Hindustan Zinc Ltd.
HINDZINCCommodities filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
18 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 18 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20220427 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220725 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221025 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230123 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230424 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230724 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231023 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240122 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240422 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240805 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241023 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250130 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250428 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250721 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251018 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260122 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260428 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260728 | 2026-06-30 | yes |
HINDZINC
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 587.15 |
| 52-week range | 449.1 – 727.2 |
| Return 1M | -0.92% |
| Return 3M | 13.34% |
| Return 1Y | 29.64% |
| Return 3Y | 87.41% |
| Return 5Y | 82.01% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 13,747.00 |
| Other income | 316.00 |
| Total income | 14,063.00 |
| Cost of materials consumed | 0.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | -56.00 |
| Employee benefit expense | 204.00 |
| Finance costs | 132.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.61 | 0.00 |
| institutions foreign | 0.02 | -0.00 |
| institutions domestic | 0.05 | 0.00 |
| mutual funds | 0.01 | 0.00 |
| public | 0.39 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| TRANSCRIPT | 2026-06-30 | 18 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 8,127.00 | 7,628.00 | 8,281.00 | 7,282.00 | 6,791.00 | 7,310.00 | 7,549.00 | 8,130.00 | 8,252.00 | 8,614.00 | 9,087.00 | 7,771.00 | 8,549.00 | 10,980.00 | 13,544.00 | 13,747.00 |
| Other income | 576.00 | 586.00 | 582.00 | 282.00 | 223.00 | 296.00 | 273.00 | 268.00 | 270.00 | 218.00 | 227.00 | 279.00 | 238.00 | 293.00 | 280.00 | 316.00 |
| Total income | 8,703.00 | 8,214.00 | 8,863.00 | 7,564.00 | 7,014.00 | 7,606.00 | 7,822.00 | 8,398.00 | 8,522.00 | 8,832.00 | 9,314.00 | 8,050.00 | 8,787.00 | 11,273.00 | 13,824.00 | 14,063.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | -28.00 | 52.00 | -253.00 | 142.00 | -44.00 | -48.00 | -207.00 | 66.00 | 173.00 | -46.00 | -257.00 | -12.00 | -40.00 | 111.00 | -254.00 | -56.00 |
| Employee benefit expense | 229.00 | 189.00 | 218.00 | 191.00 | 213.00 | 197.00 | 227.00 | 229.00 | 187.00 | 243.00 | 227.00 | 192.00 | 188.00 | 206.00 | 185.00 | 204.00 |
| Finance costs | 51.00 | 62.00 | 176.00 | 218.00 | 232.00 | 243.00 | 262.00 | 256.00 | 303.00 | 285.00 | 251.00 | 240.00 | 259.00 | 195.00 | 187.00 | 132.00 |
| Depreciation and amortisation | 798.00 | 807.00 | 928.00 | 801.00 | 825.00 | 905.00 | 937.00 | 844.00 | 877.00 | 905.00 | 1,014.00 | 913.00 | 882.00 | 947.00 | 1,048.00 | 920.00 |
| Other expenses | 3,728.00 | 3,918.00 | 4,289.00 | 3,602.00 | 3,483.00 | 3,640.00 | 3,880.00 | 3,889.00 | 3,769.00 | 3,918.00 | 4,297.00 | 3,732.00 | 3,956.00 | 4,609.00 | 5,907.00 | 5,549.00 |
