Hindustan Zinc Limited Results For The Second Quarter And Half Year Ended 30 September 2012
Liquidity and investment
As at 30 September 2012, the Company had cash and cash equivalents of Rs. 19,136 Crore. This includes Rs. 10,177 Crore in debt mutual funds, Rs. 1,663 in bonds and Rs. 7,275 Crore in fixed deposits with banks. The Company follows a conservative investment policy and invests in high quality debt instruments. Our investment portfolio is rated “very good” by CRISIL – the highest rating.
About Hindustan Zinc
HZL is one of the world’s largest integrated producers of Zinc-Lead and a leading producer of Silver globally. It has a metal production capacity of over one million tonnes per annum with its key Lead-Zinc mines in Rampura Agucha and Sindesar Khurd; and modern smelting complexes in Chanderiya and Dariba. HZL is focused on growth and long-term term sustainability on the back of its high-quality assets, long mine life of over 25 years and low cost base. 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.Disclaimer This 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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