Hindustan Zinc Ltd.

594.93.66%

2026-08-21

hzlindia.comBSE: 500188NSE: HINDZINC
Market Cap₹ 2,34,083 Cr.
Current Price₹ 574
High / Low₹ 733 / 418
Stock P/E13.7
Book Value₹ 66
Price to Book9.38
Dividend Yield1.81 %
ROCE69.8 %
ROE76.9 %
Face Value₹ 2

Add ratio to table

ABOUT

KEY POINTS

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

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

EDIT COLUMNS
S.No.NameCMP Rs.P/EMar Cap Rs.Cr.Div Yld %NP Qtr Rs.Cr.Qtr Profit Var %Sales Qtr Rs.Cr.Qtr Sales Var %ROCE %OPM %
1.HINDZINC554.0013.72234082.671.815469.00144.8113747.0081.1069.8358.56
2.HINDALCO1035.7514.19232756.490.487013.0075.1584825.0032.0610.4516.43
3.VEDL262.255.21102549.9312.967918.0077.6524205.00-35.3418.7235.12
4.HINDCOPPER554.9047.2153660.160.52352.37162.47936.5081.3624.0054.17
5.VOGL36.670.0014112.590.009450.0025070.000.0032.47
6.GRAVITA1793.0033.7713233.860.00106.3714.301475.0641.8421.957.44
7.JAINREC288.8027.619966.080.0069.4122.792724.4675.8625.743.97
8.CMRGREEN213.1021.984668.070.0068.183122.7391.9813.414.33
9.POCL500.1526.763815.050.40358.8042.589348.9055.0815.685.97
10.ARDEE63.400.001998.370.0049.04
11.BHAGYANGR382.6020.391281.570.0020.24167.37705.0845.209.175.43
12.ONIXSOLAR338.850.001249.270.00208.97945.1032.8529.74
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023
7,111
3,935
Operating Profit
OPM %
Other Income
282
Interest
218
Depreciation
801
2,610
Tax %
24.75%
Net Profit
0
5
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Sep 2023
6,619
3,652
Operating Profit
OPM %
Other Income
223
Interest
232
Depreciation
825
2,305
Tax %
24.99%
Net Profit
0
4
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Dec 2023
7,067
3,789
Operating Profit
OPM %
Other Income
296
Interest
243
Depreciation
905
2,669
Tax %
24.02%
Net Profit
0
5
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Mar 2024
7,285
3,900
Operating Profit
OPM %
Other Income
273
Interest
262
Depreciation
937
2,723
Tax %
25.16%
Net Profit
0
5
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Jun 2024
7,893
4,184
Operating Profit
OPM %
Other Income
268
Interest
256
Depreciation
844
3,114
Tax %
24.69%
Net Profit
2,345
6
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Sep 2024
8,004
4,129
Operating Profit
OPM %
Other Income
270
Interest
303
Depreciation
877
3,130
Tax %
25.65%
Net Profit
2,327
6
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Dec 2024
8,315
4,115
Operating Profit
OPM %
Other Income
218
Interest
285
Depreciation
905
3,527
Tax %
24.07%
Net Profit
2,678
6
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Mar 2025
8,829
4,267
Operating Profit
OPM %
Other Income
227
Interest
251
Depreciation
1,014
3,782
Tax %
20.60%
Net Profit
3,003
7
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Jun 2025
7,591
3,912
Operating Profit
OPM %
Other Income
279
Interest
240
Depreciation
913
2,985
Tax %
25.16%