| Total expenses | 4,778.00 | 5,028.00 | 5,358.00 | 4,954.00 | 4,709.00 | 4,937.00 | 5,099.00 | 5,284.00 | 5,309.00 | 5,305.00 | 5,532.00 | 5,065.00 | 5,245.00 | 6,068.00 | 7,073.00 | 6,749.00 |
| Profit before exceptional items and tax | 3,925.00 | 3,186.00 | 3,505.00 | 2,610.00 | 2,305.00 | 2,669.00 | 2,723.00 | 3,114.00 | 3,213.00 | 3,527.00 | 3,782.00 | 2,985.00 | 3,542.00 | 5,205.00 | 6,751.00 | 7,314.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -83.00 | 0.00 | 0.00 | 0.00 | 0.00 | 25.00 | 0.00 | 0.00 |
| Profit before tax | 3,925.00 | 3,186.00 | 3,505.00 | 2,610.00 | 2,305.00 | 2,669.00 | 2,723.00 | 3,114.00 | 3,130.00 | 3,527.00 | 3,782.00 | 2,985.00 | 3,542.00 | 5,230.00 | 6,751.00 | 7,314.00 |
| Current tax | 1,009.00 | 530.00 | 790.00 | 661.00 | 592.00 | 607.00 | 689.00 | 829.00 | 827.00 | 768.00 | 802.00 | 751.00 | 896.00 | 1,233.00 | 1,719.00 | 1,877.00 |
| Deferred tax | 236.00 | 500.00 | 132.00 | -15.00 | -16.00 | 34.00 | -4.00 | -60.00 | -24.00 | 81.00 | -23.00 | 0.00 | -3.00 | 81.00 | -1.00 | -32.00 |
| Tax expense | 1,245.00 | 1,030.00 | 922.00 | 646.00 | 576.00 | 641.00 | 685.00 | 769.00 | 803.00 | 849.00 | 779.00 | 751.00 | 893.00 | 1,314.00 | 1,718.00 | 1,845.00 |
| Profit for the period | 2,680.00 | 2,156.00 | 2,583.00 | 1,964.00 | 1,729.00 | 2,028.00 | 2,038.00 | 2,345.00 | 2,327.00 | 2,678.00 | 3,003.00 | 2,234.00 | 2,649.00 | 3,916.00 | 5,033.00 | 5,469.00 |
| Profit attributable to owners | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | -335.00 | -22.00 | -30.00 | 29.00 | -41.00 | -6.00 | 15.00 | -18.00 | 24.00 | 67.00 | -42.00 | 11.00 | -297.00 | -425.00 | 482.00 | 137.00 |
| Total comprehensive income | 2,345.00 | 2,134.00 | 2,553.00 | 1,993.00 | 1,688.00 | 2,022.00 | 2,053.00 | 2,327.00 | 2,351.00 | 2,745.00 | 2,961.00 | 2,245.00 | 2,352.00 | 3,491.00 | 5,515.00 | 5,606.00 |
| Earnings per share, basic | 6.34 | 5.10 | 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 | 12.94 |
| Earnings per share, diluted | 6.34 | 5.10 | 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 | 12.94 |
Annual results, as filed
| Line | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|
| Revenue from operations | 29,440.00 | 33,272.00 | 28,932.00 | 34,083.00 | 40,844.00 |
| Other income | 1,216.00 | 2,205.00 | 1,074.00 | 983.00 | 1,090.00 |
| Total income | 30,656.00 | 35,477.00 | 30,006.00 | 35,066.00 | 41,934.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | -278.00 | -143.00 | -157.00 | -64.00 | -195.00 |
| Employee benefit expense | 718.00 | 845.00 | 828.00 | 886.00 | 771.00 |
| Finance costs | 290.00 | 333.00 | 955.00 | 1,095.00 | 881.00 |
| Depreciation and amortisation | 2,917.00 | 3,264.00 | 3,468.00 | 3,640.00 | 3,790.00 |
| Other expenses | 12,775.00 | 15,890.00 | 14,605.00 | 15,873.00 | 18,204.00 |
| Total expenses | 16,422.00 | 20,189.00 | 19,699.00 | 21,430.00 | 23,451.00 |
| Profit before exceptional items and tax | 14,234.00 | 15,288.00 | 10,307.00 | 13,636.00 | 18,483.00 |
| Exceptional items | -134.00 | 0.00 | 0.00 | -83.00 | 25.00 |
| Profit before tax | 14,100.00 | 15,288.00 | 10,307.00 | 13,553.00 | 18,508.00 |
| Current tax | 2,445.00 | 3,431.00 | 2,549.00 | 3,226.00 | 4,599.00 |
| Deferred tax | 2,026.00 | 1,346.00 | -1.00 | -26.00 | 77.00 |
| Tax expense | 4,471.00 | 4,777.00 | 2,548.00 | 3,200.00 | 4,676.00 |
| Profit for the period | 9,629.00 | 10,511.00 | 7,759.00 | 10,353.00 | 13,832.00 |
| Profit attributable to owners | — | — | 0.00 | 0.00 | 0.00 |
