Hindustan Zinc Limited has announced significant changes to its Board of Directors following directives from the Ministry of Mines. The company informed stock exchanges on January 19, 2026, about the appointment of a new government nominee director and the cessation of the previous appointee.

New Director Appointment

The Ministry of Mines has appointed Mr. Sandeep Vasant Kadam as Part-time Official Director on Hindustan Zinc's board. The appointment details are outlined below:

Mr. Kadam's appointment was formalized through letter no. 31/3/2020-Met. 1 dated January 19, 2026, from the Ministry of Mines, with the appointment taking immediate effect.

Director Cessation

Simultaneously, Mr. Dinesh Mahur ceased to be a director of the company. The cessation details are as follows:

Mr. Mahur's cessation was also communicated through the same Ministry of Mines letter, effective immediately.

Regulatory Compliance

The company has disclosed these changes under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Hindustan Zinc stated that it is taking necessary action to complete the requisite formalities related to these board changes.

The disclosure was signed by Aashhima V Khanna, Company Secretary & Compliance Officer, and communicated to both BSE Limited and National Stock Exchange of India Limited on January 19, 2026. The company indicated that further disclosures regarding the completion of formalities will be submitted in due course.

Hindustan Zinc Limited reported steady improvement in production volumes during the third quarter, with mined and refined metal output rising on higher ore production, debottlenecking initiatives and improved plant availability. The company achieved its highest ever third quarter mined metal and refined metal production since transitioning to underground mining operations, with particular focus on silver production amid a strong price rally.

Record Third Quarter Performance

The company's Q3 performance showcased mixed results across production parameters:

Mined metal production reached 276 kt, marking a 4.00% increase year-on-year, driven by higher ore production. Saleable metal production also rose 4.00% from the previous year to 270 kt, reflecting improved refined output during the quarter.

Silver Production Highlights Amid Price Rally

Silver output during the quarter stood at 158 tonnes, demonstrating a notable 10.00% quarter-on-quarter increase in line with lead production trends, despite a marginal 1.00% year-on-year decline. The sequential growth in silver production comes at a time when silver prices are expected to remain above $50.00 per ounce, creating a compelling growth narrative for the company.

Analysts project that silver's contribution to operating revenue will increase significantly from 28% to 42% over the coming years, highlighting the strategic importance of the company's silver production capabilities. As one of the top five silver producers globally, Hindustan Zinc is well-positioned to benefit from the ongoing price rally.

Operational Performance and Market Position

Refined zinc production demonstrated robust growth of 8.00% year-on-year to 221 kt, supported by the commissioning of debottlenecking projects at the Chanderiya and Dariba smelters, ramp-up of the 160 ktpa roaster at Debari, and better operational availability across plants.

Refined lead production declined 11.00% year-on-year to 49 kt, attributed to pyro operations being conducted on lead-only mode in the corresponding period last year and lower availability at pyro plants during the quarter. However, quarter-on-quarter performance showed a 9.00% improvement.

Global Market Leadership

Hindustan Zinc maintains its position as the world's largest integrated zinc producer, supplying to more than 40 countries and holding approximately 77% market share of the primary zinc market in India. The company's operations span technologically advanced underground zinc-lead mines including Rampura Agucha, Sindesar Khurd, Zawar, Kayad and Rajpura Dariba.

Wind power generation reached 50 million units, marking a 5.00% year-on-year increase aided by favourable wind velocity conditions, demonstrating the company's commitment to sustainable energy practices.