Dear Stakeholders,
Just over a year ago, I had the privilege of taking over as Chairperson
of Hindustan Zinc. Today, as I share the Company's performance for FY __-, I feel
humbled to be a part of a remarkable journey of sustainable growth and holistic
stakeholder value creation. Hindustan Zinc is a national asset and it occupies pride of
place among global peers. We stand for all round excellence. Today, our market
capitalisation is the highest among all mining & metals companies in India. We have
had a record-breaking year in metal production. We have optimised costs and maximised
efficiencies in a year in which global zinc prices were moderate. Beyond business, we have
emerged as a role model in ESG, rated the best in the world in our category of business.
Our CSR initiatives touched the lives of millions in our communities, transforming lives
and livelihoods.
All of this is made possible by your unwavering trust and the dedicated
hard work of our people. On behalf of the Board, I would like to thank all of you for your
continued support.
RAISING THE BAR OF EXCELLENCE
FY __-was an exceptional year for Hindustan Zinc. We witnessed a
massive scale-up in our operational efficiencies and a remarkable reduction in the cost of
production. We once again delivered industry-leading production growth, with the best-ever
annual metal production.
Further, it is a matter of immense pride that Hindustan Zinc is now the
third largest silver producer globally, with the highest silver annual production till
date, up ?% year-on-year. During the year, we also moved into the first decile of the
global zinc mines cost curve and posted the lowest annual cost of production in the last
three years at US$ >,>>per tonne.
These remarkable feats have been made possible because of the expertise
and experience of the stellar team at Hindustan Zinc. Our strategic focus on cost became a
key driver in maintaining margins and delivering stakeholder value in the face of strong
headwinds.
PUTTING SAFETY FIRST
We believe our people are integral to the growth of the Company. With
best-in-class progressive people practices, Hindustan Zinc has won several awards
including the prestigious CII National HR Excellence Award, and the Apex India
Occupational Health and Safety Award __.
Safety is a key priority across the organisation, and I am happy to
announce six consecutive quarters of fatality-free operations. This is a feat we will
strive to maintain at all costs, and we are continuously taking measures to enhance our
safety proposition across all hierarchical levels. We have in place several initiatives
and programmes to sensitise our employees, business partners and the surrounding
communities on the subject. The well-deserved recognition of Hindustan Zinc at the
prestigious International Safety Awards by the British Safety Council is an
acknowledgement of our best-in-class safety standards and practices. It is our constant
endeavour to promote people safety across all our facilities through well-established
policies, and the latest technologies and upgrades.
Safety is a key priority across the organisation, and I am happy to
announce six consecutive quarters of fatality-free operations. This is a feat we will
strive to maintain at all costs, and we are continuously taking measures to enhance our
safety proposition across all hierarchical levels.
ENHANCING INCLUSIVITY & DIVERSITY
Diversity and inclusivity are key facets in our journey of building a
progressive workplace, where every employee feels valued, supported, and empowered to
excel.
With women employees, including engineers, Hindustan Zinc is pioneering
the participation of women in a male-dominated sector like mining. Currently, we have
c.__% women in executive positions and _>% in the Executive Committee of the Company.
Another example of the indomitable spirit of the women of Hindustan Zinc, is the first all
women underground mining rescue team of India, which is now ready to compete in
international competitions. We now also have the second team at Hindustan Zinc itself.
I am also pleased to share that Hindustan Zinc has been conferred the
prestigious _rd National Transgender Award , also known as
‘Ardhnarishwar' – a commendation of our efforts in breaking societal
barriers within the workplace. The award also validates the Company's
industry-leading initiatives like the Zinclusion programme, Gender Affirmation Policy, and
comprehensive Parenthood Policy, aimed at ensuring a fair and equitable work environment,
free from bias and discrimination.
SURGING SUSTAINABLY AHEAD
Sustainability, for us at Hindustan Zinc, is the overarching ethos of
our business strategy and actions. The Company's ranking as #> globally and the
(A-) Leadership Band scores received from the Carbon Disclosure Project (CDP) for climate
change and water security excellence are examples of global recognition received for our
sustainability efforts. As the only Indian company in the mining sector with validated and
approved SBTi targets in alignment with the >.?C Paris Agreement goal, Hindustan
Zinc has emerged as a torchbearer for the industry's long-term sustainable growth.
With the commissioning of India's first fumer and the remarkable
progress made on our renewable energy power delivery agreement (PDA), we touched new
milestones in our journey towards green mining. The deployment of EV trucks and
LNG-powered trucks made us among the first in the industry to pioneer sustainable
logistics. We are committed to attaining net-zero carbon emissions by ? or sooner and
will continue to adopt innovative and impactful tools to steer this journey.
GRASSROOTS IMPACT
The deep sense of purpose and responsibility that is embedded in the
organisational fabric of Hindustan Zinc finds many manifestations, with our Corporate
Social Responsibility (CSR) charter being an important facet of the same. We make regular
investments in growing the expanse and reach of our community development programmes to
ensure more inclusive and sustainable growth for the nation. We have now expanded our CSR
footprint to over _,? villages, benefitting >.million people, through projects in the
areas of women empowerment, sustainable livelihood, skill development, healthcare, safety,
sports, and culture.
During FY __-, we undertook an important initiative to foster economic
growth and bring financial inclusion into the rural community, through an MoU with the
India Post Payments Bank, ensuring financial assistance for over _.? lakh accounts. The
Zinc Football Academy (ZFA), which remains a crown jewel of our CSR efforts, continued to
earn accolades, being awarded the topmost Elite _-star rating by the All India Football
Federation. ZFA's Mohammed Kaif made us proud by playing a pivotal role in
India's victorious campaign at the SAFF Under->Championship in Bhutan.
With women employees, including engineers, Hindustan Zinc is pioneering
the participation of women in a male-dominated sector like mining.
GROWTH OUTLOOK
The multitude of recognitions and awards earned by Hindustan Zinc
during the year bear testimony to the success of our focussed investments and initiatives
to drive India's economic and social growth. Forging ahead, our efforts will be
centred around building our capabilities and capacities through innovative strategies and
actions, backed by our unwavering focus on responsible and sustainable growth.
The world is undergoing an energy transition and the climate-friendly
technologies of the future are highly mineral intensive. Our Company and the mining sector
have a big role to play to support the economy of the future. India too is undergoing a
massive transformation and soon it will be the third largest economy in the world. Demand
for minerals is growing in double digits. Mining and metals is a sunrise sector once
again. At Hindustan Zinc, we are committed to be future-ready, for India and for the
world. We look forward to your continued support in all our endeavours.
| Sincerely, |
| Priya Agarwal Hebbar |