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Hindustan Zinc Limited; Results For The Third Quarter And Nine Months Ended 31 December 2012

Hindustan Zinc Limited:

Mr. Agnivesh Agarwal (Chairman, Hindustan Zinc) – “I am pleased to announce that the Board of Directors has approved the next phase of growth projects, which will deliver superior performance in future and create long-term value for stakeholders”.

Hindustan Zinc Limited (“HZL” or the “Company”) today announced its unaudited results for the third quarter (“Q3”) and nine months (“nine months period”) ended 31 December 2012.

Unaudited Financial Summary

      (In Rs Crore, except as stated)
      Quarter Ended       Nine-month Ended
31st December 31st December
    2012     2011     Change       2012     2011   Change
Net Sales/Income from Operations              
Zinc 1,975 2,004 -1% 5,634 6,144 -8%
Lead 371 308 20% 1,054 726 45%
Silver 645 257 151% 1,482 823 80%
Others 149 178 -16% 505 469 8%
Total

3,140

2,747 14% 8,675 8,162 6%
 
Cash Profit (Net Profit + Depreciation) 1,790 1,436 25% 5,259 4,557 15%
 
Profit After Taxes 1,613 1,274 27% 4,734 4,113 15%
 
Earnings Per Share (Rs.) 3.82 3.01 27% 11.20 9.73 15%
 
Production - Mined Metal ('000 tonnes) 233 209 11% 610 607 0%
Zinc & Lead
 
Production - Refined Metal ('000 tonnes)
Total Zinc 171 191 -10% 495 569 -13%
- Fully integrated Zinc 168 188 -10% 479 563 -15%
Total Lead 1 32 29 11% 90 62 45%
- Fully integrated Lead 22 25 -11% 75 58 29%
Total Silver 2 (tonnes) 117 58 103% 290 154 89%
- Fully integrated Silver 62 58 8% 222 154 44%
 
Metal Prices and Exchange Rate
Zinc LME (USD/MT) 1,947 1,897 3% 1,920 2,123 -10%
Lead LME (USD/MT) 2,199 1,983 11% 2,051 2,328 -12%
Silver LBMA (USD / oz) 32.7 31.9 3% 30.7 36.2 -15%
INR / USD 54.1 51.0 6% 54.5 47.2 16%

(1) Includes captive consumption of 1,647 tonnes in Q3 FY2013 vs. 1,730 tonnes in Q3 FY2012, and 4,723 tonnes in ‘nine months period’ FY2013 vs. 4,469 tonnes in ‘nine months period’ FY2012.

(2) Includes captive consumption of 8,440 Kgs. in Q3 FY2013 vs. 9,182 Kgs. in Q3 FY2012, and 24,606 Kgs. in ‘nine months period’ FY2013 vs. 23,572 Kgs. in ‘nine months period’ FY2012.

Operational Performance

Mined metal production in Q3 was up 11% at an all time high of 233kt, compared with the corresponding prior quarter. This was 22% higher sequentially and we expect to close the year ahead of last year’s production, in accordance with our earlier guidance.

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