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Table of Contents India's Leading Brand Building and Advertising Company Lowe Lintas Launches Lowe Lintas DX Hindustan Zinc's Highest-Ever First Quarter Mined Metal and Silver Production Backed by Operational Efficiency and Rigorous Cost Reduction Program

India's Leading Brand Building and Advertising Company Lowe Lintas Launches Lowe Lintas DX Friday 21 July 2023 12:50 PM UTC+00 Business Wire India With an aim to redefine the landscape of digital brand building, Lowe Lintas, one of India's premier brand-building and advertising institutions has announced the launch of Lowe Lintas DX, a digital creative unit, offering advanced strategic and creative services specifically designed for long-term brand building in the digital spheres.   The ever-evolving digital landscape where innovation and data-driven insights dictate marketing decisions, Lowe Lintas DX envisions a transformative journey for brands. The vision is to augment digital strategies and solutions by harnessing the power of ideas to craft distinctive and impactful campaigns. The aim is to lead the way in pivoting the digital realm, where the convergence of creativity and innovation redefines the future of brands.   Working with brands, offering creative services, digital tech production, and valuable insights on digital consumers, Lowe Lintas DX team will leverage strategic support from Meta in India to create thought leadership resources for developing campaigns. The collaboration marks the first for MullenLowe Global internationally and will entail Lowe Lintas and Meta experts to support brand-building programs, Reels, and creative best practices. With Meta in India, the team will also be able to work with Instagram and Facebook creators and Meta's AR and VR partners.    In today's ever-expanding digital landscape, where consumers hold significant influence and digital spending takes precedence over other platforms, Meta will provide vital support to Lowe Lintas DX. This strategic support will empower Lowe Lintas DX to navigate the evolving marketing dynamics, harness the power of digital, social media, and commerce, and cultivate profound and unique brand experiences at every stage of customer engagement.    Said Arun Srinivas, Director and Head of Ads Business for Meta in India, "With digital emerging as one the biggest advertising medium in the country, there is a strong need to create new standards of brand building and advertising on digital platforms. Lowe Lintas DX has the potential to become an industry-leading hub of excellence, delivering strong business outcomes for brands that work with both Lowe Lintas and Meta. I am excited to deepen our support with MullenLowe Lintas Group and look forward to some path-breaking work with the team."     Subbu, Group CEO of MullenLowe Lintas Group & Chief Strategy Officer - APAC, MullenLowe Global, expressed, "Lowe Lintas DX, a game-changing offering from Lowe Lintas, strategically supported by Meta, is a living system for building brands in a futuristic way. In a rapidly accelerating digital-led marketplace that is characterised by data-driven technologies, our collaboration will explore constantly deepening experiences and smart growth ideas for brands that go far beyond the traditional methods giving businesses unceasing velocity and a competitive leg up. With this collaborative advantage, we are very confident it will enhance learning and possibilities, creating value for everyone in the play - the consumers, our brands, clients, Meta, and us."

Hindustan Zinc's Highest-Ever First Quarter Mined Metal and Silver Production Backed by Operational Efficiency and Rigorous Cost Reduction Program Friday 21 July 2023 02:50 PM UTC+00 Business Wire India Highest-ever first quarter mined metal production at 257 kt Back-to-back cost improvement in last 2 quarters resulting from our rigorous cost reduction programme; total saving of approximately $100/t Highest-ever first quarter silver production at 179 MT Hindustan Zinc Limited, the leading global integrated producer of zinc, lead and silver, reported its results for the first quarter ended June 30, 2023. Commenting on the performance, Mr. Arun Misra, CEO, said: "Hindustan Zinc has once again demonstrated its ability to deliver in a highly volatile external environment by accomplishing highest ever first quarter mined metal and silver production and maintaining a consistent run-rate of refined metal production. We strongly believe that in a cyclical commodity business, protecting margins is fundamental, hence our strong focus lies on optimising cost and enhancing volumes. The cornerstone of Hindustan Zinc's strategic priorities is to maximise shareholders return, and delivering as per commitment is an accurate reflection of the same. Our strategic development projects are also progressing well and now on track, while we continue to progress on our sustainability journey towards net-zero by 2050. I am also happy to share that Hindustan Zinc has been certified as a 'Great Place to Work' for the fifth consecutive year. With such endorsements at the backdrop, we strive to grow safely, responsibly, and sustainably."   