Hindustan Zinc Ltd. — Regulatory Filings 2025

Apr 25, 2025

==> picture [511 x 55] intentionally omitted <==

HZL/2025-26/SECY/10

April 25, 2025

BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Fort Mumbai – 400 001

National Stock Exchange of India Limited Exchange Plaza, 5th Floor Plot No., C/l, G Block Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051

Kind Attn: General Manager – Department of Corporate Services

Kind Attn: Head Listing & Corporate Communication

Scrip Code: 500188

Trading Symbol: “HINDZINC”

Dear Sir/Ma’am,

Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) - Press Release

In continuation to our Letter No. HZL/2025-26/SECY/09 dated April 25, 2025, regarding the declaration of the Audited Consolidated and Standalone Financial Results of the Company for the fourth quarter and year ended March 31, 2025 (“ Financial Results ”), please find enclosed herewith the copy of Press Release issued on the Financial Results.

The same is also available on the website of the Company at www.hzlindia.com.

This is for your information and records.

Thanking You.

Yours faithfully,

For Hindustan Zinc Limited

AASHHIMA Digitally signed by AASHHIMA V KHANNA V KHANNA Date: 2025.04.25 14:43:37 +05'30'

Aashhima V Khanna Company Secretary & Compliance Officer

Encl: as above

==> picture [453 x 28] intentionally omitted <==

==> picture [166 x 55] intentionally omitted <==

==> picture [175 x 55] intentionally omitted <==

Hindustan Zinc Limited, the World’s Largest Integrated Zinc Producer, announces Results for the Fourth Quarter and Full Year Ended March 31, 2025

4Q PAT surges 47% YoY to ₹ 3,003 crores, with the Full Year PAT of ₹ 10,353 crores, up 33% backed by record metal volume and cost reduction

FY25 Highlights:

Operational:

• Historic high production of mined metal of 1,095 kt and refined metal of 1,052 kt

• 4-year lowest zinc cost of production of $1,052/MT, better by 6% YoY

• Highest ever domestic zinc sales of 603 kt with a market share of 77%

• Highest ever value-added products share of c.22%

• Surpassed 13.1 Mt metal reserves (net of 1.2 Mt production) for the first time. Total metal resources & reserves stand at 29.6 Mt and continue to maintain 25+ years of mine life

Financial:

• 2[nd] highest ever Revenue of ₹ 34,083 crores, up 18% YoY

• 2[nd] highest EBITDA of ₹ 17,465 crores, up 28% YoY with industry leading EBITDA margin of c.51%, up 400 bps YoY

• 2[nd] best Profit after tax (PAT) of ₹ 10,353 crores, up 33% YoY

• Highest ever Return on Capital Employed of 58%

• Generated strong free cash flow from operations (pre capex) of ₹ 13,784 crores

• Contributed ₹ 18,734 crores to exchequer during the year, up 42% YoY

• Among Top 3 in Nifty Metal index based on market capitalisation of ₹ 195k crores (as of Mar’25 end); Total shareholder returns of c.68% during FY25

4Q FY25 Highlights:

• Highest ever 4Q Revenue of ₹ 9,087 crores, up 20% YoY

• 4Q robust EBITDA of ₹ 4,816 crores, up 32% YoY along with industry leading EBITDA margin of c.53% up c.500 bps YoY

• Best-ever 4Q Profit after tax of ₹ 3,003 crores, up 47% YoY

• Delivered 16-quarter lowest zinc cost of production of $ 994/MT , better 5% YoY

• Included in Futures & Options on National Stock Exchange effective from March 2025

Hindustan Zinc Limited Registered Office: Yashad Bhawan, Udaipur (Rajasthan) - 313 004 T+91-294 660 4000 F+91-294 242 7734 www.hzlindia.com CIN: L27204RJ1966PLC001208

1

==> picture [166 x 55] intentionally omitted <==

==> picture [175 x 55] intentionally omitted <==

Commenting on Hindustan Zinc’s performance, Arun Misra, Chief Executive Officer, said:

“Hindustan Zinc achieved its highest-ever mined and refined metal production this year. This milestone was driven by improved operational efficiencies, AI integration, and a strong focus on digitalization and automation, resulting in sustainable cost reductions and industry-leading margins. With the renewable energy arrangement with Serentica, we reinforce our commitment to clean energy and solidify our role in the global energy transition. As the world’s largest integrated zinc producer, we aim to meet rising domestic demand while maintaining our position as one of the lowest-cost producers globally and most resilient producers in the industry.”

