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Last Updated: April 2, 2026, 3:03 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 500188 | NSE: HINDZINC

Hindustan Zinc Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹373.95Overvalued by 28.64%vs CMP ₹524.00

P/E (19.0) × ROE (72.4%) × BV (₹32.20) × DY (5.53%)

₹252.93Overvalued by 51.73%vs CMP ₹524.00
MoS: -107.2% (Negative)Confidence: 68/100 (Moderate)Models: All 9: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹388.7522%Over (-25.8%)
Graham NumberEarnings₹141.5916%Over (-73%)
Earnings PowerEarnings₹168.7513%Over (-67.8%)
DCFCash Flow₹332.3313%Over (-36.6%)
Net Asset ValueAssets₹32.197%Over (-93.9%)
EV/EBITDAEnterprise₹469.539%Over (-10.4%)
Earnings YieldEarnings₹276.707%Over (-47.2%)
ROCE CapitalReturns₹141.399%Over (-73%)
Revenue MultipleRevenue₹120.495%Over (-77%)
Consensus (9 models)₹252.93100%Overvalued
Key Drivers: Wide model spread (₹32–₹470) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 4.0%

*Investments are subject to market risks

Investment Snapshot

66
Hindustan Zinc Ltd scores 66/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health85/100 · Strong
ROCE 60.7% ExcellentROE 72.4% ExcellentD/E 0.22 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money75/100 · Strong
FII holding up 0.11% (6mo) Slight increaseDII holding up 0.54% MF buyingPromoter holding at 61.8% Stable
Earnings Quality40/100 · Moderate
OPM contracting (53% → 49%) Declining
Quarterly Momentum80/100 · Strong
Revenue (4Q): +11% YoY GrowingProfit (4Q): +25% YoY Strong
Industry Rank45/100 · Moderate
P/E 19.0 vs industry 19.0 In-lineROCE 60.7% vs industry 60.7% Average3Y sales CAGR: 5% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:03 am

Market Cap 2,21,597 Cr.
Current Price 524
Intrinsic Value₹252.93
High / Low 733/385
Stock P/E19.0
Book Value 32.2
Dividend Yield5.53 %
ROCE60.7 %
ROE72.4 %
Face Value 2.00
PEG Ratio4.80

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Hindustan Zinc Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Hindustan Zinc Ltd 2,21,597 Cr. 524 733/38519.0 32.25.53 %60.7 %72.4 % 2.00
Industry Average221,597.00 Cr524.0019.0032.205.53%60.70%72.40%2.00

All Competitor Stocks of Hindustan Zinc Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 7,8668,5097,2826,7927,3107,5508,1308,2428,5569,0417,7238,52510,922
Expenses 4,1594,2503,9343,6533,7903,8964,1794,1384,0984,2583,9074,0994,917
Operating Profit 3,7074,2593,3483,1393,5203,6543,9514,1044,4584,7833,8164,4266,005
OPM % 47%50%46%46%48%48%49%50%52%53%49%52%55%
Other Income 349356287231305280277185221230282237319
Interest 62176218232243262256319285251239259195
Depreciation 8079288018259049368438759031,013911881944
Profit before tax 3,1873,5112,6162,3132,6782,7363,1293,0953,4913,7492,9483,5235,185
Tax % 32%26%25%25%24%25%25%26%24%21%25%25%25%
Net Profit 2,1572,5891,9701,7372,0382,0422,3582,2982,6472,9762,2042,6323,879
EPS in Rs 5.106.134.664.114.824.835.585.446.267.045.226.239.18

Last Updated: February 5, 2026, 4:03 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 10:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 13,63614,78814,18117,27322,08221,11818,56122,62929,44034,09828,93433,96936,211
Expenses 6,7177,3387,9237,5349,81210,4489,69110,95713,21416,57715,25316,63017,181
Operating Profit 6,9197,4506,2589,73912,27010,6708,87011,67216,22617,52113,68117,33919,030
OPM % 51%50%44%56%56%51%48%52%55%51%47%51%53%
Other Income 1,8812,7883,1272,4741,9561,7821,9111,8191,0821,3731,0838701,068
Interest 4524172022461131123862903339551,111944
Depreciation 7856447451,8111,4831,8832,2792,5312,9173,2643,4663,6343,749
Profit before tax 7,9709,5708,62310,20012,49710,4568,39010,57414,10115,29710,34313,46415,405
Tax % 13%15%5%18%26%24%19%25%32%31%25%24%
Net Profit 6,9058,1788,1758,3169,2767,9566,8057,9809,63010,5207,78710,27911,691
EPS in Rs 16.3419.3519.3519.6821.9518.8316.1118.8922.7924.9018.4324.3327.67
Dividend Payout % 21%23%144%149%36%106%102%113%79%303%71%119%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)18.44%-0.04%1.72%11.54%-14.23%-14.47%17.27%20.68%9.24%-25.98%32.00%
Change in YoY Net Profit Growth (%)0.00%-18.47%1.76%9.82%-25.77%-0.24%31.73%3.41%-11.43%-35.22%57.98%

