Hindustan Zinc's margins to see support from firm prices, lower costs

In H1FY26, HZ's revenue was flat Y-o-Y at Rs 16,300 crore, but both operating and net profit increased 3 per cent Y-o-Y to Rs 8,300 crore and Rs 4,900 crore, respectively

Hindustan Zinc (HZ)’s revenue at ₹8,550 crore was up 4 per cent year-on-year (Y-o-Y) and 10 per cent quarter-on-quarter (Q-o-Q) with better commodity prices, offset by lower volumes. The operating profit was in line with consensus at ₹4,450 crore, up 7 per cent Y-o-Y (and 15 per cent higher Q-o-Q). The operating profit margin stood at 52 per cent  in Q2FY26, compared to 49.7 per cent  in Q1FY26 and 50 per cent  in Q2FY25. 

Apart from better prices, HZ lowered cost of production (CoP). Zinc CoP stood at $994 per tonne, which declined 7 per cent Y-o-Y and 2