Hindustan Zinc incorporates unit for fertilizers manufacturing

8 Sep 2022 , 11:32 AM

The company said it has incorporated Hindustan Zinc Fertilisers to manufacture, sale and dealing of multiple grades of nitrogenous, phosphatic, potassic fertilizers; chemical & other allied items and generally dealing in all types, classes and kinds of fertilizers, their intermediates, co-products and micro-nutrients in India & elsewhere. Hindustan Zinc said it will fully subscribe 1,00,000 equity shares of Hindustan Zinc Fertilisers of the face value of Rs 10 each aggregating to Rs 10 lakh. The company said it will pay in cash the subscription amount for its own shares and for other individual subscriber who is nominee of the company. Hindustan Zinc, a Vedanta Group company, is an integrated producer of zinc, lead and silver. As of 30 June 2022, Vedanta holds 64.92% stake in the company. The mining companys consolidated net profit soared 55.93% to Rs 3,092 crore on 44% increase in revenue from operations to Rs 9,387 crore in Q1 FY23 over Q1 FY22. Shares of Hindustan Zinc rose 0.09% to Rs 287.80 on the BSE. Powered by Capital Market – Live News