HINDZINC

Hindustan Zinc Limited

Vedanta's zinc arm — the world's largest integrated zinc producer, with lead and silver

Commodities›Metals & Mining›Non - Ferrous Metals›Zinc

hzlindia.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹540.00
Market cap
2,28,227 Cr
Stock P/E
13.4
P/B
10.08
Dividend yield
1.9%
ROE (FY26)
61.1%
ROCE (FY26)
62.8%
Operating margin (FY26)
44.7%
Debt / equity (FY26)
0.36
OCF / EBITDA (FY26)
77.1%
OCF / EBITDA (3Y)
83.8%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Hindustan Zinc mines and smelts zinc, lead and silver in India for industrial buyers; Vedanta Limited is its holding company.

Company snapshot

1stBy market cap

Ranked among 1 companies in Zinc.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 78.6% of revenue

SegmentRevenue shareRevenuePBTAssets
Silver metal
17.8%
4,442 Cr3,868 Cr—
Wind energy
0.5%
114 Cr57 Cr—
Zinc, Lead and others
78.6%
19,656 Cr6,226 Cr—

What we see

Positives
  • ✓Net margin of 33.9% — the business keeps a healthy share of every rupee it earns.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales6,791 Cr7,310 Cr7,549 Cr8,130 Cr8,252 Cr8,614 Cr9,087 Cr7,771 Cr8,549 Cr10,980 Cr13,544 Cr13,747 Cr
Operating expenses (approx.)3,652 Cr3,789 Cr3,900 Cr4,184 Cr4,129 Cr4,115 Cr4,267 Cr3,912 Cr4,104 Cr4,926 Cr5,838 Cr5,697 Cr
EBITDA3,139 Cr3,521 Cr3,649 Cr3,946 Cr4,123 Cr4,499 Cr4,820 Cr3,859 Cr4,445 Cr6,054 Cr7,706 Cr8,050 Cr
OPM %46.2%48.2%48.3%48.5%50.0%52.2%53.0%49.7%52.0%55.1%56.9%58.6%
Other income223 Cr296 Cr273 Cr268 Cr270 Cr218 Cr227 Cr279 Cr238 Cr293 Cr280 Cr316 Cr
Interest232 Cr243 Cr262 Cr256 Cr303 Cr285 Cr251 Cr240 Cr259 Cr195 Cr187 Cr132 Cr
Depreciation825 Cr905 Cr937 Cr844 Cr877 Cr905 Cr1,014 Cr913 Cr882 Cr947 Cr1,048 Cr920 Cr
Profit before tax2,305 Cr2,669 Cr2,723 Cr3,114 Cr3,130 Cr3,527 Cr3,782 Cr2,985 Cr3,542 Cr5,230 Cr6,751 Cr7,314 Cr
Tax %25.0%24.0%25.2%24.7%25.7%24.1%20.6%25.2%25.2%25.1%25.4%25.2%
Net profit1,729 Cr2,028 Cr2,038 Cr2,345 Cr2,327 Cr2,678 Cr3,003 Cr2,234 Cr2,649 Cr3,916 Cr5,033 Cr5,469 Cr
EPS (₹)₹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 (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales29,440 Cr33,272 Cr28,932 Cr34,083 Cr40,844 CrSign in free for the trailing twelve months
Operating expenses (approx.)13,215 Cr16,592 Cr15,276 Cr16,695 Cr18,780 CrSign in free for the trailing twelve months
EBITDA16,225 Cr16,680 Cr13,656 Cr17,388 Cr22,064 CrSign in free for the trailing twelve months
OPM %55.1%50.1%47.2%51.0%54.0%Sign in free for the trailing twelve months
Other income1,216 Cr2,205 Cr1,074 Cr983 Cr1,090 CrSign in free for the trailing twelve months
Interest290 Cr333 Cr955 Cr1,095 Cr881 CrSign in free for the trailing twelve months
Depreciation2,917 Cr3,264 Cr3,468 Cr3,640 Cr3,790 CrSign in free for the trailing twelve months
Profit before tax14,100 Cr15,288 Cr10,307 Cr13,553 Cr18,508 CrSign in free for the trailing twelve months
Tax %31.7%31.2%24.7%23.6%25.3%Sign in free for the trailing twelve months
Net profit9,629 Cr10,511 Cr7,759 Cr10,353 Cr13,832 CrSign in free for the trailing twelve months
EPS (₹)₹22.79₹24.88₹18.36₹24.50₹32.74Sign in free for the trailing twelve months
Dividend payout %79.0%303.5%70.8%118.4%30.5%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital845 Cr845 Cr845 Cr845 Cr845 Cr
Reserves33,436 Cr12,087 Cr14,350 Cr12,481 Cr21,784 Cr
Borrowings2,843 Cr11,881 Cr8,456 Cr10,651 Cr8,252 Cr
Other liabilities7,546 Cr10,654 Cr10,244 Cr10,513 Cr11,489 Cr
Total liabilities44,670 Cr35,467 Cr33,895 Cr34,490 Cr42,370 Cr
Fixed assets (net)17,165 Cr17,530 Cr17,971 Cr18,485 Cr19,846 Cr
CWIP2,075 Cr2,237 Cr1,696 Cr2,606 Cr3,409 Cr
Investments15,052 Cr10,107 Cr10,452 Cr9,972 Cr14,468 Cr
Loans & advances2 Cr3 Cr1 Cr1 Cr1 Cr
Inventories1,953 Cr1,862 Cr1,926 Cr1,889 Cr2,054 Cr
Trade receivables716 Cr380 Cr155 Cr117 Cr399 Cr
Cash & bank1,592 Cr59 Cr53 Cr96 Cr297 Cr
Other assets6,115 Cr3,289 Cr1,641 Cr1,324 Cr1,896 Cr
Total assets44,670 Cr35,467 Cr33,895 Cr34,490 Cr42,370 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity12,691 Cr15,129 Cr13,346 Cr14,160 Cr17,008 Cr
Cash from investing846 Cr6,562 Cr-3,406 Cr-2,706 Cr-8,906 Cr
Cash from financing-12,258 Cr-23,224 Cr-9,946 Cr-11,411 Cr-7,901 Cr
Net cash flow1,279 Cr-1,533 Cr-6 Cr43 Cr201 Cr
Free cash flow (OCF − Capex)9,693 Cr11,568 Cr9,480 Cr10,154 Cr11,733 Cr

Ratios

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %38.8%63.0%47.6%61.1%62.8%
ROE %28.1%81.3%51.1%77.7%61.1%
Debtor days94214
Inventory days2420242018
Days payable2926322427
Cash conversion cycle4-2-5-2-6
OCF / EBITDA %78.2%90.7%97.7%81.4%77.1%
OCF / EBITDA % (3 years)——88.4%89.3%83.8%
Debt / equity0.080.920.560.800.36
Current ratio3.940.851.161.041.47
Net debt / EBITDA0.080.710.620.610.36