Hindustan Zinc Ltd (HINDZINC) — share price & stock analysis

Market cap

₹2,21,576 Cr

P/E

16.1×

ROE

76.6%

vs own 10-yr valuation

47th pctile

Book value / share

₹53.6

EPS (TTM)

₹32.6

10-yr median P/E

17.3×

Revenue (FY26)

₹40,844 Cr

Profit after tax (FY26)

₹13,832 Cr

Weinstein stage

Stage 2 (38 weeks)

Data as of

1 July 2026

5 of the 6 things we track are currently moving the right way — nearly everything is pulling in the same direction.

Where the levels actually stand: ROCE 70% — a high-quality engine; debt moderate (0.39× equity); margins near the top of their band. Momentum says which way things are moving; these say where they are.

Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double, and a quarter of the score comes from our earnings-recovery lens (is the profit cycle turning up off its trough?).

The price has run ahead of the profits

Since Mar 2016, the stock is up 184% while earnings per share grew 68%. The difference is re-rating — investors paying more for the same rupee of profit.pricettm_eps

That works until it doesn’t: from here, earnings have to do the lifting, because the multiple has already done its part.

Today’s P/E of 16.1× is the middle of its own range against its own 10-year history (47th percentile) — neither a bargain nor a stretch, by its own standards.pe_ratio

Price is the weekly close (₹). EPS is trailing-twelve-month profit per share, anchored on Screener's own snapshots; between snapshots it is filled from price ÷ P/E (an exact identity), and any fill straying more than 18% from the neighbouring snapshots is dropped rather than shown. The lower panel is the P/E — what the market pays per rupee of profit; the dotted line is its long-run median (17.3×).

The price is in a confirmed uptrend — 38 weeks and counting

Stock prices move through four repeating stages: basing (1), advancing (2), topping (3) and declining (4). This one is in Stage 2: advancing, 38 weeks in, confirmed.stage

The price sits above its rising 200-day average (₹559 today) — trends like this persist more often than they reverse, which is why the system rides them instead of guessing the top.dma_200

Trailing NIFTY 500 for 2 weeks — relative strength is the market’s live opinion, and right now it is against it.rs_mansfield

What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200

Profits are at an all-time high

Over 12 years, sales went from ₹13,636 Cr to ₹40,844 Cr (about 10% a year), and profit from ₹6,905 Cr to ₹13,832 Cr.revenuenet_profit

Margins widened 3.4 points along the way — growth with improving economics.operating_profit

Sales exploded 49% last quarter

Mar 26 sales were ₹13,544 Cr, up 49% on the same quarter last year.revenue

Margins are widening — 53% → 57% in a year

Of every ₹100 of sales, the company keeps ₹56.9 as operating profit (a year ago it kept ₹53.0).opm_pct

Zoom out and this is the page's quiet hero: annual operating margin bottomed at 47.3% in FY24 and has been rebuilt to 54.1% — that recovery, not sales alone, is what powers the profit growth elsewhere on this page.operating_profit

The gross margin moved the same way (95% → 97%), so this is about input costs and pricing power — the raw-material equation improved.gpm_pctopm_pct

Profit exploded 68% — mostly from selling more

Mar 26 profit after tax was ₹5,033 Cr, up 68% year on year.net_profit

The profits are real — they turn into cash

Over the last 5 profitable years, the business reported ₹52,084 Cr of profit and collected ₹72,367 Cr of operating cash — about 139% conversion.operating_cash_flownet_profit

When cash tracks profit this closely, the earnings need no asterisk.

The cash cycle is stable

One rupee now takes about 4 days to go out the door as materials and come back as collected cash.cash_conversion_cycle

Building hard — new capacity is under construction

The productive asset base has gone from ₹9,147 Cr (FY14) to ₹19,937 Cr, with another ₹3,409 Cr of capacity under construction right now.fixed_assetscwip

Work-in-progress is 17% of the existing asset base — that is a serious bet on future demand. Capacity like this shows up in sales with a lag; it is tomorrow’s growth being paid for today.cwip

The build is self-funded: the last 3 years' investing outflow (₹15,018 Cr) fits inside the operating cash the business generated (₹44,514 Cr).investing_cash_flowoperating_cash_flow

Debt is present but comfortable

For every ₹100 shareholders have put in (and left in), the company has borrowed ₹39 — total borrowings have grown from ₹0.0 Cr to ₹8,728 Cr over the window.borrowings

Every ₹100 kept in the business now earns ₹70 — and the number is rising

Return on capital employed is 70.0% (a year ago: 61.0%). This is the single best test of business quality: what the company earns on the money it keeps.roce_pct

Rising returns on capital while growing is the rarest combination in investing — it means the new projects earn more than the old ones.roce_pct

Promoters have trimmed their stake — 4.2 points over 8 quarters

Promoters hold 60.7% (down 4.2 points over 8 quarters). Foreign funds own 2.4%, domestic funds 4.8%.promoters_pctfiis_pctdiis_pct

A falling promoter stake is a red flag until explained — it can be a fund-raise or an exit; the difference matters.promoters_pct

Worth studying deeper — with eyes open

The numbers lean positive, and the price already assumes the good news continues.

Best thing in the data: profit rising (₹3,003 Cr → ₹5,033 Cr).net_profit

Biggest worry: free cash flow falling (₹11,454 Cr → ₹8,102 Cr).operating_cash_flow

One dissent worth hearing: our technicals lens reads negative — “Technicals bearish with 57% confidence”. When a lens disagrees with the committee, it is usually pointing at the thing that breaks first.

Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.

Straight answers from the data