Hindustan Zinc Limited

NSE

HINDZINC

Stock

Yield per half year: +4.61%
Dividend yield: 6.33%
Sector: Materials

Reporting Hindustan Zinc Limited

Capitalization

IFRS

Reporting Annual Quarterly

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Average for 5 years	CAGR 5
Capitalization, bln ₹	757.71	1 191.89	1 233.66	1 004.59	842.86	1 334.25	1 266.02	1 335		1 799.87	1 799.87	1315.60	16.39
Revenue, bln ₹		185.71	217.76	208.34	183.32	220.71	287.9	332.72	280.82	330.41	280.82	290.51	8.40
Net profit, bln ₹		83.16	92.76	79.56	68.05	79.8	96.29	105.11	77.59	103.53	77.59	92.46	5.34
EV, bln ₹				1 196.44	670.97	1 403.05	1 369.76	1 360.41	1 342.76	2 068.24	1 342.76	1508.84	8.07
EBIT, bln ₹		84.25	114.11	96.24	76.45	101.79	143.68	156.14	112.62	146.48	112.62	132.14	7.55
EBITDA, bln ₹		102.36	128.94	115.07	99.24	127.1	172.85	188.78	147.3	182.88	147.3	163.78	7.55
OIBDA ₹					105.92	146.69	210.01	226.1	257.55	216.83	257.55	211.44	8.13
Book value, bln ₹		308.05	359.32	336.05	403.1	323.13	342.81	129.32	151.95	133.26	151.95	216.09	-16.23
FCF, bln ₹		55.69	71.04	53.81	29.84	80.86	96.93	115.68	94.8	101.54	94.8	97.96	4.66
Operating Cash Flow, bln ₹		75.77	98.37	87.81	66.21	105.67	126.91	151.29	133.46	141.6	133.46	131.79	6.03
Operating profit, bln ₹		80.35	107.89	88.37	66.18	91.7	133.45	142.43	187.84	137.48	187.84	138.58	8.44
Operating expenses, bln ₹		22.96	24.41	30.22	28.17	27.11	28.19	81.3	8.48	116.14	8.48	52.24	33.77
CAPEX, bln ₹		20.08	27.33	34	36.37	24.81	29.98	35.61	38.66	40.06	38.66	33.82	10.06

	2014Q4	2015Q4	2016Q4	2017Q4	2018Q4	2019Q4	2020Q2	2020Q3	2020Q4	2021Q1	2021Q3	2021Q4	2022Q1	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	Average for 5 quarters	CAGR 5
Capitalization, bln ₹	547.57	498.58	1 007.78	1 305.43	1 140.48	888.88			953.37			1 386.18			1 275.83				1 301.97							1161.25	7.93
Revenue, bln ₹																82.81	71.11	66.19	70.67	75.49	81.3	82.52	83.15	88.29	77.71	82.59	-0.90
Net profit, bln ₹																25.83	19.64	17.29	20.28	20.38	23.45	23.27	26.78	30.03	22.34	25.17	-0.97
EV, bln ₹													1 370.68	1 180.21		1 360.79	1 410.88	1 439.6	1 421.65	1 335.79		2 353.27		2 065.29		1723.12	7.48
EBIT, bln ₹														31.78	24.41	27.53	20.27	25.37	29.12	29.85	33.7	34.33		38.06		33.01	5.50
EBITDA, bln ₹															32.48	36.81	28.28	33.62	38.17	39.22	42.14	43.1	44.45	47.16		43.21	3.76
OIBDA ₹																			47.01	45.96	49.71	52.29	53.61	87.38		57.79	13.71
Book value, bln ₹															312.76	129.32	129.32	136.55	136.55	151.95	151.95	76.2	76.2	133.26		117.91	-2.59
FCF, bln ₹							7.46	7.46		0.12			0.06	15.96	16.14	0.16	16.02	16.5	18.1							13.38	2.32
Operating Cash Flow, bln ₹											50.12		0.06	15.96	16.14	0.16	16.02	16.5	18.1			72.14		141.6		52.87	54.63
Operating profit, bln ₹																36.81	25.46	25.37	29.12	27.12	31.02	32.46	35.94	70.25	29.46	39.83	-1.03
Operating expenses, bln ₹															19.37	23.16	20.05	20.41	19.77	22.37	22.62	21.24	28.25	2.27		19.35	-36.72
CAPEX, bln ₹							9.09	9.09		24.81	13.68		29.98	20.4		35.61		19.94				19.86		40.06		27.17	14.45

