Hindustan Zinc Limited (NSE:HINDZINC) reported unaudited consolidated financial results for the first quarter ended 30 June 2026 at a Board meeting held on 24 July 2026. The company posted a net profit of Rs 5,469 crore on total income of Rs 14,063 crore, with revenue from operations standing at Rs 13,747 crore. The statutory auditors, MSKA & Associates LLP, issued a limited review report with an unmodified opinion on the financial results.
Key Highlights
- Q1 FY27 consolidated net profit reached Rs 5,469 crore, compared to Rs 5,033 crore in Q4 FY26 and Rs 2,234 crore in Q1 FY26, representing a 9 percent increase quarter-on-quarter and 145 percent year-on-year.
- Revenue from operations for Q1 FY27 was Rs 13,747 crore, up from Rs 13,544 crore in Q4 FY26 and significantly higher than Rs 7,771 crore in the year-ago quarter.
- Profit before tax for the quarter was Rs 7,314 crore, exceeding the Q4 FY26 figure of Rs 6,751 crore and the Q1 FY25 figure of Rs 2,985 crore.
- Basic earnings per share for Q1 FY27 stood at Rs 12.94 per share, up from Rs 11.91 in Q4 FY26 and Rs 5.29 in Q1 FY26.
- Total comprehensive income for the quarter reached Rs 5,606 crore, with other comprehensive income of Rs 137 crore included in the consolidated statement.
- The Board approved the unaudited standalone and consolidated financial results along with the limited review report issued under Regulation 33 and Regulation 52 of the SEBI Listing Regulations.
- The financial results are available on the company's website at https://www.hzlindia.com/
About the Company
Hindustan Zinc Limited (NSE:HINDZINC, BSE:500188) is an integrated producer of zinc and silver, headquartered in Udaipur, Rajasthan. The company operates mining and smelting facilities across India and is engaged in the extraction, processing, and production of zinc metal and silver. Hindustan Zinc maintains multiple subsidiaries including Hindustan Zinc Alloys Private Limited, Hindustan Zinc Fertilisers Private Limited, Zinc India Foundation, and others. The company is listed on both the National Stock Exchange and the Bombay Stock Exchange and operates as a significant participant in India's mineral and metals sector.
Announcement in Detail
Hindustan Zinc's Board of Directors, meeting on 24 July 2026, approved the unaudited consolidated and standalone financial results for the first quarter of FY27 ended 30 June 2026. The consolidated financial results encompassed the holding company and five 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.
The consolidated results showed total revenue from operations of Rs 13,747 crore, composed of revenue of Rs 13,033 crore and other operating revenue of Rs 714 crore. With other income of Rs 316 crore, total income stood at Rs 14,063 crore for the quarter. The company reported profit before tax of Rs 7,314 crore with no exceptional items recorded in the quarter. Net tax expense aggregated Rs 1,845 crore, comprising current tax of Rs 1,877 crore and deferred tax benefit of Rs 32 crore. This yielded a net profit of Rs 5,469 crore for the quarter.
The statutory auditors, MSKA & Associates LLP, Chartered Accountants, issued a limited review report on the consolidated results with an unmodified opinion, confirming that the financial statements were prepared in accordance with Ind AS 34 and other recognised accounting principles. The review was conducted under Standard on Review Engagements 2410 issued by the Institute of Chartered Accountants of India. The auditors noted in their report that the financial results included subsidiary data reviewed by other auditors and flagged ongoing regulatory investigations disclosed in Notes 5(a) and 5(b) to the financial statements, though this did not modify their conclusion on the results.
Impact on Investors
The Q1 FY27 results demonstrate strong operational performance relative to prior periods. Investors will note that net profit grew 9 percent quarter-on-quarter from Rs 5,033 crore in Q4 FY26 to Rs 5,469 crore in Q1 FY27, and increased 145 percent year-on-year compared to Q1 FY26's net profit of Rs 2,234 crore. This substantial year-on-year expansion reflects improved profitability in the current period. Basic earnings per share of Rs 12.94 in Q1 FY27 represents growth from Rs 11.91 in the previous quarter and Rs 5.29 in the year-ago quarter, indicating higher per-share earnings for shareholders.
The filing shows that total comprehensive income of Rs 5,606 crore incorporates net profit of Rs 5,469 crore plus other comprehensive income of Rs 137 crore. Shareholders should observe that revenue from operations increased on a sequential basis to Rs 13,747 crore in Q1 FY27 from Rs 13,544 crore in Q4 FY26. The disclosed tax expense of Rs 1,845 crore represents an effective tax rate of approximately 25.2 percent on profit before tax. The results carry an audit clearance with unmodified opinion from the statutory auditors, confirming compliance with applicable accounting standards. Investors will note that the company continues to operate under regulatory investigations as disclosed in the audit report's references to Notes 5(a) and 5(b), though these remain under assessment by management and the auditors did not qualify their opinion based on these matters.
Sector / Market Context
Hindustan Zinc operates within India's mining and metals sector, which comprises producers of key industrial minerals and metals including zinc, copper, iron ore, and precious metals. India is a significant global producer of zinc and remains heavily dependent on both domestic mining output and imports to meet industrial demand. The sector encompasses integrated miners engaged in extraction, processing, and refining operations across multiple geographic locations. Zinc and silver are critical inputs for galvanising, chemical manufacturing, pharmaceutical production, and various industrial applications across India's manufacturing ecosystem.
The first quarter typically reflects operational dynamics tied to monsoon cycles, maintenance scheduling, and global commodity prices, all of which influence production volumes and realised prices for miners. India's minerals sector remains subject to regulatory oversight by state and central authorities regarding environmental compliance, mining royalties, and other statutory requirements. The sector context shows that integrated producers like Hindustan Zinc operate in a price-sensitive environment where global market conditions for zinc and silver significantly influence revenue and margin outcomes across reporting periods.