Hindustan Zinc Ventures into Fertilizer Production

Hindustan Zinc Ltd, a Vedanta group company, is set to begin operations at its new fertilizer manufacturing plant in Rajasthan by the next financial year, according to Chairperson Priya Agarwal Hebbar. The plant, located at Chanderiya in Chittorgarh district, will have a capacity of 0.5 million tonnes per annum.

The company's entry into fertilizer production is part of a strategic diversification effort. Last year, Hindustan Zinc commissioned a 30 KTPA zinc alloy plant, expanding its value-added products portfolio, which now constitutes 22% of its business. The upcoming plant will address the domestic demand for DAP fertilizer, which is currently imported.

Hindustan Zinc is also exploring high-potential mineral reserves, including copper, lithium, and nickel, essential for sectors like electric vehicles and clean technologies. Reporting a 47.3% increase in net profit, the company's revenue for the latest quarter grew to Rs 9,314 crore, marking its best-ever Q4 profit of Rs 3,003 crore.

(With inputs from agencies.)