Cash flow Cash flow quarterly Assets

Balance sheet

IFRS

Reporting Annual Quarterly

	2014	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Average for 5 years	CAGR 5
Cash, bln ₹			1.89	1.73	0.02	18.78	3.13	15.92	0.59	0.53	0.96	0.53	4.23	-21.05
Short-Term Investments ₹			237.83	202.22	194.88	203.49	176.45	156.97	112.92	99.67	92.71	99.67	127.74	-12.08
Long-Term Investments ₹	0.0281												0.0281	0.00
Accounts Receivable ₹			85.46	23.39	4.62	4.25	48.36	8.28	3.8	2.04	1.18	2.04	12.73	-52.41
Total Current Assets ₹			346.49	241.43	215.72	248.13	245.68	239.82	148.04	126.25	116.26	126.25	175.21	-13.90
Net assets, bln ₹		126.93	129.36	144.01	169.22	187.06	183.69	192.4	197.67	196.67		196.67	191.50	1.01
Assets, bln ₹			517.95	429.32	424.58	469.75	457.27	446.7	354.67	338.95	344.9	338.95	388.50	-5.48
Short-Term Debt ₹			79.08	-12.85	25.38	6.17	28.81	10.07	106.69	46.97	53.68	46.97	49.24	13.25
Long-Term Debt ₹						0.22	43.12	21.17	15.19	44.24	59.9	44.24	36.72	6.79
Liabilities, bln ₹			209.9	70	88.53	66.65	134.14	103.89	225.35	187	211.64	187	172.40	9.55
Net debt, bln ₹			77.19	-1.73	25.36	-12.39	68.88	15.32	121.29	90.68	114.4	90.68	82.11	10.68
Debt, bln ₹					25.38	6.39	71.93	31.24	121.88	91.21	115.36	91.21	86.32	9.91
Interest Income ₹		27.21	21.75	14.41	16.32	18.01	3.86	2.9	3.33				8.88	-27.23
Interest Expense, bln ₹			1.92	2.68	0.8	0.78	3.51	2.65	3.26	9.55	10.95	9.55	5.98	25.55
Net interest income, bln ₹			1.98	1.77	6.88	8.76	-3.86	-2.9	-3.33	7.58		3.33	1.25	-2.85
Amortization, bln ₹			18.11	14.83	18.83	22.79	25.31	29.17	32.64	34.68	36.4	34.68	31.64	7.54
Cost of production, bln ₹			82.4	85.46	89.75	89.24	102.19	125	109	86.48	76.79	86.48	99.89	-5.55
Inventory ₹			19.36	13.79	15.44	18.35	14.25	19.53	18.62	20.18	18.89	20.18	18.29	5.80

	2019Q3	2020Q1	2020Q3	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	Average for 5 quarters	CAGR 5
Cash, bln ₹									-172.89	0.54	-178.32	0.59	-112.62	5.56	-112.62	1.75		0.71		0.96		-20.7280	-29.62
Short-Term Investments ₹									345.78	180.69	356.64	112.92	225.24	107.47	225.24	98.74		78.4		92.71		120.51	-2.91
Accounts Receivable ₹					4.58	4.58	42.77	42.77		3.73		12.55		2.16		1.56		2.72		1.18		4.03	-37.68
Total Current Assets ₹										213.52	178.32	148.04	112.62	140.88	112.62	126.25	100.2	104.66		116.26		112.00	0.64
Net assets, bln ₹	177.17	187.06	185.08	183.69		185.51		192.4		195.11		197.67		198.67				201.73				197.12	0.95
Assets, bln ₹					464.3	464.3	446.7	446.7		425.47		354.67		353.57		338.95		325.52		344.9		343.52	-0.56
Short-Term Debt ₹					26.43	26.43	10.07	10.07		29.03		106.69		78.32		46.97		101.65		53.68		77.46	-12.84
Long-Term Debt ₹			43.16	43.12		21.11		21.11		0.04		15		43.45		42.46		44.6		59.9		41.08	31.91
Liabilities, bln ₹							103.89	103.89		112.71		225.35		217.02		187	-151.95	249.32	-76.2	211.64		83.96	2.51
Net debt, bln ₹									172.89	28.53	178.32	121.29	112.62	116.21	112.62	85.47		145.54		114.4		114.85	-0.31
Debt, bln ₹			90.94	71.93		47.54		31.18		29.07		121.69		121.77		87.22		146.25		115.36		118.46	-1.06
Interest Income ₹					0.92	0.82	0.5	0.66	0.44	0.51	0.62	1.76	2.18	2.32								1.48	35.39
Interest Expense, bln ₹											0.62	1.76	2.18	2.32	2.43	2.62	2.56	3.03	2.85	2.51		2.71	-0.85
Net interest income, bln ₹						-0.82	-0.5	-0.66	-0.44	-0.51	-0.62	-1.76	-2.18	-2.32	-2.43							-1.8620	31.41
Amortization, bln ₹										7.98	8.07	9.28	8.01	8.25	9.05	9.37	8.44	8.77		9.1		8.95	0.11
Cost of production, bln ₹												26.38	25.6	22.64	24.74	26	27.66	28.82	18.96	15.77	15.29	21.30	-11.18
Inventory ₹					17.33	17.33	19.53	19.53		25.4		18.62		17.88		19.26		17.03		18.89		18.34	0.29

