Hindustan Zinc, a key Vedanta Group company, is poised to release its financial results for the fourth quarter and full financial year ended March 31, 2026, on Friday, April 24. Alongside its earnings report, the metal mining giant is also expected to declare the first interim dividend for the fiscal year 2026-27, drawing significant attention from investors and market analysts.
The announcement comes as shares of Hindustan Zinc experienced a slight dip on Friday, trading down over one percent at Rs 586.90. This movement pushed the company's market capitalization below the Rs 2.5 lakh crore mark. The stock has seen a 20 percent decline from its 52-week high of Rs 732.60, recorded just three months prior in January 2026. However, it has shown resilience, rising 18 percent over the past month.
Analyst Expectations for Q4 Performance
Brokerage firms are largely forecasting a robust quarter for Hindustan Zinc, primarily driven by favorable metal prices, particularly zinc and silver, and improved sales volumes. Here’s a summary of key projections:
- Systematix Institutional Equities anticipates revenue at Rs 11,760 crore, a 33 percent year-on-year (YoY) increase and 11 percent quarter-on-quarter (QoQ) rise. EBITDA is projected at Rs 7,290 crore (up 51% YoY, 20% QoQ), with margins expanding to 60 percent. Net profit is expected around Rs 4,690 crore (up 56% YoY, 20% QoQ). The brokerage highlights silver prices as a crucial earnings driver and expects sales volume to increase by 4 percent.
- YES Securities forecasts revenue of Rs 11,581.2 crore (up 31.9% YoY, 9.6% QoQ) and EBITDA at Rs 6,875.2 crore (up 43.7% YoY, 14.5% QoQ). Despite potential hedging losses, a favorable pricing environment and operating leverage are expected to support margin expansion. Net profit is penciled in at Rs 4,365.8 crore (up 46.7% YoY, 13.1% QoQ).
- Kotak Institutional Equities projects the highest revenue at Rs 12,283 crore (up 34.6% YoY, 11.4% QoQ). EBITDA is estimated at Rs 7,465.5 crore (up 55% YoY, 23.3% QoQ), with margins improving to 61.1 percent. Net profit could reach Rs 4,874.3 crore (up 62.3% YoY, 25.1% QoQ). Kotak expects zinc sales to grow by 4.1 percent YoY, while lead and silver sales might see minor declines.
Dividend History and Analyst Ratings
Hindustan Zinc has a consistent history of dividend payouts, having traded ex-dividend seven times in the last three years. The company has distributed a total of Rs 91 per share in dividends over this period, with notable payouts including Rs 10 in June 2025, Rs 19 in August 2024, and Rs 10 in May 2024.
Market analysts hold varied views on the stock's future trajectory:
- Systematix and Ventura Securities maintain a 'buy' rating, with target prices of Rs 755 and Rs 829, respectively.
- Geojit Financial Services issued a 'hold' recommendation with a target of Rs 688.
- Motilal Oswal Financial Services has a 'neutral' rating and a target price of Rs 580.
- Conversely, Kotak Institutional Equities has a 'sell' rating, setting a target price of Rs 385.
As of March 31, 2026, Vedanta Ltd, the promoter, held a 60.71 percent stake in Hindustan Zinc, while the Government of India, through the President, owned 27.92 percent. Retail investors collectively held approximately 3.56 percent of the company's equity.