Sandeep Modi, Chief Financial Officer, said :

“This year marks another milestone in Hindustan Zinc’s legacy of financial excellence, as we delivered our best-ever fourth quarter profit after tax and recorded our 2nd highest revenue and EBITDA for the full year, driven by driven by structural cost reductions initiatives reflected by the 4-year lowest cost of production, operational excellence, and a deep-rooted commitment to sustainability. Despite the global uncertainties, including recent market volatility from the ongoing trade war, our fundamentals remain robust. With a strong balance sheet, structurally leaner cost base and clear strategic direction, Hindustan Zinc is well-positioned to navigate external headwinds and continue delivering consistent, industry-leading returns."

Hindustan Zinc Limited Registered Office: Yashad Bhawan, Udaipur (Rajasthan) - 313 004 T+91-294 660 4000 F+91-294 242 7734 www.hzlindia.com CIN: L27204RJ1966PLC001208

2

==> picture [166 x 55] intentionally omitted <==

==> picture [175 x 55] intentionally omitted <==

Financial Summary

(In ₹ Crores or as stated)

Particulars	4Q	3Q	FY
	FY 2025 FY 2024 Change	FY 2025 Change	FY 2025 FY 2024 Change
Sales1			21,887 18,061 21% 4,227 4,076 4% 6,130 5,368 14% 1,840 1,427 29% 34,083 28,932 18%
Zinc	5,856 4,858 21%	5,628 4%
Lead	1,027 961 7%	1,008 2%
Silver	1,688 1,360 24%	1,465 15%
Others	517 370 40%	513 1%
Total	9,087 7,549 20%	8,614 5%
EBITDA	4,816 3,637 32%	4,539 6%	17,465 13,677 28% 51% 47% -
EBITDA Margin	53% 48% -	53% -
Profit After Taxes (after exceptional items)	3,003 2,038 47%	2,678 12%	10,353 7,759 33% 24.50 18.36 33%
Earningsper Share2	7.11 4.82 47%	6.34 12%
Mined Metal Production(‘000 MT)	310 299 4%	265 17%	1,095 1,079 1%
Refined Metal Production (‘000 MT)			1,052 1,033 2% 827 817 1% 225 216 4% 687 746 -8% 348 394 -12%
Total Refined Metal (Zinc & Lead)	270 273 -1%	259 4%
Zinc	214 220 -3%	204 5%
Lead	56 53 6%	55 2%
Silver3(in MT)	177 189 -7%	160 10%
Wind Power(in million units)	63 61 3%	47 33%
Refined Metal Sales (‘000 MT)			1,053 1,033 2% 827 817 1% 225 216 4% 687 746 --8%
Total Refined Metal (Zinc & Lead)	274 274 0%	256 7%
Zinc	218 221 -1%	201 8%
Lead	56 53 6%	55 2%
Silver(in MT)	177 189 -7%	160 10%
Zinc CoP($/MT) 4	994 1,051 -5%	1,041 -5%	1,052 1,117 -6%
Zinc LME ($/MT)	2,838 2,450 16%	3,050 -7%	2,875 2,475 16% 2,046 2,122 -4% 30.4 23.6 29% 84.55 82.78 2%
Lead LME ($/MT)	1,970 2,077 -5%	2,007 -2%
Silver LBMA ($/oz.)	31.9 23.3 37%	31.4 2%
USD-INR(average)	86.60 83.04 4%	84.46 3%

Note: all numbers reported are consolidated numbers unless otherwise mentioned

1. Including other operating income

2. ₹, not annualised

3. Silver occurs in Lead & Zinc ore and is recovered in the smelting and silver-refining processes

4. Cost of production (CoP) wherever referred is excluding royalty

Financial Performance

Revenue:

• Recorded best ever fourth quarter revenue from operations at ₹ 9,087 crores, up 20% YoY driven by higher lead volume, and zinc and silver prices and stronger dollar.

• For full year, achieved 2[nd] highest revenue of ₹ 34,083 crores, up 18% YoY driven by record metal production, higher zinc and silver prices, stronger dollar and strategic hedging gains.

