Hindustan Zinc (500188) Q3 24/25 earnings summary

Executive summary

• Achieved highest-ever mine metal and refined metal production for the nine-month period, with Q3 marking a historic financial performance.

• Recognized as global leader in sustainability, ranked 1st in S&P Global's 2024 assessment for the second consecutive year.

• Zero fatalities recorded in the quarter, with significant progress on CO2 emission reduction 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-on-year, the highest for any third quarter.

• Q3 EBITDA was ₹4,539 crore, up 28% year-on-year, with a 10-quarter best EBITDA margin of 53%.

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

• Free cash flow for Q3 was ₹2,628 crore; nine-month free cash flow at ₹9,664 crore.

• Basic EPS for Q3: ₹6.34; nine months: ₹17.40.

Outlook and guidance

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

• Cost of production guidance maintained 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 plant shutdowns and mine sequencing.

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

• Board and management continue to focus on operational efficiency and sustainable growth.