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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

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It comes with an additional discount upto ₹4,250 on SBI credit card transactions. iQOO 11 5G <cmsannotation type="cmsannotation" annotationid="B07WHQLR7G" comment="amazoncard" text="B07WHQLR7G">B07WHQLR7G</cmsannotation> The iQOO Neo 6 5G is a good option if you are looking for a flagship smartphone at an affordable price. The smartphone features a 6.78-inch Quad HD+ E6 LTPO AMOLED display with a 120Hz refresh rate and is equipped with the powerful Snapdragon 8 Gen 2 chipset coupled with 8GB RAM and 256GB of internal storage. It features a triple camera setup and comes with a 16MP selfie camera. It is powered by a 5,000mAh battery coupled with 120W fast charging. The smartphone is currently available for ₹49,999, down from its original price of ₹61,999. You can also avail a whole host of discounts if you purchase using the SBI credit or debit card. Honor 90 <cmsannotation type="cmsannotation" annotationid="B0CG11S7SV" comment="amazoncard" text="B0CG11S7SV">B0CG11S7SV</cmsannotation> If you are looking for a mid-range smartphone with a clean UI, the Honor 90 is worth considering. The smartphone, available in three colour options features a 6.7-inch Full HD+ OLED display with a 120Hz refresh rate and is powered by the Snapdragon 7 Gen 1 Accelerated Edition chipset. The smartphone comes with a triple camera setup at the back consisting of a 200MP primary camera. On the front, the device sports a 50MP camera for selfies and video calling. It is powered by a 5,000mAh battery and supports 66W fast charging. The Honor 90 is currently available for ₹31,999, down from its original price of ₹47,999. Additionally, SBI credit and debit card users can avail an additional discount of upto ₹3,250. iQOO Neo 7 Pro 5G <cmsannotation type="cmsannotation" annotationid="B07WHSQWLW" comment="amazoncard" text="B07WHSQWLW">B07WHSQWLW</cmsannotation> The iQOO Neo 7 Pro 5G is part of the company’s Neo series and offers good performance at an affordable price tag. It runs on Android 13 out of the box and features a 6.78-inch Full HD+ AMOLED display with a 120Hz refresh rate. The device is powered by a Snapdragon 8+ Gen 1 chipset, coupled with up to 12GB RAM and 256GB of internal storage. The device features a triple camera setup at the back and features a 16MP selfie camera. The device is powered by a 5,000mAh battery with 120W fast charge support. The smartphone is currently available for ₹36,999, down from its original price of ₹42,999. Disclaimer - When you purchase through links on Business Insider India, we may earn affiliate commission.

Amazon Great Indian Festival 2023 – Best deals on smartphones

New Delhi, May 15 () The board of Hindustan Zinc (HZL), a subsidiary of Vedanta, has approved an interim dividend of Rs 16.50 per equity share for FY20 amounting to Rs 6,972 crore. Vedanta owns 64.9 per cent stake in the company, while the centre retains a 29.54 per cent stake. HZL has intimated that its board of directors, through resolution passed by circulation on Tuesday, has approved interim dividend of Rs 16.50 per equity share - 825 per cent on face value of Rs 2 per share for the financial year 2019-20 amounting to Rs 6,972 crore, Vedanta informed the BSE on Friday. HZL is one of the largest integrated producers of zinc and lead and a leading producer of silver. It has facilities in Rampura Agucha, Chanderiya, Dariba, Kayad and Zawar in Rajasthan, along with zinc-lead processing and refining facilities and a silver refinery at Pantnagar in Uttarakhand. SID SID ANSANS

Hindustan Zinc board approves interim dividend of Rs 16.50/share for FY20

The year 2013 witnessed a great deal of volatility, with the <keyword id="6354813" type="COMPANY" weightage="40" keywordseo="nifty">Nifty</keyword> and the <keyword id="6484188" type="CITY" weightage="40" keywordseo="Sensex">Sensex</keyword> surging to new highs. Nevertheless, three out of five Nifty 50 <keyword id="6354298" type="ORGANIZATION" weightage="40" keywordseo="stocks">stocks</keyword> remained laggards, including a number of high-profile companies. 
 This year might have been forgettable for them, but these heavyweights are likely to do better in 2014, not just because of their vast potential but also due to favourable changes in the <keyword id="34412" type="ORGANIZATION" weightage="40" keywordseo="economy">economy</keyword>. ET Intelligence Group lists the companies that are likely to lead the Nifty rally in 2014 and why. 
 
<keyword id="6355199" type="CITY" weightage="40" keywordseo="Reliance-Industries">Reliance Industries</keyword> 
 
After underperforming the Nifty for five consecutive years, Reliance Industries has barely matched the index’s performance in 2013 so far, but 2014 is likely to be better. 
 
Reliance has embarked on a high capital expenditure programme, investing Rs 1,50,000 crore in three years in expanding petrochemical and polymer capacities, improving efficiencies at its refineries and increasing its dwindling gas output. 
 
 
 
Thus, FY13-FY16 is likely to be a phase of high earnings growth for the company, supporting stock outperformance. There are some risks, though. The company is fighting against penalties proposed by the petroleum ministry, while the outlook for the refining industry is clouded, with margins likely to come under pressure in 2014. Nevertheless, the company’s strong balance sheet should ensure a robust performance for its shares once the risks subside. 
 
