Hindustan Zinc Ltd.

•

hzlindia.comBSE: 500188NSE: HINDZINC

Market Cap₹ 2,43,400 Cr.

Current Price

High / Low₹ 733 / 446

Stock P/E14.3

Book Value₹ 66

Price to Book9.38

Dividend Yield1.74 %

ROCE69.8 %

ROE76.9 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Zinc, Lead & others: 74.5% • Silver: 25.1% • Wind Energy: 0.3%

AI Sector View

AI GENERATED

Metals & Mining

Hold

The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.

Confidence

61%

View full sector analysis →

PROS

Company has a good return on equity (ROE) track record: 3 Years ROE 68.2%
Company has a healthy return on capital (ROCE) of 58.7%
Company has consistently been profitable over the last 5 years
Latest quarter profit grew 144.8% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.39x)
Company has been maintaining a healthy dividend payout of 30.5%

CONS

Receivables are growing faster than sales - a possible quality concern
Promoter holding has decreased over last 2 years: -4.2pp
Working capital days have increased from 5 to 48 days
Stock is trading at 9.4x its book value
Recurring exceptional / one-off items are inflating headline profit

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Metals & MiningNon - Ferrous MetalsMetal - Non Ferrous

Part ofNIFTY NEXT 50 NIFTY100 QUALTY30 NIFTY DIV OPPS 50 NIFTYLARGEMIDCAP250 NIFTY100 EQL WGT

S.No.	Name
1.	HINDZINC	576.05	14.26	243399.50	1.74	5469.00	144.81	13747.00	81.10	69.83	58.56
2.	HINDALCO	981.90	13.45	220655.17	0.51	7013.00	75.15	84825.00	32.06	10.45	16.43
3.	VEDL	264.35	5.25	103371.11	12.86	7918.00	77.65	24205.00	-35.34	18.72	35.12
4.	HINDCOPPER	514.35	43.76	49738.88	0.56	352.37	162.47	936.50	81.36	39.44	54.17
5.	VOGL	36.76	0.00	14374.59	0.00	9450.00	—	25070.00	—	0.00	32.47
6.	GRAVITA	1667.00	31.39	12303.87	0.38	106.37	14.30	1475.06	41.84	17.18	7.44
7.	JAINREC	284.70	27.22	9824.59	0.00	69.41	22.79	2724.46	75.86	25.74	3.97
8.	CMRGREEN	216.55	22.33	4743.65	0.00	68.18	—	3122.73	91.98	13.41	4.33
9.	POCL	454.50	24.31	3466.84	0.44	358.80	42.58	9348.90	55.08	23.32	5.97
10.	ONIXSOLAR	437.95	26.86	1614.63	0.00	208.97	—	945.10	—	32.85	29.74
11.	ARDEE	50.87	18.93	1603.43	0.00	199.03	—	3388.11	—	49.04	9.90
12.	BHAGYANGR	422.90	22.54	1416.56	0.00	20.24	167.37	705.08	45.20	9.17	5.43

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	7,111	6,619	7,067	7,285	7,893	8,004	8,315	8,829	7,591	8,282	10,627	12,692	13,747
	3,935	3,652	3,789	3,900	4,184	4,129	4,115	4,267	3,912	4,104	4,926	5,838	6,749
Operating Profit	3,176	2,967	3,278	3,385	3,709	3,875	4,200	4,562	3,679	4,178	5,701	6,854	6,998
OPM %	44.66%	44.83%	46.38%	46.47%	46.99%	48.41%	50.51%	51.67%	48.47%	50.45%	53.65%	54.00%	50.91%
	282	223	296	273	268	187	218	227	279	238	318	280	316
Interest	218	232	243	262	256	303	285	251	240	259	195	187	132
Depreciation	801	825	905	937	844	877	905	1,014	913	882	947	1,048	920
Profit before Tax	2,610	2,305	2,669	2,723	3,114	3,130	3,527	3,782	2,985	3,542	5,230	6,751	7,314
Tax %	24.75%	24.99%	24.02%	25.16%	24.69%	25.65%	24.07%	20.60%	25.16%	25.21%	25.12%	25.45%	25.23%
Net Profit	0	0	0	0	2,345	2,327	2,678	3,003	2,234	2,649	3,916	5,033	5,469
	4.65	4.09	4.80	4.82	5.55	5.51	6.34	7.11	5.29	6.27	9.27	11.91	12.94

