Hindustan Zinc, the Vedanta Group company based in Udaipur, Rajasthan, announced its Q4 FY26 results on April 24, 2026 — and every major metric hit a new record.
Net profit for Q4 FY26 surged 67.6% year-on-year to ₹5,033 crore. Last year, the same quarter brought in ₹3,003 crore. That's a ₹2,030 crore increase in a single year.
Revenue rose 43.8% year-on-year to ₹12,692 crore, compared to ₹8,829 crore in Q4 FY25.
EBITDA — earnings before interest, tax, depreciation and amortisation — came in at ₹7,706 crore for the quarter, up 60.7% year-on-year. EBITDA margin expanded to 56.9%. That means the company is converting more than half of every rupee of revenue into operating cash.
Full Year FY26: Highest-Ever Everything
For the full fiscal year ending March 31, 2026:
- Revenue: ₹40,844 crore — highest ever, up 20% year-on-year
- EBITDA: ₹22,162 crore — highest ever, up 27% year-on-year
- EBITDA margin: 54% — industry-leading
- Net profit: ₹13,832 crore — record high, up 34% year-on-year
- Cash and investments: ₹13,846 crore on the balance sheet
- Total borrowings: ₹8,252 crore
The company is net-positive on cash relative to borrowings — a sign of genuine financial health, not just revenue growth.
Also Read: RIL Q4 Results 2026: Record Annual Revenue, But Quarterly Profit Slips
Operational Records
Mined metal production reached 1,114 Kt (kilo tonnes) for the full year — the highest ever.
Refined metal production was 1,048 Kt — the second highest in company history.
Silver production: 627 tonnes for the year. Silver now contributes 45% to the company's overall profitability. Hindustan Zinc is among the top 10 silver producers globally, and the rising silver price environment has been a major tailwind.
In Q4 alone, silver production rose 11% quarter-on-quarter, driven by higher lead output.
Cost Leadership
This is the part that separates a genuinely well-run company from one that just benefits from commodity prices.
Zinc cost of production for FY26 came in at $959 per tonne — a 9% improvement year-on-year and the lowest in five years. This was achieved through:
- Higher domestic coal usage in power generation
- Softened coal prices
- Increased renewable energy usage
- Higher by-product realisation
- Better ore grades from mines
In Q4 specifically, zinc production cost fell to $994 per tonne — the lowest in 16 quarters.
The company completed debottlenecking at its Chanderiya Smelting Complex and Dariba Smelter in Rajasthan — increasing refined zinc capacity and setting up a stronger platform for future production.
Also Read: HDFC Bank Q4 FY26 Results: Profit Up 9%, Dividend at Rs 15.50
Reserve Life: 25+ Years
Hindustan Zinc reported record ore reserves of 468.6 million tonnes as of March 31, 2026 — with a metal reserve and resource base of 29.2 million tonnes. Silver reserves stand at 24.2 kilo tonnes.
At current mining rates, the reserve base supports over 25 years of mine life. This is not a company that will run out of ore anytime soon.
Dividend Declared
The board declared a first interim dividend for FY27 of ₹11 per equity share (face value ₹2 per share) — that's 550% of face value. The total dividend outgo is ₹4,648 crore. Record date for dividend payment: April 30, 2026.
FAQs
Q1. What was Hindustan Zinc's net profit in Q4 FY26? ₹5,033 crore — a 67.6% jump year-on-year from ₹3,003 crore in Q4 FY25.
Q2. What dividend has Hindustan Zinc declared? ₹11 per equity share (face value ₹2) as first interim dividend for FY27. Record date: April 30, 2026.
Q3. How much silver does Hindustan Zinc produce? 627 tonnes annually in FY26. Silver contributes 45% to overall company profitability.
Q4. What is the mine life at Hindustan Zinc? Over 25 years at current mining rates, based on total ore reserves of 468.6 million tonnes.
Q5. What is Hindustan Zinc's cost of zinc production? $959 per tonne for FY26 — a 5-year low and among the lowest globally.