The results were announced on Monday, 19 January 2026, when the stock climbed 3.74% to close at Rs 661.20 on the BSE.
Net profit after tax rose 46% YoY and 48% QoQ to Rs 3,916 crore in Q3 FY26, compared with Rs 2,678 crore in Q3 FY25 and Rs 2,649 crore in Q2 FY26.
Revenue climbed 27% YoY and 28% QoQ to a record Rs 10,980 crore in Q3 FY26, led by higher commodity prices, increased production, and a stronger dollar.
EBITDA stood at Rs 6,087 crore in Q3 FY26, up 34% YoY and 36% QoQ, with EBITDA margin expanding to 55%, compared with 53% a year ago and 52% in the preceding quarter. The growth was driven by increased production, higher zinc & silver prices, lower cost of production, stronger dollar, and higher by-product realisations.
Cost discipline remained a key highlight, with cost of production falling to a five-year low of $940 per tonne, down 5% QoQ and 10% YoY, even as mined and refined metal output scaled up.
Operationally, mined metal production rose 7% QoQ and 4% YoY to a record 276 kilo tonnes, while refined metal production increased 9% QoQ and 4% YoY to 270 kilo tonnes. Silver production stood at 158 metric tonnes, up 10% QoQ, contributing about 44% of profits during the quarter.
The company completed debottlenecking at the Chanderiya Smelter, increasing refined zinc capacity by 21 kilo tonnes per annum, including earlier debottlenecking at the Dariba Smelter. Hindustan Zinc was also declared the successful bidder for the Tungsten Block at Balepalyam in Andhra Pradesh, strengthening its long-term resource pipeline.
As on 31 December 2025, the company had healthy gross investments and cash, and cash equivalents of Rs 9,342 crore invested in high quality debt instruments. Total borrowings outstanding as on 31 December 2025, was Rs 9,013 crore. The net cash stood at Rs 329 crore as on 31 December 2025, in comparison to a net debt position of Rs 2,547 crore as on 30 September 2025.
Hindustan Zinc, a Vedanta Group company, is the world's largest integrated zinc producer and is amongst the top 5 silver producers globally. The company supplies to more than 40 countries and holds a market share of about 77% of the primary zinc market in India.