HINDUSTAN ZINC Ltd (HINDZINC) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+0.53%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 2.2%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 76.6%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹558.74

200-Day DMA ● Overlay

₹518.21

14-Day RSI ● Overlay

53.9 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹2.35 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

13.8x

Price / EPS

Book Value (₹) Assets

₹53.6

P/B: 10.4x

ROE (%) Quality

76.6%

Net Profit / Equity

ROCE (%) Efficiency

69.5%

EBIT / Capital

Dividend Yield Yield

1.98%

Face Value: ₹10

Debt / Equity Solvency

0.39x

Manageable

EPS (TTM) Per Share

₹40.22

Trailing 12M

OPM (%) Spread

56.0%

EBITDA Margin

Free Cash Flow Cash

₹11,746 Cr

CFO - Capex

About HINDUSTAN ZINC Ltd

HINDUSTAN ZINC Ltd (HINDZINC) is an Indian publicly traded enterprise listed on the National Stock Exchange (NSE).

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 40.3% × Turnover: 0.85x × Leverage: 1.39x = ROE: 76.6%

✓ Company Strengths (Pros)

• Company has a stellar track record of return on equity (ROE of 76.6%).
• Efficient capital productivity with a high ROCE of 69.5%.

⚠ Key Considerations & Risks (Cons)

• Stock is trading at a premium of 10.4x its book value.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹46,820 Cr

Latest PAT

₹17,067 Cr

EPS (TTM)

₹40.22

OPM %

56.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹7,282 Cr	₹6,791 Cr	₹7,310 Cr	₹7,549 Cr	₹8,130 Cr	₹8,252 Cr	₹8,614 Cr	₹9,087 Cr	₹7,771 Cr	₹8,549 Cr	₹10,980 Cr	₹13,544 Cr	₹13,747 Cr
Operating Profit (EBITDA)	₹3,347 Cr	₹3,139 Cr	₹3,521 Cr	₹3,649 Cr	₹3,946 Cr	₹4,123 Cr	₹4,499 Cr	₹4,820 Cr	₹3,859 Cr	₹4,445 Cr	₹6,054 Cr	₹7,706 Cr	₹8,050 Cr
OPM %	46.0%	46.0%	48.0%	48.0%	49.0%	50.0%	52.0%	53.0%	50.0%	52.0%	55.0%	57.0%	59.0%
Interest Expense	₹218.00 Cr	₹232.00 Cr	₹243.00 Cr	₹262.00 Cr	₹256.00 Cr	₹303.00 Cr	₹285.00 Cr	₹251.00 Cr	₹240.00 Cr	₹259.00 Cr	₹195.00 Cr	₹187.00 Cr	₹132.00 Cr
Depreciation	₹801.00 Cr	₹825.00 Cr	₹905.00 Cr	₹937.00 Cr	₹844.00 Cr	₹877.00 Cr	₹905.00 Cr	₹1,014 Cr	₹913.00 Cr	₹882.00 Cr	₹947.00 Cr	₹1,048 Cr	₹920.00 Cr
Profit before Tax (PBT)	₹2,610 Cr	₹2,305 Cr	₹2,669 Cr	₹2,723 Cr	₹3,114 Cr	₹3,130 Cr	₹3,527 Cr	₹3,782 Cr	₹2,985 Cr	₹3,542 Cr	₹5,230 Cr	₹6,751 Cr	₹7,314 Cr
Net Profit (PAT)	₹1,964 Cr	₹1,729 Cr	₹2,028 Cr	₹2,038 Cr	₹2,345 Cr	₹2,327 Cr	₹2,678 Cr	₹3,003 Cr	₹2,234 Cr	₹2,649 Cr	₹3,916 Cr	₹5,033 Cr	₹5,469 Cr
EPS in ₹	₹4.65	₹4.09	₹4.80	₹4.82	₹5.55	₹5.51	₹6.34	₹7.11	₹5.29	₹6.27	₹9.27	₹11.91	₹12.94

Annual P&L (₹ Cr)	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹22,629 Cr	₹29,440 Cr	₹34,098 Cr	₹28,932 Cr	₹34,083 Cr	₹40,844 Cr	₹46,820 Cr
Expenses	₹10,957 Cr	₹13,215 Cr	₹16,583 Cr	₹15,256 Cr	₹16,652 Cr	₹18,764 Cr	₹20,565 Cr
Operating Profit	₹11,672 Cr	₹16,225 Cr	₹17,515 Cr	₹13,676 Cr	₹17,431 Cr	₹22,080 Cr	₹26,255 Cr
OPM %	52%	55%	51%	47%	51%	54%	56%
Interest	₹386.00 Cr	₹290.00 Cr	₹333.00 Cr	₹955.00 Cr	₹1,095 Cr	₹881.00 Cr	₹773.00 Cr
Depreciation	₹2,531 Cr	₹2,917 Cr	₹3,264 Cr	₹3,468 Cr	₹3,640 Cr	₹3,790 Cr	₹3,797 Cr
Profit before Tax	₹10,574 Cr	₹14,100 Cr	₹15,288 Cr	₹10,307 Cr	₹13,553 Cr	₹18,508 Cr	₹22,837 Cr
Net Profit	₹7,980 Cr	₹9,629 Cr	₹10,511 Cr	₹7,759 Cr	₹10,353 Cr	₹13,832 Cr	₹17,067 Cr
EPS in Rs	18.89	22.79	24.88	18.36	24.50	32.74	40.39