Mr. Sandeep Modi, CFO, said: "Amidst the macro-economic headwinds moderating the base metal prices, Hindustan Zinc had a positive start of the year with a strong operational performance, attributable to consistent cost optimisation efforts and operational efficiencies, thereby protecting margins. With a first-time sequential drop in first quarter cost of production in the recent past, we continue to maintain our cost leadership in the global zinc cost curve. As we advance forward in this transformational year, we continue to focus on our ongoing development projects, automation & digitalisation investments and sustainable operations. I am happy to share that Hindustan Zinc has been recognised with 'Masters of Risk Jury Award in Metals & Mining and ESG Specialization' at CNBC-ICICI Lombard India Risk Management Awards 2023." Financial Summary Standalone INR. Crore or as stated Particulars Q1 Q4 2024 2023 Change 2023 Change Sales1           Zinc 4,668 6,865 -32% 5,861 -20% Lead 961 988 -3% 1,050 -8% Silver 1,298 1,109 17% 1,217 7% Others 355 425 -16% 381 -7% Total 7,282 9,387 -22% 8,509 -14% EBITDA 3,360 5,279 -36% 4,211 -20% Profit After Taxes 1,970 3,093 -36% 2,589 -24% Earnings per Share  4.66 7.32 -36% 6.13 -24% (INR, not annualised)           Mined Metal Production ('000 MT) 257 252 2% 301 -15% Refined Metal Production ('000 MT)           Total Refined Metal           Zinc 209 206 1% 215 -3% Saleable Lead 51 54 -6% 54 -6% Zinc & Lead 260 260 - 269 -4% Saleable Silver2 (in MT) 179 177 1% 182 -2% Wind Power (in million units) 121 150 -19% 71 72% Refined Metal Sales           Zinc (kt) 208 206 1% 216 -4% Lead (kt) 50 54 -6% 54 -7% Silver (MT) 179 177 1% 182 -2% Zinc CoP without Royalty (INR/MT) 98,103 97,423 1% 99,824 -2% Zinc CoP without Royalty ($/MT) 1,194 1,264 -6% 1,214 -2% Zinc LME ($/MT) 2,526 3,915 -35% 3,124 -19% Lead LME ($/MT) 2,117 2,199 -4% 2,140 -1% Silver LBMA ($/oz.) 24.1 22.6 7% 22.6 7% USD-INR (average) 82.16 77.06 7% 82.21 -  Including other operating income Silver occurs in Lead & Zinc ore and is recovered in the smelting and silver-refining processes. Financial Summary Consolidated INR. Crore or as stated Particulars Q1 Q4 2024 2023 Change 2023 Change Sales1           Zinc 4,668 6,865 -32% 5,861 -20% Lead 961 988 -3% 1,050 -8% Silver 1,298 1,109 17% 1,217 7% Others 355 425 -16% 381 -7% Total 7,282 9,387 -22% 8,509 -14% EBITDA 3,359 5,278 -36% 4,208 -20% Profit After Taxes 1,964 3,092 -36% 2,583 -24% Earnings per Share 4.65 7.32 -36% 6.11 -24% (INR, not annualised)           Mined Metal Production ('000 MT) 257 252 2% 301 -15% Refined Metal Production ('000 MT)           Total Refined Metal           Zinc 209 206 1% 215 -3% Saleable Lead 51 54 -6% 54 -6% Zinc & Lead 260 260 - 269 -4% Saleable Silver2 (in MT) 179 177 1% 182 -2% Wind Power (in million units) 121 150 -19% 71 72% Refined Metal Sales           Zinc (kt) 208 206 1% 216 -4% Lead (kt) 50 54 -6% 54 -7% Silver (MT) 179 177 1% 182 -2% Zinc CoP without Royalty (INR/MT) 98,103 97,423 1% 99,824 -2% Zinc CoP without Royalty ($/MT) 1,194 1,264 -6% 1,214 -2% Zinc LME ($/MT) 2,526 3,915 -35% 3,124 -19% Lead LME ($/MT) 2,117 2,199 -4% 2,140 -1% Silver LBMA ($/oz.) 24.1 22.6 7% 22.6 7% USD-INR (average) 82.16 77.06 7% 82.21 -  Including other operating income Silver occurs in Lead & Zinc ore and is recovered in the smelting and silver-refining processes. ​ Operational Performance   Highest-ever first quarter mined metal production at 257 kt, an increase of 2.1% y-o-y on account of higher ore production largely at Rampura Agucha & Kayad mines supported by improved mined metal grades and better mill recovery. In line with mine preparation activities being carried out every year in first quarter, MIC production was 14.6% lower sequentially. Refined metal production was 260 kt for the quarter, flat y-o-y and down 4% sequentially in line with plant