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New Delhi, <keyword id="20108985" type="General" weightage="20" keywordseo="hindustan-zinc" source="keywords">Hindustan Zinc</keyword> Ltd (<keyword id="20256739" type="General" weightage="20" keywordseo="hzl" source="keywords">HZL</keyword>) on Friday posted a 6 per cent decline in consolidated net profit to Rs 2,028 crore during the quarter ended December 2023, dragged by lower income. It had clocked Rs 2,156 crore net profit during the October-December period of the preceding 2022-23 fiscal, the company said in an exchange filing. On a quarter-on-quarter (q-o-q) basis, the company's profit grew 17 per cent as against Rs 1,729 crore in the July-September quarter. During the quarter under review, the company's total income reduced to Rs 7,606 crore from Rs 8,214 crore a year ago. Its expenses were Rs 4,937 crore as against Rs 5,028 crore in the year-ago period. On the company's efforts to reduce carbon emissions, Arun Misra, Chief Executive Officer of HZL, said: "Hindustan Zinc has initiated the deployment of electric and LNG vehicles in its operations for inter-unit movements and finished goods transportation, thereby reducing the scope 3 emissions." Its CFO Sandeep Modi said, the performance "marks the company's fourth consecutive quarter of consistent cost improvement and the lowest cost in the last 10 quarters. We continue to remain focused on cost optimisation, operational efficiencies, working capital management, digital improvements and shareholder value maximisation." HZL's production of mined metal in the quarter rose 8 per cent to 271 kilo tonne (kt) sequentially and 7 per cent up year-on-year (y-o-y), driven by higher ore production at Rampura Agucha and <keyword id="20256741" type="General" weightage="20" keywordseo="sindesar-khurd" source="keywords">Sindesar Khurd</keyword> mines. In the quarter under review, its refined metal production grew 7 per cent to 259 kt sequentially and 1 per cent higher y-o-y. Integrated zinc production in the quarter increased 10 per cent to 203 kt sequentially and declined 4 per cent y-o-y. In the December quarter, production of refined lead fell 1 per cent to 56 kt sequentially but grew 21 per cent y-o-y. Its saleable silver production in the quarter was 197 MT (metric tonne), up 9 per cent q-o-q and 22 per cent y-o-y. <keyword id="20006961" type="General" weightage="20" keywordseo="sharing" source="keywords">Sharing</keyword> an update on the projects, HZL said its fumer and alloy plants are currently under operation after their commissioning in the last quarter, while a new roaster at Debari of 160 ktpa and Hindustan Zinc Fertilisers Private Ltd (HZFPL) of 510 ktpa for main process package is on track. The company generated a cash flow of Rs 2,097 crore during the quarter. Total borrowings outstanding as of December 2023 was Rs 10,111 crore. During the quarter, the company paid a dividend of Rs 2,535 crore. Hindustan Zinc is the world's second largest integrated zinc producer and fifth largest silver producer. The Udaipur-based company holds about 80 per cent of the growing zinc market in the country.

