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INTEGRATED ANNUAL REPORT 2022-23


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 * Hindustan Zinc
 * Value Creation
 * Operational Review
 * Environment, Social & Governance
 * Statutory Reports
 * Financial Statements
 * Glossary

A Company Rooted in Strengths How We Operate Our Business Celebrating the
Strength of our Operational Asset Base Centre of Excellence Towards Safe and
Secure Cyber Horizons Message from the Chairperson Q&A with the CEO Milestones
FY 2022-23
Key Performance Indicators Celebrating the Strength of our Capitals Touching New
Milestones in Value Creation Business Model Nurturing Stakeholder Relations
through Continual Engagement Addressing Material Issues on Our Journey to a New
Horizon Investing in Strategic Priorities to Touch More Milestones Managing
Capital Trade-Offs to Enable Stakeholder Celebration Hindustan Zinc’s Investment
Horizons Automated Proactive System for Mitigating Risks, Encashing
Opportunities, and Continuous Monitoring
External Environment - Harnessing Opportunities to Propel Growth ZINC LEAD
SILVER Mines Performance Overview - New Milestones New Horizons Exploration -
Focussing on Reserves Upgradation for Sustainable Growth Smelters and Captive
Power Plant - Opening New Vistas of Growth
Charting New Horizons in Sustainability New Milestones in Environment Protection
Investing in Overall Community Development Nurturing a Thriving Workforce
Towards New Horizons on Responsible Sourcing Strengthening our Health & Safety
Proposition Pursuing the Highest Standards in Governance Board of Directors
Senior Management Team Stakeholders Speak
Board’s Report Corporate Governance Business Responsibility & Sustainability
Reporting
Standalone Financial Statements Consolidated Financial Statements

×
 * Hindustan Zinc++
   * A Company Rooted in Strengths
   * How We Operate Our Business
   * Celebrating the Strength of our Operational Asset Base
   * Centre of Excellence
   * Towards Safe and Secure Cyber Horizons
   * Message from the Chairperson
   * Q&A with the CEO
   * Milestones FY 2022-23
 * Value Creation++
   * Key Performance Indicators
   * Celebrating the Strength of our Capitals
   * Touching New Milestones in Value Creation
   * Business Model
   * Nurturing Stakeholder Relations through Continual Engagement
   * Addressing Material Issues on Our Journey to a New Horizon
   * Investing in Strategic Priorities to Touch More Milestones
   * Managing Capital Trade-Offs to Enable Stakeholder Celebration
   * Hindustan Zinc’s Investment Horizons
   * Automated Proactive System for Mitigating Risks, Encashing Opportunities,
     and Continuous Monitoring
 * Operational Review++
   * External Environment - Harnessing Opportunities to Propel Growth
   * ZINC
   * LEAD
   * SILVER
   * Mines Performance Overview - New Milestones New Horizons
   * Exploration - Focussing on Reserves Upgradation for Sustainable Growth
   * Smelters and Captive Power Plant - Opening New Vistas of Growth
 * Environment, Social & Governance++
   * Charting New Horizons in Sustainability
   * New Milestones in Environment Protection
   * Investing in Overall Community Development
   * Nurturing a Thriving Workforce
   * Towards New Horizons on Responsible Sourcing
   * Strengthening our Health & Safety Proposition
   * Pursuing the Highest Standards in Governance
   * Board of Directors
   * Senior Management Team
   * Stakeholders Speak
 * Statutory Reports++
   * Board’s Report
   * Corporate Governance
   * Business Responsibility & Sustainability Reporting
 * Financial Statements++
   * Standalone Financial Statements
   * Consolidated Financial Statements
 * Glossary


ACHIEVING MORE MILESTONES CHASING NEW HORIZONS






MILLION TONNE

REFINED METAL PRODUCTION

THE HINDUSTAN ZINC JOURNEY HAS CROSSED NEW MILESTONES, AND TOUCHED NEW FRONTIERS
OF GROWTH WITH THE COMPANY CROSSING THE 1 MILLION TONNE REFINED METAL PRODUCTION
MARK DURING THE YEAR




A COMPANY ROOTED IN STRENGTHS

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Integrated producer of zinc, lead and silver

INDIA’S LARGEST

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Integrated zinc producer1

2ND LARGEST GLOBALLY

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Mine Life2

25+ YEARS

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(As on March 31, 2023)
Source:
1 Wood Mackenzie for global mine/smelter rankings for zinc-lead mine and cost
2 Ore Reserves and Mineral Resources (R&R) at current rate of metal production

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MESSAGE FROM THE CHAIRPERSON

It gives me immense pleasure to share that we reported yet another
record-breaking annual performance. Not only did Hindustan Zinc remain on course
to realise its goals, but also stayed ahead of the market curve to deliver an
excellent performance during the year.

PRIYA AGARWAL HEBBARCHAIRPERSON, HINDUSTAN ZINC LIMITED

READ MESSAGE


Q&AWITH ARUN MISRA, CEO

The milestones that we, at Hindustan Zinc, cross year-on-year are much more than
the realisation of our short-term goals and vision. They are manifestation of
the deep-rooted strengths that enable us to deliver on our goals.

READ Q&A



OPERATIONAL PERFORMANCE OVERVIEW

MIINES PERFORMANCE OVERVIEW

NEW MILESTONES NEW HORIZONS

The Hindustan Zinc journey of excellence continued to translate into many
landmark achievements across our mines during FY 2022-23. The focus remained on
boosting innovation, technology, safety, productivity and efficiency.

