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I would like to first thank the Board and the shareholders of the Company for reposing their trust in me for steering Hindustan Zinc as its new Chairperson. This is indeed an honour, and I hope, together we will be able to work towards achieving our ambitious goals, in line with the landmark accomplishments of my predecessor Ms. Kiran Agarwal.
Hindustan Zinc is a shining beacon in the Group’s portfolio. Since assuming the role of Chairperson, I have witnessed the organisation achieve many milestones. Not only did Hindustan Zinc remain on course to realise its goals, but also stayed ahead of the market curve to deliver an excellent performance during the year.
It gives me immense pleasure to share that we reported yet another record-breaking annual performance, with historic highs in terms of revenue, EBITDA, net profit and cash flow generation during the year. Technology and digitisation have been key in boosting operational efficiencies, while enabling continual volume enhancement and cost optimisation through agile decision-making.
I also want to take this opportunity to thank our stellar team for their dedication, hard work and for their belief in our ambitious goals. I am confident that together we can scale unfathomable heights.
I would like to reiterate our commitment to people safety by implementing all possible measures to identify gaps and ensure zero fatalities across all our facilities. I would like to assure you all that we shall continue to leverage the power of automation and technology to enhance employee safety across all our operations. of automation and technology to enhance employee safety across all our operations.
In an endeavour to ensure inclusivity and promote diversity, we have developed a robust recruitment strategy and we encourage our business partners to have a diverse and inclusive workforce. I am pleased to share that across the Company, as many as 501 women employees, including 146 women engineers, are breaking the glass ceiling in mining and smelting operations. At Hindustan Zinc, women are working and flourishing in all the key functions, from driving large mining vehicles to operating plants and working in nightshifts – and we are all proud of them.
At present, women make up 19.5% of our executive workforce, 35% of our Management Committee and 21% of our Executive Committee. As a frontrunner in promoting gender, geographical, cultural and racial inclusivity, we have set a target to achieve and maintain 30% diversity among all our Executive and Management Committees.
Our commitment to develop a conducive and inclusive work environment is also visible through the induction of transgender employees across roles at Hindustan Zinc.
At the heart of our futuristic growth strategy is our strong commitment to sustainability, which continues to be pivotal to our success as a market and industry leader. In 2020, Hindustan Zinc listed a set of goals for steering its Environmental, Social and Governance (ESG) journey over the next 5 years. We had also laid out a clear strategic roadmap to achieve these goals, especially through implementation of innovations and digitisation.
Aligning ourselves with global trends and the United Nations Sustainable Development Goals (UN SDGs), we have prioritised climate change, water stewardship, circular economy, biodiversity conservation, zero harm, social impact, diversity in workforce and responsible sourcing as key tenets of our sustainability efforts.
In addition to signing a long-term renewable energy (RE) power delivery agreement, we are also the first in the country to introduce electric vehicles in underground mining. We have also set a target of converting all 900 diesel-run mining vehicles into battery-operated ones and have earmarked an investment of over US$ 1 billion for the same. Furthermore, an ‘A’ rating in climate change by CDP is testament to our commitment towards achieving net-zero emissions by 2050.
Preserving and enriching biodiversity is an integral part of Hindustan Zinc’s commitment to sustainable development. The Company’s biodiversity policy and management standards are designed to conserve and promote biodiversity, while working to protect the natural ecosystem in its areas of operation.
Wood Sandpiper at Zawar Mines Photo courtesy: International Union for Conservation of Nature (IUCN) Team
Social impact initiatives are a key to sustainability, and are a base for us to create a strong societal foundation for collective growth and development.
Our initiatives to give back to the community are, thus, a significant investment area for us, and we continued to expand the ambit of our social programmes during FY 2022-23. The prestigious ‘Corporate Social Responsibility’ award, won by Hindustan Zinc at the esteemed S&P Global Metal Award ceremony held in London in October 2022, was an important validation of our CSR focus. Projects such as Sakhi, Khushi-Nandghar, Shiksha Sambal and Unchi Udaan, to name a few, are aimed to ensure that we continue to positively impact lives at the grassroot level and empower the women and children in our communities through education and skilling opportunities, while focussing on creating people-led institutions. Our Zinc Football Academy is another feather in our cap. With state-of-the-art facilities, the football academy currently hosts over 60 students who are not only excelling in the field of sports but also academics. With steadfast belief in the transformative power of training, mentoring, and their relentless efforts, we envision our athletes reaching new heights and represent India on the global arena in the years to come.
As Chairperson, Hindustan Zinc, I am confident that we will accomplish many more milestones and work together proactively to maintain and augment our position as an industry leader. With a strong leadership, robust operational mechanisms and best-in-class digitisation efforts, we are at the inflection point of unprecedented growth. As a responsible organisation and a recognised industry leader over the years, I am confident we will achieve our targets sustainably and efficiently.
Our core strengths, experience and expertise will help us to maximise the growth opportunities available to us, while opening new vistas of expansion for the Company. Capacity expansion, volume growth, improved safety, better operational and financial performance and enhanced value creation for all stakeholders will be the key areas of focus in our growth story.
I am confident that with the continued support of our customers, partners, shareholders, investors, communities and employees, we will find many more reasons to celebrate and I look forward to a fruitful fiscal.
Sincerely,