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HINDUSTANZINC Diversified 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).

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Revenue ₹13,544 Cr +49%
EBITDA ₹7,747 Cr +61%
PAT ₹5,033 Cr +68%
EBITDA Margin 57%
Duration 48 min
Read Time 1 min read

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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.

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Quarter Snapshot

Mine Metal Production (Q4) 315 KT
+11% YoY

Record quarterly mine metal production driven by higher ore output and improved grades.

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.

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Guidance and risk preview

Top 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.

Top risk Input commodity price volatility

Geopolitical uncertainties could increase costs of diesel, propane, chemicals, and explosives, impacting cost guidance.

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