Hindustan Zinc Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:9%
5 Years:13%
3 Years:5%
TTM:13%
Compounded Profit Growth
10 Years:2%
5 Years:9%
3 Years:3%
TTM:25%
Stock Price CAGR
10 Years:13%
5 Years:15%
3 Years:15%
1 Year:-12%
Return on Equity
10 Years:28%
5 Years:38%
3 Years:55%
Last Year:72%

Last Updated: September 5, 2025, 6:20 am

Balance Sheet

Last Updated: December 4, 2025, 1:22 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 845845845845845845845845845845845845845
Reserves 36,57342,50836,54029,96035,08732,76039,46531,46833,43712,09714,38812,44512,770
Borrowings 0007,90802,5386117,2012,84411,8818,72210,96411,169
Other Liabilities 4,2595,63915,81013,0827,0006,3156,0546,2137,54510,6319,94910,16410,690
Total Liabilities 41,67748,99253,19551,79542,93242,45846,97545,72744,67135,45433,90434,41835,474
Fixed Assets 9,1479,44610,3859,99311,30214,77816,46916,80817,39617,62018,05518,48819,147
CWIP 1,5412,0052,4283,0713,2202,2542,4891,9222,0752,1071,5292,5522,942
Investments 22,50627,25435,22123,78320,22219,48820,32912,95715,05210,10710,4529,9718,708
Other Assets 8,48210,2885,16114,9488,1885,9387,68814,04010,1485,6203,8683,4074,677
Total Assets 41,67748,99253,19551,79542,93242,45846,97545,72744,67135,45433,90434,41835,474

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 5,4715,5316,4517,5889,8008,7816,62110,56712,69115,16613,34314,127
Cash from Investing Activity + -3,955-3,807-3,23612,0072,396-1,092-2,648-2,4358466,525-3,405-2,658
Cash from Financing Activity + -1,577-1,902-3,214-11,266-18,612-9,630-2,098-9,697-12,258-23,224-9,946-11,426
Net Cash Flow -62-17818,329-6,416-1,9411,875-1,5651,279-1,533-843
Free Cash Flow 3,7623,9204,9185,6017,0775,4403,0038,1409,72311,6969,8559,814
CFO/OP 103%102%132%102%105%106%87%106%93%104%110%101%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow6.007.006.002.0012.008.00-603.004.0014.006.005.007.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 11163333779421
Inventory Days
Days Payable
Cash Conversion Cycle 11163333779421
Working Capital Days -1-14-347-375-67-98-56-91-36-148-103-95
ROCE %20%25%20%26%33%28%22%26%37%50%46%61%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 64.92%64.92%64.92%64.92%64.92%64.92%63.42%63.42%63.42%61.84%61.84%61.84%
FIIs 0.80%0.81%0.75%0.69%0.60%0.74%1.01%1.38%1.43%1.36%1.32%1.54%
DIIs 2.94%2.95%2.98%2.97%2.98%3.01%3.12%4.12%4.14%4.81%4.92%4.68%
Government 29.54%29.54%29.54%29.54%29.54%29.54%29.54%27.92%27.92%27.92%27.92%27.92%
Public 1.79%1.77%1.81%1.88%1.97%1.78%2.92%3.16%3.10%4.07%4.00%4.01%
No. of Shareholders 3,21,0163,42,5393,75,8334,01,9854,22,0724,45,9296,24,0256,94,4307,12,8848,19,8837,99,7687,93,882