Balance Sheet (₹ Cr)	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	₹845.00 Cr	₹845.00 Cr	₹845.00 Cr	₹845.00 Cr	₹845.00 Cr	₹845.00 Cr
Reserves & Surplus	₹31,468 Cr	₹33,436 Cr	₹12,087 Cr	₹14,350 Cr	₹12,481 Cr	₹21,784 Cr
Borrowings (Debt)	₹7,201 Cr	₹2,844 Cr	₹11,881 Cr	₹8,722 Cr	₹10,967 Cr	₹8,728 Cr
Total Liabilities	₹45,727 Cr	₹44,670 Cr	₹35,467 Cr	₹33,895 Cr	₹34,490 Cr	₹42,370 Cr
Fixed Assets	₹16,808 Cr	₹17,396 Cr	₹17,622 Cr	₹18,151 Cr	₹18,608 Cr	₹19,937 Cr
Total Assets	₹45,727 Cr	₹44,670 Cr	₹35,467 Cr	₹33,895 Cr	₹34,490 Cr	₹42,370 Cr

Cash Flows (₹ Cr)	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹10,567 Cr	₹12,691 Cr	₹15,162 Cr	₹13,346 Cr	₹14,160 Cr	₹17,008 Cr
Cash from Investing (CFI)	-₹2,435 Cr	₹846.00 Cr	₹6,529 Cr	-₹3,406 Cr	-₹2,706 Cr	-₹8,906 Cr
Cash from Financing (CFF)	-₹9,697 Cr	-₹12,258 Cr	-₹23,224 Cr	-₹9,946 Cr	-₹11,411 Cr	-₹7,901 Cr
Free Cash Flow (FCF)	₹8,140 Cr	₹9,723 Cr	₹11,587 Cr	₹9,531 Cr	₹10,161 Cr	₹11,746 Cr

Efficiency Ratios	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days (DSO)	7	9	4	2	1	4
Inventory Days	0	0	0	0	0	0
Cash Conversion Cycle (Days)	7	9	4	2	1	4
ROCE %	0%	37%	50%	46%	61%	70%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹614.27 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹579.00

DCF Fair Value

₹614.27

Graham Number

₹220.24

Margin of Safety

-24.5%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹614.27

Premium / Overvalued (Margin: -24.5%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹598	₹592	₹587	₹582
10%	₹609	₹603	₹598	₹593
12%	₹620	₹614	₹609	₹603
14%	₹631	₹625	₹620	₹614

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹614	Undervalued
Benjamin Graham Number	₹220	Market Priced
Historical Sector P/E	₹885	Discounted
EV / EBITDA Multiplier	₹608	In-Line
Free Cash Flow Yield Model	₹567	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 9/9 (Strong Financial Health)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

9 / 9 Pass

Altman Z-Score

4.85 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.39x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Positive Operating & Free Cash Flow

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 56.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

60.71%

FIIs (Foreign)

2.20%

DIIs (Domestic)

4.96%

Government

0.15%

Public / Retail

4.21%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	64.92%	64.92%	64.92%	64.92%	63.42%	63.42%	63.42%	61.84%	61.84%	61.84%	60.71%	60.71%
+ FIIs (Foreign Portfolio)	0.75%	0.69%	0.60%	0.74%	1.01%	1.38%	1.43%	1.36%	1.32%	1.54%	2.39%	2.20%
+ DIIs (Mutual Funds / Insurance)	2.98%	2.97%	2.98%	3.01%	3.12%	4.12%	4.14%	4.81%	4.92%	4.68%	4.84%	4.96%
+ Public (Retail & HNIs)	1.81%	1.88%	1.97%	1.78%	2.92%	3.16%	3.10%	4.07%	4.00%	4.01%	4.12%	4.21%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Metals & Mining.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

HINDZINC Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

HINDZINC Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

HINDZINC Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹741.12

Accelerated market share capture in Metals & Mining, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹648.48

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 14x P/E.

🐻 Bear Case (15%) -12.0%

₹509.52

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Metals & Mining)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 19:19 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ HINDUSTAN ZINC Ltd (HINDZINC)	Target Stock	₹579.00	+0.53%	13.8x	76.6%	69.5%	0.39	₹2.35 Lakh Cr
JSW Steel Ltd (JSWSTEEL)	Integrated Steel Producer	₹1,353.30	+0.47%	25.0x	10.2%	11.0%	0.99	₹3.02 Lakh Cr
Coal India Ltd (COALINDIA)	Coal Mining & Power Coal	₹406.30	+1.20%	8.3x	28.2%	35.0%	0.12	₹2.59 Lakh Cr
Tata Steel Ltd (TATASTEEL)	Iron & Steel Manufacturing	₹189.28	+2.40%	18.7x	11.7%	12.5%	0.90	₹2.21 Lakh Cr
Hindalco Industries Ltd (HINDALCO)	Aluminium & Copper Fabrication	₹962.30	+0.24%	10.2x	13.0%	13.2%	0.73	₹2.12 Lakh Cr
Vedanta Ltd (VEDL)	Diversified Natural Resources & Metals	₹263.88	+0.72%	9.0x	38.2%	16.1%	0.66	₹98,561 Cr
NMDC Ltd (NMDC)	Iron Ore Mining & Mineral Extraction	₹71.70	+0.28%	8.8x	23.4%	27.6%	0.19	₹65,622 Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	19:19:17 IST	✓ Live Sync
Financial Statements (10Y)	HINDUSTAN ZINC Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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HINDUSTAN ZINC Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About HINDUSTAN ZINC Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Metals & Mining)

Metric Explainer

Stock DNA Methodology

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