Business
Hindustan Zinc Q3 results: Vedanta arm delivers highest-ever PAT growth of 46% YoY; revenue rises 27% on silver wave
Company’s total revenue from operations in Q3FY26 was also its highest-ever quarterly revenue at Rs 10,980 crore, up 27% from Rs 8,614 crore posted in the corresponding quarter of the last financial year.
HZL mined metal production in the quarter under review stood at 276 Kt, remaining its highest-ever for the third quarter. It was up 7% QoQ.
The profit after tax (PAT) was up 48% QoQ while total revenue increased 28% sequentially.
The company in its filing to the exchanges, reported that its quarterly cost of production was the lowest in 5 years, standing at $940 per tonne, which is 5% better QoQ and 10% YoY.
The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) also stood at a record Rs 6,087 crore, up 36% QoQ and 34% YoY with industry leading EBITDA margin of 55%, up approximately 320 bps QoQ and and 270 bps YoY, the company filing said.
Silver production
Silver production of 158 MT was a 10% QoQ jump, contributing 44% to profits, uniquely positioned for riding the silver wave.The company said that the debottlenecking at Chanderiya Smelter has been completed and refined zinc capacity increased by 21 Ktpa including the earlier commissioned debottlenecking at Dariba Smelter.
The company was declared the successful bidder for the Tungsten Block in Balepalyam, Andhra Pradesh and it delivered superior shareholder wealth creation at 5X of Nifty 100 and 2.4X of Nifty Metal returns.
Liquidity & investment
As on December 31, 2025, the company had healthy gross investments and cash, and cash equivalents of Rs 9,342 crores invested in high quality debt instruments. Total borrowings outstanding as on December 31, 2025, was Rs 9,013 crores. The net cash stood at Rs 329 crores as on December 31, 2025, in comparison to a net debt position of Rs 2,547 crores as on September 30, 2025.
Company has a consistent investment grade credit rating of AAA from CRISIL, demonstrating the strength of the balance sheet.
Contribution to exchequer
The company said that during the nine months, it contributed to the national exchequer of over Rs 13,000 crore. This includes the contribution to the Rajasthan state exchequer of over Rs 4,000 crore, including mining royalties.
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