Hindustan Zinc Limited

3

Registered Office: Yashad Bhawan, Udaipur (Rajasthan) - 313 004 T+91-294 660 4000 F+91-294 242 7734 www.hzlindia.com

CIN: L27204RJ1966PLC001208

==> picture [166 x 55] intentionally omitted <==

==> picture [175 x 55] intentionally omitted <==

EBITDA:

• Recorded 2[nd] best fourth quarter EBITDA of ₹ 4,816 crores, up 32% YoY driven by higher zinc and silver prices, increased lead production, softened input commodity prices and higher by-product sales. The company recorded an industry leading EBITDA margin of c.53%.

• On annual basis, achieved 2[nd] highest EBITDA of ₹ 17,465 crores, up 28% YoY in line with record metal volume, lower cost of production, higher zinc and silver prices and stronger dollar. This was partly offset by lower silver volume and lower lead prices. The company recorded a strong EBITDA margin of c.51%.

Profit after taxes (PAT):

• Profit after tax for the quarter stood at ₹ 3,003 crores (Best 4Q), up 47% YoY in line with the higher EBITDA.

• Achieved 2[nd] highest full year Profit after tax of ₹ 10,353 crores, up 33% YoY in line with the EBITDA.

Zinc Cost of Production (COP):

• Zinc COP for the quarter stood at its 16-quarter best of US$ 994 per MT, lower by 5% YoY on account of improved metal grades and recovery, better domestic coal availability, better by-product sales, softened coal and input commodity prices and operational efficiencies.

• Zinc COP for the full year was at its 4-year lowest of US$ 1,052 per MT, lower by 6% YoY on account of record production volumes, better mined metal grades and recovery, increased domestic coal and renewable energy usage and by-product sales, further supported by softened coal and input commodity prices and operational efficiencies.

Liquidity and Investment

• As on March 31, 2025, the company had healthy gross investments and cash & cash equivalents of ₹ 9,482 crores invested in high quality debt instruments. Total borrowings outstanding as on March 31, 2025, was ₹ 10,651 crores. Net debt reduced to ₹ 1,169 crores as against ₹ 4,117 crores as on December 31, 2024.

• Company has consistent Investment grade credit rating of AAA from CRISIL, demonstrating the strength of the balance sheet.

Reserves & Resources (R&R)

• Surpassed 13.1 Mt of metal reserves (net of production) for the first time . Total metal R&R as on March 31, 2025, stood at 29.6 million tonnes (net of production of 1.2 Mt in FY25). At current mining rates, the R&R underpins a mine life of more than 25 years.

Ore Reserves (Mt)	%Zn	%Pb	Silver (ppm)	Metal Reserves (Mt)	Mineral Resources (Mt)	%Zn	%Pb	Silver (ppm)	Metal Resources (Mt)	Total R&R (Mt)	Total Metal R&R (Mt)
189.1	5.5	1.5	50	13.1	264.1	4.4	1.9	59	16.5	453.2	29.6

Hindustan Zinc Limited Registered Office: Yashad Bhawan, Udaipur (Rajasthan) - 313 004 T+91-294 660 4000 F+91-294 242 7734 www.hzlindia.com

4

CIN: L27204RJ1966PLC001208

==> picture [166 x 55] intentionally omitted <==

==> picture [175 x 55] intentionally omitted <==

Ongoing Projects Update

• 160 Ktpa roaster at Debari will be commissioned in mid of 1Q FY26.

• Completion of the cellhouse debottlenecking is targeted by 2Q FY26 for Dariba Smelting Complex and 3Q FY26 for Chanderiya Lead Zinc Smelter.

• The 510 Ktpa Fertiliser plant is under progress as per the schedule to be completed by 4Q FY26.

• Implementing an innovative technology for recovery of lead and silver from smelting waste at Dariba.

• Bamnia Kalan project is progressing well. The peripheral boundary wall work is completed and excavation work for portals is currently under progress.

Outlook for FY26

Particulars	FY26 Guidance
Production
- Mined Metal	1,125(±10)kt
- Refined Metal	1,100(±10)kt
- Saleable Silver	700-710 MT
Zinc CoP	US$1,025-1,050per MT
Growth Capex	US$225-250 million

ESG (Environment, Social and Governance)

• Benefitting c.2.3 million lives across 2,362 villages through c.50 initiatives across 7 verticals in FY25

• 1,969 Nandghars completed in Rajasthan, taking the Nandghars to 8,000 at the Vedanta Group level

• Secured the Top 1% ranking in S&P Global Sustainability Yearbook 2025 in metals & mining sector globally, for the second consecutive year, featuring for the 8[th] consecutive year

