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Hindustan Zinc

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Hindustan Zinc Limited
Company typePublic
Industry
Founded1966; 58 years ago (1966)
HeadquartersUdaipur, Rajasthan, India
Area served
India
Key people
Products
RevenueDecrease₹30,006 crore (US$3.6 billion) (2024)[2]
Decrease₹10,307 crore (US$1.2 billion) (2024)[2]
Decrease₹7,759 crore (US$930 million) (2024)[2]
Total assetsDecrease₹33,895 crore (US$4.1 billion) (2024)
Total equityIncrease₹15,195 crore (US$1.8 billion) (2024)
Number of employees
23,796 (including Contractuals) (2024)
ParentVedanta Limited
(64.92%)[3]
Government of India (35.08%)
Websitehzlindia.com

Hindustan Zinc Limited (HZL) is an Indian integrated mining and resources producer of zinc, lead, silver and cadmium. It is a subsidiary of Vedanta Limited.[4] Earlier it was a Central Public Sector Undertaking, sold by Government of India to Vedanta Limited when Atal Bihari Vajpayee and Bharatiya Janta Party Government was in power in the year 2003. HZL is the world's second largest zinc producer.[5]

History

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See also: Disinvestment of Public Sector Units in India

Hindustan Zinc Limited was incorporated from the erstwhile Metal Corporation of India on 10 January 1966 as a Public Sector Undertaking (PSU).

In 2001, as part of the Government of India's disinvestment program of loss-making PSUs, the company was put up for sale.[6][7]

In April 2002, Sterlite Opportunities and Ventures Limited (SOVL) made an open offer for acquisition of shares of the company; consequent to the disinvestment of Government of India's (GOI) stake of 26% including management control to SOVL and acquired additional 20% of shares from public, pursuant to the SEBI Regulations 1997. In August 2003, SOVL acquired additional shares to the extent of 18.92% of the paid up capital from GOI in exercise of call option clause in the share holder's agreement between GOI and SOVL.[citation needed]

With the above additional acquisition, SOVL's stake in the company went up to 64.92%. Thus GOI's stake in the company now stands at 29.54%. SOVL was merged with Sterlite Industries India Ltd in April 2011.[8]

Sterlite Industries merged with Sesa Goa Ltd to form Sesa Sterlite Limited in August 2013. Sesa Sterlite was renamed to Vedanta Limited in April 2015.[9] [better source needed] Hindustan Zinc is a direct subsidiary of Vedanta Limited.

Operations

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Mining

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HZL operates the world's third largest open-pit mine, and the world's largest zinc mine in Rampura Agucha, Rajasthan. Other mines owned by HZL are located in Rajpura and Dariba, Sindesar Khurd, Kayad and Zawar, all in Rajasthan.[citation needed]

Smelting

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HZL operates Zinc and Lead smelters and refineries at Chanderiya (Chittorgarh), Debari (Udaipur) & Dariba (Rajsamand) in Rajasthan with total zinc and lead production capacity of 10 lakh tonnes. A smelting facility was established at Pantnagar in Uttarakhand. It was initially intended to serve as a smelting facility for Silver production, but later Zinc and Lead melting and casting plants were also established here. The total metal production was 8,80,000 tonnes for year 2014–2015.[10][better source needed] It also has zinc smelter in Visakhapatnam, Andhra Pradesh, where operations have been suspended since February 2012.[11][better source needed]

Sports

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Zinc Football Academy is an Indian professional football academy club based in Zawar a mining town in Udaipur, Rajasthan. The club competes in R-League A Division, the top-tier league of the state. The club is owned by Hindustan Zinc Limited Group. Zinc FA is the current champions of R-League Season.[citation needed]

References

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  1. ^ "Hindustan Zinc Limited – Products". www.hzlindia.com. Archived from the original on 27 September 2021. Retrieved 27 September 2021.
  2. ^ a b c "Financial Results" (PDF). 19 April 2024. Retrieved 20 April 2024.
  3. ^ "Latest Shareholding Pattern – Hindustan Zinc Ltd". trendlyne.com. Archived from the original on 14 August 2021. Retrieved 2 August 2020.
  4. ^ "Latest Shareholding Pattern - Hindustan Zinc Ltd". Trendlyne. Archived from the original on 14 August 2021. Retrieved 30 July 2021.
  5. ^ "Beneath The Surface: How Hindustan Zinc Grew To Become The World's Second Largest Zinc Producer". Forbes India. Archived from the original on 25 September 2020. Retrieved 2 August 2020.
  6. ^ "Winners and losers of HZL privatisation - Times of India". India Times. Archived from the original on 3 January 2013. Retrieved 2 February 2022.
  7. ^ "Sterlite seeks majority stake in Hindustan Zinc". Rediff. Archived from the original on 15 September 2005. Retrieved 2 August 2020.
  8. ^ "Directors' Report FY 2013 of Sterlite Industries". NDTV. Archived from the original on 25 April 2016. Retrieved 10 April 2016.
  9. ^ "Pg 77 of Vedanta Limited Annual Report FY 2015" (PDF). Archived from the original (PDF) on 22 April 2016. Retrieved 10 April 2016.
  10. ^ "Annual Report FY 2015 Pg 11" (PDF). Archived (PDF) from the original on 24 January 2016. Retrieved 10 April 2016.
  11. ^ "Annual Report FY 2013 Pg 65" (PDF). Archived (PDF) from the original on 24 September 2013. Retrieved 10 April 2016.
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