Hindustan Zinc Q3 net profit falls to Rs 2,028 crore

<ul><li>FMCG giant HUL’s shares reported a decline of over 6% on Thursday.</li><li>This comes a day after the company reported a 2.33% decline in consolidated net profit in Q2.</li><li>The stock tanked 6.59% to ₹2,483.95 on the NSE.</li></ul>Shares of FMCG major <keyword id="20002610" type="General" weightage="20" keywordseo="Hindustan-Unilever" source="keywords">Hindustan Unilever</keyword> Ltd (HUL) on Thursday tumbled over 6% after the firm reported a 2.33% decline in consolidated net profit for the second quarter ended in September. The stock tanked 6.59% to ₹2,483.95 on the NSE. The stock emerged as the biggest laggard among the Sensex and Nifty firms during the morning trade. Hindustan Unilever Ltd on Wednesday reported a 2.33% decline in consolidated net profit at ₹2,595 crore for the second quarter ended in September 2024, impacted by moderation in demand from the urban market. The company had logged a net profit of ₹2,657 crore in the July-September quarter a year ago, HUL said in a regulatory filing. However, revenue from product sales was up 2.36% at ₹15,703 crore in the September quarter, from ₹15,340 crore in the year-ago period, HUL which owns power brands such as Surf, Rin, Lux, Pond's, Lifebuoy, Lakme, Brooke Bond, Lipton and Horlicks said. "In the September quarter, <keyword id="21419477" type="General" weightage="20" keywordseo="FMCG-demand" source="keywords">FMCG demand</keyword> witnessed moderating growth in urban markets, while rural continued to recover gradually. In this context, we delivered a competitive and profitable performance," HUL CEO and Managing Director Rohit Jawa said. HUL reported an underlying sales growth of 2% and underlying volume growth of 3%. Total expenses were at ₹12,581 crore in the September quarter, up 3.03% year-on-year. HUL's total income, which includes other income, was up 2.14% to ₹16,145 crore in the September quarter of FY25. Addressing an earnings call, HUL CFO Ritesh Tiwari said, "Two thirds of our business we do in urban areas, and one-third we do in rural areas … we are seeing growth in the urban market moderating. We are seeing rural growth recovery is gradual … it impacts all the categories that we have." On the outlook, he said, "In the near term, we expect demand trends to be stable with no further acceleration in pace of growth." In this context, Tiwari said, "Our focus remains on driving competitive volume-led growth, while continuing investments behind our brands and strategy priorities … If commodity prices remain where they are, we expect a low single digit price growth in the near-term." With inputs from PTI. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms">Afcons Infrastructure IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms">UPI refund to digital arrest scam, here are some online scams you need to be aware of</a> <a href="https://www.businessinsider.in/stock-market/news/waaree-energies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114508632.cms">Waaree Energies IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Hindustan Unilever shares tumble over 6% post Q2 results

Mining conglomerate <keyword id="19919721" type="General" weightage="20" keywordseo="Vedanta" source="keywords">Vedanta</keyword> Ltd on Tuesday reported 36.5 per cent rise in consolidated net profit at Rs 3,606 crore for June quarter FY25 due to improved margins and robust cost reduction across all operations. The company had posted a net profit of Rs 2,640 crore in the year-ago period. Income rose to Rs 36,698 crore over Rs 34,279 crore in the year-ago period, according to an exchange filing. Vedanta said in a statement that the proposed demerger of its businesses is on track and it has already filed the demerger scheme with NCLT after getting a nod from secured creditors. The company said that its board has approved a capex investment of USD 270 million for its oil and gas business. "The strategic priority for the Cairn Oil &amp; Gas business is to augment reserves and increase near term volume through infill wells and enhanced oil recovery. In order to deliver this, the Board has approved capex investment (net) of USD 270 million across fields in the Rajasthan block for drilling wells and construction of surface facility for ASP ( Alkaline Surfactant Polymer) injection," the company said in a separate filing. Vedanta Executive Director Arun Misra said that the company has delivered a strong start to the year, with exceptional EBITDA improvement of 47 per cent and PAT improvement by 54 per cent year-over-year on the back of improved margins, and robust cost reduction across all operations. "Our aluminium and zinc divisions continue to outperform industry benchmarks, consistently ranking in the top quartiles and deciles of the global cost curve. These achievements are a direct result of our strategic focus on cost, as reflected in a 20 per cent year-over-year reduction in overall cost," he said. The company's growth projects are well on track and it remains committed to commission the majority of these projects in FY25. "Moving ahead, our focus on operational efficiency, sustained expansion, and ESG excellence will guide our journey. With this dedication, we are confident in our ability to create substantial shareholder value in the year ahead," he added. Last month, the mining conglomerate raised Rs 8,500 crore (over USD 1 billion) through Qualified Institutions Placement (QIP) of 19.31 crore equity shares at an issue price of Rs 440 per share. Company's CFO Ajay Goel said, "The overwhelming response to the Vedanta's... QIP...underscores investors' huge confidence. The proceeds from the QIP will be further instrumental in deleveraging the balance sheet and reduction of finance costs. We have received all the requisite approvals and have filed the demerger scheme with the National Company Law Tribunal (NCLT) taking our demerger a step closer to reality." The company's gross debt stood at Rs 78,016 crore as on June 30, 2024. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources companies spanning across India, South Africa, Namibia, Liberia, the UAE, Korea, Taiwan and Japan with significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power and glass substrate. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank">Unicommerce eSolutions IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank">Electric two-wheeler sales cross the 1 lakh mark after four months, Ola Electric leads the market</a> <a href="https://www.businessinsider.in/sports/news/neeraj-chopras-paris-olympics-journey-to-begin-with-qualification-round-today-top-rivals-to-look-out-for/articleshow/112311760.cms">Neeraj Chopra qualifies for finals with a first throw of 89.34m – top rivals to look out for</a>

