Hindustan Zinc Limited (HINDZINC) AI Stock Analysis

• Market Cap: ₹2.77T
• Dividend Yield: 4.64%
• Average Volume (3M): 423.94K
• Price to Earnings (P/E): 26.2
• Beta (1Y): 1.22
• Revenue Growth: 8.90%
• EPS Growth: 20.90%
• Country: IN
• Employees: 3,557
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): 6.30
• Shares Outstanding: 4,225,319,000
• 10 Day Avg. Volume: 510,863
• 30 Day Avg. Volume: 423,940
• PEG Ratio: 0.55
• Price to Book (P/B): 14.40
• Price to Sales (P/S): 5.81
• P/FCF Ratio: 18.90
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 76 Outperform
• Price Target: ₹739.00 ▲(17.56% Upside)

Hindustan Zinc Limited's strong financial performance is the primary driver of its overall stock score, reflecting robust revenue and profit growth. The technical analysis indicates positive momentum, though caution is advised due to overbought signals. The valuation is attractive with a reasonable P/E ratio and a high dividend yield, enhancing the stock's appeal.

Positive Factors

Sustained revenue and profit margins

Consistent revenue expansion paired with durable gross and net margins indicate structural cost advantages and operating scale from integrated mining-to-refining operations. This supports long-term cash generation, reinvestment in mines, and resilience through commodity cycles, enhancing strategic flexibility.

Robust free cash flow generation

Sustained free cash flow growth provides the company enduring financial flexibility to fund capital expenditure, sustain dividends, pay down debt, and invest in exploration. Reliable cash conversion also cushions payouts and strategic investments during commodity-driven revenue volatility.

Healthy balance sheet and high ROE

Moderate leverage and strong ROE signal prudent capital structure and efficient capital allocation. This durable financial strength supports long-term funding for mine development, weathering downturns without excessive refinancing risk, and sustaining investor returns over multi-quarter horizons.

Negative Factors

Exposure to commodity price volatility

High sensitivity to zinc, lead and silver prices creates structural revenue and margin volatility. Over multiple quarters, commodity swings can materially alter cash flow, capital planning and investment returns, making long-term forecasting and stable capital allocation more challenging.

Revenue concentration in zinc

Dependence on zinc as the primary revenue driver increases vulnerability to zinc-specific demand, price and regulatory shifts. Limited product diversification means adverse developments in the zinc market can disproportionately affect earnings, cash flow and strategic options over several quarters.

Slight decline in total assets

A shrinking asset base may reflect divestments or lower capitalisation, which can constrain future production capacity and long-term growth if not matched by reserve replacement. Over months, reduced assets could limit scalability and future revenue expansion potential.

Hindustan Zinc Limited Business Overview & Revenue Model

Company Description

Hindustan Zinc Limited explores for, extracts, and processes minerals in India, Asia, and internationally. It operates through two segments, Zinc, Lead, Silver & Others; and Wind Energy. The company produces refined zinc and lead, and silver, as well as sulphuric acid; and manufactures metals and related alloys. It also operates thermal captive power plants with a total power generation capacity of 505.5 megawatts; wind power plants with a capacity of 273.5 megawatts; solar power plants with a capacity of 40.42 megawatts; and waste heat power plants with a capacity of 40.67megawatts. The company was incorporated in 1966 and is headquartered in Udaipur, India. Hindustan Zinc Limited is a subsidiary of Vedanta Limited.

How the Company Makes Money

Hindustan Zinc Limited generates revenue primarily through the mining and production of zinc, lead, and silver. The company's revenue model is centered around the sale of refined zinc and lead metal, as well as silver bullion, to domestic and international markets. Hindustan Zinc operates some of the largest zinc-lead mines in the world, which ensures a steady supply of raw materials for its smelting operations. Key revenue streams include the sale of zinc ingots, lead ingots, and silver bars. Additionally, the company benefits from its strategic partnerships with global metal trading firms and its integration into Vedanta Limited's larger mineral and energy portfolio, which enhances its market reach and distribution capabilities. The company's earnings are also supported by its focus on cost-efficient mining practices and continuous investment in state-of-the-art technology to improve operational efficiency and output.