Net Profit
2,234
5
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Sep 2025
8,282
4,104
Operating Profit
OPM %
Other Income
238
Interest
259
Depreciation
882
3,542
Tax %
25.21%
Net Profit
2,649
6
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Dec 2025
10,627
4,926
Operating Profit
OPM %
Other Income
293
Interest
195
Depreciation
947
5,230
Tax %
25.12%
Net Profit
3,916
9
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Mar 2026
12,692
5,838
Operating Profit
OPM %
Other Income
280
Interest
187
Depreciation
1,048
6,751
Tax %
25.45%
Net Profit
5,033
12
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Jun 2026
13,747
6,749
Operating Profit
OPM %
Other Income
316
Interest
132
Depreciation
920
7,314
Tax %
25.23%
Net Profit
5,469
1
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
845
Reserves
0
Promoter Pledge %
0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021
22,629
10,957
Operating Profit
13,491
OPM %
60
Other Income
1,819
Interest
386
Depreciation
2,531
10,574
Tax %
25
Net Profit
7,980
EPS
19
Dividend Payout %
113
Minority Interest
0
Share of Associates
0
Adjusted EPS
19
Minority Interest
0
Share of Associates
0
Adjusted EPS
19
Mar 2022
29,440
13,215
Operating Profit
17,441
OPM %
59
Other Income
1,216
Interest
290
Depreciation
2,917
14,100
Tax %
32
Net Profit
9,629
EPS
23
Dividend Payout %
79
Minority Interest
0
Share of Associates
0
Adjusted EPS
23
Minority Interest
0
Share of Associates
0
Adjusted EPS
23
Mar 2023
34,098
16,592
Operating Profit
18,885
OPM %
55
Other Income
1,379
Interest
333
Depreciation
3,264
15,288
Tax %
31
Net Profit
10,511
EPS
25
Dividend Payout %
303
Minority Interest
0
Share of Associates
0
Adjusted EPS
25
Minority Interest
0
Share of Associates
0
Adjusted EPS
25
Mar 2024
28,932
15,276
Operating Profit
14,730
OPM %
51
Other Income
1,074
Interest
955
Depreciation
3,468
10,307
Tax %
25
Net Profit
7,759
EPS
18
Dividend Payout %
71
Minority Interest
0
Share of Associates
0
Adjusted EPS
18
Minority Interest
0
Share of Associates
0
Adjusted EPS
18
Mar 2025
34,083
16,695
Operating Profit
18,371
OPM %
54
Other Income
983
Interest
1,095
Depreciation
3,640
13,553
Tax %
24
Net Profit
10,353
EPS
25
Dividend Payout %
118
Minority Interest
0
Share of Associates
0
Adjusted EPS
25
Minority Interest
0
Share of Associates
0
Adjusted EPS
25
Mar 2026
40,844
18,780
Operating Profit
23,154
OPM %
57
Other Income
1,090
Interest
881
Depreciation
3,790
18,508
Tax %
25
Net Profit
13,832
EPS
33
Dividend Payout %
31
Minority Interest
0
Share of Associates
0
Adjusted EPS
33
Minority Interest
0
Share of Associates
0
Adjusted EPS
33
TTM
45,348
21,617
Operating Profit
OPM %
Other Income
1,127
Interest
773
Depreciation
3,797
22,837
Tax %
25
Net Profit
17,067
EPS
Dividend Payout %
Minority Interest
0
Share of Associates
0
Adjusted EPS
Minority Interest
0
Share of Associates
0
Adjusted EPS

