Hindustan Zinc Q4 FY26: Profit up 68%, ₹11 dividend

What Hindustan Zinc reported on April 24

Vedanta group company Hindustan Zinc Ltd (HZL) reported a strong March-quarter performance on April 24, 2026, alongside an interim dividend announcement. The company disclosed both standalone and consolidated numbers for the quarter ended March 31, 2026 (Q4 FY26). Standalone net profit rose 68% year-on-year to ₹4,997 crore, compared with ₹2,976 crore a year ago. Consolidated net profit increased 67.60% year-on-year to ₹5,033 crore, versus ₹3,003 crore in the corresponding quarter last year. Revenue growth was similarly strong in both sets of numbers, supported by operational performance highlighted in the company’s update.

Standalone vs consolidated earnings snapshot

On a standalone basis, revenue from operations increased 49% to ₹13,488 crore in Q4 FY26, up from ₹9,041 crore in Q4 FY25. On a consolidated basis, revenue from operations was reported at ₹13,544 crore, up 49.05% year-on-year from ₹9,087 crore. The company also reported a 61% year-on-year rise in Q4 FY26 EBITDA to ₹7,747 crore. Hindustan Zinc described the quarter as a record, with its CFO Sandeep Modi stating the company delivered a record quarter and full-year financial performance driven by an all-time high quarterly EBITDA. The company also flagged a “historic” full-year net profit of ₹13,832 crore, up 34% year-on-year.

Dividend: ₹11 per share, record date April 30

Along with the results, the Board approved the first interim dividend for FY 2026-27. The dividend was set at ₹11 per equity share, described as 550% on the face value of ₹2 per share. The total payout for this dividend amounts to ₹4,648 crore, as per the company’s stock exchange filing. Hindustan Zinc fixed April 30, 2026 as the record date to determine eligible shareholders. The company said the interim dividend will be paid within timelines prescribed under law.

Expenses and operating cost trends

The March quarter also showed an increase on the cost side. Total expenses rose 27.86% year-on-year to ₹7,073 crore in Q4 FY26, compared with ₹5,532 crore in the same period last year. While expenses grew, EBITDA expanded sharply, indicating stronger operating profitability in the quarter as reported. The company also stated it achieved its lowest-ever cost of production at $103 per tonne, an improvement of 9% year-on-year. These cost and profitability disclosures were presented alongside production milestones for the quarter.

Production milestones highlighted in Q4 FY26

Hindustan Zinc reported best-ever mined metal production of 315 kt in Q4 FY26 and record refined metal production of 282 kt. The company also disclosed refined zinc production of 227 kt and refined lead production of 55 kt for the quarter. Silver production was reported at 176 tonnes, recording 11% quarter-on-quarter growth (with Q3 FY26 silver production cited at 158 tonnes in the provided production table). The company’s quarterly production table also compared Q4 FY26 with Q4 FY25 and Q3 FY26 across key metrics.

Segment details disclosed in the update

In the same results context, Hindustan Zinc said its Zinc, Lead, and Silver segment contributed segment revenue of ₹12,672 crore in Q4 FY26. Segment results for this core business area were reported at ₹6,746 crore for the quarter. These figures provide a clearer view of performance from the company’s main operating segment during the period.

Stock reaction: down intraday despite strong numbers

Despite the earnings growth and dividend announcement, the stock traded lower during the day. In late trade, shares declined 3.21% to hit an intraday low of ₹573. Later, the stock recovered from the day’s low of ₹572.80 (down 3.25%) and was trading at ₹584.65 on the NSE around 2:40 pm, down 1.26% from Thursday’s close. Separately, at 2:43 pm on April 24, Hindustan Zinc shares were reported down 0.5% at ₹587.9 apiece. The price action suggested investors were weighing the results and other factors, even as headline profit and revenue showed sharp growth.

Key numbers at a glance

Why this update matters for investors

Hindustan Zinc’s Q4 FY26 disclosures combine three closely watched indicators: profit growth, operating performance, and shareholder payouts. The company reported higher profits and revenues across both standalone and consolidated results, while also pointing to record mined and refined metal production and a lower cost of production figure of $103 per tonne. At the same time, the market reaction was negative intraday, with the stock hitting ₹573 before recovering, showing that near-term price moves can diverge from headline earnings growth. Investors tracking dividends also have a clear near-term date to watch, with April 30, 2026 set as the record date for the ₹11 per share interim dividend.

Conclusion

Hindustan Zinc’s March-quarter results showed a sharp year-on-year rise in profit and revenue, alongside record production disclosures and a ₹11 per share interim dividend for FY 2026-27. The company has set April 30, 2026 as the record date for dividend eligibility and stated the payout will be made within prescribed timelines. Market prices, however, remained under pressure during the session, with the stock trading lower even after the results announcement.