Hindustan Zinc shares in focus after winning 1,841-hectare potash-halite block in Rajasthan
Synopsis Hindustan Zinc posted its highest-ever Q1 mined metal production at 265 KT, up 1% YoY, though down 15% QoQ due to routine mine prep. Refined metal and silver output declined due to maintenance and lower ore quality. Subsidiary HZL Alloys hit record production, while wind power generation surged 113% QoQ, aided by seasonal patterns. Shares of Hindustan Zinc Limited (HZL), a Vedanta Group company, will be in focus on Thursday after the firm announced it has received a Letter of Intent (LoI) from the Ministry of Mines for a major mineral block in Rajasthan.
ADVERTISEMENT The LoI pertains to the grant of a composite license for the Jhandawali–Satipura Amalgamated potash and halite block, located in the Hanumangarh district and spanning 1,841.25 hectares. The license was awarded through an e-auction process, in which Hindustan Zinc emerged as the preferred bidder.
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Hindustan Zinc reported its highest-ever Q1 mined metal production at 265 kilo tonnes, up 1% year-on-year. However, production was down 15% sequentially due to routine mine preparation activities during the quarter.Refined metal output stood at 250 kilo tonnes, down 5% YoY and 7% QoQ. This included 202 kilo tonnes of refined zinc and 48 kilo tonnes of refined lead, both impacted by lower plant availability and scheduled maintenance shutdowns. Meanwhile, Hindustan Zinc Alloys, a wholly owned subsidiary, recorded its highest-ever quarterly production at 5.1 kilotonnes.Silver production declined to 149 tonnes, down 11% YoY and 16% QoQ, largely due to lower silver content from the SK mine and a high base in the previous quarter owing to work-in-progress liquidation.
ADVERTISEMENT Wind power generation rose sharply to 134 million units, up 24% YoY and 113% sequentially, supported by seasonal wind patterns.
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