India`s Hindustan Zinc sees strong 2025 growth on higher volumes, CEO says
Hindustan Zinc, India's biggest producer of the refined metal, will report strong revenue and profit growth in the fourth quarter and the upcoming fiscal year, supported by higher production and rising metal prices, CEO Arun Misra said.
The company, majority owned by metals-to-oil conglomerate Vedanta, on Tuesday reported third-quarter profit above analysts' estimates.
"We have gone through all our shutdowns and proprietary maintenance and all that in the first three quarters. We should be able to produce a stellar fourth quarter based on our numbers," Misra told Reuters in an interview.
A number of projects are being done to increase the efficiency and productivity of smelting operations in mines, which will drive growth in volumes, revenue and key profit metrics in the coming fiscal year, he said.
Domestic zinc prices rose during the third quarter, in tandem with global prices as China, the world's biggest producer of the refined metal, continued to face a supply crunch.
Misra expects zinc prices to rise to $2,850-$2,950 a ton in the coming days from $2,800 currently, and silver to trade between $30 and $31 per ounce.
Hindustan Zinc will also restart discussions with the India government about splitting the company into two units in the near-term, Misra said.
The government had rejected a similar proposal last year as the miner's largest minority shareholder was not convinced that such a move would boost shareholder value.
The company will also focus more on critical minerals in India and is open to buying assets in Southeast Asia or in neighbouring regions, Misra said.
($1 = 86.5010 Indian rupees)
