Vedanta’s management struck an optimistic tone on the company’s financial performance and restructuring roadmap following what it described as a “historic year” for FY26. In a detailed conversation with ET Now, senior executives highlighted record profitability across key metals businesses, clarity on the demerger timeline, and a continued focus on deleveraging and capital discipline.

Record Performance Across Key Businesses

Ajay Goel, CFO, Vedanta said the year gone by has been exceptional for the group, with all major financial indicators hitting historic highs.

“The year gone by has been truly historic. If we look at both the fourth quarter and total year, all three key metrices be it revenue, EBITDA, and the PAT has been historical best by a big margin,” he noted.

He added that both aluminium and zinc businesses delivered standout performance, with margins remaining significantly elevated.

“You are right in couple of large businesses which is zinc and aluminium our margins are quite superlative. So, the margin right now in aluminium is almost 38%. Zinc it is at 50% plus,” Goel said.
He attributed the strong profitability to higher volumes, structurally lower costs, and improved positioning on the global cost curve. According to him, both zinc and aluminium units now sit in the top decile of global production costs, aided by portfolio upgrades toward value-added products.
On sustainability, Goel remained confident: “We do foresee in the near future the margins will hold at the same levels if not better off.”
Demerger Timeline and Listing Roadmap
On the much-anticipated demerger and listing of the newly carved-out entities, management provided a clearer timeline.

Goel confirmed that the demerger will become effective from 1 May, which will also act as the record date. Listing applications will be filed in early May.

“All the four companies will get listed and all the four new companies stock will begin to trade between 15th June till end of June. So, listing and trading all within the Q1,” he said.

Debt Allocation Strategy Post Demerger
Arun Misra,ED, Vedanta elaborated on how debt will be distributed among the demerged entities, stressing that allocation has been aligned with each unit’s cash flow strength and capital needs.

“The principle for debt allocation has been the ability of every unit to serve the debt… based on projected cash flows, projected EBITDA, and capex requirement,” Misra said.

He explained that while consolidated leverage stands at around 0.95x EBITDA to debt, individual entities will see differentiated levels depending on their business profiles.

“Individual units may vary from 0.45 to maybe 1.45. So, it all remains within the similar kind of or better than the industry peers as far as debt-EBITDA ratio is concerned,” he added.

Capital Allocation Focus Remains Growth-Led
Misra also clarified that capital allocation priorities will remain unchanged even after the restructuring.

“For Vedanta, it has always been capital allocation for growth because we are primarily a growth company,” he said.

He outlined three key priorities: growth investments, operational improvements and debottlenecking, and maintenance capex.

Importantly, all projects will continue to be evaluated strictly on returns. “Nobody would be investing in a project where the IRR is… returns are lesser than say 18% or 19%,” Misra stated.

Dividend Philosophy and Shareholder Returns
On dividend expectations post demerger, Ajay Goel said each of the five entities will have independent boards and policies, but the group’s broader shareholder-friendly philosophy will remain intact.

“The way to look at post demerger not only dividend but what is the shareholder return,” he said, pointing to strong historical performance where Vedanta delivered nearly 50% total shareholder return last year.

He indicated that while dividend policies may be individually determined, high payouts and shareholder rewards will remain central to the group’s identity.

Deleveraging Plan for Vedanta Resources
On the ₹4.7 billion debt at Vedanta Resources level, management reiterated a clear deleveraging trajectory.

Ajay Goel highlighted significant progress already made, noting that debt has fallen from $9 billion to under $5 billion over the past three years.

“The VRL… will go down to 3 billion over three years and in fact, we will do more, we will do faster,” he said.

No Immediate Plans for Stake Sale or Asset Divestment
Addressing speculation around potential stake sales or asset monetisation, including in the steel business, management ruled out any immediate divestments.

“Right now, we do not intend to divest any businesses. We intend to grow them to the fuller scale,” Goel clarified.

However, he acknowledged that post demerger, the company may explore differentiated capital structures and attract thematic global investors across sectors such as aluminium, oil and gas, and iron and steel.

Vedanta enters its post-demerger phase with strong operational momentum, record margins, and a clearly defined listing and deleveraging roadmap. While the management remains focused on growth-led capital allocation, the next phase will test execution across multiple independently listed entities.

NEW YORK — Persistent rumors that Blake Lively and Ryan Reynolds are heading for divorce have reached a fever pitch in late April 2026, with multiple sources claiming the couple has been living separately and is preparing legal documents amid mounting strain from Lively’s bitter legal battle with Justin Baldoni.

Here are the five most important things you must know about the high-profile split rumors:

1. The Couple Has Reportedly Been Living Apart Insiders say Blake Lively, 38, and Ryan Reynolds, 49, have been spending time in separate residences for several weeks. Reynolds has been primarily at the family’s New York home with their four children — James, Inez, Betty and Olin — while Lively has remained in Los Angeles. The physical distance has fueled speculation that the once-envied Hollywood marriage is nearing its end after 14 years together.

