Hindustan Zinc 'preferred bidder' for critical mineral blocks in Rajasthan and UP

Vedanta-unit Hindustan Zinc Ltd. informed the exchanges on Wednesday, May 28, that it has been declared the "Preferred Bidder" in the auction of critical and strategic mineral blocks conducted by the Ministry of Mines.

As per the company's regulatory filing, it has secured the top position for two blocks.

Jhandawali–Satipura Amalgamated Potash and Halite Block in Rajasthan, with the highest final price offer of 3.05%

Nawatola–Laband Rare Earth Elements (REE) Block in Uttar Pradesh, with the highest final price offer of 3.55%

As outlined in the tender documents, both blocks are at the G3 level of exploration. The Jhandawali–Satipura block spans 1,841.22 hectares, while the Nawatola–Laband REE block covers 201.01 hectares.

Last month, Hindustan Zinc reported its March quarter results, which were higher on a year-on-year basis, as well as when compared to estimates from a CNBC-TV18 poll.

The company reported revenue of ₹9,087 crore, which was higher than the CNBC-TV18 poll of ₹8,853 crore. On a year-on-year basis, the numbers were up 20%.

Net profit for the company grew by 47% from the same quarter last year to ₹3,003 crore, which is well above the CNBC-TV18 poll of ₹2,615 crore.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) at the end of the March quarter stood at ₹4,820 crore for Hindustan Zinc, a growth of 32% from the year-ago quarter. A CNBC-TV18 poll had projected the figure to be ₹4,503 crore.

EBITDA margin for the quarter expanded by nearly 500 basis points to 53% from 48.3% last year. A CNBC-TV18 poll had projected a figure of 50.9%.

Shares of Hindustan Zinc are trading 0.74% higher at ₹454.75. The stock is up 2% so far in 2025.