In a tough macro environment, FY 2021-22 proved to be an exceptional year for Hindustan Zinc. We set many new operational benchmarks and notched up new milestones. I am pleased to share that we posted unprecedented numbers across both operational and financial metrics during the year, touching historically high production volumes, and record annual revenue, EBIDTA and net profit.
This was no small feat and was made possible by the dedication and hard work of our people. I would like to take a moment here to thank them all for standing by us through the turmoil of the times. I credit them for giving us many reasons to celebrate and for shaping Hindustan Zinc’s journey of excellence. We continue to steer the trajectory of our targeted initiatives to nurture a culture of high performance and inclusiveness in our workforce, which finds endorsement in the various awards and accolades we receive year-on-year and validates our people-centric policies and programmes.
We shall simultaneously continue to work concertedly towards augmenting the safety environment at our mines and sites. Given the nature of our operations, we are cognisant of the inherent risk involved in our business. It is with deep sorrow that I must inform you that despite best efforts to keep our people safe, three unfortunate incidents at our sites led to the tragic loss of four precious lives during the year. We share the grief of the bereaved families and will continue to support them in every possible way in these difficult times. We have also launched thorough investigations into all the incidents and will take corrective actions after a comprehensive root cause analysis. Let me assure you that every single life is dear to us, and we will not compromise on the safety of our people under any circumstances. Our continual investments in strengthening our safety framework through digitalisation and automation are aimed at propelling our Zero Injury vision, and we will not rest till we have achieved this goal.
We have made the 2025 Sustainability Goals an intrinsic part of our strategic approach and remain committed to surging ahead aggressively towards the realisation of these objectives. The formation of our Board level Sustainability and ESG Committee during FY 2021-22 is aligned with this commitment and facilitates our efforts towards the accomplishment of our 2025 goals and Environmental, Social and Governance priorities. The Sustainability and ESG Committee will help accelerate our transition towards 50% renewable energy in our operations – a voyage on which we have embarked as a responsible corporate citizen striving to decarbonise our mining operations.
From introduction of electric vehicles in our mines to reporting based on the Task Force on Climate-related Financial Disclosures (TCFD) framework, we have initiated a host of focussed measures to help us achieve our ESG targets. We have also undertaken a 3-year engagement with the International Union for Conservation of Nature (IUCN) for development of a Biodiversity Management Plan from no net loss approach. Our participation in the British High Commission Conference of the Parties (COP26), and the fact that Hindustan Zinc has joined the Taskforce on Nature-related Financial Disclosure (TNFD) to tackle nature related risks proactively, further underscores our commitment to deliver on our Net-Zero goal by 2050.
Most of you may be aware that the sustainability thrust at Hindustan Zinc goes beyond the organisational framework and encompasses the communities around our operations. We sustained our CSR focus during FY 2021-22 through coordinated efforts to ensure continuity of our support programmes for community livelihood, skill development and education, even while extending urgent and immediate relief to the people impacted by the COVID-19 pandemic. To facilitate remote learning amidst the pandemic, we designed subject-wise learning materials and practice papers, and arranged regular classes through online platforms as well as home visits by teachers to ensure learning outcomes, among other measures.
I am happy to share that Hindustan Zinc has received the ‘BRICS Solution for SDG Awards 2021’, for intensively promoting sustainable livelihood for 30,000 farmers, and for establishing five farmer-led producer companies.
The Company has also won the CSR Leadership Award 2021, presented by World CSR Day for transforming the lives of nearby communities. It was further honoured with ‘Leaders for Social Change’ award by the Social Story Foundation for its Sakhi Women Empowerment initiatives – another endorsement of our deep-rooted commitment to community enrichment and empowerment in line with our ESG ethos. We focussed extensively during the year on creating strong institutional structures on the ground. Some of these included federating seven new micro finance legal entities and the aforementioned constitution of five farmer-led producer companies. We also facilitated the formation of over 3,000 Anganwadi Management Committees to strengthen community ownership, with focus on children, pregnant women and new mothers.
While sustainability continues to be integral to our strategic approach, we are concurrently expanding into new markets of opportunity to steer our growth plans. At the same time, we continue to focus on augmenting our production to meet the emerging market demand. We shall continue to step up our output, efficiency, and productivity across business segments to raise the bar of performance, growth, and value delivery to all our stakeholders. In doing so, we shall follow a transparent and ethical approach, which is an integral component of our business strategy. With the ISO 37301:2021 certification received for the Company’s compliance management during the year, we have reinforced our commitment to strong corporate governance principles.
We are well positioned and fully geared to execute our plans and attain our short and long term goals. Over the past few years, we have humbly accepted the thought leadership role entrusted to us by
the industry. The responsibility is an endorsement of our capability and capacity to bring about meaningful transformation in the difficult and complex business of mining, to make it more relevant to the contemporary needs of the international zinc market. The election of our CEO, Mr. Arun Misra, as the new acting Chairman of the International Zinc Association (IZA) gives us another opportunity to represent the industry constructively on the global platform. His appointment is a matter of great pride as he is the first Indian and Asian to hold this prestigious position. Hindustan Zinc is well positioned to deliver on the important responsibility that has come with this honour.
Before I conclude, I would like to congratulate all our partners, shareholders, investors, and others on the remarkable accomplishments which will pave the way for Hindustan Zinc to steer its future with greater confidence and strength. We expect to see FY 2022-23 provide us many more reasons to celebrate in terms of both, operational excellence, and financial performance, as we strategically shift our focus towards pushing up the production of metal at our smelters. I am confident that we will continue to deliver on our goals, across every aspect of our business, with your continued cooperation, the sustained support of our people, and a focussed digitalisation drive across all our mines.
Sincerely.
