Hindustan Copper Ltd (HCL) is involved in various processes right from copper mining to the final stage of converting copper into saleable products. The company was incorporated in 1967 to take over from National Mineral Development Corporation Ltd. HCL is the first Indian PSU and the only vertically integrated copper-producing company. In 1972, M/s Indian Copper Corporation Limited was nationalised and made part of HCL. This was a private sector company located at Ghatsila, Jharkhand, having facilities of Smelter and Refinery._x000D_ _x000D_ In 1975, the company’s fully integrated copper complex from mining to refining commenced at Khetri. In 1982, the largest hard rock open pit mine in the country was started at Malanjkhand in Madhya Pradesh with a capacity of 2 million tonnes ore. The Cast Wire Rod plant of South Wire Technology, with a capacity of 60,000 MT, was commissioned at Taloja in Maharashtra in 1989. In 2015, it acquired a secondary Copper Smelter and Refinery Unit at Jhagadia, Gujarat. During 2022-23, the company won the prestigious 35th CFBP Jamnalal Bajaj Uchit Vyavahar Puraskar._x000D_ _x000D_ As of March 2023, the company had 5 plants, which are the Indian Copper Complex in Jharkhand, the Khetri Copper Complex in Rajasthan, the Malanjkhand Copper Project in Madhya Pradesh, the Gujarat Copper Project in Gujarat, and the Taloja Copper Project in Maharashtra._x000D_

Business Segments

_x000D_ The company has only one business segment as per FY 2023 Annual Report. HCL is engaged in the manufacturing and sale of copper products, such as Continuous Cast Copper Rods, Copper Cathodes, and Copper Sulphates. In addition, the company also deals in other products, such as Sulphuric Acid, Reverts, Anode Slime and Nicker Cathode._x000D_ _x000D_ Subsidiary_x000D_ _x000D_ As of March 31, 2023, the company had only one wholly-owned subsidiary, Chattisgarh Copper Ltd, which provides consultancy services._x000D_

Corporate Actions

_x000D_ The company has no history of bonus issues, stock splits and other corporate actions._x000D_

Management Outlook

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• The company believes that the demand for copper is likely to grow in tandem with growth in the Indian economy.
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• The demand for copper in India will rise due to the rising demand from the power sector as a result of the government's emphasis on renewable energy and households' growing desire for consumer durables.
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• The company believes that the demand for copper would be supported by the manufacturers of hybrid and EVs (electric vehicles) as these use 4x more copper than traditional internal combustion engines.
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• HCL is optimistic the demand for copper due to EVs will increase by around 1.7 million tonnes by 2027. Copper demand is also expected to increase further in the health sector due to its biocidal properties.
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• The company is positive about numerous business opportunities, such as a ready market for copper concentrate in India due to large smelting/refining capacity and scope for expansion of mine capacity.
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