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	45,348
	10,957	13,215	16,592	15,276	16,695	18,780	21,617
Operating Profit	11,672	16,225	17,506	13,656	17,388	22,064	23,731
OPM %	51.58%	55.11%	51.34%	47.20%	51.02%	54.02%	52.33%
	1,819	1,082	1,379	1,074	900	1,115	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 %	24.53%	31.71%	31.25%	24.72%	23.61%	25.26%	25.27%
Net Profit	7,980	9,629	10,511	7,759	10,353	13,832	17,067
EPS	18.89	22.79	24.88	18.36	24.50	32.74	—
Dividend Payout %	112.77%	78.98%	303.48%	70.79%	118.35%	30.55%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 13%
3 Years:: 6%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 12%
3 Years:: 10%

STOCK PRICE CAGR

10 Years:: 11%
5 Years:: 12%
3 Years:: 22%
1 Year:: 29%

RETURN ON EQUITY

10 Years:: —
5 Years:: 56%
3 Years:: 68%
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
	31,468	33,436	12,087	14,350	12,481	21,784
	7,517	3,430	11,116	7,260	9,981	6,107
Trade Payables	1,545	2,038	2,088	2,106	2,204	3,073
	3,294	4,921	9,331	9,334	8,979	10,561
Total Liabilities	44,669	44,670	35,467	33,895	34,490	42,370
	16,808	17,396	17,564	18,042	18,543	19,889
Capital Work in Progress	1,922	2,075	2,237	1,696	2,606	3,409
	12,957	15,052	10,107	10,452	9,972	14,468
	1,425	1,953	1,862	1,926	1,889	2,054
	0	0	0	155	117	399
Cash & Bank	9,376	5,763	1,412	175	177	319
	2,181	2,431	2,285	1,449	1,186	1,832
Total Assets	44,669	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
	12,322	15,082	18,302	13,346	14,160	17,008
Cash from Investing	-2,435	846	6,529	-3,406	-2,706	-8,906
Cash from Financing	-9,697	-12,258	-23,224	-9,946	-11,411	-7,901
	-1,565	1,279	-1,533	-6	43	201

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
64.92	63.42	63.42	63.42	61.84	61.84	61.84	60.71	60.71
0.74	1.01	1.38	1.42	1.36	1.32	1.53	2.38	2.19
3.01	3.12	4.12	4.14	4.81	4.92	4.68	4.84	4.96
29.54	29.54	27.92	27.92	27.92	27.92	27.92	27.92	27.92
1.78	2.92	3.16	3.10	4.07	4.01	4.01	4.13	4.22

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-09

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-09 - Hindustan Zinc Limited has informed the Exchange about Schedule of meet

2026-09-09

Press Release

2026-09-09 - Hindustan Zinc Limited has informed the Exchange regarding a press release dated September 09, 2026, titled "Hindustan Zinc Limited has signed a six-year transportation agreement with MFL India Limited for the deployment of 30 electric trucks for concentrate transportation, reinforcing the Company's ongoing mine-to-smelter decarbonisation initiative".

2026-09-03

General Updates

2026-09-03 - Hindustan Zinc Limited has informed the Exchange about Intimation under the Securities and Exchange Board of India (Listing Obligations and DisclosureRequirements) Regulations, 2015 (SEBI Listing Regulations)-ESG Rating(s)

2026-09-03

Updates

2026-09-03 - Hindustan Zinc Limited has informed the Exchange regarding 'Issuance of Letter of Intent in favor of the Preferred Bidder'.

2026-08-25

Rescission/termination(s)

2026-08-25 - Hindustan Zinc Limited has informed the Exchange about Rescission/termination(s)

2026-08-18

Press Release

2026-08-18 - Hindustan Zinc Limited has informed the Exchange regarding a press release dated August 18, 2026, titled "Hindustan Zinc increases renewable power consumption to 22%; Targets 70% by FY28".

2026-08-15

Change in Director(s)

2026-08-15 - Hindustan Zinc Limited has informed the Exchange regarding Change in Director(s) of the company.

2026-08-15

Outcome of Board Meeting

2026-08-15 - Hindustan Zinc Limited has informed the Exchange regarding Outcome of Board Meeting held on August 15, 2026.

2026-08-14

General Updates

2026-08-14 - Hindustan Zinc Limited has informed the Exchange about General Updates

News

Recent coverage and analyst commentary for HINDZINC

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Hindustan Zinc Ltd.