| Profit attributable to non-controlling interests | — | — | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | -55.00 | 41.00 | -3.00 | 31.00 | -229.00 |
| Total comprehensive income | 9,574.00 | 10,552.00 | 7,756.00 | 10,384.00 | 13,603.00 |
| Earnings per share, basic | 22.79 | 24.88 | 18.36 | 24.50 | 32.74 |
| Earnings per share, diluted | 22.79 | 24.88 | 18.36 | 24.50 | 32.74 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 42,547.00 | 35,467.00 | 35,357.00 | 33,895.00 | 32,552.00 | 34,490.00 | 35,595.00 | 42,370.00 |
| Non-current assets | 21,195.00 | 20,663.00 | 21,269.00 | 21,270.00 | 22,086.00 | 22,864.00 | 24,277.00 | 25,770.00 |
| Current assets | 21,352.00 | 14,804.00 | 14,088.00 | 12,625.00 | 10,466.00 | 11,626.00 | 11,318.00 | 16,600.00 |
| Property, plant and equipment | 17,034.00 | 17,530.00 | 18,408.00 | 17,971.00 | 17,553.00 | 18,485.00 | 19,089.00 | 19,846.00 |
| Capital work-in-progress | 2,477.00 | 2,237.00 | 1,459.00 | 1,696.00 | 2,620.00 | 2,606.00 | 2,996.00 | 3,409.00 |
| Goodwill | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other intangible assets | 290.00 | 92.00 | 143.00 | 180.00 | 64.00 | 58.00 | 50.00 | 43.00 |
| Inventories | 2,540.00 | 1,862.00 | 1,788.00 | 1,926.00 | 1,703.00 | 1,889.00 | 2,255.00 | 2,054.00 |
| Trade receivables | 371.00 | 380.00 | 216.00 | 155.00 | 270.00 | 117.00 | 175.00 | 399.00 |
| Cash and cash equivalents | 54.00 | 59.00 | 556.00 | 53.00 | 71.00 | 96.00 | 91.00 | 297.00 |
| Total equity and liabilities | 42,547.00 | 35,467.00 | 35,357.00 | 33,895.00 | 32,552.00 | 34,490.00 | 35,595.00 | 42,370.00 |
| Equity | 31,276.00 | 12,932.00 | 13,655.00 | 15,195.00 | 7,620.00 | 13,326.00 | 13,697.00 | 22,629.00 |
| Equity share capital | 845.00 | 845.00 | 845.00 | 845.00 | 845.00 | 845.00 | 845.00 | 845.00 |
| Other equity | 30,431.00 | 12,087.00 | 12,810.00 | 14,350.00 | 6,775.00 | 12,481.00 | 12,852.00 | 21,784.00 |
| Total liabilities | 11,271.00 | 22,535.00 | 21,702.00 | 18,700.00 | 24,932.00 | 21,164.00 | 21,898.00 | 19,741.00 |
| Non-current liabilities | 2,954.00 | 5,082.00 | 7,834.00 | 7,859.00 | 7,831.00 | 9,965.00 | 8,742.00 | 8,467.00 |
| Current liabilities | 8,317.00 | 17,453.00 | 13,868.00 | 10,841.00 | 17,101.00 | 11,199.00 | 13,156.00 | 11,274.00 |
| Borrowings, non-current | 4.00 | 1,519.00 | 4,197.00 | 4,246.00 | 4,248.00 | 5,990.00 | 4,773.00 | 4,614.00 |
| Borrowings, current | 2,123.00 | 10,362.00 | 7,127.00 | 4,210.00 | 9,421.00 | 4,661.00 | 5,928.00 | 3,638.00 |
| Trade payables | 2,342.00 | 2,395.00 | 1,819.00 | 2,505.00 | 3,011.00 | 2,204.00 | 2,244.00 | 3,073.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 8,464.00 | 15,129.00 | 7,046.00 | 13,346.00 | 7,214.00 | 14,160.00 | 5,580.00 | 17,008.00 |
| Net cash from investing activities | -244.00 | 6,562.00 | -2,563.00 | -3,406.00 | 481.00 | -2,706.00 | -775.00 | -8,906.00 |
| Net cash from financing activities | -9,758.00 | -23,224.00 | -3,986.00 | -9,946.00 | -7,677.00 | -11,411.00 | -4,810.00 | -7,901.00 |
| Purchase of property, plant and equipment | 2,040.00 | 3,561.00 | 1,994.00 | 3,866.00 | 1,986.00 | 4,006.00 | 2,497.00 | 5,275.00 |
| Net increase in cash | -1,538.00 | -1,533.00 | 497.00 | -6.00 | 18.00 | 43.00 | -5.00 | 201.00 |
| con:CFO.BEFORE_TAX | 9,727.00 | 18,269.00 | 7,134.00 | 15,103.00 | 8,573.00 | 17,545.00 | 6,952.00 | 21,560.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 1,263.00 | 3,140.00 | 88.00 | 1,757.00 | 1,359.00 | 3,385.00 | 1,372.00 | 4,552.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 43,292.00 | 0.00 | 23,548.00 | 16,181.00 | 24,132.00 | 8,964.00 | 22,941.00 |