Sesa Sterlite 
 
The government has endorsed the sale of residual stakes in its two group companies – Hindustan Zinc and Balco – through auction. This will allow Sesa Sterlite, which already holds more than 63% of HZL, to buy 25-100% of the government stake. Following this, HZL would be either merged with Sesa Sterlite or delisted. This would give Sesa Sterlite access to more than Rs 20,000 in cash with HZL and put the company in a position to bring down its debt. 
 
Also, the overall volumes of the companies across businesses – iron, copper, zinc, and oil and gas – are likely to pick up in 2014. The aluminium business could face some pressure due to falling prices. Growth in volumes and strengthening of the balance sheet will lead to re-rating of the stock, which is currently trading at a significant discount to its global peers BHP and Rio Tinto. FY15 EV/EBIDTA for Sesa Sterlite is 4.9, while it’s 6.2 and 6.6 for BHP and Rio, respectively. 
 
<keyword id="6653" type="CITY" weightage="40" keywordseo="ICICI-bank">ICICI Bank</keyword> 
 
Focus on the retail segment, a large branch network and steady loan growth may lead to consistent profit growth in the next few quarters. The bank has posted a 20% y-o-y growth in net profit in the last 12 quarters. Current and <keyword id="25450" type="UNKNOWN" weightage="40" keywordseo="savings">savings</keyword> accounts (CASA) as a percentage of total deposits improved to 43.3% in the September quarter as against 39% in the June quarter. This is among the highest among the private sector banks. 
 
Gross NPAs as of the September quarter stood at 3.08%, which is reasonable considering the macro environment. At current market prices, the stock is trading at a price-to-book value of 1.8. This is lower than peers such as HDFC Bank and Kotak Bank, which are trading at 4.5 and 3.5. Over the last few years, the stock was trading at a discount to its peers due to higher exposure to stressed assets. However, sustained profit growth in next few quarters may lead to a lower valuation gap. 
 
Ultratech Cement 
 
UltraTech Cement, being the largest company in the sector with a pan-India presence, stands to gain from the expected improvement in construction in 2014. With the acquisition of JP Associates’ Gujarat plant this year, the company’s cement capacity stands at 63 million tonnes, almost 16.8% of total domestic capacity. 
 
UltraTech Cement has been selectively expanding its capacity, which has strong long-term benefits. Cement prices are currently under pressure. In the September quarter, all-India cement prices traded at Rs 299 per 50-kg bag, up 2% from the year earlier. Once demand improves next year with the clearing of infrastructure projects, UltraTech would be one of the few large cement companies to gain. In the coming year, analysts expect cement demand to grow at 7-8%. This should improve earnings at UltraTech, which also has a light balance sheet with a debt-to-equity ratio of less than 1. 
 
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<keyword id="45475" type="CITY" weightage="40" keywordseo="Larsen-Toubro">Larsen &amp; Toubro</keyword> 
 
 
 
If there is one company that has succeeded relatively well in defying the slump in the engineering and capital goods sectors over the past few quarters, it is Larsen &amp; Toubro. The company’s increasing focus on internationalisation has helped it partly offset the slump in the domestic economy. The company had an order book of Rs 1.76 lakh crore at the end of the September quarter or close to three years of revenue. 
 
The ratio of international to domestic orders moved up from 10:90 in 
FY13 to 15:85 at the end of September. This puts pressure on operating profit margin, which at 10.2% for the trailing 12 months was 87 bps below the comparable period. An increase in domestic investment activity could ease out some stress on the margins going forward. In the event of a pick up in the investment economy in second half of 2014, it is likely to be one of the biggest beneficiaries and that will invariably boost its share price. 
 
PowerGrid 
 
PowerGrid has underperformed the broader index due to the overhang of the dilution through the recent follow-on public offer. However, PowerGrid may now not need any further equity for at least next three to four years. Under the 12th Five-Year Plan, the company has a capex target of Rs 1.1 lakh crore. 
 
In the past, the company has consistently met its execution target, which led to a compounded annual growth rate of 24% in net profit in the last five years. Given the track record on execution and the healthy capex target, profit growth may continue to remain healthy in the future. Going ahead, with concerns over equity dilution subsiding, the stock may be driven by fundamentals. 
 
Cipla 
 
Cipla, one of India’s biggest drug makers, has been through a transition phase in 2013. This has included the induction of new senior managers, changes in <keyword id="383688" type="UNKNOWN" weightage="40" keywordseo="business-strategy">business strategy</keyword> and the restructuring of various business segments. The company is now setting up front ends in the developed markets of the US and Europe with an intention to launch its own products there. It is also investing in R&amp;D to build a pipeline of products for launch. 
 
This increased initial investment has squeezed margins in recent quarters in the expectation of more sustainable growth in the future. As product approvals pick up and products are launched, the company is likely to see the fruits of this strategy in 2014. It’s likely to emerge as an outperformer in its sector by the second half of 2014.

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

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Amazon Great Indian Festival 2023 – Best deals on smartphones

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