Hindustan Zinc Limited Results for the First Quarter Ended 30 June 2013
19 Juillet 2013 - 1:19PM
Business Wire
Hindustan Zinc Limited (“HZL” or the “Company”) today announced
its results for the first quarter ended 30 June 2013.
Highlights for the
quarter
- Mined metal production up 27%
- Integrated zinc metal production up
10%
- EBITDA up 6% to Rs 1,506 Crore
Mr. Agnivesh Agarwal (Chairman, Hindustan Zinc) – “We
delivered growth on all fronts in the quarter and are committed to
consistently deliver superior performance and maintain our
leadership position.”
Financial
Summary
(In Rs Crore, except as stated)
*financial and production numbers are
rounded-off;
Q1 Q4 Particulars
2014 2013 Change
2013
Net Sales/Income from Operations
Zinc1
1,986 1,816 9% 2,655
Lead
402 342 18% 443
Silver
408 388 5% 611
Others
143 167 -14% 141
Total
2,939 2,713 8% 3,850
EBITDA
1,506 1,426 6% 2,127
Profit
After Taxes 1,660 1,581 5%
2,166
Earnings per Share (Rs) 3.93 3.74
5% 5.13
Mined Metal Production ('000 MT)
238 187 27% 260
Refined Metal
Production ('000 MT)
Total Refined Zinc
174 161
8% 182 - Refined Zinc – Integrated
173
157 10% 181 Total Refined Lead2
33 31 5% 35 - Refined Lead – Integrated
29 29 1% 32 Total Refined
Saleable Silver3 (in MT)
96 73 31%
108 - Refined Saleable Silver – Integrated
77
71 9% 91 Wind Power (in million units)
162 182 -11% 79
Zinc CoP without
Royalty (Rs / MT) 46,765 45,759
2%
44,901 Zinc CoP without Royalty ( $ /
MT) 836 844 -1%
829
Zinc LME ($ / MT) 1,840 1,928
-5% 2,033
Lead LME ($ / MT)
2,049 1,974 4% 2,301
Silver LBMA ($
/ oz.) 23.1 28.3 -18% 30.1
USD-INR 55.9 54.2 3% 54.2
(1) Including Zinc concentrate sale of nil in Q1 FY 2014 as
compared to nil in corresponding prior quarter and 61,097 MT MIC in
Q4 FY 2013 (2) Including captive consumption of 1,644 MT in Q1, as
compared with 1,641 MT in corresponding prior quarter and 1,777 MT
in Q4 FY 2013 (3) Excluding captive consumption of 8.8 MT in Q1, as
compared with 8.6 MT in corresponding prior quarter and 9.2 MT in
Q4 FY 2013
Operational Performance
Mined metal production was 237,825 MT in Q1, as compared with
186,642 MT in the corresponding prior period. The increase was in
line with our plan to deliver 1.0 million MT mined metal production
for the year.
Integrated production of refined zinc was up 10% y-o-y to
173,000 MT in Q1 on higher smelter utilization rate. Integrated
production of refined lead was flat at 29,110 MT. Integrated
saleable silver production was up 9% to 77 MT in Q1 on higher
contribution from Sindesar Khurd and Zawar mines.
Financial Performance
Revenues were up 8% to Rs. 2,939 Crore, compared with the
corresponding prior quarter. The increase was driven by higher
sales volume and rupee depreciation, partially offset by lower
metal prices. EBITDA for the quarter was Rs 1,506 Crore, up 6% on
higher sales, partially offset by higher operating costs. Net
profit for the quarter was up by 5% to Rs. 1,660 Crore.
The zinc metal cost of production before royalty during the
quarter was Rs. 46,800 per MT ($836), 2% higher in Rupee and 1%
lower in USD terms from a year ago. The increase was primarily due
to lower sulphuric acid credits and higher excavation costs,
partially offset by lower coal price, lower specific coal
consumption and benefits of higher volume.
Liquidity and investment
The Company follows a conservative Investment Policy and invests
in high quality debt instruments & debt mutual funds and fixed
deposit with banks. As on 30 June 2013, the Company had cash and
cash equivalents of Rs. 22,365 Crore, out of which Rs. 14,743 Crore
was invested in debt mutual funds, Rs. 2,217 Crore in bonds and Rs
5,398 Crore were in fixed deposits with banks.
For further information, please contact:
HZL Investor Relation
hzl.ir@vedanta.co.in
+91 22 6646 1531
About Hindustan ZincHZL is the world’s largest integrated
producer of Zinc-Lead. It has a metal production capacity of over
1.0 million MT per annum with its primary smelter operations
situated in Chanderiya, Debari and Dariba. HZL has Lead-Zinc mines
in Rampura Agucha, Sindesar Khurd, Rajpura Dariba and Zawar, all in
Rajasthan. The Company is a subsidiary of the NYSE listed, Sterlite
Industries (India) Limited (NYSE: SLT) and London listed FTSE 100
diversified metals and mining major, Vedanta Resources plc.
DisclaimerThis 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 behavior 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.
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