Hindustan Zinc Ltd

Hindustan Zinc Ltd

₹ 629 -0.94%
11 May - close price
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

**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]

  • Market Cap 2,65,857 Cr.
  • Current Price 629
  • High / Low 733 / 413
  • Stock P/E 19.2
  • Book Value 53.6
  • Dividend Yield 1.75 %
  • ROCE 69.6 %
  • 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%
  • Company has been maintaining a healthy dividend payout of 84.4%

Cons

  • Stock is trading at 11.8 times its book value
  • Promoter holding has decreased over last quarter: -1.13%

* 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

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
8,509 7,282 6,791 7,310 7,549 8,130 8,252 8,614 9,087 7,771 8,549 10,980 13,544
4,254 3,935 3,652 3,789 3,900 4,184 4,129 4,115 4,267 3,912 4,104 4,926 5,838
Operating Profit 4,255 3,347 3,139 3,521 3,649 3,946 4,123 4,499 4,820 3,859 4,445 6,054 7,706
OPM % 50% 46% 46% 48% 48% 49% 50% 52% 53% 50% 52% 55% 57%
354 282 223 296 273 268 187 218 227 279 238 318 280
Interest 176 218 232 243 262 256 303 285 251 240 259 195 187
Depreciation 928 801 825 905 937 844 877 905 1,014 913 882 947 1,048
Profit before tax 3,505 2,610 2,305 2,669 2,723 3,114 3,130 3,527 3,782 2,985 3,542 5,230 6,751
Tax % 26% 25% 25% 24% 25% 25% 26% 24% 21% 25% 25% 25% 25%
2,583 1,964 1,729 2,028 2,038 2,345 2,327 2,678 3,003 2,234 2,649 3,916 5,033
EPS in Rs 6.11 4.65 4.09 4.80 4.82 5.55 5.51 6.34 7.11 5.29 6.27 9.27 11.91
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
22,629 29,440 34,098 28,932 34,083 40,844
10,957 13,215 16,583 15,256 16,652 18,780
Operating Profit 11,672 16,225 17,515 13,676 17,431 22,064
OPM % 52% 55% 51% 47% 51% 54%
1,819 1,082 1,370 1,054 857 1,115
Interest 386 290 333 955 1,095 881
Depreciation 2,531 2,917 3,264 3,468 3,640 3,790
Profit before tax 10,574 14,100 15,288 10,307 13,553 18,508
Tax % 25% 32% 31% 25% 24% 25%
7,980 9,629 10,511 7,759 10,353 13,832
EPS in Rs 18.89 22.79 24.88 18.36 24.50 32.74
Dividend Payout % 113% 79% 303% 71% 118% 64%
Compounded Sales Growth
10 Years: %
5 Years: 13%
3 Years: 6%
TTM: 20%
Compounded Profit Growth
10 Years: %
5 Years: 12%
3 Years: 10%
TTM: 33%
Stock Price CAGR
10 Years: 14%
5 Years: 15%
3 Years: 27%
1 Year: 54%
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
Equity Capital 845 845 845 845 845 845
Reserves 31,468 33,436 12,087 14,350 12,481 21,784
7,201 2,844 11,881 8,722 10,967 8,728
6,213 7,545 10,654 9,978 10,197 11,013
Total Liabilities 45,727 44,670 35,467 33,895 34,490 42,370
16,808 17,396 17,622 18,151 18,608 19,937
CWIP 1,922 2,075 2,237 1,696 2,606 3,409
Investments 12,957 15,052 10,107 10,452 9,972 14,468
14,040 10,147 5,501 3,596 3,304 4,556
Total Assets 45,727 44,670 35,467 33,895 34,490 42,370

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/OP 106% 93% 104% 110% 101% 98%

Ratios

Consolidated Figures in Rs. Crores / 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 45
ROCE % 37% 50% 46% 61% 70%

Insights

In beta
Mar 2012 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Mined Metal Production
kt

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Refined Lead Production
kt
Refined Zinc Production
kt
Saleable Silver Production
MT
Total Reserves & Resources
million tonnes
Zinc Cost of Production (excl. Royalty)
$/MT
Combined Zinc and Lead Grade
%
Domestic Primary Zinc Market Share
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
64.92% 64.92% 64.92% 64.92% 64.92% 63.42% 63.42% 63.42% 61.84% 61.84% 61.84% 60.71%
0.81% 0.75% 0.69% 0.60% 0.74% 1.01% 1.38% 1.43% 1.36% 1.32% 1.54% 2.39%
2.95% 2.98% 2.97% 2.98% 3.01% 3.12% 4.12% 4.14% 4.81% 4.92% 4.68% 4.84%
29.54% 29.54% 29.54% 29.54% 29.54% 29.54% 27.92% 27.92% 27.92% 27.92% 27.92% 27.92%
1.77% 1.81% 1.88% 1.97% 1.78% 2.92% 3.16% 3.10% 4.07% 4.00% 4.01% 4.12%
No. of Shareholders 3,42,5393,75,8334,01,9854,22,0724,45,9296,24,0256,94,4307,12,8848,19,8837,99,7687,93,8828,97,257

* 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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