Hindustan Zinc Names Ex-SAIL Chief Amarendu Prakash As CEO-Designate

Hindustan Zinc named Amarendu Prakash as its CEO-designate on Friday. The company also reported its first quarter on the same day. The profit more than doubled on the back of a surge in base and precious metal prices.

Notably, Prakash, former chairman and managing director of the country's largest state-owned steel producer SAIL, will take charge on August 1, replacing Arun Misra, whose tenure ends on July 31.

Prakash brings more than three decades of experience in India's steel sector. He served as Chairman and Managing Director of Steel Authority of India Limited (SAIL) from 2023 to 2026, where he was involved in initiatives around operational excellence, capacity expansion, digital transformation and organisational performance.

Separately, Amit Gupta has taken charge as Chief Financial Officer of Hindustan Zinc, effective June 1, 2026. Gupta, a qualified Chartered Accountant, has more than two decades of experience in strategic finance, capital allocation, business transformation, cost optimisation and corporate governance across Vedanta Group companies.

Profit More Than Doubles

The Vedanta Group company posted a consolidated net profit of ₹5,469 crore for the quarter ended June 30, compared with ₹2,234 crore in the same period last year. Its net profit margin improved to 40% from 29% a year earlier, reflecting stronger realisations and operating performance.

Revenue from operations rose 77% year-on-year to ₹13,747 crore, driven mainly by higher international prices of zinc and silver. Total expenses increased 33.2% to ₹6,749 crore during the quarter, though the rise was outpaced by revenue growth.

The earnings were supported by a rally in base and precious metal prices. Zinc prices strengthened amid supply concerns, while silver surged on increased safe haven demand during the ongoing conflict involving Iran. According to a Jefferies note, spot zinc prices rose 31% during the period, while spot silver prices more than doubled.

Hindustan Zinc, India's largest integrated zinc producer accounting for nearly three-fourths of the domestic zinc market, also reported modest growth in production. Mined metal production increased 1% year-on-year to 268 kilotonnes during the quarter, while refined metal output rose 4% to 260 kilotonnes.