Vedanta Q1 profit surges 37% to ₹3,606 crore on improved margins

<ul><li>The Modi government seems to be hurrying to achieve its disinvestment target for FY23. </li><li>As inflation runs rampant and the Indian government’s growth prospects take a hit, managing the <keyword id="6365485" type="General" weightage="20" keywordseo="fiscal-deficit" source="Orion">fiscal deficit</keyword> could be a prime concern for the government now. </li><li><keyword id="115997" type="General" weightage="100" keywordseo="hindustan-zinc" source="Orion">Hindustan Zinc</keyword>, a former government company now owned by Anil Agarwal’s Vedanta, is one of the leading companies in zinc, lead, silver and cadmium mining. </li></ul>The Modi government seems to be sprinting towards its ₹65,000 crore disinvestment target for the financial year 2022-23, with a new report claiming that it has approved the offloading its ₹40,000 crore stake in Hindustan Zinc, one of the leading zinc, lead, silver and cadmium mining companies in India. According to a report by <a href="https://economictimes.indiatimes.com/markets/stocks/news/govt-approves-stake-sale-in-hindustan-zinc-says-report-stock-rallies-7/articleshow/91784848.cms">ET Now</a>, the government has approved the sale of its 29.5% stake in Hindustan Zinc, which is worth nearly ₹40,000 crore. The stake sale was challenged in the Supreme Court last year, but the court’s verdict cleared the path for the government to pare its holdings. The shares of Hindustan Zinc hit an intraday high of 7%, and as of 3:00 p.m. today (May 25), the stock was up 5%. <div type="image" title="Hindustan Zinc 01_01_22 to 25_05_22." msid="91788875" hostid="261" caption="&amp;lt;p&amp;gt;Hindustan Zinc share price in 2022&amp;lt;/p&amp;gt;"></div> However, given the bearish market sentiment, it might be prudent to delay the stake sale. Since the beginning of March, Hindustan Zinc has already lost nearly 13% of its value. <cmsannotation type="cmsannotation" annotationid="A sign of things to come?" comment="subhead" text="A sign of things to come?">A sign of things to come?</cmsannotation> Interestingly enough, the government has set a disinvestment target of ₹65,000 crore for FY23. Of this, it has already realized ₹20,560 crore with the <a href="https://www.businessinsider.in/stock-market/news/lic-ipo-check-out-analysts-view-on-whether-to-sell-or-hold-lic-ipo-post-listing/articleshow/91515679.cms">LIC IPO</a> – this is despite cutting down the stake sale from 5% to 3.5%. The LIC stake sale leaves the government with a balance of a little less than ₹40,000 crore – all of which could be realized by offloading its stake in Hindustan Zinc – with more than 10 months left in FY23. The government’s urgency to pare its holdings could be a sign of a bigger problem, which is fiscal deficit. Fiscal deficit refers to a shortfall in the government’s income compared to its spending. The government could be looking at a much higher disinvestment in the current financial year to offset a portion of deficit to keep it within manageable limits. The ET Now report adds that the government could also be looking at paring its stake in consumer goods and tobacco giant ITC. The government currently holds a 7.91% stake in the company, which is worth ₹26,601 crore as of today. <cmsannotation type="cmsannotation" annotationid="RBI’s hawkish stance behind government’s change of mind?" comment="subhead" text="RBI’s hawkish stance behind government’s change of mind?">RBI’s hawkish stance behind government’s change of mind?</cmsannotation> With inflation running rampant, India’s central bank <a href="https://www.businessinsider.in/finance/news/indias-central-bank-confirms-another-rate-hike-is-coming-in-june/articleshow/91739640.cms">finally shifted</a> its stance from dovish to hawkish by hiking interest rates – meaning, the Reserve Bank of India thinks inflation is a more immediate concern than growth. A hawkish policy – which is what Das and RBI are following now – suggests that higher interest rates help reduce inflation. A dovish policy, on the other hand, favours expansionary monetary policies with low interest rates to boost demand. In his interview, the RBI governor, Shaktikanta Das underlined that he expects the government to be in a position to manage the current account deficit ‘comfortably’. It’s not clear if Das factored in the government disinvesting to keep the deficit under control, but it is something that should become clearer with time. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/indias-central-bank-confirms-another-rate-hike-is-coming-in-june/articleshow/91739640.cms">India’s central bank confirms another rate hike is coming in June, but promises to soften the blow after the May shocker</a> <a href="https://www.businessinsider.in/business/corporates/news/the-big-boss-of-indias-largest-consumer-company-is-worried-about-stagflation-and-unprecedented-inflation/articleshow/91251341.cms">The big boss of India's largest consumer company is worried about stagflation and unprecedented inflation</a> <a href="https://www.businessinsider.in/retail/news/biscuits-ghee-and-hair-oil-to-get-cheaper-after-government-duty-cut-but-after-three-months/articleshow/91784809.cms">Biscuits, ghee and hair oil to get cheaper after government duty cut — but after three months</a>