Share

IFRS

Reporting Annual Quarterly

	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Average for 5 years	CAGR 5
EPS	19.75	20.16	18.21	16.11	18.89	22.8	24.88	18.34	24.48	18.34	21.88	5.32
Share price	308.85	278.65	209.65	239.05	316.8	321.7	318.05	444	425.5	425.5	365.21	6.08
Number of shares, mln	4224.04	4224.04	4224.04	4224.04	4224.04	4224.04	4224.04	4230	4230	4230	4226.42	0.03
FCF/share	13.18	16.82	12.74	7.06	19.14	22.95	27.39	22.41	24	22.41	23.18	4.63

	2014Q4	2015Q4	2016Q4	2017Q4	2018Q4	2019Q4	2020Q4	2021Q4	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	Average for 5 quarters	CAGR 5
EPS											5.1	6.11	4.65	4.09	4.8	4.82	5.55	5.51	6.34	7.11			5.87	8.08
Share price									301.26	276.51	302.04	326.64	310.12	318.85	308.23					442.2	514.25	430.2	402.75	6.17
Number of shares, mln	4224.04	4224.04	4224.04	4224.04	4224.04	4224.04	4224.04	4224.04			4224.04				4224.04								4224.04	0.00
FCF/share		2.9	3.3	4.2	3.18	1.77					3.82	0.0379	3.79	3.91	4.28								3.17	2.30

Efficiency

IFRS

Reporting Annual Quarterly

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	Average for 5 years	CAGR 5
ROE, %		27	25.82	23.68	16.88	24.7	28.92	44.53	55.17	72.6	55.17	13.52	45.18	24.06
ROA, %		16.06	21.61	18.74	14.49	17.45	21.3	26.23	22.37	30.28	22.37	8.08	23.53	11.65
ROIC, %					55.62	60.63	111.03	63.71	82.3		82.3	14.72	74.66	8.15
ROS, %		44.78	42.6	38.19	37.12	36.16	33.45	31.59	27.63	27.63	27.63	8.68	31.29	-5.24
ROCE, %		27.35	31.76	28.64	18.97	31.5	37.25	86.68	48.85	74.12	74.12	19.80	55.68	18.67
EBIT margin					46.37	49.6	49.91	46.93	40.1	40.1	40.1	13.51	45.33	-4.16
EBITDA margin		55.12	59.21	55.23	54.13	57.59	60.04	56.74	52.45	52.45	52.45	17.82	55.85	-1.85
Net margin		44.78	42.6	38.19	37.12	36.16	33.45	31.59	27.63	31.33	27.63	8.68	32.03	-2.83
Operational efficiency, %		43.27	49.55	42.42	36.1	41.55	46.35	42.81	66.89	66.89	66.89	16.80	52.90	9.99
FCF yield, %	6.47	4.67	5.76	5.36	3.54	6.06	7.66	8.67		5.64	5.27	1.12	6.31	9.76

