Hindustan Zinc (HZL) reported record third-quarter mined metal and refined metal production for FY’26, alongside the lowest zinc cost of production in five years at $940 per ton. The company also achieved record revenue of INR10,980 crores and EBITDA of INR6,087 crores. Silver prices witnessed a strong rally, reaching an all-time high. The company expects continued strong performance in Q4.
Exceptional Operational Performance
Hindustan Zinc (HZL) achieved its highest-ever third-quarter mined metal production since its underground transition, coupled with record refined metal production. The company delivered mined metal production of 276,000 tons and refined metal production of 270,000 tons. The lowest zinc cost of production, excluding royalty, reached $940 per ton, the best in the last five years.
Financial Highlights
The company reported record revenue of INR10,980 crores and a record EBITDA of INR6,087 crores for the quarter. Profit after taxes surged 48% sequentially to INR3,916 crores. Saleable silver production stood at 158 tons, up 10% sequentially. The company also achieved a 5-year lowest zinc cost of production, excluding royalty.
Sustainability and Growth Projects
HZL flagged off 10 EV bulker trucks at its Debari smelter. The company secured the number one ranking in the S&P Global Corporate Sustainability Assessment 2025 for the third consecutive year. Regarding expansion projects, groundwork has started for the 250,000 tons per annum integrated zinc smelter at Debari and the tailings reprocessing plant at Rampura Agucha. These projects are set for completion in the second quarter of FY ’29 and fourth quarter of FY ’28, respectively.
Market Overview and Outlook
Zinc prices surged to around $3,350 per ton, the highest level since early 2023. Silver prices witnessed a strong rally of around 75% year-on-year, reaching over $93 per troy ounce in January. The company contributed over INR13,000 crores to the national exchequer, with INR4,000 crores contributed to the state of Rajasthan. HZL anticipates continued strong performance and traditionally the best results during Q4.
Source: BSE
