Hindustan Copper Limited posts a net profit of ₹ 109.98 Crores

Hindustan Copper Limited (HCL) – (a Government of India Enterprise) under the Ministry of Mines, the Government of India declared its annual results for FY 2020-21. The Copper Miner to the Nation posted a net profit of ₹ 109.88 Crores.

Hindustan Copper Limited (HCL), a public sector undertaking under the administrative control of the Ministry of Mines, was incorporated on 9th November 1967. It has the distinction of being the nation’s only vertically integrated copper producing company as it manufactures copper right from the stage of mining to beneficiation, smelting, refining, and casting of refined copper metal into downstream saleable products.

HCL achieved a total income of ₹ 1821.61 Crores in FY 20-21. The results have reflected a turnaround story. In spite of the Covid-19 pandemic, the company has been able to achieve a total income of ₹ 1821.61 Crores in FY 2020-21 as compared to ₹ 888.81 Crores in FY 2019-20. The company also achieved a Net profit of ₹ 109.98 Crores this year as against a loss of ₹ 569.21 Crores in the FY 2019-20.

The Company markets copper cathodes, copper wire bar, continuous cast copper rod and by products, such as anode slime (containing gold, silver, etc.), copper sulphate and sulphuric acid. 

The company has been able to declare a dividend of a total amount of ₹ 33.85 Crores to be paid in FY 2021-22, as per the guidelines issued by the Department of Public Enterprises.  HCL has been able to reduce its debt burden resulting in a debt-equity ratio of 2.11 reduced from the earlier year’s 4.21.

HCL’s mines and plants are spread across five operating Units, one each in the States of Rajasthan, Madhya Pradesh, Jharkhand, Maharashtra and Gujarat as named below:

  • Khetri Copper Complex (KCC) at Khetrinagar, Rajasthan
  • Indian Copper Complex (ICC) at Ghatsila, Jharkhand
  • Malanjkhand Copper Project (MCP) at Malanjkhand, Madhya Pradesh
  • Taloja Copper Project (TCP) at Taloja, Maharashtra
  • Gujarat Copper Project (GCP) at Jhagadia, Gujarat

The company has also been continuously supporting the Government initiatives and creating infrastructure required towards mitigation of Covid-19 pandemic nearby its mining units for the local population and for its employees. 

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