	2012Q4	2013Q4	2014Q4	2015Q4	2016Q4	2017Q4	2018Q4	2019Q4	2020Q3	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	Industry average	Average for 5 quarters	CAGR 5
ROE, %																6.89	19.97	15.19	8.69	13.09	15.01	16.58	17.02	22.02	26.88			13.52	19.50	12.36
ROA, %											4.27	4.34	6.05	6.55	6.3		7.28		9.78		12.03		14.3		17.41			8.08	12.16	19.05
ROIC, %									19.48	46.71				28.17			137.38		18.14				65.54		61.36			14.72	62.12	16.85
ROS, %																		27.62	26.12	28.7	27	28.84	28.2	32.21	34.01	28.75	27.63	8.68	30.16	-0.41
ROCE, %													9.24	9.9	10.16		21.29		12.84		13.4		17.83		19.65	74.04	74.12	19.80	39.81	40.79
EBIT margin																			38.33	41.21	39.54	41.45	41.6		43.11	40.06	40.1	13.51	41.26	-0.66
EBITDA margin																		39.77	50.79	54.01	51.95	51.83	52.23	53.46	53.41	52.41	52.45	17.82	52.79	0.08
Net margin																	31.19	27.62	26.12	28.7	27	28.84	28.2	32.21	34.01	28.75		8.68	30.40	-0.06
Operational efficiency, %																		35.8	38.33	41.21	35.93	38.15	39.34	43.22	79.57	37.91	66.89	16.80	53.39	11.20
FCF yield, %	1.65	2.14	1.79	2.46	1.38	1.36	1.18	0.8393								1.27				1.39								1.12	1.21	0.44

Coefficients

IFRS

Reporting Annual Quarterly

	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	Average for 5 years	CAGR 5
P/E	14.33	13.3	12.63	12.39	16.72	14.07	11.79	16.14	18.87	16.14	41.57	15.52	2.45
P/BV	3.87	3.43	2.99	2.09	4.13	3.95	9.58	8.24	14.66	8.24	6.63	8.11	28.84
P/S	6.42	5.67	4.82	4.6	6.05	4.7	3.72	4.46	5.91	4.46	4.62	4.97	-0.47
P/FCF	21.4	17.37	18.67	28.25	16.5	13.06	11.54	14.03	18.99	18.99	-35.72	14.82	2.85
E/P	0.0698	0.0752	0.0792	0.0807	0.0598	0.0761	0.0787	0.0583	0.0431	0.0431	0.03	0.0632	-6.34
EV/EBIT				7.88	11.36	9.53	8.71	11.92	11.92	11.92	19.35	10.69	0.97
EV/EBITDA			9.63	6.76	11.04	7.92	7.21	9.12	11.31	9.12	14.67	9.32	0.48
EV/S				3.65	6.36	4.76	4.09	4.78	4.78	4.78	4.83	4.95	-5.55
EV/FCF				22.45	17.35	14.13	11.76	14.16	14.16	14.16	-18.02	14.31	-3.98
Debt/EBITDA			0.2044	0.0644	0.5659	0.1807	0.6456	0.6192	0.6192	0.6192	2.17	0.5261	1.82
Netdebt/Ebitda	0.7541	-0.0134	0.2204	-0.1248	0.5419	0.0886	0.6425	0.6156	0.6156	0.6156	1.82	0.5008	2.58
Debt/Ratio				0.0136	0.1573	0.0699	0.3436	0.2691	0.2691	0.2691	0.16	0.2218	11.34
Debt/Equity				0.0159	0.2226	0.0911	0.9425	0.6003	1.23	1.23	0.85	0.6173	40.76
Debt/Net Income				0.0939	0.9014	0.3244	1.16	1.18	1.18	1.18	3.13	0.9492	5.53
PEG									1.86	1.86	1.95	1.86	0.00
Beta						0.72	-0.0016	1.84	-0.3636	-0.3636	0.33	0.5487	-184.30
Altman Index	5	-44.7	8.49	-5.62	6.75	13.16	8.6	8.14	10.13	10.13	0.94	9.36	8.46

