Hindustan Zinc CFO Sandeep Modi Steps Down; Company Seeks New Leader

May 04, 2026

Key Leadership Change at Hindustan Zinc

Hindustan Zinc Limited announced on May 4, 2026, that Chief Financial Officer (CFO) Sandeep Modi will depart the company on May 30, 2026, to pursue other career ventures. The company has initiated the process to find a successor to ensure leadership continuity.

This transition occurs as the company navigates its financial operations and strategic direction. Earlier in April 2026, Hindustan Zinc received an administrative warning from the Securities and Exchange Board of India (SEBI) regarding procedural compliance lapses, though no penalty was imposed.

Modi's Tenure and Experience

Sandeep Modi joined Hindustan Zinc as CFO and Key Managerial Personnel (KMP) in April 2023, bringing over 18 years of experience in finance, accounting, and corporate banking. Previously, he served as CFO for Bharat Aluminium Company and Talwandi Sabo Power, both Vedanta Group entities. During his time at Hindustan Zinc, Modi was instrumental in key financial transactions and driving company results.

Navigating the Transition

The board of Hindustan Zinc will oversee the selection process for a new CFO, aiming for a qualified successor to maintain the company's financial stewardship and operational stability. Investors will be closely observing the timeline for this appointment and the profile of the chosen candidate.

Interim arrangements will be managed for financial reporting and strategic financial decisions until a new CFO is in place. Potential risks include a period of uncertainty regarding financial leadership and any disruption in the handover process that could impact market sentiment.

Sector and Financial Performance Snapshot

Hindustan Zinc operates in the metals and mining sector alongside peers such as Vedanta Ltd., Hindalco Industries Ltd., National Aluminium Company Ltd (NALCO), and Hindustan Copper Ltd. Vedanta is the parent company, making leadership shifts particularly notable.

The company's financial performance remains strong. For the full year ended March 31, 2026, Hindustan Zinc reported record annual revenue of ₹40,844 crore and a net profit of ₹13,832 crore. The fourth quarter ended March 31, 2026, saw revenue of ₹13,544 crore and a net profit of ₹5,033 crore.

What to Watch Next

Key areas of focus for investors and stakeholders will be the announcement of Sandeep Modi's successor, the chosen candidate's profile and experience, and the company's continued ability to maintain financial stability and strategic direction during this leadership transition.