UDAIPUR (India CSR®): Hindustan Zinc Limited, the world’s largest integrated zinc producer and one of the top 10 silver producers globally, delivered a record second-quarter performance in Q2 FY27, posting its highest-ever quarterly net profit of Rs 6,412 crore, up 142% YoY, and record quarterly EBITDA of Rs 9,285 crore, up 108% YoY. The strong financial performance was supported by record second-quarter mined metal production of 271 KT, up 5% YoY, and refined metal production of 264 KT, up 7% YoY. The company also achieved a lower quarterly zinc cost of production of US$703 per tonne, underscoring its focus on operational excellence, productivity and cost competitiveness.
For the half year ended September 30, 2026, Hindustan Zinc recorded its highest-ever revenue from operations of Rs 28,840 crore, registering 77% YoY growth, leading to highest-ever EBITDA of Rs 17,359 crore, up 108% YoY, and record net profit of Rs 11,881 crore, up 143% YoY. The performance reflects the company’s ability to combine strong production, disciplined cost management and robust financial delivery, further strengthening its position as a globally competitive, low-cost zinc producer.
Commenting on the company’s performance, Amarendu Prakash, Chief Executive Officer, said:
“I am honored to lead Hindustan Zinc at this pivotal stage. Our record quarterly mined metal production of 271 KT and refined metal production of 264 KT demonstrates the strength of our operations, assets and people. We remain focused on disciplined growth, AI-led innovation, and advancing our critical minerals portfolio to support India’s energy transition while delivering long-term stakeholder value.”
Amit Gupta, Chief Financial Officer, said:
“Hindustan Zinc delivered the highest-ever quarterly financial performance, with EBITDA of Rs 9,285 crore and net profit of Rs 6,412 crore. Our industry-leading EBITDA margin of 62%, strong cash generation, and robust balance sheet underscore our focus on financial discipline and productivity. We remain committed to investing in growth, maintaining financial resilience, and creating long-term shareholder value.”
Financial Summary
Particulars in Rs crore or as stated
| Particulars | Q2 FY27 | Q2 FY26 | YoY Change |
|---|---|---|---|
| Zinc | 8,224 | 5,354 | 54% |
| Lead | 1,130 | 840 | 35% |
| Silver | 4,111 | 1,706 | 141% |
| Others | 1,628 | 649 | 151% |
| Total Sales¹ | 15,093 | 8,549 | 77% |
| EBITDA | 9,285 | 4,467 | 108% |
| EBITDA Margin | 62% | 52% | – |
| Net Profit (after exceptional items) | 6,412 | 2,649 | 142% |
| Earnings per Share² | 15.2 | 6.3 | 142% |
| Zinc CoP excluding royalty ($/MT) | 703 | 994 | (29%) |
| Particulars | Q1 FY27 | QoQ Change |
|---|---|---|
| Zinc | 7,304 | 13% |
| Lead | 1,086 | 4% |
| Silver | 3,839 | 7% |
| Others | 1,518 | 7% |
| Total Sales¹ | 13,747 | 10% |
| EBITDA | 8,074 | 15% |
| EBITDA Margin | 59% | – |
| Net Profit (after exceptional items) | 5,469 | 17% |
| Earnings per Share² | 12.9 | 17% |
| Zinc CoP excluding royalty ($/MT) | 851 | (17%) |
| Particulars | H1 FY27 | H1 FY26 | YoY Change |
|---|---|---|---|
| Zinc | 15,528 | 10,289 | 51% |
| Lead | 2,216 | 1,712 | 29% |
| Silver | 7,950 | 3,133 | 154% |
| Others | 3,146 | 1,186 | 165% |
| Total Sales¹ | 28,840 | 16,320 | 77% |
| EBITDA | 17,359 | 8,328 | 108% |
| EBITDA Margin | 60% | 51% | – |
| Net Profit (after exceptional items) | 11,881 | 4,883 | 143% |
| Earnings per Share² | 28.1 | 11.6 | 143% |
| Zinc CoP excluding royalty ($/MT) | 776 | 1,002 | (23%) |
Note: All numbers reported are consolidated numbers unless otherwise mentioned.
Including other operating income. Rs , not annualised.
Revenue
Revenue from operations stood at Rs 15,093 crore during the quarter, up 77% YoY, driven by higher metal prices, increased metal production, higher by-product realisation, and a stronger dollar.
EBITDA
EBITDA stood at Rs 9,285 crore during the quarter, up 108% YoY, driven by increased metal production, higher metal prices, lower cost of production, and a stronger dollar.
The Company continues to maintain an attractive industry-leading EBITDA margin of 62% during the quarter, up c.900 bps YoY.
Net Profit
During the quarter, net profit stood at Rs 6,412 crore, up 142% YoY in line with record EBITDA. The effective tax rate for the quarter was 25.20%.
Zinc Cost of Production (CoP)
Zinc CoP excluding royalty stood at $703 per tonne during the quarter, better by 29% YoY on account of better mined grades, increased metal production, better renewable power consumption and higher by-product realisations, partly offset by lower domestic coal usage and increased input commodity prices in line with the ongoing geopolitical crisis globally.
Liquidity and Investment
As of September 30, 2026, the Company had healthy gross investments and cash of Rs 17,439 crore. Total borrowings outstanding as of September 30, 2026, were Rs 6,171 crore.
The Company has a consistent investment-grade credit rating of AAA from CRISIL, demonstrating the strength of the balance sheet.
Earnings Call on Monday, October 19, 2026, at 16:00 Hours (IST)
The senior management will discuss the Company’s results and performance on the earnings conference call.
Conference Dial-In Information: (Please dial in at least 5–10 minutes prior to the conference schedule.)
(India CSR®)
