HINDUSTAN ZINC LIMITED HINDUSTAN ZINC LIMITED Regd Office: Yashad Bhawan, Udaipur - 313004 PBX No. 0294-6604000, CIN - L27204RJ1966PLC001208, www.hzlindia.com | ||||||
STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31st MARCH, 2017 (Rs in Crore, except as stated) | ||||||
P A R T I C U L A R S | Quarter ended | Year ended | ||||
31.03.2017 | 31.12.2016 | 31.03.2016 | 31.03.2017 | 31.03.2016 | ||
1 | Revenue from operation Other Income Total income Expenses
Profit before exceptional Items and tax Exceptional items Profit before tax Tax Expense Current tax Deferred tax Net Profit for the period A.(i) Items that will not be reclassified to profit or loss (ii) Income tax relating to items that will not be reclassified to profit or loss B.(i) Items that will be reclassified to profit or loss (ii) Income tax relating to items that will be reclassified to profit or loss Other Comprehensive Income Total Comprehensive Income for the period Paid up Equity Share Capital -(face value Rs 2 each) Reserves (excluding Revaluation Reserve) as shown in the Audited Balance Sheet Earnings per share (of Rs 2 each) (not annualised except for year ended March):
| Audited (refer | Unaudited | Audited | Audited | Audited |
note 6) | ||||||
6,756.15 | 5,386.50 | 3,453.59 | 18,797.99 | 15,463.13 | ||
2 | 481.13 | 588.15 | 744.01 | 2,473.72 | 2,762.50 | |
7,237.28 | 5,974.65 | 4,197.60 | 21,271.71 | 18,225.63 | ||
3 | ||||||
- | - | 0.54 | 25.79 | 51.34 | ||
- | - | - | 336.37 | - | ||
(200.36) | (233.94) | 148.82 | (676.25) | 183.46 | ||
189.51 | 178.32 | 193.89 | 722.02 | 773.87 | ||
532.11 | 458.86 | 201.11 | 1,811.22 | 744.99 | ||
393.45 | 376.67 | 217.61 | 1,060.42 | 1,403.61 | ||
846.31 | 716.58 | 346.17 | 2,269.14 | 1,634.02 | ||
14.18 | 45.09 | 9.00 | 201.69 | 16.93 | ||
1,779.20 | 1,565.50 | 1,232.75 | 5,322.07 | 4,763.90 | ||
3,554.40 | 3,107.08 | 2,349.89 | 11,072.47 | 9,572.12 | ||
3 | 3,682.88 | 2,867.57 | 1,847.71 | 10,199.24 | 8,653.51 | |
4 | - | - | 0.41 | - | 30.11 | |
5 | 3,682.88 | 2,867.57 | 1,847.30 | 10,199.24 | 8,623.40 | |
820.65 | 605.24 | 383.02 | 2,195.68 | 1,805.24 | ||
(194.73) | (57.57) | (682.94) | (312.03) | (1,357.20) | ||
6 | 3,056.96 | 2,319.90 | 2,147.22 | 8,315.59 | 8,175.36 | |
8.95 | (8.31) | (7.57) | (3.91) | (12.32) | ||
(3.09) | 2.88 | 4.25 | 1.36 | 4.25 | ||
(5.50) | 5.45 | 6.90 | 77.57 | 10.00 | ||
0.25 | (20.13) | (0.24) | (19.88) | (3.64) | ||
7 | 0.61 | (20.11) | 3.34 | 55.14 | (1.71) | |
8 | 3,057.57 | 2,299.79 | 2,150.56 | 8,370.73 | 8,173.65 | |
9 | 845.06 | 845.06 | 845.06 | 845.06 | 845.06 | |
10 | 29,959.50 | 36,540.13 | ||||
11 | ||||||
7.23 | 5.49 | 5.08 | 19.68 | 19.35 | ||
7.23 | 5.49 | 5.08 | 19.68 | 19.35 | ||
Statement of Assets and Liabilities | Rs in Crore | |
P A R T I C U L A R S | As at 31.03.2017 | As at 31.03.2016 |
Audited | Audited | |
| 9,865.46 3,071.31 127.52 18.83 2,747.98 1,315.36 | 10,265.20 2,428.22 120.06 19.05 2,497.85 951.80 |
17,146.46 | 16,282.18 | |
1,935.81 23,782.66 135.99 189.40 8,190.97 1.30 4.63 408.20 | 1,058.22 35,221.17 106.79 51.04 1.81 1.54 5.15 466.90 | |
34,648.96 | 36,912.62 | |
51,795.42 | 53,194.80 | |
845.06 29,959.50 | 845.06 36,540.13 | |
30,804.56 | 37,385.19 | |
92.70 556.52 111.20 | 101.34 562.87 18.67 | |
760.42 | 682.88 | |
7,907.75 1,205.13 8,603.12 2,327.51 17.21 169.72 | - 930.60 10,547.82 3,503.74 30.81 113.76 | |
20,230.44 | 15,126.73 | |
51,795.42 | 53,194.80 |
Unaudited Audited Audited Audited
1 | Segment Revenue (Sales/income from operations) | |||||
a) | Zinc, Lead and Silver | |||||
(i) Zinc, Lead and others | 6,106.66 | 4,845.25 | 2,937.79 | 16,577.02 | 13,574.91 | |
(ii) Silver Metal | 563.50 | 482.96 | 437.03 | 1,888.38 | 1,501.40 | |
Total | 6,670.16 | 5,328.21 | 3,374.82 | 18,465.40 | 15,076.31 | |
b) | Wind Energy | 28.56 | 19.79 | 24.23 | 176.21 | 164.43 |
