Vedanta group firm Hindustan Zinc Ltd (HZL) announced a substantial contribution of Rs 13,195 crore to the exchequer for the financial year 2023-24.
MUMBAI (India CSR): Hindustan Zinc Ltd (HZL), a subsidiary of the Vedanta Group, announced its remarkable contribution of Rs 13,195 crore to the Indian exchequer during the financial year 2023-24. This represents approximately 46% of the company’s total revenue for the period.
This amount represents about 46% of HZL’s total revenues, underscoring the company’s significant role in India’s economic landscape. Over the past five years, HZL has cumulatively contributed Rs 77,803 crore, reinforcing its commitment to sustainable growth and regional development.
Hindustan Zinc Limited, a leading player in the global zinc market, is the world’s second-largest integrated zinc producer and the third-largest silver producer. The company’s commitment to responsible mining practices and its significant contributions to the exchequer solidify its role as a key contributor to the Indian economy and a responsible corporate citizen.
HZL’s Annual Financial Contributions
Hindustan Zinc Ltd has consistently demonstrated its financial prowess and dedication to supporting the Indian economy. For FY 2023-24, HZL’s contribution to the exchequer stood at an impressive Rs 13,195 crore. This substantial figure is a testament to the company’s robust financial performance and its commitment to transparent and value-driven business practices.
HZL’s cumulative contribution over the past five years has reached a remarkable Rs 77,803 crore. Chairperson Priya Agarwal Hebbar emphasized the company’s dedication to sustainable growth, stating, “As our businesses grow, so will these numbers. At Hindustan Zinc, we are committed to continuing to do business with a purpose in a manner that is sustainable, transparent and creates value for all our stakeholders.”
Commitment to Rajasthan’s Economic Development
Hindustan Zinc has consistently contributed an average of approximately Rs 3,250 crore per year to the state of Rajasthan over the past five years. These contributions include royalties, contributions to the District Mineral Foundation (DMF), and other levies. This financial support highlights HZL’s ongoing commitment to the economic development of Rajasthan.
The company has paid Rs 16,350 crore in government royalties, Rs 10,100 crore as corporate income tax, Rs 18,008 crore as corporate dividend, and Rs 26,384 crore in indirect taxes over the past five years. These payments reflect HZL’s role as a significant economic contributor and its dedication to fulfilling its financial obligations to the state and central governments.
Global Leadership in Zinc and Silver Production
Hindustan Zinc Limited, a Vedanta Group company, is the world’s second-largest integrated zinc producer and the third-largest silver producer. The company’s global leadership in zinc and silver production further cements its position as a key player in the mining and metals industry.
HZL’s contributions to the exchequer are not just financial; they also represent the company’s broader impact on the economy and its commitment to sustainable business practices. By consistently delivering substantial financial support to the government, HZL plays a crucial role in driving economic development and supporting community initiatives.
Consistent Contribution
The company’s commitment to responsible business practices and economic development is further evident in its consistent contribution to the Indian economy. Over the past five years, HZL’s cumulative contribution has reached a staggering Rs 77,803 crore, reflecting a significant impact on national revenue generation.
Significant Impact on Rajasthan
Hindustan Zinc’s operations are primarily centered in Rajasthan, where it has been a major contributor to the state’s economy. In the past five years, the company has consistently provided an average of Rs 3,250 crore per year to the state, primarily in the form of royalties, contributions to the District Mineral Foundation (DMF), and other levies.
Breakdown of Contributions
- Royalties: Rs 16,350 crore
- Corporate Income Tax: Rs 10,100 crore
- Corporate Dividend: Rs 18,008 crore
- Indirect Taxes: Rs 26,384 crore
Emphasis on Sustainable Growth:
Priya Agarwal Hebbar, Chairperson of Hindustan Zinc, emphasized the company’s dedication to sustainable growth and its commitment to creating value for all stakeholders. “As our businesses grow, so will these numbers,” she stated, highlighting the company’s continuous contribution to the economic development of both the state and the nation.
(India CSR)
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