2. Lively’s Legal Battle With Justin Baldoni Is a Major Strain The ongoing lawsuit between Lively and Baldoni over the film It Ends With Us has reportedly taken a heavy toll on the marriage. Lively accused Baldoni of sexual harassment and creating a hostile work environment. Baldoni countersued, alleging Lively and Reynolds orchestrated a smear campaign. Sources say Reynolds has grown frustrated with the constant media scrutiny and its impact on their family, creating tension behind closed doors.

3. Massive Financial and Custody Stakes A divorce between two of Hollywood’s biggest stars would be one of the most expensive and closely watched splits in years. The couple’s combined net worth exceeds $200 million, including multiple properties, production companies and future earnings from major franchises. With four young children, custody arrangements and co-parenting plans would be central to any proceedings. Both have previously emphasized keeping their kids out of the public eye.

4. No Official Confirmation Yet Neither Lively nor Reynolds has directly addressed the rumors. Their representatives have declined comment, maintaining the couple’s long-standing preference for privacy. However, the volume of consistent reporting from multiple credible outlets suggests the situation is serious. The couple has not been photographed together in recent weeks, adding fuel to the speculation.

5. Past Resilience Raises Hope for Reconciliation Despite the current strain, Lively and Reynolds have weathered previous challenges together. They first met on the set of Green Lantern and built what appeared to be a genuine, grounded relationship. Their playful social media exchanges and united front during public difficulties have made them fan favorites. Many observers believe the couple could still find a path forward if they can resolve the current pressures.

The marriage between Blake Lively and Ryan Reynolds has long been considered one of Hollywood’s strongest. From their charming early romance to building a large family while maintaining successful careers, they represented a modern success story. Recent developments, however, suggest that even seemingly solid relationships face significant challenges under the intense glare of fame and high-stakes professional pressures.

Lively’s lawsuit against Baldoni has been particularly messy and public. The legal battle has dragged on for months, generating daily headlines and social media commentary. Sources say the emotional and financial toll has created friction at home, with Reynolds prioritizing family privacy while Lively fights to protect her reputation and career.

Friends of the couple describe them as exhausted but still committed to finding common ground. “They love each other deeply and adore their children,” one insider said. “This isn’t easy, but they’ve overcome difficult periods before.”

A potential divorce would trigger intense media coverage and speculation about custody, asset division and future co-parenting arrangements. Both Lively and Reynolds have substantial business interests — Lively with her lifestyle brand and Reynolds with Maximum Effort Productions — that would need careful untangling.

For now, the focus remains on whether the couple can navigate this challenging period. Their history suggests resilience, but the combination of legal warfare, parenting demands and career pressures has created what many describe as an unprecedented test for their relationship.

The entertainment world continues watching closely. Any official announcement or joint public appearance would likely shift the narrative dramatically. Until then, the rumors persist, leaving fans hoping for a positive resolution for one of Hollywood’s most beloved couples.

A new design from luxury fashion house Chanel is raising eyebrows, with some critics wondering if high fashion has gone a step too far.

Chanel unveiled its Cruise 2027 collection Tuesday in Biarritz, France, featuring a sandal design that leaves most of the foot exposed, covering only the heel with straps wrapped around the ankle.

The show drew A-list attendees including Nicole Kidman, Tilda Swinton, A$AP Rocky and Sofia Coppola.

In its review, Elle described the toe-baring footwear as “intentionally incomplete.”

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“The cap-toe went out the window as the design relied solely on what the brand called a ‘barefoot heel cap,’” the outlet wrote.

Chanel Creative Director Matthieu Blazy told Women’s Wear Daily that even his own team initially questioned the bold concept.

“At some point, someone told me, ‘It’s too much,’” Blazy said. “And then we saw this amazing photo of the seashore … it’s such a mess, such an explosion. I was like, ‘You know what? Let’s go!’”

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Photos of the sandals quickly sparked debate online, with social media users split between praise and confusion.

Some called the design “genius” and “brilliant,” while others mocked the unconventional look.

“Where is the rest of the shoe?” one user wrote. “I am confused.”

“Recession indicators: half a shoe from Chanel,” another joked.

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“That’s not even a shoe. It’s a sh,” one commenter added.

“Full foot frontal,” one user joked.

One user referenced “The Devil Wears Prada,” writing, “As Miranda Priestly would say: did you fall down and smack your little head on the pavement?”

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Others questioned the practicality of the design, with one user writing: “Can someone please wear these on the NYC streets and then down into the subway and on the train? Please film feet when you get home, please.”

The sandals have not been listed as an official retail item, and pricing has not been announced.

FOX Business has reached out to Chanel for additional information.

OpenAI recently missed its own targets for new users and revenue, stumbles that have raised concern among some company leaders about whether it will be able to support its massive spending on data centers.

Chief Financial Officer Sarah Friar has told other company leaders that she is worried the company might not be able to pay for future computing contracts if revenue doesn’t grow fast enough, according to people familiar with the matter. 