| con:INVESTMENTS_SOLD | 0.00 | 47,958.00 | 0.00 | 23,507.00 | 18,396.00 | 24,724.00 | 10,286.00 | 18,525.00 |
| con:PPE_DISPOSALS | 12.00 | 19.00 | 6.00 | 51.00 | 6.00 | 7.00 | 7.00 | 13.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 64.92 | 64.92 | 64.92 | 64.92 | 64.92 | 64.92 | 63.42 | 63.42 | 63.42 | 61.84 | 0.62 | 0.62 | 0.61 | 0.61 |
| Domestic institutions | 2.95 | 2.95 | 2.98 | 2.96 | 2.98 | 3.02 | 3.12 | 4.12 | 4.14 | 4.82 | 0.05 | 0.05 | 0.05 | 0.05 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 0.75 | 0.01 | 0.01 | 0.01 | 0.01 |
| Insurance companies | 2.88 | 2.91 | 2.94 | 2.93 | 2.94 | 2.95 | 3.02 | 4.00 | 3.96 | 4.03 | 0.04 | 0.04 | 0.03 | 0.03 |
| Foreign institutions | 0.80 | 0.81 | 0.75 | 0.69 | 0.60 | 0.75 | 1.01 | 1.39 | 1.42 | 1.36 | 0.01 | 0.02 | 0.02 | 0.02 |
| Government | — | — | — | — | — | — | — | — | — | 27.92 | 0.28 | 0.28 | 0.28 | 0.28 |
| Public | 35.08 | 35.08 | 35.08 | 35.08 | 35.08 | 35.08 | 36.58 | 36.58 | 36.58 | 38.16 | 0.38 | 0.38 | 0.39 | 0.39 |
| Non-institutional | 1.79 | 1.77 | 1.81 | 1.89 | 1.97 | 1.78 | 2.92 | 3.16 | 3.10 | 4.07 | 0.04 | 0.04 | 0.04 | 0.04 |
| Shares outstanding | 4225319000 | 4225319000 | 4225319000 | 4225319000 | 4225319000 | 4225319000 | 4225319000 | 4225319000 | 4225319000 | 4225319000 | 4225319000 | 4225319000 | 4225319000 | 4225319000 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Hindustan Zinc Fertilisers Private Limited | Wholly owned subsidiary | Any other transaction, Interest received, Loan | 5,487,100,000.00 | 6 |
| Vedanta Limited | Parent Company | Any other transaction, Purchase of fixed assets, Pur | 3,492,600,000.00 | 12 |
| Runaya Green Tech Private Limited | Other related party | Advance, Any other transaction, Interest received, P | 3,002,700,000.00 | 9 |
| Serentica Renewables India 5 Private Limited | Associate of Ultimate Parent | Investment | 2,300,000,000.00 | 1 |
| Minova Runaya Private Limited | Other related party | Any other transaction, Purchase of goods or services | 1,146,100,000.00 | 4 |
| Hindustan Zinc Alloys Private Limited | Wholly owned subsidiary | Any other transaction, Interest received, Loan, Sale | 636,100,000.00 | 7 |
| Serentica Renewables India 4 Private Limited | Associate of Ultimate Parent | Any other transaction, Investment, Purchase of goods | 468,900,000.00 | 3 |
| Malco Energy Limited | Fellow Subsidiary | Any other transaction, Purchase of goods or services | 433,600,000.00 | 3 |
| Fujairah Gold FZC | Fellow Subsidiary | Any other transaction, Sale of goods or services | 315,600,000.00 | 2 |
| Bharat Aluminium Company Limited | Fellow Subsidiary | Any other transaction, Purchase of goods or services | 284,100,000.00 | 4 |
| Anil Agarwal Foundation | Other related party | Any other transaction | 220,000,000.00 | 1 |
| Hindmetal Exploration Services Private Limited | Wholly owned subsidiary | Any other transaction, Interest received, Loan, Purc | 212,900,000.00 | 6 |
| Employee's Contributory Provident Fund Trust | Other related party | Any other transaction | 179,700,000.00 | 2 |
| STL Digital Limited (Erstwhile Sterlite Tech Connectivity So | Fellow Subsidiary of holding compa | Any other transaction, Purchase of goods or services | 92,600,000.00 | 4 |
| Zinc India Foundation | Wholly owned subsidiary | Any other transaction | 90,600,000.00 | 4 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-07-28 | Q1FY27 | HINDUSTAN ZINC LIMITED | Read the call |