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:
13%
3 Years:
22%
1 Year:
33%

RETURN ON EQUITY

10 Years:
5 Years:
56%
3 Years:
68%
Last Year:
77%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2011

Mar 7

1:1

Stock Split & Bonus issue & Quarterly Results

Mar 2021
Equity Capital
845
31,468
2,161
Trade Payables
1,545
8,650
Total Liabilities
44,669
16,808
Capital Work in Progress
1,922
12,957
1,425
0
Cash & Bank
9,376
2,181
Total Assets
44,669
Total Debt
7,177
Net Working Capital
16,692
Contingent Liabilities
2,235
Book Value per Share
76.48
Face Value
2.00
Total Debt
7,177
Net Working Capital
16,692
Contingent Liabilities
2,235
Book Value per Share
76.48
Face Value
2.00
Mar 2022
Equity Capital
845
33,436
289
Trade Payables
2,038
8,062
Total Liabilities
44,670
17,396
Capital Work in Progress
2,075
15,052
1,953
0
Cash & Bank
5,763
2,431
Total Assets
44,670
Total Debt
3,103
Net Working Capital
17,888
Contingent Liabilities
2,091
Book Value per Share
81.14
Face Value
2.00
Total Debt
3,103
Net Working Capital
17,888
Contingent Liabilities
2,091
Book Value per Share
81.14
Face Value
2.00
Mar 2023
Equity Capital
845
12,087
8,537
Trade Payables
2,088
11,910
Total Liabilities
35,467
17,564
Capital Work in Progress
2,237
10,107
1,862
0
Cash & Bank
1,412
2,285
Total Assets
35,467
Total Debt
12,148
Net Working Capital
-2,649
Contingent Liabilities
2,178
Book Value per Share
30.61
Face Value
2.00
Total Debt
12,148
Net Working Capital
-2,649
Contingent Liabilities
2,178
Book Value per Share
30.61
Face Value
2.00
Mar 2024
Equity Capital
845
14,350
1,911
Trade Payables
2,106
14,683
Total Liabilities
33,895
18,042
Capital Work in Progress
1,696
10,452
1,926
155
Cash & Bank
175
1,449
Total Assets
33,895
Total Debt
8,855
Net Working Capital
1,784
Contingent Liabilities
2,212
Book Value per Share
35.96
Face Value
2.00
Total Debt
8,855
Net Working Capital
1,784
Contingent Liabilities
2,212
Book Value per Share
35.96
Face Value
2.00
Mar 2025
Equity Capital
845
12,481
2,508
Trade Payables
2,204
16,452
Total Liabilities
34,490
18,543
Capital Work in Progress
2,606
9,972
1,889
117
Cash & Bank
177
1,186
Total Assets
34,490
Total Debt
11,220
Net Working Capital
427
Contingent Liabilities
1,810
Book Value per Share
31.54
Face Value
2.00
Total Debt
11,220
Net Working Capital
427
Contingent Liabilities
1,810
Book Value per Share
31.54
Face Value
2.00
Mar 2026
Equity Capital
845
21,784
105
Trade Payables
3,073
16,563
Total Liabilities
42,370
19,889
Capital Work in Progress
3,409
14,468
2,054
399
Cash & Bank
319
1,832
Total Assets
42,370
Total Debt
8,357
Net Working Capital
5,326
Contingent Liabilities
1,686
Book Value per Share
53.56
Face Value
2.00
Total Debt
8,357
Net Working Capital
5,326
Contingent Liabilities
1,686
Book Value per Share
53.56
Face Value
2.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021
10,567
Cash from Investing
-2,435
Cash from Financing
-9,697
-1,565
Free Cash Flow
10,567
OCF / Net Profit
1.32
Cumulative 5-Year FCF
0
OCF / Net Profit
1.32
Cumulative 5-Year FCF
0
Mar 2022
12,691
Cash from Investing
846
Cash from Financing
-12,258
1,279
Free Cash Flow
9,466
OCF / Net Profit
1.32
Cumulative 5-Year FCF
0
OCF / Net Profit
1.32
Cumulative 5-Year FCF
0
Mar 2023
15,162
Cash from Investing
6,529
Cash from Financing
-23,224
-1,533
Free Cash Flow
12,273
OCF / Net Profit
1.44
Cumulative 5-Year FCF
0
OCF / Net Profit
1.44
Cumulative 5-Year FCF
0
Mar 2024
13,346
Cash from Investing
-3,406
Cash from Financing
-9,946
-6
Free Cash Flow
10,099
OCF / Net Profit
1.72
Cumulative 5-Year FCF
0
OCF / Net Profit
1.72
Cumulative 5-Year FCF
0
Mar 2025
14,160
Cash from Investing
-2,706
Cash from Financing
-11,411
43
Free Cash Flow
9,375
OCF / Net Profit
1.37
Cumulative 5-Year FCF
0
OCF / Net Profit
1.37
Cumulative 5-Year FCF
0
Mar 2026
17,008
Cash from Investing
-8,906
Cash from Financing
-7,901
201
Free Cash Flow
11,506
OCF / Net Profit
1.23
Cumulative 5-Year FCF
52,719
OCF / Net Profit
1.23
Cumulative 5-Year FCF
52,719

