Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Hindustan Zinc Limited: Results for the Third Quarter Ended December 31, 2015

The following release was issued today by Vedanta Limited's subsidiary Hindustan Zinc Limited.

"Another quarter of strong operating performance"


News provided by

Vedanta Limited

21 Jan, 2016, 12:20 GMT

Share this article

Share toX

Share this article

Share toX

MUMBAI, India, Jan. 21, 2016 /PRNewswire/ -- Highlights for the quarter

  • Highest ever integrated saleable silver production at 116 MT; up 67% y-o-y
  • Integrated saleable zinc production up 8% y-o-y at 206kt
  • Integrated saleable lead production up 42% y-o-y at 35kt
  • Mined metal production marginally lower from a year ago at 228kt

Hindustan Zinc Limited today announced its results for the third quarter ended December 31, 2015.

Mr. Agnivesh Agarwal, Chairman – "We are happy to report strong refined metal production with silver touching new highs. However, the current low zinc metal prices are contrary to the market fundamentals. We are carrying out a review of our high cost operations to ensure all of our operations are sustainable in the present weak zinc market."

Unaudited Financial Summary
(In Rs. crore, except as stated)


Particulars

Q3

Q2

Nine months ended 31 December

2016

2015

Change

2016

2016

2015

Change

Net Sales/Income from Operations








Zinc

2,472

2,994

-17%

2,886

8,145

7,890

3%

Lead

430

419

3%

507

1,348

1,314

3%

Silver

368

283

30%

357

984

914

8%

Others

115

108

6%

158

412

398

3%

Total

3,385

3,804

-11%

3,908

10,889

10,516

4%

EBITDA

1,469

2,089

-30%

2,188

5,329

5,441

-2%

Profit After Taxes

1,811

2,379

-24%

2,285

6,017

6,181

-3%

Earnings per Share (Rs.)

4.29

5.63

-24%

5.41

14.24

14.63

-3%

Mined Metal Production ('000 MT)

228

242

-6%

240

700

618

13%

Refined Metal Production ('000 MT)








Total Refined Zinc

206

196

5%

211

605

517

17%

- Refined Zinc – Integrated

206

192

8%

211

605

504

20%

Total Saleable Refined Lead1

35

30

17%

40

107

91

17%

- Saleable Lead – Integrated

35

25

42%

39

102

72

42%

Total Refined Saleable Silver2,3(in MT)

116

85

37%

112

303

247

23%

- Saleable Silver – Integrated

116

70

67%

110

300

192

56%

Wind Power (in million units)

67

55

22%

159

353

371

-5%

Zinc CoP without Royalty (Rs. / MT)4

52,383

50,271

4%

50,236

51,137

54,277

-6%

Zinc CoP without Royalty ( $ / MT)

795

812

-2%

771

789

893

-12%

Zinc LME ($ / MT)

1,613

2,235

-28%

1,847

1,878

2,209

-15%

Lead LME  ($ / MT)

1,681

2,000

-16%

1,714

1,776

2,093

-15%

Silver LBMA ($ / oz.)

14.8

16.5

-10%

14.9

15.3

18.6

-18%

USD-INR

65.9

62.0

6%

64.9

64.8

60.8

7%

(1)    Excluding captive consumption of 2,051 MT in Q3 FY2016 as compared with 2,394 MT in corresponding prior period.
(2)    Excluding captive consumption of 10.7 MT in Q3 FY2016 as compared with 12.5 MT in corresponding prior period.
(3)    Silver occurs in Lead & Zinc ore and is recovered in the smelting and silver-refining processes.
(4)    Historical CoP has changed due to re-allocation of administrative expenses between zinc and lead.

Note: Numbers may not add up due to rounding off.


Operational Performance

Mined metal production was 228,082 MT in Q3 as compared with 242,416 MT a year ago. The decrease was largely on account of change in mining mix due to increased contribution from Sindesar Khurd mine and Kayad mine, resulting in lower average grades. For the nine month period, mined metal production increased by 13% to 700,458 MT from corresponding prior period.

While Q4 is expected to be weak as per mine plan, full year guidance of marginal growth in mined metal production is maintained; production of refined metals will also be ahead of previous year with silver being significantly higher.

Integrated zinc and lead metal production during the quarter increased by 8% y-o-y and 42% y-o-y to 206,322 MT and 35,352 MT respectively on account of enhanced smelter efficiency and conversion of inventories. For the nine month period, integrated zinc and lead metal production increased by 20% and 42% respectively from corresponding prior period.

Integrated silver metal production was the highest ever during the quarter, up 67% y-o-y to 116 MT. The increase was driven primarily by enhanced volumes from Sindesar Khurd mine as well as higher smelter efficiency. For the nine month period, integrated silver production increased by 56% to 300 MT from a year ago.

The zinc metal cost of production per MT before royalty during the quarter was Rs. 52,383 ($795), which is marginally higher by 4% in rupee terms (lower by 2% in USD terms) from a year ago. The increase is attributed to lower average grades due to change in mining mix, increased & additional regulatory levies and rupee depreciation. This was partly offset by lower coal & commodity prices and higher volumes with better efficiencies. Looking at the current downturn in LME prices, the Company has embarked on a journey of reducing the cost structures to sustain the competiveness of its operations.

Financial Performance

Revenues during the quarter were Rs. 3,385 crore, which is 11% lower from a year ago. The impact of higher volumes and rupee depreciation was more than offset by lower LME prices and zinc premium.

EBITDA during the quarter was Rs. 1,469 crore, which is 30% lower from a year ago primarily on account of lower LME prices and impact of newly levied contribution to the District Mineral Foundation of Rs. 84 crore.

Net profit decreased to Rs. 1,811  crore during the quarter as compared to Rs. 2,380 crore a year ago in line with above and due to lower investment income, partly offset by lower tax.

Expansion Projects

With the on-going multi-year transition to underground mining, mine development is crucial to sustaining future production for the Company. Total mine development during the quarter was accelerated by 55% y-o-y, achieving an all-time record of 15,822 metres.  

Sindesar Khurd mine ramped up production capacity to a run rate of 3 million MT per annum three months ahead of the schedule indicated earlier, supported by the development of two auxiliary lenses as separate production centres. During the quarter, mill debottlenecking was completed in-line with the mine production, while a new mill project of 1.5 million MT per annum capacity also commenced.  The shaft sinking project continues to be ahead of plan.

Rampura Agucha main shaft sinking crossed 860 metres during the quarter of the ultimate depth of 950 metres. Pre-stripping for further deepening of the open pit is progressing satisfactorily, mitigating the risk of delays in decline development and regular stoping from underground mine due to ore body characteristics.

The ramp up of Kayad mine is on track and is expected to achieve 1 million MT per annum production capacity run rate by year end, making it one of the fastest underground mine ramp ups.

Zawar and Rajpura Dariba mine expansion projects are being reviewed in the light of current environment of low commodity prices. 

Liquidity and investment

As on December 31, 2015, cash and cash equivalents were Rs. 32,639 crore, out of which Rs. 23,581 crore was invested in mutual funds, Rs. 5,575 crore in bonds and Rs. 3,480 crore in fixed deposits. The Company follows a conservative investment policy and invests in high quality debt instruments.

Earnings Call on Friday, January 22, 2016 at 11:00 am (IST)

The Company will hold an earnings conference call on Friday, January 22, 2016 at 11:00 am IST, where senior management will discuss the Company's results and performance. The dial in numbers for the call are given below:

Primary: +91-22-6746-5962
Secondary: +91-22-3960-0762

For further information, please contact:   

Media enquiries
Pavan Kaushik
Corporate Communications
pavan.kaushik@vedanta.co.in
Tel: +91-99288-44499

Investor Relations
Ekta Singh
Investor Relations
hzl.ir@vedanta.co.in
Tel: +91-80030-99676

About Hindustan Zinc

Hindustan Zinc (NSE & BSE: HINDZINC) is the one of the largest integrated producers of zinc-lead with a capacity of 1.0 million MT per annum and a leading producer of silver.  The Company is headquartered in Udaipur, Rajasthan in India and has zinc-lead mines at Rampura Agucha, Sindesar Khurd, Rajpura Dariba, Zawar and Kayad; primary smelter operations at Chanderiya, Dariba and Debari, all in the state of Rajasthan; and finished product facilities in the state of Uttarakhand.

Hindustan Zinc has a world-class resource base with total reserve & resource of 375.1 million MT and average zinc-lead reserve grade of 11.5%. The Company has a track record of consistently growing its reserve & resource base since 2003 and currently has a mine life of over 25 years.

The Company is self-sufficient in power with an installed base of 474 MW coal-based captive power plants. Additionally, it has green power capacity of 309 MW including 274 MW of wind power and 35 MW of waste heat power. The Company has an operating workforce of over 18,000 including contract workforce.

Hindustan Zinc is a subsidiary of the BSE and NSE listed Vedanta Limited (formerly known as Sesa Sterlite Limited; ADRs listed on the NYSE), a part of London listed Vedanta Resources plc, a global diversified natural resources company.

Disclaimer

This press release contains "forward-looking statements" – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward–looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.

For further information, please contact:

Communications
Roma Balwani
President – Group Communications, Sustainability & CSR
Tel: +91-22-6646-1000
gc@vedanta.co.in

Investor Relations
Ashwin Bajaj
Director – Investor Relations

Sunila Martis
Manager – Investor Relations

Vishesh Pachnanda
Manager – Investor Relations
Tel: +91-22-6646-1531
vedantaltd.ir@vedanta.co.in

About Vedanta Limited (Formerly Sesa Sterlite Ltd.)

Vedanta Limited is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, copper, iron ore, aluminium and commercial power. The company has a presence across India, South Africa, Namibia, Australia, Ireland, Liberia and Sri Lanka.

Vedanta Limited, formerly Sesa Sterlite Limited is the Indian subsidiary of Vedanta Resources Plc, a London-listed company. Governance and Sustainable Development are at the core of Vedanta's strategy, with a strong focus on health, safety and environment and on enhancing the lives of local communities. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New York Stock Exchange.

For more information please log on to www.vedantalimited.com

Vedanta Limited
(Formerly known as Sesa Sterlite Limited)
Vedanta, 75, Nehru Road, Vile Parle (East), Mumbai - 400 099
www.vedantalimited.com

Registered Office:
Sesa Ghor, 20 EDC Complex, Patto, Panaji (Goa) - 403 001
CIN: L13209GA1965PLC000044

Disclaimer

This press release contains "forward-looking statements" – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward–looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.

Related Links

http://www.vedantalimited.com

Modal title

Also from this source

Vedanta Regains Control of Konkola Copper Mines in Zambia

Vedanta Regains Control of Konkola Copper Mines in Zambia

Vedanta Resources Holdings Limited ("VRHL" or "Vedanta Holdings" or "Vedanta"), the diversified global mining, metals, natural resources, energy, and ...

More Releases From This Source

Explore

Banking & Financial Services

Banking & Financial Services

Mining

Mining

Mining

Mining

Mining & Metals

Mining & Metals

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.