Hindustan Zinc Q2FY23 PAT up 32.9% at Rs2,680 crore on sharp spike in top line price realizations

26 Oct 2022 , 12:40 AM

Hindustan Zinc reported 36.16% growth in total revenues for the September 2022 quarter on consolidated basis at Rs8,336cr.

Revenue growth was -11.20% down in sequential terms. The company saw strong top line growth in zinc and lead while the growth in revenues of silver metal was more subdued.

For the quarter, the metal volumes were up 18% and silver at 28%. Mined metal production stood at 255 KT while refined metal production was 246 KT.

The saleable silver production stood at 194 KT while zinc prices were $1,259/MT.

Consolidated Profit after tax (PAT) for September 2022 quarter was up 32.9% at Rs2,680cr and it was -13.32% lower on sequential basis.

For the quarter, operating profit margin stood at 43%, static on a yoy basis. While the debt service coverage more than doubled to 5.86X, the interest coverage also more than doubled to 98.8X.

Current ratio fell from 3.85X to 2.57X on a yoy basis showing pressure on working capital funding. Net profit margins at 32.15% in Q2FY23 were lower compared to 32.95% in Q2FY22 and 32.94% in the Q2FY23.

Financial highlights for Sep-22 compared yoy and sequentially

	Hindustan Zinc
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 8,336.00	₹ 6,122.00	36.16%	₹ 9,387.00	-11.20%
Net Profit (Rs cr)	₹ 2,680.00	₹ 2,017.00	32.87%	₹ 3,092.00	-13.32%
Diluted EPS (Rs)	₹ 6.34	₹ 4.77		₹ 7.32
Net Margins	32.15%	32.95%		32.94%