Hindustan Zinc , India's sole integrated zinc producer, has once again secured its position as the world's most sustainable company in the Metals & Mining sector, according to the S&P Global Corporate Sustainability Assessment (CSA) 2023. This marks an impressive hat-trick for the company, retaining the top spot for the third consecutive year.

Record-Breaking Performance

Hindustan Zinc achieved an industry-leading score of 90 points out of 100 in the CSA 2023, surpassing 235 participating companies worldwide. This score represents a significant improvement from last year's 86 points and stands as the company's highest CSA score in the past five years.

Key Highlights of Hindustan Zinc's Sustainability Efforts

Sustainable Initiatives and Innovations

1. EcoZen: Launched Asia's first low-carbon 'green' zinc brand, with a carbon footprint 75% lower than the global average.
2. Circular Economy: Achieved over 30% of total water usage through recycled, low-quality treated-sewage water.
3. Decarbonization: Implementing a 530 MW Power Delivery Agreement and adopting electric and low-emission fuel vehicles.
4. Smart Mining: Utilizing digital efficiency systems to enhance operational sustainability.

Leadership Perspective

Priya Agarwal Hebbar, Chairperson of Hindustan Zinc, commented on the achievement: "Being recognized as the world's most sustainable company in the Metals & Mining sector for the third consecutive year is a proud and humbling moment for all of us at Hindustan Zinc. This recognition reflects our deep-rooted commitment to ESG excellence and our relentless pursuit of responsible and inclusive growth."

Future Commitments

Hindustan Zinc has set ambitious targets for the future, including:

• Achieving Net Zero emissions by 2050 or sooner
• Continuing to champion global best practices in ESG
• Promoting transparency in ESG reporting

As a critical player in the energy transition metals sector, Hindustan Zinc's sustained leadership in sustainability showcases how Indian enterprises are shaping the future of responsible industry on a global scale.

Hindustan Zinc Limited (HZL), a prominent player in the Indian mining sector, has recently received a penalty order from tax authorities, prompting the company to take immediate action. This development highlights the ongoing regulatory challenges faced by major corporations in India's complex tax landscape.

Penalty Details

Hindustan Zinc has been served with a penalty order amounting to Rs 1,08,04,533, along with an additional tax demand and applicable interest. The order was issued by the Commissioner, Central Goods Service Tax-Udaipur, and relates to the company's availment of Cenvat credit on invoices issued between March 2011 and April 2011.

Key Information

Company's Response

Hindustan Zinc has stated its intention to file an appeal against this order. The company plans to approach the Appellate Authority within the prescribed time limit under the Excise Law. This proactive stance demonstrates the company's confidence in its position and its commitment to resolving the matter through proper legal channels.

Financial Impact and Outlook

Despite the penalty amount, Hindustan Zinc has expressed that it does not anticipate any material financial impact from this order. This statement suggests that the company may have strong grounds for its appeal or sufficient financial reserves to manage the potential liability.

Regulatory Compliance

The disclosure of this penalty order aligns with Hindustan Zinc's obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This transparency in reporting demonstrates the company's commitment to keeping its shareholders and the market informed about significant regulatory developments.

As the situation unfolds, stakeholders will be watching the progress of Hindustan Zinc's appeal and its potential implications for the company's financial position and regulatory standing.