New Delhi: Share price of Hindustan Zinc’s has surged in April 2026, with a growth of over 17% this month. This surge comes on the back of the company posting record Q4 earnings, declaring a large dividend, and the global rise in metal prices, particularly silver.
The company reported a net profit of about ₹5,033 crore for the quarter ended March 2026. This represents a 68% increase over about ₹3,000 crore in the same quarter a year ago This is not only impressive growth but also higher than expected. Revenue too grew strongly by 49 percent to about ₹13,544 crore, well above expectations of about ₹11,999 crore.
This is largely due to the strong metal prices. Zinc prices were strong, but silver was even stronger. Hindustan Zinc is a major producer of silver, and silver prices have spiked in 2026 It is widely used around the world, both as an investment metal like gold, and in solar panels, electronics and electric vehicles. This has driven up prices and boosted the company’s revenue.
Meanwhile, the company has streamlined its operations. It beat earnings per share by 7.55 percent and revenue by 13.09 percent, indicating that it performed better than expected even with the high prices. Its operating margin (EBITDA) was 56.9 percent. This is an excellent margin for a metals company, although it was slightly lower than some forecasts.
The company also hit a production milestone. It achieved the highest quarterly mined metal production ever of 315 kilotonnes. This demonstrates that the company is not only benefiting from the high prices but also increasing production. Year-on-year production has also been robust, thanks to improved efficiency and mining production.
What’s ahead for Hindustan Zinc
In the near future, Hindustan Zinc intends to ramp up its production to 1.35 million tonnes. This will further boost its global market share and enable it to capitalise on the strong demand.
The other big news of the quarter is the dividend. It declared an interim dividend of ₹11 per share, or 550 percent of the face value. This translates to a payout of approximately ₹4,600 crore to ₹4,648 crore. The dividend will be paid on April 30, 2026. This substantial dividend reflects the company’s healthy cash flows and its commitment to regular shareholder returns.
Despite this impressive performance, the stock has had some short-term fluctuations. As of April 24, 2026, the stock price was approximately ₹589, down slightly for the day. The stock has fluctuated between ₹398 and ₹733 over the last 12 months The market capitalisation of the company is approximately ₹2.49 trillion and the price-to-earnings ratio is around 21.
Technically, the stock is still in an uptrend as it is above its 50-day and 200-day moving averages. But there are some signs that the stock may consolidate or slow down after the recent run-up. This is also due to the fact that valuations have increased. Some analysts have already downgraded the stock from “Buy” to “Hold” because they believe the stock is overvalued and is trading at around 11 times book value.
It’s Not just the Stock
The other thing to consider is silver prices.
The recent increase has boosted earnings, but some analysts think prices may not remain at such high levels. This could mean that the company’s earnings growth will slow.
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