Jaipur: Hindustan Zinc Limited, the leading global integrated producer of zinc, lead and silver, reported its results for the first quarter ended June 30, 2021.
Mined metal production for the quarter was up 9% y-o-y to 221kt on account of higher ore production, partly offset by lower overall grade. Sequentially, MIC production was down 23% on account of lower ore production and overall grades.
Integrated metal production was 236kt for the quarter, up 17% y-o-y in line with higher mined metal availability. Sequentially it was down 8% in-line with lower ore production due to lack of operator availability at the mines in view of second wave of COVID-19.
Integrated zinc production was 188kt, up 20% y-o-y and down 4% sequentially. Integrated lead production was 48kt, up 9% y-o-y and down 21% sequentially.
Integrated silver production was 161tons, up 37% from a year ago in line with higher lead production, partly offset by lower grades at Sindesar Khurd (SK) mine, while it was down 21% sequentially primarily in-line with lower lead production.
Commenting on the Q1 performance, Mr Arun Misra, CEO, said: “We delivered highest-ever Q1 ore, refined metal & silver production. After exiting at a run-rate of 1.2 mtpa in fiscal year 2021, we maintained the momentum of production in Q1 with Year-on-Year growth of 15% in ore, 17% in refined metal & 37% in silver inspite of the spurt in covid cases in the second wave of the pandemic”. On receiving 'Most Sustainable Company in the Mining Industry – 2021' award from World Finance Sustainability Award 2021, he said that he is elated to receive this recognition as it motivates us to perform better each time. Speaking about the achievements, he further said that Hindustan Zinc’s Rampura Agucha mine has won CII's 'Best Application & Use of Renewable Energy' award in the 5th Edition CII National Energy Efficiency circle -2021.
While Mr Vinaya Jain, Sr. VP & Head Finance, said: “We delivered our best ever Q1 Revenue, EBITDA and Profit after tax (PAT). Our strong balance sheet enables us to make proactive investments in operations and digitalization that will further enhance our mining output. We do recognize the headwinds from rising input commodity prices and are doubling our efforts to address them through long lasting structural cost initiatives. Additionally, we remain committed to our ESG goals and will continue to deploy necessary resources towards them. Sharp focus on cost leadership and profitability while building a sustainable business, will ensure long term value to all stakeholders.”
Hindustan Zinc is planning digitalisation drive across all mines continued during the quarter. Initiatives such as setting up of digital control room with short interval control to Reducing stope cycle time, Online analyser for impurity tracking to maintain higher current efficiencies are underway.
As on June 30, 2021, the Company’s gross investments and cash & cash equivalents were Rs.23,902 Crore as compared to Rs.22,308 Crore at the end of the fourth quarter (Mar’21).
The Company’s net investments and cash & cash equivalents as at end of June 30, 2021 was Rs.17,249 Crore as compared to Rs.15,130 Crore at the end of the fourth quarter (Mar’21) and was invested in high quality debt instruments.
For further information please contact:
Ms. Dipti Agrawal
Head - Corporate Communications
Hindustan Zinc Limited
Ms. Shweta Arora
Head – Investor Relations
Hindustan Zinc Limited