Hutti Gold Mines Share Price | Live Update | Company Overview

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Company Overview

Hutti Gold Mines Company Limited (HGML), the only gold producer in the country, is engaged in the business of exploration, development and exploitation of gold mines in the state of Karnataka.  HGML is owned by Govt. of Karnataka with around 74% stake and the company

Business Model

HGML operates one mine each in Raichur and Chitradurg districts of Karnataka. During FY 2021, HGML produced 1,100 kgs of gold per annum and the company is planning to raise its annual output to 5,000 kgs per annum within the next 2 years.

The Hutti Gold Mine in Raichur district is a fully integrated unit with 550,000 tonnes production capacity of gold per annum. The company is also in wind power generation business and generated 185 lakhs KWh of wind power during FY 2021. 

During FY 2021, the company achieved turnover of ₹ 599 crores and net profit of ₹ 148 crores. The company is almost debt-free, and is currently engaged in the construction of a new circular shaft at Hutti with investment of ₹ 232 crores.

Registered Office

The registered office of the company is located at KHB Shopping Complex, National Games Village, Koramangala, Bangalore. 

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