Corporate Radar – Hindustan Zinc’s CEO Arun Mishra speaks about Q2 results, business outlook
In today’s edition of Corporate Radar, Zee Business Executive Editor Swati Khandelwal speaks with Hindustan Zinc's CEO Arun Mishra. The company posted an 8% yoy rise in its September quarter revenues while registering a 4% on-year net profit
In today’s edition of Corporate Radar, Zee Business Executive Editor Swati Khandelwal speaks with Hindustan Zinc Limited’s Chief Executive Officer (CEO) Arun Mishra. The company posted an 8 per cent year-on-year (yoy) rise in its September quarter revenues while registering a 4 per cent on-year net profit. Mishra speaks about the Q2FY22 results, business and company outlook.
The margins were up at 54 per cent.
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The Q2 quarter production was 4 million tn which was up by 10 per cent sequentially, despite this being a monsoon quarter with high humidity and temperature challenges, the CEO said. The company managed to create requisite infrastructure at the right time. Covid-19 related disruptions were temporary setbacks, and the company would have done even better in the absence of these, he added.
He assured that the company will be able to meet its production over the next two quarters which will in line with the guidance given by HZL.
HZL, which is also the biggest producer of silver in India produced 152 tn during the quarter which is lower from the Q1 quarter by almost 5 per cent. This is down by almost 25 per cent from the last year, Mishra said. The grade of silver being mined currently is low. The production is likely to improve over the third quarter as the company will be mining from a different place.
There are no structural issues in the mining of silver, he further said.
The company accounts for 10-12 per cent of the domestic consumption while the rest is imported.
Indian silver accounts for 60-70 per cent for the jewellery segment while almost 30 per cent goes to industrial production.
India’s thrust on green energy will be a key driver for the solar panel segment which could go up to 50 per cent. He said that the outlook is positive.
While the metal market follows a cyclic trend, the spike this time is triggered by some event, Mishra said. Among major ones, the price increase in coal, China’s push on reducing emissions.
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आज देखिए नतीजों और आउटलुक पर #HindustanZinc के
CEO अरुण मिश्रा से स्वाति खंडेलवाल की खास बातचीत..#CorporateRadar | #ResultsOnZee | #Q2FY22 @Hindustan_Zinc | @CEO_HZL | @SwatiKJain https://t.co/T1iyTM9ua3
— Zee Business (@ZeeBusiness) October 25, 2021
He did not see these as sustainable events. The company has its focus on producing volumes over the next two quarters, he further said. Any upside in price on the London Metal Exchange (LME) will only be a Diwali bonus for the company, Mishra said.
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