Hindustan Zinc Limited Financial Statement Overview

Summary

Hindustan Zinc Limited exhibits robust financial health with strong performance across all key financial metrics. The company has demonstrated consistent revenue and profit growth, backed by efficient operations and prudent financial management. While minor challenges exist, such as slight asset reduction, the overall financial position remains solid, indicating a well-managed and profitable enterprise.

Income Statement

Hindustan Zinc Limited has shown strong revenue growth with a significant increase from the previous year, indicating a robust business trajectory. The company has maintained high gross profit and net profit margins, showcasing its ability to generate substantial profits from its operations. The EBIT and EBITDA margins are also strong, underscoring operational efficiency and profitability.

Balance Sheet

The balance sheet reveals a healthy equity position with a moderate debt-to-equity ratio, suggesting balanced leverage. The return on equity is impressive, reflecting efficient use of shareholder funds to generate profits. However, the total assets have slightly decreased, possibly indicating asset divestment or efficiency improvement measures.

Cash Flow

The cash flow statement reflects a positive trend in free cash flow growth, demonstrating effective cash management and operational efficiency. The operating cash flow to net income ratio is strong, highlighting the company's ability to convert net income into cash. The free cash flow to net income ratio further suggests a stable liquidity position.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	329.87B	330.41B	301.43B	328.83B	282.33B	220.71B
Gross Profit	248.22B	253.62B	128.05B	143.12B	129.71B	89.06B
EBITDA	182.12B	182.88B	147.30B	188.78B	172.85B	134.79B
Net Income	102.42B	103.53B	77.59B	105.11B	96.29B	79.80B
Balance Sheet
Total Assets	344.90B	344.90B	338.95B	354.67B	446.70B	457.27B
Cash, Cash Equivalents and Short-Term Investments	93.00B	93.00B	100.20B	99.09B	207.89B	179.58B
Total Debt	115.36B	115.36B	91.21B	121.88B	31.24B	72.01B
Total Liabilities	211.64B	211.64B	187.00B	225.35B	103.89B	134.14B
Stockholders Equity	133.26B	133.26B	151.95B	129.32B	342.81B	323.13B
Cash Flow
Free Cash Flow	0.00	101.54B	94.80B	115.68B	96.93B	80.86B
Operating Cash Flow	0.00	141.60B	133.46B	151.29B	126.91B	105.67B
Investing Cash Flow	0.00	-27.06B	-34.06B	65.62B	8.46B	-24.35B
Financing Cash Flow	0.00	-114.11B	-99.46B	-232.24B	-122.58B	-96.97B

Hindustan Zinc Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 628.60
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HINDZINC, the sentiment is Positive. The current price of 628.6 is above the 20-day moving average (MA) of 623.25, above the 50-day MA of 549.33, and above the 200-day MA of 473.96, indicating a bullish trend. The MACD of 25.02 indicates Positive momentum. The RSI at 60.86 is Neutral, neither overbought nor oversold. The STOCH value of 73.98 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:HINDZINC.

Hindustan Zinc Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VEDL	79 Outperform	₹2.64T	21.96	―	8.78%	8.87%	2.25%
HINDZINC	76 Outperform	₹2.77T	26.17	―	4.64%	8.90%	20.90%
HINDALCO	75 Outperform	₹2.15T	11.94	―	0.58%	13.19%	42.27%
NMDC	75 Outperform	₹736.93B	10.49	―	4.05%	20.05%	15.58%
MOIL	74 Outperform	₹71.05B	23.58	―	2.18%	―	―
PIIND	74 Outperform	₹498.12B	32.93	―	0.49%	-5.90%	-14.80%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%

Hindustan Zinc Limited Corporate Events

Hindustan Zinc Notifies Exchanges of Vedanta Tax Penalty Order

Hindustan Zinc Limited has informed the stock exchanges that its promoter and holding company, Vedanta Limited, has received an order from the Deputy Commissioner of Commercial Taxes in Bengaluru confirming a penalty of INR 31.52 lakh, along with associated tax demand and interest, related to alleged ineligible input tax credit claims and discrepancies in turnover declarations for FY 2021-22. Vedanta has stated that it is evaluating its next course of action in the matter and does not expect the order to have any material financial impact, suggesting limited operational or earnings implications for the wider Vedanta group and, by extension, for Hindustan Zinc’s stakeholders at this stage.