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021
EPS (₹)
18.89
Book Value (₹)
76.48
Dividend per Share (₹)
21.30
Cash EPS (₹)
24.88
Operating Margin %
59.62%
Net Margin %
35.26%
ROE %
24.70%
ROCE %
27.75%
17.86%
Debtor Days
7
Inventory Days
23
Payable Days
2360
-2330
Debt to Equity (x)
0.22x
Interest Coverage (x)
28.39x
3.12x
Revenue Growth %
0.00%
Operating Profit Growth %
0.00%
Net Profit Growth %
0.00%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2022
EPS (₹)
22.79
Book Value (₹)
81.14
Dividend per Share (₹)
18.00
Cash EPS (₹)
29.69
Operating Margin %
59.24%
Net Margin %
32.71%
ROE %
28.92%
ROCE %
37.44%
21.56%
Debtor Days
7
Inventory Days
21
Payable Days
-2352
2380
Debt to Equity (x)
0.09x
Interest Coverage (x)
49.62x
3.94x
Revenue Growth %
30.10%
Operating Profit Growth %
29.28%
Net Profit Growth %
20.66%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2023
EPS (₹)
24.88
Book Value (₹)
30.61
Dividend per Share (₹)
75.50
Cash EPS (₹)
32.60
Operating Margin %
55.38%
Net Margin %
30.83%
ROE %
44.53%
ROCE %
50.02%
26.23%
Debtor Days
6
Inventory Days
20
Payable Days
-5266
5292
Debt to Equity (x)
0.94x
Interest Coverage (x)
46.91x
0.85x
Revenue Growth %
15.82%
Operating Profit Growth %
8.28%
Net Profit Growth %
9.16%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2024
EPS (₹)
18.36
Book Value (₹)
35.96
Dividend per Share (₹)
13.00
Cash EPS (₹)
26.57
Operating Margin %
47.20%
Net Margin %
26.82%
ROE %
55.17%
ROCE %
45.85%
22.37%
Debtor Days
3
Inventory Days
24
Payable Days
-4875
4902
Debt to Equity (x)
0.58x
Interest Coverage (x)
11.79x
1.16x
Revenue Growth %
-15.15%
Operating Profit Growth %
-22.00%
Net Profit Growth %
-26.18%
-26.18%
P/E (x)
15.91x
P/B (x)
8.13x
Dividend Yield %
4.45%
8.97x
Mar 2025
EPS (₹)
24.50
Book Value (₹)
31.54
Dividend per Share (₹)
29.00
Cash EPS (₹)
33.12
Operating Margin %
51.02%
Net Margin %
30.38%
ROE %
72.60%
ROCE %
60.28%
30.28%
Debtor Days
1
Inventory Days
20
Payable Days
0
22
Debt to Equity (x)
0.84x
Interest Coverage (x)
13.38x
1.04x
Revenue Growth %
17.80%
Operating Profit Growth %
24.72%
Net Profit Growth %
33.43%
33.43%
P/E (x)
18.85x
P/B (x)
14.65x
Dividend Yield %
6.28%
11.23x
Mar 2026
EPS (₹)
32.74
Book Value (₹)
53.56
Dividend per Share (₹)
10.00
Cash EPS (₹)
41.71
Operating Margin %
54.02%
Net Margin %
33.87%
ROE %
76.94%
ROCE %
69.83%
35.99%
Debtor Days
2
Inventory Days
18
Payable Days
-4939
4959
Debt to Equity (x)
0.37x
Interest Coverage (x)
22.01x
1.47x
Revenue Growth %
19.84%
Operating Profit Growth %
26.04%
Net Profit Growth %
33.60%
33.60%
P/E (x)
15.34x
P/B (x)
9.38x
Dividend Yield %
1.99%
9.51x

Shareholding Pattern

Numbers in percentages

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

Documents

Announcements

  • 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".

  • Change in Director(s)

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

Credit Ratings

  • Credit Rating

    2026-08-11 - Hindustan Zinc Limited has informed the Exchange about Credit Rating

  • Credit Rating

    2026-01-31 - Hindustan Zinc Limited has informed the Exchange about Credit Rating

  • Credit Rating

    2025-09-10 - Hindustan Zinc Limited has informed the Exchange about Credit Rating

Concalls