Supreme Court ruling on mining cess
The Supreme Court reserved judgment on whether states can levy additional surcharge/cess on mining. A retrospective application could increase costs, though management believes the impact is immaterial.
HINDZINC / Q1-FY25 / risks
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Hindustan Zinc · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Global zinc price volatility
Zinc prices declined from Q1 highs due to lack of Chinese stimulus, European slowdown, and geopolitical uncertainties. Management expects prices to recover only by Q4 FY25.
Silver production dip due to WIP accumulation
Sellable silver production dropped 7% YoY in Q1 due to WIP accumulation from late mode of pyro operation. While management expects liquidation, any delay could impact silver volume guidance.