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DENVER — Investigators in the Nancy Guthrie kidnapping case have uncovered potentially explosive new evidence that could dramatically shift the investigation and “light a fire on social media,” a former FBI agent familiar with the case told reporters Wednesday as the search for the 28-year-old mother of NBC rising star Savannah Guthrie intensifies.

The Boulder County Sheriff’s Office confirmed Tuesday night’s execution of a search warrant at a property in Longmont uncovered personal items belonging to Guthrie, including her fitness tracker still containing heart rate data from the morning of her March 12 abduction. Forensic teams also recovered DNA and fingerprints from an abandoned SUV near the Superior jogging trail that match a person of interest previously interviewed but not named publicly.

Retired FBI special agent Mark Lageman, who worked on high-profile abduction cases, reviewed details shared by law enforcement and described the new finds as potentially game-changing. “This kind of physical evidence linking a suspect to both the vehicle and the victim’s belongings would light a fire on social media if released,” Lageman said. “In today’s environment, one solid piece of forensics can generate millions of tips overnight.”

Nancy Guthrie, a popular local yoga instructor, vanished while jogging on a well-trafficked trail in Superior, Colorado. Witnesses reported seeing a dark SUV with tinted windows pull alongside her before she was pulled inside. Her phone was found discarded nearby, and her Apple Watch stopped transmitting shortly after the reported abduction.

Guthrie is the mother of Savannah Guthrie, the 10-year-old daughter who has appeared in several heartwarming segments on NBC’s “Today” show, where her mother occasionally contributed wellness content. The family connection has drawn national attention to the case, with Savannah’s public pleas for her mother’s safe return touching millions of viewers.

Mark Guthrie, Nancy’s husband, appeared emotional at a Wednesday press briefing. “Every day without Nancy feels impossible,” he said. “Savannah asks about her mommy constantly. We’re holding onto hope that these new leads will bring her home to us.”

The case has generated intense online interest, with amateur sleuths and conspiracy theorists flooding platforms with speculation. Elizabeth Smart’s father, Ed Smart, publicly urged people to stop spreading unverified theories, saying they distract from real investigative work and hurt the family.

Over 200 tips have poured in since the abduction, and the FBI has joined the effort under federal kidnapping statutes. The $250,000 reward remains active, and community volunteers continue daily searches in surrounding foothills and open spaces.

The new evidence from the Longmont property includes clothing matching what Nancy wore the day she disappeared. Digital forensics teams are now examining seized devices for location data, communications or financial trails that could lead to her current whereabouts.

Lageman, the ex-FBI agent, emphasized that while the evidence is promising, investigators must proceed carefully to preserve its value in court. “Social media can be a double-edged sword,” he noted. “It generates leads, but it can also compromise cases if sensitive details leak too early.”

Boulder County authorities have remained tight-lipped about the person of interest, only confirming he is a local man with prior law enforcement contact. No arrests have been made, and the investigation remains active and fluid.

The case has spotlighted safety concerns for women exercising outdoors in the Denver metro area. Local running groups have increased buddy systems and tracking app usage, while lawmakers discuss proposals for more trail cameras and rapid response protocols for missing adults.

Guthrie’s family and friends describe her as vibrant, community-oriented and deeply devoted to her children. Her sister Sarah has become a tireless advocate, appearing on national news programs to keep the story alive. “Nancy’s smile could light up any room,” she said. “We refuse to give up hope.”

As the search enters its seventh week, the new forensic developments have injected fresh momentum. Aerial searches using drones, K-9 teams and expanded volunteer efforts continue daily. Psychologists working with the family note the emotional toll of prolonged uncertainty on both Mark and young Savannah.

The connection to NBC through Savannah has brought additional media scrutiny. Network executives have offered support to the family while respecting their privacy. Several “Today” show colleagues have shared public messages of encouragement.

For law enforcement, balancing transparency with investigative integrity remains challenging in the age of instant information. Officials plan another press briefing Thursday morning and continue urging anyone with information about the dark SUV or suspicious activity on the trails in early March to contact the dedicated tip line.

The Nancy Guthrie case has captured national attention not only because of the circumstances but also due to her strong community ties and the heartbreaking family element involving her young daughter. As potentially significant evidence emerges, hope for a positive resolution grows even as the reality of prolonged uncertainty weighs heavily on everyone involved.

Community support remains overwhelming. GoFundMe campaigns have raised more than $450,000 for the family and reward fund. Yellow ribbons and posters of Nancy’s smiling face are still visible throughout the Denver area, serving as daily reminders of the missing mother.

As investigators pursue these latest leads, the public is once again asked to remain vigilant. In high-profile abduction cases, community eyes and ears often prove crucial in generating the final piece of the puzzle.

The coming days could prove pivotal. If the new evidence leads to a breakthrough, it may provide the answers the Guthrie family and the broader community have desperately sought since that March morning.