THEBUSINESSBYTES BUREAU

NEW DELHI, JANUARY 19, 2026

Vedanta-owned Hindustan Zinc has delivered a stellar performance in the third quarter of FY26, posting a robust 46 per cent year-on-year jump in net profit to Rs 3,916 crore, compared to Rs 2,678 crore in the corresponding quarter last year, underscoring the company’s strong operational momentum and favourable commodity dynamics.

On a sequential basis, net profit surged 47.8 per cent from Rs 2,649 crore in Q2 FY26, reflecting sharp improvement across both volumes and realizations. Earnings per share for the quarter rose significantly to Rs 9.27 from Rs 6.34 a year ago, highlighting enhanced shareholder value creation.

The company’s topline performance was equally impressive, with consolidated revenue from operations rising 27.4 per cent year-on-year to Rs 10,980 crore, up from Rs 8,614 crore in Q3 FY25. Core revenue from operations grew even faster, registering a 27.8 per cent annual increase and a 28.3 per cent quarter-on-quarter expansion to Rs 10,627 crore, supported by strong metal prices and improved production efficiency.

A standout contributor to this growth was the silver segment, which recorded an exceptional 82.5 per cent year-on-year jump in revenue to Rs 2,676 crore, compared to Rs 1,465 crore in the same period last year. The surge was driven by a sharp rally in global silver prices, which climbed nearly 52 per cent during the quarter, lifting silver’s contribution to more than 25 per cent of total revenue, up from 17 per cent a year earlier. Meanwhile, revenue from zinc, lead and other segments rose a steady 16.1 per cent year-on-year to Rs 7,932 crore.

At the operating level, Hindustan Zinc reported a strong expansion in profitability, with EBITDA rising 35 per cent year-on-year to Rs 5,701 crore, compared to Rs 4,200 crore in the previous year’s quarter. The EBIT margin improved to 47 per cent, up from 42 per cent both in the year-ago period and the preceding quarter, reflecting better cost management and higher realizations. The quarter also accounted for a Rs 31 crore impact arising from the implementation of new labour codes since November 2025.

Operationally, the company achieved a record third-quarter refined metal production of 270 kilotonnes, driven by the commissioning of debottlenecking projects at Chanderiya and Dariba, the ramp-up of the 160 KTPA roaster at Debari, and improved plant availability. Refined lead production declined 11 per cent year-on-year due to specific operational modes adopted in the previous period, while saleable silver production stood at 158 metric tonnes, marking a 10 per cent sequential increase in line with lead output.