Summary
Hindustan Zinc reported Q2FY27 net profit of ₹6,412 crore, up 142% year-on-year, while revenue rose 77% to ₹15,093 crore. Higher silver production, increased metal output and lower zinc production costs supported earnings as shares reversed early gains.
Hindustan Zinc shares gained nearly 4% in early trading on October 21, 2026, following a sharp rise in September-quarter earnings. The Hindustan Zinc stock opened around ₹559.85 on the NSE against the previous close of ₹538.40, before giving up its initial gains later in the day.
The Q2FY27 results were released on October 19 and reflected higher zinc and silver realisations, larger production volumes and lower production costs.
Hindustan Zinc Q2 Results 2026: Profit and Revenue
Consolidated net profit reached ₹6,412 crore in Q2FY27, compared with ₹2,649 crore a year earlier, an increase of about 142% YoY. Revenue from operations stood at around ₹15,093 crore, rising 76.5% YoY, according to the reported consolidated figures.
Mined metal production increased 5% to 271,000 tonnes, while refined metal output rose 7% to 264,000 tonnes. Silver production reached 173 tonnes, up 20% YoY. Higher silver prices and volumes supported a substantial increase in the revenue contributed by that metal.
Quarterly net profit margin improved to approximately 42% from 31% a year earlier. This comparison reflects a favourable mix of metal prices, by-product earnings and production efficiency; profitability remains sensitive to commodity price movements.
Cost of Production and Silver Exposure
Zinc production costs excluding royalty fell 29% YoY to $703 per tonne. Lower production costs allow more of the realised selling price to reach operating earnings, although the size of that benefit changes with power, coal, materials, ore grade and currency movements.
The company lowered its FY27 zinc production cost forecast to $825–850 per tonne from $975–1,000. This is a company operating forecast rather than a stock-market target. It should not be confused with the much lower cost recorded in the September quarter.
Silver is increasingly relevant to the group’s earnings composition. Its price can fluctuate for reasons different from industrial zinc demand, so a quarter of stronger silver realisations may not repeat at the same level.
Hindustan Zinc Share Price and Sector Impact
The Hindustan Zinc share price reaction shows how earnings can influence intraday demand, but metals stocks also respond to international benchmarks, exchange rates and expectations for global industrial activity. For the zinc and lead sector, supply disruptions and mine productivity can influence selling prices. The company is also progressing a planned 2,50,000-tonne-per-year integrated zinc expansion, where project spending and commissioning schedules will matter for later output.
Based on technical analysis, the Hindustan Zinc share price target can be set at the nearest resistance level, which is ₹631, while the stop-loss can be set at the nearest support level, which is ₹483
The immediate facts are the strong Q2 earnings, lower unit costs and an early share-price jump that later reversed. Future performance will depend on realised metal prices, operating costs and the execution of expansion plans. Electricity costs, concentrate availability, sales of silver, and foreign exchange translation can all change reported figures from one quarter to the next, even when zinc production is stable.
