Hindustan Zinc jumped 4.21% to Rs 118.75 on BSE after net profit spurted 53.29% to Rs 2165.81 crore on 23.21% increase in total income to Rs 4320.47 crore in Q4 March 2013 over Q4 March 2012.
The result was announced during trading hours today, 25 April 2013.
Meanwhile, the BSE Sensex jumped 227.49 points, or 1.19%, to settle at 19,406.85.
On BSE, 5.97lakh shares were traded in the counter as against an average daily volume of 1.46 lakh shares in the past one quarter.
The stock hit a high of Rs 120.75 and a low of Rs 112.50 so far during the day. The stock had hit a 52-week high of Rs 146.80 on 18 December 2012. The stock had hit a 52-week low of Rs 106.90 on 17 April 2013.
The stock had underperformed the market over the past one month till 23 April 2013, rising 0.22% compared with the Sensex's 2.37% rise. The scrip had also underperformed the market in past one quarter, falling 10.35% as against Sensex's 4.23% fall.
The large-cap company has an equity capital of Rs 845.06 crore. Face value per share is Rs 2.
Hindustan Zinc's net profit rose 24.85% to Rs 6899.48 crore on 13.78% increase in total income to Rs 14731.99 crore in the year ended March 2013 over the year ended March 2012.
Mined metal production rose 16% to 260kt in Q4 March 2013 over Q4 March 2012. Mined metal production rose 5% to 870kt in the year ended March 2013 over the year ended March 2012, the company said in a statement.
The company said that higher revenues in Q4 March 2013 were driven by higher sales volume including zinc MIC sales of 61 kt and rupee depreciation. Revenue for the year ended March 2013 increased primarily on account of increased silver sales and rupee depreciation, partially offset by lower metal prices and zinc volumes, it added.
The zinc metal cost, without royalty, during the quarter was Rs 44900 per MT ($829), 8% higher in rupee terms and flat in dollar terms from a year ago. The cost for the year ended March 2013 was higher by 14% in rupee terms and flat in dollar terms at Rs 45500 per MT ($835), compared with the previous year. The increase was due to higher strip ratio at Rampura Agucha and lower acid credits, partially offset by lower power costs.
During the year, the company announced its next phase of growth plan, which will increase its mined metal production capacity to 1.2 mtpa. Rampura Agucha underground mine and Kayad mine produced development ore in the second half of the fiscal year ended March 2013 (FY13) and will start commercial production in fiscal year 2014 (FY14).
In FY13, there was a gross addition of 24.6 million tonnes to reserves and resources, prior to a depletion of 8.6 million tonnes. Total reserves and resources at 31 March 2013 were 348.3 million tonnes containing 35.1 million tonnes of zinc-lead metal and 910 million ounces of silver. The company said its mine life continues to be 25+ years.
In its outlook, the company said that mined metal production in FY14 is projected to increase by 15% to 1.0 mtpa. Integrated saleable silver production is projected to be about 360 tonnes in FY14.
As on 31 March 2013, the company had cash and cash equivalents of Rs 21479 crore.
Hindustan Zinc is one of the world's largest integrated producers of zinc-lead and a leading producer of silver globally. It has a metal production capacity of over one million tonnes per annum with its key lead-zinc mines in Rampura Agucha and Sindesar Khurd; and modern smelting complexes in Chanderiya and Dariba. The company is a subsidiary of the NYSE listed, Sterlite Industries (India) and London listed FTSE 100 diversified metals and mining major, Vedanta Resources plc.
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