Hindustan Zinc Ltd
Incorporated in 1966, Hindustan Zinc in Zinc-Lead and Silver business is world’s 2nd largest integrated Zinc producer and Hindustan Zinc is the 3rd largest silver producer globally with an annual capacity of 800MT . The company has a market share of ~75% of the growing Zinc market in India with its headquarters at Zinc City, Udaipur along with Zinc-Lead mines and smelting complexes spread across the state of Rajasthan.[1]
- Market Cap ₹ 2,51,026 Cr.
- Current Price ₹ 594
- High / Low ₹ 733 / 418
- Stock P/E 14.8
- Book Value ₹ 53.2
- Dividend Yield 1.87 %
- ROCE 69.2 %
- ROE 76.4 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is expected to give good quarter
- Company has a good return on equity (ROE) track record: 3 Years ROE 68.7%
- Company has been maintaining a healthy dividend payout of 73.5%
Cons
- Stock is trading at 10.8 times its book value
- Promoter holding has decreased over last 3 years: -4.21%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Commodities Metals & Mining Non - Ferrous Metals Zinc
Part of BSE 500 BSE 200 BSE Dollex 200 Nifty Next 50 Nifty 500
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 14,788 | 14,181 | 17,273 | 22,082 | 21,118 | 18,561 | 22,629 | 29,440 | 34,098 | 28,934 | 33,969 | 40,658 | 46,622 | |
| 7,338 | 7,923 | 7,534 | 9,812 | 10,448 | 9,691 | 10,957 | 13,214 | 16,577 | 15,253 | 16,630 | 18,729 | 20,531 | |
| Operating Profit | 7,450 | 6,258 | 9,739 | 12,270 | 10,670 | 8,870 | 11,672 | 16,226 | 17,521 | 13,681 | 17,339 | 21,929 | 26,091 |
| OPM % | 50% | 44% | 56% | 56% | 51% | 48% | 52% | 55% | 51% | 47% | 51% | 54% | 56% |
| 2,788 | 3,127 | 2,474 | 1,956 | 1,782 | 1,911 | 1,819 | 1,082 | 1,373 | 1,083 | 870 | 1,102 | 1,151 | |
| Interest | 24 | 17 | 202 | 246 | 113 | 112 | 386 | 290 | 333 | 955 | 1,111 | 880 | 773 |
| Depreciation | 644 | 745 | 1,811 | 1,483 | 1,883 | 2,279 | 2,531 | 2,917 | 3,264 | 3,466 | 3,634 | 3,789 | 3,796 |
| Profit before tax | 9,570 | 8,623 | 10,200 | 12,497 | 10,456 | 8,390 | 10,574 | 14,101 | 15,297 | 10,343 | 13,464 | 18,362 | 22,673 |
| Tax % | 15% | 5% | 18% | 26% | 24% | 19% | 25% | 32% | 31% | 25% | 24% | 25% | |
| 8,178 | 8,175 | 8,316 | 9,276 | 7,956 | 6,805 | 7,980 | 9,630 | 10,520 | 7,787 | 10,279 | 13,712 | 16,933 | |
| EPS in Rs | 19.35 | 19.35 | 19.68 | 21.95 | 18.83 | 16.11 | 18.89 | 22.79 | 24.90 | 18.43 | 24.33 | 32.45 | 40.08 |
| Dividend Payout % | 23% | 144% | 149% | 36% | 106% | 102% | 113% | 79% | 303% | 71% | 119% | 31% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 12% |
| 3 Years: | 6% |
| TTM: | 39% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 12% |
| 3 Years: | 9% |
| TTM: | 66% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 13% |
| 3 Years: | 22% |
| 1 Year: | 33% |
| Return on Equity | |
|---|---|
| 10 Years: | 33% |
| 5 Years: | 50% |
| 3 Years: | 69% |
| Last Year: | 76% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 845 | 845 | 845 | 845 | 845 | 845 | 845 | 845 | 845 | 845 | 845 | 845 |
| Reserves | 42,508 | 36,540 | 29,960 | 35,087 | 32,760 | 39,465 | 31,468 | 33,437 | 12,097 | 14,388 | 12,445 | 21,630 |
| 0 | 0 | 7,908 | 0 | 2,538 | 611 | 7,201 | 2,844 | 11,881 | 8,722 | 10,964 | 8,726 | |
| 5,639 | 15,810 | 13,082 | 7,000 | 6,315 | 6,054 | 6,213 | 7,545 | 10,631 | 9,949 | 10,164 | 10,972 | |
| Total Liabilities | 48,992 | 53,195 | 51,795 | 42,932 | 42,458 | 46,975 | 45,727 | 44,671 | 35,454 | 33,904 | 34,418 | 42,173 |
| 9,446 | 10,385 | 9,993 | 11,302 | 14,778 | 16,469 | 16,808 | 17,396 | 17,620 | 18,055 | 18,488 | 19,802 | |
| CWIP | 2,005 | 2,428 | 3,071 | 3,220 | 2,254 | 2,489 | 1,922 | 2,075 | 2,107 | 1,529 | 2,552 | 3,382 |
| Investments | 27,254 | 35,221 | 23,783 | 20,222 | 19,488 | 20,329 | 12,957 | 15,052 | 10,107 | 10,452 | 9,971 | 14,440 |
| 10,288 | 5,161 | 14,948 | 8,188 | 5,938 | 7,688 | 14,040 | 10,148 | 5,620 | 3,868 | 3,407 | 4,549 | |
| Total Assets | 48,992 | 53,195 | 51,795 | 42,932 | 42,458 | 46,975 | 45,727 | 44,671 | 35,454 | 33,904 | 34,418 | 42,173 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 5,531 | 6,451 | 7,588 | 9,800 | 8,781 | 6,621 | 10,567 | 12,691 | 15,166 | 13,343 | 14,127 | 16,857 | |
| -3,807 | -3,236 | 12,007 | 2,396 | -1,092 | -2,648 | -2,435 | 846 | 6,525 | -3,405 | -2,658 | -8,760 | |
| -1,902 | -3,214 | -11,266 | -18,612 | -9,630 | -2,098 | -9,697 | -12,258 | -23,224 | -9,946 | -11,426 | -7,899 | |
