UDAIPUR (India CSR): Hindustan Zinc, India’s largest and the world’s second-largest integrated zinc producer, has been awarded the Bronze in the ‘Corporate Above Rs 5000 Crore Turnover’ category at the 5th TIOL Taxation Awards 2024, held in New Delhi. The TIOL Taxation Awards is an industry leading forum that recognizes companies who have consistently complied with tax regulations, contributed fairly to nation’s revenue and upheld highest standards of tax transparency and reporting practices. 

Award Presentation by Eminent Dignitaries

The prestigious award was presented by Harivansh Narayan Singh, Hon’ble Deputy Chairman of Rajya Sabha and Dr. P.Thiaga Rajan, Hon’ble IT & Digital Services Minister  Tamil Nadu. The event was also graced by Dr. C.Rangarajan, and Dr. Y.V. Reddy, both former Governors of the Reserve Bank of India, Shri Samrat Choudhary, Dy. Chief Minister of Bihar and N. Venkataraman, Additional Solicitor General of India.

Distinguished Jury for the TIOL Award

The distinguished jury for the TIOL Award comprised of Justice A.K. Patnaik and Justice S.K. Singh, both former Supreme Court Judges, Tarun Bajaj, former Union Revenue Secretary, C.K. Mishra, former Union Health Secretary, M.C. Joshi and J.B. Mohapatra, both former Chairmen CBDT,  Ashok Bhattacharya, Editorial Director of Business Standard, Pramod Kumar, former Vice-President ITAT, S.M. Bhatnagar, former CBIC Member, Ambassador Ajit Kumar former Indian Representative, UNO, and Girish Mohapatra, former CBDT Chairman. 

Hindustan Zinc’s Commitment to Nation-Building

Hindustan Zinc remains steadfast in its commitment to nation-building and, despite fluctuations in metal prices and global economic volatilities continues to support the government’s vision of Atmanirbhar Bharat. The company takes pride in its voluntary tax disclosures, highlighting its contribution to India’s economic development, infrastructure growth, and socio-economic well-being.

Tax Transparency as Part of Hindustan Zinc’s ESG Agenda

Tax transparency is a vital component of Hindustan Zinc’s broader ESG (Environmental, Social, Governance) agenda. By proactively disclosing its tax contributions, the company strengthens its role in economic development, builds stakeholder trust, and upholds the highest standards of corporate governance. 

CEO Arun Misra on Receiving the Award

On receiving the award, Arun Misra, CEO of Hindustan Zinc, said, “Taxation plays a crucial role in the country’s progress. Our responsible tax practices enhance industry dialogue, and as a corporate citizen, we take pride in demonstrating the highest standards of governance and transparency in our tax approach. This award bears testimony to our commitment to transparent tax disclosures and excellence in reporting.”

CFO Sandeep Modi’s Remarks on Tax Transparency

Adding to this, Sandeep Modi, Chief Financial Officer of Hindustan Zinc, commented, “The global business landscape is evolving with a strong emphasis on sustainability and responsibility. Hindustan Zinc has always prioritized tax transparency, maintaining the industry leading standards in taxation practices and reporting. This recognition underscores our dedication to excellence in the global tax environment.”

Hindustan Zinc’s Tax Contributions

Hindustan Zinc consistently ranks among India’s top taxpayers. In FY 2023-24 alone, the company contributed INR 13,195 crore to the exchequer, representing nearly 46% of its total revenues (Read full story). Over the past five years, its cumulative contribution has reached an impressive INR 77,803 crore, playing a crucial role in the country’s economic and societal development.

Hindustan Zinc Limited, a Vedanta Group company, is the world’s second-largest integrated zinc producer and the third-largest silver producer. The company supplies to more than 40 countries and holds a market share of about 75% 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 by the S&P Global Corporate Sustainability Assessment 2023, 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.

As a world leader in the metals and mining industry, Hindustan Zinc is pivotal in providing critical metals essential for the global energy transition for a sustainable future.

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