 Cr loss in Q4 FY26. The headline swing is almost entirely accounting: a ₹1,056 Cr exceptional gain on the slump sale of the Power, Nicomet and Coke businesses to the Vedanta group (booked under discontinued operations) more than offset a ₹152 Cr net loss in the continuing Oil & Gas business. Stripping the net ₹711 Cr of exceptional gains, underlying PAT was roughly ₹234 Cr — still a turnaround from the prior-year loss, but a fraction of the reported figure. The continuing O&G business did improve operationally — profit before exceptionals and tax was ₹114 Cr versus a ₹6 Cr loss a year ago, with revenue from operations up 8.5% YoY to ₹2,507 Cr — but the print was dragged by a ₹379 Cr impairment against the Cambay Block (CB-OS/2), taken after the Delhi High Court on 22 July upheld the government's refusal to extend the block's Production Sharing Contract, plus ₹62 Cr of demerger costs. Together these produced a ₹441 Cr exceptional loss in continuing operations and pushed continuing pre-tax to a ₹327 Cr loss. Other income fell sharply to ₹151 Cr (from ₹320 Cr) and revenue slipped 3.1% sequentially. This is VOGL's maiden print since the Cairn demerger took effect on 1 May 2026, so comparatives are pro-forma carve-outs and no formal Street consensus or management P&L guidance yet exists for the standalone entity — the only public marker is management's aspiration of ~500,000 boed by FY29, against Q1 production of roughly 77 kboepd (down ~17% QoQ). The company flags the Cambay PSC appeal, now before the HC divisional bench, as an unresolved overhang, and separately the promoter group encumbered shares under a $2.25 Bn facility during the quarter. Standalone results tell the same story — ₹695 Cr PAT built on the identical ₹1,056 Cr slump-sale gain, masking a ₹349 Cr continuing-operations loss.

Vedanta Oil and Gas Ltd has received a 'No Objection' from the Ministry of Petroleum and Natural Gas (MoPNG), Government of India, for the assignment of participating interests and operatorship of oil and gas blocks. This approval is in relation to the Scheme of Arrangement that became effective on May 1, 2026. The MoPNG's approval is subject to Vedanta Oil and Gas assuming pending liabilities of Vedanta Limited related to exploration and production contracts. The communication also addresses Block CB-OS/2, noting Vedanta Limited's successor-in-interest status and the Delhi High Court's upholding of MoPNG's decision to reject the PSC extension. Vedanta Oil and Gas is advised to comply with several conditions, including intimating demerger effectiveness, submitting amendments to contracts, furnishing fresh bank guarantees, and discharging all outstanding government dues.

Vedanta Oil and Gas Ltd has announced a Board of Directors meeting on Wednesday, July 29, 2026, to consider the Unaudited Standalone and Consolidated Financial Results for the First Quarter ended June 30, 2026. Concurrently, the company has informed that the Trading Window for dealing in its securities will remain closed for Designated Persons from July 01, 2026, to July 31, 2026, inclusive, in accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015. An earnings conference call to discuss the results is scheduled for July 30, 2026.

Vedanta Oil and Gas Ltd has scheduled a Board of Directors meeting for July 29, 2026, to consider and approve the Unaudited Standalone and Consolidated Financial Results for the First Quarter ended June 30, 2026. The company also announced that the trading window for designated persons will remain closed from July 1, 2026, to July 31, 2026. An earnings conference call to discuss the results is scheduled for July 30, 2026.

Vedanta Oil and Gas Limited (VOGL) has received an intimation under LODR regulations from its promoter group entities, including Twin Star Holdings Ltd., Vedanta Resources Limited (VRL), Vedanta Holdings Mauritius II Limited, and Welter Trading Limited. The intimation pertains to a facility agreement dated July 20, 2026, entered into by these entities. While VOGL is not a direct party to the agreement, certain clauses affecting VOGL as a group member are effective from the agreement's execution date or the first utilization date. The agreement's purpose includes repayment of VRL's financial indebtedness.

Vedanta Oil and Gas Limited (VOGL) shares held by Vedanta Resources Limited (VRL) and its subsidiaries are subject to encumbrances as per a disclosure under SEBI's Takeover Regulations. This is due to a US$2.25 billion facility agreement where GLAS Agency (Hong Kong) Limited acts as the agent. The agreement imposes restrictions on creating security over VOGL shares and requires VRL group to maintain at least 50.1% control if VOGL becomes a Material Subsidiary. The current commitment from original lenders is US$1.545 billion, with potential for an increase.

Vedanta Oil and Gas Ltd has been unsuccessful in its bid to extend the Production Sharing Contract (PSC) for the CB/OS-2 Block. The Hon'ble Delhi High Court dismissed the company's writ petition against the Union of India and Directorate General of Hydrocarbons on July 22, 2026. Vedanta Limited has since filed a Letters Patent Appeal (LPA) before the Division Bench of the Delhi High Court. The company is currently assessing the financial and operational implications of this judgment and is pursuing appellate remedies to safeguard its interests.