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Silver Surge Powers Hindustan Zinc To Record FY 2026 Revenue, Profit and Cash Flow

Strong Silver Realizations, Record Production and A Fully Integrated Mine-to-Market Model Drive Hindustan Zinc’s Highest-Ever Revenue Of Rs. 40,844 Crore

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Hindustan Zinc Limited  the world’s largest integrated zinc producer and among the top 10 silver producers globally, announced its financial results for the fourth quarter and year ended 31st March 2026. The company delivered a record annual performance, underpinned by efficiency-led growth, strong operational execution and sustained cost discipline. The year was characterised by record production, a structurally competitive cost base and favourable commodity conditions, marking a step-up in profitability, cash generation and reserve strength, and positioning the company for its next phase of growth.

For the full year, Hindustan Zinc reported its highest-ever revenue of Rs. 40,844 crore, up 20% YoY, and all-time high EBITDA of Rs. 22,162 crore, up 27% YoY, with an industry-leading EBITDA margin of 54%, reflecting strong operating leverage and structural cost efficiencies. Net profit for the year stood at a record Rs. 13,832 crore, up 34% YoY, supported by robust free cash flow generation of Rs. 13,337 crore (pre growth capex), reinforcing the company’s ability to deliver consistent shareholder value. In the fourth quarter, EBITDA stood at a record Rs. 7,747 crore, up 61% YoY, while net profit rose to a record Rs. 5,033 crore, up 68% YoY, supporting the strong full-year performance.

Silver prices rallied strongly over the past year, buoyed by rising demand and tightening supply dynamics linked to industrial usage, energy transition, and geopolitical uncertainty. Although prices have moderated in recent months, they remain well above prior-year levels, supporting elevated realizations across the sector and providing a meaningful boost to miners’ top lines.

Hindustan Zinc has a strong  mine-to-market capability, which enables complete control over the value chain—from exploration and mining to beneficiation, smelting, refining, and the production of finished silver bars. This vertically integrated model ensures stringent quality standards, operational efficiency, traceability, and consistent product excellence. By leveraging advanced extraction and refining processes, Hindustan Zinc continues to deliver silver products that meet international benchmarks for purity and reliability.

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National News

Gold Sees Decline On Shifting Global Macroeconomic Cues

Spot Gold On The COMEX Hovered Around $4,057.85 Per Bounce, Indicating That The Cautious Sentiment Is Being Felt Across Global Markets.

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Gold prices on the Multi Commodity Exchange (MCX) experienced a notable pullback as market participants reacted to shifting global macroeconomic cues. The benchmark MCX Gold August 2026 Futures contract fell by 1.30%, trading at Rs 1,41,619.00 per 10 grams ahead of its upcoming expiry on August 5, 2026. Mirroring this downward trend, the Gold Mini (GOLDM) contract also slid, with its last traded price recorded at Rs 1,41,511.00.

The broader bullion market reflected a similar weakness. MCX Silver futures, set to expire on September 4, 2026, shed 1.60% of their value to trade at Rs 2,19,093.00 per kilogram. On the international front, spot gold on the COMEX hovered around $4,057.85 per ounce, indicating that the cautious sentiment is being felt across global markets.

Market analysts attribute this downward pressure to complex geopolitical and macroeconomic factors. While escalating conflicts in the Middle East would traditionally spur safe-haven demand, they have also kept inflation risks highly elevated. This sticky inflation has prompted widespread market expectations that the US Federal Reserve will maintain a prolonged high-interest-rate environment. Because higher interest rates raise the opportunity cost of holding non-yielding assets, investors have pulled back, keeping both gold and silver under pressure.

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