Hind Zinc

•Strong beat than estimates – The company reported 14% higher EBITDA/PAT compared to estimates driven by higher volume. 
•Numbers improved due to reversal of mining royalty – The company had provisioned for 50% of District Mineral Fund in last quarter, which government has pegged to 30%. The company reversed these additional charges in 2Q. 
•Costs movement was also advantageous – Strong improvement was seen in Power & fuel and stores & spares movement, which also helped in profit beat. 
•Cash increased – Cash balance increased by Rs3,800cr in 1H to Rs34,600cr (52% of market cap)p