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The company plans to create separate legal entities for its Zinc & Lead, Silver, and Recycling businesses. The committee will assess options and alternatives and make recommendations to the board.
The strategic objectives include unlocking value for stakeholders, creating businesses for long-term growth, attracting a wider investor base, accelerating sustainability goals, implementing appropriate capital structure and allocation policies, and focusing on core competencies and resource realignment.
External advisors will be appointed to assist in the evaluation process. The company will make necessary announcements and disclosures as required by regulations.
Hindustan Zinc, a Vedanta Group company, is the world's 2nd largest integrated Zinc producer and 5th largest Silver producer. It holds about 75% of the Zinc market in India and is headquartered in Udaipur, Rajasthan.
The company's consolidated net profit tumbled 36.48% to Rs 1,964 crore in Q1 FY24 from Rs 3,092 crore recorded in Q1 FY23.
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