Modi government’s itch to offload ₹40,000 crore Hindustan Zinc stake hints at a bigger deficit than initially anticipated

<ul><li>Bangladesh’s economy has lured many Indian companies like Adani, Hero and now, <keyword id="115997" type="CITY" weightage="20" keywordseo="Hindustan-Zinc">Hindustan Zinc</keyword> is ready to tap the growth in India’s neighbouring country.</li><li>Bangladesh’s per capita income surpassed India’s last year, and its GDP has been growing steadily.</li><li>Hindustan Zinc is looking to set up a processing unit in India to export products to the South Asian market.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>. </li></ul>India’s largest zinc miner Hindustan Zinc is looking to make a segway into Bangladesh, given the economic boom in the country, which shares nearly two third of its borders with India. In 2020, Bangladesh surpassed its larger neighbour India in <a href="https://www.newindianexpress.com/business/2021/may/20/bangladesh-beats-india-in-per-capita-income-2304942.html">per capita income (PCI)</a>. Hindustan Zinc is also working on setting up a maintenance and processing factory in Gujarat to supply Zinc to other South Asian countries. The Chief Executive Officer (CEO) of Hindustan Zinc, <keyword id="1583550" type="PERSON" weightage="20" keywordseo="Arun-Misra">Arun Misra</keyword>, told Business Insider that 70% of the Gujarat plant’s 0.3 million tonne capacity will go to Bangladesh and other Southeast Asian markets. Currently, miners in Africa, mostly Chinese, sell commodities to South Korea for processing Asian markets and conversion to zinc (by competitors), before hitting the South Asian markets. “We realised that we [Hindustan Zinc] could stop that traffic midway and do it in Gujarat and then convert to metal and then supply to Southeast Asia, which is going very fast and very stable economies as of now,” CEO Misra told Business Insider in an exclusive interview as he completed his first year in the corner office. The company currently has facilities located in five regions of Rajasthan and a zinc-lead processing and refining facilities as well as a silver refinery at Pantnagar in Uttarakhand. Misra also highlighted two points behind their latest interest in the Bangladesh market. First, the country’s economy has been doing well. Second, Bangladesh is a land of rivers, which leads to more corrosion of metal. “We'll have more zinc galvanisation in their country. So, nearby countries have a good future for zinc,” he added. Corrosion is a degradation of a material, especially metal, due to chemical reactions. Most metals are susceptible to corrosion and the most common form of corrosion is rusting. Water can make metal rust faster, which makes it almost a necessity to apply a protective zinc coating (galvanising) to steel or iron. More importantly, Bangladesh is witnessing an economic upswing ⁠— an average growth of<a href="https://data.worldbank.org/indicator/NY.GDP.PCAP.KD.ZG?locations=BD&amp;name_desc=false"> 5.4%</a> in gross domestic product (GDP) in last 5 years ⁠— leading to a massive investments in infrastructure. The government in Dhaka plans to increase its spending on infrastructure as well. According to Bangladesh’s Dhaka Chamber of Commerce and Industry, the country needs to invest approximately <a href="https://www.trade.gov/country-commercial-guides/bangladesh-infrastructure-development-and-engineering-services">$25 billion</a> annually till 2030 to meet its infrastructure needs. It will also help the country maintain as well as further<a href="https://www.adb.org/sites/default/files/project-documents/51311/51311-001-rrp-en.pdf"> accelerate </a>its GDP growth momentum. And, Misra sees opportunities unravelling there. “We have just entered Bangladesh. Looking at it, there's a possibility [of business growing], directly we are entering. So we are not yet a big mover inside Bangladesh, as of now. But we are still in Bangladesh and Southeast Asia, as a big base for growth, Misra told Business Insider. <div type="image" title="EXCLUSIVE: India&amp;#39;s largest zinc miner Hindustan is eyeing a share of the Bangladesh economic boom" msid="84963588" hostid="261"></div> The company is getting environment clearance procedures and other regulatory processes to make this project into a reality. Hindustan Zinc has seen a spectacular year as commodity prices including iron ore, copper and coal, around th e world have seen a spike in the last one year. Misra believes that this uptrend in commodity prices is likely to last for at least another two years. “Quote” However, global financial services firm Macquarie, in its June 2021 report, projected a cooling down in commodity prices particularly in steel, iron ore and zinc over the next 12 months, after a stellar rally that many have called the ‘supercycle’ in commodities. <div type="image" title="EXCLUSIVE: India&amp;#39;s largest zinc miner Hindustan is eyeing a share of the Bangladesh economic boom" msid="84963558" hostid="261"></div> Even other Indian companies have started to take notice of the Bangladesh market. Last year, Adani Group <a href="https://www.thedailystar.net/business/news/adani-group-registers-bangladesh-subsidiary-1873849">registered</a> a wholly owned subsidiary company named Adani Bangladesh Ports Private (ABPPL) in Bangladesh. It will also start a 1,000 acre India Special Economic Zone (ISEZ) to help Indian companies set up shop in the neighbouring country. Other Indian companies have also invested in Bangladesh too. This includes Ashok Leyland, the Hero Group, Emami, Dabur, Asian Paints, Pidilite, Godreh, Tata Motors, Sun Pharma and others. SEE ALSO <a href="https://www.businessinsider.in/india/news/these-seven-indian-states-face-the-highest-risk-of-a-spike-in-covid-19-infections-and-stricter-restrictions/articleshow/84962478.cms">These seven Indian states face the highest risk of a spike in COVID-19 infections and stricter restrictions</a> <a href="https://www.businessinsider.in/tech/news/jack-dorseys-square-agreed-to-buy-afterpay-which-has-a-buy-now-pay-later-service-for-29-billion-in-stock/articleshow/84962218.cms">Jack Dorsey's Square agreed to buy Afterpay, which has a 'buy now, pay later' service, for $29 billion in stock</a> <a href="https://www.businessinsider.in/tech/news/twitter-offers-up-to-3500-to-people-who-can-help-fix-apparent-racial-and-gender-bias-in-its-image-cropping-algorithm/articleshow/84946710.cms">Twitter offers $3,500 reward to people who can help fix apparent racial and gender bias in its image-cropping algorithm</a>