| Net Cash Flow | -178 | 1 | 8,329 | -6,416 | -1,941 | 1,875 | -1,565 | 1,279 | -1,533 | -8 | 43 | 198 |
| Free Cash Flow | 3,920 | 4,918 | 5,601 | 7,077 | 5,440 | 3,003 | 8,140 | 9,723 | 11,696 | 9,855 | 9,814 | 11,584 |
| CFO/OP | 102% | 132% | 102% | 105% | 106% | 87% | 106% | 93% | 104% | 110% | 101% | 98% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 16 | 3 | 3 | 3 | 3 | 7 | 7 | 9 | 4 | 2 | 1 | 4 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 16 | 3 | 3 | 3 | 3 | 7 | 7 | 9 | 4 | 2 | 1 | 4 |
| Working Capital Days | -14 | -347 | -375 | -67 | -98 | -56 | -91 | -36 | -148 | -103 | -95 | -75 |
| ROCE % | 25% | 20% | 26% | 33% | 28% | 22% | 26% | 37% | 50% | 46% | 61% | 69% |
Insights
In beta| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mined Metal Production kt |
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| Refined Metal Production kt |
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| Silver Production MT |
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| Ore Reserves & Resources (R&R) Mt |
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| Zinc Cost of Production (ex-Royalty) USD/MT |
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| Domestic Primary Zinc Market Share % |
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| Domestic Coal Share in Captive Power Plants % |
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| Renewable Energy Share in Power Mix % |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
- Renewable power consumption rises to 22%; target 70% by FY28, with 530 MW round-the-clock arrangement.
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Announcement under Regulation 30 (LODR)-Change in Directorate
- Dr. Yogesh Attray appointed Non-Executive Independent Director for three years from August 14, 2026.
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Board Meeting Outcome for Disclosure Under Regulation 30 & 51(2) Read With Schedule III Of SEBI (LODR) Regulations, 2015, As Amended ('SEBI Listing Regulations')
- Dr Yogesh Attray appointed Non-Executive Independent Director of Hindustan Zinc for three years from August 14, 2026.
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Disclosure Under Regulation 30 & 51(2) Of SEBI (LODR) Regulations, 2015, As Amended
- Ministry of Mines appoints Dr. Yogesh Attray as non-official part-time director for 3 years from August 14, 2026.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Hindustan Zinc to attend Motilal Oswal 22nd Annual Global Investor Conference on August 18, 2026 in Mumbai.
Annual reports
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Annual Report 2026
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Annual Report 2025
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Annual Report 2024
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Annual Report 2023
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Annual Report 2022
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Annual Report 2021
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Annual Report 2020
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Annual Report 2019
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Annual Report 2018
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Annual Report 2017
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Annual Report 2016
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Annual Report 2015
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Annual Report 2014
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Annual Report 2013
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Annual Report 2012
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Concalls
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Business Segments[1]
a) Zinc, Lead and Silver (94% in Q1 FY27 vs 97% in Q1 FY26): [2] [3]
The company is the world’s largest integrated zinc producer and is amongst the top 10 silver producers globally. It supplies to more than 40 countries and holds a market share of about 74% of the primary zinc market in India. Its portfolio supports key sectors like infrastructure, railways, mobility, power, renewable energy and digital technologies, with applications ranging from construction, automotive and batteries to solar PV, semiconductors, jewellery and emerging solutions like zinc-air batteries and water purification.