• Signed the 530 MW renewable energy power delivery agreement with Serentica, increasing our renewable energy portfolio to up to 70% of our overall power requirement

• Hindustan Zinc’s Integrated Annual Report 2023-24 and Sustainability Report 2023-24 ranked 1[st] globally in Materials category with a Platinum Award in LACP Vision Awards 2023-24 . Our Integrated Report was also recognized as the Most Creative Report Worldwide

• India’s First Gen AI for Annual Reports ‘Zincky’ has been recognized globally with our Digital Annual Report 2023-24 bagging a Platinum at AVA Digital Awards 2025

• Hindmetal Exploration Services Pvt Ltd Secured Category-A Exploration Agency accreditation from National Accreditation Board for Education and Training (NABET) under the QCI-NABET Scheme for Accreditation of Exploration Agencies in Mineral Sector

• Commissioned a 4 million litres per day (MLD) zero liquid discharge plant at Rampura Agucha Mine

• Multiple accolades for safety excellence at 2025 British Safety Council International Safety Awards

• Recognized for the Great Indian Audit Team and Risk Team in the Manufacturing & Industrial Sector at the 4[th] Great Indian Audit Leaders’ Summit & Awards 2025

Note: All quarter financial and operational highlights and achievements along with reserves and resources and ROCE are since underground transitioning

Hindustan Zinc Limited Registered Office: Yashad Bhawan, Udaipur (Rajasthan) - 313 004 T+91-294 660 4000 F+91-294 242 7734 www.hzlindia.com CIN: L27204RJ1966PLC001208

5

==> picture [166 x 55] intentionally omitted <==

==> picture [175 x 55] intentionally omitted <==

Earnings Call on Friday, April 25, 2025, at 16:00 hours (IST)

The Company will hold an earnings conference call on Friday, April 25, 2025, at 16:00 hours IST, where senior management will discuss the Company’s results and performance.

Conference Dial-In Information:

Express Join via internet registration

Please dial the below number at least 5-10 minutes prior to the conference schedule.

Universal Access +91 22 6280 1340, +91 22 7115 8241 Playback Dial-In Numbers +91 22 7194 5757 April 25 - May 02, 2025 Playback Code: 23209

For further information, please contact:

Raksha Jain Director - Investor Relations raksha.jain@vedanta.co.in

Sonal Choithani

Chief Brand & Communications Officer sonal.choithani@vedanta.co.in

Rahul Challa

Deputy Manager - Investor Relations hzl.ir@vedanta.co.in

About Hindustan Zinc

Hindustan Zinc Limited (BSE: 500188 and NSE: HINDZINC), a Vedanta Group company, is the world’s largest integrated zinc producer and is amongst the top 5 silver producers globally. The company supplies to more than 40 countries and holds a market share of about 77% of the primary zinc market in India. Hindustan Zinc has been recognized as the world’s most sustainable company in the metals and mining category for the second consecutive year by the S&P Global Corporate Sustainability Assessment 2024, reflecting its operational excellence, innovation, and leading ESG practices. The company also launched EcoZen, Asia's first low carbon 'green' zinc brand. Produced using renewable energy, EcoZen has a carbon footprint of less than 1 tonne of carbon equivalent per tonne of zinc produced, about 75% lower than the global average. Hindustan Zinc is also a certified 2.41 times Water-Positive company and is committed to achieving Net Zero emissions by 2050 or sooner. Transforming the lives of 2.3 million people through its focused social welfare initiatives, Hindustan Zinc is among the Top 10 CSR companies in India. As an energy transition metals company, Hindustan Zinc is pivotal in providing critical metals essential for a sustainable future.

Learn more about Hindustan Zinc on - https://www.hzlindia.com/home/ and follow us on LinkedIn, Twitter, Facebook, and Instagram for more updates.

Disclaimer

This press release contains “forward-looking statements” – that is, statements related to future, not past, events. In this context, forwardlooking statements often address our expected future businesses and financial performance, and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should” or “will.” Forward–looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, London Bullion Metal Association, fluctuations in interest and/or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results and/or business operations to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements and investors should take their own decisions.

Hindustan Zinc Limited

6

Registered Office: Yashad Bhawan, Udaipur (Rajasthan) - 313 004 T+91-294 660 4000 F+91-294 242 7734 www.hzlindia.com CIN: L27204RJ1966PLC001208