Hindustan Zinc (500188) Investor presentation summary

Market position and asset base

• World's largest integrated zinc producer, among the top five silver producers globally, and holds 77% of India's primary zinc market.

• Total resources and reserves of 453.2 Mnt, including 189.1 Mnt of ore reserves and 13.1 Mnt of contained metal reserves; mine life exceeds 25 years.

• FY2025 production reached 1,095 kt mined metal, up 1%, 1,052 kt refined metal, up 2%, and 687 tonnes of silver.

• Zinc cost of production was US$1,052/tonne, the lowest in four years; value-added products reached 179 kt, or ~22% of sales.

FY2025 financial and shareholder performance

• Revenue rose 18% YoY to 34,083 crore; EBITDA increased 28% to 17,465 crore and PAT grew 33% to 10,353 crore.

• Free cash flow from operations was 10,857 crore, supporting growth capex, debt reduction and shareholder distributions.

• Total shareholder returns were ~68%; dividend distribution totaled 12,253 crore, with a 29 per-share dividend.

• EBITDA margin was 51% in FY2025, versus 47% in FY2024; return on capital employed reached 58%, versus 42%.

Expansion and strategic priorities

• Phase 1 capex of 16,000 crore approved, including a 250 ktpa smelter at Debari and a 10 Mtpa tailings reprocessing plant costing 3,823 crore.

• Post-expansion capacity targets are 1,379 ktpa refined metal and 1,510 ktpa mined metal; FY2030 targets include 40 Mnt metal resources and reserves.

• FY2030 plans target 2 Mtpa underground mining and smelting capacity, 1,500 tonnes of silver, and value-added products at 50% of the portfolio.

• Zinc cost target is US$1,000/tonne in FY2027 and below US$1,000/tonne by FY2030, alongside renewable energy shares of 55% and 70%, respectively.