Latest news with #ArunMisra
Time of India
22-07-2025
- Business
- Time of India
Udaipur to host Vedanta Zinc City half marathon on Sept 21
Udaipur: Hindustan Zinc Limited will host the second Vedanta Zinc City Half Marathon on September 21 in Udaipur. Certified by the Association of International Marathons and Distance Races (AIMS), this globally recognised event invites runners nationwide to experience Udaipur's scenic beauty, featuring Fateh Sagar Lake and the Aravali Hills. Early bird registration, offering a 30 percent discount, is open until July 31 at Following last year's success, the marathon promotes health, fitness, and community spirit. It includes a 21km half marathon, 10km cool run, 5km dream run, and a special 'Race With Champions' for specially-abled children, emphasising inclusivity. Hindustan Zinc is engaging corporates, NGOs, and running groups to boost participation and foster partnerships. Recognised as India's Most Beautiful Marathon, the route takes runners through Udaipur's breathtaking landscape, from the tranquil expanse of Fateh Sagar Lake to the majestic Aravali ranges. Participants will experience the city's rich heritage and natural beauty at every step, making this marathon a journey through one of India's most picturesque destinations. To enhance the experience for participants, special arrangements by Anybody Can Run will be in place. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Lana Green Is Retiring - Her Final Jewelry Pieces Are 80% Off Artisan Weekly Read More Undo Hydration stations will be strategically located along the route, providing essential refreshments. Additionally, medical stations and resting spots will be available, staffed by experienced physiotherapists and doctors. Hindustan Zinc CEO Arun Misra stated, "The Vedanta Zinc City Half Marathon embodies our commitment to building healthier communities and creating opportunities that inspire collective progress. After an overwhelming response last year, we are thrilled to bring back India's Most Beautiful Marathon with an even greater vision for inclusivity and community engagement. We look forward to welcoming runners on September 21 from all walks of life to experience Udaipur's unique charm and spirit. " Udaipur, known as the Zinc City with a 2,500-year zinc mining legacy, hosts this event as part of a series, followed by the Vedanta Delhi Half Marathon in October and the Vedanta Pink City Half Marathon in Jaipur this December.
Malaysian Reserve
21-07-2025
- Business
- Malaysian Reserve
Hindustan Zinc beats consensus, backed by all-time high silver prices and first quarter lowest cost of production
UDAIPUR, India, July 21, 2025 /PRNewswire/ — India-based Hindustan Zinc Limited, a Vedanta Group company and the world's largest integrated zinc producer, announced its financial results for the first quarter ended 30th June 2025 on 18th July 2025. The company registered its highest ever first quarter mined metal production of 265 KT. Also, the company clocked record quarterly alloy production from subsidiary Hindustan Zinc Alloys (HZAPL), taking overall share of value-added products to c.24%. The company registered the lowest ever first quarter zinc cost of production (COP)^ at US$ 1,010/MT, better 9% YoY. The company delivered a profit, beating estimates to US$ 261 million with an industry leading EBITDA margin of c.50%. Hindustan Zinc, amongst the top five silver producers globally, has witnessed continued significant contribution from the silver segment to profitability at c.41%. During the quarter, the company secured two critical mineral blocks, Potash in Rajasthan and Rare Earth Elements (REEs) in Uttar Pradesh. In the same period, the company's renewable energy consumption increased to c. 19%, on track to progressively achieve 70% by FY28. Along with that, Hindustan Zinc's Board approved the first phase of plans towards doubling production capacity with an investment of US$ 1.4 billion to set up a new 250 KTPA integrated smelting complex alongside similar expansion of mines & mills capacities. Historically, Hindustan Zinc has maintained investment grade rating 'AAA' and recently received ratings reaffirmation at CRISIL AAA/Stable/CRISIL A1+. Arun Misra, Chief Executive Officer, said: 'Delivering our highest-ever first quarter mined metal production at the lowest-ever zinc cost of production reflects our relentless focus on operational efficiencies and cost leadership. We have further strengthened our growth pipeline with Board approved Phase-1 of plans towards doubling the production capacity. Coupled with the addition of critical minerals blocks and rare earth elements, we are poised to transform into a multi-metal powerhouse, unlocking sustained value for our stakeholders.' USD-INR rate is 85.57^since underground transition About Hindustan Zinc Limited Hindustan Zinc Limited, a Vedanta Group company, is the world's largest integrated zinc producer and recognized as the world's most sustainable metals & mining company by the S&P Global CSA 2024. Disclaimer This release contains forward-looking statements that may differ from actual results. We undertake no obligation to update them. Photo:
Time of India
18-07-2025
- Business
- Time of India
Hindustan Zinc posts net profit of 2,234cr in Q1
Udaipur: Vedanta group firm Hindustan Zinc Ltd (HZL) on Friday reported 4.7% decline in consolidated net profit at Rs 2,234 crore for the quarter ended June 30, 2025 on account of decline in revenue. The company had posted a net profit of Rs 2,345 crore in the year-ago period, HZL said in a filing to BSE. Revenue during the first quarter of FY26 dropped to Rs 7,591 crore from Rs 7,893 crore in the year-ago period. In a statement, HZL said the decline in revenue was due to reduced volumes and decreased prices for zinc and lead commodities, although this was somewhat compensated by increased silver prices, a stronger dollar, and better by-product realisations. Total expenses during April-June FY26 dropped to Rs 5,065 crore over Rs 5,284 crore in the year-ago period, the filing said. "In line with the rising zinc demand projected by 2030, the board has approved the Phase-1 expansion project towards 2x growth, further strengthening our growth pipeline. "Coupled with the addition of blocks of critical minerals and rare earth elements, we are strategically poised to transform into a true multi-metal powerhouse, unlocking sustained value for all our stakeholders," HZL Chief Executive Officer Arun Misra said. On the project updates, the company said 160 kilo tonne per annum (KTPA) roaster at Debari, Rajasthan will be commissioned in the second quarter of the current financial year. The 510 KTPA fertiliser plant is under progress and is likely to be completed by first quarter of implementation of hot acid leaching technology for recovery of lead and silver from smelting waste at Dariba is likely to be completed by the fourth quarter of the current financial year.