| 2026-04-28 | Q4FY26 | HINDUSTAN ZINC LIMITED | Read the call |
| 2026-01-22 | Q3FY26 | HINDUSTAN ZINC LIMITED | Read the call |
| 2025-10-18 | Q2FY26 | HINDUSTAN ZINC LIMITED | Read the call |
| 2025-07-21 | Q1FY26 | HINDUSTAN ZINC LIMITED | Read the call |
| 2025-04-28 | Q4FY25 | HINDUSTAN ZINC LIMITED | Read the call |
| 2025-01-30 | Q3FY25 | HINDUSTAN ZINC LIMITED, LIMITED | Read the call |
| 2024-10-23 | Q2FY25 | HINDUSTAN ZINC LIMITED | Read the call |
| 2024-08-05 | Q1FY25 | Read the call | |
| 2024-04-22 | Q4FY24 | Read the call | |
| 2024-01-22 | Q3FY24 | HINDUSTAN ZINC LIMITED | Read the call |
| 2023-10-23 | Q2FY24 | INVESTOR RELATIONS | Read the call |
| 2023-07-24 | Q1FY24 | HINDUSTAN ZINC LIMITED | Read the call |
| 2023-04-24 | Q4FY23 | HINDUSTAN ZINC LIMITED | Read the call |
| 2023-01-23 | Q3FY23 | HINDUSTAN ZINC LIMITED | Read the call |
| 2022-10-25 | Q2FY23 | HINDUSTAN ZINC LIMITED | Read the call |
| 2022-07-25 | Q1FY23 | HINDUSTAN ZINC LIMITED, OFFICER, HINDUSTAN ZINC LIMITED | Read the call |
| 2022-04-27 | Q4FY22 | HINDUSTAN ZINC LIMITED., ZINC LIMITED. | Read the call |
What they said about it, quarter by quarter
| Topic | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY22 | Q4FY23 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | And given the healthy cash flow generation, so during this year, we have generated a free cash flow of INR6,900 crores, which is also the post growth … | 1024 crores in growth as well as in sustaining CAPEX during the quarter. | Our free cash flow before growth capex and renewable energy investment for the quarter stood at INR3,413 crores, taking the 9-month free cash flow gen… | While we have launched the work through sustenance CAPEX of the seeding work for expanding these mines. | Project capex for this year is expected to be in the range of $175 million to $200 million. | On the back of strong liquidity with the healthy cash flow of Rs.9,000 crores in FY’24 which is after the post-growth capex and RE investment of Rs.1,… | I believe you all appreciate the way the company has increased its production sustainably every year despite its transitioning to underground mining a… | The country's GDP growth for FY 2027 is expected to remain resilient at around 6.4% to 6.9% supported by continued government capex, infrastructure pu… |
| Capital allocation | January 19, 2024 During the quarter, Hindustan Zinc has also paid an interim dividend of INR2,535 crores, contributing to the cumulative dividend payo… | On the dividend side, I mean, there has been a bit of a slowdown vis-à-vis what Vedanta has been announcing. | — | 10,000 crores of movement, should one assume the more flexibility of funds, which could eventually translate to dividend payout or how should one read… | I am also happy to state on record that in March '23, the Board had approved an interim dividend of INR26 per equity share, which is a 1,300% basis fa… | This year, we have issued a total dividend payout of Rs.5,493 crores, with the total contribution of Rs.13,197 crores to the exchequer in the form of … | With a strong commitment towards delivering value accretive returns for all our stakeholders, company has distributed INR12,053 crores in dividend to … | My second question is on the dividend payouts. |