EXCLUSIVE: India's largest zinc miner is eyeing a share of the Bangladesh economic boom

New Delhi, Jan 21 () Shares of Hindustan Zinc on Tuesday shed nearly 2 per cent after the company reported a 26.7 per cent decline in net profit at Rs 1,620 crore for the December 2019 quarter.
 The stock opened at Rs 214 and fell 1.94 per cent to close at Rs 212.30 on the BSE. During the day, the scrip slumped 2.19 per cent to a low of Rs 211.75.
 On the NSE, the shares closed 1.83 per cent lower at Rs 212.40. During the trading session, the scrip lost 2.17 per cent to touch a low of Rs 211.65.
 The company on Monday posted a 26.7 per cent decline in net profit at Rs 1,620 crore for the December 2019 quarter.
 Net profit in the year-ago period was Rs 2,211 crore, the company said in a BSE filing.
 Total income during October-December dropped to Rs 5,117 crore as compared to Rs 6,090 crore in the year-ago quarter, the firm said. RUJ SHW
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Hindustan Zinc Q3 net profit falls to Rs 2,028 crore

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Hindustan Unilever shares tumble over 6% post Q2 results

BI India Bureau

Vedanta Q1 profit surges 37% to ₹3,606 crore on improved margins

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Modi government’s itch to offload ₹40,000 crore Hindustan Zinc stake hints at a bigger deficit than initially anticipated

Rounak Jain

EXCLUSIVE: India's largest zinc miner is eyeing a share of the Bangladesh economic boom

Kritti Bhalla

Hindustan Zinc stock falls nearly 2 pc post Q3 results

PTI

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