The cheque of final dividend
for financial year 2011-12 amounting to Rs. 187.19 crore was handed over to Shri Dinsha J. Patel, Union
Minister of Mines, by COO of
Hindustan Zinc Limited here today, in the presence of
Shri S. Vijay Kumar, Secretary, Ministry of Mines, Shri
S.K. Srivastava, Additional Secretary, Ministry of
Mines and other senior officials of the Ministry and the company.
Hindustan Zinc Limited have approved interim dividend
for 2011-12 @ 75% i.e.Rs.1.50 per equity share of Rs.2/- each. This is the highest ever dividend declared by
the Company.
Out of its total holding of 75.92%
shares in HZL, Government of India disinvested 26% in favour
of Sterlite Opportunities and Ventures Ltd. (SOVL) on
28th March, 2002 and the management control of the company was also
transferred to SOVL on 11th April, 2002. Government of India further
offloaded 18.92% of its equity in HZL in 2003 in favour
of SOVL in response to the Call Option exercised by them in terms of the
Shareholders’ Agreement.
The current shareholding of the SOVL
in HZL is 64.92% and that of Government of India is 29.5351%, while the
remaining 5.5449% shares are held by institutional investors, private corporate
bodies, Indian Public etc.
SKS
Brief Note on Hindustan Zinc Limited
Hindustan Zinc Limited was
incorporated from the erstwhile Metal Corporation of India on 10 January 1966
as a Public Sector Undertaking. HZL is the world’s largest integrated producer
of Zinc-Lead.
It has a metal production capacity of
1,064,000 tonnes per annum with its smelter
operations situated in Chanderiya, Debari, Dariba and Visakhapatnam.
HZL has Lead-Zinc mines in Rampura Agucha, Sindesar Khurd, Rajpura Dariba and Zawar.
Products of the company are zinc-lead
and silver.
Besides Company
has also invested in wind power of 273 MW.
HZL has over 6,500 employees. The
Company is a subsidiary of the NYSE listed, Sterlite
Industries (India) Limited (NYSE: SLT) and London listed FTSE 100 diversified
metals and mining major, Vedanta Resources plc.
Out of its total holding of 75.92%
shares in HZL, Government of India disinvested 26% in favour
of Sterlite Opportunities and Ventures Ltd. (SOVL) on
28th March, 2002 and the management control of the company was also
transferred to SOVL on 11th April, 2002.
Government of India introduced
Employees Share Purchase Scheme (ESPS) in HZL in the year 2002 and offered 5%
shares to employees of HZL who were on the rolls of the Company on the date of
disinvestment. But the employees
subscribed only 1.4644% shares.
Government of India further offloaded
18.92% of its equity in HZL in 2003 in favour of SOVL
in response to the Call Option exercised by them in terms of the Shareholders’
Agreement. The current shareholding of the SOVL in HZL is 64.92% and that of
Government of India is 29.5351%, while the remaining 5.5449% shares are held by
institutional investors, private corporate bodies, Indian Public etc.
Hindustan Zinc’s Abridged Profit &
Loss Statement (Rs Crore)
|
|
FY 2012
up to 30-9-2011
|
FY 2010-11
|
FY 2009-10
|
|
Net sales from operations
|
5415
|
9,912
|
8,017
|
|
PBDIT
|
|
6,454
|
5,392
|
|
Income Tax
|
|
1,059
|
973
|
|
PAT (Net Profit)
|
2,839.60
|
4,901
|
4,041
|
|
Earnings Per Share (Rs.)
|
|
11.60
|
9.56
|
The Board of Directors of Hindustan
Zinc Limited in its meeting held on 19th October, 2011 have approved
interim dividend for 2011-12 @ 75% i.e.Rs.1.50 per equity share of Rs.2/-
each. This is the highest ever dividend
declared by the Company. The amount of
interim dividend being paid to Government on its holding in HZL is Rs.187.19
crore.