| Costs | — | And since you said this is something which does not entail any input cost, since these are basically tailings that you're utilizing, so could you give… | And sir, in terms of cost saving from, say, 25% this year to 75% in FY '28, so incrementally, 50%. | And as you can see our cost pressure also, over the years our domestic coal supply has not been up to that percentage that we require. | — | — | So assuming this continues, can our cost savings offset the negative impact of lower LME prices? | At the same time, secondly, the current geopolitical environment where you see the input cost commodity coming impact of the diesel, propane gas, chem… |
| Debt and cash | So if you see at the net debt level, we are around INR360 crores. | — | We achieved net cash position of INR329 crores at the end of December '25 in comparison to net debt position at the September end of INR2,547 crores. | If you see our net debt levels, we are already debt free. | The borrowing is smaller and compared to the borrowing, our quarter 1 cash flow should be basically recouping whatever negative we are having. | Given zinc prices have jumped up significantly, with this our cash flow would also be increasing. | We have successfully generated a strong free cash flow from operations at INR13,784 crores during the year. | Our strong cash generation enabled us to close the year with a net cash position of INR5,594 crores as of March '26, compared to a net debt position o… |
| Demand | While the global production has been stressed, however, the impact of the same has been insufficient to overcome the faint demand, particularly in Eur… | The global shift towards clean energy, making zinc and silver indispensable and the demand for both zinc and silver is expected to rise significantly. | The inclusion of silver in the U.S. critical minerals list and its relative undervaluation versus gold and strong festive demand from India attracted … | So, that is another debottleneck we have to perform to find the solution how to cater to those markets, while paying lesser freight cost and get maxim… | Zinc supply and demand forces remained underperforming. | Total zinc stocks rose to 386,000 tons at the end of March ‘24 as compared to 243,000 tons at the end of December ‘23 on account of subdued demand. | The government's sustained focus on infrastructure development, ranging from smart cities to railways and highways is driving robust steel demand whic… | This performance reflects tight market conditions and steady demand from infrastructure, galvanization, and battery segments. |
| Guidance | Silver market has been in deficit in 2023 for third consecutive year in a row, considering the current macroeconomic environment and the supply and de… | This deficit is also expected in the refined silver market with growing industrial use cases benefiting especially from renewable energy initiatives a… | Despite such strong rally, the outlook for silver remains bullish. | The first one is essentially on the guidance. | Such resilient efforts, blended with softening input costs, enabled delivery of strong operational performance, successfully achieving the annual guid… | These production figures grew at an industry-leading compounded annual growth rate of over 4% in the last five years and the guidance for FY’25 indica… | Our commitment to innovation, safety and responsible business practices will continue to guide us | On a full year basis, we delivered a five-year low cost of production at $959 per ton, well below our guidance of $1,000 per ton. |