Total Mined Metal

1,062 KT

Total Mine Development

111 KM

Mined Metal – Zinc

839 KT

Mined Metal – Lead

223 KT

EXPLORE

ZINC OVERVIEW

ADDING VALUE, STRENGTHENING DEMAND

Global demand of zinc witnessed contraction in CY 2022, decreasing by 3.3% to
13.6 Mt, largely due to the fall in Chinese demand. At supply level, the refined
zinc metal production came down by 2.9%, as several smelters were put into care
and maintenance across the world owing to the increase in energy prices.

Market Share of

~75%

EXPLORE

EXPLORATION

FOCUSSING ON RESERVES UPGRADATION FOR SUSTAINABLE GROWTH

Exploration is integral in driving sustainable growth as it increases the
confidence on Mineral Resources and Ore Reserves. It envisions the replenishment
of every tonne of mined metal by fostering innovation and deploying new
technologies.

Exploration Surface Drilling

205.2 KM

Exploration Underground Drilling

335.6 KM

EXPLORE

LEAD OVERVIEW

EXPANDING PORTFOLIO AND CUSTOMER BASE

According to WoodMac, the global lead market, including primary and secondary
markets, witnessed y-o-y demand growth of 2.0% to 13.5 Mt in CY 2022, compared
to 4.3% y-o-y growth in CY 2021. Demand is expected to go up by 2.4% in CY 2023,
with China starting to ease its COVID restrictions. Lead inventories in LME
warehouses remained at historically low levels of 26 kt, with a ~35% drop since
the start of FY 2022-23.

Market Share of

88%

EXPLORE

SMELTERS AND CAPTIVE POWER PLANT (CPP)

OPENING NEW VISTAS OF GROWTH

Hindustan Zinc continued to notch new milestones and surge towards new vistas of
growth in its smelters business during FY 2022-23. Its 1 million tonnes refined
metal production landmark underscored the success of its initiatives in the
smelters business to promote efficiencies and sustainable growth.

Refined Metal Production

1,032 KT

Total Power Capacity

860.24 MW

EXPLORE

SILVER OVERVIEW

SHINING MORE, GETTING BRIGHTER

The global silver demand rose by 18% in CY 2022 to 1.24 billion ounces and is
expected to dip to 1.17 billion ounces in CY 2023. The global industrial demand
for silver is expected to increase by 2.6% y-o-y to 550 mn ounces in CY 2023,
lifted by vehicle electrification and the growing commitment of governments to
green infrastructure.

Silver Produced

714 MT

EXPLORE


KEY PERFORMANCE INDICATORS

 * GRAPHIC VERSION
 * TEXT VERSION

2022-23

2021-22

2020-21

2019-18

2018-19

Revenue from Operations

(₹ Crore) (including other operating income)

34,098

29,440

22,629

18,561

21,118

US$ mn

4,248

3,954

3,054

2,619

3,022

Revenue Mix

(%)

Zinc and Lead

82

81

78

84

85

Silver

13

14

20

13

12

Wind Energy

1

1

1

1

1

Others

2

2

1

4

4

EBITDA

(₹ Crore)

17,590

16,289

11,739

8,849

10,747

EXPLORE MORE

Blue Bull Antelopes spotted at Agucha Photo courtesy: International Union for
Conservation of Nature (IUCN) Team


ENVIRONMENTAL SOCIAL & GOVERNANCE

Hindustan Zinc has been on a progressive sustainability journey, and we continue
to expand the ambit of our ESG ambitions and outreach through sustained
investments in organisational strengths and capabilities. We remain focussed on
reducing our carbon footprint, minimising resource degradation, conserving
water, ensuring the highest levels of safety, practising good governance, and
enhancing community well-being.


CHARTING NEW HORIZONS IN SUSTAINABILITY

Driven by our Sustainability Goals 2025, and steered by our ‘ZERO HARM, ZERO
DISCHARGE, ZERO WASTE’ philosophy, we, at Hindustan Zinc, continually strive to
deliver on our targets across ESG metrics.

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NEW MILESTONES IN ENVIRONMENT PROTECTION

EXPLORE

INVESTING IN COMMUNITY WELFARE

EXPLORE

NURTURING A THRIVING WORKFORCE

EXPLORE

STRENGTHENING OUR HEALTH & SAFETY PROPOSITION

EXPLORE

TOWARDS NEW HORIZONS ON RESPONSIBLE SOURCING

EXPLORE

PURSUING THE HIGHEST STANDARDS IN GOVERNANCE

EXPLORE
Board of Directors

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Senior Management

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Stakeholder Speak


CORPORATE OVERVIEW

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HOW WE OPERATE OUR BUSINESS

DIGITALLY SCALING WIDER HORIZONS

CELEBRATING THE STRENGTH OF OUR OPERATIONAL ASSET BASE

TOWARDS SAFE AND SECURE CYBER HORIZONS

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VALUE CREATION

Our performance trajectory is indicative of our sharp value creation focus. It
is our continuous endeavour to create and deliver inclusive and holistic value
for our stakeholders through our well-crafted business model and execution
excellence, which helps us in effective implementation of our strategic
priorities. Our value creation efforts are further propelled by our continuing
stakeholder engagement and proactive risk management strategies. Our
understanding of the material issues impacting our business, and sustained
investments in our capitals have emerged as central tenets of our business
strategy.

Celebrating the Strength of our Capitals
Nurturing Stakeholder Relations through Continual Engagement

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Touching New Milestones in Value Creation
Addressing Material Issues on our Journey to a New Horizon

--------------------------------------------------------------------------------

Business Model
Investing in Strategic Priorities To Touch More Milestones

--------------------------------------------------------------------------------

Managing Capital Trade-offs to Enable Stakeholder Celebration
Hindustan Zinc’s Investment Horizons

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Risk Management

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REPORTING SUITE

Integrated Report
Digital Integrated Report
Sustainability Review Report
TCFD Report
Tax Transparency Report

© 2023 Hindustan Zinc. All rights reserved.



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