Vedanta Oil and Gas posts Rs 49.88 cr Q4 loss on negative operating margin
Standalone expenses exceeded revenue, while the stock fell -8.69% by t+1 after the results.
Filed 16 Jun 2026, 16:56 IST · after market close · Vedanta Oil and Gas Ltd (VOGL)
Key takeaways
- Vedanta Oil and Gas reported a standalone Q4FY26 net loss of Rs 49.88 cr, with operating profit at -Rs 31.54 cr.
- Expenses of Rs 99.23 cr exceeded revenue of Rs 67.69 cr, producing an operating margin of -46.59%.
- The stock fell -4.99% on the first trading day and reached -8.69% at t+1 after the results.
Price around the results
Revenue did not cover the standalone cost base
Vedanta Oil and Gas reported standalone revenue of Rs 67.69 cr against expenses of Rs 99.23 cr in Q4FY26, resulting in an operating loss of Rs 31.54 cr. Interest of Rs 13.80 cr and depreciation of Rs 7.43 cr took the loss before tax to Rs 49.88 cr. With tax at Rs 0.00 cr, the net loss was also Rs 49.88 cr and EPS was -Rs 21.31.
Other income could not offset operating and finance costs
Other income of Rs 2.89 cr provided only a partial offset to the operating loss. The zero tax charge meant there was no tax-related reduction in the reported loss.
Margin was 61.18 percentage points below the peer median
Among 15 Energy companies that had reported the same quarter, Vedanta Oil and Gas had an operating margin of -46.59% versus the sector median of 14.59%. It ranked first from the bottom on this measure. The stock fell -4.99% on the first trading day, extended the decline to -8.69% at t+1, and traded at 3.4 times its reference volume.
Q4FY26 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q4FY26 |
|---|---|
| Revenue | ₹68 cr |
| Other income | ₹3 cr |
| Expenses | ₹99 cr |
| Operating profit | ₹-32 cr |
| Operating margin (%) | -46.59% |
| Interest | ₹14 cr |
| Depreciation | ₹7 cr |
| Profit before tax | ₹-50 cr |
| Tax | ₹0 cr |
| Net profit | ₹-50 cr |
| EPS (₹) | ₹-21.31 |
Operating margin of -46.59% compares with a Energy sector median of 14.59% across 15 peers that have reported Q4FY26.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | -4.99% | -5.39% |
| Next session | -8.69% | — |
| 5 sessions | +0.44% | +0.30% |
Volume on the results session was 3.40× its 20-day average.
What to watch
- Whether revenue moves above the current expense base of Rs 99.23 cr.
- Whether operating margin recovers from -46.59%.
- Whether interest stays below Rs 13.80 cr.