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Name

HINDZINC

576.05

14.26

243399.50

1.74

5469.00

144.81

13747.00

81.10

69.83

58.56

HINDALCO

981.90

13.45

220655.17

0.51

7013.00

75.15

84825.00

32.06

10.45

16.43

VEDL

264.35

5.25

103371.11

12.86

7918.00

77.65

24205.00

-35.34

18.72

35.12

HINDCOPPER

514.35

43.76

49738.88

0.56

352.37

162.47

936.50

81.36

39.44

54.17

VOGL

36.76

0.00

14374.59

0.00

9450.00

—

25070.00

—

0.00

32.47

GRAVITA

1667.00

31.39

12303.87

0.38

106.37

14.30

1475.06

41.84

17.18

7.44

JAINREC

284.70

27.22

9824.59

0.00

69.41

22.79

2724.46

75.86

25.74

3.97

CMRGREEN

216.55

22.33

4743.65

0.00

68.18

—

3122.73

91.98

13.41

4.33

POCL

454.50

24.31

3466.84

0.44

358.80

42.58

9348.90

55.08

23.32

5.97

ONIXSOLAR

437.95

26.86

1614.63

0.00

208.97

—

945.10

—

32.85

29.74

ARDEE

50.87

18.93

1603.43

0.00

199.03

—

3388.11

—

49.04

9.90

BHAGYANGR

422.90

22.54

1416.56

0.00

20.24

167.37

705.08

45.20

9.17

5.43

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

7,111

6,619

7,067

7,285

7,893

8,004

8,315

8,829

7,591

8,282

10,627

12,692

13,747

3,935

3,652

3,789

3,900

4,184

4,129

4,115

4,267

3,912

4,104

4,926

5,838

6,749

Operating Profit

3,176

2,967

3,278

3,385

3,709

3,875

4,200

4,562

3,679

4,178

5,701

6,854

6,998

OPM %

44.66%

44.83%

46.38%

46.47%

46.99%

48.41%

50.51%

51.67%

48.47%

50.45%

53.65%

54.00%

50.91%

282

223

296

273

268

187

218

227

279

238

318

280

316

Interest

218

232

243

262

256

303

285

251

240

259

195

187

132

Depreciation

801

825

905

937

844

877

905

1,014

913

882

947

1,048

920

Profit before Tax

2,610

2,305

2,669

2,723

3,114

3,130

3,527

3,782

2,985

3,542

5,230

6,751

7,314

Tax %

24.75%

24.99%

24.02%

25.16%

24.69%

25.65%

24.07%

20.60%

25.16%

25.21%

25.12%

25.45%

25.23%

Net Profit

2,345

2,327

2,678

3,003

2,234

2,649

3,916

5,033

5,469

4.65

4.09

4.80

4.82

5.55

5.51

6.34

7.11

5.29

6.27

9.27

11.91

12.94

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

45,348

10,957

13,215

16,592

15,276

16,695

18,780

21,617

Operating Profit

11,672

16,225

17,506

13,656

17,388

22,064

23,731

OPM %

51.58%

55.11%

51.34%

47.20%

51.02%

54.02%

52.33%

1,819

1,082

1,379

1,074

900

1,115

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 %

24.53%

31.71%

31.25%

24.72%

23.61%

25.26%

25.27%

Net Profit

7,980

9,629

10,511

7,759

10,353

13,832

17,067

EPS

18.89

22.79

24.88

18.36

24.50

32.74

—

Dividend Payout %

112.77%

78.98%

303.48%

70.79%

118.35%

30.55%

—

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

845

31,468

33,436

12,087

14,350

12,481

21,784

7,517

3,430

11,116

7,260

9,981

6,107

Trade Payables

1,545

2,038

2,088

2,106

2,204

3,073

3,294

4,921

9,331

9,334

8,979

10,561

Total Liabilities

44,669

44,670

35,467

33,895

34,490

42,370

16,808

17,396

17,564

18,042

18,543

19,889

Capital Work in Progress

1,922

2,075

2,237

1,696

2,606

3,409

12,957

15,052

10,107

10,452

9,972

14,468

1,425

1,953

1,862

1,926

1,889

2,054

155

117

399

Cash & Bank

9,376

5,763

1,412

175

177

319

2,181

2,431

2,285

1,449

1,186

1,832

Total Assets

44,669

44,670

35,467

33,895

34,490

42,370

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

12,322

15,082

18,302

13,346

14,160

17,008

Cash from Investing

-2,435

846

6,529

-3,406

-2,706

-8,906

Cash from Financing

-9,697

-12,258

-23,224

-9,946

-11,411

-7,901

-1,565

1,279

-1,533

-6

201

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

64.92

63.42

61.84

60.71

0.74

1.01

1.38

1.42

1.36

1.32

1.53

2.38

2.19

3.01

3.12

4.12

4.14

4.81

4.92

4.68

4.84

4.96

29.54

27.92

1.78

2.92

3.16

3.10

4.07

4.01

4.13

4.22

Hindustan Zinc Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Hindustan Zinc Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI