Hindustan Zinc Limited

HINDZINC.NS

Industrial Materials · Basic Materials

Price

₹603.00

+13.00 (+2.20%)

Market Cap

₹2.55T

Exchange

National Stock Exchange of India

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Data as of Aug 9, 2026 · filings through Jun 30, 2026

Hindustan Zinc Limited is one of the world's largest integrated producers of zinc and lead, with significant silver production as well. The company mines ore from its operations in Rajasthan, India, and processes it into refined metals sold to manufacturers in industries like construction, automotive, steel galvanizing, and electronics. It is a subsidiary of Vedanta Limited and holds a dominant position in India's zinc market.

The company earns money by selling zinc, lead, and silver — mostly as physical commodities priced on global metal markets. Nearly all of its operations are based in India, making it heavily tied to domestic industrial demand and global commodity price cycles. Its massive, low-cost mines in Rajasthan give it a strong cost advantage over many global peers, reflected in its unusually high operating margins. The key growth driver is rising zinc demand from India's infrastructure expansion, while the main risk is a sustained drop in global zinc or silver prices, which would directly compress revenues and profits.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+43.8% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+67.5% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (3%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

88.6%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$0 cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Hindustan Zinc Limited grew revenue 44% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 4.22B (2022) → 4.23B (2026)

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

76.2%

Premium pricing power — 76.2% gross margin

Operating Margin

54.7%

Excellent — 54.7% operating margin

ROCE

23.0%

Exceptional — 23.0% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales YoY

+37.1%

Fast-growing sales (+37.1% YoY)

EPS YoY

+66.6%

Earnings growing fast (+66.6% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Cash Conversion

33%

Weak — only 33% of profit becomes cash

FCF Margin

6.9%

Modest free cash flow (6.9%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

Debt / Equity

0.37

Conservative — low debt load (0.37)

Interest Cover

29.05x

Comfortably covers interest (29.1x)

Interest coverage above 8. Profits cover interest many times over.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

P/E Ratio (TTM)

14.9x

Attractive valuation — P/E 14.9

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

+3.6

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (14.9 → 11.3)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend Yield

2.04%

Moderate income — 2.04% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

-3.8%

Dividend cut (-3.8% YoY) — warning sign

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial