Mine Metal Production (Q4)
315 KT
+11% YoY
Record quarterly mine metal production driven by higher ore output and improved grades.
HINDUSTANZINC
Other
30 Apr 2026
Hindustan Zinc Ltd — Q4 FY26
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).
✓ Verified against BSE filing
2-Minute Summary
✦ AI-Generated from Full Transcript
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.
Key Numbers
Refined Metal Production (Q4)
282 KT
+8% YoY
Second highest quarterly refined metal production, supported by debottlenecking and higher throughput.
Silver Production (Q4)
176 tons
+11% QoQ
Sequential increase in silver output; full year FY26 silver production at 627 tons.
Zinc Cost of Production (Q4)
$903/ton
-9% YoY
Lowest quarterly cost since underground transition, driven by lower power cost and operating leverage.
Management Guidance
FY27 mine metal production guidance: 1,150 KT ±10
Management expects mine metal production of 1,150 kilotons plus or minus 10 kilotons for FY27.
Management guidance growthFY27 refined metal production guidance: 1,100 KT ±10
Refined metal production guided at 1,100 kilotons plus or minus 10 kilotons for FY27.
Management guidance growthFY27 silver production guidance: 680 tons ±10
Silver production expected at 680 tons plus or minus 10 tons for FY27.
Management guidance growthFY27 zinc cost of production guidance: $975-1,000/ton
Zinc cost of production excluding royalty guided at $975 to $1,000 per ton for FY27.
Management guidance marginsKey Risks
Input commodity price volatility
Geopolitical uncertainties could increase costs of diesel, propane, chemicals, and explosives, impacting cost guidance.
medium · management_commentaryMining grade normalization
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.
medium · analyst_questionSilver production constrained by zinc price
Higher zinc prices incentivize zinc maximization over silver, limiting silver output growth despite strong silver prices.
low · management_commentaryHedging strategy may limit upside
Company hedges only 10-20% of volumes; analyst noted past hedging at higher levels, but management defends strategy as prudent.
low · analyst_questionNotable 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.
Frequently Asked Questions
What was Hindustan Zinc's revenue in Q4 FY26?
Hindustan Zinc reported revenue of ₹13,544 Cr in Q4 FY26, representing a +49% change compared to the same quarter last year.
What guidance did Hindustan Zinc management give for FY27?
FY27 mine metal production guidance: 1,150 KT ±10: Management expects mine metal production of 1,150 kilotons plus or minus 10 kilotons for FY27. FY27 refined metal production guidance: 1,100 KT ±10: Refined metal production guided at 1,100 kilotons plus or minus 10 kilotons for FY27. FY27 silver production guidance: 680 tons ±10: Silver production expected at 680 tons plus or minus 10 tons for FY27. FY27 zinc cost of production guidance: $975-1,000/ton: Zinc cost of production excluding royalty guided at $975 to $1,000 per ton for FY27.
What are the key risks for Hindustan Zinc in FY27?
Key risks include Input commodity price volatility — Geopolitical uncertainties could increase costs of diesel, propane, chemicals, and explosives, impacting cost guidance.; Mining grade normalization — 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.; Silver production constrained by zinc price — Higher zinc prices incentivize zinc maximization over silver, limiting silver output growth despite strong silver prices.; Hedging strategy may limit upside — Company hedges only 10-20% of volumes; analyst noted past hedging at higher levels, but management defends strategy as prudent..
Did Hindustan Zinc meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Hindustan Zinc Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary with filing verification status shown on the financial stats.