| Margin | As a result, our EBITDA margin increased from 46% in previous quarter to 49% in quarter 3 FY '24. | Through a focused approach to significantly reducing costs alongside operational excellence, we have achieved a strong financial performance, recordin… | During the quarter, we delivered record revenue of INR10,980 crores and the highest ever EBITDA of INR6,087 crores. | — | Supported by a consistent financial performance across the quarters, Hindustan Zinc experienced yet another record-setting annual performance, deliver… | The full year EBITDA stood at Rs.13,677 crores, down 22% y-o-y in line with the revenue, partly offset by significant cost improvement for the quarter… | We have delivered our second ever highest revenue, EBITDA and profit after taxes where our EBITDA stands at INR17,465 crores, up 28% and profit after … | lower power cost, improved by-product realization, and operating leverage benefits from increased volume. |
| People | The cost improvement was mainly on account of better volume, softened coal prices, operational efficiency, partly offset by lower acid realization due… | — | Internal (C3) This year, we had -- this quarter, we had 58% domestic coal utilization; second, our imported coal prices were lower; and third, RE powe… | So, are we actually seeing the utilization levels over there also, zinc smelters declining and probably you know they anyway never used to export too … | — | This has been possible due to our efficient utilization of asset, well-planned mining and smelting, talented team and resilience of our organization. | — | On the refined metal side, output was supported by debottlenecking at Chanderiya and Dariba, improved plant utilization, and enhanced operational effi… |
| Pricing | Sir, finally, if you could just help us with the broad outlook on zinc and lead pricing for CY '24, given that Chinese stimulus efforts really haven't… | — | — | The FY23 15% of projected sales that we have sold through moving forward, so what we have committed, what is the pricing for that, moving forward pric… | — | — | So what's the change, sir, I'm not asking for the absolute number, but is it possible to share how much price increase we have witnessed in sulfuric a… | — |
| Revenue growth | — | However, the growth of Indian demand was at CAGR 5% and so was the production growth of HZL. | The RBI has projected India's GDP growth at 7.4% for financial year FY '26, significantly ahead of global average, supported by strong domestic demand… | — | Further, as per IMF, 2023 will be another challenging year with global growth of less than 3%, majority impacted on account of monetary tightening, CO… | Global steel demand is forecasted to grow in FY’25 with India contributing the most with projected growth of 8.2%. | This optimism is further reinforced by India's strong economic fundamentals with a projected GDP growth of 6.5% by IMF and the manufacturing PMI of 58… | The growth was driven by higher ore production and improved mined metal grades. |
What they said they would do
Sentences in which management set an expectation. Each names the speaker and the page of the transcript it came from.
| Date | Quarter | Who | What they said |
|---|---|---|---|
| 2022-10-25 | Q2FY23 | HINDUSTAN ZINC LIMITED | As far as our ETR guidance is considered I would leave it unchanged at 32% for the full year. |
| 2022-10-25 | Q2FY23 | HINDUSTAN ZINC LIMITED | Project capex guidance for the year remains unchanged and is expected to be in the range of $125 to $150 million. |