Hindustan Zinc Receives Independent ESG Rating of 62 from ESGRisk.ai

Hindustan Zinc Limited has disclosed that ESG Risk Assessments and Insights Limited has assigned the company an ESG rating of 62 as part of its annual environmental, social and governance assessment. The rating, which was independently prepared based solely on publicly available information without any engagement from Hindustan Zinc, underscores the growing importance of third-party ESG evaluations for listed Indian corporates and provides investors with an additional, externally derived benchmark on the company’s sustainability performance.

Hindustan Zinc Shareholders Approve New Independent and Government Nominee Directors via Postal Ballot

Hindustan Zinc Limited has announced that shareholders have approved two board appointments via a postal ballot conducted through remote e-voting. Based on the scrutinizer’s report, the resolutions to appoint Thomas Mathew T as a non-executive independent director and Ashim Kumar Modi as a government nominee non-executive director were passed with the requisite majority, reinforcing the company’s governance framework and board representation, including direct government participation, with results and supporting documents made available on the company and NSDL websites.

Hindustan Zinc Resolves Regulatory Compliance Lapse with Penalty

Hindustan Zinc Limited has disclosed the receipt of an interim order from the Regional Director, North Western Region, Ministry of Corporate Affairs, regarding a compounding fee for not including Director Identification Numbers (DINs) for its directors between financial years 2014-15 and 2020-21. The company has resolved these compliance issues since 2022, and the imposed penalty of Rs. 63.90 lakh is not expected to impact its financial or operational activities. This action underscores the company’s emphasis on rectifying regulatory lapses and ensuring corporate governance compliance going forward.

Hindustan Zinc Faces GST Penalty, Plans to Appeal

Hindustan Zinc Limited has been issued a penalty by the Central Goods and Services Tax Division-Rudrapur, amounting to Rs. 45,98,335, along with a tax demand and applicable interest. This action pertains to the company’s input tax credit claims for the fiscal years 2018-19 and 2019-20. Despite the penalty, Hindustan Zinc plans to appeal the order, anticipating a favorable outcome and does not foresee any material financial impact on its operations.

Hindustan Zinc Receives ESG Rating of 67 from NSE Sustainability

Hindustan Zinc Limited announced that it has received an ESG Rating Rationale Report for FY 2024-25 from NSE Sustainability Ratings and Analytics Limited. The company was independently assessed and received a consolidated ESG rating of 67, highlighting its environmental, social, and governance performance. This rating was derived from publicly available information and reflects the company’s standing among the top 500 listed companies in India.

Hindustan Zinc Faces GST Penalty, Plans Appeal

Hindustan Zinc Limited has received an order from the Central Goods and Services Tax Division in Udaipur, imposing a penalty of Rs. 19,59,144 due to ineligible Input Tax Credit for the fiscal year 2021-22. The company plans to appeal the decision, believing it will not have a significant financial impact on its operations.

Hindustan Zinc Limited Releases Q2 FY26 Earnings Call Transcript

Hindustan Zinc Limited has released the transcript of its earnings call for the second quarter and half year ending September 30, 2025. The call, which was held on October 17, 2025, detailed the company’s financial performance, providing insights into its operational strategies and market positioning. This release is part of the company’s compliance with regulatory requirements and aims to keep stakeholders informed about its financial health and future outlook.

Hindustan Zinc Reports Record Profit in Q2 2025

Hindustan Zinc Limited has released its unaudited financial results for the second quarter and half-year ending September 30, 2025. The company reported a 19% increase in profit after tax, reaching a record high of INR 2,649 crore. This financial performance reflects strong operational efficiency and cost management, positioning Hindustan Zinc favorably in the industry. The results were published in major newspapers and are available on the company’s website, indicating transparency and commitment to keeping stakeholders informed.