Hindustan Zinc on Tuesday announced that the company has recorded its highest-ever quarterly refined metal production at 273 kt during the fourth quarter of FY24, up 6 per cent sequentially. The growth, it added, was on account of better plant availability. On-year basis, the Q4 growth was up 1 per cent in comparison to 269 kt during the same period last year.
Refined zinc production, it said, was at 220 kt, with a growth of 9 per cent QoQ and 2 per cent on-year as against 215 kt during the fourth quarter of FY23. Refined lead production was at 53 kt, down 2 per cent on-year from 54 kt during Q4FY23.
Meanwhile, the mined metal production for the quarter in review was at 299 kt, up 11 per cent from 271 kt last quarter. This was driven by a mix of improved mined metal grades and higher ore production across mines.
Hindustan Zinc recorded saleable silver production at 6.1 moz, up 2 per cent on-year as against 5.9 moz during the same quarter last year, on account of WIP depletion in the current quarter. It dropped by 4 per cent in comparison to 6.3 moz during Q3FY24 in line with lead metal production partly offset by WIP depletion.
For the full year, the company recorded its best-ever mined metal production at 1079 kt, up 2 per cent YoY, driven by improved mined metal grades. Refined metal recorded annual production at 1033 kt. Silver recorded the highest volume in FY24 in line with management’s operational and financial strategy, at 24.0 moz, reporting an increase of 5 per cent from 22.9 moz during FY23. Refined lead production was at 216 kt, up 3 per cent YoY.
In terms of wind power, the company reported Q4FY24 wind power generation at 61 MU, up 11 per cent sequentially and down 14 per cent on-year, depending upon wind velocity & seasonality impact.
A Vedanta Group company, Hindustan Zinc governs about ~80 per cent of the growing Zinc market in India with its headquarters in Udaipur along with Zinc-Lead mines and smelting complexes spread across Rajasthan.