Hindustan Zinc reported a 142% rise in consolidated net profit to ₹6,412 crore for the July to September quarter of FY27, compared with ₹2,649 crore a year earlier. Revenue from operations rose 76.5% to a record ₹15,093 crore, and the Vedanta group company’s Q2 results beat estimates cited in market reports.
The company announced the numbers on Monday, 19 October 2026, and the stock is in focus on 21 October because markets were shut on 20 October for Dussehra.
Hindustan Zinc Q2 FY27 Results at a Glance
Profit more than doubled because higher metal prices and lower costs pushed the operating margin up by about 10 percentage points. EBITDA rose 108% to ₹9,285 crore, and the margin widened to 62% from 52% a year earlier.
Hindustan Zinc Q2 FY27 key numbers
| Metric | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Consolidated net profit | ₹6,412 crore | ₹2,649 crore | 142% |
| Revenue from operations | ₹15,093 crore | ₹8,549 crore | 76.5% |
| EBITDA | ₹9,285 crore | ₹4,467 crore | 108% |
| EBITDA margin | 62% | 52% | 10 percentage points |
| Earnings per share | ₹15.2 | ₹6.3 | More than doubled |
Compared with the previous quarter, net profit rose 17.2% and revenue rose 9.8%. One report said profit was about 15% above the consensus forecast and revenue was about 7.5% above it. The company’s chief financial officer described the quarter as its highest ever in financial performance.
Silver and Zinc Drive Hindustan Zinc Revenue
Silver became a much larger part of the business. Silver sales rose 141% year on year to ₹4,111 crore and made up about 27% of revenue, against about 20% a year earlier. Zinc sales rose 54% to ₹8,224 crore, or about 54% of revenue.
Silver production increased 20% year on year to 173 tonnes in the quarter, according to ANI. The company attributed the revenue growth to higher metal prices, increased production, better by-product realisations and a stronger dollar.
Silver Share of Profit
The company said silver contributed about 45% of its overall profitability in the first half of FY27, when saleable silver production was 321 tonnes.
How the Quarter Compares With the Previous Year
The year-ago quarter was a modest one for the company, with net profit of ₹2,649 crore and an EBITDA margin of 52%. Since then, higher realisations on zinc and silver, record output and lower unit costs have all moved in the company’s favour at the same time. That combination is why profit grew roughly twice as fast as revenue.
Revenue rose 76.5% while net profit rose 142%. The gap between the two shows operating leverage, where a rise in selling prices adds more to profit than to sales because many costs stay fixed.
Lower Zinc Cost of Production
The cost of producing zinc, excluding royalty, fell 29% year on year to $703 per tonne from $994 per tonne in the same quarter last year. That decline, along with record production, helped lift the EBITDA margin.
The effective tax rate for the quarter was 25.20%. Multibagg’s summary of the company’s disclosures also lists the sensitivities of annual EBITDA to commodity and currency moves.
- ₹725 to ₹750 crore for every $100 per tonne change in zinc prices.
- ₹200 to ₹225 crore for every $1 per ounce change in silver prices.
- ₹325 to ₹350 crore for every ₹1 move in the rupee against the US dollar.
Hindustan Zinc H1 FY27 Performance
For the first half of FY27, revenue from operations rose 77% to ₹28,840 crore. EBITDA increased 108% to ₹17,359 crore, with a margin of 60% against 51% a year earlier. Net profit rose 143% to ₹11,881 crore from ₹4,883 crore.
PTI reports describe Hindustan Zinc as an integrated zinc producer and one of the top five silver producers globally, with about 77% of India’s primary zinc market. The first-half figures show how strongly the company has gained from the rally in zinc and silver prices.
Why Commodity Prices Matter for Hindustan Zinc Shares
Because the company sells metals priced on global markets, its earnings move with zinc and silver prices and with the rupee. The sensitivity figures above show that a $1 move in silver changes annual EBITDA by ₹200 to ₹225 crore. A move in zinc prices has a much larger effect for each $100 per tonne.
Investors who track metal stocks usually follow the London Metal Exchange price of zinc, the price of silver and the dollar-rupee rate alongside the company’s quarterly disclosures. Anyone who wants to buy the stock needs to open a demat account with a depository participant and place the order through a share market app or a broker’s website.
Parent Company and Group Context
Hindustan Zinc is part of the Vedanta group, and its results are closely watched because the company is a large contributor to group earnings. Business Standard’s stocks to watch list for 21 October named it among the stocks in action, along with Eternal, YES Bank, Bajaj Finance, IREDA and L&T Technology Services.
What to Watch Next for Hindustan Zinc
The key items are the stock’s reaction on 21 October, the company’s production guidance and the direction of silver prices. The reports reviewed did not give a dividend decision with the results, so any announcement would come through the exchanges.
The company’s filings on NSE and BSE remain the primary source for the full results, segment data and management commentary.
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