	2014Q4	2015Q4	2016Q4	2017Q4	2018Q4	2019Q4	2020Q4	2021Q1	2021Q3	2021Q4	2022Q1	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	Industry average	Average for 5 quarters	CAGR 5
P/E													59.18	11.79	13.84	15.69	15.76	16.11	34.23	25.26	19.46	18.85			41.57	22.78	3.19
P/BV										3.82	3.95	3.68	4.08	9.58		9.69	9.53	8.23		28.97		14.64			6.63	14.21	8.60
P/S													16.73	3.73	4.17	4.47	4.5	4.41	9.49	7.12	5.67	5.82			4.62	6.50	5.71
P/FCF	55.97	40.67	72.39	73.5	84.78	119.15							79.05				71.93						14.03	18.99	-35.72	60.63	-30.74
E/P			0.023	0.0171	0.0194	0.0182	0.0231			0.0195			0.0169				0.0156						0.0583	0.0431	0.03	0.0307	17.19
EV/EBIT																56.74	48.82	44.75		68.55		54.26	11.94	11.92	19.35	38.28	-23.25
EV/EBITDA											9.53	6.93		8.71	49.89	9.2	9.22	9.07		14.47		11.68			14.67	10.73	4.89
EV/S															19.84	21.75	20.12	17.69		28.52		23.39	4.78	4.78	4.83	15.83	-23.03
EV/FCF															88.07	87.25	78.54						14.16	14.16	-18.02	56.44	-30.62
Debt/EBITDA									1.61		0.7406	0.7311		3.31		3.62		2.22		3.39		2.45	0.6197	0.6192	2.17	1.86	-22.54
Netdebt/Ebitda													5.49	3.3	3.98	3.46	2.95	2.18		3.38		2.43	0.6161	0.6156	1.82	1.84	-22.35
Debt/Ratio								0.1573	0.1024		0.0698			0.3431		0.3444		0.2573		0.4493		0.3345	0.2691	0.2691	0.16	0.3159	0.90
Debt/Equity								0.2226	0.1309		0.091			0.941		0.8918		0.574		1.92		0.8657	1.23	1.23	0.85	1.16	16.47
Debt/Net Income								2.9	2.36		1.06			4.71		7.04		4.28		6.28		3.84	1.18	1.18	3.13	3.35	-22.72
PEG																							2.74	1.86	1.95	2.30	-17.61
Beta																						2.74	1.4	-0.3636	0.33	1.26	-151.01
Altman Index																						8.22	8.21	10.13	0.94	8.85	7.21

Dividends

IFRS

Reporting Annual Quarterly

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	Average for 5 years	CAGR 5
Div. payout, bln	32.04	189.72	104.69	119.58	159.72	159.72	319.01	54.93	122.53		122.53		163.18	-5.16
Dividend	25.9	29.5	26		37.8	18	49.5	13	29	10	10		23.90	-11.09
Dividend yield, %		10.45	8.9	9.66	18.94	5.7	14.89	20.49	3.55	6.33	6.33	0.91	10.19	2.12
Dividends / profit, %		228.14	112.86	150.3	234.71	200.15	78.99	303.5	70.8	118.35	70.8	28.00	154.36	-9.98
Dividend coverage ratio						1.05	0.3018	1.91	0.6332	0.6332	0.6332	-20.69	0.9056	-9.62

	2018Q1	2018Q4	2019Q1	2019Q2	2020Q2	2020Q3	2020Q4	2021Q1	2021Q4	2022Q1	2022Q3	2022Q4	2023Q1	2023Q3	2023Q4	2024Q3	2025Q1	2025Q2	2025Q3	Industry average	Average for 5 quarters	CAGR 5
Div. payout, bln			29.9	29.9		69.69		159.72		76.06	88.73		319.01	29.58		122.53	122.53				136.48	6.67
Dividend	6	2			16.5		21.3		18		21	15.5	39	7	6						17.70	-22.16
Dividend yield, %	1.93	7.41			9.45		9.44		5.49		7.59	5.13	11.94	2.2	1.95					0.91	5.76	-23.80
Dividends / profit, %			148.58	169.38		359.23		643.77		259.77	331.08		1235.04	171.08		526.56	408.03			28.00	534.36	4.27
Dividend coverage ratio																0.1899	0.2451	1.41	0.6332	-20.69	0.6196	35.13

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IFRS

Reporting Annual Quarterly

	2020	2021	2022	2023	2024	2025	LTM	CAGR 5
CAPEX/Revenue, %	19.84	11.24	10.41	10.7	13.77	12.12	13.77	1.52
Total Debt	54.13	78.76						20.62
Staff, people			3 492	3 492	3 463			-0.28

	2024Q3	2025Q1	CAGR 5
CAPEX/Revenue, %	24.07	45.37	37.29

	CAGR 5