availability. Integrated zinc production was 209 kt, up 1.4% y-o-y and down 2.9% sequentially. Integrated lead production for the quarter was down 5.7% y-o-y and 6.3% sequentially at 51 kt, in line with plant availability. Saleable silver production for the quarter was 179 MT, up 1.2% y-o-y and down 1.6% sequentially in line with lead metal production and higher WIP depletion. Financial Performance Revenue from operations during the quarter was INR 7,282 Crore, down 22.4% y-o-y on account of lower zinc & lead LME, lower lead volumes and differential strategic hedging impact partly offset by higher zinc and silver volumes, improved silver prices and favourable exchange rates. Sequentially, revenue was down by 14.4% on account of lower zinc LME, lower metal & silver volumes partly offset by improved silver prices. Zinc cost of production before royalty (COP) for the quarter was US$1,194 (INR 98,103) per MT, lower by 5.6% (0.7% higher in INR terms) y-o-y and lower by 1.7% (1.7% lower in INR terms) sequentially. Cost improvement is majorly on account of softened coal and input commodity prices, better domestic coal (linkage) availability, further supported by better grades and operational efficiencies year on year. EBITDA for the quarter was INR 3,359 Crore, down 36.4% y-o-y and 20.2% sequentially, mainly on account of lower zinc & lead LME partly offset by lower costs and better silver prices. Net profit for the quarter was at INR 1,964 Crore, down 36.5% y-o-y and 24.0% sequentially, primarily on account of lower EBITDA partly offset by lower tax expense. Projects Update   For Hindustan Zinc Alloys Private Limited (HZAPL), mechanical installations and cold commissioning of main Alloy plant have been completed and hot commissioning is planned in Q2 FY24 For Rajpura Dariba Mill, installation work completed and cold commissioning and plant hookup with existing facilities ongoing. Production targeted by mid Q2 FY24 For the Fumer commissioning, HZL team visited China for training on commissioning & online support. Due to continued visa restrictions, the commissioning will be done through online support and inhouse experts and is expected to be completed by early Q2 FY24 For the new Roaster at Debari, all orders are placed and EPC works will start in Q2 FY24 For Hindustan Zinc Fertilisers Private Limited (HZFPL), major process package order has been finalized, and the partner has been locked in. Remaining orders are targeted by Q2 FY24   ESG Update   Certified as Great Place to Work for the fifth consecutive year Won the prestigious PeopleFirst HR Excellence Awards in the categories of "Leading Practices in Talent Management" & "Leading Practices in Employee Relations (Industrial Relations)" HZL became the piloting member for Science Based Target for Nature target setting, the only one in India and only metal and mining company amongst the member companies. Submitted Taskforce on Nature-related Financial Disclosure (TNFD) piloting for LEAP approach in collaboration with ICMM India's 1st ever all women mining rescue team trained at Mines Rescue Station, Nagpur Zawar group of mines won Platinum Award at Apex India Green Leaf Awards 2022 Zawar Mines won CII Best Practices Award for its dry tailing plant On World Environment Day, 'Coffee Table Book' on 'Preserving the Beauty of Biodiversity in Nature' was launched in the presence of Rajasthan State Pollution Control Board, Chairperson at Jaipur Two zinc football players selected in Rajasthan state team Awarded with two titles in 'India Risk Management Award 2023' by CNBC-ICICI Lombard including special jury citation for 'Risk Management in Metal & Mining Industry' and 'Master of Risks in Environmental Social Governance' Category Liquidity and Investment As on June 30, 2023, the Company's consolidated gross investments and cash & cash equivalents were INR 9,709 Crore as compared to INR 10,061 Crore at the end of Mar'23 which was invested in high quality debt instruments. Total borrowings outstanding as on Jun'23 was INR 9,330 Crore.   Outlook for FY24 Both mined metal and refined metal production in FY24 is expected to be higher than last year. Mined metal is expected to be between 1,075-1,100 kt & refined metal production in the range of 1,050-1,075 kt. FY24 saleable silver production is projected to be between 725-750 MT. Zinc cost of production in FY24 is expected to be in between US$ 1,125-1,175 per MT. Project capex for the year is expected to be in the range of US$ 175-200 million.

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