• Q4 financial performance: Hindustan Zinc posted a record quarterly profit after tax of approximately ₹5,000 crore in Q4, driven by smelter debottlenecking, higher calcine supply, increased mining output, and lower production costs.
• Commodity price outlook: Management projects zinc prices to trade stably between $3,100 and $3,300 per tonne, while silver prices are expected to fluctuate between $65 and $75.
• Production and expansion: The company guided for 1,150 KTPA of mined metal production in FY27 to achieve 1.1 million tonnes of refined metal output, with an ongoing expansion planned to raise capacity to 1.35 million tonnes within two years.
• Cost of production: FY27 cost of production guidance is set at $975 to $1,000 per metric tonne, higher than the Q4 level of $903 per metric tonne due to scheduled annual maintenance and a $30 to $35 per tonne impact from the Middle East crisis.
• Domestic demand trends: Zinc demand remains supported by Indian infrastructure spending and Southeast Asian export markets, while domestic silver demand remains robust as the company supplies only about 10% of India's total silver imports.