HZL market cap up nearly 477 times to Rs 2.8 trn, says Chairperson Hebbar

Vedanta group firm Hindustan Zinc Ltd (HZL) on Monday said its market capitalisation grew by nearly 477 times to reach about Rs 2.8 trillion from Rs 600 crore two decades ago.

Speaking during the 58th Annual General Meeting on Monday, the company's Chairperson Priya Agarwal Hebbar said Hindustan Zinc's market capitalisation at about Rs 2.8 trillion is the highest among all metal and mining peers in the country.

"This marks a growth of nearly 477 times in market capitalisation from a mere Rs 600 crore two decades ago," she said.

In FY24, she said, the company achieved significant improvements in its operational efficiencies and saw a remarkable reduction in the cost of production.

"We advanced into the first decile of the cost curve and recorded the lowest annual production cost in the past three years at USD 1,117 per tonne," she said.

Hindustan Zinc is the world's second-largest integrated zinc producer and the third-largest silver producer. The company supplies its products to more than 40 countries and holds a market share of about 75 per cent of the primary zinc market in India.