Hindustan Zinc Ltd

AI

Hindustan Zinc Ltd

₹ 556 -2.39%
06 Nov 9:22 a.m.
About

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]

Key Points

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.

  • Market Cap ₹ 2,35,076 Cr.
  • Current Price ₹ 556
  • High / Low ₹ 733 / 454
  • Stock P/E 11.3
  • Book Value ₹ 70.9
  • Dividend Yield 1.97 %
  • ROCE 69.5 %
  • ROE 76.8 %
  • 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 69.0%

Cons

  • Stock is trading at 8.05 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
6,791 7,310 7,549 8,130 8,252 8,614 9,087 7,771 8,549 10,980 13,544 13,747 15,093
3,652 3,789 3,900 4,184 4,129 4,115 4,267 3,912 4,104 4,926 5,838 5,697 5,845
Operating Profit 3,139 3,521 3,649 3,946 4,123 4,499 4,820 3,859 4,445 6,054 7,706 8,050 9,248
OPM % 46% 48% 48% 49% 50% 52% 53% 50% 52% 55% 57% 59% 61%
223 296 273 268 187 218 227 279 238 318 280 316 374
Interest 232 243 262 256 303 285 251 240 259 195 187 132 88
Depreciation 825 905 937 844 877 905 1,014 913 882 947 1,048 920 962
Profit before tax 2,305 2,669 2,723 3,114 3,130 3,527 3,782 2,985 3,542 5,230 6,751 7,314 8,572
Tax % 25% 24% 25% 25% 26% 24% 21% 25% 25% 25% 25% 25% 25%
1,729 2,028 2,038 2,345 2,327 2,678 3,003 2,234 2,649 3,916 5,033 5,469 6,412
EPS in Rs 4.09 4.80 4.82 5.55 5.51 6.34 7.11 5.29 6.27 9.27 11.91 12.94 15.18
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
22,629 29,440 34,098 28,932 34,083 40,844 53,364
10,957 13,215 16,583 15,256 16,652 18,764 22,306
Operating Profit 11,672 16,225 17,515 13,676 17,431 22,080 31,058
OPM % 52% 55% 51% 47% 51% 54% 58%
1,819 1,082 1,370 1,054 857 1,099 1,288
Interest 386 290 333 955 1,095 881 602
Depreciation 2,531 2,917 3,264 3,468 3,640 3,790 3,877
Profit before tax 10,574 14,100 15,288 10,307 13,553 18,508 27,867
Tax % 25% 32% 31% 25% 24% 25%
7,980 9,629 10,511 7,759 10,353 13,832 20,830
EPS in Rs 18.89 22.79 24.88 18.36 24.50 32.74 49.30
Dividend Payout % 113% 79% 303% 71% 118% 0%
Compounded Sales Growth
10 Years: %
5 Years: 13%
3 Years: 6%
TTM: 57%
Compounded Profit Growth
10 Years: %
5 Years: 12%
3 Years: 10%
TTM: 97%
Stock Price CAGR
10 Years: 8%
5 Years: 12%
3 Years: 25%
1 Year: 22%
Return on Equity
10 Years: %
5 Years: 50%
3 Years: 69%
Last Year: 77%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 Sep 2026
Equity Capital 845 845 845 845 845 845 845
Reserves 31,468 33,436 12,087 14,350 12,481 21,784 29,121
7,201 2,844 11,881 8,722 10,967 8,728 6,655
6,213 7,545 10,654 9,978 10,197 11,013 10,849
Total Liabilities 45,727 44,670 35,467 33,895 34,490 42,370 47,470
16,808 17,396 17,622 18,151 18,608 19,937 19,841
CWIP 1,922 2,075 2,237 1,696 2,606 3,409 4,396
Investments 12,957 15,052 10,107 10,452 9,972 14,468 15,912
14,040 10,147 5,501 3,596 3,304 4,556 7,321
Total Assets 45,727 44,670 35,467 33,895 34,490 42,370 47,470

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
10,567 12,691 15,162 13,346 14,160 17,008
-2,435 846 6,529 -3,406 -2,706 -8,906
-9,697 -12,258 -23,224 -9,946 -11,411 -7,901
Net Cash Flow -1,565 1,279 -1,533 -6 43 201
Free Cash Flow 8,140 9,723 11,587 9,531 10,161 11,746
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 106% 93% 104% 110% 101% 98%

Ratios

Consolidated / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 7 9 4 2 1 4
Inventory Days
Days Payable
Cash Conversion Cycle 7 9 4 2 1 4
Working Capital Days -91 -36 -149 -104 -95 -75
ROCE % 37% 50% 46% 61% 70%

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
Silver Production
MT
Ore Reserves & Resources (R&R)
Mt
Zinc Cost of Production (ex-Royalty)
USD/MT
Domestic Primary Zinc Market Share
%
Domestic Coal Share in Captive Power Plants
%
Renewable Energy Share in Power Mix
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
64.92% 64.92% 64.92% 63.42% 63.42% 63.42% 61.84% 61.84% 61.84% 60.71% 60.71% 60.71%
0.69% 0.60% 0.74% 1.01% 1.38% 1.43% 1.36% 1.32% 1.54% 2.39% 2.20% 2.37%
2.97% 2.98% 3.01% 3.12% 4.12% 4.14% 4.81% 4.92% 4.68% 4.84% 4.96% 4.84%
29.54% 29.54% 29.54% 29.54% 27.92% 27.92% 27.92% 27.92% 27.92% 27.92% 27.92% 27.92%
1.88% 1.97% 1.78% 2.92% 3.16% 3.10% 4.07% 4.00% 4.01% 4.12% 4.21% 4.15%
No. of Shareholders 4,01,9854,22,0724,45,9296,24,0256,94,4307,12,8848,19,8837,99,7687,93,8828,97,2579,18,2458,99,357

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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