Hindustan Zinc (500188) Q3 24/25 earnings summary

Executive summary

• Achieved record mine metal and refined metal production for the nine-month period, with Q3 marking the highest-ever third-quarter revenue and EBITDA.

• Recognized as global leader in sustainability, ranked 1st in S&P Global Corporate Sustainability Assessment 2024 for the second consecutive year.

• Maintained strong safety performance with zero fatalities and significant progress on decarbonization targets.

• India's largest integrated producer of zinc, lead, and silver, with over 75% market share in India's primary zinc market and a 25+ year mine life.

• Unaudited consolidated and standalone financial results for Q3 and nine months ended December 31, 2024, were approved and reviewed by the Board and statutory auditors.

Financial highlights

• Q3 FY25 revenue from operations reached ₹8,614 crore, up 18% year-over-year; nine-month revenue at ₹24,996 crore, up 17%.

• Q3 EBITDA at ₹4,539 crore, up 28% year-over-year; nine-month EBITDA at ₹12,649 crore, up 26%.

• Q3 profit after tax at ₹2,678 crore, up 32% year-over-year; nine-month profit after tax at ₹7,350 crore, up 28%.

• Zinc cost of production (COP) for Q3 at $1,041/ton, lowest in 15 quarters; nine-month COP at $1,073/ton.

• Free cash flow for nine months at ₹9,664 crore.

Outlook and guidance

• Confident in achieving full-year volume guidance for mine metal and refined metal production.

• Maintaining cost of production guidance at $1,050–$1,100/ton, expecting to deliver at the lower band.

• Silver production for FY25 expected between 700–710 tons, below initial guidance due to operational challenges.

• Renewable energy mix targeted to reach 18–20% by Q4.

• Strategic focus on expanding mined metal capacity, cost leadership, and sustainability goals for 2025.