Athira Sethu
Kochi, 20 Jan 2026
Hindustan Zinc (HZL), a subsidiary of Vedanta, has posted impressive financial results for the December quarter, marking its highest-ever quarterly growth both in terms of revenue and net profit. Rising silver prices complemented the financial performance of the company.
| Metric | Q3FY26 Value | YoY Change | QoQ Change |
| Net Profit | Rs 3,916 crore | +46% | +48% |
| Total Revenue | Rs 10,980 crore | +27% | +28% |
| Mined Metal Production | 276 Kt | +4% | +7% |
| Cost of Production | $940 per tonne | -10% | -5% |
| EBITDA | Rs 6,087 crore | +34% | +36% |
| EBITDA Margin | 55% | +270 bps | +320 bps |
| Silver Production | 158 MT | +10% | – |
| Contributed to National Exchequer | Rs 13,000 crore | – | – |
| Contributed to Rajasthan Exchequer | Rs 4,000 crore | – | – |
Key Highlights:
| Category | Details |
| Debottlenecking at Smelters | Chanderiya Smelter: Refined zinc capacity increased by 21 Ktpa |
| Dariba Smelter: Earlier debottlenecking completed | |
| Tungsten Block Bid | Successful bidder for the Tungsten Block in Balepalyam, Andhra Pradesh |
| Liquidity & Investments | Gross cash and equivalents: Rs 9,342 crore |
| Borrowings: Rs 9,013 crore | |
| Net cash: Rs 329 crore (from a net debt of Rs 2,547 crore as of Sept 30) | |
| Credit Rating | AAA (CRISIL), demonstrating strong balance sheet strength |
Quarterly Financial Summary:
| Financial Metric | Q3FY26 | Q3FY25 |
| Revenue from Operations | Rs 10,980 crore | Rs 8,614 crore |
| Net Profit | Rs 3,916 crore | Rs 2,678 crore |
| EBITDA | Rs 6,087 crore | Rs 4,535 crore |
| Earnings per Share (EPS) | Rs 17.40 | Rs 11.92 |
| Cost of Production per Tonne | $940 | $1,045 |
| Silver Contribution to Profits | 44% | – |