Sales/Income from operations | 6,698.72 | 5,348.00 | 3,399.05 | 18,641.61 | 15,240.74 | |
2 a) | Segment Result (Profit before interest and tax) Zinc, Lead and Silver | |||||
(i) Zinc, Lead and others | 2,778.67 | 2,037.84 | 750.42 | 6,468.48 | 4,645.51 | |
(ii) Silver Metal | 444.95 | 380.19 | 348.55 | 1,486.36 | 1,178.66 | |
Total | 3,223.62 | 2,418.03 | 1,098.97 | 7,954.84 | 5,824.17 | |
b) | Wind Energy | 16.11 | (10.72) | 8.57 | 79.13 | 130.38 |
Total | 3,239.73 | 2,407.31 | 1,107.54 | 8,033.97 | 5,954.55 | |
Less: Interest | 14.18 | 45.09 | 9.00 | 201.69 | 16.93 | |
Less: Exceptional Items | - | - | 0.41 | - | 30.11 |
Add:Other unallocable income net of unallocable expenditure 457.33 505.35 749.17 2,366.96 2,715.89
Profit before Tax 3,682.88 2,867.57 1,847.30 10,199.24 8,623.40 Segment Assetsa) Zinc, Lead and Silver 15,559.15 15,869.98 14,296.05 15,559.15 14,296.05
b) Wind Energy 772.55 783.47 814.67 772.55 814.67
c) Unallocated 35,463.72 28,618.49 38,084.08 35,463.72 38,084.08
51,795.42 45,271.94 53,194.80 51,795.42 53,194.80 Segment Liabilitiesa) Zinc, Lead and Silver 4,710.95 3,449.61 3,441.81 4,710.95 3,441.81
b) Wind Energy 11.79 11.80 7.06 11.79 7.06
c) Unallocated 16,268.12 79.14 12,360.74 16,268.12 12,360.74
20,990.86 3,540.55 15,809.61 20,990.86 15,809.61 Capital Employed 30,804.56 41,731.39 37,385.19 30,804.56 37,385.19 NOTES:The above results for the quarter and year ended March 31, 2017 have been reviewed by Audit Committee and approved by the Board of Directors at their meeting held on April 20, 2017.
The financial results of the Company have been prepared in accordance with the Indian Accounting Standards ("Ind AS") as prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015, as amended.The Company adopted Ind AS from April 1, 2016 with the date of transition as April 1, 2015.Financial results for all the periods presented have been prepared in accordance with the recognition and measurement principles of Ind AS.
Effective April 1, 2016, the method of depreciation on Plant and Equipment has been changed from Straight Line Method to Written Down Value Method on remaining useful life, resulting in higher depreciation charge of Rs 214 Crore for the quarter ended March 31, 2017 (Rs 711 Crore for the year ended March, 2017).
During the quarter ended March 31, 2017, Power and Fuel expenses have been reduced by Rs 24 Crore (Rs 130 Crore for the year ended March 31, 2017), pursuant to reversal of excess provisions of prior years.
The Board of Directors in its meeting held on March 22, 2017, has declared special interim dividend of 1375%, ie Rs 27.50 per equity share of Rs 2 each for the year 2016-17 with a record date of March 30, 2017. This, together with first interim dividend already paid, is 1470% ie Rs 29.40 per equity share for the year 2016-17.
The figures of the last quarter are the balancing figures between audited figures for the full financial year and unaudited published year to date figures up to the third quarter of the current financial year.
Reconciliation of Profit after tax between Ind-AS and erstwhile Indian GAAP
Rs in Crore Quarter ended Year ended
Nature of adjustments
31.03.2016 31.03.2016
Net profit as per erstwhile Indian GAAP 2,149.22 8,166.58
Fair Valuation of Investment through OCI (5.32) 0.71
Actuarial gains / losses on Employee benefits schemes taken to OCI
3.32 8.07
Net profit as per Ind-AS 2,147.22 8,175.36 Other Comprehensive Income 3.34 (1.71) Total Comprehensive Income for the period 2,150.56 8,173.65
Shareholders Equity as on March 31, 2016 as per Ind AS and erstwhile Indian GAAP is same at Rs 37,385.19 Crore
Date: April 20, 2017 Sunil Duggal
Place: Mumbai CEO & Whole-time Director
Hindustan Zinc Limited published this content on 20 April 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 19 May 2017 13:14:15 UTC.
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