Read the quarter in context.
A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
ConCallIQ research layer
Signal, with the source still visible.
Use the controls below to narrow the view, then follow the evidence into the next layer of context.
Revenue
₹13,544 Cr
verified against source
Revenue YoY
49%
reported change
EBITDA
₹7,747 Cr
latest reported figure
Source
nse announcements
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Hindustan Zinc delivered a record Q4 FY26 with revenue of ₹13,544 crore (up 49% YoY), EBITDA of ₹7,747 crore (up 61% YoY), and net profit of ₹5,333 crore (up 68% YoY). Record mine metal production of 315 KT and refined metal of 282 KT drove volumes, while the lowest quarterly zinc cost of production since underground transition at $903/ton (down 9% YoY) boosted margins. Silver contributed 45% to profitability. FY27 guidance: mine metal 1,150 KT ±10, refined metal 1,100 KT ±10, silver 680 tons ±10, and zinc cost $975-1,000/ton. Growth capex of $500-600 million for 250 KTPA smelter and other projects. Risk: cost guidance may be challenged if input commodity prices rise or mining grades normalize.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects mine metal production of 1,150 kilotons plus or minus 10 kilotons for FY27.
- Refined metal production guided at 1,100 kilotons plus or minus 10 kilotons for FY27.
- Silver production expected at 680 tons plus or minus 10 tons for FY27.
- Zinc cost of production excluding royalty guided at $975 to $1,000 per ton for FY27.
Risks flagged
- Geopolitical uncertainties could increase costs of diesel, propane, chemicals, and explosives, impacting cost guidance.
- Q4 benefited from higher mining grade of 7.9% vs full-year average 7.5%; normalization could increase costs by ~$7 per 10 bps grade decline.
- Higher zinc prices incentivize zinc maximization over silver, limiting silver output growth despite strong silver prices.
- Company hedges only 10-20% of volumes; analyst noted past hedging at higher levels, but management defends strategy as prudent.
Key quotes
- We achieved the lowest quarterly zinc cost of production excluding royalty since underground transition at $903 per ton, reflecting a decline of 9% year-on-year.
- Our precious metal portfolio achieved a milestone performance contributing 45% to the overall profitability.
- We have guided zinc cost of production excluding royalty at $975 to $1,000 per ton reflecting prevailing global uncertainties.
Research modules