Time of India
18-07-2025
- Business
- Time of India
Would have taken govt nod for Hindustan Zinc fee if it was needed: Arun Misra, CEO
If Hindustan Zinc 's brand fee agreement needed an approval from the government, it would have been taken, Arun Misra, the CEO of the Vedanta-owned company said on Friday. Misra's remarks were in response to ET's query regarding US-based short seller Viceroy Research 's claim that Hindustan Zinc did not take the government's approval for its Brand Fee agreement in 2023. In its report earlier this week, Viceroy said that this would lead an 'event of default' as per the shareholder agreement with the government. Explore courses from Top Institutes in Select a Course Category Artificial Intelligence Cybersecurity Leadership Product Management Digital Marketing others Data Science Management Operations Management Design Thinking MBA MCA Technology Healthcare CXO Others healthcare Degree Data Analytics Data Science Project Management Public Policy PGDM Finance Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details "The point is about deliberation where government-nominated directors attend. It goes through a number of audits. It gets vetted by legal and then it is done in the board meeting," Misra told ET in an exclusive interaction. "The board will also ask the same question. So, had the approval been needed, it would have been taken," he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cardiologist Reveals: The Simple Morning Habit for a Flatter Belly After 50! Lulutox Undo While Vedanta owns 61.84% of Hindustan Zinc, the government has a 27.92% stake in the company. The company's board also has directors nominated by the government. Earlier this week, ET had reported that these nominees are likely to ask the company about its dealings with its promoters in the aftermath of the Viceroy report. "When I opened the document, I was made to agree that it was for educational purposes-how do I take it to the board for discussion?" Misra said. He, though, acknowledged that the board meeting did have discussions related to the report. APRIL-JUNE EARNINGS Live Events The company also reported its earnings for the June quarter on Friday, and its consolidated net profit fell nearly 5% year-on-year to ₹2,234 crore. The bottomline, though, was higher than market expectations.
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Business Standard
18-07-2025
- Business
- Business Standard
Hindustan Zinc CEO rejects Viceroy's brand fee allegations against Vedanta
Viceroy argued that this arrangement not only undermines transparency but also places legal and financial risks on HZL New Delhi Hindustan Zinc Ltd (HZL) CEO Arun Misra on Friday dismissed allegations made by US-based short seller Viceroy, which claimed that Vedanta violated its brand fee agreement with the government. Misra stated that all decisions related to the brand fee were made following proper procedures and board approval. Viceroy, in a recent report, accused Vedanta of breaching its agreement with the government by collecting brand fees from HZL. Misra clarified that before any proposal reaches the board, it undergoes legal review and is shared in advance with the government of India and its nominee director. "We are very clear in our approach. We take matters to board after due consultation, legal vetting... we share (the proposals) with the government of India, nominee director before the board meeting. They have adequate time to go through (the proposals)," he told the news agency PTI. Misra added that it is the board's responsibility to approve or reject proposals and that the brand fee decision was made through this process. "We don't find any issue in that," he said. According to the latest shareholding data, the government holds a 27.92 per cent stake in HZL, while Vedanta owns 61.84 per cent. During the privatisation process, Vedanta acquired the stake in HZL from the government in 2002. Over the past few days, Viceroy has released a series of reports against Vedanta and its subsidiaries. One of the biggest claims involves HZL's ₹1,560 crore payment to Vedanta for 'brand and strategic services,' which Viceroy described as lacking commercial justification, despite oversight from government-nominated directors on the board. Viceroy's claims so far Viceroy argued that this arrangement not only undermines transparency but also places legal and financial risks on HZL. The report suggested the brand fee deal violated the original shareholder agreement signed during HZL's privatisation. Viceroy also claimed Vedanta failed to construct a smelter that was contractually required. According to its report, this could trigger a put/call option in the shareholder agreement, allowing the government to either force Vedanta to buy its 29.54 per cent stake in HZL at a 50 per cent premium, or require the government to buy Vedanta's 64.92 per cent stake at a 50 per cent discount posing a potential financial risk of up to $10.66 billion. In response, a Vedanta spokesperson said the shareholder agreement, signed between the government and Sterlite Opportunities and Ventures (now part of Vedanta), allowed the company to drop the Kapasan project within a year if it was not viable, based on an independent assessment. 'Following a thorough project evaluation, Hindustan Zinc opted for a more cost-effective brownfield expansion at Chanderiya, which was duly approved by the Board, including government-nominated directors. This was communicated to the Ministry of Mines in 2003 and again in 2005, and no concerns were raised. Since the acquisition, HZL's capacity has grown nearly 5-fold,' the spokesperson said.
