Hindustan Zinc news, Hindustan Zinc share price: Vedanta subsidiary Hindustan Zinc's shares jumped on Wednesday, April 2, after the company released its production numbers for the quarter as well as the year ended March 31, 2024. The stock of Udaipur-headquartered HZL, a producer of zinc, lead, silver, commercial power and alloys, rose nearly five per cent to as high as Rs 330.3 during the session on NSE.

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At close, HZL shares settled at Rs 328, up 3.91 per cent, continuing to rise for the third trading session in a row.

After market hours on Tuesday, the firm reported the highest-ever quarterly refined metal production at 273 kt, up 6 per cent sequentially on account of better plant availability and up 1 per cent on a year-on-year (YoY) basis.

Here are some highlights of HZL's quarterly (4QFY24) production numbers, as per a regulatory filing:

  • Refined zinc production at 220 kt, up 9 per cent QoQ and 2 per cent YoY 
  • Refined lead production at 53 kt, down 5 per cent QoQ and 2 per cent YoY
  • Mined metal production at 299 kt, up 11 per cent QoQ, driven by a mix of improved mined metal grades and higher ore production across mines
  • Saleable silver production at 6.1 moz, up 4 per cent YoY on account of WIP depletion in the current quarter and down 4 per cent QoQ in line with lead metal production partly offset by WIP depletion

Here are some highlights for the financial year 2023-24 (FY24): 

  • Best-ever mined metal production at 1,079 kt, up 2 per cent YoY, driven by improved mined metal grades
  • Refined metal achieved record production
  • Silver recorded the highest volume in FY24 in line with management’s operational and financial strategy, at 24.0 moz up 5 per cent YoY
  • Refined lead production at 216 kt, up 3 per cent YoY

In a separate development, Vedanta Ltd, the promoter and holding Company of Hindustan Zinc Ltd (HZL), received an order from the office of the Assistant Commissioner, Tirunelveli, Tamil Nadu, confirming the demand for GST related to input tax credit availed.

The demand issued Rs 1,86,41,244 including applicable interest and penalty, according to a filing. 

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