Shareholding Pattern Chart

No. of Shareholders

Hindustan Zinc Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Bandhan Large & Mid Cap Fund 5,899,805 2.65 370.84,300,0002026-02-23 04:15:5137.2%
Old Bridge Focused Fund 1,836,000 4.77 115.39N/AN/AN/A
Bandhan Small Cap Fund 1,150,000 0.38 72.28N/AN/AN/A
DSP Multi Asset Allocation Fund 930,000 0.76 58.45N/AN/AN/A
DSP Natural Resources and New Energy Fund 907,689 3.23 57.051,346,3732026-02-23 04:15:51-32.58%
Tata Arbitrage Fund 661,500 0.2 41.581,879,1502026-02-23 04:15:51-64.8%
Baroda BNP Paribas Large and Mid Cap Fund 600,000 2.2 37.71450,0002025-12-15 01:24:5633.33%
UTI Multi Asset Allocation Fund 524,454 0.48 32.96431,3032025-12-15 00:05:2021.6%
TRUSTMF Flexi Cap Fund 494,898 2.81 31.1N/AN/AN/A
DSP Quant Fund 364,487 2.7 22.91367,0872026-02-23 04:15:51-0.71%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 24.5018.3624.8822.7918.89
Diluted EPS (Rs.) 24.5018.3624.8822.7918.89
Cash EPS (Rs.) 33.1226.5732.6029.6924.88
Book Value[Excl.RevalReserv]/Share (Rs.) 31.5435.9630.6181.1476.48
Book Value[Incl.RevalReserv]/Share (Rs.) 31.5435.9630.6181.1476.48
Revenue From Operations / Share (Rs.) 80.6768.4880.7169.6853.56
PBDIT / Share (Rs.) 43.4834.8644.7041.2831.93
PBIT / Share (Rs.) 34.8726.6636.9734.3825.94
PBT / Share (Rs.) 32.0824.4036.1833.3725.03
Net Profit / Share (Rs.) 24.5018.3624.8822.7918.89
NP After MI And SOA / Share (Rs.) 24.5018.3624.8822.7918.89
PBDIT Margin (%) 53.9050.9155.3859.2459.61
PBIT Margin (%) 43.2238.9245.8149.3348.43
PBT Margin (%) 39.7635.6244.8347.8946.72
Net Profit Margin (%) 30.3726.8130.8232.7035.26
NP After MI And SOA Margin (%) 30.3726.8130.8232.7035.26
Return on Networth / Equity (%) 77.6951.0681.2728.0824.69
Return on Capital Employeed (%) 63.2448.8586.7137.6528.95
Return On Assets (%) 30.0122.8929.6321.5517.45
Long Term Debt / Equity (X) 0.440.270.110.060.13
Total Debt / Equity (X) 0.790.550.910.080.22
Asset Turnover Ratio (%) 0.990.830.850.000.00
Current Ratio (X) 1.041.160.843.943.12
Quick Ratio (X) 0.860.980.743.612.94
Inventory Turnover Ratio (X) 17.870.000.000.000.00
Dividend Payout Ratio (NP) (%) 118.3570.79303.5078.990.00
Dividend Payout Ratio (CP) (%) 87.5648.92231.5860.620.00
Earning Retention Ratio (%) -18.3529.21-203.5021.010.00
Cash Earning Retention Ratio (%) 12.4451.08-131.5839.380.00
Interest Coverage Ratio (X) 16.7815.4256.7160.1434.95
Interest Coverage Ratio (Post Tax) (X) 10.539.1232.5634.6721.67
Enterprise Value (Cr.) 205669.00131756.63134390.50127908.25113083.00
EV / Net Operating Revenue (X) 6.034.553.944.345.00
EV / EBITDA (X) 11.208.947.127.338.38
MarketCap / Net Operating Revenue (X) 5.734.273.644.445.09
Retention Ratios (%) -18.3529.20-203.5021.000.00
Price / BV (X) 14.658.139.593.823.57
Price / Net Operating Revenue (X) 5.734.273.644.445.09
EarningsYield 0.050.060.080.070.06

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Hindustan Zinc Ltd. is a Public Limited Listed company incorporated on 10/01/1966 and has its registered office in the State of Rajasthan, India. Company's Corporate Identification Number(CIN) is L27204RJ1966PLC001208 and registration number is 001208. Currently company belongs to the Industry of Zinc/Zinc Alloys Products. Company's Total Operating Revenue is Rs. 33969.00 Cr. and Equity Capital is Rs. 845.00 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Metals - Non Ferrous - Zinc/Zinc Alloys - ProductsYashad Bhawan, Yashadgarh, Udaipur Rajasthan 313004Contact not found
Management
NamePosition Held
Ms. Priya Agarwal HebbarNon Exe. Non Ind Chairperson
Mr. Arun MisraWholeTime Director & CEO
Mr. Navin AgarwalNon Executive Director
Mr. Akhilesh JoshiInd. Non-Executive Director
Mr. Kannan RamamirthamInd. Non-Executive Director
Ms. Pallavi Joshi BakhruInd. Non-Executive Director
Mr. Vivek Kumar BajpaiNon Exe. & Nominee Director
Mrs. Nirupama KotruNon Exe. & Nominee Director
Mr. Dinesh MahurNon Exe. & Nominee Director

FAQ

What is the intrinsic value of Hindustan Zinc Ltd and is it undervalued?

As of 14 April 2026, Hindustan Zinc Ltd's intrinsic value is ₹252.93, which is 51.73% lower than the current market price of ₹524.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (72.4 %), book value (₹32.2), dividend yield (5.53 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Hindustan Zinc Ltd?

Hindustan Zinc Ltd is trading at ₹524.00 as of 14 April 2026, with a FY2026-2027 high of ₹733 and low of ₹385. The stock is currently in the middle of its 52-week range. Market cap stands at ₹2,21,597 Cr..

How does Hindustan Zinc Ltd's P/E ratio compare to its industry?

Hindustan Zinc Ltd has a P/E ratio of 19.0, which is below the industry average of 19.00. This is broadly in line with or below the industry average.

Is Hindustan Zinc Ltd financially healthy?

Key indicators for Hindustan Zinc Ltd: ROCE of 60.7 % indicates efficient capital utilization; ROE of 72.4 % shows strong shareholder returns. Dividend yield is 5.53 %.

Is Hindustan Zinc Ltd profitable and how is the profit trend?

Hindustan Zinc Ltd reported a net profit of ₹10,279 Cr in Mar 2025 on revenue of ₹33,969 Cr. Compared to ₹9,630 Cr in Mar 2022, the net profit shows an improving trend.

Does Hindustan Zinc Ltd pay dividends?

Hindustan Zinc Ltd has a dividend yield of 5.53 % at the current price of ₹524.00. This is a relatively attractive yield for income-seeking investors.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Hindustan Zinc Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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