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 ₹ 2,10,463 Cr.
- Current Price ₹ 498
- High / Low ₹ 547 / 378
- Stock P/E 19.9
- Book Value ₹ 32.4
- Dividend Yield 5.82 %
- ROCE 61.0 %
- ROE 72.9 %
- Face Value ₹ 2.00
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 55.2%
- Company has been maintaining a healthy dividend payout of 164%
Cons
- Stock is trading at 15.4 times its book value
- Promoters have pledged or encumbered 90.3% of their holding.
- Promoter holding has decreased over last 3 years: -3.09%
* 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|
| 22,629 | 29,440 | 34,098 | 28,932 | 34,083 | 34,021 | |
| 10,957 | 13,215 | 16,583 | 15,256 | 16,652 | 16,398 | |
| Operating Profit | 11,672 | 16,225 | 17,515 | 13,676 | 17,431 | 17,623 |
| OPM % | 52% | 55% | 51% | 47% | 51% | 52% |
| 1,819 | 1,082 | 1,370 | 1,054 | 857 | 962 | |
| Interest | 386 | 290 | 333 | 955 | 1,095 | 1,035 |
| Depreciation | 2,531 | 2,917 | 3,264 | 3,468 | 3,640 | 3,714 |
| Profit before tax | 10,574 | 14,100 | 15,288 | 10,307 | 13,553 | 13,836 |
| Tax % | 25% | 32% | 31% | 25% | 24% | |
| 7,980 | 9,629 | 10,511 | 7,759 | 10,353 | 10,564 | |
| EPS in Rs | 18.89 | 22.79 | 24.88 | 18.36 | 24.50 | 25.01 |
| Dividend Payout % | 113% | 79% | 303% | 71% | 118% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 5% |
| TTM: | 9% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 3% |
| TTM: | 20% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 16% |
| 3 Years: | 17% |
| 1 Year: | -2% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 55% |
| Last Year: | 73% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 845 | 845 | 845 | 845 | 845 | 845 |
| Reserves | 31,468 | 33,436 | 12,087 | 14,350 | 12,481 | 12,852 |
| 7,201 | 2,844 | 11,881 | 8,722 | 10,967 | 11,172 | |
| 6,213 | 7,545 | 10,654 | 9,978 | 10,197 | 10,726 | |
| Total Liabilities | 45,727 | 44,670 | 35,467 | 33,895 | 34,490 | 35,595 |
| 16,808 | 17,396 | 17,622 | 18,151 | 18,608 | 19,257 | |
| CWIP | 1,922 | 2,075 | 2,237 | 1,696 | 2,606 | 2,996 |
| Investments | 12,957 | 15,052 | 10,107 | 10,452 | 9,972 | 8,720 |
| 14,040 | 10,147 | 5,501 | 3,596 | 3,304 | 4,622 | |
| Total Assets | 45,727 | 44,670 | 35,467 | 33,895 | 34,490 | 35,595 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 10,567 | 12,691 | 15,162 | 13,346 | 14,160 | |
| -2,435 | 846 | 6,529 | -3,406 | -2,706 | |
| -9,697 | -12,258 | -23,224 | -9,946 | -11,411 | |
| Net Cash Flow | -1,565 | 1,279 | -1,533 | -6 | 43 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 7 | 9 | 4 | 2 | 1 |
| Inventory Days | |||||
| Days Payable | |||||
| Cash Conversion Cycle | 7 | 9 | 4 | 2 | 1 |
| Working Capital Days | -91 | -36 | -149 | -104 | -95 |
| ROCE % | 37% | 50% | 46% | 61% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Newspaper Publication 21 Nov
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Shareholder Meeting / Postal Ballot-Notice of Postal Ballot
20 Nov - Postal ballot seeks approval for Thomas Mathew (Independent) and Ashim Kumar Modi (Government nominee); e-voting Nov 21–Dec 20, 2025.
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Hindustan Zinc Limited (HZL) Has Achieved Outstanding Recognition At The Prestigious LACP (League Of American Communications Professionals) Spotlight Awards 2025
17 Nov - HZL's Integrated Annual Report FY25: LACP Platinum ($1–10bn) — 1st India, 6th globally, 99/100.
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Declaration Of Successful Bidder Of Critical Mineral Blocks Under Critical Mineral Auctions Tranche V Conducted By The Ministry Of Mines, Government Of India
14 Nov - Hindustan Zinc declared successful bidder for 308.30 ha Tungsten block in Balepalyam; G3 exploration; composite license to be executed.
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Declaration Of Preferred Bidder Of Critical Mineral Blocks Under Critical Mineral Auctions Tranche V Conducted By The Ministry Of Mines, Government Of India
14 Nov - Declared successful bidder for 308.30 ha Tungsten block (G3) in Balepalyam; notification dated Nov 14, 2025.
Annual reports
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Financial Year 2025
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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**Dominant and Leading player **
Hindustan Zinc is self-sufficient in power with captive thermal power plants and has ventured into green energy by settingup wind power plants.[1]World’s largest underground (UG) zinc mining operations at Rampura Agucha.
Geographical presence
Company exports accounted for 25% of turnover. [2] [3]