Hindustan Zinc LimitedQ1 FY27 Results & Financial Update
Hindustan Zinc Limited: Q1 FY27 consolidated results and company financials – revenue ₹13,033.00 Cr, PAT ₹5,469.00 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore Hindustan Zinc Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
For the first quarter of fiscal 2027 ended June 30, 2026, Hindustan Zinc reported consolidated revenue from operations of INR 13,033 crore, alongside other operating revenue of INR 714 crore, bringing total operating revenue to INR 13,747 crore.
Total consolidated income for the quarter stood at INR 14,063 crore, which included INR 316 crore of other income.
Consolidated profit before tax (PBT) reached INR 7,314 crore, supported by robust segment results from the zinc, lead, and silver operations.
Net profit after tax (PAT) for the quarter settled at INR 5,469 crore, resulting in basic and diluted earnings per share of INR 12.94.
Total expenses for the quarter were contained at INR 6,749 crore, with mining royalty accounting for INR 1,536 crore and other expenses at INR 1,314 crore.
During the quarter, the Board of Directors declared an interim dividend of INR 11 per equity share, aggregating to INR 4,648 crore, with a record date of April 30, 2026, for the financial year 2026-27.
Profit after tax was ₹5,469.00 Cr for the reported quarter. EPS was ₹12.94 for the reported quarter.
01 · Business model
What does Hindustan Zinc do?
Hindustan Zinc Limited is an integrated producer of zinc, lead, and silver, operating primarily in the state of Rajasthan with mining, smelting, and captive power generation facilities.
The company's revenue streams are categorized into its core metal segment comprising zinc, lead, and silver, alongside a minor wind energy segment.
Hindustan Zinc serves industrial customers across domestic and international markets who utilize zinc and lead for galvanizing, die-casting, batteries, and chemical applications, while silver finds broad industrial and bullion demand.
02 · Historical context
What shaped the business before this quarter
On April 24, 2026, the Board of Directors declared an interim dividend of INR 11 per equity share amounting to INR 4,648 crore for financial year 2026-27, with a record date of April 30, 2026.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹13,033.00 Cr |
| Total income | ₹14,063.00 Cr |
| Profit before tax | ₹7,314.00 Cr |
| Profit after tax | ₹5,469.00 Cr |
| EPS | ₹12.94 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 42.0% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 56.1% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹1,030.00 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue from the zinc, lead, and others segment was INR 9,146 crore, while silver revenue contributed INR 3,839 crore, totaling INR 12,985 crore in segment revenue before other operating revenue and wind energy.
The wind energy segment contributed INR 48 crore in revenue during the quarter.
What drove margins
The company reported an EBIT operating margin of 52% and a net profit margin before exceptional items of 40% of revenue from operations.
Mining royalty stood at INR 1,536 crore, power and fuel expenses were INR 699 crore, and depreciation and amortisation expense was INR 920 crore.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The zinc, lead, and others segment delivered a profit before interest and tax of INR 3,846 crore, while the silver segment contributed INR 3,327 crore, bringing total segment results to INR 7,173 crore.
Segment assets for zinc, lead, and silver stood at INR 28,576 crore at the end of the quarter, with wind energy assets at INR 398 crore and unallocated assets at INR 14,019 crore.
06 · Reported developments
What changed operationally
Statutory auditors issued an unmodified conclusion on both the standalone and consolidated financial results for the quarter ended June 30, 2026.
07 · Pressure points & risks
What is not going smoothly
Disclosures note ongoing investigations by regulatory authorities regarding allegations from a previous short-seller report, SEBI observations on related-party transactions, and a search and seizure operation conducted by the Enforcement Directorate (ED) from June 1 to June 3, 2026, under the Foreign Exchange Management Act, 1999, where the company provided full cooperation.
08 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
The debt-equity ratio stood at 0.31 times as of June 30, 2026, with total debt comprising long-term borrowings and short-term borrowings against a net worth of INR 23,587 crore.
09 · Beyond the numbers
What changed beyond the numbers
Reported update
Subsidiary Structure
The consolidated financial results include the accounts of subsidiaries Hindustan Zinc Alloys Private Limited, Vedanta Zinc Football & Sports Foundation, Zinc India Foundation, Hindustan Zinc Fertilisers Private Limited, and Hindmetal Exploration Services Private Limited.
10 · Key Q&A
The quarter, answered directly
What does Hindustan Zinc do?
Hindustan Zinc Limited is an integrated producer of zinc, lead, and silver, operating primarily in the state of Rajasthan with mining, smelting, and captive power generation facilities.
What is the clearest takeaway from Q1 FY27?
For the first quarter of fiscal 2027 ended June 30, 2026, Hindustan Zinc reported consolidated revenue from operations of INR 13,033 crore, alongside other operating revenue of INR 714 crore, bringing total operating revenue to INR 13,747 crore.
What drove revenue or demand?
Revenue from the zinc, lead, and others segment was INR 9,146 crore, while silver revenue contributed INR 3,839 crore, totaling INR 12,985 crore in segment revenue before other operating revenue and wind energy.
What mattered most for margins or profitability?
The company reported an EBIT operating margin of 52% and a net profit margin before exceptional items of 40% of revenue from operations.
What changed operationally beyond the headline numbers?
The consolidated financial results include the accounts of subsidiaries Hindustan Zinc Alloys Private Limited, Vedanta Zinc Football & Sports Foundation, Zinc India Foundation, Hindustan Zinc Fertilisers Private Limited, and Hindmetal Exploration Services Private Limited.
What are the main pressure points disclosed for the quarter?
Disclosures note ongoing investigations by regulatory authorities regarding allegations from a previous short-seller report, SEBI observations on related-party transactions, and a search and seizure operation conducted by the Enforcement Directorate (ED) from June 1 to June 3, 2026, under the Foreign Exchange Management Act, 1999, where the company provided full cooperation.
11 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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12 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Regulatory Proceedings: Monitor any further communications or developments concerning the Enforcement Directorate search proceedings and SEBI observations on related-party transactions.
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