Hindustan Zinc chairperson Kiran Agarwal steps down, Priya Agarwal to take over

Hindustan Zinc, a subsidiary of Vedanta, on Thursday informed that the company's chairperson and director, Kiran Agarwal has stepped down, with effect from 18 January, 2023.

Hindustan Zinc's nomination and remuneration committee has approved the appointment of Priya Agarwal to the position of chairman of the company, with immediate effect.

"It is to inform that Mrs. Kiran Agarwal, Chairperson and director of the Company had stepped down from the board w.e.f. January 18, 2023 to pursue Vedanta Group Chairman’s vision to give back 75% of his wealth to the society through his personal foundation," said the company in its regulatory filing.

"Accordingly, the Board of Directors in its meeting held on January 19, 2023, on the recommendation of Nomination and Remuneration Committee of the Company, had considered and approved the appointment of Mrs. Priya Agarwal having DIN 05162177 as Additional Director and Chairperson of the Company with immediate effect, subject to approval of the shareholders," it added.

Hindustan Zinc, a subsidiary of Vedanta, on Thursday reported a consolidated net profit of ₹2,156 crore for the December quarter, which is 20% lower than ₹2,701 crore reported in the year-ago period.

The consolidated revenue of the company declined by 2.7 per cent to ₹7,628 crore in the quarter under review from ₹7,841 crore a year ago.

The company's board recommended a third interim dividend of ₹13 per equity share for Q41Y23. This will amount to a payout of ₹5,493 crore.

Hindustan Zinc has fixed January 30 as the record to determine eligible shareholders for the third interim dividend.

Shares of Hindustan Zinc were up 4.28% to ₹376.80 apiece on the BSE at the close of trade on Thursday.