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 ₹ 2,31,062 Cr.
- Current Price ₹ 547
- High / Low ₹ 733 / 454
- Stock P/E 13.5
- Book Value ₹ 53.6
- Dividend Yield 1.95 %
- ROCE 69.5 %
- ROE 76.6 %
- 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 10.2 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
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 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| 22,629 | 29,440 | 34,098 | 28,932 | 34,083 | 40,844 | 46,820 | |
| 10,957 | 13,215 | 16,583 | 15,256 | 16,652 | 18,764 | 20,565 | |
| Operating Profit | 11,672 | 16,225 | 17,515 | 13,676 | 17,431 | 22,080 | 26,255 |
| OPM % | 52% | 55% | 51% | 47% | 51% | 54% | 56% |
| 1,819 | 1,082 | 1,370 | 1,054 | 857 | 1,099 | 1,152 | |
| Interest | 386 | 290 | 333 | 955 | 1,095 | 881 | 773 |
| Depreciation | 2,531 | 2,917 | 3,264 | 3,468 | 3,640 | 3,790 | 3,797 |
| Profit before tax | 10,574 | 14,100 | 15,288 | 10,307 | 13,553 | 18,508 | 22,837 |
| Tax % | 25% | 32% | 31% | 25% | 24% | 25% | |
| 7,980 | 9,629 | 10,511 | 7,759 | 10,353 | 13,832 | 17,067 | |
| EPS in Rs | 18.89 | 22.79 | 24.88 | 18.36 | 24.50 | 32.74 | 40.39 |
| Dividend Payout % | 113% | 79% | 303% | 71% | 118% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 13% |
| 3 Years: | 6% |
| TTM: | 39% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 12% |
| 3 Years: | 10% |
| TTM: | 65% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 8% |
| 5 Years: | 10% |
| 3 Years: | 19% |
| 1 Year: | 9% |
| 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 / 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 |
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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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Climate Action Report For The Financial Year 2025-26.
- Hindustan Zinc released its FY2025-26 Climate Action Report, outlining emissions, targets, governance and decarbonisation progress.
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
- Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011.
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Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011.
- Vedanta disclosed encumbrance on 50.1% HZL shares for ₹2,000 crore debentures.
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Production Release For The Second Quarter And Half Year Ended September 30, 2026
- Hindustan Zinc reported record Q2 and H1 FY27 production: mined metal 271 kt, refined metal 264 kt.
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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Jul 2026Transcript PPT
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Apr 2026Transcript PPT REC
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Jan 2026PPT
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Oct 2024Transcript PPT REC
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Apr 2024Transcript PPT
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Jan 2024Transcript PPT
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Jan 2024PPT
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Oct 2023Transcript PPT
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Oct 2023PPT
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Jul 2023Transcript PPT
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Nov 2022PPT
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Oct 2022Transcript
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Jul 2021Transcript
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Oct 2020Transcript
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Jul 2020Transcript
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May 2020Transcript
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Aug 2019PPT
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Feb 2018PPT
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Feb 2018PPT
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Feb 2018PPT
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Oct 2016Transcript
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Jul 2016Transcript
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Apr 2016Transcript
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.