Hindustan Zinc Limited , a leading integrated producer of zinc, lead, and silver, has announced significant changes to its board of directors, including a new government nominee and other appointments.

New Government Nominee Director

The Ministry of Mines has appointed Ashish Chatterjee as part-time Official Director, replacing Nirupama Kotru. Chatterjee, who serves as Additional Secretary & Financial Advisor at the Ministry of Steel with additional charge of Ministry of Coal, Mines and Minority Affairs, was appointed as Government Nominee Director effective July 25, 2025. His appointment will continue until further orders from the Ministry. Kotru's role as Government Nominee Director ceased on the same date.

New Addition to the Board

Anoop Kumar Mittal has been appointed as an Additional Director designated as Non-Executive Independent Director for a two-year term, from August 1, 2025, to July 31, 2027. Mittal brings over four decades of experience in the construction sector, with expertise in:

• Civil engineering
• Consultancy
• Real estate development
• Mergers & acquisitions
• Project management

Mittal's career includes serving as the Chairman & Managing Director of NBCC (India) Limited from 2013 to 2019. Under his leadership, NBCC achieved the prestigious Navratna status in 2014. He holds a bachelor's degree in civil engineering from Thapar Institute of Engineering & Technology, Punjab University, and has been conferred with an honorary doctorate from Singhania University.

In addition to his board position, Mittal will also serve as the Chairperson and Member of the Sustainability & ESG Committee, effective August 1, 2025.

Re-appointment of Independent Director

The company has re-appointed Pallavi Joshi Bakhru as a Non-Executive Independent Director for a second two-year term, from August 10, 2025, to August 09, 2027. Bakhru, a chartered accountant with over 30 years of experience, is recognized for her expertise in tax and regulatory matters.

Currently leading the Private Client Service offering at Grant Thornton Bharat, Bakhru was acknowledged as one of the Top 10 Women in Tax in India by the International Tax Review in 2015. Her areas of specialization include:

• Corporate tax
• Litigation
• Tax structuring
• Regulatory matters pertaining to FEMA

Bakhru will also take on additional responsibilities within the company's committees. Effective August 1, 2025, she will serve as:

• Chairperson and Member of the Nomination and Remuneration Committee
• Member of the Audit & Risk Management Committee
• Member of the Corporate Social Responsibility Committee

Departure of Long-serving Director

As these new appointments take effect, Hindustan Zinc will bid farewell to Akhilesh Joshi, whose tenure as Non-Executive Independent Director will conclude on July 31, 2025. This marks the end of Joshi's second and final term on the board.

Shareholder Approval and Compliance

Both the appointment of Mittal and the re-appointment of Bakhru are subject to shareholder approval at the upcoming Annual General Meeting. The company has confirmed that both directors satisfy the criteria of independence prescribed under the Companies Act, 2013 and SEBI Listing Regulations.

These board changes reflect Hindustan Zinc's commitment to maintaining strong corporate governance and bringing fresh perspectives to its leadership team. As the company continues to navigate the dynamic metals and mining sector, these appointments are expected to contribute to its strategic direction and sustainable growth.

Hindustan Zinc , India's largest integrated zinc producer, has reported a strong performance in the first quarter, achieving its highest-ever Q1 mine metal production despite facing headwinds from softened commodity prices.

Record Production and Cost Efficiency

The company delivered a record-breaking mine metal production of 265,000 tons in Q1, marking its highest-ever first-quarter output. Notably, Hindustan Zinc also achieved its lowest quarterly cost of production at $1,010.00 per ton since transitioning to underground mining operations, demonstrating significant operational efficiency.

Financial Performance

Despite the challenging market conditions, Hindustan Zinc reported a revenue of Rs. 7,771.00 crores for the quarter, down 4% year-on-year. The decline was primarily attributed to lower zinc and lead prices, partially offset by higher silver prices. The company's EBITDA stood at Rs. 3,860.00 crores, maintaining a robust margin of 50%. Profit after tax reached Rs. 2,234.00 crores.

Operational Highlights

• Refined metal production was 250,000 tons, impacted by planned maintenance activities.
• Silver production stood at 149 metric tons, contributing significantly to overall profitability.
• The zinc alloy plant achieved a record quarterly production of 5,000 tons.
• Renewable energy usage increased to 19% of total power consumption, up from 13% in the previous year.

Strategic Initiatives and Expansion Plans

Hindustan Zinc's board has approved a 250,000 tons per annum integrated metal capacity expansion with a capital expenditure of Rs. 12,000.00 crores. This expansion is set to increase the company's refined metal capacity to 1.38 million tons per annum and mining capability to 1.5 million tons per annum.

The company has also secured Letters of Intent (LOIs) for three critical mineral blocks:

1. Potash in Rajasthan (1,841 hectare block)
2. Rare Earth Elements in Uttar Pradesh (201 hectare block)
3. Tungsten in Andhra Pradesh (308 hectare block)

These acquisitions align with India's goal of achieving critical mineral security and resource nationalism.

Sustainability and Innovation

Hindustan Zinc continues to make strides in sustainability:

• Achieved 3.32x water positivity
• Launched ambitious "Sustainability Goals 2030"
• Increased domestic coal utilization to 55%

The company is also actively engaging with over 40 technology startups on more than 60 different projects to drive innovation-led transformation across its operations.

Market Outlook and Future Prospects

While global economic uncertainties persist, India remains a bright spot with strong domestic momentum. Hindustan Zinc is well-positioned to meet the rising domestic and global demand for zinc, supported by its expansion plans and strategic focus on portfolio diversification.

As the company progresses with its growth projects, including the commissioning of a new 160,000 tons per annum roaster at Debari, Hindustan Zinc remains confident in achieving its full-year guidance and creating long-term value for all stakeholders.

With its strong operational performance, strategic expansions, and focus on sustainability, Hindustan Zinc is poised for continued growth in the evolving global metals market.